Tag: Crypto (Page 1 of 18)

Ripple’s Stablecoin and the Future of Digital Payments

April 13, 2024 / Curating Team

Ripple, known for its focus on payment system solutions and the XRP cryptocurrency, is preparing to launch its stablecoin, initially pegged to the US dollar. This move could herald a new era in the realm of digital currencies and significantly impact the market. The company assures that its stablecoin will always maintain equivalent asset backing, with periodic independent audits to ensure security

Stablecoins, a subset of cryptocurrencies, derive their value from stable assets such as fiat currencies (mostly the US dollar) or commodities like gold, aimed to reduce price volatility. While Ripple’s stablecoin is primed for a US debut, plans for regional variations in Europe and Asia aren’t off the table. In the US market, it will have to compete with well-known industry giants such as Tether (USDT), Circle (USDC), and PayPal USD stablecoin issued by Paxos Trust Company.

Ripple’s idea to create a stablecoin is driven by its commitment to offer heightened stability, potentially appealing to financial institutions and businesses.

The launch of Ripple’s stablecoin could have a twofold impact on existing XRP cryptocurrency. On the one hand, this may drive greater interest in the Ripple ecosystem, bolstering XRP’s utility as a bridge currency in cross-border transactions. On the other hand, there’s a risk of the stablecoin encroaching on XRP’s market share. Regardless, market observers will closely monitor XRP price dynamics. Some analysts have concerns over Tether’s asset backing, suggesting vulnerability to a potential “bank run” if token holders rush to redeem massively.

There are rumors regarding Tether’s strained relations with regulatory authorities, while Ripple fully complies in jurisdictions like New York, Ireland, Singapore, and other countries. Despite this new trajectory, Ripple remains committed to its XRP token. The history of stablecoins knows both success stories and failures; stability and platform trust are paramount to safeguarding token holders’ investments and regulatory adherence.

Ripple’s track record in developing payment systems and fostering partnerships with banks and financial institutions could augur well for the widespread adoption of stablecoin. The company envisions the stablecoin not only as a stability tool but also as a conduit for expanding its foothold in the digital payments arena. Anticipated benefits include bolstering strategic positioning and forging new financial market alliances.

This strategy not only facilitates diversification but also aids in automated trading, a realm where maintaining numerous multidirectional positions on a given cryptocurrency is pivotal. Engaging in free market replay and simulated trading using historical data serves as an excellent avenue for honing trading skills without exposing capital to risk.

The Ripple stablecoin’s debut could be a seminal event in digital finance, potentially enhancing XRP’s value and broadening Ripple’s operational horizons. Despite inherent stability and regulatory challenges, Ripple possesses the requisite expertise and resources to navigate these waters successfully. It’s imperative to acknowledge that a stablecoin’s success hinges on myriad factors, encompassing community reception, technological robustness, and market confidence in its stability.

Ethereum And Cardano Now Lead Massive Institutional Inflow

February 13, 2024 / Frank Nez

Ethereum and Cardano now lead massive institutional inflow as $1,100,000,000 ($1.1bn) hits crypto ETPs, sources report.

Digital assets manager CoinShares says institutions poured a whopping $1.1 billion into crypto investment products one month after the U.S. Securities and Exchange Commission (SEC) approved the spot BTC exchange-traded funds (ETFs).

In its latest Digital Asset Fund Flows report, CoinShares finds that crypto investment products saw over a billion dollars in inflows last week and show no signs of slowing down.

“Digital asset investment products saw large inflows totaling $1.1 billion, bringing year-to-date inflows to $2.7 billion,” the report detailed.

“Coupled with recent price rises, total assets under management (AuM) is at the highest level since early 2022 at $59 billion.”

According to CoinShares, most of the inflows were focused on BTC ETFs, which have reached almost $3 billion in the last month.

The firm says Bitcoin’s price appreciation “buoyed sentiment” for Ethereum (ETH) and Cardano (ADA), which both saw more inflows than the rest of the altcoin market.

“Regionally, the focus remained on the newly issued spot-based Bitcoin ETFs in the US, which saw a net $1.1 billion inflows last week, bringing inflows since the January 11th launch to $2.8 billion.

The outflows from incumbents have slowed significantly, but the potential sale of the Genesis holdings of $1.6 billion could prompt further outflows in the coming months…

Bitcoin saw almost 98% of the inflows, while the price appreciation also buoyed sentiment for Ethereum and Cardano.”

BTC, per usual, saw the lion’s share of inflows, taking in 98% of last week’s inflows at $1.09 billion.

Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Polygon (MATIC), and Tron (TRX) each saw inflows of $16 million, $6 million, $0.5 million, $0.4 million, and $0.4 million, respectively.

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Also Read: How To Invest In Bitcoin Cryptocurrency For Beginners

Other Crypto Market News Today

Bitcoin will now surge to $200,000 in 2025 says pseudonymous analyst Dave the Wave, per his crypto market data.

“BTC just shy of $200,000 in 2025 based on this prediction,” he stated to his 144,400 followers on social media.

He bases the estimate on Bitcoin’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator, as well as Fibonacci extension levels, which keep track of potential areas of support and resistance, reports The Daily Hodl.

Looking at his chart, the trader suggests the LMACD indicator is showing BTC has reached a market bottom and is in an uptrend that will reach nearly $200,000 by October 2025.

The trader also uses his version of logarithmic growth curves (LGCs), which aim to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility.

“BTC solid and sideward within the range so far.”

Will Bitcoin Reach $200,000? Dave the Wave crypto market analysis.

According to the trader’s chart, the LGC’s support levels could be tested at the longer-term end of the channel near $30,000 or potentially at $38,000 if its shorter ascending channel stays intact.

The trader believes that the logarithmic chart accurately provides a longer-term view of Bitcoin’s price action.

“It really is astounding the effect time has on our perceptions – just three years ago the current BTC price in the $40,000 range was blowing everyone’s mind, where today it is thought all a bit passé.

This has something I think to do with ‘time preference’, where those with a high-time preference are very much focused on the present (present-minded), while those with the low on the future (a more ‘elastic’ frame of mind).”

Bitcoin $200,000 price prediction - Dave the Wave. — Bitcoin $200,000 price prediction – Dave the Wave.

Bitcoin (BTC) is currently trading at $45,163 at the time of this publication.

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Also Read: Crypto Investors Now See Bitcoin (BTC) Surging to Whopping $100K

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Best Crypto Chart Patterns – Selecting the Fab Five

February 18, 2023 / Curating Team

Being a part of technical analysis, chart patterns rely on the idea that everything is a repeated cycle.

Therefore, different patterns that occurred in the past are now used as an indicator of possible future events.

For traders, such tools unveil a market’s trends through its price action.

Though there are numerable chart patterns, not all of them have the required accuracy.

What are the most widely used patterns, and what do they mean?

We present a list of the best patterns that will come in handy when evaluating the state of the market.

Head and Shoulders Pattern

Being one of the easiest patterns to spot on a chart, Head and Shoulders will grab your attention with its three rising points – two shoulders and a head.

Two equal points will be divided by the highest one.

Also, the same pattern may occur in an inverted state in the chart.

As a result, it will mean either the end of an uptrend or the end of a downtrend.

This pattern shows high reliability and is widely used in predicting trends, so save it to your list of favorites as well.

Pin Bar Candlestick Pattern

The patterns that are in the spotlight in this list have one thing in common: they consist of candlesticks.

Those small pin-like marks hold loads of information about the price and the period when it was rejected.

But how do we use this pattern for making a prediction?

Look at the pin bar nature:

A bearish pin is a sign of a downtrend – and it is marked by a long upper shadow.
A bullish pin is a sign of an uptrend, and it has a more prominent lower shadow.

The shadow, or the wick, and the body are the component parts of a candlestick.

As a detailed guide by Margex points out, this scheme proved to be useful through the centuries, and today investors haven’t given up on it.

Ascending and Descending Triangle Pattern

This pattern represents a trend line connecting a consequence of lower highs and a second line connecting a consequence of lows.

If there’s a triangle in a chart, the investor should be prepared for the continuation of a trend.

An ascending triangle with two or more equal highs and a series of higher lows promises a bullish trend.
A descending triangle with two or more equal lows and a series of lower highs promises a bearish trend.

Wait until the pattern is complete: the price should break above the resistance line or support line in case of a descending type.

Rising Wedge and Falling Wedge Pattern

This pattern suggests the end of a downtrend.

Yet, if it appears in reverse – a falling wedge will suggest the end of an uptrend.

Just like with triangles, the wedges have two converging lines that connect higher lows and higher highs.

Yet this time, they are looking in the same direction.

On the charts, it looks like a triangle with slightly tilted lines – although this pattern is one of the most difficult ones to spot and trade.

Bullish and Bearish Flag Patterns

Depending on the direction of the trend, the investor can encounter a bullish or bearish flag pattern.

The first one appears when it’s an uptrend, and the second one appears in a downtrend, yet both marks continuation.

To spot it on the chart, look for a “flagpole” – it usually forms on a price spike, and then diagonal parallel lines for shorter periods follow.

Crypto Chart Patterns: Conclusion

There are multiple ways to become a successful trader, and the science behind the chart patterns is worth your attention.

Although this method doesn’t provide 100% accuracy, it shows tendencies and price movements.

With such data, it’s easier to predict future events than to rely on intuition or someone else’s predictions.

Anyone who’s eager to learn as many trading tools as possible will soon find out they made their best investment – an intellectual one.

Make profitable decisions relying on technical information and experience!

Related: Options Trading Course

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

January 26, 2023 / Frank Nez

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?

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.

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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.

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