Tag: Crypto News (Page 1 of 5)

Bank of America is Freezing Accounts in New Scandal

Market News Daily - Bank of America is Freezing Accounts in New Scandal.
Market News Daily – Bank of America is Freezing Accounts in New Scandal.

Bank of America (NYSE:BAC) is either freezing bank accounts or closing accounts linked to Coinbase according to a number of customers in the bank’s latest scandal.

Coinbase CEO Brian Armstrong took conducted a poll after a user said their Bank of America account had been closed for no apparent reason after a 15-year run.

The Bank of America customer stated that they do Coinbase transactions directly from the bank.

“This is a war on Bitcoin & crypto”, they said on Twitter.

At the time of this publication, more than 1,400 users voted to have been affected by a similar or same occurrence.

“Closed my account with them in 2010 after 10yrs. Worst bank I ever had,” said one user.

“Following the recent lawsuits by the U.S. Securities and Exchange Commission (SEC) against major crypto players Binance and Coinbase, banking institutions have grown cautious about engaging with these firms,” says Coinpedia.

But this isn’t Bank of America’s first rodeo in violating its customers.

The Consumer Financial Protection Bureau announced Tuesday that an investigation found that Bank of America harmed hundreds of thousands of customers across multiple product lines over a period of several years through a series of illegal practices.

Bank of America is paying a whopping $250 million fine for double charging insufficient fund fees and opening new accounts without customer’s knowledge or consent.

While not everyone may be experiencing Bank of America freeze or close their bank accounts relating to crypto, it’s undoubtly a mess for those who are.

Related: How to Invest in Cryptocurrency for Beginners

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Latest Bank of America News

Market News Daily - Bank of America is Freezing Accounts in New Scandal.
Market News Daily – Bank of America is Freezing Accounts in New Scandal.

A new study shows Bank of America is leading in market cap losses compared to its peers this year.

Dow Jones market data shows Bank of America has suffered a -$36.9 billion drop in market capitalization since March 8 of this year.

In second place is U.S. Bancorp with -$20.11 billion, followed by Truist at -$17.49 billion.

Wells Fargo earns fourth place with a market cap loss of -13.91 billion and PNC in fifth with -$8.69 billion in losses.

Regulators have said that the banking system is safe and that deposits have stabilized after record outflows across the system in the first quarter.

Many banks still posted solid first-quarter profits because they were able to charge more interest on loans than they paid to depositors, per WSJ.

However, investors and customers remain on alert.

A report in June showed that Americans pulled $472bn from big banks in the first quarter, more than the $100 billion previously reported.

The $472 billion outflow in deposits outpaced the drop that banks saw following 2008 financial crash shattering a 29-year record,” says Boston Business Journal.

Investors dumped banks after the collapse of Silicon Valley Bank and Signature Bank in March which sparked a crisis of confidence in the system and led short sellers to take advantage of the volatility.

Now banks are bracing for more turmoil heading into the third quarter this year.

Bank of America stock is down more than -11% this year-to-date.

Also Read: Analysts Make Painful Decision to Downgrade Big Banks

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Largest US Banks Are Now Seeing Record Plunge in Deposits

The 25 largest US banks are now seeing a record plunge in deposits according to the latest study conducted by the Federal Reserve Economic Data (FRED).

According to the FRED data, between July 5 and the most current reading on July 26, the 25 largest U.S. banks saw a plunge of $174 billion in deposits.

Deposits at the 25-largest domestically-chartered U.S. commercial banks peaked at $11.680 trillion on April 13, 2022, according to the updated H.8 data maintained at the Federal Reserve Economic Database.

As of the most current H.8 data for the week ending on Wednesday, July 26, 2023, deposits stood at $10.709 trillion at those 25 commercial banks, a dollar decline of $970 billion and a percentage decline of 8.3 percent.

In fact, small banks have performed better than big banks in terms of inflow.

Despite all of the misleading news reports about depositors seeking out the perceived safety of the largest banks since the banking crisis in the spring, it’s actually been the smaller banks that have staged a comeback on growing deposits since the week of April 26,” says Wall Street on Parade.

“This breakdown does not give the American people a quick pulse beat on the dangers lurking in the U.S. banking system – a system that imploded in 2008 and was on its way to imploding again this spring until the Fed stepped in with another bailout program. In the span of seven weeks this spring, running from March 10 to May 1, the second, third, and fourth largest bank failures in U.S. history occurred.

In order of size, those were: First Republic Bank (May 1), Silicon Valley Bank (March 10) and Signature Bank (March 12). The largest bank failure in U.S. history, Washington Mutual, occurred in 2008 during the financial crisis.

Because there are only four domestically-chartered commercial banks in the U.S. with more than $1 trillion in deposits – JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup’s Citibank – it behooves Americans to closely monitor what is happening at these four banks, which hold such a highly concentrated share of the banking system’s deposits and assets.

That is especially true given that one of those four banks, Citigroup, blew itself up in 2008 and received the largest Fed and Treasury bailout in U.S. banking history.”

Also Read: Money Expert Warns Government May Freeze New Bank Withdrawals

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Market News Today – Bank of America is Freezing Accounts in New Scandal.

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New Sources Say Gary Gensler is Not Resigning

Market News Daily - New Sources Say Gary Gensler is Not Resigning.
Market News Daily – New Sources Say Gary Gensler is Not Resigning.

New sources say SEC Chairman Gary Gensler is not resigning after rumors broke out this weekend of the Chair’s resignation.

CoinTelegraph says the fake news was generated by AI when it scored a 96.8% on AI Detector.

There’s recently been an increase of fake news from crypto websites alleging information against the SEC and Gary Gensler.

The most widely viewed post was from Whalechart which reached more than 1.7 million views at the time of this publication.

Concerns have also grown over a Hester Peirce takeover if Gary Gensler were to resign his position as Chairman.

“This isn’t the first time rumors of Gensler’s resignation have made the rounds. On April 20, claims that Gensler was preparing to be “fired” were circulated by questionable sources,” says CoinTelegraph.

While Gary Gensler is not resigning, a new bill has been introduced to remove him from his post.

“The website also appears to be very new, with only 17 posts in total, the first of which is dated June 22. Most of the articles appear to make heavy use of artificial intelligence, with all articles scoring about 70% with ZeroGPT.”

One way readers can test the legitimacy of new media websites is by tracking how old the website is and approximately how many articles a website has actually published.

Several fake media profiles have popped up on Twitter with many purchasing followers and then engaging with communities for additional traction.

Will Gary Gensler Resign?

Market News Daily - New Sources Say Gary Gensler is Not Resigning.
Market News Daily – New Sources Say Gary Gensler is Not Resigning.

While SEC Chairman Gary Gensler has not officially confirmed he will resign, Rep. Warren Davidson, R-Ohio, and House Majority Whip Tom Emmer, R-Minn have introduced the SEC Stabilization Act that would restructure the SEC and remove Chairman Gary Gensler from his post.

The GOP lawmakers point to what they say is Gensler’s “long series of abuses that have been permitted under the current SEC structure.”

“U.S. capital markets must be protected from a tyrannical Chairman, including the current one,” Davidson said.

“That’s why I’m introducing legislation to fix the ongoing abuse of power and ensure protection that is in the best interest of the market for years to come,” he continued.

“It’s time for real reform and to fire Gary Gensler as Chair of the SEC.”

“American investors and industry deserve clear and consistent oversight, not political gamesmanship,” Emmer said in the release.

“The SEC Stabilization Act will make common-sense changes to ensure that the SEC’s priorities are with the investors they are charged to protect and not the whims of its reckless Chair.”

“Thank you, Representative Davidson, for leading this important effort to restore sanity at the SEC,” Emmer added.

Davidson’s and Emmer’s bill would remove Gensler from his position leading the SEC and restructure the commission to redistribute power from the chair to other commissioners, add a sixth commissioner to the body, and create an executive director position to oversee day-to-day operations.

Unfortunately, Commissioners (including Hester) would still have rulemaking, investigative and enforcement authority and would be subjected to staggered six-year terms.

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Market News Today - New Sources Say Gary Gensler is Not Resigning.
Market News Today – New Sources Say Gary Gensler is Not Resigning | Gary Gensler Resignation News.

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Cathie Wood Says Bitcoin Will Hit $1 Million

Crypto News Today - Cathie Wood predicts Bitcoin to $1 million by 2030.
Crypto News Today – Cathie Wood predicts Bitcoin to $1 million by 2030.

Ark Investment’s Cathie Wood says Bitcoin ($BTC) will hit $1 million by the year 2030.

Cryptocurrency had a rocky 2022 but Cathie Wood say it was primarily due to centralized institutions.

“Last year was a terrible year for everything crypto, but if you think about what happened, it was the centralized opaque players who went bankrupt. FTX, Celsius, 3-Hours Capital, and what did we see from Bitcoin? Bitcoin is completely decentralized and transparent. It started because of 08′-09′, the lack of transparency in the traditional financial services ecosystem.

“This is a rules based digital monetary system and its global. And there’s no human intervention. It’s very disciplined, it’s mathematically metered to top out at 21 million units.”

“We’re seeing riots and protests all over the place. Where do these people go for an insurance policy against an implosion in their purchasing power and wealth. It is in something like Bitcoin. Bitcoin is an insurance policy,” said Cathie Wood.

Related: How to Invest in Bitcoin Cryptocurrency for Beginners

How Much Was Bitcoin Worth in The Beginning?

Bitcoin price started trading at approximately $0.08 per coin back in July of 2010 but was worth even less during inception.

CNBC asked Chamath, an early Facebook investor and venture capitalist, how high he thinks Bitcoin will continue to soar.

“Where is it going? It’s probably going to 100, then 150, then 200 thousand”.

Chamath was one of the first people to invest in Bitcoin a decade ago.

Do you believe Bitcoin will reach $1 million per coin?

Do you own it?

Leave your thoughts below.

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Market News Today - Cathie Wood predicts Bitcoin to $1 million by 2030.
Market News Today – Cathie Wood predicts Bitcoin to $1 million by 2030.

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FTX is Suing Voyager to Resuscitate $446 Million in Loan Payments

Market News: FTX sued Voyager Digital to regain $445.8 million.
Market News: FTX sued Voyager Digital to regain $445.8 million.

(Reuters) Bankrupt crypto exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022.

FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but Voyager’s bankruptcy preceded FTX’s filing by four months.

After Voyager filed in July, it demanded repayment of all outstanding loans to FTX and its affiliate hedge fund Alameda Research.

FTX said in a court filing that on Alameda’s behalf, it paid Voyager $248.8 million in September and $193.9 million in October.

FTX also made a $3.2 million interest payment in August, according to its court filings.

Because those loan payments were made so close to FTX’s own bankruptcy filing, they are eligible to be clawed back and potentially used to repay other FTX creditors, according to FTX’s complaint.

Also Read: Ken Griffin Speaks Out on Retail Investors and FTX Collapse

FTX Scandal

FTX Scandal
Crypto News Weekly – Franknez.com.

FTX, once among the world’s top crypto exchanges, shook the sector in November by filing for bankruptcy, leaving an estimated 9 million customers and other investors facing losses in the billions of dollars.

Its founder Sam Bankman-Fried has been indicted on fraud charges, and several top executives, including Alameda Research CEO Caroline Ellison, have pleaded guilty to fraud.

Bankman-Fried has denied wrongdoing and is scheduled for trial in October.

FTX initially appeared to weather the storm that brought down Voyager and other crypto firms in summer 2022, presenting itself as a “white knight” that could stabilize reeling crypto markets.

FTX offered to buy Voyager’s platform in a bankruptcy auction, but the proposed acquisition fell apart when FTX imploded in November.

In its Monday court filing, FTX acknowledged the allegations that Alameda raided FTX customer assets to cover its risky borrowing and lending.

But it said Voyager and other crypto lenders were complicit in Alameda’s conduct, “knowingly or recklessly” pushing their clients’ assets toward Alameda.

“Voyager’s business model was that of a feeder fund,” FTX said. “It solicited retail investors and invested their money with little or no due diligence in cryptocurrency investment funds like Alameda and Three Arrows Capital.”

Three Arrows Capital also went bankrupt in 2022, and its founders have refused to cooperate with court-appointed liquidators who are trying to recover assets for Three Arrows customers.

Also Read: DOJ is Investigating Sam Bankman-Fried Connections: FTX Opposes

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DOJ is Investigating Sam Bankman-Fried Connections: FTX Opposes

FTX opposes new bankruptcy investigations at it probes Sam Bankman-Fried connections.
FTX opposes new bankruptcy investigations at it probes Sam Bankman-Fried connections.

(Reuters) FTX has objected to a U.S. Department of Justice request for an independent investigation into the once-prominent crypto exchange’s collapse, saying it is already conducting a wide-ranging probe that includes family members of FTX founder Sam Bankman-Fried.

FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ’s proposed review would only add cost and delay to its bankruptcy case.

FTX acknowledged “fraud, dishonesty, incompetence, misconduct, mismanagement, and irregularity” in its past conduct, but said that its previous wrongdoing is already being probed by the company’s new management, its creditors and law enforcement agencies.

As part of its own investigation, FTX asked U.S. Bankruptcy Judge John Dorsey, who is overseeing its Chapter 11 proceedings, to help it secure documents from Bankman-Fried, members of his family and other insiders with information about FTX transactions that used “misappropriated and stolen” funds.

These transactions, it said, include a $16.7 million Bahamian real estate purchase under the name of Bankman-Fried’s parents, Joseph Bankman and Barbara Fried.

FTX is also seeking information about political donations connected to Bankman-Fried, asking wide-ranging questions about Mind the Gap, a political action committee founded by Barbara Fried, and Guarding Against Pandemics, an advocacy organization founded by Sam Bankman-Fried and his brother, Gabriel Bankman-Fried.

FTX said Guarding Against Pandemics’ multimillion-dollar Washington, D.C., headquarters was purchased with misappropriated funds.

A spokesperson for Mind the Gap said it did not receive direct contributions from Sam Bankman-Fried, although Bankman-Fried made donations to some political causes it recommended to its donor network.

Related: Citadel to Launch Crypto Exchange After FTX Collapse

FTX Bankruptcy Update Today

DOJ probes Sam Bankman-Fried connections | Latest FTX bankruptcy update 2023.
DOJ probes Sam Bankman-Fried connections | Latest FTX bankruptcy update 2023.

FTX, once among the world’s top crypto exchanges, shook the sector in November by filing for bankruptcy, leaving an estimated 9 million customers and other investors facing total losses in the billions of dollars.

The U.S. Department of Justice’s bankruptcy watchdog has called for an independent investigation into its collapse, a request that received backing from a bipartisan group of U.S. senators.

FTX’s new CEO, John Ray, who worked with court-appointed examiners while leading Enron Corp and Residential Capital through bankruptcy, is prepared to testify that examiners in those two cases cost a combined $150 million and provided “minimal” benefits to creditors, FTX said.

FTX’s official committee of creditors joined the company in opposing the appointment of an examiner.

FTX also on Wednesday night filed a new list of creditors in bankruptcy court, which included financial watchdogs and government agencies from the United States, Japan and Switzerland, as well as companies including Airbnb Inc and crypto giant Binance.

Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges. He is scheduled to face trial in October.

Related: Sam Bankman-Fried on AMC Tokenized Shares Before Arrest

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What is The Ethereum Merge? What Institutions and Investors Should Expect

what is the Ethereum merge?
Educational: What is the Ethereum merge?

Introduction

The adoption of Cryptocurrency is on the rise.

It is because institutional investors have been showing interest.

The leading institutions have decided to step into the Defi and the Web3 ecosystem.

This further impacts the Crypto Ecosystem positively.

Reports say that these institutions invested $9.3b in the Crypto market in 2021.

It marks a complete technological shift as the Crypto market increased to around 36%.

Now, one of the major reasons that triggered the change is attributed to a shift in technology called Merge.

Ethereum, the second largest Cryptocurrency, undertook a major shift from the Proof of Work to the Proof of Stake.

Now investors and institutions have their own expectations. Let’s seep deep into the study to have a better understanding.

What Is Ethereum Merge?

what is Ethereum merge?

Ethereum, the world’s second-largest Cryptocurrency, shifted from energy-intensive technology offering sustainability systems to play.

They are calling it “Merge.”

The community built a new engine and a hardened hull.

They shifted from the Proof work system to proof-of-stake.

Proof of work involves a wide network of computers.

Under the system, if investors are to mine crypto, they must solve puzzles to mine crypto.

The level of the puzzles increases with mining.

This complex and energy-intensive technology was used to add new blocks to the system.

The Proof of Stake mechanism is an alternative technology that consumes less energy and computing power.

According to findings, POS consumes one-tenth of the energy to mine Ethereum.

Here one needs not to devote less energy and fuel consumption to run the illustrious computer systems.

What Institutions And Investors Should Expect

With a major technological shift, Ethereum has attained a paradigm shift, at least in terms of adoption-friendly technology.

They attained an advantage against Bitcoin, their rival and the largest Cryptocurrency in terms of market value.

Are you trading in Ethereum?

You can use trading software like q-Profit. Visit the website q-profitapp.com to know more.

Now this change will bring in positive into the business ecosystem.

The institutions and the investors now have different expectations of the change. The section focuses mainly on the changes. 

1. Reduced Carbon Footprint

As discussed above, POS technology consumes a 99.5% decrease in energy consumption.

Now, the reduction of Carbon foot printing has a significant impact on institutions.

Our world is grappling with a carbon footprint, and its rapid increase in power negatively affects the environment.

You might have heard about the Paris 2015 environment summit, where it was found out the stakeholder had constructive planning, including the Net Zero programs, to stop the rise of the sea water level.

Now, with the Proof of stake, the stakeholders can mine Cryptocurrency with lesser power consumption, which syncs with the Net Zero targets of individual nations.

Hence the step provokes to be helpful for institutions, government, and the environment.

With this major technological high long jump, the companies are able to obtain their own sustainability goals and objectives.

2. Improved Security

Economic and trading democratization has always been the need of the hour.

The business entities investing heavily in Cryptocurrency needs are all driven by energy security and sustainable development.

They are always looking for alternative energy to increase their business opportunities.

But the traditional system economy, centralized in nature, stopped them from this.

With Cryptocurrency, they were able to get the technological shift.

With Proof of stake, the use of Blockchain became more common.

We all know that the Blockchain is an advanced data maintenance system storing data in a decentralized network.

Once the information is entered, it is entered forever. It can’t be manipulated.

Another reason for the improved technology is that the cost of attacking networks has dramatically increased.

Presently more than 45000 Ethereum have been staked so far.

Even 51% of the attacks would cost over $11B.

With improved security, more new investors are expected to join the system and gain growth in this ecosystem.

Closing The Discussion

The Ethereum merger has more for the investors and the institutions.

Now with the merger, cross-team economic collaborations have increased. It is good for increasing business opportunities.

This produces an ecosystem for business growth and stability.

The induction of POS has enabled client diversity and interoperability. They are important steps toward the growth of Cryptocurrency.

These are the advantages the institutions and investors are going to get with the help of the Merge.


How Much Bitcoin Should You Buy: Factors to Consider in 2023

how much bitcoin should you buy
Educational: How much Bitcoin should you buy?

Introduction

Bitcoin has been the bread and butter of the Cryptocurrency world for quite some time.

Even if people cannot get into other Cryptocurrencies like Ether or Dogecoin, Bitcoin will still remain the king.

Many call it an achievement once they start trading through Bitcoin.

Therefore, it is understandable that there are novice investors who are still asking this question, “How much Bitcoin should I Buy.”

Afterall among all the Cryptocurrencies out there, Bitcoin is the most volatile one.

Probably because of its hot & cold reputation.

At one point, it is high in demand, and the next day everyone is against Bitcoin, and the prices seem to fall drastically.

We are here to rescue you from evergreen curiosity.

Once you read this article, you should understand the amount you should be investing and the other factors to keep in mind when investing.

How Much Should You Invest?

how much bitcoin should I buy

Let’s pull over some percentage here, shall we?

When it comes to your first-time investment, then you should always have a total investment amount set with you.

Without this, you can start treating this as a gamble when you get a taste of big profits.

Once you have this investment amount set aside, it is time to place only 10% of that amount in your first investment.

Some might even prefer a total of $100 investment in your first year and begin with a mere $10.

Do not invest it all at once and have a scheduled time for investing.

For example, the first investment, and then after every three months.

This will essentially prevent you from giving in to tempting offers with nothing to base them upon.

Related: How to Invest in Bitcoin Cryptocurrency for Beginners

Other Factors to Keep in Mind

Here are the other factors which you should keep in mind while investing in Bitcoin for the first time.

1. Do Not Give Into FOMO

FOMO is the Fear Of Missing Out.

This is when a novice investor gets too excited about any new investment.

Especially if they see their fellow pals earning major profits; however, you should remember that not every piece of knowledge is the same.

When you find someone earning thousands from one move, there is a lot you need to factor in.

How many years have they been investing, was any calculation involved in this move, or was it plain luck?

No matter what you do, do not blindly believe in someone.

Sometimes when you get a higher profit from one investment, it is easier to get blinded by temptation.

This is why a set amount of investment rules is perfect to start with.

2. Strategize Loss Tolerance

If you are not strategizing your loss, you can never learn from them.

The very first rule of Cryptocurrency is always invest the amount you can lose.

This is known as “loss tolerance,” i.e., how much loss you can tolerate.

If the loss is too much, neither will you be able to learn from it nor have the confidence to invest again for a very long time.

So, before investing, understand the amount you will be okay with losing, and then start investing through profit-maximizerapp.com.

This is a smart move upon anticipating that you will be losing your very first investment, and you are doing so to educate yourself.

What About Minimum Investment?

Upon reading the last point, many might think of investing very little in their first investment in Bitcoin.

Some might even think about investing as little as $2.

But we, along with experts, would suggest otherwise.

No matter the platform you choose for investing, there are fees attached to trading and Crypto investment.

Upon trading with a meager amount, you will end up paying more fees than your investment.

Another crucial suggestion would be not to put all your eggs in one basket.

Cryptocurrency losses are inevitable, so divide your capital and invest in different digital coins.

In this way, you will have another to fall into in the event of a big loss for one.


AVAX vs SOL: What Crypto to Choose?

Crypto News Weekly: AVAX vs SOL | Avalanche vs Solana.
Crypto News Weekly: AVAX vs SOL | Avalanche vs Solana.

The central part of the crypto community’s attention has been focused on Ethereum and Bitcoin lately.

Ethereum has been the center of the smart contract industry since its migration to PoS, while investors follow Bitcoin closely to predict the next move the market will make. 

That being said, some of the more recent blockchain protocols, like Solana and Avalanche, also have a lot to offer, even in this bear market.

In this article, we analyze these projects and compare AVAX vs Solana to see whether one has the edge over the other. 

To achieve this, we will provide some fundamental analysis of each of these tokens and gather some price predictions from experts around the internet.

This should give you a good idea of which is better: Avalanche or Solana. 

What Do We Know About Avalanche?

Avalanche Crypto
Crypto News Weekly: Avalanche vs Solana.

Avalanche is an open-source smart contract protocol released in 2020, just before the major part of the bull market of that period.

This allowed it to experience some very strong upside price action right after launch. 

More importantly, we should note that Avalanche gained a lot of popularity in the smart contract industry by providing a much more scalable network than Ethereum.

This allowed users to launch DeFi dApps that were cheap to use and extremely fast. 

To reach this high scalability, Avalanche uses PoS and a triumvirate of chains: 

  • The exchange chain, which serves to transfer assets. 
  • The contract chain, which runs the smart contracts. 
  • The platform chain, which coordinates the validators and staking mechanisms.  

By handling a portion of the computational strain, these chains allow Avalanche to achieve 50k+ transactions per second and conserve very low gas fees. 

AVAX Price Prediction

The AVAX token was one of the high-performers of the bull market in 2021, reaching as high as $146 per token.

That said, the bearish conditions have pushed the price much lower now, around $16. 

Even so, analytic websites are still very much hoping that the token will grow in value in the upcoming years.

Digitalcoinprice.com provides a target of $28.99 for 2023 and goes as high as $91.97 for 2030. 

Priceprediction.net is a lot more bullish, with a forecast of $28.44 for 2023, and a target of a staggering $405.84 for 2030.

Consequently, this might be a great opportunity for purchasing this token on exchanges like Godex

Key Facts About Solana

Solana
Crypto News Weekly: Solana (SOL) news.

Solana is one of the most highly praised blockchains of the past couple of years.

This ultra-scalable chain uses Proof of History in tandem with PoS to achieve 100k transactions per second, which makes it one of the fastest smart contract networks on the market. 

This has allowed the chain to gather thousands of developers deploying various dApps on the chain, in all categories.

Consequently, it has become one of the main rivals to Ethereum and managed to enter the top 10 cryptos by market cap. 

SOL Price Forecast

Like AVAX, the SOL token performed admirably in the bull market.

From a median price of $0.5 in 2020, SOL reached as high as $260 at the peak of the bull market.

It has currently retraced around $28 per token. 

Priceprediction.net hopes to see SOL reach $52.58 by 2023.

For 2030, their forecast targets the $605.14 mark. 

Digitalcoinprice.com is less enthusiastic, with targets of $51.43 for 2023 and only $165.52 for 2030. 

Main Differences Between AVAX and SOL

Here’s AVAX vs SOL at a glance:

AVAXSOL
Network ValidatorsBlock TimeConsensus MechanismTransaction FeesEVM Compatible 1,229~2 secondsPoS$0.01Yes2,093400 millisecondsPoS + PoH$0.00025No

Is AVAX Better Than Solana?

Avalanche and Solana have similar use cases, although their architectures are vastly different.

Solana remains faster and cheaper than Avalanche, while the latter has the advantage of being EVM-compatible. 

In all fairness, both blockchains have their benefits and drawbacks, and from an investor’s point of view, they are equally interesting to have in your portfolio. 

Related: How to Invest in Cryptocurrency for Beginners

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More People Are Adding SHIB to Their Watchlist Than Dogecoin

SHIB News Today.
SHIB News Today.

1.8 million people have now added SHIB to their watchlist on CoinMarketCap beating Dogecoing (DOGE) by more than 200,000.

SHIB is currently trending on Twitter as SHIB news was released that developers had launched an updated version of their ecosystem website today.

The Shiba Inu community has now grown to an astonishing 3.6 million on Twitter.

The community had achieved its first million milestone in October of 2021 when SHIB reached its second all-time high.

Some of the biggest SHIB news leading to the new year included the cryptocurrency getting listed on Kraken and eventually trading on Robinhood.

Today, the SHIB community is waiting for the next major gainer during the next bull run.

Here’s what’s happening with SHIB.

SHIB Army Expansion

Shib Army

The SHIB army continues to expand, sharing its uniqueness with other likeminded communities.

PlaySide Studios has partnered with Shiba Inu Games in such an early phase of the cryptocurrency and gaming development.

PlaySide said it continues to collaborate with strategic partners to develop games using the latest trends that are shaping the future of the gaming industry.

“With booming global trends such as the metaverse and the growing popularity of new technologies including cryptocurrencies, nonfungible tokens (NFTs), and blockchain gaming; new opportunities in games continue to emerge.”

Gaming seems to be a big niche where blockchain technology is headed to grow the industry.

Companies such as GameStop have now begun to dive into this process through their NFT Marketplace.

SHIB Price Changes in the Last 24hrs

SHIB Price Chart today.
SHIB price chart today.

Shiba Inu coin is currently up 3.20%.

Its market cap is up 3.25%, with trading volume at 109 million.

The ‘meme token’ currently ranks at #15 on CoinMarketCap and #12 on Coinbase.

Are you holding SHIB?

If so, how many millions?

What are you most excited for the community in 2023?

Leave a comment down below.

You can follow me on Twitter for daily market news and updates.


Report: Only 1% of Retail Investors Plan to Sell in 2023

Market News: Finimize reports only 1% of retail investors plan to sell in 2023.
Market News: Finimize reports only 1% of retail investors plan to sell in 2023.

Only 1% of retail traders plan to sell off their investments in 2023, according to a survey from Finimize, while 65% will continue investing and 29% plan to add to their portfolios.

The survey of over 2,000 retail investors across Europe, Asia and the U.S., found that over 80% think the worst of the stock market rout will be over within six months, says CNBC.

The majority (72%) of the traders plan to back individual stocks next year, with 64% favoring Big Tech names like Apple, Microsoft, Google and Meta.

Even the AMC and GameStop communities continue to stay bullish on these companies.

In 2023, most individual investors plan to invest the same amount or more despite the cost-of-living crisis, according to a new survey from London-based investing insights platform Finimize.

“This data is proof that even in the current market environment, the majority are seeing volatility simply as part of the economic cycle thanks to access to information and growing experience with investing,” said Max Rofagha, Finimize’s CEO, in a press statement Wednesday.

Here’s the latest market news.

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Retail Investors Aren’t Planning on Selling

A very big portion of retail investors aren’t phased by this year’s bear market and plan to grow their holding leading into 2023.

The survey done by Finimize shows 38% of retail investors also plan to invest in crypto, even amid the fallout from the collapse of Sam Bankman-Fried’s crypto exchange FTX.

About 56% of traders believe that bitcoin will be higher, vs. 44% who think it will trade lower.

The retail investment community is set to account for 61% of all assets under management globally by 2030, up from 52% in 2021, according to wealth management strategy consulting firm Indefi.

But Finimize believes retail investors won’t have the influence they did during the ‘meme stock’ frenzy in 2021.

Meme stocks 2023
Finimize on ‘Meme Stocks’ in 2023.

But being part of this incredible community made up of millions of investors buying AMC and GameStop, I’m not sure I agree with Finimize.

These retail investors are looking to replicate the events that occurred in 2021 when AMC and GameStop both reached all-time highs.

Will You Be Buying, Holding, or Selling in 2023?

Investing in 2023
Only 1% of Retail Investors plan to sell in 2023 according to a report by Finimize.

Will you buy buying stocks, holding, or selling in 2023?

I’m curious to know your sentiment on the markets for next year.

Leave your thoughts in the comment section down below.

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Source(s): CNBC


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