Cardano Is All Set To Release A New Suite for Smart contracts and Decentralized Finance

The support for smart contracts will soon be much easier with the help of a new build suite by Input Output Hong Kong.

The latest announcement of suite to be released by the parent company of Cardano blockchain will cement that network will maintain a strong position in the expanding industry of DeFi. The latest suite build is called Marlowe. One significant purpose of the Marlowe suite is to assist p2p monetary agreements, allowing  Cardano to develop smart contracts after the functionality is added to the network.

The alpha testing of the suite began the previous year and presently the team feels the suite is ready for the launch which can be released along with the Goguen update. However, the immediate problem that Cardano’s team need to address is to launch Alonzo allowing smart contract execution in Cardano.

Cardano all set for the launch of Alonzo

IOHK has assured all preparations are now done and dusted for the launch of the Alonzo test net in the initial alpha testing phase. The launch will be carried out in different stages, every single stage having coloured names accordingly. The launch will start from June till September.

The team were working on Alonzo along with Shelley phase. The release of Shelly introduced more functionality to Cardano’s tokenomics as a switch was made to the Proof-of-stake algorithm.

The smart contract execution marks a vital development for Cardano as pairing along with the Goguen update would be a step in the right direction for the network. Shelley decentralized the foundation of the framework and Goguen adding the possibility of developing DApps on Cardano.

What is the latest suite developed by IOHK?

The latest suite named Marlowe will allow the ability to execute smart contracts on Cardano’s blockchain. Which has endless possibilities including the Non-Fungible Tokens marketplace, games, transaction condition, identity tracking systems, etc.

The suite will serve 3 various fronts: enterprises, Developers and end-users. The developers will be given 3 various products each with its essence including development, testing of smart contracts and open-source library for construction of new apps.

The End-users product will automatically build smart contracts along with non-technical descriptions for end user ease. Lastly, the enterprise-focused product will mainly focus on utilizing Algorithmic contract kind standards for monetary contracts.

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Brave Announces To Extend Support For Cryptocurrency Names

Brave browser discloses its upcoming plans to extend its back up for more domain name providers after Unstoppable Domains and Ethereum Name Service (ENS). Presently, it is assisting the domains of Unstoppable Domains and Ethereum Name Service (ENS). These two domain providers supply .crypto and .eth correspondingly. It will include the new domain providers by incorporating their Top Level Domain (TLD) extensions.

Brave has stated today in an announcement that various crypto Domain Name Service (DNS) providers are to be integrated with the Brave browser. Brave officials mentioned that rather than holding back, it is actively communicating with the Domain Name Service (DNS) suppliers for their assistance through Hypertext Transfer Protocol Service (HTTPS) or Domain Name Service (DNS). 

Brave further spoke about its policy regarding domain name resolution that the blockchain-based DNS resolution will be terminated in normal browsing. Moreover, brave discloses that it will set standard domain names as default if there is any difference between the domain names of Internet Corporation for Assigned Names and Numbers (ICANN) and other crypto DNS providers.

Although Brave has revealed much about its proceedings, yet it remained silent about disclosing the names of the providers. There is a possibility of the DNS providers like Tezos Domains, Zilliga Name Service, Blockstack, Namecoin, Neo Name Service, etc., to be working with Brave. But it is important to note here that there are other browsers like Opera, which assisted the DNS providers.

As a result, 700,000 decentralized domain names and decentralized websites over 30,000 will be accessible for the users. Further, Brave will provide access to web 3.0. Unlike GoDaddy, a conventional centralized domain registrar of America which got hacked in 2020, Brave will provide cryptocurrency wallets to its users by Blockchain technology.

About Crypto Domains

Crypto DNS programs, which are based on Blockchain technology, come up with another route for accessing crypto wallets and decentralized sites. The domains are more secured than the ordinary public domains, which can be easily accessible and prone to reveal records to anyone, as they can only be accessed through the decentralized web. 

The domains are acquired through cryptocurrency, and the information about the possessions of the domain holders is recorded as Non-Fungible Token (NFT) on the blockchain. Non-Fungible Token (NFT) is the other name for the record mentioned on the blockchain, which is formed by complex algorithms and cannot be tempered by anything.

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These are the Metrics That Show the Recovery of XRP, LINK, BNB, and Cardano

The recovery of the altcoins (especially the top ones) is much slower than expected after the immense bloodbath that happens in the market last weekend. There are several factors responsible for the dip. One of these major factors was market volatility. The sudden decrease in the volatility of the leading altcoins led to the crash, which was quite obvious from the social volume. The current altcoin crash has led to a decrease in demand all across the exchanges, and the overall volatility of the market is dwindling between 40-60% based on the Bloomberg Galaxy Crypto Index.

This swingling has caused a limitation in demand and scaling of the exchanges both in spot and derivatives. During the rally, in the case of altcoins, Volatility is a double-edged sword. Just as it caused profitability in the altcoins’ rally like BNB, XRP, LINK, and ETH, volatility is helping in driving recovery. The social volume of Ripple’s XRP, LTC, and Chainlink, has risen tremendously based on the data published on lunarcrush.com.

This shoot is the social volume is caused by the increased number of tweets on Crypto Twitter, the mentions by influencers, and the rising search volume on Google. Both the social volume and volatility of the altcoins in the top 30 are increasing steadily. In the case of XRP, LINK, BNB, and ADA, volatility is influenced by the demands across the exchanges and market capitalization.

For altcoins like Chainlink, the accumulation by the large HODLers has risen consistently. 78% of large crypto HODLers have LINK accumulated in their wallets, and about 56% of them are in profit. The on-chain sentiment is currently bearish, according to the data from IntoTheBlock. The inflow of investment in the previous seven days on the Chainlink network is $6.24 Billion. The volume of large transactions had declined by 3%, though the decline has not hurt the price of the altcoin yet. LINK is currently trading at $24.76 and is resisting all selling pressure.

In the same manner, concerning ETH, the price of ETH has increased in the last 24 hours. The rise in volatility and social volume is driving an increase in the price. The narrative of the scarcity of Ethereum continues as the percentage balance across exchanges is reducing, and there are about 88% HODLers in profit at the current market price, of which about 58% of them are holding the coin for more than 12 months now.

In the bull cycle in 2018, the volatility of BTC was instrumental to the price rally, and this has a positive impact on the top altcoins since there was a huge correlation between Bitcoin and the altcoins. Similarly, the correlation between Bitcoin and the top altcoins is over 0.80, which means that the altcoins are following the lead of Bitcoin as the price is recovering to about $40,000 level.

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Real Estate Giant Announces that they are Open to Accepting Several Digital Assets for Payment

Algocap is an American real estate agency. The company has been around for decades and has appeared on many top enterprise lists over the years. Presently, the real estate agency has started to gain massive popularity among the cryptocurrency communities all across the world. The management of the company claims that it is open to accepting cryptocurrencies for payment. The decision comes during an ongoing crypto revolution.

Talking to the media, the real estate agency of New York claimed that any person hailing from any part of the world could show an interest in buying land in NYC with Bitcoin, Ethereum, or Dogecoin. At present, the position of cryptocurrencies is under a lot of distress. For the better part of this month, red candles have been dominating over the green ones. However, this news could restore the faith of the panicked investors and allow them to make better decisions about their holdings.

The Millionaires of the New Age have Gates of Opportunities Opening up for them

Algocap real estate agency has highlighted that their decision to accept cryptocurrencies is to take advantage of the addition of millionaires all around the globe who have successfully made money from cryptocurrencies. A few months back, most people were not very sure about the legitimacy of cryptocurrencies, and many struggled to understand how it works. 

However, with a little amount of time digital asset market cap has blown up to $2.2 trillion. There are predictions that Bitcoin would be very easy to replace gold and DeFi to become a common substitute for fiat currency. Investors like Ray Dalio have also signaled warnings time and again about the ultimate government crackdown on cryptocurrency as it would start to shake the current monetary system. However, the Algocap authorities are pressing for the introduction of new regulations to clear up the confusion around tax issues. 

More Businesses have Started to Accept Cryptocurrencies

Algocap is not the only business that is interested in cashing in on the lucrative cryptocurrency businesses. Dreamflats, a property and leasing company based in Malta, has also announced that they would start accepting Cardano native token ADA as an acceptable mode of payment for the rental agreements. It would open up a new set of client demography for the enterprise. 

The rich crypto investors would be able to make use of the pay for their stay at the Mercury towers build under the supervision of Zaha Hadid. Meanwhile, another real estate agency under the supervision of Rick Caruso has also opened up crypto payment gateways, with which the residential rent leasers would be able to settle their due with cryptocurrencies. As per the statement issued by the agency, Bitcoin is here to stay, and it would be better to start the transition now.

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Biden Administration is Determined to make Crypto Regulations Friendly for Retail Investors

Central banks, governments, and traditional financial institutions are all having a hard time swallowing the bitter pill of truth that is the cryptocurrency market. The new asset class that is distinct from precious metals, stocks, bonds, and dividends has become the most popular choice of investment for people all around the world. During the Biden administration, while the government was unable to see the value of the dollar constantly falling and difficulties with handling the COVID-19 destruction, there is little spare time to think about the crypto markets. 

The federal watchdogs are mostly concerned about the diminishing number of jobs and the increasing inflation that has started to hollow out the American economy. However, the US treasury secretary, Janet Yellen, claimed upon her appointment that she has serious concerns about the massive carbon footprint from the mining rigs. A new report published by Washington Post suggests that the Biden administration is trying to come up with a better plan.

Has Crypto become So Big that the Government of the USA can no Longer Contain it?

There have been soothsayers who have issued warnings that the government might impose a cryptocurrency ban one way or the other. However, there are others like David Rubenstein, head of the Carlyle Group, who recently remarked that cryptocurrencies are here to stay, and it would be impossible to keep them off the market at this point. As per the Washington Post article, the president-elect has called for a better way to eliminate big-shot cryptocurrency and allow the retail investors to keep fooling around with Dogecoin.

The main purpose of the federal government is to find legal loopholes to disqualify cryptocurrencies from entering into the mainstream market places. Options like money laundering, extortion, illegal sale of weapons, war funding, and other types of terrorism financing have been discussed by liking them with crypto. Many critics have claimed that government could enforce a crackdown on crypto-like gold to safeguard its center of power and commercial dependency.

Internal Revenue Service could be Incentivized for Introducing Cryptocurrency Taxes

One of the biggest issues with cryptocurrencies is that there are no clear guidelines for taxation. A few weeks ago Biden administration claimed they would increase the capital gains taxes for high net worth individuals. The news broke the crypto markets and made a bad impact on the US Stock exchange.

 A few days ago, internal revenue services (IRS) decided to implement a tax that would be applicable on $10K or higher crypto transactions. In the current meeting, the possibility of promoting the IRS to make these amendments were also added to the list of agenda.

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BTC Miners In China Brace For Impact After The Recent Announcement Of Ban On Bitcoin Mining

China’s recent decision to ban the mining of Bitcoin in the country has certainly sent shockwaves throughout the cryptocurrency community. However, perhaps the most affected by this are the miners themselves, and while the ban has yet to be put into place, it has nevertheless driven many of the miners to enter a state of severe panic. As a result, some have already sold off any tokens being held, whereas others are now considering operating overseas.

Mustafa Yilham, the leader of Chinese BTC mining firm Bixin, stated that numerous miners have already begun the process to operate overseas within the previous two days alone. Furthermore, we can expect a substantial amount of BTC mining machines and rigs to be available for purchase, he added. Lastly, Mustafa also stated that certain actions and decisions pertaining to enforcement are anticipated within the next few weeks, although the severity of the enforcement remains unclear at this point in time.

Nevertheless, this entire situation has indeed created a bearish sentiment as far as the Chinese miners may be concerned.

Big trouble in China

Primitive Ventures’ founding partner, Dovey Wan, stated via Twitter that many local miners have already messaged her privately about the sales of their respective machines as well as help in shipping them overseas. 

As of this point, BTC.top, a mining pool based in China that also accounts for nearly 1.5% of BTC’s overall hash rate, has commented that its brokerage business specializing in providing mining tools and equipment will no longer be serving any customers based in mainland China due to the ban. Furthermore, Huobi (a popular cryptocurrency exchange) also decided to no longer provide the abovementioned brokerage service for any new users who are based in mainland China. However, the mining pool business will nevertheless still be operational.

BTC hash rate being used to back tokens

As expected, the ban has also had an effect on the tokens backed by the hash rate as well, with these particular tokens being issued by the miners. The token holders would normally be entitled to mining rewards which coincide with the overall amount of the hashing power that the tokens themselves would represent. This also hence offers an indirect way of gaining exposure to BTC mining itself.

Lastly, not only had the recent mining accident in Xinjiang highlighted the environment’s instability, but the ban also has had a catastrophic impact on the cryptocurrency market. In particular, the exchange tokens run by OKEx, Binance and Huobi had decreased by over 30% this past weekend.

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Ethereum Update and Price Forecast

It is hard to talk about cryptocurrencies nowadays without talking about Elon Musk and his questionable actions. Recently, he caused turmoil in the crypto markets by first announcing that Tesla would no longer accept Bitcoin as a means of payment, and then hinting that Tesla would sell its Bitcoin holdings. In essence, this is a classic pump and dump scheme, but it was done differently. As a result of Musk’s actions, Bitcoin’s price dropped to under 45000 USD per unit, and the price of other cryptocurrencies such as Ethereum also dropped to new recent lows. The picture now looks less optimistic than before.

Ethereum technical analysis

Since December 2020, Ethereum has been moving in an uptrend. A clear trend line can be drawn from the bottoms. A remarkable feature of the trend is its strong momentum, even in comparison with trends in other cryptocurrencies. Yet, despite the rise in price, recently the price has dropped as if it has fallen off a cliff. The change in the weekly price movement is obvious. Musk’s announcements have left their mark, as a glance at the price of Ethereum on trading sites will attest.

Ethereum technical analysis: daily and 4 hour time frames

On the daily time frame, it seems that the price is falling hard and on its way to meet different moving averages. If successful in that, it might continue falling until it meets the rising trend line. Then, there are two scenarios. The price can either bounce back or continue falling. The third scenario would be consolidation then either bouncing back or falling still. The price has previously reached a peak at 4360 USD and now it is trading at around 3200 USD. It has lost more than 1000 USD in value in a matter of one or two weeks.

On the 4 hour time frame, the price seems to have broken a short term trend line, and it is still declining. It is getting close to the 200 period moving average, and if it manages to clear that level, then more decline can be expected. After that, the next target would be the trend line.

Overall outlook and forecast

Despite the recent decline, Ethereum can still rise up again. Enthusiasm about crypto can still receive a new push if a celebrity or a famous person makes new comments about the use of crypto. The recent decline can be a correction in rising trend. Fibonacci retracement levels can be used to identify potential points where the upward trend might resume.

If the price manages to go below the trend line, then long positions are not recommended. If the price rises above 4400 USD, then this might mean that the momentum is back, and we might see the price reaching 5000 USD, if not higher. Changes in the price of the US dollar can also impact the price of Ethereum, although factors related to the use of crypto are in a better place to move the price. Traders are not encouraged to open long positions just yet before receiving a confirmation signal. As for short positions, then they are only recommended if the price falls below the trend line.

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Cardano Reports another Major Milestone as ADA Blockchain now has One Million Wallets

Founder of Cardano blockchain has recently announced the good news that the 3rd generation cryptocurrency has reached one million followers. The highly anticipated news was posted on the Cardano Foundation blog. This number signifies the rapid growth trend of Cardano. At present, when the crypto market candles have turned dangerously red, the Cardano coin has climbed up the rank despite 14% depreciation.

In few months, the Proof-of-Stake (PoS) cryptocurrency has made significant progress. In January, ADA blockchain has a little about 2000 wallet addresses. The number has blown up to a million in a matter of a small period. It signifies a five times increase in the number of users and crypto investors who have joined the Cardano family. 

Cardano still not Immune from the Ongoing Crypto Depreciation Epidemic

Last month, in the middle of the altcoin boom Cardano scored a new ATH of $2.45. While many big-time investors started to take an interest in Cardano, it still crashed when the Bitcoin price was shot down. Nevertheless, Cardano managed to overcome a huge obstacle and was promoted to the 4th largest cryptocurrency. Although at present, it is trending at $1.25 after a 48% distance from its peak price point in April. 

The Cardano community is also looking forward to the Alonzo hard fork, which would allow the Cardano system to take back control and introduce smart contracts on the blockchain. The blockchain also attracted a lot of attention when it became a 100% decentralized network last month. The blockchain is also busy introducing welfare projects in Africa with the help of blockchain technology. 

Cardano Creator Invites Tesla CEO to Repair Dogecoin Blockchain

Charles Hoskinson, the founder of Cardano, had opened up a new YouTube channel to interact with ADA followers and share the road map for his blockchain project. A few days ago, the Dogecoin community was taken by surprise when Elon Musk shared his vision for increasing the blockchain size by ten folds. This announcement earned the Tesla CEO a lot of criticism. The Bitcoin core developer Peter Todd even remarked that Musk should stick to launching rockets.

However, Hoskinson published a video addressed to Musk claiming that he can solve these problems by replacing the Scrypt protocol with Prism. With this edit, Dogecoin would be able to sustain 10 thousand transactions per second. At present, ADA is only one step behind Dogecoin on the leader board. Hoskinson also offered to make Dogecoin ASIC-proof by introducing high interoperability with the HashCore algorithm.

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Iranian Government Put Down its Feet over the Matter of Crypto Mining Farms

In 2020, the government of Iran happily and readily issued licenses for Iranian crypto mining farms. With this open pass and friendly environment, the number of mining farms increased on a rapid scale. The smaller number of operations also kept expanding as the crypto markets took root on a global scale and spring out like a blooming business. However, this rapid speed soon started to create issues for the locals.

Both retail and commercial consumers started to complain about the shortage of energy resources due to the uncontrollable crypto mines. The last nail was hammered in the coffin when the power grid had to start load shedding to prevent overheating and complete breakdown. According to electricity providers, for Tehran and other major provinces Khorasan Razavi and Alboraz, it has become necessary to take two hours breaks. 

The Electricity Crisis of Iran has become a Barrier for Crypto Miners

The crypto mining farm owners are facing a new challenge to keep going on with their operations. The country has an impressive economy and industrial presence. Nevertheless, cryptocurrency mining requires a huge amount of electricity consumption. As time passes, this consumption requires more hardware installations and larger amounts of energy. Chinese financial union has also decided to rule against crypto mining for the same reason.

For the most part, the miners in the United States seem to think that any Bitcoin that has been mined outside of the region is not worth investing in. At the same time, the government regulatory authorities also do not seem to be very happy with Bitcoin mining and related enterprise. There is a massive case being ruled in the courts towards Ripple Labs that is trying to qualify digital assets as stocks or securities. SEC is putting a lot of pressure on this case. If this case is ruled in favor of the prosecutors, it will change the future of crypto forever.

Iranian Government Calls for a Complete Shut Down on Crypto Mining

The Iranian government has decided to take back the permits of the crypto mining farms and also put them on trial to pay for the damages that they have caused in the country. The Iranian intelligence agencies also conduct raids and surprise inspections to put out the wildfire of unsanctioned or illegal mining rigs. 

The problem is so rife that the government has even offered a huge reward valued at about 80 million riyals. This amount is many folds bigger than the minimum wage paid in the country. Those who can tip the government about any illegal farming location would be able to enjoy this massive reward.

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Cross-Chain DID Aggregator Litentry Partners With DeFi Platform Tidal Finance

Tidal is a platform that provides the ability to create custom insurance pools for protocols. The platform is stepping forward in the direction of improving its security on its networks. Tidal has suffered from hacking attacks in the past which have resulted in the loss of data. The platform is looking to use Litentry to make its network much more secure to prevent hackers from pulling users’ private information.

Litentry’s Goals

Litentry is itself a cross-chain compatible decentralized identity aggregator that helps user identities to connect with different decentralized networks. Litentry goal is to accomplish this task, meanwhile also making sure that the user’s privacy and data integrity is secured. This is made possible by the use of identity aggregation.

Additional Benefits of working with Litentry  

The partnership with Tidal will help Litentry enable a smooth and secure flow of data across multiple services, leading to a much improved and safe working environment for decentralized finance. The partnership also has other benefits. Using Litentry’s API and modeling, tidal can have access to useful information of insurance buyer activity, which will then help them to analyze and understand the behavioral patterns of insurance buyers and their risk profiles to make smart decisions. Risk profiles can be used to push forward premium offerings according to different user bases.

With the complex algorithms in motion, it will help in the prevention of fake submissions and make the reconciliation process with accredited accounts more stable and secured. Tidal will be able to use the additional information to come up with new operations, giving them many benefits and increasing the platform’s efficiency, meanwhile also ensuring the protection of the user’s data and privacy, giving users the satisfaction and relief they need to work on the platform.

Proper User Identification is a very important factor in running decentralized services. The servers always require proper identification data, so it is important to make sure it is correct, secure, and ready for the servers to use. Proper securing of data means that Tidal can improve its interoperable services better, more useful, and fully secured, resulting in a safer user experience without any worries about data leaks and identify theft.

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The Newly Appointed SEC Chief Gary Gensler Breaks Silence about Cryptocurrencies

The appointment of the new SEC chief might turn into disappointment for the cryptocurrency investors and traders. Due to his academic background and expertise in blockchain and Fintech technology, many people were sure that Gensler would introduce a more crypto-friendly environment under his reign. However, the former professor of MIT has put all speculations to bed and revealed the road map for SEC’s stance on digital assets.

Addressing attendees at the financial industry Regulatory Authority Annual Conference, Gensler said that SEC would not tolerate loitering and looting by the bad actors of the crypto world. He added that SEC is ready to safeguard the interest of the citizens to safeguard their family fortunes and lifelong savings from getting exploited by unsanctioned decentralized platforms.

The Thunder of Law is Getting Ready to Strike Down on the Crypto Exchanges

Gensler’s statement has made it clear that SEC is preparing to introduce strict regulations on all major and minor cryptocurrency agencies in the region. He even claimed that the regulatory agency would not refrain from implementing the law “evenly” and “aggressively.” As per Gensler, the digital assets are not just volatile but highly unstable asset class.

Contextually, the SEC chief seems to be focused on the hazardously increasing number of crypto scams in the wake of the massive crypto adoption. He pointed out in his brief that SEC is always preparing to deal with scams and Ponzi schemes no matter where they are present in the financial stratosphere. Many crypto stakeholders were expecting Gensler to act as an intermediary between the government and the crypto community to make way for a more conducive climate for digital assets.

Crack Down on Crypto Exchanges

While reading from his prepared statement, Gensler exclaimed that SEC would be going after any suspicious schemes like private funds, insider trading, and even fiduciary violations. He also pointed out that there is no room for scams like market manipulation and accounting fraud under the SEC’s watchful guard. The former CFTC chief was also found amiable to get support from INFRA.

FINRA or Financial Industry Regulatory Authority is a privatized financial institution that acts as a self-governed body. Gensler added that new technologies are always evolving, but the regulatory agencies must shape them and convert them into secure channels. Gensler thinks that blockchain technology is relatively new. He also instructed SEC and FINRA to be ready to handle more lawsuits pertaining to crypto, fintech, and cyberspace.

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President’s New Tax Gap Proposal is Pushing the Crypto Investors to Reveal their Transactions

The whole merit and purpose of the cryptocurrency and the blockchain system were to have a glance at the decentralization, but the financial elements around the world are kind of flying it in the opposite direction. Traders are asked to use government-issued exchange systems to connect with the crypto sites and make purchases that literally take the air out of the decentralized element. On top of that, the regulations that are being developed and subjected to the use of cryptocurrency have led to the complete misconduct of decentralization. 

Besides current developments made by American President Joe Biden to the IRS (internal revenue service), he assigned them to come up with additional standards for the crypto market. The measures aim to close the tax gap and regulate the crypto market; one core element of this approach is that the crypto exchanges are required to report the gross receipts and the purchases. It means that the volume of the purchases made on a daily basis and the profit catered by the users or traders will be reported directly to the IRS.

President Biden has Urged for New Regulations to be Developed and Implemented

The whole crypto market is a significant indicator of tax evasion as the market approaches $2 trillion, but the tax input has been next to nothing due to the lack of regulations. Therefore, the current developments to make and implement so-called regulations will provide the government with some sort of taxes flying from the crypto market directly to the state’s treasury. At present, the very meaning of the crypto market means that people can get away with their earnings without making them tax-deductible. 

People who have done crypto-oriented business, including trading, buying, and selling the cryptocurrency around the value of $10k, should give tax to the government according to the new developments. This is a standard that already exists for cash transactions and is now on its way to become applicable for the crypto world as well in due time.

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Pinance.io Review – Trading Cryptocurrencies Just Became Better than Ever

Pinance Exchange Review

The new shift in the cryptocurrency market has made it the most popular one out there. At one point, it seemed as though no other financial market was ever going to come close to the forex. However, things are changing quite fast, as the interest of the people in digital coins is quite prominent in the current conditions. The only challenge that people have before they can invest their money in digital assets is the starting point. It is amazing how so many people want to invest in this market but don’t know where to start. That’s what this Pinance.io review is going to help you with.

If you want to start your cryptocurrency trading career, you have to start with the right trading platform. The trading platform that you will use for trading comes from the online broker. That’s where you have to be very picky. You can’t just choose any company you see first and start trading on its platform. A hasty decision can land you in a regretful position. To save you from such a situation, I am going to review Pinance.io for you so you know where to start and how you can make the most of your crypto trading experience. Let’s get into this review. 

Broker – https://pinance.io/
Website – https://www.pinance.io/
Type of Trading – Cryptocurrency trading
Positions Allowed – Sell, Buy, Invest
Encryption – Yes
KYC and AML – Yes
Leverage – 1:10
Mining Pool – Yes
Account Managers – Yes
Customer Support – Yes

How Pinance.io Is Making Crypto Trading Better

·         Safety Is Never a Compromise

You can compromise on the interface of your trading platform. You can even compromise on the profits that you are making on your trades. The only thing that you can’t compromise on when you sign up with an online company is the safety and security. When I talk about safety and security I want you to think of many things, not just the protection of your money. In fact, if you think the protection of your money is the most important concern, you are probably not aware of the dangers of losing your information on the internet. However, you will continue to learn more as you read this review.

Firstly, you want to see that the platform is offering you some level of encryption as soon as you enter your information on the website. Through information encryption, the company protects your information from being naked on the internet lines. If it is not encrypted, hackers and snoopers can take away your information and then pretend to be you while performing various illegal activities. That’s not going to be the case when you sign up with Pinance.io. It’s an HTTPS website, which means the S at the end stands for your safety.

In addition to that, you want some safety of your money as well. You can’t really make your money safe when you are trading online unless you are using only the safest deposit methods, which is what you will do when you sign up with Pinance.io. In addition to that, another thing that will make you happy is the fact that your money will be kept in segregated funds at regulated banks. This is how the company makes sure to not mix its own money with yours. The money that you deposit belongs only to you and maintained at banks that are renowned around the world for transparency and high-tech systems.

·         Compliance with AML and KYC

As important as this particular factor is, you will not find all the online trading services providers abiding by this. They have online platforms where you are expected to trust them with your money. You have to deposit money in your account when you want to trade. Of course, you can’t really trade if you don’t have any money in your account or if you have not opened your trading account with the company. Here, you will be shocked to know that some online companies make it easy for everyone to sign up with them. That’s the right thing to do you must be thinking.

In reality, that’s not the right thing to do. The online platforms should make sure to allow only the legal entities to sign up with them for performing legal trading. If someone is interested in something shady and dubious, these platforms should have certain policies in place to say no to them. You will not have to worry about such a blunder when you sign up with Pinance.io because it takes care of that through KYC and AML policies. KYC policy requires everyone to provide their personal, identification, and physical location information.

In addition to that, you have the AML policy that requires every trader to submit information to do banking only legally. AML stands for anti-money laundering, which means the broker is taking steps to prevent any money launderer from using its online trading platform. How does Pinance.io do that? Well, it asks them to submit not only the numbers from the credit or debit card but also pictures to prove that they are holding the card with them. This proves that they are not reading the number off of some stolen information from the internet.

Through the implementation of these two policies, Pinance.io has made sure that its trading platform is clear from such entities. Only legal people come here to trade legally and make money with their skills, not black money.

·         Trade Many Crypto Coins

You might think that just because the cryptocurrency world is new there should not be enough cryptocurrencies in it. It is true that more and more assets continue to accumulate when a market has become old by many decades. However, you will be hugely surprised to know that the market that has been around for hardly a decade now has thousands of assets available for trading.

It is an important thing to know here that not all online platforms will provide you with access to these assets. Some of them are limited to letting their traders trade only the major cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Dogecoin, etc. With Pinance.io, you will not have to pick and choose between many different cryptocurrencies. You have the best ones, the new ones, the minor ones, and the major ones. They are all available for you to trade them on the same trading platform using the same trading account.

Do you want to trade Dogecoin because you think Elon Musk and Mark Cuban endorsing this digital currency will cause it to become famous? Are you looking for a way to enter Bitcoin trading because you don’t think there is any other digital currency that can come even close to its value? From Bitcoin and Ethereum to Ripple, Dogecoin, Litecoin and many others, you will find them all for trading when you sign up with Pinance.io. The company has made sure that its trading platform becomes a hub of digital currencies for those who want to trade.

·         Trading Platform with Extensive Features

You can’t really make any difference in the world of trading unless you have access to the right trading platform. Here, it is important for you to know that there are many other trading platforms that you can use for other financial markets. However, when it comes to trading digital currencies, you want something that is dedicated to this type of activity. You can’t just rely on any other trading platform because you know that it is not going to work at the end or will not provide you with the features that are tailored to the specific needs of crypto traders.

I can tell you with confidence that the trading platform from Pinance.io is one of the best out there if you are looking to trade your favorite digital currencies in the same place. This trading platform comes with modern features, charts, graphs, and any other important tools that you need to be successful with your trades. You want to see the charts to see the price and value, you got it. Do you want to see beyond the price of the asset and into its volume of trading, you can do that with the help of advanced charts that Pinance.io will give you. All of these charts and graphs are there for you to use them right on your main trading platform.

Another thing that you will really love is that all your trading tools are there on the platform. If you want to receive notifications of the prices of the assets at certain points, you can do that on your platform as well. This modern trading platform will run on all your devices. Whether you want to use it on your computer, tablet or smartphone, you can do that with ease. You will not even have to download the platform.

·         Trading Platform Built by the Team

Here is something that will really surprise you about most other online trading platforms. The companies that promise to provide you with unmatched trading services are giving you access to a third-party software. They buy this software from other companies for a small price. In fact, many of these software tools are completely free of cost. In other words, if you don’t like the trading platform, there is not much you can do about it. You eventually have to change the broker and then you have to start the learning process again.

That’s not going to happen to you when you sign up with Pinance.io is that you will be on a trading platform that the company has developed on its own. It has a team of software engineers that has put together this platform only for you. So, if there is something you don’t like about your experience on the trading platform, you can tell the company and they can consider making changes. On the other hand, other companies cannot do anything like that because they don’t have the trading platform in their control. They can only recommend you that you stay with them for other things.

·         Safe Funding Options

You will love the fact that you can deposit your money with safety when you sign up with this company. One of the biggest concerns that people have when they sign up with online trading services providers is that they can’t use the method of their choice. They just have to stick to the options that are provided to them by the company. Now, you don’t want to use a method that you have never heard of before. When you sign up with Pinance.io, you will be using the safest methods of depositing money in your account. These safe methods include the use of credit or debit card.

You can use the most major credit and debit card companies, such as Visa, Mastercard, Maestro etc. In addition to that, you will be glad that you can deposit your money through bank wire transfer as well. People who really don’t care about the speed of the transfer but pay more attention to safety are fond of using the bank wire transfer. The good thing is that you have both these options available for you to use when it comes to funding your trading account with Pinance.io.

Now, another thing to notice here is that you can also fund your account with Bitcoin. Bitcoin is the first and the biggest digital currency in the world that has no match in the market. If you already have some Bitcoins, you can use them to deposit funds in your account. It is as though this service provider knows how to make things easy for its traders.

·         The Mining Pool Feature

Mining is an essential part of the creation of digital currencies in the world. When you look at fiat currencies, you know that they have been printed in some security press. These currency notes are authorized by the government and the central bank for dissemination and distribution among the general public. In other words, the paper money is created in these printing houses. On the other hand, when you talk about digital currencies, they don’t have any physical presence. To create them, you have to do the mining process.

However, mining is not as easy as you might think. Mining requires you to use heavy computers and extremely expensive graphics cards. Even then, you can’t be sure that you will meet the standards to become a successful miner. In other words, your wish to make digital coins through mining will never come true. It is amazing that most online trading services providers don’t even think about this particular issue. The best thing is that Pinance.io has thought about this problem as well and facilitated you in the most amazing manner possible.

 This company has provided you with an option to be a part of its mining pool. This mining pool has been designed to take advantage of the mining resources from many different people. This means, it is not you whose resources will be used entirely. Only a small portion of your computer’s resources will be used. The rest of the power will come from other users who are a part of the mining pool. This way, mining is performed on Pinance.io and you get to earn money, which can be a small portion of the crypto coin mined through the process. You can be happy that there is someone thinking about you.

·         10X Leverages for You

Leverages are an important part of online trading. Most of the people who choose to trade online are not very rich. They are trading because they want to make certain financial dreams come true. In fact, they are also doing other jobs, but they want another extra stream of income. This is the reason they choose online trading because they know this method will provide them with a way to make money from home. However, if you trade online assets with the money that you deposit in your account, you can’t really grow very fast.

You will make profits if you are good with your trading strategies, but if you have only a small amount in your account, your profits will not be that big. The journey of reaching good financial stability will be very long because you will be taking a lot of time in reaching there. However, if you can get access to some leverage, you can make a huge difference. That’s where the broker that you sign up with comes in. Your broker can provide you with the leverage that you need to increase the sizes of your trades. Once you start using leverages, you can increase size of your profits on your trades as well.

The leverage does not guarantee that you will make a lot of money, however, if you are successful with your trade, it can definitely amplify your profits. Now, when you sign up with Pinance.io, you will notice that is provides you with leverages of 1:10. That’s something that should make you happy. If you look at other trading platforms, you might notice that they have very huge leverages. However, they have these leverages only for other assets. If you look at their leverages for digital currencies, they hardly ever go beyond 1:5. On the other hand, with this company, you will have leverages of 1:10 no matter which account you sign up with.

·         Take Advantage of Account Managers

Personal and account managers are becoming a very famous feature these days. You will notice that most of the online companies are providing their traders with this particular service. However, the issue with their feature is that you have to pay an extra cost for this particular type of service. If you sign up with a basic account, you will not be able to take advantage of account managers with most other brokers. That’s not the case when you sign up and start your trading account with Pinance.io. As soon as you join this trading platform, you have an account manager ready to help you with your trades and trading direction.

These account managers are professionals who have spent their lives trading. They know what works and why something is not working. They can tell you your biggest challenges as a new trader. They will also tell you which assets will be best for you based on your budget and trading style. In other words, they will help you find the direction in your trading career. Once you have found the right direction, you can go on the path of making successful trades every single day.

Now, the best part is that you can take advantage of this service without paying anything extra to the company. You just have to sign up with the company, open your trading account, fund the account and start using this particular feature.

·         Great Customer Service

Upon doing some research of the online companies that provide you with trading services, I have to say that most of them are not very impressive with their customer service and support services. The problem with these companies is that they try to answer your questions with canned responses. Also, they are usually available to you only during the week days. What will you do if you run into a problem on weekend? That’s where the customer support from Pinance.io really makes sense. The company can help you through email or phone on just about any day. The customer support representatives from this company are available to help you 24/7.

Final Thoughts

Cryptocurrency trading is becoming more and more popular with the passage of time. People have realized that they can transact from their homes without spending on the banks’ fees and service charges when they use digital currencies. Also, they realize the importance of decentralized currencies now, which is what cryptocurrencies are. If you are interested in trading digital currencies, you should definitely consider signing up with Pinance.io because it will provide you with all the features, services, and perks that you need as a trader to become a professional crypto trader.

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US Financial Services Firm Wells Fargo Intends To Offer Crypto Products To Institutional Clients

The department of investment of the large international finance firm, Wells Fargo, is considering cryptocurrency products offering to the institutional investors linked to the firm. An executive from the firm highlighted the innovation in an interview recently where he called BTC a cool diversifier.

Is Wells Fargo Getting Along With BTC?

In an interview with the Wells Fargo Investment Institute’s President, Darrell Cronk with Business Insider, he made mention of the recent approach of the organization in support of cryptocurrencies.

The executive also noted that the department he oversees is evaluating and introducing a new strategy managed by crypto actively to the firm’s platform for their institutional clients.

For a while now, the division has searched for a solution with optimum professionalism and, however, has gotten to the final stage of the managerial research after following the due diligence research process. Cronk, hence is looking to unveiling the strategy by mid-June.

He said: “We perceive the crypto space has gotten to a notable stage of maturation and evolution in its developmental stage that will make it a viable asset.”

Though the executive said the digital assets might be attached to their own independent asset class, he believes that BTC and other crypto are a cool diversifier for portfolio holdings.

Banks Are Getting More Interested in Crypto

Darrell Cronk went ahead to highlight how diverse institutions have been showing interest in BTC for the same basic reason many banks want to add crypto offering to their services. But irrespective, he is sure that the nature of innovation in the industry will need a lot of information and educational work.

It is noteworthy that the demand for crypto has gotten to other banking giants in the United States. And as a result, different organizations have launched or revealed plans to add services focusing on the crypto space.

The oldest bank in the country, BNY Mellon, was part of the pioneer banks to launch a platform focused on cryptocurrency. After which, Morgan Stanley followed by making their clients get access to the BTC market through BTC exposure filing.

Former bashers like Goldman Sachs and JPMorgan Chase& Co also announced a similar approach recently. Reports revealed that it is possible for JPM to launch a BTC managed fund for private clients before the end of this year, and Goldman will file a Bitcoin ETF, reactivate their cryptocurrency trading desk and participate in the public listing of Coinbase.

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MicroStrategy CEO Michael Saylor has Announced a New Bulk Purchase of Bitcoin

After being abandoned by Elon Musk, Michael Saylor is playing the role of Bitcoin superhero for crypto enthusiasts. Recently, the business intelligence company has added $10 million worth of Bitcoin to its balance sheet. The enterprise currently has Bitcoin holdings with more than 92 thousand BTC that are valued at $2.251 billion at the current evaluation. 

A few days ago, Microstrategy bought $15 million worth of Bitcoin. This impulse purchase was made when Tesla announced that it would no longer accept Bitcoin as payment due to the detrimental effects on the environment. Michael Saylor was the Bitcoiner who took credit for introducing Bitcoin to Elon Musk. After the change of hearts, he is the one who is leading the criticism army unto the Tesla CEO.

Expert Chartist Claims that Bitcoin can go down to $29K

Despite the technical analysis and massive outflows, many are sceptical about the stability and recovery of Bitcoin. On a segment called Chartmaster that is part of the hit TV series Fast money, Carter Worth predicted the Bitcoin price could fall as low as 55%. Worth is the chief market technician at Cornerstone Macro. 

This price mark is about 80% lower than the support position of Bitcoin. Some Twitter users have pointed out that this type of depreciation takes about a year to take place, taking reference from the bull runs of 2017. Another crypto analyst, PlanB, who introduced the stock-to-flow indicator, claims that Bitcoin moving average and realized value is going wayward, and it is likely to continue on this path.

Bitcoin Price Recovery Curve; Is some Correction or Recovery Possible?

Bitcoin is the flagship cryptocurrency that has been appreciated since last year. The current bull run could be over, or it might have a few laps remaining. The prediction for this bull run for Bitcoin was to reach a six-figure price point. However, the cryptocurrency has crashed down 25% below its ATH. Despite these crashes, the bears are not preparing to short the Bitcoin stock.

On the contrary, institutional investors and expert brokers are busy buying the dip. The general sentiment in the market is that Bitcoin is good for a long-term investment. The miners who have accumulated Bitcoins have chosen to keep them in cold storage. Meanwhile, Coinbase ticker COIN has also declined from $381 to $250 in the aftermath of the Bitcoin crash. David Trainer, CEO of New Constructs, shared his concerns that further Bitcoin depreciation could bring down COIN to $100.

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Crypto Investment Firm Galaxy Digital’s Net Income Spiked To $860M In First Quarter

Digital currency investment management company Galaxy Digital has shown astonishing performance this year, mainly when looking at net income. The company has broken all of its previous records and is all set to fly a chariot to the moon for the future.

Previous records show that Galaxy Digital had experienced a major loss of about $26.9M back in 2020. The first quarter of 2020 also gave Galaxy Digital a $31.5M loss in trading income. But now, the company had seen such an improvement in performance that helped it swell up to its net income to $860.2M, recorded on the 31st of March. As of the early quarter of 2021, the total number of managed assets has scaled up to a massive 50% in growth, and the income from trading inflated up to nearly $508.7M. Reports have also shown that three of the Bitcoin Funds run by Galaxy Digital have managed to return an extremely positive 101.92%, soaring profits to unimaginable levels.  

This is surprisingly a hugely successful run for Galaxy Digital, practically confirming its legitimacy as an asset management company and now attracting more new users than ever before. CEO of Galaxy Digital Mike Novogratz has definitely shown his experience as a CEO for Galaxy Digital, helping the company display such astonishing numbers and statistics.

Galaxy Digital and BitGo

BitGo is one of the leading crypto asset caretaking companies, which also provides various other useful services for the trading of cryptocurrencies. Mike said earlier this month that Galaxy Digital would soon acquire BitGo, which will cost around $1.2B in stocks and cash, helping Galaxy Digital gain a position as the first full-service digital asset platform designed for institutions, creating more opportunities for more institutions to join hands with Galaxy Digital. To successfully acquire BitGo, Galaxy Digital is planning to use its balance sheet and then shift the remaining payments for 12 months.

Novogratz pushing forward with ETFs

Galaxy Digital has also been in the works to help list the USA’s first Bitcoin Exchange-traded fund. The company has submitted a formal application to the Securities and Exchange Commission of the United States, demanding the approval of the first Bitcoin ETF to run in the market. Bitcoin ETFs will help smoothen out the adoption of digital assets like cryptocurrency and make trading easier.

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Tesla’s Stocks Begin to Fall amid the Bitcoin Crash

What goes around comes around is a pretty old and rhetorical saying but not without the effect. Most of the crypto world is already caught up with Elon Musk’s story regarding his company Tesla dumping Bitcoin and pinning the whole shenanigan on how the cryptocurrency is a malicious hazard to the environment due its mining practices. Bitcoin mining consumes a lot of fossil fuels such as coal that puts out a substantial carbon footprint which is not suitable for the climate, argues Elon Musk, and thus began the vicious cycle that brought the price of Bitcoin all the way to $42k, which by any means is not a significant number as shortly before that the price was way above the $55k range.

Anyway, given the turmoil Bitcoin seems to be in and Elon Musk’s sudden change of heart despite knowing at the time of purchasing $1.5 billion worth of Bitcoin for Tesla that Bitcoin uses fossil fuels for mining purposes, Tesla’s stocks are now in the whirlpool. Talking strictly about today the Tesla’s stock price has dropped another 4% as the downward trend continues pulling the price from all the way to $900 to $564, which is not great for the company. 

Tesla’s Stock and Bitcoin’s Fate Seem to be Pretty Tied

The stock seems to be falling since the last month, accounting for 20% of the total value lost and 12% of which happened in the past five days. The recent Bitcoin crash dragged it all the way down to $42k from the $64 price range. Bitcoin seems to be a part of an ongoing trend where Bitcoin at first continues a steep hike with a bull run, and then the price correction kicks in, cutting Bitcoin’s price viciously, and then it rebounds once again, chartering itself on the course of hitting new all-time highs. 

But it might not be your regular push with Bitcoin as the cryptocurrency has taken a reputational hit from Elon Musk, the man who used to back it up the most, and this is not something you come out of that easily. As for Tesla, given its hefty investment into Bitcoin and then ultimately ridding from all of it, the possibility is that investors are giving the company a hard time, but given the excellent mending capabilities of Elon Musk, it is fairly possible that the stock might regain its value in given time.

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Cardano is Launching a Decentralized Stake Pool Operator (SPO) on the Blockchain

IOHK, the parent company behind third-generation blockchain Cardano, has recently shared its ambition to launch a stake pool operator with DeFi capabilities. The SPO team is an extended branch of blockchain research and development enterprise that created Cardano. The news has been well-received in the community. Just a few weeks ago, Cardano made blockchain production autonomous.

The deployment of SPO decentralization would set up a secure and authenticated correlation between shared nodes. Cardano co-founder Charles Hoskinson told media that the blockchain needs to go through an infrastructure upgrade for a successful SPO network. For starters, a peer-to-peer governor would be activated in addition to connection management software and a personalized P2P testnet setup. The R&D team is conducting experiments with a P2P testnet.

Cardano Popularity is Spreading like an Epidemic outside of United States

Data report courtesy of Google Trends indicates that Cardano’s fame is reaching many countries outside of the USA. This was the bracket when the ADA gained a major portion of its media coverage. The poll also sketches the geographic index, which is most prominent in Netherlands, Australia, and Ireland.

However, the popularity of the Cardano brand remains below 37% in countries like Belgium, South Africa, United Kingdom, and Germany. The data analytics provided by Finbold and Coinmetrics indicate that the active addresses count has gone up 417.81% since January. In other regions, the amount of growth is 382.84% in terms of transaction counts. IOHK has broadcasted its mission statement to introduce more use cases for the blockchain to realize its RealFi vision.

In line with the Atala Prism program, Cardano has drafted an academic partnership and sponsoring contract with the government of Ethiopia. The program aims to improve the education infrastructure and enable the system to be more reliant on merit. The program would also provide technical education with certifications and tablets with easy internet access for high-school students and teachers.

The government of Tanzania has also joined hands with Cardano. In collaboration with the World Mobile Team, the native SIM service provider in the region, Cardano would try to make 5G internet accessible for more than 10,000 people. Lark Davis, a crypto influencer on social media, claims that after the successful implementation of much anticipated Alonzo upgrade and smart contracts capability, the price of ADA would double or go beyond.

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Morgan Creek Capital CEO Says Bitcoin Could Hit $250,000 Within The Next Five Years

Mark Yusko, the Chief Executive Officer and Founder of Creek Capital Management had recently made his feelings about Bitcoin known. He predicts that not only shall BTC be in a position to be considered as a legitimate rival to gold in terms of monetary value soon, but he also strongly believes that BTC could increase to over $200,000 in the next respective market cycle.

Creek Capital Management is a firm specializing in investment management and offers advice as far as endowments, pension funds, wealthy and high-net-worth individuals, and other related aspects may be concerned. Mark Yusko has certainly drawn a lot of attention for his recent comments regarding Bitcoin, especially as the world’s flagship cryptocurrency has yet to reach the $60,000 mark and is currently trading at just over $58,860 as of this time.

Comparison to FAANG companies

It had been during the ‘Trading Nation’ on CNBC that Yusko had compared BTC’s continued adoption to that of the growth exhibited by the FAANG companies, which essentially refers to Facebook, Amazon, Apple, Netflix, and lastly, Google.

Yusko went on to say that cryptocurrency may be understood as a network, and all networks tend to experience growth in different yet exponential ways. He then claimed that cryptocurrencies are the quickest network as far as anyone can remember to reach over a trillion dollars in accumulated value, which makes the FAANG companies look dull by comparison as it took them 15-20 years in order to reach the same milestone.

Moreover, Yusko has also stated that Bitcoin shall be transformed into a base layer protocol, which is to be utilized by the IoV (Internet of Value). Through this prediction, Yusko has likened BTC to that of the TCP/IP, which is a standard protocol that enables computers to be able to connect and subsequently share data all over the Internet.

Yusko’s opinion on altcoins

As far as the recent success of certain altcoins such as ETH, LTC, ADA, BNB, and DOGE (all of which are in the top 10 ranked cryptocurrencies at the moment) are concerned, Yusko remains adamant that these will simply not matter in the long run. 

The reason for this opinion is because Yusko believes altcoins to be little more than utility tokens that lack a use case as well as any underlying intrinsic value. He concluded by stating that many of these types of altcoins will most likely disappear in the future.

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According to a High-Profile Analyst, Cryptocurrency, in Reality, is Good for the Climate

Ironically enough, all the mining that takes place around the concept of cryptocurrency and blockchain, in general, is putting a lot of strain on our environment. There have been; however, some initiatives sparked in these recent months that will be focusing on creating a process that is not that absent of the environmental impact mining has and that will also help to lower the general carbon footprint proposed by all the mining that used electronic equipment and a lot of electricity. But in a fair comparison, this doesn’t even come closer to the asters other businesses have had on our environment, according to a popular crypto analyst and the host of the Coin Bureau. 

A pseudonymous trader on YouTube has come up with all this interesting information about how cryptocurrency might be a shining knight in the armor to save the environment. According to him, cryptocurrency could help in decluttering all the mess the traditional businesses have had on the environment. This trader uses some firm knowledge and reasoning while pointing towards the root of these accusations being stomped on Bitcoin. These accusations that Bitcoin mining alone will increase the earth’s temperature by 2 degrees Celsius come from an academic paper written all the way back in 2018.

Bitcoin’s Energy Usage might be Exaggerated Beyond the Normal Calculations

There are various loopholes in the paper. There is a section where it is discussed that the total rate of Bitcoin transactions will reach one billion per day in the upcoming future, where the whole blockchain in its entirety is only marching up to a few hundred thousand transactions daily. In an interesting concept, he puts out a scenario discussed in the paper that Bitcoin mining is taking up electricity that is enough to power a small country. According to the anonymous trader, all the appliances such as TV, computers, coffee makers, and such are using way more than Bitcoin mining when these are merely plugged into sockets, not running or even functioning at all. 

The whole concept that Bitcoin puts forward is deflationary, which supports frugal living; on the other hand, the fiat money, while representing inflation, urges people to amass more and more, increasing consumption, thus leading to riveting climate change and environmental degradation.

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Musk Jokingly Calls Dogecoin a Hustle as Price Falls under $0.50

The meme-based cryptocurrency has always had a fair share of push when it comes to the tweets sent out by Elon Musk promoting Dogecoin and what it stands for. This ended up bringing a solid price rally for Dogecoin, and it was always a real treat for the regular traders. Something similar was expected of Musk’s SNL (Saturday Night Live) debut, where he was to host the evening specifically talking about Dogecoin. The rally in digital asset’s overall trading and price boost didn’t pan out as intended, and the bullish run doesn’t seem to be on Dogecoin’s side for the time being. To better understand why it is, you need to understand what happened on Elon’s SNL debut.  

Musk Explains about Dogecoin on SNL Platform

Musk’s mother also accompanied him over at Musk’s SNL debut in a surprising turn of events. During the comedy monologue of Musk on the comedy show, his mother briefly joked to his son about how she hoped that she would not be receiving any Dogecoin on the upcoming Mother’s day. This little speech was given a fair applaud and cheers from the audience and then began the real deal of Musk giving out his professional and financial opinion on how Dogecoin is doing at the moment and what investors and traders could expect in the upcoming weeks. Surprisingly enough, after the SNL episode finished and was aired, seen by many, and talked about by the experts, Dogecoin’s price dropped consistently, which was nothing short of a hard blow no one could see coming.

Elon Musk also came about the performance of other cryptocurrencies such as Ethereum and Bitcoin and how these are seeing an uptick in their price every other day, but Dogecoin isn’t. When asked, ‘What is Dogecoin?’ Musk only managed to state the obvious such as how the trading goes with it and the reserves that are being traded every day for Dogecoin; he said that it is as real as the US dollar and also ended up calling Dogecoin a hustle. If all of this was Musk’s idea of getting enough financial support and pouring for Dogecoin through his SNL debut, then it just doesn’t seem to be working at the moment.

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What are the Driving Forces behind Massive Price Appreciation for Dogecoin?

The Dogecoin upsurge is nothing short of history in the making. At present, the meme cryptocurrency has broken all records and left behind promising blockchain projects like ADA, UNI, XRP, XLM, DOT, and many more. As noticed by Richard Knight, the price of the meme cryptocurrency has risen a staggering 22,879%. After Dogecoin scored an ATH of $0.8 in the last 24 hours, it surpassed Ripple token with a $91.424 billion market cap.

The digital currency was launched as a mockery of cryptocurrencies in 2013, but it has turn tides with a keen sense of vengeance upon the satirists. Any investor who put 100 dollars in Doge in May 2015 could have the power to expand into one million DOGE as of today. The average Return on Income (ROI) for Dogecoin is 101.187%, as noted by CoinMarketCap. 

While most investors are left scratching their heads about the current rise of meme cryptocurrency, some theories could explain the phenomenon. One factor could be the absence of any central figures in the picture. Just like Bitcoin is a 100 percent decentralized cryptocurrency, Dogecoin also became independent when its founders Billy Markus and Jackson Palmer, sold their entire stash for peanuts in 2015.

Meanwhile, other experts believe that the massive popularity of Dogecoin could be attributed to the Gamestop Stock short squeeze incident that introduced cryptocurrency in the mainstream media. On the other hand, Elon Musk decided to introduce Dogecoin to his 53 million followers on Twitter. Among institutional investors, Robinhood holds the biggest Dogecoin wallet. At present most DOGE holders have their eyes set on the 1 dollar mark. 

What Makes Dogecoin Different from other Cryptocurrencies?

Knight notices that while Basic Attention Token (BAT) incentivizes people to provide their time and concentrated focus, Dogecoin offers a utility called priceless humor. A report published by Galaxy Digital Research also relays that the value of the satirical currency can be traced back to the cliché sentiment that people love to laugh at a good joke.

The current surge of Dogecoin can alter the way value is placed in digital commodities. Like an infamous comedian sells out the ticket for an auditorium, Dogecoin has managed to convert its value of humor into a real utility. It could be possible that more digital currencies are introduced in the markets, offering a physical rendition of a service that could be renewed into a real value with positive and negative market trends just like any physical product.  

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New SEC Chief Gary Gensler has Opened up about his Stance on Cryptocurrency Regulations

Ever since Gary Gensler has been sworn in as the new chief of the Securities and Exchange Commission of the United States, many eyes are set on him to get a glimpse of how the environment for crypto is going to turn out for American traders. After a long silence, Gensler has opened up about his stance on the cryptocurrencies regulations. He was summoned to a virtual hearing by House Financial Committee. 

Patrick McHenry, North Carolina representative of the Committee, asked Gensler about SEC’s stance to introduce a lucrative digital asset market space with regulated revenue streams and legal statutes. Gensler replied that crypto exchange platforms have room for offering a more secure environment for crypto traders. He also added that both SEC and Commodity Futures Trading Commission have a non-existent regulatory framework for crypto markets.

Gensler Endorses the Idea of SEC to Stay away from Bitcoin and Cryptocurrencies Trading

It seems that Gensler has been pushed into taking a stance on the ongoing crypto market fever. In the past, he has endorsed SEC’s stance on staying neutral about the Bitcoin markets and crypto trading in general. In the recent congress hearing, he expressed an interest in complying with the government’s demand for regulating cryptocurrencies. However, he also added that the commission would only act as per its legal limitations.

The current congress meeting was focused on the GameStop Stock fiasco. A few traders from the Reddit community called the WallStreetBets managed to short squeeze the price of the stock to new heights. However, in the end, many people lost a lot of money as the price of the controversial stock rose from $469.49 to below $50. Lawmakers are also taking a stern stance on Robinhood’s alleged market manipulation heretics and the hedge funds behind the scenes that caused the GME short market squeeze.

Jesse Powell, CEO of one of the largest crypto exchanges, Kraken, remarked that the environment for cryptocurrencies is not very encouraging in the United States. Powell was speaking to CNBC a few weeks ago. He confirmed the news for Kraken’s public listing in 2022. However, Powell told the media that the crypto exchange was cynical about the Coinbase public listing.

Kraken’s CEO told the media that countries like China are dealing with cryptocurrencies in a very organized and attentive manner. He also added that if the stance of the US government does not mellow down, many crypto enterprises could eventually opt out of the country in search of new and friendly markets. 

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VISA is Getting Ready to Issue Cryptocurrency Credit Cards in the Market Powered by Stellar, Tala, and Circle

VISA has embraced cryptocurrencies in the ongoing year. The company has announced several new crypto projects in the course of the past few months. The users of VISA can now use Bitcoin and other digital assets to settle payments on the dashboard. As the digital payments giant is rapidly evolving its crypto vision for the ongoing year, exciting affiliations and partnerships for facilitating crypto expansion keep increasing.

The largest payment facilitator in the world has recently started a new crypto project with Tala, Stellar, and Circle. Tala Inc. is an online micro loaning service that provides easy credit facilities for users without the intervention of central banks via mobile application. The user of Tala can apply for a credit ranging from $50 to $200 without having any prior credit score records. The Circle is a peer-to-peer payments service provider that has introduced USDC stablecoin. USDC uses Stellar as the blockchain ecosystem.

Stellar (XLM) is Gaining Visible Momentum after the VISA Announcement

The new affiliation of VISA with Circle and Tala is focused on increasing user access in crypto payments on a mainstream level. The Tala, in cooperation with Circle, would enable unbanked access to USDC in a digital wallet. Meanwhile, VISA would issue credit cards that are connected to these digital wallets and offer shopping funds with a crypto balance to about 70 million merchants worldwide.

These developments have started to push XLM skywards. During the last 24 hours, XLM has increased by 0.65% after a 13.4% surge. According to a trader Pentoshi, the token has started to break out of the 680 days stagnant range. He claims that when crypto breaks out of the multi-year range, it is bound to outperform all the market expectations.

What the Executive Brass at Tala, Stellar, VISA, and Circle have to say about the Current Venture?

Shivani Siroya, CEO at Tala, said that the main goal of the recent business venture is to make remittance more convenient by decreasing the transaction fees to a minimum. Tala consumers would be able to engage in cross-border crypto and fiat-to-crypto services in India, Mexico, Kenya, and other major economies in Asia. Denelle Dixon, CEO at Stellar Development Foundation, claims that the enterprise believes that financial independence should be a right, not a privilege.

She further added that with this business partnership, the company is moving ahead with its mission to transform the financial system to have equitable access at a global scale. Meanwhile, Cuy Sheffield, the head of the crypto at VISA, opines that the enterprise is excited to expand to a whole new market range where it could cater to the consumers who do not have access to financial services readily available. 

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Ripple Labs has Recruited the Former US Treasury Secretary to Assist with the Lawsuit

Ripple Labs has started to struggle once again with the legal curveballs from prosecution in the ongoing SEC Lawsuit. The company has recently called on board a tag team of wonder women to safely help them get out of the troubled waters and provide support for the expansion of the recent operations. The first recruit is Rosa Gumataotao Rios, who served as the US treasury secretary under the Obama administration. Rios was also head of the department at Fort Knox and Bureau of Engraving and Printing. 

The next candidate is Kristina Campbell. She has served as a former executive at Green Dot and PayNearMe, which are both fintech-centric service providers. Rios is also known to be an avid women’s rights activist. These appointments point towards Ripple’s attempt to reconcile their public image. 

Ripple Labs is Getting Ready for a Long Term Legal Battle

Under her new capacity as the Board of Director at Ripple Labs, Rios states about her recruitment as a new challenge that would be added to her long list of conquests in terms of financial inclusion and freedom advocacy. She also said that Ripple Labs had set a precedent for being the blockchain-centric enterprise that knows how to make use of its digital tokens in the market. She is positive that it would be a great accomplishment to introduce an innovative fintech panacea for XRP.

Meanwhile, Brad Garlinghouse, the prosecuted executive of Ripple Labs, seems to garner great expectations from their recruits. He said that the background and experience that Rios brings to the table would prove invaluable exposure to the Ripple Labs. About Campbell, he is certain that her position in the sought-after fintech organizations would accelerate the business growth and it would encourage teamwork.

The Tug of War between SEC and Ripple Labs Continues since Last Year

SEC is holding on to the Ripple Labs case since December 2020. The agency is insisting on proving Ripple Labs token XRP as an unregistered security. Ripple Labs has called for the SEC internal communication that sets apart Ethereum’s and Bitcoin status to be different from XRP. However, Magistrate Judge Sarah Netburn has only allowed disclosing the ‘third-party to SEC’ communications thus far.

Another challenge that Ripple Labs would have to prepare for is that SEC is moving to disqualify the 16,000 XRP Investors. Under the command of senior attorney John Deaton, the XRP movants are fighting for a chance to get a seat at the court under the capacity of third-party defendants. Even though the motion was granted a few days ago, SEC has recently filed a counter-motion to refute it.  

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Cardano (ADA) Registers New ATH as the Institutional Interest is Increasing

At $1.4798, ADA has not only registered a new ATH but is also ready to register a new ATH of $1.5 within 24 hours. The ATH was first recorded at the Binance exchange. After the successful implementation of the Mary update in March, ADA gained a lot of exposure into the institutional and retail markets. The Mary upgrade enabled other cryptocurrencies to be hosted on the Cardano blockchain ecosystem.

The recent gains for the ADA are quite encouraging. However, the altcoin has not been able to overtake Ethereum, Binance, Dogecoin, and XRP. The 350% upsurge after the Mary update could not push the third-generation crypto farther on the crypto scale. Since last week, IOHK-the parent company of Cardano, has been getting a lot of media coverage. It seems that investors wish to know more about the partnership Cardano is forming with different African governments.

Cardano Introduces RealFi in Comparison with DeFi Crypto Model

Charles Hoskinson, the brain behind Cardano, has signed a contract with the Ethiopian Ministry of Education. The secondary school system stands to benefit from a blockchain identification and enrollment program. The project would make it easy for the teachers to identify the students’ major areas of weakness and issues. IOHK pronounced his African venture as RealFi that encompasses the real-life impact of blockchain technology.

Both students and teachers would get access to the free tablets with an internet connection. They would also be able to enroll in the blockchain technical studies certification to make sure that they learn to use the digital assets to the best of their abilities. The program is being sponsored by SingularityNet, an AI firm that has been conducting experiments with humanized robots like Sophia. The partnership would focus on developing artificial intelligence and robotics projects.

Another African State Follows Suit after the Ethiopian Student’s Project Showed Signs of Potential

After one week of the Ethiopian government entering into an educational reformation partnership with Cardano, the government of Tanzania has also followed suit. Cardano has joined hands with world mobile telecommunication service providers. The sub-Saharan country of Tanzania is a place where a huge part of the population is unable to access uninterrupted internet services 24/7. 

The project would try to introduce 5G internet services to 100,000 citizens of Tanzania. At the risk of losing profits, the mobile company is willing to use the shared economic system to expand to smaller and remotely located areas. Private business entities would be able to run nodes to aid a stable internet stream. These businesses would be incentivized by WMT- a digital token issued by World Mobile Network.

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