5 Cryptocurrencies to Buy As Crypto Prices Start Recovery

As the prices of some cryptocurrencies rebound, this is a great opportunity to buy at appealing entry prices. But note, you must consider your risk tolerance for digital assets investment before investing. Also, your familiarity with a cryptocurrency can help you select the coin wisely for investment.

You can buy cryptocurrencies either as an investment or for trading purposes, or both. For whichever option it may be, it will never be wrong to include digital assets in your portfolio.

5 Cryptocurrencies to Buy as Crypto Prices Rebound

1. Why buy Bitcoin

According to U.S.News, Bitcoin has more dominance in the crypto market after the first mining of the coin in January 2009.

Though the price of BTC cannot be predicted precisely, it has always been dynamic. When you think of the world of cryptocurrencies, the first thing that comes to your mind is Bitcoin. BTC is referred to as the kind in the cryptocurrency ecosystem.

In April 2021, Bitcoin tapped an all-time high of $65,000. This upward surge represents a doubling of its price from $30,000 in January 2021. The new price accounts for over 45% of the market capitalization of above $1 trillion.

A closer look in the crypto market shows Bitcoin is taking over 70% of the market earlier this year. This further implies that other cryptocurrencies are also rising. The dominance of Bitcoin in the crypto market can never be overemphasized. In May, Bitcoin’s market cap was above $1000 billion.

The rise in the value of Bitcoin also links to its use as collateral for loans, stablecoins, etc., in the DeFi sector. Bitcoin is also seen as a fence against instability in macroeconomics and inflation.

Although the Market Cap at press time is $721,243,653,029, and the price is at $38,559.92, there’s hope that it’ll rise again. From recent predictions concerning Bitcoin price, some crypto experts are forecasting a rise to $70k before the end of 2021. Investing in Bitcoin can later turn out to be a wise investment.

2. Ethereum a buy at $2,791

Ethereum is rated as the second-largest crypto after Bitcoin by market capitalization. Ether was created in 2015 and had a market cap of above $323 billion. The recent surge in its price suggests that ETH is getting ready for a bullish run.

Also, as the Ethereum blockchain upgrades, it boosts the value of the Ethereum-based tokens. With the launch of the Berlin hard fork in April 2021, the platform has some outstanding operational features.

It now improves network security, optimizes transaction fee usage, and permits a few types of new transactions. With the anticipation of another upgrade in summer 2021, London hard fork, you can anticipate ETH’s bright future.

Also, ETH turned down from its 20-day EMA at $2,762 on the 1st of June. This indicates that buyers were not in a rush to close their positions. Also, the flattening 20-day EMA and the rising RSA close towards the midpoint shows that the selling rush surrounding the crypto in recent times has died down.

So, if ETH buyers keep the price at a point above its resistance line, ETH/USDT pair may record a 61.8% Fibonacci retracement level at $3,362.72 and a 78% retracement level at $3,806.

In case if ETH bulls don’t sustain their price past the triangle, there will be a few days of consolidation in the triangle for the ETH/USDT pair. Any fall below the triangle will give the bears an upper hand.

3. Buy Uniswap at $28.4

Uniswap operates on the Ethereum blockchain as the lead in the decentralized crypto exchange. It was created in 2018 as an open-source and is compatible with ERC-20 tokens.

Being a decentralized exchange (DEX), Uniswap gives the users control over their funds always. Thus, it removes the risk of asset losses in cases where the exchange is hacked.

Another distinguishing feature of Uniswap is its operation. It’s not controlled by any single entity. Also, users in Uniswap have the privilege of free token listing on the exchange.

Uniswap has over $3billion worth of digital assets on its protocol, which keeps it as the world’s fourth-largest DEX platform. Its token, UNI, is a governance token.

As a governance token, the holders of UNI can decide on the upgrades and developments on the Uniswap platform. The holders contribute to the distribution pattern of minted tokens to developers and the Uniswap community. They also influence changes in fee structures on the Uniswap platform. This raises the value of UNI and makes it very competitive in the crypto market.

Thus, UNI is a good digital asset for you to buy. Presently UNI’s price is at $27.99, and the total market cap is above $15 million. But according to experts, UNI might reach $119 in 2022.

4. Buy Chainlink at $32

Chainlink is a decentralized network that operates through the use of oracles to pass information from the real world to the blockchain. The transfer of information is using enabled by smart contracts. Chainlink was created in 2017.

It is meant to bridge the gap in the blockchain industry by permitting interoperability. Thus, Ethereum, Bitcoin, and others are compatible. Chainlink provides the platform for banks and other payment services to be in the cryptosystem.

Chainlink is unique as it increases the accuracy and security of information. Its ability to bring this comes from decentralizing smart contracts in DEX.

A close study of the Chainlink token, LINK, shows it’s a viable investment for any investor. LINK’s price was $11.45 in January 2021. By May 2021, the price surged to $51.17. Presently the price is at $31.95, and the market cap is above $13 million. However, most crypto experts forecast a possible rise in the price to $100.

5. Litecoin a buy at $190

Litecoin as a cryptocurrency operates with peer-to-peer technology. It was created in 2011. The nature of Litecoin is complementary to Bitcoin. Just like Bitcoin, Litecoin runs its payment on an open-source system. This removes its control from any single entity or authority.

Litecoin has over 84 million LTC as its supply limit, while Bitcoin has just 21 million. The larger supply limit of Litecoin makes it the silver to Bitcoin gold.

Litecoin permits inexpensive and fast borderless transactions. Its referred to as the first successful altcoin (alternative cryptocurrency for Bitcoin). It’s quite stable and affordable for investors looking for searching for altcoins.

The Litecoin token, LTC, has made a tremendous rise in price from January 2021 to May 2021. The price rose from $126.23 to $477. This depicts an asset that will be very viable for investment.

Presently, Litecoin is trading at $189.95, and the market cap is above $12 million. From the forecast of crypto experts, the price of LTC is predicted at $1200 by the end of 2021.

Time to buy crypto – use dollar cost averaging

It’s never late to buy cryptocurrencies. But if tyou can’t decide when to dive in, then why not dollar cost average in by investing a manageable amount on a regular basis. Understanding the potential for each digital asset broadens your vision as you choose the ones to buy. Bitcoin is the king among the digitals assets. Its continuous surge in price makes it a very viable crypto to buy.

However, it’s the most expensive among all other crypto coins. So, if you’re not prepared for Bitcoin,  you can switch to other altcoins that your risk tolerance can accommodate. This roundup of the 5 best cryptocurrencies to buy will help you select crypto coins that are more likely to surge in the future.

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Standard Chartered Launching Crypto Trading For Institutional Clients

A unit of Standard Chartered PLC is set to launch a platform that will provide cryptocurrency exchange and brokerage services, targeting its institutional and corporate clients.

The new exchange platform will be created through a partnership between SC Ventures and BC Technology Group, which manages OSL, a crypto exchange licensed in Hong Kong. SC Ventures is the bank’s innovation division.

The project has not yet been named and is still seeking regulatory approval. However, it is expected to launch in the last quarter of 2021. Nick Philpott from SC Ventures will be the project’s chief operating officer, while Usman Ahmad from BC Group will be the project’s CEO.

Targeting European Institutional Clients

In its announcement, Standard Chartered stated that the exchange would focus on the European market and allow institutional clients to access digital asset trading services.

Alex Manson, the head of SC Ventures, said, “The new company will offer brokerage and exchange services to enable wider adoption and trading of cryptocurrencies by “the world’s largest and most demanding of investors.” He also added that “We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class.”

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Financial firms have been under pressure from institutional clients who want to gain exposure in the crypto sector. Standard Chartered had earlier conducted a survey, which showed that major crypto exchange platforms traded more than $4 billion a day. This shows the potential of the crypto markets and why financial giants such as the Asia-focused bank are taking a keen interest by setting up new services.

Leading Financial Firms are Embracing Crypto

By launching a crypto-based platform, Standard Chartered will be joining other global banking giants that have launched crypto trading avenues for their clients. These banks include Morgan Stanley, Goldman Sachs, BNY Mellon and Asian competitor DBS.

JPMorgan launched a dedicated blockchain unit known as Onyx. The unit would help create the bank’s native token named JPM Coin and create an interbank payment network.

However, not all banks have shown positivity towards cryptocurrencies. HSBC, a major competitor of Standard Chartered, stated that the bank would not be launching a cryptocurrency trading desk.

This will not be the only move that Standard Chartered is making towards embracing cryptocurrencies. The bank partnered with Northern Trust in December to launch Zodia Custody, an institutional custody service.

Last July, the bank also bought a stake in Metaco, a blockchain technology service provider. It also said it was collaborating with the central banks of Hong Kong and Thailand to explore money transfers made on the blockchain.

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Ripple XRP Price at $1.04, is $1.10 Next? Where to Buy XRP

Ripple XRP has been on everyone’s lips for a while now. The asset has managed to stay afloat and hit new highs despite a legal case against its developers, Ripple Labs, by the Securities and Exchange Commission (SEC).

In April the XRP price topped out at $1.82, marking a four-year high and showing that the asset still has a lot of movement going for it. The recent price moves have continued to encourage investors, many of whom are now looking to purchase it in anticipation of more price gains.

The Unending SEC Debacle

In December 2020, the SEC charged Ripple Labs and two of its executives – President Brad Garlinghouse and co-founder Chris Larsen – of securities fraud. According to the regulator’s complaint, the defendants had offered XRP to investors in a 2013 Initial Coin Offering (ICO) without registering it as a security.

The complaint also charged Larsen and Garlinghouse with profiting over $600 million in personal XRP sales without reporting the sales to it. As expected, the news immediately sent XRP tumbling. Several top exchanges and asset managers quickly dissociated themselves from the embattled asset, and its price suffered a huge blow.

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Success With the Case Spurs XRP Price

While many had written the value of XRP price off, the asset has been on a resurgence the past few months. This is largely due to successive wins in the SEC case. In April, the court granted Ripple access to internal SEC discussions regarding cryptocurrencies. It also denied the SEC’s request to get financial records of Garlinghouse and Larsen.

A third win came this week, with the court denying the SEC’s motion to compel Ripple Labs to disclose discussions with its lawyers regarding XRP sales. All of these continue to encourage XRP investors to hold the asset as a Ripple Labs win seems more and more likely.

Ripple XRP Price Analysis: Clawing its Way Back

Amid the price gains, XRP has also been affected by the wider market crash that took place last month. With all major assets suffering losses, XRP wasn’t spared. Charts show that the asset’s price bottomed out at $0.8077. Still, it has been on the rise since then as the market slowly recovers.

On June 1, bulls tried to push XRP price past the 20-day EMA of $1.07.
While the bears met them with stiff resistance, bulls appear to still be in control of the market. We could see this optimism sustained to push the asset’s price above the 20-day EMA, thus forcing the asset to rally above the 50-day EMA of $1.30. If they fail, however, the asset could see yet another drop below $1 – and possibly to the low $0.80 region.

With the bulls firmly back in control of the market, there is optimism that XRP will hit the $1.10 mark soon enough.

Ripple XRP Price– Where to Buy XRP

While many exchanges have delisted XRP, it is still available on some top names. These include:

  • eToro

eToro is a top stock trading service that provides crypto assets as well. Trading on eToro provides access to a wide array of markets, and you can take advantage of its user-friendly interface even if you’re a beginner. One of the main features of eToro is its zero-commission trading. The platform won’t charge you a dime on both buy and sell orders, unlike some other exchanges like Binance. You also get access to several impressive tools on eToro, including charting and a real-time price view.

  • Binance

Binance is the world’s largest crypto exchange. It’s one of the top destinations for cryptocurrency traders due to its liquidity and trading features. Besides its trading volume, Binance offers one of the lowest trading fees in the market. Besdies fees, Binance also features a robust derivatives market that makes leverage trading easy.

  • Phemex

Phemex is a Singapore-based exchange with millions of customers worldwide. However, with most exchanges delisting XRP due to sanctions, Phemex is one of the top places where you can purchase the asset. If you’re big on the futures market, Phemex should be a no-brainer for you. The exhcange offers leverage of up to 100:1 on most assets on the platform.

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Bitcoin Cash Price Prediction: BCH/USD Exhausts Energy to Upswing

BCH Exhausts Energy – June 3
The market worth of BCH/USD has been on over a time struggling to push northward for increment but it has not able to swing past the resistance of $800. The market now exhausts energy to upswing as price trades around $712 at a rate of 2.11% appreciation as of writing.

Exhausts Energy: BCH Market
Key Levels:
Resistance levels: $800, $1,000, $1,200
Support levels: $500, $400, $300

BCH/USD – Daily Chart

On the BCH/USD daily chart, it is depicted that the crypto has been continually featuring variant small candlesticks representing lower highs. The $800 value lines tightly between the SMAs. The bearish trend-line drew downward to markdown the immediate resistance level as mentioned earlier. The 50-day SMA indicator is underneath the 14-day SMA trend-line as they are also located closely. The Stochastic Oscillators are freshly into the overbought region with the two lines pointing toward the north. With the rate at which the crypto’s value is pushing, the required catalyst appears not building up strong for sustainable upkeep at a higher trading point it could eventually achieve.

How long will the BCH/USD’s $800 point remain the main resistant line as the crypto exhausts energy?

The market operations between Bitcoin Cash and the US Dollar have witnessed a struggling situation as the crypto exhausts energy to rebound northbound further under the market level of $800. An eventual close curving of the smaller SMA trend-line around the point mentioned earlier may in the long portend a continuation of an upward swing. However, it would be of less-active motion.

On the downside, it is believed that some degrees of barriers are being mounted around the key level of $800 as the Stochastic Oscillators have now placed in the overbought region. At this point, bears are enjoined to wait a while for an emergence of a bearish candlestick around the point being mentioned severally to confirm a return of a downward move. An interception of the bigger SMA from the top by the smaller SMA will add more to the downward signal strength.

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BCH/BTC Price Analysis

On the BCH/BTC daily price chart, the trend still gives that Bitcoin Cash as compared with Bitcoin has more upswing potentials than the counter crypto. After the emergence of a bullish candlestick on May 24, the base crypto has continually pushing to feature variant higher lows on the buy signal side of the bigger SMA. The bullish trend-line drew to play a supportive role to the 50-day SMA indicator as the 14-day SMA trend-line is located over them. The Stochastic Oscillators are with opened lines pointing toward the north near range 80. That shows that the base crypto still somewhat potentially has the advantage to push further against the counter instrument.

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Ron Paul Wants Bitcoin Totally Legalized to Compete With Dollar and Let the People Decide

Former U.S. congressman Ron Paul says that he wants to legalize the dollar’s competition, including bitcoin, and let the people decide which money to use, not the government. “Freedom of choice will sort it out,” he said.

Ron Paul Wants to Legalize Bitcoin as Money to Compete With Dollar

Former presidential candidate Ron Paul discussed bitcoin as an alternative asset in an interview with Kitco News’ Michelle Makori Wednesday. Paul is an American author, physician, and retired politician. The former congressman from Texas launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis to the breaking issues affecting our lives and finances,” its website details.

When asked about his views on bitcoin, Paul said that he knows a lot more about precious metals being money than cryptocurrency. “I was fascinated with it for a long long time. But I’m also fascinated with what’s coming,” he opined.

The former congressman added that “people ought to have as much freedom as possible to have choices.” He then describes a bill he introduced in Congress to “not only audit the Fed but also to get rid of the legal tender laws.” He explained that currently, the government will not allow anything to compete with the dollar on the national level, elaborating:

My goal is to legalize the competition and the people will sort it out. Freedom of choice will sort it out.

“My concern is that governments over centuries have been notoriously very eager to have control of the money. Believe me, they will not give up control of money,” he emphasized.

Paul was asked to elaborate on what he meant by legalizing the competition. He replied: “Right now, if you buy and sell gold, you get it taxed, they can do that. If you make a profit in bitcoin, you read stories about people being taxed on it. You can’t tax money, you don’t tax it. If you bought a dollar a year ago and it went down 10%, you can’t take a loss because your dollar lost value.”

Paul will also be speaking at the Bitcoin 2021 conference Friday. Regarding what he plans to say at the conference, he said: “I will argue more the case for the legalization of freedom of choice, and the people should make decisions and not the government.”

He acknowledged that some people are very enthusiastic about bitcoin and think that it is the only money that will exist, replacing the dollar. However, in his opinion:

I think the dollar is going to be around but it’s not gonna be worth much.

Nonetheless, he noted: “the legal tender laws force you to use legal tender, so they won’t even allow you to replace the dollars with cryptocurrency. There will be laws against that. But, I want to totally legalize it.”

He further opined: “I think our problem isn’t the technicality of the gold standards or crypto. Our problems are the dependency on government and less concern about personal liberty. What about property rights and contract rights? This is what we need to be concentrating on.”

Do you agree with Dr. Ron Paul on bitcoin? Let us know in the comments section below.

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Steve Wozniak Can’t Stop Bitcoin Giveaway Scams Using His Name — Federal Law Protects Youtube

Apple co-founder Steve Wozniak has lost his lawsuit against Youtube over bitcoin giveaway scams using his name and image. The judge reportedly said that “Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users.”

Bitcoin Giveaway Scams Continue on Youtube as Steve Wozniak Loses Lawsuit

Steve Wozniak has lost his lawsuit against Youtube over bitcoin giveaway scams on the video-sharing platform fraudulently using his name and image. Bloomberg conveyed that Judge Sunil R. Kulkarni of the Superior Court of Santa Clara County said in a tentative ruling Wednesday:

Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users.

Scammers have been using Youtube to post videos claiming that famous people are giving away bitcoin or other cryptocurrencies, such as ether. They promise to double the amount of bitcoin sent to them.

Besides Wozniak, scammers have used the names and images of Tesla CEO Elon Musk, Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates, and Richard Branson. They have also used some well-known people in the crypto space, such as Coinbase CEO Brian Armstrong and Ethereum’s Vitalik Buterin. Bitcoin News reported in July last year that the Elon Musk bitcoin giveaway scam raked in millions of dollars.

Wozniak and 17 other fraud victims sued Youtube and Google in July last year. They argued in the lawsuit that Section 230 of the Communications Decency Act should not apply to their case because Youtube not only failed to remove the scam videos but “materially contributed” to the scam.

Wozniak claimed that the video-sharing platform profited from the scam by selling targeted ads, driving traffic to the fraudulent videos after falsely verifying the scammers’ Youtube channels.

However, Judge Kulkarnia told Wozniak that those factors were not enough to overcome the immunity provided by Section 230. She gave the Apple co-founder 30 days to revise his complaint.

Do you think Youtube is at fault for allowing bitcoin giveaway scams to persist on its platform? Let us know in the comments section below.

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QE Begins to Slow — Federal Reserve Reveals Winding Down of Corporate Bond Purchases

On Wednesday, the U.S. Federal Reserve announced it would be winding down its corporate bond purchases and selling part of its portfolio. The central bank plans to start with exchange-traded funds and then move on to bonds as the Fed insists “sales will be gradual and orderly.”

Federal Reserve Starts to Unwind QE

All eyes have been on the American central bank in recent times as the Federal Reserve has started tapering back quantitative easing (QE) tactics. It’s fascinating to onlookers because an estimated 24%-30% of all the USD ever created was added to the M1 monetary system by the central bank in 2020 and 2021. Moreover, the Fed told the press at the recent Federal Open Market Committee (FOMC) meetings that it would take some time for tapering discussions to begin.

Fed Chair Jerome Powell hasn’t discussed the recent slow down toward QE since he said the Fed wasn’t even ready to have a conversation concerning tapering back QE.

The central bank followed up with these statements by removing liquidity from the market via reverse repos. As soon as the unwinding started, the Fed’s reverse repos increased, moving hundreds of billions of dollars off the market. Now the Fed plans to unwind corporate bond purchases and it explained it will start with exchange-traded funds. The Fed will follow with bond sales, so the sales will not impact the market in a negative fashion.

“Sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions for exchange-traded funds and corporate bonds,” the central bank noted on Wednesday.

Fed’s Portfolio Sale Announcement Does Not Mention Mortgage-Backed Securities

The announcement was made by the Secondary Market Corporate Credit Facility (SMCCF) which handles emergency bond actions for the Fed. A number of other emergency monetary easing facilities have expired after they were created to handle the economic crisis sparked by Covid-19.

The U.S. central bank did not mention mortgage-backed securities (MBS) and has not mentioned any tapering of MBS purchases to date. Data suggests during the last year that the Fed’s MBS operations and a new flock of Wall Street investors are behind the inflated U.S. real estate market.

The SMCCF also noted the facility will leverage Treasury equity at 10 to 1 when acquiring corporate bonds of issuers, and 7 to 1 when acquiring corporate bonds of issuers that are rated below investment grade. There will be higher grades of risk the SMCCF announcement details, and the sales will become effective on July 28.

What do you think about the Fed winding down corporate bond purchases? Let us know what you think about this subject in the comments section below.

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Defi Economy Is Recovering Faster Than Most Crypto Assets After Market Rout

Decentralized finance (defi) exchanges and tokens are recovering a lot faster than a great number of digital assets that lost more than 40% in value last week. Defi tokens like curve, kyber network, terra, hxro, and more have been seeing double-digit gains. On May 23, the defi economy’s aggregate total-value locked (TVL) dropped to a low of around $50 billion and has since gained $17.4 billion.

Defi Economy Lifts Higher Than the Rest

Defi fans are seeing the economy improve a bit after many decentralized finance tokens lost a significant amount of value during the recent market rout. However, the defi economy is picking up steam once again as a myriad of metrics show the ecosystem is healing faster than other crypto assets.

TVL has jumped 34.8% since May 23, 2021.

Seven-day statistics for decentralized exchanges (dex) show $19 billion swapped on dex applications like Uniswap, Sushiswap, Curve, 0x Native, and Tokenlon.

Decentralized exchange (dex) volumes according to Dune Analytics.

Dune Analytics stats show Uniswap saw $11.4 billion in trades while Sushiswap saw $2.4 billion in swaps during the last week. On the Binance Smart Chain (BSC), the popular dex platform Pancakeswap tallied $20.4 million in volume in the last 24 hours.

Binance dex has seen $5.4 million in 24-hour volume while BSC dex apps like Autofarm and Nerve Finance have also seen increased trading action. Coinranking.com’s exchange ratings show Uniswap is ranked 18 out of the top 20 exchanges today.

The defi economy’s TVL has increased by 34.8% since May 23, after the defi TVL slid to $50 billion and jumped back to $67.4 billion, according to data collected on June 2. Defipulse.com records show that Aave has a dominance ranking of 15.18% as the lending protocol has $10.2 billion TVL.

Defi users (unique addresses) have increased significantly during the course of 2021.

Defi users over time continue to rise exponentially as Dune Analytics indicates there are 2.64 million unique addresses today. Unique defi addresses have grown 124% since December 31, 2020.

Currently, Uniswap is pulling in the most revenue followed by Sushiswap and Aave. As far as TVL data is concerned, following Aave, defi platforms like Maker, Compound, Polygon, and Curve have jumped 7-12%.

30-day monthly volumes for Opensea and Rarible NFT markets.

The top non-fungible token (NFT) markets Opensea and Rarible have seen a significant rise in USD volume in May compared to April. Opensea for instance saw $93 million in April and in May volume jumped to $138 million.

Rarible’s volume was slightly higher in April compared to May and Opensea still towers over Rarible in terms of USD volume. Rarible saw $37 million in April and May stats indicate the NFT marketplace saw only $22 million.

What do you think about the current state of the defi ecosystem? Let us know what you think about this subject in the comments section below.

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Top blockchain mentors join forces to advise on ‘groundbreaking’ Solana projects

Solverse Accelerator was established to support high-potential projects building on Solana. It’s also a way to incentivize further development on the blockchain network, which has grown rapidly this year.

Solverse, a Solana-focused accelerator program, has tapped 21 subject matter experts to advise on up-and-coming Solana projects, setting the stage for further development of the high-performance blockchain network. 

Representatives from 21 companies were selected to join the Solverse mentorship program. The mentors themselves come from diverse backgrounds, including global investment banking, blockchain infrastructure and media. Representatives from Alameda Research, Axia8 Ventures, Bitscale, Lemniscape and many others will make up the mentorship panel.

The infrastructure provided by Solana will bring De-Fi capacity and sophistication to the next level,” said Wayne Lin, founder of Axia8 Ventures. “Our goal with Solverse is to create a brain trust with the top minds in the industry and to aggregate resources for products and services that will elevate the on-chain world.”

The projects selected for Solverse Accelerator will receive advisory support from the mentors, as well as a go-to-market strategy. The accelerator program also provides resources and grants to aid entrepreneurs in bringing their products to market.

The Solana ecosystem has become a hotbed of activity for developers of late, with Metaplex becoming the first nonfungible token platform to launch on the network. Since launching in March, the Solana ecosystem has facilitated over 50 market-ready projects by last count. Decentralized finance, or DeFi, continues to be the biggest use case for the network.

Solana Foundation, the grants program underpinning the network, announced earlier this year that it had raised $40 million in strategic investments from cryptocurrency exchanges OKEx and MXC. The cash injection will help accelerate the development of several projects set to launch on the Solana network.

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Dapp for upcoming Diem blockchain raises $4.5M in seed investments

Pontem Network has received backing from several notable investors, including Delphi Ventures, Collider Ventures, Alameda Ventures, Skynet Trading and Animoca Brands. In total over 30 investors contributed to the raise.

Pontem Network, a decentralized application that seeks to connect Facebook’s Diem to public blockchains like Ethereum (ETH), has raised $4.5 million in seed investments, setting the stage for continued development of the ambitious digital currency project. 

The Pontem Network is described as a Polkadot Substrate-based chain, which means it can serve as a testnet for Facebook’s Diem blockchain. By utilizing a Polkadot parachain, Pontem can introduce developers to Diem’s potential, allowing them to validate their ideas before submitting to the Diem Association.

Pontem co-founder Stas Oskin said his platform’s vision is to “allow developers to build for Diem and at the same time enjoy the liquidity, data, and user base of Polkadot.”

Jehan Chu, co-founder and managing partner of Kinetic Capital, one of Pontem’s backers, said:

“Pontem is an audacious project in that it not only creates a testing ground for Diem, possibly the largest and most adopted blockchain project in the world, but also an active proving ground for new protocols and communities.”

Pontem also announced its intent to hire new talent to continue scaling the project. The company recently recruited Alejo Pinto, formerly of BlockFi, for the role of chief growth officer. He said: 

“Pontem’s vision of a decentralized framework for Facebook’s crypto project will ensure that the bureaucracy of a permissioned blockchain system doesn’t hinder innovation in our goal towards financial inclusion.” 

The Facebook-backed Diem Association is reportedly set to launch its stablecoin pilot later this year. As Cointelegraph previously reported, the pilot centers around a United States-backed stablecoin.

Diem is considered to be a scaled-back version of an original cryptocurrency project that was first introduced by Facebook in 2019. Diem rebranded from Libra in late 2020, denoting the project’s fresh start from its previous associations.

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Polkadot (DOT) and Kusama (KSM) skyrocket in price after attracting $30M in funding

Polkadot and Kusama prices rose as Master Ventures announced a $30 million Polkadot ecosystem fund.

Polkadot (DOT) and Kusama (KSM) rose in tandem on June 3 as traders assessed a venture capital firm’s major investment into their blockchain ecosystems.

Dubbed as Master Ventures, an Asian blockchain incubator and venture capitalist announced that it had launched a $30 million venture capital fund called Master Ventures Polkadot VC Fund. In a press release published Wednesday, the firm said that its fund would “support and finance the Parachain bids” of tier-1 blockchain projects that want to win a Parachain slot on the Polkadot Relay Chain.

Master Ventures also noted that its proceeds would also assist early-stage projects in launching atop the Polkadot and Kusama ecosystems.

Traders took the announcement as their cue to raise their bids on DOT and KSM pairs. Their sudden interest allowed the DOT/USD exchange rate to rise by up to 27.91% to $29.21 from its Wednesday opening rate. Meanwhile, Kusama’s KSM/USD climbed 39.35% to $511.91 in the same period.

Twin rallies in Polkadot and Kusama markets. Source: TradingView

The wild moves uphill accompanied bullish outlooks across the social media, with widely-followed analysts predicting upside continuation in both the Polkadot and Kusama spot markets. 

At the root of bullish analogies lied a promise that Master Venture’s $30 million investment into the Polkadot ecosystem would lead to a speedier auctioning of its “Parachain slots.” In retrospect, a Parachain is equivalent to a blockchain (layer 1) tied to one particular functionality, with its own specialized characteristics and governance structure.

For example, one can bid for the Polkadot Parachain slot to, say, build a decentralized oracle network atop it. As a result, the outcome would be an application-, users-, and liquidity-specific unique blockchain that would be able to query data from other Parachains, with Polkadot acting as a layer 0 solution — a node — that enables communications between its undertaken blockchains. 

Meanwhile, Kusama is an experimental version of Polkadot but exists as an independent blockchain network. It functions as a sandbox for developers that want to test pre-release versions of their projects before deploying them on Polkadot’s mainnet.

Potential demand for DOT and KSM

Developers bidding for Parachain slots on Polkadot and Kusama would need to use the projects’ native assets, DOT and KSM, respectively.

Master Ventures’ $30M fund intends to support and finance these developers and their tier-1 projects. That means the venture capital firm would need to purchase DOT and KSM tokens to back the Parachain auction’s bids. In turn, Polkadot and Kusama would lock the tokens for as long as the developers want to run their project on their parachains — ranging from six months to two years.

If the Polkadot ecosystem succeeds, it would mean an always-increasing amount of DOT and KSM tokens locked for the duration of the parachain slot. As a result, their total supply in circulation would deplete. That may somewhat explain why traders have suddenly turned bullish on DOT and KSM.

Mira Christanto, a researcher at crypto data analytics firm Messari, wrote in one of her posts from May that 65% of DOT supply has been staked. Meanwhile, 30% of DOT remains in circulation. Therefore, the upcoming Parachain auction would take more Polkadot tokens out of circulation. Christanto added:

“After the parachain launch, 40% of DOT could be bonded in parachains, hence reducing effective circulating supply to only 15%.”

Conversely, a lower turnout for Polkadot and Kusama’s Parachain auctions could leave DOT and KSM with a lower-than-expected demand, risking spot price corrections.

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Specialized workforce needed as crypto and blockchain courses enter colleges

Some universities and colleges are offering blockchain and crypto courses as the job market heats up, but will students be enticed to take them?

It shouldn’t come as a surprise that the need for candidates specializing in cryptocurrency and blockchain has become more apparent than ever before. This could be attributed to the fact that major companies are announcing job positions for candidates who are knowledgeable in alternative payments and emerging technologies.

For example, global software giant Apple has recently announced plans to recruit a new business development manager with alternative payment experience. Other leading companies, such as PayPal, Venmo and Tesla, have also been seeking out talent with blockchain and cryptocurrency expertise.

Colleges ramp up blockchain and crypto courses

Several colleges and universities are offering specialized courses to help students better understand the blockchain ecosystem. For example, director of X-Labs and Berkeley Blockchain Xcelerator Jocelyn Weber told Cointelegraph that there is an increasing demand for talent in this field, noting that the University of California, Berkeley is seeking to support the workforce of the future. As such, UC Berkeley will likely continue to expand course offerings in blockchain technology:

“UC Berkeley has been offering blockchain courses for over five years now on a variety of topics and in a variety of formats and lengths. The most recent one offered by Sutardja Center for Entrepreneurship was ‘Building with Blockchain for Web 3.0,’ in which Parity Technologies provided support for, along with other protocols.”

Weber explained that UC Berkeley’s Building with Blockchain for Web 3.0 course allowed students to learn the entrepreneurial and technical skills needed to launch their own blockchain startup and pitch it to judges on a demo day. Parity Technologies — the company behind Polkadot — helped design the course curriculum and has even advised students hoping to launch their own startup.

According to Weber, courses that include initiatives such as startup building are one of the ways UC Berkeley strives to bring the latest technologies and developments into its coursework. “This provides our students with the tools they need to enter the workforce with the most relevant knowledge,” she said.

In addition to UC Berkeley, the University of Wyoming is also becoming a blockchain hotspot for education. Steven Lupien, director of the Center for Blockchain and Digital Innovation at the University of Wyoming, told Cointelegraph that UW has introduced a blockchain minor into its curriculum:

“This is an interdisciplinary minor available to students in our College of Business, Engineering and Applied Sciences, Ag and Natural Resources, and School of Energy Resources. The University has also stood up the Center of Blockchain and Digital Innovation to assist the academic units with faculty training, course design and to work with the university’s outside stakeholders.”

Lupien is aware of the impact that digital assets are having on businesses. He noted that it’s the responsibility of educational leaders to prepare students to become productive members of the work community. “It’s important for them to understand this technology and its applied use cases and how it will impact their futures,” Lupien said.

It’s also noteworthy to point out that courses focused on financial literacy around cryptocurrency are being offered to students as well. Most recently, Electric Coin Company — the company behind the cryptocurrency Zcash (ZEC) — partnered with the Bronx Community College on a pilot program called “Crypto in Context,” which specializes in understanding cryptocurrency in the real world.

Andre Serrano, strategic partnerships at Electric Coin Company, told Cointelegraph that some of the most successful products in the industry are built and used by people who have already benefited from the current financial system. However, Serrano mentioned that “Crypto in Context” was created on the premise that others can learn from and build alongside the communities who have been most impacted by the failures of today’s status quo:

“Financial literacy is the knowledge that enables people to make responsible financial decisions — choices that affect our everyday lives. Our goal for this pilot program was to open the door for increased engagement in the Bronx and empower bi-directional learning in context. If we are not elevating their voices and compensating them for their feedback, we are failing.”

Serrano shared that “Crypto in Context” was open to all students and faculty at Bronx Community College, noting that 25 students have registered for the free virtual course. He also remarked that 70% of the program participants were female, coming from a range of academic backgrounds. This is notable, especially as the number of female crypto investors continues to grow.

In addition, Serrano mentioned that 80% of the students enrolled in the course downloaded a digital currency wallet. “Over the course of six weeks, students earned a total of 2.3 ZEC for completing tasks and optional assignments,” he said.

How important are these courses?

While blockchain and cryptocurrency courses are important for industry growth and adoption, it may be too soon to understand how these learnings will impact students looking for jobs in the field. For instance, candidates applying for positions at Apple or PayPal may come from traditional finance backgrounds yet have little knowledge of crypto simply because it’s so new.

Although this may be the case today, some industry innovators are hopeful that cryptocurrency and blockchain courses will help bring in better talent moving forward. Nilesh Khaitan, crypto lead at Venmo, told Cointelegraph that a lack of awareness and overall knowledge about crypto is the number one problem when it comes to the adoption of digital assets:

“People generally have no idea where to begin their research or knowledge. A course sculpts a curriculum and a journey towards becoming knowledgeable in the space.”

Khaitan further pointed out that there are a number of non-engineering role job opportunities in the crypto space, such as business development, community marketing and more. “Having a non-tech curriculum is equally important to drive the knowledge of crypto without diving into the deep technical aspects of it,” he commented.

Moreover, blockchain and cryptocurrency courses can be beneficial for those already familiar with the space. Guy Malone, a certified Bitcoin professional, told Cointelegraph that he recently completed the University of Nicosia’s Introduction to Digital Currencies course. According to Malone, although he understood the importance of Bitcoin (BTC), he wanted to take a deeper dive into crypto by taking courses:

“I know that by taking some of the courses, or obtaining one or more of the verifiable credentials that do exist to date, that I could perhaps provide a greater sense of confidence for interested parties.”

Will blockchain and crypto courses go mainstream?

Although useful, it may take some time for all major universities and colleges to start offering blockchain and cryptocurrency courses. For example, Lupien noted that limited resources are a challenge for universities looking to expand their curriculum. “As a nascent technology, there are few faculty that have both the academic credentials as well as the experience to effectively teach this technology — but that is changing rapidly,” Lupien said.

Moreover, students might question the relevance of these courses due to the fact that crypto and blockchain aren’t entirely mainstream. Piergiacomo Palmisani, vice president of the Blockchain Acceleration Foundation — a nonprofit organization helping universities incorporate blockchain curriculum — told Cointelegraph that for students, the challenge is to get them interested enough to choose a career in blockchain over a safe and well-paid job in tech, finance or any other field. “I believe that, as more success stories come out of the crypto industry, students will be more attracted to it,” he said.

As for the universities and colleges already offering blockchain and crypto courses, advancements seem to be underway. Weber shared that while UC Berkeley doesn’t have plans to offer students a degree in blockchain technology currently, there is a possibility moving forward: “I would never rule it out as a future possibility, especially as a minor offering.”

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Bitcoin Price Prediction: BTC/USD Swings Above $38,000

Bitcoin Price Prediction – June 3

The Bitcoin price restarts the uptrend after crossing above the critical barrier of $35,000 to touch the daily high of $39,489.

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

Key levels:

Resistance Levels: $47,000, $50,000, $53,000

Support Levels: $30,000, $27,000, $24,000

BTCUSD – Daily Chart

BTC/USD looks green today as the price hovers above the resistance level of $38,000 from the low of $37,184. However, a daily close above the $39,000 level can continue to increase the Bitcoin price to $42,000. At the moment, all eyes focus on the next hurdle at $40,000. However, traders should note that a consistent price increase would encourage more investors to join the market as bulls increase their positions.

Bitcoin Price Prediction: Price May Break Higher

At the time of writing, the Bitcoin price is moving marginally at its current price of $38,974 with two straight bullish days. According to the daily chart, this marks a meaningful climb from the opening price of $37,581 level, therefore, it is important to note that the current movement marks a bull-favoring break above the 9-day and moving average and could also climb above the 21-day moving average as well.

Nevertheless, if the market decides to fall below the 9-day moving average, the Bitcoin price could go below the lower boundary of the channel, and if that barrier fails to hold the sell-off, traders could see a serious decline towards the support levels of $30,000, $27,000, and $24,000 respectively. All the same, any further bullish movement above the 9-day and 21-day moving averages may reach the resistance level at $47,000, $50,000, and $53,000 as the Relative Strength Index (14) moves to cross above 50-level, suggesting more bullish signals into the market.

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

According to the 4-hour chart, the Bitcoin price is hovering above the 9-day and 21-day moving averages. However, intraday trading is still looking bullish as a cross above the upper boundary of the channel could hit the resistance level at $42,000 and above.

BTCUSD – 4 Hour Chart

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On the contrary, if the buyers failed to keep pushing the market upward, traders can expect a retreat at the $36,000 support level, and breaking this level may further push the price below the 9-day and 21-day moving averages to reach the support level of $36,500 and below. Meanwhile, the Relative Strength Index (14) is seen moving above 60-level to enter into the overbought region.

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NEO Price up 8% to $62, Next Stop $100? Where To Buy NEO

The NEO price has  recovered from its dip below $40 and looks set to advance further. NEO is one of the great survivors from the last mega upswing for crypto in 2017. NEO is a smart-contract platform based in China.

It is this Asian provenance that makes we think makes it particularly attractive. That may strike you as counter-intuitive given the supposed distaste of the Chinese regulatory authorities for all things crypto, but that is based on a common misreading of the situation.

Chinese regulatory concern about the Wild West nature of some corners of crypto, such as the ICOs of yesteryear or the ‘unproductive’ mining industry of today, is not to be confused with the government’s love of all things blockchain.

NEO – China’s Ethereum is worth a look

The Chinese government has identified blockchain as one of the key technologies for ‘Fourth Industrial Revolution’, with President XI talking about “seizing the opportunities” the technology presents for all areas of industry and commerce.

NEO as one of the premier blockchain projects in the country is well-positioned to be the blockchain of choice for multiple projects in the country. As such it is often referred to as ‘China’s Ethereum‘.

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China’s schizoid approach to crypto explains why on the one hand it can reiterate the banning of crypto in payments, but on the other Li Bo, the deputy governor of the People’s Bank of China, could say in April that crypto assets such as bitcoin could be used as investment tools and even alternative investments.

NEO strong on regulatory compliance and business focus

We might add here, that is is by design that NEO has a strong emphasis on regulatory compliance and is targeting business use for its technology. We think those are both smart moves, especially in the Chinese environment, but more widely too.

After those comments the NEO price went on a rocket ride. It has come back down to Earth since then, as the Elon Musk and China clampdown news flow triggered a deep correction in the frothy crypto market.

The price hit its all-time high (ATH) of $198 in January 2018 was priced at $62, up 8%, earlier today, but has slipped back a little. In May the price managed to touch $140.

Chances of the price reclaiming its all-time are good and stand in sharp contrast to the ATHs recorded by a host of other top 30 cryptos, meaning the coin has an excellent risk-reward profile at current price levels.

For NEO to reclaim its ATH it will have to rise by $138, which would represent a 223% gain on the current price (see the 1-month chart above).

In the meantime, our near-term target eyes $100.

We rate NEO a strong buy at these prices.

Where to buy NEO

You can Buy NEO on all good crypto exchanges and a number of leading investment platforms.

eToro – check out this fast-growing use-friendly platform

Top global investment platform eToro with more than 15 million users around the world, is a good place for beginners and experts alike to buy NEO. The site charges no fees on trades, but you do have to pay the spread between the buy and sell price.

The platform is excellent for education and by way of competitive advantage, is the leader in social trading. Social trading is the system where you can copy other traders on the platform. eToro has also created CopyPortfolio, some of which target cryptoassets, and you can invest these funds, which are similar to index funds built around particular investment themes.

Kraken – a solid pick

Kraken is a US-based exchange that has been around for a while. It was the first exchange in the US to get a bank charter and should be considered one of the top-tier crypto exchanges. Kraken supports 56 crypto markets. Fees vary between 0% to 0.26% per trade.

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Bitcoin Could Drop to $28k if it Does Not Reclaim the 200-day MA

  • Bitcoin is currently knocking at the $40k resistance area after breaking out of a symmetrical triangle
  • Bitcoin is yet to reclaim the 200-day moving average as support
  • A failure to retest this crucial MA could result in a dip to $28k
  • Bitcoin is at an inflection point with equal odds of a breakout higher or a breakdown to lower levels

In the last few hours, Bitcoin has bounced off the $37,100 price area to post a local high of $39,476, and a few dollars shy of the $40k resistance level. With this move, Bitcoin has managed to break out of a symmetrical triangle that had formed as a result of the last few weeks of selling activity that resulted in a local bottom at $30k.

Bitcoin Needs to Retest the 200-day MA or Risk Falling to $28k

In a recent Twitter commentary, Bitcoin and crypto analyst, MagicPoopCannon, pointed out that a breakout from the aforementioned symmetrical triangle could ultimately lead to BTC retesting the crucial 200-day moving average that has been elusive for the last three weeks.

He also cautioned that a failure by BTC to regain this moving average will result in a breakdown of the symmetrical triangle, thus sending Bitcoin to $28k.

Magic’s analysis of Bitcoin can be found below together with a chart he shared to demonstrate the current BTC symmetrical triangle.

BTCis testing the top of a symmetrical triangle. A breakout should produce a rally to retest the 200 day moving average. A failure, will likely result in a breakdown of the triangle, sending BTC towards the 61.8% retrace, just below $28,000.

Bitcoin is at an Inflection Point – Aksel Kibar

In a similar analysis of Bitcoin, veteran trader and chartist, Aksel Kibar, also cautioned that the longer Bitcoin stayed within the current symmetrical triangle, the higher the chances of a breakdown to lower levels.

According to Mr. Kibar, Bitcoin is currently at an inflection point with a rebound or breakdown having equal odds at happening. An excerpt of his analysis can be found below.

Both the average and the latest consolidation is taking place around the same area. I call these type of technical levels/areas; inflection points. Rebound or a breakdown around these levels can be conclusive.

Another point: The longer the price remains inside the latest triangle consolidation the higher the chances the move out of it will become a failure or not follow the guidelines of a symmetrical triangle.

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