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Cryptocurrency Bitcoin Cash’s Price Increased More Than 7% Within 24 hours – Bitcoin Cash (BCH/USD)

Bitcoin Cash’s BCH/USD price has increased 7.42% over the past 24 hours to $123.31. Over the past week, BCH has experienced an uptick of over 8.0%, moving from $113.98 to its current price. As it stands right now, the coin’s all-time high is $3,785.82.

The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 38.0% over the past week while the circulating supply of the coin has risen 0.63%. This brings the circulating supply to 19.19 million, which makes up an estimated 91.37% of its max supply of 21.00 million. According to our data, the current market cap ranking for BCH is #32 at $2.38 billion.

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.


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Why a Texas blockchain company is breaking ground on a second facility in North Dakota – InForum

Applied Blockchain broke ground on a nearly $100 million, 180 megawatt high-performance computing center Thursday, Sept. 8 in Ellendale, North Dakota.

The groundbreaking in Ellendale closely follows the opening of a similar facility in Jamestown, which went online earlier in 2022. What brought the Texas company to North Dakota, and how do locals feel about this new facility? Host Thomas Evanella breaks it down.

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Cryptocurrency News And Price Weekly Wrap-Up For Sept. 30

Cryptocurrency prices were largely flat over the past week as the top tokens posted marginal gains and losses. While there wasn’t much major price action, there were plenty of major headlines. From Elon Musk’s plans for a blockchain social media platform and crypto payments on Twitter (TWTR), to Disney’s (DIS) crypto plans and the latest FTX. Here’s the top cryptocurrency news from the week.




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Be sure to also check this week’s coverage of cryptocurrency ETFs like BITQ, BLOK and BITS.

Click here for the latest Cryptocurrency Prices and News. And if you’re new to the world of Bitcoin, Ethereum, blockchain and more, stop by our What Is Cryptocurrency page.

Cryptocurrency Price Action

Bitcoin was around $19,400 late Friday after reaching as high as $20,171 on the day. Meanwhile, Ethereum hovers around $1,330 after falling from Friday’s peak of $1,372.

Ethereum’s price has slipped after merging to a proof-of-stake network that should make the system faster and vastly more energy efficient.

Cryptocurrency Prices Heat Map:

Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.

Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.

View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.

Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.

Musk’s Texts On Twitter, Blockchain, Cryptocurrencies

Elon Musk floated ideas of bringing Twitter (TWTR) to the blockchain, making it a paid service, incorporating Doge coin and teaming up with Sam Bankman-Fried, in texts revealed ahead of his deposition.

In discussions with his brother Kimbal, the two discussed a blockchain-based social media system where users pay to register messages on the chain. It would “cut out the vast majority of spam and bots. There is no throat to choke, so free speech is guaranteed,” wrote Elon.  Those discussions formulated into a pitch to Boring CEO Steve Davis. “My Plan B is a blockchain-based version of Twitter, where the ‘tweets’ are embedded in the transaction as comments. So you’d have to pay maybe 0.1 Doge per comment or repost of that comment,” Musk texted. He was introduced to Sam Bankman-Fried of crypto exchange FTX, who was willing to put $5 billion into the Twitter bid. However, Elon was apprehensive about the feasibility of adding a site as large as Twitter to the blockchain.

Celsius Creditors Seek Unreturned Collateral

Creditors of bankrupt crypto lender Celsius subpoenaed Equities First, a lending firm which owes Celsius $439 million in collateral. When Celsius attempted to repay loans it borrowed, Equities First was unable to return its collateral, according to former CEO Alex Mashinsky. Creditors are seeking information about the loan agreements and the reason Equities First is unable to pay.

CTFC Chair Comments On Bitcoin

Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said cryptocurrency regulations could double the price of Bitcoin in a talk at New York University’s School of Law. Behnam said growth might occur in a well-regulated space as institutional inflows will only happen if there’s a regulatory structure for the markets. “Bitcoin might double in price if there’s a CFTC-regulated market,” he said.

Cardano Network Investment

The Cardano blockchain’s development lab, Emurgo, will invest $200 million over the next three years to grow Cardano’s ecosystem, CoinDesk reports. Emurgo will use its own capital to fund projects built on Cardano and on other networks that integrate with Cardano. Half of the funds will be used for investments in Africa as part of Emurgo’s investment initiative in the continent. Cardano’s ADA token is the eighth-largest cryptocurrency by market cap, according to CoinMarketCap data.

Bitcoin Payments Company Raises Funds

Bitcoin payments company Strike raised $80 million in a funding round. Strike is a digital payments provider for Bitcoin’s Lightning Network that enables faster, cheaper transactions. Strike plans to add partnerships and new product lines to expand its customer base to include large financial institutions and businesses. The round was  led by crypto investment firm Ten31, Washington University in St. Louis and the University of Wyoming.

FTX Considers Another Buyout

FTX may buy the assets of bankrupt crypto lender Celsius, according to Bloomberg reports. On Monday, FTX won the bid to buy out the assets of Voyager Digital, which filed for bankruptcy in July. And on Tuesday, Celsius CEO Alex Mashinsky stepped down from his position and appointed CFO Chris Ferraro as his interim successor.

Behind Bitcoin ETFs

A look behind Bitcoin ETFs. How an ancient farmers’ custom got SEC approval for cryptocurrency.

Robinhood (HOOD) launched the beta for its web3 crypto wallet on Tuesday. Named Robinhood Wallet, the standalone app will support the Polygon blockchain network and roll out for 10,000 iOS customers who joined the waitlist in May. Robinhood says it will allow users to trade and swap crypto with no network fees, “to make crypto more accessible to everyone.”

Crypto Lender Sent Cease and Desist Orders

Crypto lender Nexo Group faces cease and desist orders from eight different states in connection with unregistered, interest-earning cryptocurrency products. Of the filers, California and New York say Nexo never registered with state regulators and misrepresented that they are a licensed platform to investors. Nexo says it has been working with federal and state regulators. And is committed to finding a path for regulating its offerings in the U.S., “ideally on a federal level.” Nexo says most of its interest rates are in single-digit percentages. And only one asset has an interest rate over 36%.

Russia Plans Digital Ruble

Russia plans to launch a digital ruble for mutual settlements and international trade with China starting next year, Reuters reports. The digital ruble is currently being tested for settlement with Russian banks. Russian officials say geo-political conflicts and sanctions have limited Russia’s access to the international trade market. So they have been working on alternate trade settlements and modes of payment.

Another FTX Buyout

Bahamas-based cryptocurrency exchange FTX won the auction for the assets of bankrupt crypto broker Voyager Digital on Tuesday, with a bid valued at $1.42 billion. Exchanges FTX and Binance competed to purchase the assets, which included all of Voyager’s cryptocurrency and estimated around $1.3 billion at current market prices. FTX has acquired and bailed out a number of distressed crypto firms this year as prices plummeted. This most recent asset acquisition will conclude at a to-be-determined future date.

Red Notice Issued For Crypto Founder

Bloomberg reports that Interpol and the South Korean government have issued a red notice against Do Kwon, the co-founder of Terraform Labs. Terraform created the Terra blockchain, and its TerraUSD algorithmic stablecoin based on that blockchain collapsed earlier this year. The red notice means law enforcement agencies globally will cooperate to locate and arrest Kwon. Kwon faces legal challenges in multiple jurisdictions and is wanted for violating capital markets rules in South Korea.

California Crypto Bill Vetoed

California Governor Gavin Newsom vetoed a bill Friday that would establish a licensing and regulatory framework for cryptocurrency in California. In his reasoning, Newsom  said his office has conducted “extensive research and outreach” over the past several months. And that it would be “premature to lock a licensing structure in statute without considering this work and forthcoming federal actions.”

Disney Expands Into NFTs, Crypto, Blockchain, Metaverse

Disney (DIS) is looking for a crypto lawyer. The media giant posted a job listing for an “experienced corporate attorney” to work on emerging technologies including blockchain, NFTs, the metaverse and decentralized finance. According to the responsibilities list, the company plans to launch global NFT products that will also collaborate with their Disney Parks and Experiences business segment. And Disney is looking at new products “involving digital currency and blockchain technology.”

New Kraken CEO Doesn’t Plan To Register With SEC

Dave Ripley, the newly-appointed CEO of crypto exchange Kraken, doesn’t plan on registering the company with the Securities and Exchange Commission, Reuters reported. Ripley said he doesn’t see a need to register with the SEC because Kraken does not offer securities. But, he said, if a new, interesting security token launched, “we would potentially be interested in that path.” The question of registration has become a hot-button issue for exchanges like Kraken and Coinbase (COIN), which was probed by the SEC earlier this summer for potentially selling cryptocurrency securities.

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Bitcoin and Crypto Rock Solid Despite Over 2% Drop in S&P 500, Will It Sustain?

Despite a sharp correction in the U.S. equity markets on Thursday, September 29, Bitcoin (BTC) and the broader crypto market have remained rock solid with little volatility. As of press time, BTC is trading 0.42% down at a price of $19,357 with a market cap of $371 billion.

On the weekly chart also, the BTC has shown less than 1% movement and has been holding up pretty well. At the same time, the S&P 500 underwent a very strong on Thursday, tanking more than 2%. So what we are seeing now could be the initial signs of Bitcoin’s long-term decoupling from the U.S. equity market. As on-chain data provider Santiment reports:

#Bitcoin has stuck around $19.4k and #Ethereum at $1,340 today. But the story is the fact that they are doing so without the support of the #SP500, which is down -2.4%. If the correlation is easing between #crypto & #equities, this is very encouraging.

Courtesy: Santiment

Bitcoin vs Banks

As we know, central banks across the globe have been struggling to deal with current macro conditions. Amid its quantitative tightening measures, the British central bank has pivoted to money printing measures to protect its bond market.

Speaking at CNBC’s Delivering Alpha conference on Wednesday, legendary investor Stanley Druckenmiller believes that crypto could see a revival as the trust in the central bank fades away. The investor believes that the U.S. economy is already in deep trouble and that recession is very likely by 2023. He added:

I could see cryptocurrency having a big role in a Renaissance because people just aren’t going to trust the central banks.

The investor said that he doesn’t own any crypto as of now but added “it’s tough for me to own anything like that with central banks tightening”. Sven Henrich, the founder of NorthmanTrader, a markets research firm said: “You know we’ve reached a unique time in history when #Bitcoin suddenly is less volatile than fiat currencies”.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.




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1 Ethereum to Euro or convert 1 ETH to EUR – Cleantech Blog

While both Bitcoin and Ether can function as a store of value and method of payment, the underlying Ethereum blockchain was designed as a platform for executing software in the form of smart contracts. This means that in addition to supporting a general-purpose digital currency, Ethereum https://www.beaxy.com/exchange/eth-usd/ is also the foundation for many decentralized applications based on blockchain technology. In fact, the burgeoning decentralized finance sector is built mostly on Ethereum. Despite the general volatility of cryptocurrencies, many consider ether one of the most stable and flexible coins.

“It’s like a software upgrade,” says Doug Boneparth, a financial advisor and president of Bone Fide Wealth. The Fed recently made its largest interest rate hike in 28 years, which means higher APYs on NextAdvisor. Bloomberg Markets European Close Bloomberg Markets European Close. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. Today’s top gainer was Flow , which was up by 21.48 per cent at $2.06. The top loser was Ethereum Classic , which was down by 5.41 per cent at $24.51. Ltd. is exempted by MAS from holding a licence to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to Quoine Pte. Ltd. (trading under the brand name “Liquid”) may only be able to offer certain products, features and/or services on the Liquid App due to potential or actual regulatory restrictions.

When Was Ethereum Created?

The money you put into cryptocurrencies is not safe from value fluctuations. There are, however, ways to select an investment platform that will keep your investments safe. You want to look for a platform that operates in a safe and regulated environment with an experienced team. The platform should provide sufficient liquidity, reasonable volumes and employ state-of-the-art technology and safety while offering customers an easy-to-use, intuitive interface. You also want the platform of your choice to support fiat currencies as well as cryptocurrencies. With a soft fork, only one blockchain will remain valid as users adopt the update.
1 eth
If the enhanced load balancing mode is used, change the load balancing mode of the corresponding packet type in the enhanced profile. You can run the display load-balance-profile command to display detailed information about a specified load balancing profile. In V100R002, run the display acl item resource slot slot-id apptype cpcar cpcar-name command in the hidden view to check whether the PHYEntryId field exists for LACP. For the S9300, S9700, S7700, S12700, S7900, and other fixed switches, configure an ACL to obtain LACPDUs. If the remote end sends LACPDUs but the local end does not receive the LACPDUs, check whether the ACL has been delivered properly. For the S2700, S3700SI, S3700EI, S5700EI, S5700SI, and S5710LI, if the remote end sends LACPDUs but the local end does not receive the LACPDUs, check whether bpdu enable is configured on the Eth-Trunk. In V100R006 and later versions, bpdu enable is configured by default. If the increase in the number of received LACPDUs is incorrect, check whether the remote end is not sending LACPDUs or the local end is discarding the received LACPDUs. If the number of LACPDUs received on the local end is incorrect, locate the reason the local interface does not receive LACPDUs.
Whereas with a hard fork, both the old and new blockchains exist side by side, which means that the software must be updated to work by the new rules. Both forks create a split, but a hard fork creates two blockchains and a soft fork is meant to result in one. As the graphic below displays, nodes that are not upgraded reject the new rules, which creates a divergence, or hard fork, in the blockchain. High-profile crypto professionals are predicting an ETH bull run to as high as $10,000 in 2022, while billionaire Mark Cuban has been quoted saying he’s bullish on Ethereum’s upcoming merge.

What Does the Future Hold for Ethereum?

Talking about charts and analysis – TradingView charts are available on the platform, which has all the tools and data that any trader needs, especially when they trade with Ethereum or US Dollar. Our clients can analyze statistical information in the graphical format, observe the real-time asset prices and create trading strategies. The Ethereum network can be used by anybody to create and run smart contracts, which are software programs that run autonomously, without user intervention. Ethereum’s growth can be attributed in part to its smart contract capability, which has enabled a growing ecosystem of Dapps, non-fungible tokens and more. The live price of Ethereum is $ 1,598.22 per (ETH / USD) today with a current market cap of $ 194.38B USD. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

If the destination MAC address of a packet does not exist in the MAC address table, the packet is an unknown unicast packet. The physical status of Eth-Trunk member interfaces must be Up so that the Eth-Trunk can work properly. Integrated with the Blockchain Wallet, our Exchange is a one-stop shop where you can deposit funds and place trades seamlessly in minutes. The crystal structure of the porcine lipase-colipase-tetraethylene glycol monooctyl ether complex. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. Live tracking and notifications + flexible delivery and payment options.

As the dApp market and DeFi sector grow, the Ethereum blockchain grows more valuable, making Ethereum worth more. Ethereum is a public blockchain platform that allows developers to build and deploy decentralized applications. Ethereum runs smart contracts, which allow a higher level of protection from downtime, censorship, fraud or third party interference. The rates displayed by the calculator represent market exchange rates, and are provided for informational and estimation purposes only. They do not include any conversion fees or other charges applicable to a conversion or other transaction.
1 eth
After every boom and bust cycle, Ethereum comes out the other side with a fundamentally stronger platform and a broader developer community backing it. These fundamental improvements would suggest a positive long-term outlook on the price of Ethereum. The number of transactions successfully processed on the network in the last 24 hours. You can reimagine existing services as decentralized, open applications. The tech is new and ever-evolving – it helps to have a guide. Do you know that each Zonda user has an individual wallet address for each crypto? Returns the chain ID of the current connected node as described in the EIP-695. Returns the hash of the current block, the seedHash, and the boundary condition to be met (“target”).

Top Currencies

Ethereum 2.0 is an upgrade that aims to solve the blockchain trilemma – security, scalability, and decentralization. In alternative smart contract platforms, they are designed to be highly scalable but compromises on decentralization. Whereas a highly secured and decentralized blockchain network would have the trade off being highly unscalable. Ethereum 2.0 brings a very different flavor of design that aims to addresses those issues by way of using Proof-of-Stake , Beacon Chain, Sharding, and Execution Environment. Due to the complexity of the project, the developement will take place in 3 phases. A Proof-of-Stake Beacon Chain have been deployed and users are staking their ETH as a sign of confidence of the upcoming network. Research and development are still in progress to roll out the remaining phases. The hard fork also helped DAO token holders get their ether funds returned. A fork in a blockchain can occur in any crypto-technology platform—not only Bitcoin.

Polygon Unveils zkEVM, ‘Ethereum-Equivalent’ ZK Scaling Solution – Cryptonews

Polygon Unveils zkEVM, ‘Ethereum-Equivalent’ ZK Scaling Solution.

Posted: Wed, 20 Jul 2022 12:33:00 GMT [source]

A dispute between Hoskinson and Buterin over whether Ethereum should be a for-profit company, led to Hoskinson leaving the project. With PoS and sharding both enabled, Ethereum developers expect that they will make further tweaks to enhance the security of the network. That includes adding anonymity features to conceal validator identities behind block proposals. It also includes leveraging new technologies such as the Verifiable Delay Function to further secure the randomness of validator assignments and make it harder for malicious actors to disrupt the network. There are three main types of nodes that operate on the Ethereum network. Cryptoassets are unregulated in some EU countries and the UK. EToro USA LLC; Investments are subject to market risk, including the possible loss of principal. The Ethereum price today comes from a combination of all those factors. The value of Ethereum doubled as 2020 began, then bottomed out at 72 € following a 45% one-day crash in March.

Top Crypto to Fiat Rates

Next, you will need to confirm the transaction in your wallet. Please note that this transaction is on Layer 1 and standard gas fees will apply. The main building was constructed 1858–1864 outside and right above the eastern border of the town, but nowadays it is located right in the heart of the city. As the town and university grew, ETH Zurich spread into the surrounding vineyards and later quarters. As a result, the Zentrum campus consists of various buildings and institutions throughout Zürich and firmly integrates the ETH Zurich in the city. The main building stands directly across the street from the University Hospital of Zurich and the University of Zurich. As at all universities in Switzerland, the academic year is divided into two semesters.
Ethereum and Ethereum-compatible blockchains are also the foundation of the nascent non-fungible token market. Read more about trender here. As NFTs grow in value and popularity, the strain on the Ethereum blockchain rises in ways that are visible on any ETH chart that displays prices. Ethereum’s success has ironically become a significant factor limiting its growth. All the distributed applications hosted on Ethereum share a total bandwidth of 30 blockchain transactions per second. DApp developers use sharding techniques and Ethereum side chains to work around this limit, but the execution bottleneck is a significant factor behind the growing popularity of alternative blockchains. Although the Ethereum team raised 1.9 € million in a 2014 initial coin offering, the project remained in a testing phase until 30 July 2015. That’s when the first data – the so-called genesis block – launched the public Ethereum blockchain, serving as a sort of Ethereum converter to transform the coins from curiosities to investments.

The usage of the Ethereum network is becoming even more extensive in the wake of the decentralized finance explosion. Many DeFi tokens are based on the Ethereum blockchain, and their users, in turn, are paying the Ethereum gas fees. Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. Ether was one of the first altcoins that was launched after Bitcoin and is a key part of the Ethereum network. Ethereum is a platform and it describes Ether as “gas” that fuels the network. Like Bitcoin, Ether is based on blockchain technology, but one of the advancements that its creators brought was the ability to build smart contracts into the blockchain. Ethereum is a blockchain-based software platform with the native coin, ether. Ethereum smart contracts support a variety of distributed apps across the crypto ecosystem. A hard fork , as it relates to blockchain technology, is a radical change to a network’s protocol that makes previously invalid blocks and transactions valid, or vice-versa.
https://www.beaxy.com/
Ethereum allows users to build and deploy software, commonly in the form of Dapps, which are then powered by a global distributed network of computers all running Ethereum. The Ethereum network is decentralized, making it highly resistant to any form of censorship or downtime. The percent change in trading volume for this asset compared to 7 days ago. Smart contracts work on the “if this, then that” principle. Whenever a certain condition is fulfilled, the smart contract will carry out the operation as programmed. To check Ethereum’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. A proposed date for the transition from a proof-of-work to proof-of-stake protocol signaled a return of optimism to crypto markets. The price of Ether has changed significantly since the coin was introduced.

  • Using a blockchain ensures security and manages digital relationships as part of a system of record.
  • In other words, Ethereum has ambitious plans in decentralizing not only the trade of currencies but also many different levels of business operations.
  • A college student in Canada has mined enough to buy a BMW motorcycle and a modified 2006 Dodge Charger SRT—and pay for gas every month.

“This will be a huge financial hit and almost a complete loss of a good source of income,” says the Ukrainian translator, who asked to stay anonymous for fear of being robbed. The network currently has around 2.5B locked assets and has processed over 3 million transactions. Arbitrum relies on Ethereum’s Layer 1 security, making it a secure network with less expensive gas fees. What makes gas fees lower on Arbitrum is the use of optimistic rollups.

The journey wasn’t a smooth one, as ETH’s volatility and external market factors led to many surges and crashes along the way. The pattern of price gains, sudden drops, and gradual rebuilding to new highs has continued to the present, and these patterns help explain the Ethereum price today. The crypto market slumped in 2018, and Ethereum slumped with it. Ether lost more than 90% of its value, with ETH worth about 110 € at the end of the year.




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Follow the digital money: 4 federal use cases for blockchain analytics

Cryptocurrencies and other blockchain-based digital assets play an increasingly central role in financial markets. They’re also becoming a more frequent source of regulatory concern, as well as criminal activity.

This summer, the Justice Department announced enforcement actions in cryptocurrency fraud cases involving over $100 million in intended losses. The cases included a fraudulent investment fund trading on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial crypto…

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Cryptocurrencies and other blockchain-based digital assets play an increasingly central role in financial markets. They’re also becoming a more frequent source of regulatory concern, as well as criminal activity.

This summer, the Justice Department announced enforcement actions in cryptocurrency fraud cases involving over $100 million in intended losses. The cases included a fraudulent investment fund trading on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial crypto coin offering.

For federal agencies, blockchain analytics offer a roadmap to navigating this increasingly hazardous landscape. Specialized analytical tools deliver real-time visibility into these often-chaotic markets, exploding the myth of anonymity on blockchain and bringing a higher level of transparency to supposedly secret transactions.

In fact, some high-level regulators are pushing for the use of analytics to help manage potential criminal activity associated with digital assets. The New York State Department of Financial Services, for example, recently issued guidance encouraging virtual currency firms to use blockchain analytics to help set controls and meet anti-money-laundering and sanctions-related compliance requirements.

Why blockchain analytics?

Volume and intricacy make it nearly impossible for human operators to unravel the deeply interwoven threads of activity on a blockchain. Where the human eye cannot possibly account for the scale and complexity of transactions, analytics can paint a clear and definitive picture.

Machine-scale analytics are perfectly suited to drill down, organize the data, and present intelligible insights. Data analytics tools make it possible to go deep into the complex web of transactions in a distributed ledger: surfacing the jumps between transactions and identifying the relationships between the potentially thousands of exchanges.

Top federal use cases

The following four key use cases illuminate the power of blockchain analytics in the federal sector:

Tracking and tracing: Law enforcement and internal investigators already are familiar with a key capability in the realm of data analytics: “Link analysis.” In the global war on terror, analysts used this technique to connect the dots between key players, to gain clarity around the scope and activities of individuals who sought to keep their connections invisible to prying eyes.

For bad actors to exploit blockchain technology for criminal purposes, they need to move assets between addresses or entities. Understanding how those nodes are connected represents the digital equivalent of link analysis. Where counter-terror investigators used cell phone records to discover the ties between bad actors, blockchain analytics can scrutinize the activity of wallets to achieve the same end.

Identifying bad actors: These same techniques can be leveraged in investigations around money laundering and fraud, allowing investigators to see in detail where and how the money is flowing.

Analytics offer the ability to monitor transactions and detect suspicious patterns of activity. Because cryptocurrency is not truly anonymized, but rather ‘pseudo-anonymous,’ analysts can use their ability to follow illicit funds to find not just bad “actions” but also bad “actors.”

Ensuring compliance: Regulatory decision-makers need to understand the varied activities unfolding on a blockchain and how virtual money is shared. They need accurate insights into the economic activities of nations and individuals. Analytic tools offer that higher level of awareness.

With every piece of information coded, validated and stored, analytics offer the means to ensure compliance and track potentially nefarious activity. Given the rapid pace of adoption of cryptocurrency, analytics will be needed to drive a deeper understanding of where and how the money is flowing. For regulators, analytics will build confidence in the system, ensuring that all participants in the digital assets ecosystem are operating in compliance with existing statutes.

Evaluating Global Trends and Transfers: Regulators need a clear picture of economic activity at the macro level. The Ukraine crisis, for example, brought to the fore the need for nations to be able to understand and evaluate the transfer of funds on a global scale.

Along with their peers in the Defense Department and the Department of Justice, financial regulators have a vested interest in elevating their ability to parse out these global-scale economic trends. Analytic tools make it possible to literally see how money moves across the geographical map.

Blockchain represents a fundamental shift in the underpinnings of economic activity and will play a key role in supporting both law enforcement and regulators, in driving deeper insights, better decision making, and ultimately more effective actions for those impacted by the rising adoption of digital assets.

Rupal Lamorena is managing director, financial regulatory agency account lead and Alejandro Lira Volpi is managing director, financial services strategy lead at Accenture Federal Services. They are the authors of “Follow the Digital Money: A Federal Guide to the Power of Analytics in the Digital Asset Economy.”

 




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Bitcoin Slowly Trends Upwards Into $20,000, Will The Monthly Candle Turn Green?

Originally posted here.
By: Reynaldo Marquez

Overview

Bitcoin has seen some profits over today’s trading session as September’s monthly candle is coming to an end. Market participants were expecting a tight battle between bullish and bearish forces, but the cryptocurrency has been moving sideways with slight upward pressure. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins At the time of writing, Bitcoin (BTC) trades at $19,700 with a 2% and 1% profit over the last 24 hours and 7 days. Other cryptocurrencies in the crypto top 10 by market cap are displaying similar price action, but BTC seems to be leading the low timeframe bullish momentum. People Buy Bitcoin To Hedge Against Their Currencies Downside Trend? Data from Material Indicators shows that investors with buying orders from $1,000 to $10,000 bought into Bitcoin’s recent price action while other investors sold their coins. In that sense, a rally into the monthly close seems unlikely. However, Material Indicators also show that ask (sell) liquidity has been decreasing as Bitcoin is rejected from the area of around $20,000. If the price can resume its bullish momentum and can gain more support from larger buyers, bears might be unable to defend $20,000. This might lead BTC to higher levels, and possibly for a reclaim of the levels around $26,000, according to a report from NewsBTC. The cryptocurrency must flip $20,100 into support, analyst from Material Indicators wrote the following about BTC odds as the market heads into the monthly close: There are short term signs of a potential pump, but the crossing of key moving averages suggests the broader trend will continue down. Resist the urge to overtrade or FOMO in. Additional data provided by research firm Messari picked a spike in buying pressure from investors in the Eurozone and the United Kingdom (UK). This pressure is related to a decline in the value of their currencies as the U.S. dollar rallied to a multi-decade high. The New Narrative, Will The Fed Pivot Leading Bitcoin To New Highs? This data from Messari has been put into question by several users. Regardless of its legitimacy, this data speaks about an increasing trend in the sector: more and more market participants are highlighting the impact of central banks in the financial sector and the global economy. According to a report from Charles Gasparino, a reporter for FOX Business, members of the U.S. Federal Reserve (Fed) are aware of the negative consequences of their monetary policy. They have brought a steep downside pressure for equities and risk-on assets, such as Bitcoin. SCOOP (1/2): @federalreserve officials getting increasingly worried about “financial stability” as opposed to inflation as higher rates begin to crush bonds, several big investors tell me. Fed growing worried about possible “Lehman Moment” w a 4% FF rate as Bonds and derivatives — Charles Gasparino (@CGasparino) September 30, 2022 Related Reading: Uniswap Could Slide Below Support Zone – No Demand For UNI This Week? If the pressure inside the Fed becomes too high, the financial institution might pivot its measures, and provide some room for a relief rally across the board. Speaking on this possibility, and on why Bitcoin has been showing strength relative to legacy financial assets, analyst William Clemente said: In theory: People front-running expected CB (Central Banks) pivot by buying BTC -> Perceived BTC “safe haven” flows -> Reflexive response from other market participants? Not my base case but non-zero possibility that my mind is open to.

The Post

Bitcoin has seen some profits over today’s trading session as September’s monthly candle is coming to an end. Market participants were expecting a tight battle between bullish and bearish forces, but the cryptocurrency has been moving sideways with slight upward pressure.

At the time of writing, Bitcoin (BTC) trades at $19,700 with a 2% and 1% profit over the last 24 hours and 7 days. Other cryptocurrencies in the crypto top 10 by market cap are displaying similar price action, but BTC seems to be leading the low timeframe bullish momentum.

BTC’s price records profits on the 4-hour chart. Source: BTCUSDT Tradingview

People Buy Bitcoin To Hedge Against Their Currencies Downside Trend?

Data from Material Indicators shows that investors with buying orders from $1,000 to $10,000 bought into Bitcoin’s recent price action while other investors sold their coins. In that sense, a rally into the monthly close seems unlikely.

However, Material Indicators also show that ask (sell) liquidity has been decreasing as Bitcoin is rejected from the area of around $20,000. If the price can resume its bullish momentum and can gain more support from larger buyers, bears might be unable to defend $20,000.

This might lead BTC to higher levels, and possibly for a reclaim of the levels around $26,000, according to a report from NewsBTC. The cryptocurrency must flip $20,100 into support, analyst from Material Indicators wrote the following about BTC odds as the market heads into the monthly close:

There are short term signs of a potential pump, but the crossing of key moving averages suggests the broader trend will continue down. Resist the urge to overtrade or FOMO in.

Additional data provided by research firm Messari picked a spike in buying pressure from investors in the Eurozone and the United Kingdom (UK). This pressure is related to a decline in the value of their currencies as the U.S. dollar rallied to a multi-decade high.

Source: Messari

The New Narrative, Will The Fed Pivot Leading Bitcoin To New Highs?

This data from Messari has been put into question by several users. Regardless of its legitimacy, this data speaks about an increasing trend in the sector: more and more market participants are highlighting the impact of central banks in the financial sector and the global economy.

According to a report from Charles Gasparino, a reporter for FOX Business, members of the U.S. Federal Reserve (Fed) are aware of the negative consequences of their monetary policy. They have brought a steep downside pressure for equities and risk-on assets, such as Bitcoin.

SCOOP (1/2): @federalreserve officials getting increasingly worried about “financial stability” as opposed to inflation as higher rates begin to crush bonds, several big investors tell me. Fed growing worried about possible “Lehman Moment” w a 4% FF rate as Bonds and derivatives

— Charles Gasparino (@CGasparino) September 30, 2022

If the pressure inside the Fed becomes too high, the financial institution might pivot its measures, and provide some room for a relief rally across the board. Speaking on this possibility, and on why Bitcoin has been showing strength relative to legacy financial assets, analyst William Clemente said :

In theory: People front-running expected CB (Central Banks) pivot by buying BTC -> Perceived BTC “safe haven” flows -> Reflexive response from other market participants? Not my base case but non-zero possibility that my mind is open to.


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What we know about the PiCoin craze in Northern Nigeria

On Wednesday, members of a closed cryptocurrency support Telegram channel, held a meeting across four states in the northern region of Nigeria—Kano, Niger, Sokoto, and Katsina—on how they could enjoy the full promises of the Pi Network, an entity that describes itself on its website as “the first and only digital currency you can mine on your phone. The resolution, according to Bashir Zhamani*, 27, who was part of one the meetings held in Suleja, a Niger state city, was to build a Pi chain mall in Kano, Nigeria where people can shop using their PiCoin, a digital currency mined on the Pi Network app. 

“Pioneers in China are already selling and buying phones and cars with their Pi,” he said. “We need to also start doing it here.” Pioneer is the name Pi Network users are called.

There are reports of malls scattered across Asia receiving Pi as payment and myriads of social media posts corroborating that—tweets about Asians, especially Chinese, paying for electronic gadgets with their PiCoin. Some Nigerians in the north of the country have also reportedly acquired cars and phones using their PiCoin. However, for a token that has no official price and hasn’t started trading yet, the  buzz is curious.

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PiCoin was founded by three Stanford students, Vince McPhilip, Chengdiao Fan and Nicolas Kokkalis in 2013, and its web app launched in 2014. The mobile app was released on March 14, 2019, allowing users to download it and earn tokens from their phones. Individuals could earn thousands of Pi tokens by pressing a green flash symbol on the app hourly. The process was simple and fulfilled the purpose of democratising crypto, as it required no monetary investment or strong technological know-how, unlike bitcoin and ethereum. As a result, it quickly acquired lots of users. In fact, as of June, the network said it has crossed the 35 million user mark.

For about eight years, between 2014 till this August, the network was at mining or pre-mainnet phase, meaning users could only mine and keep. This phase took so long that it bored out its enthusiasts and they abandoned the app en masse while some even declared it a waste of time. “I stopped mining for two years,” said Debo, a crypto enthusiast who resides in Ilorin, a capital city in the north-central region of Nigeria. But in March, when the network announced that users can now carry out a know-your-customer (KYC), a requirement to move to the next level, which is the mainnet phase, enthusiasm was rekindled.

The mainnet phase is simply the stage where actions can be carried on the coin within the network. Users can, for instance, perform P2P transactions with other pioneers who have also reached the mainnet stage. According to the network, the goals of the Mainnet phase are to make further progress in decentralisation and utilities, ensure stability and longevity, and retain growth and security. 

Zhamani, with 700 Pi hasn’t been verified yet while some pioneers he brought onto the network, including some who have as low as 60 Pi, have been verified. “Verification is by luck. Looks like the core team is using the KYC to screen out people,” Zhamani said. The core team is the team behind the Pi Network. Verification can take between five days to six months after means of identification is submitted. Debo, on the other hand, has been verified, and it took 2 weeks.

Debo has moved all his 1,700 Pi into the mainnet. But he said he has locked them for another three years. “I believe PiCoin has the tendency to be almost as valuable as the top crypto in the next three years, so I will wait until it launches fully,” he told TechCabal. Debo is betting the same way he did Solana, a coin he said gave him his first million. 

But not everybody can wait like Debo. For Audu*, a primary school teacher in a public school in Kano who also got verified into the Mainnet, selling is the best option as he doesn’t want to wait another three years to get monetary value. He entered the Mainnet with about 2500 Pi, and as soon as he knew he could do P2P transactions, he sold off more than half of it. “I still have 1000 Pi to sell or keep, but I’m glad to have made money from the effort,” he told TechCabal. 

A Pi was selling for ₦350 in August when the Mainnet migration started, then it dropped to  ₦300, and currently at  ₦150. Audu was able to sell his coin for  ₦300/Pi. This means that he made ₦450,000 from a piece of currency he acquired from a few taps on some app. He mentioned that his wife has more Pi than him and has made close to a million naira. Now that the price has come down by half of what they sold for, they are both considering holding on to the rest of the coin till whenever the next phase arrives and values go up. But for them, nothing is carved in stone and it feels good to know they can always pull up an app and sell off a few assets whenever they need money. 

For those buying Pi, there are two reasons: one, reselling to Asians who use it to acquire actual products; second, to collect and hold until it becomes the next bitcoin. This was confirmed to TechCabal by Soft, a crypto trader who asked for his real name to be hidden due to privacy concerns. There’s no other reason outside of this because the coin can only stay within the network for now. 

The Pi Network network uses a halving system, the same system bitcoin and other blockchain use to limit the supply of the coin. The network essentially halves the amount of Pi given in rewards after reaching certain milestones. For instance, users could mine 1.6 Pi when it first started, but as of now, the user count is in the tens of millions; only 0.2 Pi can be mined per hour. Once the token has 1 billion users, the mining rewards become 0.

Few days before the group meeting in Kano, a Twitter account named pen_griffen shared a image announcing the registration of a business called Arewa Pi Mega Mall with the Corporate Affairs Commission (CAC). While the image looks doctored, a quick search on the corporate registry returned that the business is truly registered. 

This level of enthusiasm is not strange in the cryptocurrency world as almost all tokens and shitcoin passed through this hyper phase where holders dream of an utopia powered by their newly-found and beloved coin, before they go bust. But unlike most shitcoin that were either rug-pulled or went bust due to their lack of utility within a few months or year that they launched, PiCoin has taken their time to build their network. In fact, they announce that they aren’t offering any initial coin offering (ICO), meaning they won’t be selling it. So anybody who wants a piece of the pie must download the Pi app, and the roadmap on its white paper is very clear to this.

Regardless of how good this coin may sound, whether it’s another crypto heaven or hell waiting to be unleashed is still unknown. But if there’s one thing we know in crypto, time will always tell. 

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