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Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy

The declining crypto market has raised lots of concerns among investors. Through several analyses, this prevailing price fall seems to be the worst in history. The crisis keeps raging with numerous losses recorded and more panic sell-off from traders. As a result, many people present ideas that could yield solutions to the situation. One of the trending reports is the statement of billionaire entrepreneur Mark Cuban concerning the bear market. Cuban, popularly known as the top investor in Shark Tank, a reality TV show, believes in the role of applications. He mentioned that proper focus on applications with utility is the solution. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic The billionaire is convinced that applications with utility would create a turnaround in the prevailing market stance. Currently, most of the applications are geared toward collectibles and financial technology. But in Cuban’s opinion, the market needs a different spark that business-focused apps could bring. Cuban cited an instance with the decentralized brand of QuickBooks. According to him, such an accounting management software that is business based created a difference. Hence, he argued that a similar projection in the crypto market would lift the bearish trend. The Bankless Podcast episode on June 23 featured Cuban. While answering the question on the lasting period for the crypto bear market, the billionaire stated it would continue till the emergence of a catalyst. According to Cuban, that catalyst has to be an application; otherwise, prices would get even lower. In his past statement, Cuban had kept up to 80% of his non-Shark Tank funds in cryptocurrency. Cuban Said Crypto Market Is Still Not Cheap In Cuban’s opinion, the crypto market is yet to reach its low price. This contradicts most of the predictions for BTC and other crypto tokens. Many analysts have already concluded that digital assets have reached the bottom line. Cuban x-rays the high market cap for most crypto protocols while stating they are still not cheap. To him, having market caps worth billions of dollars is not cheap. He mentioned that during DeFi Summer, most protocols recorded market caps within the cycles of hundreds of millions of dollars. Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community Also, their token prices were just around a few pennies. But he still complained about the lack of utility even with low market caps. In further explanation, Cuban anticipates a robust crypto industry through mergers of blockchains and protocols. To him, it’s a great consolidating move that could occur in any industry. When it comes to making a choice based on his optimism in different tokens, Cuban went for carbon offset DeFi tokens. According to him, it’s a measure to offset his carbon footprint when he burns them. Featured image from BBC, chart from TradingView.com

Financial Companies Report First Deal With Digital Assets Under Russian Law

Companies Report First Deal With Digital Financial Assets Under Russian LawTwo companies have carried out Russia’s first transactions with digital financial assets as defined by the country’s current legislation. The deal involved the tokenization of debt issued by a third party and its subsequent acquisition.
Russian Companies Conduct Issue and Placement of Digital Financial Assets
VTB Factoring, a subsidiary of Russian majority state-owned Vneshtorgbank […]

Cryptocurrencies With Incredibly High Market Caps

Cryptocurrencies are an online alternative to FIAT currencies, and because of the way they are designed, they offer added protection to those using them just like a licensed and SSL encrypted live casino ensures protection for its players. Transactions with them are anonymous and the currencies cannot be duplicated or falsified. Having said that, new users of cryptocurrency may feel overwhelmed by the sheer amount of variety the currency offers and the differences between them. Read this article to find out more about the more common cryptocurrencies. Bitcoin — BTC Around 2008, Bitcoin (BTC) was the first cryptocurrency and is currently the highest-ranking of cryptocurrencies. An anonymous collective known as Satoshi Nakamoto is credited with creating this coin. It is exchanged from person to person, controlled by no one bank. BTC can be used for a variety of purchases and the coin’s market cap has surpassed the US$100 billion range. Ethereum — ETH A close second to Bitcoin, Ethereum (ETH) is another decentralized software platform. The coin was released to the public in 2015 after a fundraising effort. One of the main advantages of ETH is the speed of the transaction time, which is mere seconds when compared to other cryptocurrencies. ETH can be used for any transaction where cryptocurrencies are accepted. The market cap for ETH is also over 100 billion US$. Tether — USDT Unlike Bitcoin and Ethereum, Tether is what is known as a stablecoin. Tether can be used on blockchains, but the value of USDTs is attached to the FIAT value. For example, $1 = 1 USDT. The Tether platform was created in 2014 in order to facilitate the use of digital currencies and digital transactions. Nowadays, this coin ranks third after Ethereum and Bitcoin and has a market cap is on two-digit billion. USD Coin A new way of using FIAT money, the USD Coin is a tokenized form of United States dollars. The USD Coin is an alternative to other online tokens, facilitating the use of American dollars in the digital marketplace. They can also be converted into physical USD at any point in time. As such, the price of 1 USD Coin is equivalent to $1. Binance — BNB The Binance Coin, or BNB, is the fifth-ranking cryptocurrency in terms of both popularity and profitability. Created in 2017, this coin has risen through the ranks to become the 5th most popular cryptocurrency. It is primarily used for the payment of transactions or trading fees on Binance, an online platform dedicated to cryptocurrency exchange, along with tokens mentioned above. As it stands, the market cap for this coin is too on over two-digit billion. Conclusion The world of cryptocurrency may seem complicated and intimidating at first, but once you learn the basics, you can see all the possibilities this digital market can offer. As with most endeavors where financial investment and risk are involved, you should take the time to research the different coins and find the cryptocurrency which works for your needs. Take the time to find reputable sources of information and enjoy diving into the world of cryptocurrency!     Image by Sergei Tokmakov Terms.Law from Pixabay

TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100

Ethereum is struggling below $1,100 against the US Dollar. ETH could continue lower below the $1,000 support unless there is a clear move above the $1,100 zone. Ethereum remained in a bearish zone below $1,120 and $1,100 levels. The price is now trading below $1,120 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,100 resistance zone. Ethereum Price Faces Resistance Ethereum remained in a bearish zone and extended losses below the $1,100 support zone. ETH even broke the $1,050 level to move further into a bearish zone. Finally, ether price spiked below the $1,000 level and traded as low as $997. Recently, there was a sharp upward move above the $1,050 level. The price surged above the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $997 low. Besides, there was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH/USD. However, the bears were active near the $1,100 resistance zone. Ether is now trading below $1,120 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,100 level. The next major resistance is near the $1,120 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $997 low is also near $1,120. A close above the $1,120 resistance zone could start a steady increase. Source: ETHUSD on TradingView.com In the stated case, the price could rise towards the $1,200 resistance. Any more gains might send the price towards the $1,235 high. More Losses in ETH? If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,045 zone. The next major support is near the $1,000 zone. A close below the $1,000 level might push ether price further lower. In the stated case, ether price may perhaps decline towards the $925 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $1,045 Major Resistance Level – $1,120

Midas․Investments Wants to Bridge the Gap With CeDeFi Strategies

PRESS RELEASE. Crypto investment platform Midas Investments has reported that it has created an infrastructure that is designed with built-in, automated tools and strategies that don’t require investors to master the nature of trade within the volatile decentralized finance market. Traditional CeFi refers to centralized finance mechanisms such as crypto lending and borrowing, which have […]