How To Instantly Convert Ethereum(ETH) To Elongate(ELONGATE)? [Safely]

It looks like you have got to know about the secret of changing Ethereum into ELONGATE for disappearing in cyberspace with your money.

For those of you who don’t know what I am talking about, here is the thing.

I understand, your reason for exchanging or converting ETH to ELONGATE might be something else. But whatever it is, you need to do this exchange with extreme caution because crypto transactions are irreversible, and with Elongate’s functionality, you can do so much more with it.

So to help you out precisely with that we have come up with this step by step guide on converting your ETH into ELONGATE in the least possible time with safety.

We have chosen, Cryptmixer cryptocurrency swap service for this tutorial because it is one of the most user-friendly services to exchange one currency to another.

Let’s jump right into the step by step process:

How & Where To Exchange Ethereum(ETH) To Elongate(ELONGATE)?

Step #1. Go to Cryptmixer.com [No KYC & No Sign-up]

You should see this screen where you can select ELONGATE and ETH pairs as shown in the below image. Do mention the correct amount of ETH you want to exchange for ELONGATE. Doing this will automatically show you the amount of ELONGATE you will be receiving after the conversion is complete.

Step #2. Here click on the ‘Exchange’ option shown in the above image to see the below-shown screen. You can even change the amount of ETH you wish to exchange here too. The exchange fee is set to 0.05% of the transaction.

Here they will ask you for your ELONGATE address. If you don’t have ELONGATE, we suggest you choose a wallet from some of these best Elongate wallets and get a Elongate address for yourself. This is the ELONGATE address on which you will get your Elongate coins in exchange for Ethereum.

Step #3. After adding the Elongate address, click on the ‘Next’ button shown in the above image. Once you do that you will be shown details of your conversion such as ELONGATE address, fees, time for conversion, etc. Verify the details intently on this page before moving forward for the actual exchange.

Step #4. Once you have checked all the details, click on ‘Start’ shown in the above screen.

You should now see a screen asking you to send the ETH first on a given address. Don’t worry; this is how it is supposed to work when you use Cryptmixer. You need to provide the relevant currency first after which you receive the other currency. Take out your Ethereum wallet and put the shown address to send your Ethereum on it.

Note: You have 24 hours to send funds otherwise the transaction will be canceled automatically, but I suggest you send it ASAP before the exchange rate of ETH/ELONGATE pair changes.

Step #5. As soon as you send your Ethereum to the shown address, you will start seeing this screen ‘transaction is being confirmed.’ It means your transaction is processing and will be confirmed by the Ethereum blockchain soon. Usually, it takes 3 confirmations for depositing Ethereum which can take up to an hour in case of congestion on the blockchain.

The swapping process itself happens almost instantaneously, but the blockchain network takes the rest of the time. Typically, the exchange comprises of these three stages:

  • Getting confirmations
  • Exchanging ETH to ELONGATE
  • Sending Elongate to your wallet

Step #6. Wait with patience, and as soon as your conversion from ETH to ELONGATE is completed, you will see this screen showing you all the details of the transaction.

You can check your transaction details on the respective blockchain also.

Congratulations, Tada….!!! You have done it

Is It like Sending Ethereum To Elongate?

Some people mistake this for sending Ethereum to Elongate network and think that its Elongate’s blockchain that is doing the conversion for them.

But that’s far from reality.

In this conversion powered by Cryptmixer, it acts like a mediator who facilitates the conversion of ETH to ELONGATE. Moreover, Cryptmixer is worth relying on such exchanges because it has made a name for itself doing the same for last 5 years in this industry

So what are you thinking?

  • Check Out Cryptmixer for free now

Note: We have used the example of ETH and ELONGATE in this tutorial, but the process of converting any other currency to another one is the same, so feel free to try out Cryptmixer for that too !!

If you liked this guide, please share it with your friends & family member who wishes to exchange Ethereum to Elongate or vice versa !!

How To Instantly Convert Ethereum(ETH) To Elongate(ELONGATE)? [Safely] was originally published in The Bullish on Medium, where people are continuing the conversation by highlighting and responding to this story.

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Nigeria Money Printing Controvesy: CBN Governor’s Remarks Attacked, Government Denies It Financed Deficit via Money Printing

The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In the latest twist, the opposition People’s Democratic Party (PDP) vice-chairman Dan Orbih said the CBN governor Godwin Emefiele’s response to the allegations is “politically motivated.”

Money Printing Unsustainable

In his riposte, Orbih is quoted by a local news site suggesting that “if drastic measures were not taken to address the situation” then the country might be headed for a worse outcome “than what happened in Uganda.” The politician said:

We need the youths to come up with ideas and programmes that will help this government to come out of their mess because the revelations by Godwin Obaseki is a sad reminder of what happened in Uganda under former President Idi Amin.

The PDP official also concludes that “no government can sustain the economy of a country with that type of abuse.”

In his initial remarks, Godwin Obaseki, Edo State Governor alleged that the “federal government (had) printed an additional $120-$150 million (50-60 billion naira) to top-up for us to share.” However, the claim has been dismissed by the Nigerian finance minister, Zainab Ahmed. According to the minister, this reported allocation is in fact “revenue from different agencies of the government.”

CBN’s Right to Print Money

In his own response to the allegations on April 15, governor Emefiele called the claims “unfortunate and totally inappropriate.” Although Emefiele did not directly deny or confirm the claims, he argued however that “the bank must always act to support the government at times of financial difficulties.”

Meanwhile, the CBN governor is quoted in a different publication asserting that the central bank’s right to print money. The governor said:

That’s our job – to print. It’s about lending money and so there’s no need putting the controversy about printing of money as if we are going into the factory printing the naira and start distributing on the streets.

Emefiele also revealed that the country had faced a similar situation in 2016 although he acknowledges that the situation “far worse today.” Still, the report quotes the CBN governor stating that the central bank is “also concerned with issues of inflation.”

Do you agree that the CBN should print more in times of economic difficulties? You can share your thoughts in the comments section below.

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Coinbase to Become the First Company to Pay WeWork in Cryptocurrency

  • WeWork has announced it will begin accepting crypto payments 
  • The move is in partnership with BitPay and Coinbase
  • BitPAy will handle the payments with WeWork accepting Bitcoin, Etheruem, USD Coin (USDC) and Paxos (PAX)
  • WeWork will hold the crypto paid for services on its balance sheet
  • Coinbase will become the first company to pay WeWork in crypto

The flexible working space company of WeWork has just announced that it will begin accepting payments using select cryptocurrencies. The move by the company is in partnership with BitPay and Coinbase as WeWork embraces the flexibility of using cryptocurrencies for inbound and outbound transactions.

BitPay to Serve as a Payment Processor with WeWork Holding Crypto

Furthermore, BitPay will serve as the crypto payment service provider for WeWork. The latter company will accept Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX) and several other digital assets as payment options.WeWork also intends to hold digital assets paid for its services, on its balance sheet.

The CEO of BitPay, Stephen Pair, further highlighted the significance of WeWork accepting digital payments to further crypto adoption. Mr. Pair had this to say about the milestone.

BitPay believes crypto is the future of fintech and payments and our goal is to transform how businesses and people send, receive, and store money. WeWork is giving their customers an innovative payment option that is cheaper and easier than credit cards and taps a community valued at over $2 trillion.

Coinbase to Become the First Company to Pay WeWork in Crypto

Additionally, WeWork will pay landlords and third-party partners in digital assets with Coinbase handling the transactions where possible. Coinbase will also become the first WeWork member to use cryptocurrencies to pay for its membership.

Coinbase recently made headlines by becoming the first digital asset exchange to go public. The company is a global leader in the fintech industry and the decision to pay WeWork in crypto will set the pace for other customers of WeWork to do so.

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How To Instantly Convert Bitcoin (BTC) To Elongate(ELONGATE)? [Safely]

It looks like you have got to know about the secret of changing Bitcoin into ELONGATE for disappearing in cyberspace with your money.

For those of you who don’t know what I am talking about, here is the thing.

I understand, your reason for exchanging or converting BTC to ELONGATE might be something else. But whatever it is, you need to do this exchange with extreme caution because crypto transactions are irreversible, and with Elongate’s functionality, you can do so much more with it.

So to help you out precisely with that we have come up with this step by step guide on converting your BTC into ELONGATE in the least possible time with safety.

We have chosen, Cryptmixer cryptocurrency swap service for this tutorial because it is one of the most user-friendly services to exchange one currency to another.

Let’s jump right into the step by step process:

How & Where To Exchange Bitcoin (BTC) To Elongate(ELONGATE)?

Step #1. Go to Cryptmixer.com [No KYC & No Sign-up]

You should see this screen where you can select ELONGATE and BTC pairs as shown in the below image. Do mention the correct amount of BTC you want to exchange for ELONGATE. Doing this will automatically show you the amount of ELONGATE you will be receiving after the conversion is complete.

Step #2. Here click on the ‘Exchange’ option shown in the above image to see the below-shown screen. You can even change the amount of BTC you wish to exchange here too. The exchange fee is set to 0.05% of the transaction.

Here they will ask you for your ELONGATE address. If you don’t have ELONGATE, we suggest you choose a wallet from some of these best Elongate wallets and get a Elongate address for yourself. This is the ELONGATE address on which you will get your Elongate coins in exchange for Bitcoin.

Step #3. After adding the Elongate address, click on the ‘Next’ button shown in the above image. Once you do that you will be shown details of your conversion such as ELONGATE address, fees, time for conversion, etc. Verify the details intently on this page before moving forward for the actual exchange.

Step #4. Once you have checked all the details, click on ‘Start’ shown in the above screen.

You should now see a screen asking you to send the BTC first on a given address. Don’t worry; this is how it is supposed to work when you use Cryptmixer. You need to provide the relevant currency first after which you receive the other currency. Take out your Bitcoin wallet and put the shown address to send your bitcoins on it.

Note: You have 24 hours to send funds otherwise the transaction will be canceled automatically, but I suggest you send it ASAP before the exchange rate of BTC/ELONGATE pair changes.

Step #5. As soon as you send your bitcoins to the shown address, you will start seeing this screen ‘transaction is being confirmed.’ It means your transaction is processing and will be confirmed by the Bitcoin blockchain soon. Usually, it takes 3 confirmations for depositing Bitcoin which can take up to an hour in case of congestion on the blockchain.

The swapping process itself happens almost instantaneously, but the blockchain network takes the rest of the time. Typically, the exchange comprises of these three stages:

  • Getting confirmations
  • Exchanging BTC to ELONGATE
  • Sending Elongate to your wallet

Step #6. Wait with patience, and as soon as your conversion from BTC to ELONGATE is completed, you will see this screen showing you all the details of the transaction.

You can check your transaction details on the respective blockchain also.

Congratulations, Tada….!!! You have done it

Is It like Sending Bitcoin To Elongate?

Some people mistake this for sending Bitcoin to Elongate network and think that its Elongate’s blockchain that is doing the conversion for them.

But that’s far from reality.

In this conversion powered by Cryptmixer, it acts like a mediator who facilitates the conversion of BTC to ELONGATE. Moreover, Cryptmixer is worth relying on such exchanges because it has made a name for itself doing the same for last 5 years in this industry

So what are you thinking?

  • Check Out Cryptmixer for free now

Note: We have used the example of BTC and ELONGATE in this tutorial, but the process of converting any other currency to another one is the same, so feel free to try out Cryptmixer for that too !!

If you liked this guide, please share it with your friends & family member who wishes to exchange Bitcoin to Elongate or vice versa !!

How To Instantly Convert Bitcoin (BTC) To Elongate(ELONGATE)? [Safely] was originally published in The Bullish on Medium, where people are continuing the conversation by highlighting and responding to this story.

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Digital Subscribers on TIME Magazine can now pay with crypto

TIME magazine has allowed its subscribers to make payments using their crypto assets. This move will be possible after its partnership with cryptp.com.

TIME Magazine has collaborated with crypto.com in a bid to start accepting payments in crypto. Crypto.com is a popular digital currency platform whose users will now use their crypto holdings to pay for their subscriptions to TIME Magazine. Users can now make a one-time payment for the 18-month digital subscription for the magazine.

To motivate its users to adopt this new payment option, TIME Magazine will issue 10% cashback to users who use crypto.com to make a purchase. TIME Magazine’s subscription goes for $49. However, this payment option is only available to users in Canada, and the U.S. Global access is expected to commence in July this year.

TIME Magazine leading in Crypto Adoption

A statement issued by the company’s president, Keith Grossman, stated that through its partnership with crypto.com, they would be a step ahead in embracing innovation. It will also help its growing community of subscribers to become part of the change. This magazine has at least 2.3 million subscribers who will now have access to an alternative payment method.

The chief technology officer for the magazine, Bharat Krish, stated that using cryptocurrencies in payments would boost the company’s digital transformation. It will also show how the company embraces technology to create innovative products and services for its community.

TIME Magazine has been very adaptive towards crypto. Recently, the company collaborated with Grayscale and accepted payments in Bitcoin. It also stated that for the first time, the firm would hold Bitcoin in its balance sheet. The magazine also offered three nonfungible token covers on their design titled ‘Is God Dead?’

Crypto.com paving the way for crypto payments

Crypto.com is one of the leading platforms enabling payments using digital currencies. Users on this platform even benefit from incredible discounts by using the native CRO token. Besides, the firm issued cash backs to users who recharge their Visa cards using the CRO token.

Crypto adoption has been rising, and TIME Magazine is among the leading publications heading this adoption. Many institutions are now accepting Bitcoin and other cryptocurrencies as a form of payment. This adoption has positively impacted cryptocurrencies’ value, and traditional investors are now changing their stand on the crypto market. Besides, cryptocurrency adoption also gives investors a way to derive value from their crypto holdings.

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2 Cents per Kilowatt Hour: Bitfarms to Launch a 210 MW Bitcoin Mining Operation in Argentina

The Canadian publicly traded bitcoin mining company Bitfarms has announced a deal that will see the company developing a 210 megawatt (MW) mining farm in Argentina. Bitfarms says that the company was able to secure a low electricity rate at $0.02 per kWh during the contractual period.

Argentine-Based Bitcoin Mining Facility Aims to Acquire 210 MW of Power

The company Bitfarms (TSXV:BITF, OTC:BFARF) has announced the firm is expanding to South America, as it has signed a non-binding memorandum of understanding in order to build a 210 MW bitcoin mining facility.

Bitfarms says the purchase agreement started back in October 2020 and initially the farm would be around 60 MW. However, since then the agreement has been “significantly enhanced,” as the power purchase agreement with a utility-grade private power producer in Argentina will allow the firm to “draw up to 210 MW of electricity at its discretion.”

Bitfarms also details that the warmer climate in Argentina helps the company mine bitcoin without depending on costly liquid immersion cooling techniques. The company also says that the firm will relocate a number of bitcoin miners to the Argentinean facility. During the first week of March, Bitfarms announced the acquisition of 48,000 next-generation bitcoin miners.

“Bitfarms plans to relocate a substantial number of its older miners to the new data centre. While the older miners are less efficient than the new miners, the low cost of electrical power and the proven reliability of these miners will extend their economic life,” the company’s announcement details. “This strategy will allow our older miners to continue to be accretive to cash flow from operations and to contribute to Bitfarms’ overall corporate hashrate.”

Bitfarms Finds Break-Even Costs in Argentina Is 45% Cheaper Than Québec

Further, the company did a comparison to find out the break-even cost to mine BTC in Québec in contrast to mining in Argentina. The company estimates that the Argentinean facility would give the firm a “45% savings.”

Mining bitcoin in South America with 210 MW of low-cost power will help the company achieve an 8 exahash per second (EH/s) target for Q4 2022. “It is also intended to provide geographic production diversification to reduce risk and serve as an effective hedge for Bitfarms against the next halving event in 2024,” Bitfarms’ announcement emphasized.

The company already has operations in Cowansville, Farnham, Magog, Saint-Hyacinthe, and Sherbrooke, Québec. Bitfarms plans to expand Sherbrooke operations 1&2 to an additional four expansions, Cowansville will see a second, Saint-Hyacinthe will see another, and Saint-Jean-sur-Richelieu, a city in eastern Montérégie will see a 5 MW facility.

What do you think about Bitfarms setting up a 210 MW bitcoin mining operation in Argentina? Let us know what you think about this subject in the comments section below.

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Tether (USDT) Active Addresses Exceed 6M, 3M on ETH and 3M on TRON

  • USDT active addresses have exceeded 6 million
  • Half the amount is on Ethereum with the other half on Tron
  • Tether’s market cap has exceeded $48B and still dominating the stablecoin market worth $75.4 Billion
  • Tether’s growth has been organic based on the growth of the crypto markets and DeFi

The number of USDT active addresses has exceeded 6 million. This milestone by USDT was shared by the CTO of Bitfinex and Tether, Paolo Ardoino, who also highlighted that the distribution of these addresses is even between Ethereum and Tron at 3 million each. Mr. Ardoino shared this milestone by Tether through the following tweet.

Tether’s Market Cap Increases by a Factor of 11.27x in 1 Year

A quick look at CoinGecko reveals that the total market capitalization of Tether (USDT) currently stands at $48.5 Billion. Tether’s market cap has experienced exponential growth, with April of last year being a monumental tipping point for the stablecoin as highlighted in the following chart courtesy of the tracking website.

April of 2020 began with Tether’s market cap standing at roughly $4.3 Billion. Comparing this value with the current market cap of $48.5 Billion reveals that the USDT in circulation has grown by a factor of 11.27x in the last year. This is a 1,027% increment in the stated time period.

Tether Continues to Dominate the Stablecoin Arena worth $79.35 Billion

Tether has also continued with its dominance of the stablecoin market that is currently worth a total of  $79.35 Billion. The chart below, courtesy of CoinGecko, provides a visual cue of Tether’s growth in the last year relative to other popular stablecoins such as USD Coin (USDC), Binance USD (BUSD) and DAI.

Tether’s Growth is in Tandem with the Growth of Bitcoin, DeFi and the Crypto-Markets

Connecting the dots, the growth of Tether seen through its 6 million active addresses and an ever-growing market cap, reveals that USDT’s rise has been in tandem with the growth of Bitcoin, Defi and the entire crypto markets in the last year.

Going back in time once again, Bitcoin was valued at roughly $7k in April 2020 with the total crypto market cap standing at only $177 Billion. In the one-year period since then, Bitcoin has posted an all-time high of $64,800 and the crypto markets have hit a peak value of $2.3 Trillion. Furthermore, the one-year period since April 2020, has seen the rise of DeFi on both Ethereum and Tron.

All these events lead to the conclusion that the rise of USDT has been organic and based on its demand in the crypto-verse.

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Bitcoin Price Prediction: BTC/USD Largely in Control of Bears, Price Trades Below $56,200 Level

Bitcoin (BTC) Price Prediction – April 19

The price of Bitcoin rebounds above $56,000, despite the pressure from the sellers.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $50,000, $48,000, $46,000

BTCUSD – Daily Chart

BTC/USD keeps turning heads with its majestic rise to highs above the previous level of $56,273. However, the BTC price could not stay up for long because of an immediate reversal in the market. In the early hours of today, BTC/USD held on to the support above $54,000 but the market still remains below the 9-day and 21-day moving averages.

Possible Next Direction for BTC/USD

The Bitcoin price remains in the consolidation mode below the moving averages, deciding on the next move. However, it can be expected that the market may continue to sell should in case the coin break below the lower boundary of the channel. Therefore, if the bulls begin to show a strong commitment, BTC/USD could rise above the moving averages and may reach the potential resistance levels of $62,000, $64,000, and $66,000 while the RSI (14) indicator faces the south, may continue to give bearish signals.

Nevertheless, the daily chart shows that the weak upward momentum may be affecting the Bitcoin bulls, although bears may continue to keep the price below the moving averages which could lead the Bitcoin price to the supports of $50,000, $48,000, and $46,000 in the next negative moves.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

Bitcoin’s price is now trading around $56,172 after touching the high of $57,412. Looking at the 4-hour price chart, traders can see that bulls are dragging the price above the 9-day moving average. Meanwhile, the $60,000 resistance level and above may come into play if BTC breaks the upper boundary of the channel.

BTCUSD – 4 Hour Chart

However, if the sellers bring the market price below the moving averages, the coin is expected to retest the $54,500 support level. Therefore, breaking the mentioned barrier may drag the king coin to the support level of $53,000 and above. However, BTC/USD is consolidating and could be moving sideways on the medium-term outlook as the RSI (14) moves above the 40-level.

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Bitcoin bears have a $340M lead heading into Friday’s BTC options expiry

$1.55 billion in Bitcoin options are set to expire on April 23 and the recent BTC crash to $51,000 has given bears a $340 million advantage.

Bitcoin (BTC) price is making a slow recovery after facing a sharp 16% correction in the early hours of April 18.

While some analysts blame a 9,000 BTC deposit at Binance, others focused on the hashrate drop caused by a coal mining accident in China. Regardless of the reason behind the $51,200 low, options market makers were forced to adjust their exposure.

Typically, arbitrage desks seek non-directional exposure, meaning they are not directly betting on BTC moving in any particular direction. However, neutralizing options exposure usually requires a dynamic hedge, meaning positions must be adjusted according to Bitcoin’s price.

These arbitrage desks’ risk adjustments usually involve selling BTC when the market drops, which as a result, adds further pressure to long liquidations. Therefore, it makes sense to understand the current level of risk as the April 23 options expiry approaches. We will attempt to dissect whether or not bears will benefit from a $50,000 BTC price.

The initial outlook seems balanced

Before the April 18 correction, BTC accumulated 74% gains in three months as it marked a $64,900 all-time high. Thus, it is natural for investors to approach protective options more heavily.

Bitcoin April 23 aggregate options. Source: Bybt

While the neutral-to-bullish call (buy) option provides the buyer with upside price protection, the opposite happens with the more bearish put (sell) options. By measuring each price level’s risk exposure, traders can gain insight into how bullish or bearish traders are positioned.

The total number of contracts set to expire on April 23 totals 27,320 BTC, which is $1.55 billion at the current $56,500 price. However, bears and bulls are apparently balanced as the call (buy) options total 45% of the open interest.

Bears have a decent advantage after the recent crash

While the initial picture seems neutral, one must consider that the $64,000 call (buy) and higher options are almost worthless, with less than three days left before expiry. A more bearish situation emerges when these 6,400 bullish contracts currently trading below $50 each are removed.

The neutral-to-bearish put options dominate with 70% of the remaining 19,930 BTC contracts. The open interest stands at $1.13 billion considering the current Bitcoin price, and this gives the bears a $450 million advantage.

One can see that bulls were caught off-guard as Bitcoin retraced 13% after the April 14 all-time high. A meager 3,000 BTC call options are left below $58,000, which is only 24% of the total.

Meanwhile, the neutral-to-bearish put options amount to 9,000 BTC contracts at $55,000 and higher strikes. This difference represents a $340 million open interest that favors bears.

As things currently stand, the expiries between $57,000 and $64,000 are reasonably balanced, which suggests that the bears have an incentive to keep the price down on April 23.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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Binance CEO: We Will Eventually Burn All Team Allocated BNB From ICO

  • The Binance team was allocated 40% of the BNB minted during the ICO back in 2017
  • The 80 million BNB is now worth $37 Billion
  • CZ has clarified that all team allocated BNB from the ICO will be burned
  • Binance Coin (BNB) dropped to a local low of $428 due to the crypto market crash earlier today
  • However, fundamentals surrounding the Binance Smart Chain and BNB remain strong

The CEO of Binance, Changpeng Zhao, has shared via Twitter a plan to eventually burn all team allocated BNB from the exchange’s 2017 ICO. According to CZ, the Binance team was allocated 40% of the 200 million Binance Coin (BNB) minted. This amount of 80 million BNB, is now worth roughly $37 Billion, and the team at the exchange plans to burn it all rather than selling it at a profit.

CZ shared this information through the following tweet that also provided the blockchain addresses of where the team allocated BNB is kept for tracking purposes.

Binance Coin (BNB) Drops to $428, But Fundamentals Remain Strong

Earlier today, Binance Coin (BNB) dropped from $518 to a local low of $428 as a result of a crypto-wide dump that resulted in over $10 Billion in liquidations. At the time of writing, Binance Coin is trading at $466 as the digital asset attempts to recover from the dip, and possibly reclaim $500.

A brief analysis of the daily BNB/USDT chart below reveals that the coin has a brutal few days ahead, at least till the price of Binance Coin touches the 50-day moving average (white) as was the case back in late March.

Also from the chart, it can be observed that all indicators point towards a bearish few days or weeks for Binance Coin (BNB). To begin with, the daily MACD is about to cross in a bearish manner above the baseline. Secondly, the daily MFI and RSI are dropping from overbought territory thus implying an ongoing correction.

However, the fundamentals surrounding the Binance Smart Chain continue to provide much-needed bullish momentum for Binance Coin (BNB). The Binance Smart Chain continues to attract new DApps and the migration of those trying to escape the high gas costs of operating on Ethereum. Furthermore, network activity is still high with the Binance Smart Chain processing roughly 4.76 million transactions in the last day.

Therefore, the bearish environment surrounding Binance Coin might just be a precursor to further gains as its utility on the Binance Smart Chain is bound to increased demand for the digital asset.

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Bitcoin Hits a Record Before Slump, DOGE Surges 400%, CBDC, WAX, April 19th

BTC

The Bitcoin price had a rollercoaster week after moving to new all-time highs around the $65,000 level on Tuesday, before seeing a big sell-off on Sunday.

BTC Price Index

BTC had been drifting lower from the highs and was looking to test the $60,000 mark again when a large bout of selling in thin Asian markets liquidated $10bn worth of BTC longs.

Cryptocurrency derivatives exchanges saw the forced closure of the positions on Sunday, doubling the previous market record of $5.7bn, according to crypto data analysts Bybt.

The move showed that leveraged traders were heavily long in Bitcoin and much of these traders will have been flushed out and will step aside to watch the next mores.

Crypto investors were also disappointed by the long-awaited market IPO of the Coinbase exchange. much-anticipated Coinbase IPO. The stock launched on the Nasdaq stock exchange and after an initial move higher to $420, the price has pulled back to trade at $342. This gives the company a $63 billion market cap.

Stock market investors have compared the listing of Coinbase (COIN) to the mid-90s IPO of Netscape. That launch saw the emergence of the dot-com boom, while many hope Coinbase will mark the same for the crypto industry.

Unlike many IPOs, the company is already profitable with revenues soaring by 9X to $1.8 billion and net income at almost $800 million.

The price of BTC has recovered from lows near the $53k level and has bounced to almost $57k. There is a risk of further selling this week based on the technical setup if the coin doesn’t see buyers.

DOGE

I said in last week’s article that a move through the all-time highs, “could see further gains in DOGE”.

DOGE Price Index

Once the coin breached the highs near the $0.09 level, the coin soared over 400% on the week to reach as high as number four in the list of coins by market cap. The market cap of DOGE was around $50 billion at the $0.39 highs. Fans of the meme coin are getting excited about the so-called “Doge Day” on the 20th of  April, where traders hope to spur big gains in the coin.

It has been noted that”65% of all dogecoins are kept in just 98 wallets across the world”. This will increase the surge higher as the supply is limited but could see big selling if the largest holders want to cash in on the recent euphoria.

CBDCs

The Bank of England has launched a task force to explore the idea of a UK central bank digital currency. In a joint statement today, the BoE and HM Treasury will look at the possibilities of a UK coin and this comes on the heels of the ECB’s own decision to formally study the potential.

Some of the points to be studies by the UK task force will include:

Exploration of the objectives, use cases, opportunities and risks of a potential UK CBDC… design features a CBDC must display… monitor international CBDC developments.

In a similar statement last week, the ECB said that “Protecting users’ personal data and ensuring a high level of confidentiality will therefore be a priority in our work.”

This is obviously a coordinated effort by the two banks to move closer to their own digital currencies, but they are both lagging behind China. The ECB said it would take “several years” to complete phases of the study and development, but the digital Yuan has already been tested in some parts of China.

NFT

The NFT craze continues with further developments in the Non-Fungible Token space. The very popular NBA Top Shots collectibles platform has seen investment in its Dapper Labs development team that implies a valuation of $7.5 billion for the project that hosts NBA clips on the blockchain.

Brazilian soccer legend Pele has also become the focus of NFT collectibles with 3D trading cards being released on the Ethernity Chain on May 02, 2021. The cards will be a first for the player and are developed by Australian artist Kingsletter and Visual Lab. Also, 90% of the Pele NFT sales will profit the player’s charitable foundation which assists and educates children affected by poverty. Seen as one of the greatest players of all time, Pele’s 1,279 goals in 1,363 games are a Guinness world record.

WAX

The NBA digital frenzy has inspired Major League Baseball to start releasing its own digital trading cards on the WAX chain. The NFTs will launch this week on April 20th as an extension to the 2021 Topps Series 1 physical cards release. A total of 50,000 standard packs will be sold for $5 while 25,000 premium packs will be sold for $100 per pack.

WAX Price Index

The NFT boom saw the price of WAX soaring in the first quarter of this year with the coin now valued at $311 million after hitting a high above $500 million at the end of March. Wax now trades at the $0.20 price level and holds the number 162 spot in the list of coin projects.

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How To Instantly Convert Bitcoin (BTC) To OmiseGo(OMG)? [Safely]

It looks like you have got to know about the secret of changing Bitcoin into OMG for disappearing in cyberspace with your money.

For those of you who don’t know what I am talking about, here is the thing.

I understand, your reason for exchanging or converting BTC to OMG might be something else. But whatever it is, you need to do this exchange with extreme caution because crypto transactions are irreversible, and with OmiseGo’s functionality, you can do so much more with it.

So to help you out precisely with that we have come up with this step by step guide on converting your BTC into OMG in the least possible time with safety.

We have chosen, Cryptmixer cryptocurrency swap service for this tutorial because it is one of the most user-friendly services to exchange one currency to another.

Let’s jump right into the step by step process:

How & Where To Exchange Bitcoin (BTC) To OmiseGo(OMG)?

Step #1. Go to Cryptmixer.com [No KYC & No Sign-up]

You should see this screen where you can select OMG and BTC pairs as shown in the below image. Do mention the correct amount of BTC you want to exchange for OMG. Doing this will automatically show you the amount of OMG you will be receiving after the conversion is complete.

Step #2. Here click on the ‘Exchange’ option shown in the above image to see the below-shown screen. You can even change the amount of BTC you wish to exchange here too. The exchange fee is set to 0.05% of the transaction.

Here they will ask you for your OMG address. If you don’t have OMG, we suggest you choose a wallet from some of these best OmiseGo wallets and get a OmiseGo address for yourself. This is the OMG address on which you will get your OmiseGo coins in exchange for Bitcoin.

Step #3. After adding the OmiseGo address, click on the ‘Next’ button shown in the above image. Once you do that you will be shown details of your conversion such as OMG address, fees, time for conversion, etc. Verify the details intently on this page before moving forward for the actual exchange.

Step #4. Once you have checked all the details, click on ‘Start’ shown in the above screen.

You should now see a screen asking you to send the BTC first on a given address. Don’t worry; this is how it is supposed to work when you use Cryptmixer. You need to provide the relevant currency first after which you receive the other currency. Take out your Bitcoin wallet and put the shown address to send your bitcoins on it.

Note: You have 24 hours to send funds otherwise the transaction will be canceled automatically, but I suggest you send it ASAP before the exchange rate of BTC/OMG pair changes.

Step #5. As soon as you send your bitcoins to the shown address, you will start seeing this screen ‘transaction is being confirmed.’ It means your transaction is processing and will be confirmed by the Bitcoin blockchain soon. Usually, it takes 3 confirmations for depositing Bitcoin which can take up to an hour in case of congestion on the blockchain.

The swapping process itself happens almost instantaneously, but the blockchain network takes the rest of the time. Typically, the exchange comprises of these three stages:

  • Getting confirmations
  • Exchanging BTC to OMG
  • Sending OmiseGo to your wallet

Step #6. Wait with patience, and as soon as your conversion from BTC to OMG is completed, you will see this screen showing you all the details of the transaction.

You can check your transaction details on the respective blockchain also.

Congratulations, Tada….!!! You have done it

Is It like Sending Bitcoin To OmiseGo?

Some people mistake this for sending Bitcoin to OmiseGo network and think that its OmiseGo’s blockchain that is doing the conversion for them.

But that’s far from reality.

In this conversion powered by Cryptmixer, it acts like a mediator who facilitates the conversion of BTC to OMG. Moreover, Cryptmixer is worth relying on such exchanges because it has made a name for itself doing the same for last 5 years in this industry

So what are you thinking?

  • Check Out Cryptmixer for free now

Note: We have used the example of BTC and OMG in this tutorial, but the process of converting any other currency to another one is the same, so feel free to try out Cryptmixer for that too !!

If you liked this guide, please share it with your friends & family member who wishes to exchange Bitcoin to OmiseGo or vice versa !!

How To Instantly Convert Bitcoin (BTC) To OmiseGo(OMG)? [Safely] was originally published in The Bullish on Medium, where people are continuing the conversation by highlighting and responding to this story.

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PwC Report Shows Bahamas Leads the way in CBDC Development

The PwC report shows that Bahamas and Thailand are ranking on top in terms of retail CBDC development. The report clarifies the progress towards creating a digital currency backed by a central bank.

An April report by the PwC titled ‘CBDC Global Index’ analyzed the performance of different countries in developing a Central Bank Digital Currency (CBDC). The report analyzed the maturity of these currencies based on their retail applications and interbank applications.

In retail application, the PwC evaluated how CBDCs could be used as a medium of exchange in the same way as fiat currencies. Interbank applications refer to how this currency can be used in settling transactions between financial institutions.

Benoit Sureau, a PwC representative for France and Maghreb, affirmed that over 60 central banks have already joined the race towards developing a CBDC. He also stated that CBDC would create transformation in the financial sector. It will give the public and institutions an alternative way for them to settle transactions.

The Bahamas is leading the way

The PwC survey said that the Bahamas had achieved a 92% score in terms of the maturity of their CBDC. The Bahamas was taking the lead and was followed closely by Cambodia with an 83% score. Mainland China has a 75% score, and Ukraine had a 71% score.

According to the study, the Bahamas, progress had been attributed to the Sand Dollar it launched in October 2020. The dollar was a digital copy of the country’s fiat currency. The Central Bank of the country supported the Sand Dollar project.

PwC also noted that residents of the Bahamas could quickly gain access to the digital wallet using a mobile app or a payments card, making it easy to collect user data. The Sand dollar has reached advanced levels of development, noting that it was almost at a phase where it could be used for commercial purposes.

Racing towards a CBDC

Mainland China started the process of developing retail CBDC in 2014. However, the country has not achieved a successful rollout and implementation, and its CBDC did not rank among the top 10 ranked by the PwC.

In terms of the maturity of CBDCs, Thailand and Hong Kong are taking the lead. The two achieved an 80% score, while Singapore came in third with a 75% score. Canada, United Kingdom, and France scored 75%, 69%, and 64%, respectively. Thailand has heavily invested in launching a CBDC since 2018 and even started its pilot phase in 2019.

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Dogecoin Flips XRP As Fourth Largest Cryptocurrency

One-time disregarded meme coin Dogecoin (DOGE) has thrown many investors in disbelief, replacing XRP as the fourth-largest coin early Monday.

Dogecoin Rally Continues

The digital asset created in 2013 as a parody to Bitcoin has risen to a new ATH of $0.43 early Monday, according to Coinmarketcap. 

This means that the meme coin has extended its previous week’s rally of $340%.

Dogecoin has relegated the payments-focused XRP as the fourth-largest cryptocurrency following its new ATH to market capitalization. 

During the period, Doge’s market capitalization was above $54 billion, according to Messari. 

On the other hand, XRP’s market value stood at $53.4 billion with a market price of $1.41.

Most importantly, Bitcoin remains the largest cryptocurrency with a market cap of $1.05 trillion.

Doge’s incredible rally in recent days has shocked many analysts who have predicted new price expectations for the digital token before the end of 2021.

According to betting website us-bookies’ prediction on the meme token, there is a 17% possibility of the Shiba Inu rallying to $1 against the initial 2.9% prediction made in early April.

To celebrate this impressive rally of the digital coin, some crypto enthusiasts on Twitter have declared April 20 as “Dogeday.”

Also, the ‘Dogeday’ is otherwise called “Elon Musk Day” due to the Tesla CEO’s strong support for the cryptocurrency through his various posts on Twitter.

Unsurprisingly, Dogecoiners like Pavilion Gold, Sidney Croin, and others have tweeted that the coin may hit 69 cents today.

At press time, the Dogecoin market price stands at $0.4.

Driving Force Behind Doge Rally

Besides Elon Musk’s support of Dogecoin, the increasing adoption of the meme-based cryptocurrency by many institutional and retail investors is responsible for the higher rally of the coin.

The Dallas Mavericks announced that the basketball team would soon commence accepting the Shiba Inu-represented cryptocurrency as a form of payment for its merchandise.

CEO of Dallas Maverick, Mark Cuban, explained that the acceptance of Doge would be facilitated by a cryptocurrency payment services provider Bitpay.

In this regard, merchants and customers will be able to use the coin to make purchases.

Similarly, Automated Teller Machine (ATM) provider CoinFlip disclosed that DOGE can now be purchased across its 1,800-machine network, thereby giving the crypto a huge boost.

Meanwhile, the leading tech-focused e-retailers company Newegg announced support for Dogecoin payments on Newegg.com.

Additionally, many retail investors are not backtracking in buying the meme cryptocurrency. 

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Bitcoin Price Prediction: BTC/USD Lacks Technical Breakdown; Price Crashes Below $57,600

Bitcoin (BTC) Price Prediction – April 19

BTC/USD is currently in the hands of the sellers but consolidation is likely to take place.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $50,000, $48,000, $46,000

BTCUSD – Daily Chart

According to the daily chart, BTC/USD has not been able to break above the resistance level of $58,000 with the current consolidation pattern. The coin fails to close above the $57,600 level after which it sees a sharp drop below the 9-day and 21-day moving averages. However, the first support level is located below the lower boundary of the channel around $52,000.

What to Expect from Bitcoin (BTC)

The Bitcoin price has continued to move around the lower boundary of the channel, the coin may set up another few days of negative price declines beneath $55,000. Meanwhile, a break above the previous level would have set the first digital asset up to retest the $57,000 level. On the other hand, the technical indicator RSI (14) may follow the downward movement as the signal faces the 40-level. The supports to watch are located at $50,000, $48,000, and $46,000 respectively.

Furthermore, we can clearly see the number-one crypto failing to break below the channel. Today, the Bitcoin price touches the daily high of $57,600 but later dropped back beneath the $56,000 level. Nevertheless, the daily candle is still yet to close and it does look unlikely that the bulls may end up closing above this level. More so, toward the upside, resistance lies at $62,000, $64,000, and $66,000.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

The 4-hour chart shows that the Bitcoin bears are now stepping back into the market pushing the BTC price below its previous support level that existed around $54,800. Although the Bitcoin price has not yet slipped below the lower boundary of the channel, according to the technical indicator, it’s still in the loop of making a bounce back.

BTCUSD – 4 Hour Chart

At the moment, BTC/USD is currently moving below the 9-day and 21-day moving averages. If the coin crosses above the 9-day MA, the upward movement may likely push the price to the nearest resistance at $59,000, and above while crossing below the channel may hit the support at $51,000 and below. However, the RSI (14) is focusing on the oversold territory, which indicates more bearish movement within the market.

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