CoinChapter https://coinchapter.com/ Your #1 Source for Cryptocurrency. Get the Latest Crypto News and Current Prices. Sat, 03 Dec 2022 02:10:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://coinchapter.com/wp-content/uploads/2022/04/cropped-favicon-310x310-1-32x32.png CoinChapter https://coinchapter.com/ 32 32 ApeCoin to rally fizzle out before staking goes live? https://coinchapter.com/apecoin-rally-fizzle-out-before-staking-goes-live/ https://coinchapter.com/apecoin-rally-fizzle-out-before-staking-goes-live/#respond Sat, 03 Dec 2022 02:10:38 +0000 https://coinchapter.com/?p=246521 Lucknow(CoinChapter): ApeCoin’s price soared last week following a risk-on broader market and positive sentiment owing to the launch of staking capabilities. However, the token’s price might face some resistance to move higher this week amid weakening fundamentals. Since November 25, APE has risen by as much as 41%, notching a near 1-month high at $4.48. […]

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ApeCoin to rally fizzle out before staking goes live?
Image Credit: BAYC

Lucknow(CoinChapter): ApeCoin’s price soared last week following a risk-on broader market and positive sentiment owing to the launch of staking capabilities. However, the token’s price might face some resistance to move higher this week amid weakening fundamentals.

APE/USD Daily Price Chart
Apecoin(APE/USD) Daily Price Chart, Source: TradingView

Since November 25, APE has risen by as much as 41%, notching a near 1-month high at $4.48. The recent spree of gains has made APE one of the best-performing crypto’s since the FTX debacle.

Although a recovering Bitcoin has helped underprop crypto prices, APE’s success has primarily revolved around the official launch of staking capabilities.

Back in November, blockchain developers Horizen Labs said that it’s working on a staking system for ApeCoin holders. It announced that apestake.io would launch on December 5 while reward accrual will begin on December 12.

ape staking technical series
Source: https://twitter.com/HorizenLabs/status/1595575458891907074

In crypto, staking allows holders to lock their tokens in a smart contract and earn passive income. Over the years, staking has become a popular means of investment for those looking at stable long-term returns compared to extreme price changes in the crypto market.

As per Horizen Labs, there are four different staking pools that will allow participants to get returns on their staked assets. Each pool contains a different limit on the permissible maximum stake.

APE fundamentals point to inorganic growth

APE Large Holders NetFlow
APE Large Holders NetFlow, Source: IntoTheBlock

Leading up to its staking launch, large holders (those with more than 1% of its circulating supply) began to add more APE tokens to their portfolio. This was evident by a spike in large holders NetFlow between November 25-30, which rose to its highest level this year.

However, a subsequent drop in this ratio indicated that large holders had since cashed out their gains. This coincided with a minor drop in price as well.

APE Daily Active Addresses
APE Daily Active Addresses, Source: IntoTheBlock

Elsewhere, the number of daily active addresses dipped to 1.41K from 1.7K in the past week. The decline showed that fewer users were actively transferring tokens on the blockchain, indicating a reduction in demand.

Technical Analysis

APE/USD Daily Price Chart
APE/USD Daily Price Chart, Source: TradingView

From a technical perspective, there were signs that APE’s rally could be nearing its end. The daily RSI closed in on a stiff resistance at 60. The last four times APE’s daily RSI has touched this level, a price decline has followed.

Furthermore, the daily 50 Simple Moving Average looked to deny a breakout, suggesting that bearishness had increased over the past few days.

If a downward move follows, APE would be at the risk of a 24-35% drawdown to $3-$2.6, a region where bulls have known to lend assistance to ailing prices.

On the flip side, should Bitcoin trend upwards, APE’s rally could extend on the charts. The best-case scenario would be an 33% surge to its daily 200 Simple Moving Average.

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Will BudBlockz (BLUNT) Grow as Fast as Polygon (MATIC) In 2023? https://coinchapter.com/will-budblockz-blunt-grow-as-fast-as-polygon-matic-in-2023/ https://coinchapter.com/will-budblockz-blunt-grow-as-fast-as-polygon-matic-in-2023/#respond Fri, 02 Dec 2022 17:00:57 +0000 https://coinchapter.com/?p=246360 During a crypto project’s early days, plenty of factors may influence its growth. In the case of projects like Polygon (MATIC), factors like surging transaction loads on the Ethereum blockchain encouraged growth as people sought scalability for their apps.  But what about budding projects like BudBlockz? Are there any contextual similarities that could see BudBlockz’s […]

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Will BudBlockz (BLUNT) Grow as Fast as Polygon (MATIC) In 2023?

During a crypto project’s early days, plenty of factors may influence its growth. In the case of projects like Polygon (MATIC), factors like surging transaction loads on the Ethereum blockchain encouraged growth as people sought scalability for their apps. 

But what about budding projects like BudBlockz? Are there any contextual similarities that could see BudBlockz’s BLUNT token grow as fast as Polygon in 2023? Let’s discuss the possible trajectory for BLUNT:

Accessibility

One of the major growth drivers for any token is the ability to buy it on a CEX or DEX. If a token is listed on a popular token exchange platform it gains exposure and people with money can easily get their hands on it. That said, BudBlockz will soon launch BLUNT on Uniswap, the most used decentralized exchange globally, bringing massive liquidity and spurring growth. 

BudBlockz also has an adequate amount of tokens in a liquidity wallet, just in case there’s another imminent exchange listing. The quicker the token can go from a thinly-traded one to having more trading volume, the broader the audience segment that will find it attractive. 

Scarcity

While people need to be able to buy a project’s tokens, there should be a limit to how many tokens can be instantly dumped in a single move or a few quick consecutive trades. In that regard, BudBlockz has a prolonged lock-up period for tokens allocated to the team, partners and advisors. 

This encourages commitment to the long-term development of functionality within the ecosystem, thereby increasing the percentage of token purchases fuelled by acknowledged intrinsic value instead of pure speculation. 

Diverse income generators

The marijuana trade alone offers excellent utility for the BLUNT token as a medium of exchange, especially since there are already several weed-friendly regions across the U.S. and Europe. As more customers in the Cannabis industry start using the token, the price can rise in response to demand. And considering the occasional discounts and promotions associated with using the BLUNT token to purchase Cannabis products, this token could be very sought-after in 2023. 

In addition to facilitating the Cannabis trade, the BudBlockz ecosystem also intersects with NFTs and play-to-earn gaming. These additional activities encourage BLUNT token holders to stake their tokens and earn rewards, which also contributes to scarcity. And as this activity mushrooms, more people want to buy the tokens and stake them, increasing demand and boosting growth. 

The BLUNT token is also a gateway into fractional ownership of BudBlockz farms, dispensaries and other products. This gives it an additional layer of profitability outside of on-chain activity. It is an attractive quality for traditional investors conversant with how real-world ventures like farms and retail outlets work. 

Learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/ 

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

Use the promo code “CYBERWEEK” to receive a 20% bonus on your $BLUNT purchase before 5 December 2022.

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What Happens to US Energy Stocks After Sanctions on Russian Oil? https://coinchapter.com/what-happens-us-energy-stocks/ https://coinchapter.com/what-happens-us-energy-stocks/#respond Fri, 02 Dec 2022 15:47:52 +0000 https://coinchapter.com/?p=246453 It is an interesting period for the US economy as oil sanctions on Russia are days away from going into effect. Here's how a potential change in oil prices could affect inflation, energy stocks, and even crypto.

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What Happens to US Energy Stocks After Sanctions on Russian Oil?
What Happens to US Energy Stocks After Sanctions on Russian Oil?

NEW DELHI (CoinChapter.com) — It is an interesting period for the US economy as oil sanctions on Russia are days away from going into effect. Here’s how a potential change in oil prices could affect inflation, energy stocks, and even crypto.

EU Applies Sanctions on Russian Oil

In April, 27 countries in the European Union announced oil sanctions on Russia to disrupt its invasion of Ukraine.

However, the parties are yet to come to a final agreement. Moreover, an outright ban would damage energy markets because of high crude oil prices. This led G-7 to consider setting a cap on the amount it would pay for Russian oil.

The final cap is still being deliberated but could be decided before the sanctions go into effect on Dec 5.

In response, Russia has remained nonchalant. Kremlin officials have indicated that the country will choose not to sell oil to those countries that have implemented a price cap. The stance comes amidst hopes that India and China will fill in the gap, both of which remain the largest consumers of Russian oil.

As per the International Energy Agency, Russia is the world’s largest exporter of oil to global markets and the second largest crude oil exporter behind Saudi Arabia.

Energy Stocks Up

Following Russia’s attack on Ukraine in Feb 2022, fears of a decrease in global oil supply have sent prices soaring to new peaks. Between February-May, crude oil futures climbed by nearly 40% to $133.4 – its highest-ever value.

Even though prices corrected over the next few months, crude oil futures were still up by 6% since the beginning of the year.

CRUDEOIL/USD Monthly Price Chart, Source: TradingView

Energy stocks, which share a positive correlation with oil prices, have benefitted from this increase. As a result, by the end of Q3 2022, energy was the best-performing sector on the S&P 500, offering returns of 30.7%. In comparison, the S&P 500 was down 23.9% for the year.

Analysts project that a few energy stocks are even instead of more than 100% gains in the coming stocks, an expected surge that is uncommon in the stock market.

Correction Incoming?

While the long-term prospects for energy stocks look healthy, the near-term is slightly cloudy. Even though sanctions on Russian oil would increase crude oil prices, many suspect that the energy sector would not reflect these gains.

CRUDEOIL/USD Daily Price Chart Vs. ENERGY/USD Daily Price Chart, Source: TradingView

Research firm SeekingAlpha noted that energy stocks had recently outperformed the oil price itself, which is the underlying commodity. However, it added that such divergences are usually short-lived, following which a correction is observed. Excerpts:

“Should this relationship continue to hold, then there is clear potential for a bit of catch-up or catch-down type move in the coming months… my base case is that these two probably meet somewhere in the middle whereby the stocks correct and the commodity gains”.

Impacts on inflation and personal spending

Meanwhile, expectations of higher oil prices amid Russian sanctions might affect inflation and decrease consumer spending.

Since oil is a key ingredient in petrochemicals used to make plastic, higher oil prices would increase the prices of many products made with plastic. A similar effect would also lead to higher transportation costs. As a result, consumer spending would likely decline.

In March 2022, Federal Reserve Chair Jerome Powell outlined how higher oil prices impact the economy. He said that every $10 per barrel increase in the price of crude oil raises inflation by 0.2% and sets back economic growth by 0.1%.

Notably, the consumer price index, which tracks inflation, jumped by 7.7% year-on-year in October. Even though this was the smallest percentage increase in 12 months, the figure is still at its highest since the early 1980s.

Crypto remains uncertain

While Bitcoin does not share a direct correlation with oil prices, it’s difficult to judge how variations in crude oil prices will affect crypto investors.

However, judging by returns offered by energy stocks and those by Bitcoin, investors may be tempted to cash out of crypto and prioritize their energy investments. Such a development would only add more clout to the fate of crypto, which many say hangs by a thread.

On Dec 2, Bitcoin traded slightly below the $17K mark, down by 0.8% over the last 24 hours. Its year-to-date loss sits around 63.4%, according to MarketWatch.

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Hooked Protocol (HOOK) launched on Binance with a 2,800% rally https://coinchapter.com/hooked-protocol-hook-launched-binance/ https://coinchapter.com/hooked-protocol-hook-launched-binance/#respond Fri, 02 Dec 2022 12:05:00 +0000 https://coinchapter.com/?p=246454 YEREVAN (CoinChapter.com) – Hooked Protocol, a new addition to the Binance Launchpad, saw its token HOOK price rally 2,800% in 24 hours and stood at $2.68 ahead of the London session on Dec 2. According to Binance charts, the digital asset jumped from $0.08 to nearly $3.0 within an hour after opening on Dec 1. […]

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Hooked Protocol (HOOK) launched on Binance with a 2,800% rally

YEREVAN (CoinChapter.com) – Hooked Protocol, a new addition to the Binance Launchpad, saw its token HOOK price rally 2,800% in 24 hours and stood at $2.68 ahead of the London session on Dec 2. According to Binance charts, the digital asset jumped from $0.08 to nearly $3.0 within an hour after opening on Dec 1.

Hooked Protocol (HOOK) price action on Dec 2.
Hooked Protocol (HOOK) price action on Dec 2. Source: Binance.com

As of Dec 2, HOOK’s market cap reached $133 million, ensuring the token’s foray into the top 250 tokens, ranking #220. The daily trading volume stood at $586 million.

However, the chart above clearly shows a sideways consolidation after the spike. While an increase in buying pressure is possible, it is doubtful that HOOK can pull off another such rally.

In detail, Hooked Protocol was the 29th project on Binance Launchpad. “Binance has completed the subscription format Launchpad for Hooked Protocol, and the final token allocation results are now showing on the Hooked Protocol Launchpad Page,” announced Binance on Dec 1.

Also read: DeFi Protocol Ankr Loses $5M to Hack — Many Tokens Affected.

The project’s Launchpad start

According to the exchange, a total of approximately 115 thousand participants committed roughly 9 million BNB during the subscription period with a mild oversubscription of 1,066x.

3 participants reached the 150,000 HOOK hard cap, resulting in the participants’ allocation being passed down to the remaining users. For further information on how this is calculated, refer to a detailed guide here.

detailed Binance.

Depending on the number of BNB tokens committed by users, Binance allocated a certain amount of HOOK, with the deduction of fees.

The corresponding BNB tokens will be deducted from your already-locked BNB balance within 60 minutes of this announcement. Once deducted, your HOOK and remaining BNB tokens will both be transferred to your spot wallet.

read the announcement.

What is Hooked Protocol all about?

According to the website, Hooked Protocol is “building the on-ramp layer for massive Web3 adoption.” It provides “tailored Learn & Earn products and onboarding infrastructures for users & businesses to enter the new world of web3.”

Furthermore, the project will release the HOOK token gradually within a month. Thus, the total token supply of 500 million HOOK will be out by Dec 29, according to the website’s schedule.

HOOK token release schedule.
HOOK token release schedule. Source: hooked.io

In H1 2023, the project expects “more diverse gamified learning experiences.” Additionally, Hooked expects “collaboration and partnership with more Web3 projects, as well as wallet solution integration.”

According to CoinMarketCap, HOOK is currently available on several exchanges other than Binance: CoinW, BingX, MEXC, and Bitrue.

Click here to keep up with the ever-changing crypto market and never miss the scoop!

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DeFi Protocol Ankr Loses $5M to Hack — Many Tokens Affected https://coinchapter.com/defi-protocol-ankr-loses-over-5-million/ https://coinchapter.com/defi-protocol-ankr-loses-over-5-million/#respond Fri, 02 Dec 2022 11:21:16 +0000 https://coinchapter.com/?p=246485 According to blockchain security research firm PeckShield, a bug in Ankr's code was behind the exploit. It allegedly allowed users to mint an unlimited amount of tokens arbitrarily. As a result, the hacker minted six quadrillions of the Ankr Reward Bearing Staked BNB (aBNBc) token.

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DeFi Protocol Ankr Loses $5M to Hack — Many Tokens Affected
DeFi Protocol Ankr Loses $5M to Hack — Many Tokens Affected

YEREVAN (CoinChapter.com) — Decentralized finance (DeFi) protocol Ankr is the latest victim of a massive exploit. According to reports, attackers drained the Binance (BNB) Chain-based platform of $5 million. 

Ankr is a decentralized Web3 infrastructure provider that connects developers, decentralized applications, and stakers on several blockchains. It allows users to set up and run nodes remotely and provides various staking options.

Users can also mint ANKR, the platform’s native token, by contributing their idle computing power to the network.

According to blockchain security research firm PeckShield, a bug in Ankr’s code was behind the exploit. It allegedly allowed users to mint an unlimited amount of tokens arbitrarily. As a result, the hacker minted six quadrillions of the Ankr Reward Bearing Staked BNB (aBNBc) token.

Blockchain security firm PeckShield alerted about the hack on Binance chain-based DeFi Protocol Ankr
Blockchain security firm PeckShield alerted about the hack DeFi Protocol Ankr

The attacker then used the decentralized cryptocurrency tumbler Tornado Cash to cover his tracks. However, some users pointed out that the hacker swapped the stolen BNB tokens for 5 million USDC.

Ankr Protocol, Binance Confirm the Hack

After news of the possible exploit spread, Ankr protocol took to Twitter to confirm the hack. According to the platform, they had already contacted exchanges to stop the trade of the compromised tokens. 

“Our aBNB token has been exploited… We have been in touch with the DEXes and told them to block trading. We will reissue tokens in the future after we assess the situation,” 

Ankr protocol wrote
Ankr protocol confirmed the hack on its protocol after exploiters run away with $5 million
BNB chain-based DeFi protocol Ank confirmed the hack on its protocol

The platform also promised that they are “currently drafting a plan and are committed to compensating affected users.” 

Largest cryptocurrency exchange Binance, on whose platform the Ankr protocol functions, also confirmed the hack. However, it also clarified that all funds on the exchange remain safe.

“We are aware of the attack targeting ankr’s aBNBc token. Our team is engaged with the relevant parties and BNBCHAIN to investigate further. This is not an attack against Binance, and your funds are SAFU on our exchange,” 

Binance informed
 Binance CEO Changpeng Zhao also confirmed DeFi Protocol Ankr hack
Binance CEO Changpeng Zhao also confirmed the hack on DeFi Protocol Ankr

The crypto exchange’s CEO Changpeng Zhao also posted about the exploit. According to him, the hacker used the stolen aBNBc to borrow $16 million of the HAY stablecoin. He then converted this stablecoin into BUSD.

Recommended: Another DeFi Hack! Solana’s Solend Suffers $1.26M exploit

aBNBc, HAY, and BNB Tokens Tank

According to data available on CoinMarketCap, the exploited aBNBc token is on a freefall. It has plunged over 99.5%, crashing from around $311 per token before the exploit to $1.5 at the time of writing. 

aBNBc, the exploited token in the  Binance chain-based  Ankr protocol hack, tanked over 99%
aBNBc, the exploited token in the Ankr protocol hack, tanked over 99%. Source: CoinMarketCap

Meanwhile, the little-known BNB-back HAY stablecoin has also lost its peg. As a result, the development fell to as low as 20 cents per token. However, it has since recovered and is trading at $0.65 per token. 

BNB, the native token of Binance, also suffered slight losses. As the CoinMarketCap charts reveal, it fell nearly 5% due to the hack, going from $300 to $286. The reassurance from Binance, however, seems to have worked, preventing a larger drop in its price.

As CoinChapter earlier reported, hacks on DeFi protocols have become commonplace. With the crypto industry facing backlash over Sam Bankman-Fried’s FTX fiasco, hacks like this further harm the growing sector’s reputation. 

Worried about crypto hacks? Click here to read our extensive report on how to keep your tokens safe from hackers.

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Here’s Why Oryen Network Is Better Than Compound and Curve https://coinchapter.com/heres-why-oryen-network-is-better-than-compound-and-curve/ https://coinchapter.com/heres-why-oryen-network-is-better-than-compound-and-curve/#respond Fri, 02 Dec 2022 09:00:38 +0000 https://coinchapter.com/?p=246368 The DeFi industry is garnering a lot of traction from investors. With the bear market in full swing, it’s hard to find a project that can be trusted and will pay its users an interest rate that’s worth investing in. Oryen Network is one of the most promising DeFi projects in the current bear market, […]

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Here's Why Oryen Network Is Better Than Compound and Curve

The DeFi industry is garnering a lot of traction from investors. With the bear market in full swing, it’s hard to find a project that can be trusted and will pay its users an interest rate that’s worth investing in.

Oryen Network is one of the most promising DeFi projects in the current bear market, and it’s on track to surpass Compound and Curve in terms of the user base. Its rise in the market is captured by crypto analyst Steven Clarke in his recent video review.

With all of this happening in the crypto space right now, it’s clear that there is much more than meets the eye when building one of the best new crypto coins for 2022.

What is the Oryen Network?

Oryen is a staking platform changing investors’ perceptions of the DeFi industry. One outstanding feature of the staking platform is its high fixed APY that provides an easy and safe way for investors to earn passive income.

Oryen’s performance in the market is something out of the ordinary. Currently, it is at its sixth presale, with prices surging up to 250% compared to Compound (COMP) and Curve (CRV).

The continued success of the Oryen network during its presale phases is a testimony of the demand in the market for such a trajectory by investors. Moreover, Oryen is backed by a strong development team plus a wide set of features to set it apart from its competitors.

For example, Oryen uses an innovative Oryen Autostaking Technic (OAT) for its holders’ easy and secure staking. In addition, holders can buy-hold-earn after purchasing their tokens. Moreover, holders earn rebase rewards that directly appear in their wallets.

Compound (COMP)

Compound (COMP) is an Ethereum-based decentralized lending platform that allows users to supply and borrow Ethereum tokens at different interest rates.

It features a program that matches the lenders and receivers with an algorithm, thus eliminating the need for a middleman. A common feature of the platform is liquidity mining, which rewards users for lending their cryptocurrency.

Curve (CRV)

Curve is a place for investors who are looking to trade with stablecoins. The platform uses an automated market model that focuses specifically on stablecoins. Moreover, it allows for liquidity for providers to earn swap fees. This is without risking an imminent loss.

Unfortunately, an incident in August saw the platform lose up to $500,000 from its platform. It is an incident that deterred many investors from associating with the platform. Thus, its prices plunged in the market.

Final Thoughts

Overall, Oryen Network is a promising platform for investment and has investors flocking to get as much ORY as possible. So what can you do? If you want to invest in such a project, hurry up and make sure you join the 6th presale stage!

Learn more here:

Join Presale: https://presale.oryennetwork.io/register

Website: https://oryennetwork.io/

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Axie Infinity (AXS) Prices Down, Orbeon Protocol (ORBN) Set for 6000% Surge In Presale https://coinchapter.com/axie-infinity-axs-prices-down-orbeon-protocol-orbn-set-for-6000-surge-in-presale/ https://coinchapter.com/axie-infinity-axs-prices-down-orbeon-protocol-orbn-set-for-6000-surge-in-presale/#respond Fri, 02 Dec 2022 07:00:40 +0000 https://coinchapter.com/?p=246314 The cryptocurrency market tends to rise and fall as one, but this isn’t always the case. Gaming and metaverse tokens have been obliterated over the past year, while some projects have done very well coming out of presale. In this article, we’ll go over the fate of Axie Infinity (AXS) and then discuss Orbeon Protocol […]

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Axie Infinity (AXS) Prices Down, Orbeon Protocol (ORBN) Set for 6000% Surge In Presale

The cryptocurrency market tends to rise and fall as one, but this isn’t always the case. Gaming and metaverse tokens have been obliterated over the past year, while some projects have done very well coming out of presale. In this article, we’ll go over the fate of Axie Infinity (AXS) and then discuss Orbeon Protocol (ORBN), which is still in its presale phase and is expected to 60x or more in the weeks to come

>>BUY ORBEON TOKENS HERE<<

Axie Infinity (AXS)

Axie Infinity is an online video game that uses non-fungible tokens or NFTs. The game was developed by Vietnamese studio Sky Mavis, known for its in-game economy, which uses Ethereum-based cryptocurrencies. In Axie Infinity, players collect and mint NFTs which represent axolotl-inspired digital pets known as Axies. 

With an all-time high of $165 in November 2021, Axie Infinity has seen over 95% of its value washed away. Axie Infinity is still the #59 project by market cap, and Axie Infinity might recover one day, but it’s definitely been a rough year for AXS. These days, Axie Infinity has a long way to go to recover its lost value. 

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN) 

Orbeon Protocol, on the other hand, is shaking up the crowdfunding industry with its ability to mint the equity of promising companies as NFTs (Non-Fungible Tokens). These NFTs are fractionalized, which can then be bought and traded by everyday investors for as little as $1. This revolutionary approach removes the gatekeepers that typically keep people out of the venture capital industry. Now, even the smallest investor can be a venture capitalist and benefit from the same percentage of gains. 

Investors now have a marketplace where they can find vetted, real-world businesses and crypto projects that are looking to raise capital. Orbeon Protocol also stands out with its “Fill or Kill” mechanism. This mechanism automatically returns NFTs to investors if a round of fundraising fails, removing some of the risks from the process. Too many platforms shrug their shoulders when fundraising fails, but not Orbeon Protocol. The feature is built right into the smart contract and will not be circumvented. 

The ORBN token fuels the Orbeon Ecosystem (wallet, exchange, metaverse, and swap). ORBN holders enjoy perks that include governance rights, access to funding rounds, and discounts on trading fees. 

Orbeon Protocol’s ORBN tokens can be bought at $0.014 at the time of this writing but that price might not last long as experts anticipate a 6000% overall increase in price by the end of the presale phase. This potential 60x would take Orbeon Protocol (ORBN) in the opposite direction of Axie Infinity (AXS), if the last year is any indication. Still, a high tide raises all ships, and it’s possible that both projects can do well in 2023. 

 Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register 

Telegram: https://t.me/OrbeonProtocol 

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ETH/BTC: Ethereum Price Aims Fresh Surge Vs Bitcoin https://coinchapter.com/eth-btc-ethereum-price-aims-fresh-surge/ https://coinchapter.com/eth-btc-ethereum-price-aims-fresh-surge/#respond Fri, 02 Dec 2022 06:21:23 +0000 https://coinchapter.com/?p=246435 New Delhi(Coinchapter.com): Ethereum’s ETH price is rising above the 0.0740BTC zone. There could be a strong surge if the bulls push it above the 0.0755BTC resistance. Ethereum (ETH) Price Bullish Vs Bitcoin In the last ethereum vs bitcoin analysis, we discussed a possible bullish breakout. ETH/BTC remained supported above the 0.0680 zone and slowly moved […]

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Ethereum (ETH) Price Bullish Vs Bitcoin
ETH/BTC Ethereum (ETH) Price Bullish Vs Bitcoin | Photo by Zoltan Tasi on Unsplash

New Delhi(Coinchapter.com): Ethereum’s ETH price is rising above the 0.0740BTC zone. There could be a strong surge if the bulls push it above the 0.0755BTC resistance.

Ethereum (ETH) Price Bullish Vs Bitcoin

In the last ethereum vs bitcoin analysis, we discussed a possible bullish breakout. ETH/BTC remained supported above the 0.0680 zone and slowly moved higher.

However, the key upside break is still in progress. After trading as low as 0.0658, the price started a fresh increase. There was a clear move above 0.070 and 0.072 resistance levels. The bulls even pumped the price above the 61.8% Fib retracement level of the key decline from the 0.0792 swing high to 0.0658 low.

Etheruem’s price daily chart
Etheruem’s price daily chart | Source: ETH/BTC on TradingView.com

The price is now trading comfortably above the 0.0732 resistance zone and the 50-day simple moving average (blue). On the upside, ether seems to be facing resistance near the 0.0755 level.

There is also a major bearish trend line with resistance near 0.0755BTC on the daily chart. The trend line is close to the 76.4% Fib retracement level of the key decline from the 0.0792 swing high to 0.0658 low. A clear upside break above the trend line resistance and 0.0760 may perhaps start a steady increase.

In the stated case, the price may perhaps rise towards the 0.0792 high. Any more gains might open the doors for a move towards the 0.0850 zone or even 0.0880.

Ethereum Dips Limited?

If there is no upside break above 0.0755BTC, ether price might correct lower. On the downside, there is a strong support forming near 0.0725 and the 50-day simple moving average (blue).

The main support seems to be forming near the 0.0700 level and a connecting bullish trend line. If there is a downside break below the 0.0700 support, the price might start a bearish wave. The next major support could be near the 0.0655 level, below which the price may perhaps decline towards the 0.0600 support area.

Overall, ether price is showing positive signs above the 0.072 support zone versus bitcoin. If there is a clear upside break above the 0.0755 resistance, ETH could start a fresh surge. Conversely, there might be a fresh decline towards the 0.0700 support zone or even 0.0655.

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With the UK economy gone to the dogs, people in the country are eating pet food to survive https://coinchapter.com/uk-economy-crisis-people-eat-pet-food-survive/ https://coinchapter.com/uk-economy-crisis-people-eat-pet-food-survive/#respond Thu, 01 Dec 2022 23:26:20 +0000 https://coinchapter.com/?p=246387 The UK economy is in shambles. Several people are eating pet food to fight the growing inflation in the country.

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The UK economy is in shambles. Several people are eating pet food to fight the growing inflation in the country.
Some citizens in Wales are eating pet food to fight the growing food prices. Photo by Nick Fewings

YEREVAN (CoinChapter.com) — People in the United Kingdom have it going hard for them thanks to the crashing economy. The growing inflation has forced many to revisit their living habits. However, some are forced to go to extremes. According to a recent BBC report, residents of Cardiff are eating pet food in an attempt to live on a tight budget.

Cardiff is the capital of Wales and the largest city in the country. Besides eating pet food, its residents have resorted to heating their meals on candles. 

The national broadcaster of the United Kingdom quoted a community worker to highlight the incident. 

“I’m still shocked by the fact that we have people who are eating pet food, people who are trying to heat their food on a candle or a radiator. These are shocking kind of stories that are the truth, we know from trusted people that have ended up sharing this in tears with us – it shouldn’t happen,”  

Mark Steed, who runs a community food project in Trowbridge, Cardiff’s Stowbridge area, told the BBC.

People in Wales (as in many parts of the UK) do not make enough to sustain themselves. This is despite them putting in extra hours. 

According to the Department for Work and Pensions (DWP), 34% of children in Wales live in poverty. Among the four countries of the UK, Wales has the highest number of children in relative income poverty.

In the UK, people fall in the relative poverty category if they are living in a household with income below 60% of the median household income in that year. 

As a result of the crisis, many citizens are abandoning their pets or looking for alternative housing for them. With hardly enough to maintain themselves, looking after pets has become a luxury.

Recommended: Brits believe Brexit was a mistake; UK economy agrees

UK food price inflation hits new record high. UK economy in shambles

Food price inflation in the United Kingdom reached a new record high of 12.4% in November, up from 11.6% in the previous month. Prices of everyday use such as eggs, dairy products, and coffee have gone over the roof.

That is the biggest inflation rate in the food category since records began in 2005. Overall shop price inflation rose to 7.4% in November from 6.6% in October, according to the British Retail Consortium (BRC).

Data from the Office for National Statistics indicate food price inflation in the year to October hit 16.2%, up from 14.5% in September.

Food inflation in the UK is above 16%, according to reports
Food inflation in the UK is above 16%, according to reports

As CoinChapter earlier reported, several UK Citizens have turned to food banks to beat the increasing living costs. 

As per a May 2022 survey by the Independent Food Aid Network (IFAN), 93% of organizations representing food banks in the UK reported an increase in the need for their services since the start of 2022.

Amid growing inflation, independent food banks have seen increases in the need for their services since the Autumn of 2021. UK economy in shambles
Amid growing inflation, independent food banks have seen increases in the need for their services since the Autumn of 2021: IFAN

A recent report by the Trades Union Congress (TUC) suggests stagnated wages and growing inflation in the UK will result in an income loss of 6.2% over the next two years. This averages to £1,750 (about $2,150), the tightest contraction among all G7 countries.

Is Brexit behind people in the UK eating pet food?

According to researchers at the London School of Economics, one can trace the financial voes of the UK to Brexit. 

The country’s exit from the European Union (EU) has added almost £6 billion (over $7.3 billion) to consumers’ food bills, increasing them by an average of £210 ($260) in the two years to the end of 2021. 

The over 6% increase in the prices of products has hurt the poorest in the country.

“In leaving the EU, the UK swapped a deep trade relationship with few impediments to trade for one where a wide range of checks, forms and steps are required before goods can cross the border. Firms faced higher costs and passed most of these onto consumers,”  

 Bristol University professor and study co-author Richard Davies said in a note.
Is Brexit behind people in the UK eating pet food and economy crisis?
Many blame Brexit for the current condition of the UK economy

Bank of England (BOE) chief economist Huw Pill also shared similar sentiments. According to him, Brexit will cost the UK 3% in permanently lost national output within 15 years. 

While addressing a panel organized by the Institute of Chartered Accountants in England and Wales, Pill argued that leaving the EU caused job shortages and strengthened pricing pressure among firms. This, in turn, has weakened UK’s economy. 

According to reports, a third of single parents in the UK are even skipping meals to be able to sustain themselves. As one UK-based family researcher told CoinChapter, “People are chosing between eating and heating”, thanks to inflation. 

With the Financial crisis in the UK deepening and no end to the Russian invasion of Ukraine in sight, one should expect more worrying reports from the country. 

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BlackRock Lost 24M in FTX Collapse: (NYSE:BLK) Stock Crashes 21% https://coinchapter.com/blackrock-lost-24m-ftx-collapse/ https://coinchapter.com/blackrock-lost-24m-ftx-collapse/#respond Thu, 01 Dec 2022 23:00:56 +0000 https://coinchapter.com/?p=246328 Lucknow(Coinchapter.com): The FTX meltdown has not even spared world’s largest asset manager, BlackRock. Speaking to New York Times, Larry Fink, CEO of BlackRock, said that the firm lost $24 Million once the FTX platform collapsed. Although Fink confirmed that Blackrock did its due diligence before investing in FTX, he also claimed that FTX might have […]

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BlackRock Lost 24M in FTX Collapse: (NYSE:BLK) Stock Crashes 21%
BlackRock (NYSE:BLK) Stock Crashes 21% amid 24M lost in FTX Collapse:

Lucknow(Coinchapter.com): The FTX meltdown has not even spared world’s largest asset manager, BlackRock.

Blackrock lost $24M due to FTX
Source: https://twitter.com/WhaleChart/status/1597975529755652096

Speaking to New York Times, Larry Fink, CEO of BlackRock, said that the firm lost $24 Million once the FTX platform collapsed. Although Fink confirmed that Blackrock did its due diligence before investing in FTX, he also claimed that FTX might have engaged in “some misbehaviors of major consequences”.

Fink also claimed that U.S.-based venture capital firm Sequoia was in a similar situation like Blackrock.

“I am sure they did the due diligence…Could they have been misled? Could they have done other things? Could we have been misled? Sure… but until we have more facts I’m not gonna speculate” said Fink to NY Time’s Andrew Ross Sorkin.

BlackRock takes time with crypto play

BlackRock, a fund manager with over $10 trillion in assets, has grown significantly over the past few years. The firm provides asset and risk management services to clients and also helps clients by connecting them to various investment products.

However, it was seemingly late to jump on the crypto bandwagon. Its first real crypto venture (barring a partnership with Coinbase) came only in April 2022 following the launch of an exchange traded fund (ETF) which tracks U.S. and non-U.S. companies involved with blockchain technology.

Since then, BlackRock has poured more chips into its crypto pot. A month later, the fund manager launched a similar ETF targeting European customers. A private spot Bitcoin trust was even announced in August with the aim of connecting crypto to more traditional investors.

However, many businesses, including BlackRock, have had to cope with losses following their crypto play. A bear cycle has engulfed Bitcoin since late 2021 and the same has weighed heavily on the prices of other coins in the market. Furthermore, incidents such as LUNA’s downfall and the FTX collapse have exposed many cracks present in the crypto industry.

Meanwhile, the FTX contagion has spread thick and fast. Exchanges like BlockFi have descended into bankruptcy while those like Genesis Global Capital are struggling to make ends meet.

Outside of crypto, many firms are struggling to cope amidst a tight U.S. economy. BlackRock itself has been a culprit of stock market losses this year. Its third-quarter results were mixed, obtaining lower revenues and offering a lower EPS year-on-year. An analyst at research firm SeekingAlpha said

“The outlook is also not favorable (for BlackRock). The yield spread is currently negative, pointing to a recession within now and 1 year”

Fate of crypto?

Despite the many issues prevalent for crypto, many industry leaders, even those investing in traditional assets, say that the future remains bright nonetheless.

Despite BlackRock’s crypto losses, Fink said he considers the technology behind crypto to be ‘very important’. He added: “I believe the next generation for markets and next generation for securities will be tokenization of securities.”

Meanwhile, crypto advocates have advised the community to remain headstrong and wait for the bear cycle to pass. Those like Changpeng Zhao (CZ), CEO of Binance, have vowed to restore confidence among both investors by taking steps to ensure that other companies do not meet the same fate as FTX. In November 2022, CZ Binance had announced a recovery fund to help projects in liquidity crisis.

CZ Binance on FTX Crisis
Source: https://twitter.com/cz_binance/status/1592044496174612482

On December 2, Bitcoin’s eased from $17k following a daily gain of 4.5% on the prior day. The king coin’s price has risen earlier following Federal Reserve Chair Jerome Powell’s hawkish stance on the U.S. economy.

BTC/USD Daily Price Chart
BTC/USD Daily Price Chart, Source: TradingView

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GMX price spikes over 30% as the DEX overtakes Uniswap in daily revenue https://coinchapter.com/gmx-price-spikes-over-30-as-the-dex-overtakes-uniswap-in-daily-revenue/ https://coinchapter.com/gmx-price-spikes-over-30-as-the-dex-overtakes-uniswap-in-daily-revenue/#respond Thu, 01 Dec 2022 21:08:20 +0000 https://coinchapter.com/?p=246365 GMX exchange usurped Uniswap in terms of daily fees for the first time in record. Meanwhile, GMX's namesake token faces sell-off risks.

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Decentralized exchange GMX enjoyed increased growth following the collapse of FTX.
Decentralized exchange GMX enjoyed increased growth following the collapse of FTX.

NEW DELHI (CoinChapter.com) — Decentralized crypto exchange GMX has witnessed serious growth following the collapse of FTX, resulting in the developing firm emerging as a serious competitor to established industry leaders.

Per a report from Delphi Digital, on Nov 28, GMX usurped Uniswap in terms of daily trading fees. GMX raked in more than $1.15 million, about 9% more than Uniswap’s $1.06 million.

Delphi Digital noted that GMX surpassed Unisex for the first time on record
Delphi Digital noted that GMX surpassed Unisex for the first time on record.

GMX allows users to trade perpetuals with no expiry and without an intermediary. The exchange likely benefitted from a shift of investors’ focus on perpetual-centric decentralized exchanges.

The exchange came live in Sept 2021, offering crypto perpetuals trading, which Binance and the now defunct FTX exchange dominated earlier.

Also Read: Cryptocurrency Price Prediction: Shiba Inu, Dogecoin, ADA, CREAM, ALGO

GMX is seventh in terms of fees collected over the last 30 days, with its fee rising by nearly 107.2% month on month in Nov.

MACD Bullish For GMX, But Bears Maintain Selling Pressure

The native namesake token of the exchange, GMX, recorded its highest daily gain in three weeks on Nov 30 as the crypto token price jumped more than 20% to reach a high of $49.7. On Dec 1, GMX price rose to $53.8 on Dec 1, resulting in the token spiking 30% from Nov 30’s low of $41.4.

However, the GMX crypto later pared gains to drop to a low of $47.7 on Dec 1, with the long upper wick on the day’s candle highlighting the strong bearish pressure on the token. If the sell-off continues, GMX price might fall to immediate support near $45.1.

Moreover, breaching below immediate support might force the crypto token to test support near $40.2 before prices recover.

GMX daily chart with MACD
GMXUSD daily chart with MACD. Source: Tradingview.com

Meanwhile, the momentum-oscillator MACD forecasts a bullish signal for the token. Additionally, positive bars on the MACD histogram are expanding, indicating the MACD line (difference between 12-day and 26-day EMA) moves away from the MACD signal line (9-day EMA of MACD).

Expanding positive bars indicate increasing bullish momentum for GMX price.

If traders start a buying spree, the GMX token price might rise to challenge resistance near $52. Moreover, a break and hold above immediate resistance could provide the crypto token price the momentum needed to rise to tackle resistance near $58.5 before downside corrections pare gains.

The protests in China highlight the failure of Xi Jinping’s third term. Read here to know more

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Xi Jinping’s Third Term is Complete Failure https://coinchapter.com/xi-jinpings-third-term-is-complete-failure-heres-why/ https://coinchapter.com/xi-jinpings-third-term-is-complete-failure-heres-why/#respond Thu, 01 Dec 2022 18:25:57 +0000 https://coinchapter.com/?p=246345 The third term of Chinese President Xi Jinping is a complete failure. The Chinese economy is in shambles amid and growing protest in China.

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The third term of Chinese President Xi Jinping is a complete failure. The Chinese economy is in shambles amid and growing protest in China.
Chinese President Xi Jinping has failed to contain the crisis in his country.

YEREVAN (CoinChapter.com) — President Xi Jinping continues to lead the country.

He secured his third term after scoring a total victory at the 20th Party Congress in mid-October to remain the general secretary of the Chinese Communist Party (CCP). However, his term has been a complete failure, as the Chinese economy will indicate. 

Since he retained office, Chinese citizens have voiced their concerns about the country’s situation. Several protests and large-scale demonstrations indicate that Xi Jinping’s empire is crumbling. 

Calls for Xi Jinping to resign 

Xi Jinping has been the most powerful leader in China since the 1980s. Yet, until recently, his rule has largely gone unchallenged. 

Earlier this year, reports suggesting he was kept under house arrest to prevent his return to power made global headlines. However, Xi was able to wiggle himself out of the crisis and once again positioned himself as the leader of his party. 

But now he faces a bigger challenge from a force larger than the CCP. The public in China wants Xi to step down. 

As CoinChapter earlier reported, the country’s Zero Covid policy has resulted in the deaths of many citizens, including children. In addition, Xi’s government’s prolonged lockdown and senseless, regressive policies have hurt the Chinese economy. 

Protests have broken out against Xi’s rule in several Chinese cities, resulting in harsh crackdowns by law enforcement agencies. Amid all this, the Government decided to extend the lockdown after several new cases of Covid 19 emerged. 

Several protestors in various cities are calling on Xi Jinping to resign.
Several protestors in various cities are calling on Xi Jinping to resign.

The decision caused widespread discontent. In the southern city of Guangzhou, protesters took matters into their hands. They defied the lockdown and flooded the streets. Videos emerging from the city show angry citizens clashing with health workers. 

A building fire on November 24 in Urumqi, the capital of the far western region of Xinjiang, killed at least ten people and injured many residents. The Chinese once again blamed the regressive lockdown measures which had delayed firefighters from reaching the victims.

In Shanghai, police used pepper sprays to drive away protestors and resorted to mass arrests. In videos that emerged from the protests, demonstrators can be heard shouting, “Xi Jinping, Step down. CCP, Step down.”

Xi Jinping’s embarrassing failure has also highlighted the cracks emerging from centralized control. 

Xi Jinping’s China faces an unemployment crisis

For the authoritarian leader of China, his grip on power seems more important than improving the situation in his country. Inflation in the United States and Europe, major importers of Chinese goods, is already hurting Beijing. 

As consumers cut spending in anticipation of a prolonged recession, Chinese exports are taking a hit. As a result, the country’s exports to the European Union fell by 9% in October after registering a slight growth in the previous month. 

Within the same period, China’s exports of household appliances fell by more than 20%. The world’s second-largest economy also registered an 18% drop in toy exports and an additional 11% in that of shoes, according to CNBC. 

“High inflation erodes the purchasing power of consumers overseas. As monetary policy will go deeper into restrictive territory, the risk of economic recession overseas will rise, considerably weighing on global demand. Thus, China’s exports may come under pressure,” 

 CNBC quoted Hao Zhou, chief economist at Guotai Junan International, saying. 

Barclays cut its forecast for China’s economic growth in early November 2023. According to its analysts, China’s exports will drop by 2% to 5% next year. This would bring the GDP forecast to 3.8%. In September, the bank had cut its forecast to 4.5%.

Data from Trading Economics shows that unemployment remained at 5.5% in October.

Unemployment, especially among the youth, is Xi Jinping's most urgent problems
Unemployment, especially among the youth, is Xi Jinping’s most urgent problems

According to Jörg Wuttke, president of the EU Chamber of Commerce in China, as many as 16 million jobs depend on the European market. So the drop in export to Europe threatens Xi Jinping with a massive unemployment crisis. 

If the Communist Party Leader does not implement temporary measures, the next wave of protests might sweep power off his hands. 

The unemployment crisis is particularly severe among the youth. There are as many as 21 million unemployed youths in various towns and cities of the country.

China faces a major debt crisis, and the property market crash

The Chinese housing crisis, coupled with the Zero Covid policy, has plunged the local Government into unprecedented debt. 

According to reports, local administrations face up to $8 trillion of debt. The amount is a result of the Local Government Financing Vehicles (LGFV), which China has used to pay for infrastructure projects. 

However, the economic slump caused by Covid-19, and the subsequent government clampdown on excessive borrowing by developers, has left local Governments with large debts. 

According to Dealogic, more than 60 property groups in China will have to pay about $13.3 billion in bond payments before the end of 2022. The Financial Times reported that this is equivalent to 13% of their over $100 billion outstanding obligations to international bondholders.

Evergrande Group, China’s largest real estate developer, has already defaulted on its bonds. The company had borrowed over $300 billion and has since promised a restructuring of the company. 

In Summer, another Chinese real estate company, Shimao Group, defaulted on $1 billion. 

About 4,000 small and medium-sized banks in China, with nearly $14 trillion in assets, risk facing a meltdown. 

“If a large number of small banks fail together, such an event could produce a chain reaction threatening the stability of the financial sector. Their counterparties and lenders, especially bigger banks, could suffer massive losses,”  

political scientist and China expert Minxin Pei argued in a piece for Nikkei Asia.

CoinChapter reported that China’s economy faces a fiscal shortfall of $1 trillion. 

Job cuts in the Chinese tech sector

Xi Jinping’s draconian crackdowns and zero-COVID policy have hurt the country’s tech sector. As a result, giants such as Alibaba Group and Tencent Holdings have resorted to major layoffs to save funds.

Smaller tech companies, such as Xiaohongshu, have also fired many employees amid the crisis.

In August, Tencent disclosed it had fired over 6000 employees. Earlier last month, the company announced a fresh round of layoffs.

According to local reports, many workers from the sector are now changing careers. An alarming rate of professional workers is now forced to work as street vendors. Many sell dumplings as means of earning a living.

Several tech giants are cutting jobs in the country, indicating that Xi Jinping's third term is a complete failure
Several tech giants are cutting jobs in the country

The job cut in the tech sector is not without cause. Major global investors have begun pulling their funds out of China. Tencent, for example, saw its investors withdraw more than $7bn worth in the second half of this year alone.

Japan’s Softbank also pulled out a large amount of cash from Alibaba. In addition, Berkshire Hathaway, Warren Buffet’s firm, announced it is selling its stake in electric vehicle maker BYD.

The fact that the United States is also cracking down on Chinese firms does not help Xi Jinping in the ongoing crisis.

With the drop in the country’s exports already snatching away many jobs, the cuts from the tech sector reveal Xi Jinping’s failures as he tries to assert himself in his third term.

Recommended: China’s real estate implosion leads to ‘toxic nationalism’ divergence.

China is losing its manufacturing dominance

Xi’s Zero Covid policies have hurt the backbone of the Chinese economy. It has slowly begun losing its manufacturing dominance as the prolonged lockdown has hurt its ability to meet global demand. As a result, other Asian neighbors have begun biting into its global market share.

According to data from transport economics firm MDS Transmodal, which CNBC quoted in a recent report, the country has lost ground in key consumer categories, including clothing and accessories, footwear, furniture, and travel goods. In addition, its share in exports from minerals and office technology has also declined.

Data released by the National Bureau of Statistics (NBS) revealed China’s industrial profits fell 3.0% in the first ten months of 2022 from a year earlier.

Chinese trade has dropped as demand slows thanks to global inflation. Can Xi Jinping recover?
Chinese trade has dropped as demand slows thanks to global inflation

In the first ten months of 2022, profits for manufacturers fell a whopping 13.4%. According to the NBS, the official manufacturing purchasing managers’ index (PMI) came in at 48.0 for November. This figure was 49.2 in October.

The economic prospects of the country seem bleak. In September, Goldman Sachs cut its 2023 GDP growth forecast for China to 4.5% from 5.3%. The Japanese financial giant Nomura also cut its forecast to 4.3% from 5.1%.

In the third quarter of 2022, China’s economy managed a meager growth of 3% despite the official target of around 5.5%.

Under Xi Jinping, China's economy is in a freefall, growing by just 3% in the third quarter despite the target of 5.5%
The Chinese economy is in a freefall, growing by just 3% in the third quarter despite the target of 5.5%

Severe drought and extreme heat waves have also impacted the economy. Factories are unable to run air conditioners and have to cut down work hours. In addition, the electricity grids in various parts of the country cannot meet such high demands.

The Chinese economy is bleeding from all sides. So even if Xi Jinping ends the Zero Covid policy today, it will be many months before the Chinese economy can recover.

Since he took power for his third term, he has done nothing to alleviate the situation. On the contrary, with civic unrest growing daily and the economy in shambles, experts would argue that he has already failed.

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PlanetCats combats deforestation through its new crypto venture. https://coinchapter.com/planetcats-combats-deforestation-through-its-new-crypto-venture/ https://coinchapter.com/planetcats-combats-deforestation-through-its-new-crypto-venture/#respond Thu, 01 Dec 2022 18:00:01 +0000 https://coinchapter.com/?p=246456 PlanetCats establishes itself as a blockchain and crypto platform. In the latest development, the company introduces sustainable solutions to save rainforests and earn Passive Income while fighting deforestation. The blockchain platform promotes environmental awareness in the rainforests and wants to build solutions that draw attention to the lungs of planet earth and mass adopt blockchain […]

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PlanetCats establishes itself as a blockchain and crypto platform. In the latest development, the company introduces sustainable solutions to save rainforests and earn Passive Income while fighting deforestation. The blockchain platform promotes environmental awareness in the rainforests and wants to build solutions that draw attention to the lungs of planet earth and mass adopt blockchain solutions to give its investors a revenue stream.

The platform uses blockchain technology with a community of supporters and investors that want to save Earth while developing solutions so that preserving becomes more valuable than slash and burning. The newly formed crypto features that are designed to combat deforestation are as follows:

  1. Deflationary Token with a burn mechanism based on the latest deforestation numbers

  2. BUSD Rewards and Staking for Passive Income

  3. Charity activities

  4. Education & Awareness

  5. Bridge & DAO

  6. Collectible & Utility NFTs 

  7. Generate Carbon Certificates to Sell on Voluntary Carbon Market.

In addition, PlanetCoins considers trees one of the essential resources, and they are being destroyed at an alarming rate. Therefore, the platform strives to change this by creating a tokenized ecosystem that will save rainforests through blockchain technology.

They realize that trees are crucial to the planet’s survival and need humanity’s help. That’s why PlanetCats are working on tokenizing trees to prevent deforestation and protect animal habitats and Indigenous people. Also, it strives to reduce pollution and greenhouse gases and to avoid erosion of topsoil and nutrients from leaving soil surfaces.

The founders believe that saving these precious resources can reduce global warming and preserve their environment for future generations. PlanetCats also aims to empower local communities by giving them incentives to grow trees in their area while also allowing them to earn money from selling these trees using their tokens.

The PlanetCats platform enables its users to invest in protecting and conserving wildlife while also receiving passive income from their investments. They’re not just trying to save the planet. They’re trying to make it profitable, as this is the only way to scale the business to create real impact.

About the Company – PlanetCats 

PlanetCats is a blockchain initiative dedicated to saving rainforests by creating a business model that allows investors to generate income. They believe trees are the lungs of planet earth, and they aim to protect them by tokenizing them.

PlanetCats aims to create an ecosystem that will allow people to buy and sell carbon credits in an open and transparent marketplace. The project is built on top of the Binance Smart Chain, which helps create a trustless system where no one controls another person’s funds or data.

On December 1st, PlanetCats $CATOIN will be available for purchase on GemPad. Users who want to be the first to get in on the action can check out their whitelist competition now. The project is supposed to be listed on the exchange PancakeSwap on December 4th.

Intending users can visit the following links for further information:

Whitelist Competition | Website | Twitter | Telegram

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Cryptocurrency Price Prediction: Shiba Inu, Dogecoin, ADA, CREAM, ALGO https://coinchapter.com/cryptocurrency-price-shib-doge-ada-cream-algo/ https://coinchapter.com/cryptocurrency-price-shib-doge-ada-cream-algo/#respond Thu, 01 Dec 2022 15:52:10 +0000 https://coinchapter.com/?p=246236 Crypto market continued its recovery, but SHIB, DOGE, ADA, and ALGO witnessed sell-offs, while CREAM started 2022's last month on a high note.

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Cryptocurrency Price Prediction of Shiba Inu, Dogecoin, ADA, CREAM, ALGO
The cryptocurrency market continued its minor recovery rally as trading entered Dec.

NEW DELHI (CoinChapter.com) — The cryptocurrency market continued its recovery, but low-cap crypto tokens like SHIB, DOGE, ADA, and ALGO witnessed sell-offs. However, Cream Finance’s CREAM token started 2022’s last month on a high note.

Bitcoin’s (BTC) price ended Nov after closing above $17,000 after nearly three weeks of struggling with the price level. The price increase might indicate that the selling pressure from the FTX contagion might be waning.

Bitcoin shrimps have been accumulating to take advantage of the low BTC prices.
Bitcoin shrimps have been accumulating to take advantage of the low BTC prices.

Moreover, Bitcoin’s small investors have not dumped their holdings but have been accumulating since the FTX collapse. According to Glassnode data, small retail investors with fewer than 1 BTC bought 96,200 BTC tokens since the FTX crash.

In addition, wallets holding 1 to 10 BTC tokens bought more than 191,600 BTC in the past month. However, despite the buying spree, it is unlikely BTC price would mount a steep recovery.

The US CPI data and the Federal Reserve policy decision, due in the second week of Dec, might cast bearish headwinds for the crypto markets.

1. Shiba Inu (SHIB) Price Prediction

Meme token Shiba Inu’s native token SHIB price continues to struggle against its 20-day EMA (red wave). As a result, SHIB price dropped 2% to the day’s low of $0.00000919 on Dec 1, after the 20-day EMA resistance near $0.00000943.

If the sell-off continues, the SHIB crypto price might drop to test support near $0.0000089. Moreover, breaching below the immediate resistance could force the Shiba Inu token to $0.0000084 before recovering.

SHIB Price Prediction
SHIBUSD daily chart with MACD. Source: Tradingview.com

Meanwhile, the momentum-oscillator MACD forecasts a bullish signal for the Shiba Inu crypto token. Positive bars on the MACD histogram are expanding, indicating the MACD line (difference between 12-day and 26-day EMA) moves away from the MACD signal line (9-day EMA of MACD).

Expanding positive bars indicate increasing bullish momentum for the SHIB price.

However, for SHIB to mount an uptrend, the crypto token would need to break and hold above immediate resistance from its 20-day EMA before SHIB price can target resistance from its 50-day EMA (purple wave) near $0.00001 before downside corrections pare gains.

2. Dogecoin (DOGE) Price Prediction

The prime memecoin, DOGE, had been on a nine-day uptrend between Nov 22 and 30. However, the canine-themed crypto token started Dec on a bearish note as the DOGE price fell 5.4% to a low of $0.1021 on Dec 1.

However, the lower wick on the day’s daily candle indicates DOGE bulls remained active near the lower price levels. If DOGE bulls continue pushing prices upward, the Dogecoin crypto token might break above immediate resistance near $0.108.

Additionally, consolidating above immediate resistance could help DOGE rise to challenge resistance near $0.117 before downside corrections pare gains.

DOGE Price Prediction
DOGEUSD daily chart with RSI and a potential golden cross. Source: Tradingview.com

Another bullish cue for the Dogecoin crypto might come if the token’s 50-day EMA (purple wave) needles above 200-day EMA (green wave) to form a bullish pattern called the golden cross. Traders consider the pattern an indicator of positive market sentiment.

Also Read: XRP Price Breaking This Confluence Resistance Could Spark Strong Surge

Meanwhile, the relative strength index for DOGE remains neutral, with a value of 61.41 on the daily chart. Though currently neutral, the RSI is near the overbought threshold of 70. An overbought RSI often precedes a bearish trend reversal.

Thus, if traders start selling, the Dogecoin crypto price might drop to test support near $0.102. Breaching below immediate support could result in the DOGE price falling more than 10% to reach $0.93 before recovering.

3. Cardano (ADA) Price Prediction

Cardano’s native token, ADA, tested multi-month descending trendline support for the eighth time since May 2022. As a result, ADA price rose 3.24% on Nov 30 but failed to flip the 20-day EMA (red wave) resistance near $0.33.

Moreover, on Dec 1, ADA price dropped nearly 2% to reach a low of $0.314 before bulls recovered some ground. However, the Cardano crypto token would need to break above its 20-day EMA resistance to start an uptrend.

Breaking above the immediate resistance might help ADA price challenge resistance from its 50-day EMA (purple wave) near $0.36.

Cardano  Price Prediction
ADAUSD daily chart with MACD. Source: Tradingview.com

Meanwhile, the momentum-oscillator MACD continues to be bullish for the Cardano crypto token. Positive bars on the MACD histogram are expanding, indicating the MACD line (difference between 12-day and 26-day EMA) moves away from the MACD signal line (9-day EMA of MACD).

Expanding positive bars indicate increasing bullish momentum for ADA price.

However, the negative slope of the EMA trendlines highlights the bearish pressure against the Cardano token. If the bears continue to sell, ADA might be forced to re-test support from the descending trendline near $0.31.

Breaking below the trendline support might induce a sell-off that could see the Cardano token drop to $0.285 before recovering.

4. Cream Finance (CREAM) Price Prediction

Cream Finance’s native token CREAM started Dec by jumping 68.4% to a high of $21.5 before downside corrections pared gains. In addition, the Cream Finance crypto token rose more than 73% to reach a high of $18.1 before bears started to book profits.

The CREAM token’s recent price action left its 20-day EMA (red wave) poised to needle above its 50-day EMA (purple wave) and form a bullish pattern called the golden cross. Buyers usually enter the market once the pattern forms, considering the golden cross a positive market sentiment indicator.

If the CREAM price rises, the crypto token might break above its immediate resistance near $17.7 before moving to challenge resistance from its 200-day EMA (green wave) near $21.3 before downside corrections pare gains.

Cream Finance Price Prediction
CREAMUSD daily chart with RSI and a potential golden cross. Source: Tradingview.com

Meanwhile, the RSI for CREAM remains bullish, with a value of 66.1 on the daily charts. However, the RSI trendline is dangerously close to crossing into overbought territory, which might result in traders starting to sell, anticipating an impending trend reversal.

Also Read: Cryptocurrency Billionaire Died in a Suspicious Helicopter Crash Outside Monaco

The sell-off might force the CREAM price to test support from its 100-day EMA (blue wave) near $13.8.

Additionally, breaking below the 100-day EMA support might result in the Cream Finance token falling to test the support confluence of 20-day EMA (red wave) and 50-day EMA (purple wave) near $10.7 before recovering.

5. Algorand (ALGO) Price Prediction

ALGO price fell nearly 3.6% to a low of $0.24 on Dec 1. The Algorand crypto token has been crabbing since Nov 22.

Meanwhile, the momentum-oscillator MACD charted a bullish crossover for the Algorand crypto token. A bullish crossover occurs when the MACD line (difference between 12-day and 26-day EMA) needles above the MACD signal line (9-day EMA of MACD).

Moreover, expanding positive bars indicate increasing bullish momentum for the ALGO price.

Algorand Price Prediction
ALGOUSD daily chart with MACD. Source: Tradingview.com

If buyers enter the market, ALGO’s price might challenge resistance near $0.25. A break and hold above immediate resistance might help the Algorand crypto price target resistance from its 20-day EMA (red wave) near $0.27 before retreating.

Conversely, if bears continue selling, the Algorand token might fall to test support near $0.233. Moreover, breaching below the immediate support level could see the ALGO price drop more than 10% to reach $0.215 before recovering.

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Is US Creating Economic Sinkhole By Aiding Ukraine? https://coinchapter.com/us-creating-economic-sinkhole-aiding-ukraine/ https://coinchapter.com/us-creating-economic-sinkhole-aiding-ukraine/#respond Thu, 01 Dec 2022 15:09:26 +0000 https://coinchapter.com/?p=246225 The US has always been an economic powerhouse, especially since the end of World War II. The country alone accounts for a quarter of the world's global wealth, innovation, and military spending.

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Is US Creating Economic Sinkhole By Aiding Ukraine?

NEW DELHI (CoinChapter.com) — The US has always been an economic powerhouse, especially since the end of World War II. The country alone accounts for a quarter of the world’s global wealth, innovation, and military spending.

Leaders have often leveraged the nation’s supremacy to aid other ailing economies for humanitarian, moral, ethical, or financial benefits. However, with the onset of COVID-19, the US’s piggy bank is not as cash-heavy as it once was.

The US has Paid Ukraine $13.5B in Grants

Analysts claim that piling debt and rising inflation could all weigh on the US economy and lead to an eventual economic meltdown. This is why many pundits have raised concerns about whether foreign aid is necessary during a potential economic turmoil.

Source: Twitter

Recently, Reuters reported that the US had commissioned a grant of $53 million to war-torn Ukraine. The aid aims to help Kyiv defend its energy infrastructure, which Russian troops have targeted via airstrikes.

As a result, the total US grant to Ukraine stands at around $13.5 billion from January 2021. So does the US’s sheer relentlessness to counter Russia’s military regime in Ukraine come at a cost?

There are arguments on both sides.

The Micro Picture

US Federal Reserve Chair Jerome Powell provided a momentary relief to markets on Nov 30 by calling for lower interest rate hikes. Yet, Powell’s speech carried a subtle warning, with him saying:

“Despite some promising developments, we have a long way to go in restoring price stability”

Since the beginning of 2022, the US has initiated five rate hikes to fight soaring inflation. At one point, inflation rose 9.1% year-on-year to its highest level in 40 years.

The same has gorged a hole into Americans’ average weekly pay in the past year. Nbcnews reported that Americans have ‘effectively experienced’ a 12-month pay cut of $0.31 per hour based on data from the US Bureau of Labor Statistics.

The report further added that a decrease in hours worked, Americans’ inflation-adjusted average weekly pay has decreased by only $13.20 from one year ago.

“I’ve had to take a serious look at my budget and find places to cut back,” a concerned American citizen told Boston’s wbur. Another remarked:

“My wife going to be working full time, and it’s going to cost us about 1,400 dollars a month to put just two of my kids in the childcare facility.”

Macro scale

However, on a macro level, the US economy is improving.

In a recent report, third-quarter GDP growth was revised to 2.9% from 2.6%. Although job openings decreased during October, they were considered healthy overall. It was the 16th straight month that job openings remained above 10 million.

According to Reuters, the US labor market battles rising inflation, which helps support the economy.

Yet, the government’s balance sheet is a growing issue. The fiscal deficit for the year ended 2023 climbed to $88 billion, contributing to a national debt of $31.24 Trillion through October 2022. This is the highest debt figure the US has ever recorded.

Republicans raise concerns

There are several ways of analyzing the economic state of the US. First, even though the economy looks healthy on the outside, the situation is different at the ground level. This has led to some voices being raised from within the country.

“Under Republicans, not another penny will go to Ukraine”; “Our country comes first,” said Marjorie Taylor Greene in early November, adding:

“We must stop letting Zelensky demand money & weapons from US taxpayers while he is trying to drag us into WW3. No more money to Ukraine. It’s time to end this war and demand peace.

Source: Twitter

A recent poll also showed that the number of Republicans who feel the US is doing too much for Ukraine rose from 6% in March 2023 to 30% of all Americas at the end of October.

Counterarguments add that as the world’s largest economy, it is the US’s moral and ethical duty to help Ukraine. Others argue that the US is in a proxy war with Russia and that any economic benefit provided to Ukraine would cripple Russia’s global strength.

They also say that aid to Ukraine had a negligible impact on total federal spending and the US economy.

There are different ways of looking at the scenario, and neither would be in the wrong. However, only time will tell whether the US’s efforts will pay off in the grand scheme.

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Ripple vs SEC Update: Ruling on summary judgment will come first, says expert https://coinchapter.com/ripple-vs-sec-update-ruling/ https://coinchapter.com/ripple-vs-sec-update-ruling/#respond Thu, 01 Dec 2022 14:24:34 +0000 https://coinchapter.com/?p=246267 The Ripple vs SEC (Securities and Exchange Commission) case has dragged on since Dec 2020, while thousands of XRP holders hope for the final ruling to arrive in 2023. James K. Filan, an attorney, consistently providing followers with details on the case, asserted that Magistrate Judge Torres is likely to "work backward."

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Ripple vs SEC Update: Ruling on summary judgment will come first, says expert

YEREVAN (CoinChapter.com) – The Ripple vs SEC (Securities and Exchange Commission) case has dragged on since Dec 2020, while thousands of XRP holders hope for the final ruling to arrive in 2023. James K. Filan, an attorney, consistently providing followers with details on the case, asserted that Magistrate Judge Torres is likely to “work backward.”

I.e., the judge is likely to deliver a ruling on the summary judgment before the ruling on the sealing of expert materials and the Hinman documents.

What Judge Torres relies on in making her decision on the summary judgment motions will likely dictate what she will unseal. If the Judge relies on a document in her decision, that document is considered a “judicial document,” and then it would be disclosed.

says Filan in a recent tweet.

Filan also noted that there are currently three major outstanding issues: summary judgment motions, expert challenges, and sealing issues regarding the Hinman documents and other materials relied on by the SEC and Ripple. But before discussing the current proceedings, a small flashback into the case is warranted.

XRP vs SEC: A Small Flashback

As mentioned, the SEC filed the said lawsuit in Dec 2020, accusing Ripple of selling $1.3 billion worth of its native token XRP as unregistered securities. Since then, both parties have worked out several angles of prosecution and defense.

The SEC has earlier declared ALL of XRP transactions since the ICO (initial coin offering) in violation of the US investment law. Ripple fired back, accusing the agency of bias towards XRP. The company claimed that as SEC signed both Bitcoin and Ethereum off as cryptocurrencies as early as 2018, there is no evidence to suggest XRP should get the short end of the stick.

Summary Judgment Ruling

In detail, the motion of summary judgment means that the SEC requested the court to reach a verdict based on the available pieces of evidence, drawing the lawsuit to a close. Notably, both sides have previously filed the said motion, claiming that the evidence they have already presented would be enough for a ruling.

Judge Torres has not yet reached a conclusion on any of the summary judgment motions. However, Ripple’s defense team was confident that the agency had no leg to stand on. They latched on to a quote by the SEC lawyers that claimed: “an agency may not bootstrap itself into an area in which it has no jurisdiction.”

In its Motion for Summary Judgment, the SEC is trying to do just that. After nearly two years of pleadings, discovery, and motion practice, the SEC still has no viable legal theory to support its central claim that the Defendants had to register XRP as a security under the Securities Act of 1933.

read the Defendant’s preliminary statement.

Sealing of Expert Materials

During the proceedings, both SEC and Ripple provided expert opinions on the case, but the SEC motioned to keep them sealed. As CoinChapter reported previously, “Judge Torres has granted in part and denied in part the Parties’ requests to seal documents.” The said documents are in connection with the “amici Motion to Participate in the Daubert proceedings.”

In detail, the Douberg Proceedings permit the parties to examine the challenged expert in open court to develop his or her testimony. In plain English, this means that the mentioned expert opinions will be open to the public, which brings us to the Hinman Speech.

Hinman Documents

Ripple’s defense cited what is now referred to as the “Hinman Speech” to prove their point. William Hinman is the former Director of the Corporation Finance Division at the SEC. In his June 2018 speech, Mr. Hinman voiced his position on defining digital assets.

Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.said the former official.

said Hinman

Notably, there are several documents related to Hinman himself, his deposition, and expert consults that were provided to him at the time.

James K. Filan’s prediction

Fast forward to Filan’s prediction, the expert noted that Judge Torres “will not reference” the Hinman documents in the upcoming rulings. He is sure that “the SEC will redact those references as they have done in the past.”

I also don’t think that Judge Torres will rule on sealing issues soon after January 9 because it’s probably isn’t how Judge Torres is going to approach the remainder of this case.

added the expert.

Click here to keep up with the ever-changing crypto market and never miss the scoop!

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Numbers Mainnet: Ushering in a New Era of Digital Media Trust https://coinchapter.com/numbers-mainnet-ushering-in-a-new-era-of-digital-media-trust/ https://coinchapter.com/numbers-mainnet-ushering-in-a-new-era-of-digital-media-trust/#respond Thu, 01 Dec 2022 14:18:01 +0000 https://coinchapter.com/?p=246464 Numbers Mainnet launch is the start of a new era of traceable and verifiable digital media that can revolutionize digital media on the web.  TLDR Numbers Mainnet is the archive and library of committed media history of Web3 assets. It provides the cost-effective and environmental friendly option to commit the full history of Web3 assets […]

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Numbers Mainnet launch is the start of a new era of traceable and verifiable digital media that can revolutionize digital media on the web. 

TLDR

  • Numbers Mainnet is the archive and library of committed media history of Web3 assets.

  • It provides the cost-effective and environmental friendly option to commit the full history of Web3 assets

  • It will be the default blockchain of ecosystem applications built with Numbers Protocol

  • Numbers Mainnet is built with Avalanche Subnet technology

  • Ecosystem partnerships with industry leaders such as Avalanche and Filecoin as well as partnerships with Stanford Starling Project and CreatorDAO

Following a successful community campaign of Numbers Testnet, we are excited to announce that Numbers Mainnet is now LIVE! Numbers Testnet launched on Nov. 11, 2022 enables Numbers Protocol to operate past its previous constraints and fully realize its vision of creating trustworthy media on the web.

Much effort has been made behind the scenes to ensure Numbers Mainnet launch can hit the ground running. Here are a few community highlights:

  • A total three phases are hosted for the community to experience the future journey of Web3 assets

  • Over 10,000 testers participating in Numbers Testnet

  • The Official Blockchain of Capture APP, the first Web3.0 camera and photo application with over 100,000 assets created

A New Chapter for Numbers Protocol

With billions of images and videos uploaded to the internet everyday and an increasing number of individuals making their living off of content creation, it has become increasingly important to know information such as who the creator is, what is the license, who owns the license and whether or not what you are seeing is authentic or fake. 

Seeing the full picture of digital media allows us to give credit where credit is due and also empowers its viewers to make informed decisions. Numbers Protocol is a digital media library and indexing system that aims to provide a more transparent outlook on digital media. It starts with Numbers ID (nid). Every piece of digital media registered with Numbers Protocol is given a unique identifier that can be called upon to access digital media files on decentralized storage as well as digital media information archived on the blockchain.

Prior to the launch of Numbers Mainnet, Numbers Protocol leveraged third party blockchains to archive digital media content. Though effective in making digital media information accessible and verifiable the limitations from the user perspective were apparent. Numbers Mainnet unlocks Numbers Protocol and enables it to support the entire lifecycle of the modern digital asset.

Becoming the Pillar of Trust the Digital Media Space Needs

Numbers Blockchain is a blockchain solution built with the Avalanche Subnet technology. As an Avalanche Subnet, Numbers Blockchain is an independent blockchain that defines its own networking, provides its own security, as well as its own execution logic and fee structure. If you are interested in learning more about Avalanche Subnets you can read more about it here.

Facilitating much of Numbers Protocol’s core functionality, especially the archiving of committed media history of Web3 assets, Numbers Blockchain changes digital assets from untraceable and unverifiable entities into standalone entities capable of “speaking” for themselves through accessible and transparent records. Numbers Blockchain achieves this by generating a unique identity of the digital media, which is also known as the content ID in the Filecoin/IPFS ecosystem. Key information such as on-creation metadata (location, timestamp, other data regarding creation circumstances), creator information, asset changelogs and licenses are stored onto the blockchain to assure the integrity of the digital media.

Digital media on the web today are scrutinized heavily due to out-of-context use, deep fake technology and digital asset theft. They sit idly on the sidelines while parties with varying interests internet debate in vain its validity and trustworthiness. Numbers Blockchain shakes up the landscape of digital media on the web. No longer needing to rely on external factors, Numbers registered digital media are able to represent their own records and values independent of external factors.

Supporting the entire lifecycle of modern digital asset

As an asset-centric blockchain, Numbers Blockchain strives to support the entire lifecycle of the modern digital asset with additional smart contract support for asset monetization, NFT minting, royalty distribution and more. If you are interested in more details on Numbers Blockchain smart contract you can read more here.

Beyond Mainnet

While Numbers Mainnet is the culmination of years of hard work from the Numbers community and its supporters, it is also a beginning. Numbers Mainnet is the start of a journey that we hope will reshape digital media on the web. There is still quite a bit of work to be done. While our community is thriving and our partners are growing, it will take much more to see a full adoption of traceable and verifiable digital assets. If you are reading this and feel the authentic media vision that Numbers Protocol is creating is something you are interested in, we would love to have you help us out.

In the short term help us out with Numbers Mainnet by joining us in our inaugural Mainnet campaign, stay tunned to our social media to get more details!

Media Contact:

Website: https://www.numbersprotocol.io/

Email: sofia@numbersprotocol.io

Contact person: Sofia Yan

Twitter: @numbersprotocol

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Bytebus – Every Day Passive Income from Cloud Mining https://coinchapter.com/bytebus-every-day-passive-income-from-cloud-mining/ https://coinchapter.com/bytebus-every-day-passive-income-from-cloud-mining/#respond Thu, 01 Dec 2022 13:00:02 +0000 https://coinchapter.com/?p=246470 What is crypto mining? New digital “coins” are produced through the process of mining cryptocurrencies. But that is the extent of simplicity. In order to locate these coins, it is necessary to solve challenging riddles, authenticate bitcoin transactions on a blockchain network, and add them to a distributed ledger. What is cloud mining? The simplest […]

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What is crypto mining?

New digital “coins” are produced through the process of mining cryptocurrencies. But that is the extent of simplicity. In order to locate these coins, it is necessary to solve challenging riddles, authenticate bitcoin transactions on a blockchain network, and add them to a distributed ledger.

What is cloud mining?

The simplest and most efficient way to earn money from cryptocurrency mining without having to acquire and maintain equipment is through cloud mining. It is accomplished by renting out the company’s equipment facilities. These businesses are referred to as cloud mining providers.

The ease with which mining can be started with just two clicks is one of its key benefits. Simply choose and purchase a contract. Therefore, avoid unneeded risk and the challenges of independent mining and obtain reliable passive income!

In this scenario, you purchase mining facilities for rent for the necessary time period in order to generate bitcoin, and the miner firm handles complete services such as physical equipment availability, software, electricity, installation, and maintenance.

Bytebus.com – The most trusted cloud mining platform in 2022

When Bytebus was founded in 2018, it was one of the first businesses to provide cloud mining services, and it has since earned the trust of more than 360,000 people worldwide. Enrolling and joining Bytebus makes cloud mining participation straightforward and uncomplicated.

Customers may easily sign up and verify their accounts with Bytebus because to its user-friendly web interface. Additionally, you are qualified to receive a ten dollar sign-up bonus as a new member. Bytebus also has a referral program via which users can earn a 3% incentive for recommending the company to their friends and family.

For cloud mining, Bytebus now provides a number of plan options, including $10, $100, $1,600, and $6,000, among others. Each of these contracts has a unique length and offers a unique rate of return on investment.

Can users make money without investing?

We welcome everyone to join our registration event, no investment required. Get $10 immediately after signing up, and that $10 can be used to purchase a free plan. Users can buy a free plan every day, earn $1 in profit per day, and withdraw when their balance reaches $100.

Investment plan

Currently, Bytebus offers a variety of different cloud mining pricing options, such as $10, $100, $1600, and $6000 plans, among others. Each of them gives a unique Return on Investment and has a unique contract period.

A $100 plan with a three-day contract period generates a return of $6.

A $480 investment plan with a 10-day contract period and a return of $102 is being offered.

A $6,000 investment plan with a fifty-day contract duration generates a $7,400 return. Daily rates might rise as high as 2.47 percent!

You can receiving payment each day because payments are provided regularly. The level of returns remains constant regardless of how long an investment is held. You will have the option to either withdraw the money or keep investing at the conclusion of the time period set in the contract. Bytebus fully guarantees the principle and interest on each and every investment made with them.

Could I get in referral program?

Even if you don’t make an investment, you can start making money. Copy your referral link and share it with others to earn incentives. Each Bytebus user gets a special referral link that may be shared with anyone. Any new user who signs up using your referral link counts as a referral for life. For each purchase made by one of your referrals, you are entitled to receive a 3% referral commission bonus. For instance, you would receive $3 for free if someone used your referral code to make a $100 transaction.

Learn Bytebus

Bytebus complies with FCA regulations (Financial Conduct Authority) laws to ensure consumers are treated fairly; the FCA regulates financial services, businesses and markets.

Bytebus operates large data centers in Kazakhstan, Myanmar and Iceland. The government of Kazakhstan has granted Bytebus an exclusive worldwide license to support land leasing and development for the next five years.

Bytebus builds the world’s top cloud mining platform with the most cutting-edge deployment technology, providing 2% to 10% of the world’s Hash computing power. We have more plans for new products and services coming soon.

In conclusion, if you are looking for a reliable source of passive income by investing in cryptocurrencies, you should use the services of Bytebus.

For more information on Bytebus and to purchase cloud mining plans, visit their website https://bytebus.com/

Twitter: https://twitter.com/bytebusUK

Facebook: https://www.facebook.com/bytebusUK/

Youtube: https://www.youtube.com/watch?v=F-EPwao6ZLQ&t=40s

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CoinAgenda Caribbean Highlights Investors and Startups During Puerto Rico Blockchain Week featuring MegaMask and Big Watt Digital and Other Exciting Projects https://coinchapter.com/coinagenda-caribbean-highlights-investors-and-startups-during-puerto-rico-blockchain-week-featuring-megamask-and-big-watt-digital-and-other-exciting-projects/ https://coinchapter.com/coinagenda-caribbean-highlights-investors-and-startups-during-puerto-rico-blockchain-week-featuring-megamask-and-big-watt-digital-and-other-exciting-projects/#respond Thu, 01 Dec 2022 13:00:01 +0000 https://coinchapter.com/?p=246478 CoinAgenda (www.coinagenda.com), the premier global conference series connecting blockchain and cryptocurrency investors with startups since 2014, and BitAngels, the leading network of bitcoin and blockchain investors, today announced the Opening Party kickoff for CoinAgenda Caribbean on Monday, December 5, which is also the first day of Puerto Rico Blockchain Week (PRBW). Crypto and blockchain enthusiasts […]

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CoinAgenda (www.coinagenda.com), the premier global conference series connecting blockchain and cryptocurrency investors with startups since 2014, and BitAngels, the leading network of bitcoin and blockchain investors, today announced the Opening Party kickoff for CoinAgenda Caribbean on Monday, December 5, which is also the first day of Puerto Rico Blockchain Week (PRBW). Crypto and blockchain enthusiasts flock to the island for PRBW where investors seek investment opportunities.

Startups and industry leaders who are looking to grow their networks will gather at CoinAgenda, the target conference to attend during the week. Tickets are available on CoinAgenda’s event page and provide a VIP experience for all attendees, speakers and sponsors with access to sessions, networking, and exclusive parties. 

As industry events expand, CoinAgenda remains the longest running crypto conference focused on growing and expanding blockchain and web3 through investments and quality networking. The development of blockchain technology is dependent on capital, and CoinAgenda is a hub where these relationships between startups and investors are built in person. Although the virtual and digital connection has become the norm, in person events, especially a multi-day conference like CoinAgenda, have the potential to ignite and expedite these relationships leading to new business deals.

“In our industry, a decade has occurred in the last 24 months. Blockchain is now facing internal and external challenges and it is my strong belief that true innovation is the only path to solve both challenges at the same time,” said Ken DiCross, Founder of MegaMask, a platinum sponsor at CoinAgenda. “CoinAgenda has been a leading blockchain conference for exposure to the latest technology and partnership opportunities. I look forward to presenting the latest Wire Network innovations that solidify the foundation for the secure and decentralized world we are helping to build.”

MegaMask is a next generation universal wallet utilizing leading edge blockchain innovation. Megamask will leverage Wire Network’s decentralized bridgeless interoperability integration UPAP (Universal Polymorphic Address Protocol), providing seamless support to all blockchain assets.

At CoinAgenda, sponsors, attendees and speakers have three days to network with each other and sponsors have the opportunity to target attendees on multiple days, bringing more exposure to their companies. As the industry continues to grow and more events exist, attendees can get the most out of their experience by evaluating their goals and making sure a conference aligns with that.

The final day of CoinAgenda includes the BitAngels startup competition where a mix of companies will pitch in a demo day environment for an audience of VCs, crypto funds, family offices, media and other strategic partners. Upon completion of the presentations and by popular vote of the judges, one winner will be announced who will receive a free ticket to CoinAgenda 2023 and a marketing package (total value is $13,000). All investors and conference attendees are invited to attend BitAngels. 

“Through every cycle, the winners are determined by their ability to navigate and take advantage of opportunities. To navigate successfully, companies need knowledge, alliances, and quality people. We believe we gain access to these necessities and more at CoinAgenda,” said Jeremy Nichele, Founder of Big Watt Digital. Big Watt Digital aims to be one of the fastest growing ESG Crypto Mining Companies in the entire industry and prioritizes environmental, social and governance factors in the company’s investment and scaling criteria.

CoinAgenda and BitAngels are both committed to expanding the blockchain ecosystem by engaging startup founders, investors and entrepreneurs. As the longest running conference in blockchain, CoinAgenda has been the launchpad for numerous successful companies. 

Tickets for this year’s event will be available until the conference ends on Dec 7. Purchasing in advance online is recommended. To purchase tickets for CoinAgenda Caribbean visit https://bit.ly/3OBcUT6. To view the full schedule visit https://coinagenda.com/coinagenda-caribbean-2022-schedule/

If you are interested in pitching at BitAngels or other sponsorships please contact Danilo Crestejo, Sponsorships & Client Relations at danilo@layer1events.com. For more information regarding CoinAgenda, visit www.coinagenda.com or email contact@layer1events.com

ABOUT COINAGENDA

CoinAgenda (www.coinagenda.com) has been the industry’s leading global conference series since 2014, connecting professional investors, traders, family offices and digital currency funds with top entrepreneurs in blockchain, cryptocurrency and Web3. CoinAgenda is an experience that allows all attendees to meet, mingle and get to know the leading thought leaders, entrepreneurs and investors in the sector, including memorable parties at unique locations. It’s the most exclusive investor conference series in the blockchain world.

Connect with CoinAgenda: 

Instagram  Twitter  Facebook  Telegram  LinkedIn

ABOUT LAYER1 EVENTS

Layer1 Events (www.layer1events.com) is a multifaceted approach to blockchain events and marketing. Through various event series offerings, Layer1 Events provide individuals and projects options to meet their goals including Brand Awareness, Funding, Community Building, Lead Generation, and Education. Layer1 Events include CoinAgenda, BitAngels, Satoshi Salon and NFT Carnival.

To learn more about Layer1 Events, visit www.layer1events.com

Instagram  Twitter  Facebook  LinkedIn

 

MEDIA CONTACT: 

contact@layer1events.com

Please email contact@layer1events.com if you’re interested in sponsorship or have questions. 

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Moonbirds vs. BudBlockz: Which NFT Collection Should You Go With? https://coinchapter.com/moonbirds-vs-budblockz-which-nft-collection-should-you-go-with/ https://coinchapter.com/moonbirds-vs-budblockz-which-nft-collection-should-you-go-with/#respond Thu, 01 Dec 2022 12:50:20 +0000 https://coinchapter.com/?p=246306 Non-fungible tokens (NFTs) are not just pieces of digital art; they are real assets. They have become crucial elements of the blockchain industry, which reflects in the real world.  Should you invest in NFT in 2023? It’s not even a question anymore. It’s just a matter of which NFT collection you should put your crypto […]

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Moonbirds vs. BudBlockz: Which NFT Collection Should You Go With?

Non-fungible tokens (NFTs) are not just pieces of digital art; they are real assets. They have become crucial elements of the blockchain industry, which reflects in the real world. 

Should you invest in NFT in 2023? It’s not even a question anymore. It’s just a matter of which NFT collection you should put your crypto in. 

There are two smart choices for 2023: Moonbirds and BudBlockz. Which NFT Collection should you go for?

Moonbirds

Moonbirds are a collection of utility-enabled profile pictures (PFP) that feature a diverse pool of rarity-powered traits. There are 10,000 birds with unique characteristics in the collection, and each Moonbird provides a key to private club membership and other benefits. 

Entry into the club means gaining access to various exclusive projects and the Highrise metaverse. There is also a nesting process for your Moonbird—when that has been completed, you will start receiving benefits. The nest will be upgraded to higher tiers with better drops and rewards. 

However, Moonbirds is yet to announce the rewards and tiers. 

There is a PROOF Discord for the Moonbird-owning community. 

BudBlockz

BudBlockz calls its native NFT Ganja Guruz. The name is an ode to what BudBlockz is about: the first decentralized online ecommerce establishment for cannabis enthusiasts.

The Ganja Guruz collection is centered on weed, as well. It features 10,000 unique weed-loving characters designed with 1990s nostalgia. The collection features styles inspired by the era’s most popular fashion, animation, and video game trends. 

BudBlockz aims to establish a fair and open platform for cannabis enthusiasts to gain access to the global market while maintaining privacy and leveraging decentralization. To enjoy the benefits, one must have the BudBlockz NFT, which will serve as official membership in the community. 

NFT ownership also comes with other benefits, including possible fractional ownership of cannabis farms and dispensaries. Marijuana is a growing market, and as it expands, BudBlockz farms and dispensaries will also grow. Ganja Guruz holders will have a chance to earn dividends in the process. 

Ganja Guruz holders will also receive discounts on cannabis products from BudBlockz dispensaries and online stores, which are operated within jurisdictions where weed is legal. 

Anybody who wishes to transact within BudBlockz dispensaries can use $BLUNT for the exchange, which is more private, secure, and safe. 

Which NFT Collection Should You Go With?

If you have money to invest, you should go with both. Moonbirds and BudBlockz have a lot of potential. Diversifying your NFT collection and investments is also wiser to ensure maximum gains. 

However, if you have to choose just one, BudBlockz has more transparent advocacy. The brand aims to help the cannabis industry grow by bringing it into the crypto world—marijuana still lacks mainstream acceptance because it is not legal in many territories. 

Moreover, Ganja Guruz’s benefits are very clear. Ownership allows a stake in cannabis farms and dispensaries, including discounts. Moonbirds is yet to announce rewards tiers and ownership benefits. 

To mint your own BudBlockz Ganja Guruz NFT visit: https://budblockz.io/nfts

Once on the page click the “Mint Now” button and connect your ERC20 compatible wallet. You will be able to mint your Ganja Guruz NFT for 0.09 ETH. 

Use the promo code “CYBERWEEK” to receive a 20% bonus on your $BLUNT purchase before 5 December 2022.

Purchase or learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

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Oryen Network ICO Continues, Early Buyers Up 200% As Cardano And VeChain Holders FOMO In https://coinchapter.com/oryen-network-ico-continues-early-buyers-up-200-as-cardano-and-vechain-holders-fomo-in/ https://coinchapter.com/oryen-network-ico-continues-early-buyers-up-200-as-cardano-and-vechain-holders-fomo-in/#respond Thu, 01 Dec 2022 12:43:56 +0000 https://coinchapter.com/?p=246300 Many cryptocurrencies are struggling at the moment, with the bear market fully set in and projects losing value daily. One crypto that has not felt the effects in any way, however, is Oryen Network. This market-leading asset has generated 200% profits for the earliest investors and has caused a flurry of the Cardano and VeChain […]

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Oryen Network ICO Continues, Early Buyers Up 200% As Cardano And VeChain Holders FOMO In

Many cryptocurrencies are struggling at the moment, with the bear market fully set in and projects losing value daily. One crypto that has not felt the effects in any way, however, is Oryen Network. This market-leading asset has generated 200% profits for the earliest investors and has caused a flurry of the Cardano and VeChain communities to move capital into ORY.

Oryen Network Presale

Oryen Network has a staged presale, with each subsequent stage increasing in price and any bonus allocation of tokens decreasing. Those that get in early are due some incredible future returns.

With the price at the time of publication sitting at $0.15, and the launch price set at $0.35, this presale isn’t for VCs but allows any investor to reap the rewards of early funding.

What Is Oryen Network?

Oryen Network is an investor-oriented project, designed to bring the best utility to those with long-term belief in the concept. 

The key to Oryen Network’s success so far and the anticipated adoption in the future is accessibility to the general public. Being easier to use and interact with has always equated to higher interest in a project. Here’s why Oryen Network is so interesting:

1: The project is easily accessed by all.

  • There are no required staking contracts to receive staking rewards, holders can earn from the safety of their own wallets. 
  • Oryen Network will be launched on BNB Chain, one of the most used blockchains today

2: Safety.

  • With tokens staying in users’ wallets while earning, there is no risk of asset loss
  • A Risk-Free Value (RFV) wallet accumulates value to deploy in volatile times to support the ORY token price

3: Use Case.

  • With an astounding 90% APY, this is a fantastic way of ensuring assets keep up with dollar inflation that is currently happening

Last Words

The news about Oryen Network is getting out and has been seen floating around in Cardano and VeChain community chats, even appearing on the list of Best Altcoins.

With time diminishing fast towards launch time and the price getting higher each week, action now will be more profitable than waiting ‘to see what happens.’

For More Information:

Join Presale: https://presale.oryennetwork.io/register

Website: https://oryennetwork.io/

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India will Beat Japan and Germany to Become 3rd-Largest Economy — Morgan Stanley https://coinchapter.com/india-surpass-japan-germany/ https://coinchapter.com/india-surpass-japan-germany/#respond Thu, 01 Dec 2022 12:02:08 +0000 https://coinchapter.com/?p=246279 LAGOS (CoinChapter.com) — India will surpass Japan and Germany to become the world’s third-largest economy, according to S&P Global and investment bank Morgan Stanley. India’s GDP Will Cross $7.5T India’s gross domestic product (GDP) will likely cross $7.5 trillion by 2031. The forecast takes cues from India’s annual nominal GDP growth, which will likely average 6.3% […]

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India to emerge as a superpower and surpass Japan and Germany to become third largest economy
India will emerge as a superpower, ranked only after the United States and China.

LAGOS (CoinChapter.com) — India will surpass Japan and Germany to become the world’s third-largest economy, according to S&P Global and investment bank Morgan Stanley.

India’s GDP Will Cross $7.5T

India’s gross domestic product (GDP) will likely cross $7.5 trillion by 2031. The forecast takes cues from India’s annual nominal GDP growth, which will likely average 6.3% through 2030.

“India is gaining power in the world economy, and in our opinion these idiosyncratic changes imply a once-in-a-generation shift and an opportunity for investors and companies.”

Morgan Stanley said.

Similarly, a United States Department for Agriculture Economic Research Service (USDA) projection revealed that India’s economy would surpass that of four developed nations — Japan, Germany, Britain, and France.

The estimate by USDA, based on data collated by World Bank and International Monetary Fund (IMF), assumes the Indian economy will expand annually at an average of 7.4% to $6.84 trillion by 2030. This will make the Asia country economy bigger than that of Japan ($6.37 trillion) and Germany ($4.38 trillion).

India’s annual economic output could also become twice the size of Britain’s ($3.6 trillion) and France’s ($3.44 trillion) in the next fifteen years. IMF’s managing director Christine Lagarde has repeatedly described India as a “bright spot” and predicted that it will surpass Germany by 2030.

The Indian Economy 2.0

Meanwhile, in its report entitled ‘Why This Is India’s Decade,’ Morgan Stanley highlighted global trends and policies that will lead to the emergence of a “New India.” It posited that India would drive a fifth of global growth through the end of this decade.

Notably, India’s economic growth is estimated to push the number of households earning by almost fivefold in the coming decade. The rising household earnings imply that GDP will likely double by the end of this decade.

Moreover, India’s per-capita income is expected to rise from $2,278 to $5,242 in 2031, setting the stage for a discretionary spending boom.

India's overall consumption could more than double as income distribution in the country shifts.
India’s overall consumption could more than double as income distribution shifts. Source: Morgan Stanley.

Furthermore, the report indicated that the number of people employed in India for jobs outside the country is likely to double to over 11 million. It will invariably boost India’s global spending on outsourcing from $180 billion per year to around $500 billion by 2030.

Furthermore, the report estimates that India’s manufacturing share of GDP will rise to 21% by 2031. It implies an incremental $1 trillion manufacturing opportunity. India’s global export market share is expected to double to 4.5% by 2031.

Consequently, India’s services exports will almost treble to $527 billion from $178 billion recorded last year.

ALSO READ: India to Replace China as New Asian Power Amid G20’s Criticism of Russia

Other sectors highlighted by the report to witness a significant boost include;

  • E-commerce to double from 6.5% to 12.3% by 2031.
  • The workforce in the technology services sector is to jump from 5.1 million in 2021 to 12.2 million in 2031.
  • Healthcare in India is to rise from 30/40% to 60-70%.
  • The energy sector is to witness around $700 billion in growth.
  • Internet users to increase from 650 million to 960 million.
  • Online shoppers will grow from 250 million to 700 million over the next 10 years.

US, China Will Continue To Lead The Global Economy

Meanwhile, despite the impressive growth India is estimated to record, the US will continue to be the global leader, closely followed by China.

According to USDA, the US will continue to dominate globally with an annual economic output of $24.8 trillion in 2030. However, it is estimated to grow by an average annual 2.1% from $16.97 trillion in 2016. China will close the gap with the US by growing its GDP by 5.3% to $ 19.2 trillion by 2030 from $ 9.4 trillion in 2016.

Interestingly, it’s important to note that India expected to emerge as a superpower ranked only after the US and China. Notably, management consultant PricewaterhouseCoopers (PwC), in a report entitled “The World in 2050,” said by 2040 will be a superpower.

It said India’s GDP in purchasing power parity would grow to $30 trillion from $8.7 trillion in 2016. While the US will grow from $18.6 trillion to $28.3 trillion in the same period. Also, China will continue to dominate, with its GDP rising from $21.3 trillion to $47.4 trillion by 2040.

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XRP Price Breaking This Confluence Resistance Could Spark Strong Surge https://coinchapter.com/xrp-price-breaking-confluence-resistance/ https://coinchapter.com/xrp-price-breaking-confluence-resistance/#respond Thu, 01 Dec 2022 10:59:47 +0000 https://coinchapter.com/?p=246271 New Delhi(CoinChapter): Ripple’s XRP is rising steadily above $0.38. The price could start a strong surge if there is a daily close above the $0.412 resistance. Ripple (XRP) Price Eyes Upside Break After forming a base above the $0.315, ripple price started a fresh increase against the US Dollar. The price was able to clear […]

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Ripple (XRP) Price Eyes Upside Break
Ripple (XRP) Price Eyes Upside Break | Photo by Alesia  Kozik

New Delhi(CoinChapter): Ripple’s XRP is rising steadily above $0.38. The price could start a strong surge if there is a daily close above the $0.412 resistance.

Ripple (XRP) Price Eyes Upside Break

After forming a base above the $0.315, ripple price started a fresh increase against the US Dollar. The price was able to clear the $0.335 and $0.350 resistance levels.

The upward move gained pace above the $0.365 level and the 50-day simple moving average (blue). XRP price was able to clear the 23.6% Fib retracement level of the key decline from the $0.5100 swing high to $0.3145 low.

Ripple’s daily price chart
Ripple’s daily price chart | Source: XRP/USD on TradingView.com

In the past two days, there was a decent increase above $0.380, similar to bitcoin and ethereum. There is also a key bullish trend line forming with support at $0.3880 on the daily chart.

However, the price seems to be facing a strong resistance near the $0.410 and $0.412 levels. It is close to the 50% Fib retracement level of the key decline from the $0.5100 swing high to $0.3145 low. A clear upside break and close above $0.412 might start a strong increase.

The next major resistance is near the $0.428 zone and the 50-day simple moving average (blue). A clear wave above the $0.428 level could push the price further higher to $0.445.

Failure?

Any more gains might set the pace for a test of the $0.500 resistance. If ripple price fails to clear the $0.412 resistance zone, it could correct lower. An initial support is near the $0.480 level and trend line zone.

A downside break below the trend line support might send the price towards the $0.365 support. The main support is near the $0.350 zone. A close below $0.350 may perhaps start a strong decline. In the stated case, the price might even test the $0.315 support.

Overall, XRP price is gaining pace above the $0.365 and $0.388 levels. If the bulls clear the $0.412 barrier, the price could rally towards the $0.45 level or even $0.50. Conversely, there might be a fresh drop towards the $0.350 level in the coming days.

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How Cryptocurrency Technical Analysis Can Reduce Trading Risks https://coinchapter.com/cryptocurrency-technical-analysis/ https://coinchapter.com/cryptocurrency-technical-analysis/#respond Thu, 01 Dec 2022 10:23:35 +0000 https://coinchapter.com/?p=244467 There are a few different ways to approach cryptocurrency technical analysis. One way is to look at the overall market trends and identify which coins are currently undervalued or overvalued. Another approach is to look at past price movements to predict future trends.

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Can cryptocurrency technical analysis reduces trading risks?
How Cryptocurrency Technical Analysis Can Reduce Trading Risks

There are a few different ways to approach cryptocurrency technical analysis. One way is to look at the overall market trends and identify which coins are currently undervalued or overvalued. Another approach is to look at past price movements to predict future trends.

What is Technical Analysis?

Technical analysis is a tool or method used to predict future price movements in the market by analyzing past market data. Therefore there is no need to look at any other factor when making investment decisions.

Traders can employ cryptocurrency technical analysis across multiple timeframes albeit they mostly prefer to apply them shorter timeframe, such as 1-hour, 4-hour, or daily charts.

How to Use Technical Analysis

There are a few different ways to use technical analysis when analyzing cryptocurrency. The most common way is to use charts and indicators to identify trends and predict future price movements.

Charts are used to visualize price data over a certain period. There are many different charts, but the most popular ones for crypto technical analysis are Candlestick charts and Bar charts.

Candlestick Charts

Candlestick charts are one of the most popular ways to visualize crypto price data. They show the open, high, low, and close prices for a certain period. They also have wicks that show the highest and lowest prices during that period.

Candlestick chart pattern illustration
Candlestick chart pattern illustration

There are a few things you can look for when analyzing candlestick charts. One is the shape of the candlesticks. If they are mostly long and thin, there isn’t much price movement, and the market is consolidating. On the other hand, if they are short and fat, there is a lot of price movement, and the market is volatile.

Another thing you can look at is the wicks. The longer the wicks, the more volatile the market is. The shorter the wicks, the more stable the market is.

Finally, you can look at the candlestick colors. Green candlesticks mean that prices went up during that period. Red candlesticks mean that prices went down during that period.

Bar Charts 

Bar charts are a standard tool in cryptocurrency technical analysis. Traders employ them to track an asset’s open, high, low, and close prices over a certain period.

Bar chart illustration
Bar chart illustration

While bar charts have some limitations (they only show one bar for each period, so they don’t show the wicks), they can still be a helpful tool for analyzing price action.

Here are a few tips for using bar charts to analyze cryptocurrency:

  •  First, look for patterns in the price action.

One of the most important things to look for when analyzing bar charts is patterns in price action. Price patterns can give you essential clues about the direction of the market.

Some common patterns to look for include head and shoulders, double tops and bottoms, triangles, and flag and pennant patterns.

  • Use support and resistance levels to identify reversals.

Another vital thing to look for when analyzing bar charts is support and resistance levels, lines where trend reversals occur.

To find support and resistance levels, look for areas where the market has repeatedly bounced off a certain price level. These areas identify potential entry and exit points in the market.

  • Use trendlines to identify the direction of the market.

They identify the market’s direction and find potential entry and exit points.

To draw a trendline, connect two or more lows (in an uptrend) or two or more highs (in a downtrend). The angle of the trendline will give you an idea of the trend’s strength.

  • Use moving averages to identify trends.

Moving averages are a technical indicator that is used to identify trends. They smooth out price action and make it easier to identify the market’s direction.

There are different moving averages, but the most common is the simple moving average (SMA) and the exponential moving average (EMA). Moving averages are used to identify both short-term and long-term trends.

  • Use oscillators to identify overbought and oversold conditions.

Oscillators are another technical indicator used to identify overbought and oversold conditions in bar charts. These conditions often precede reversals in the market.

Some common oscillators include the Relative Strength Index (RSI), the Stochastic Oscillator, and the MACD. Oscillators are best used with other technical indicators, such as support and resistance levels or trendlines.

These are just a few tips for using bar charts to analyze cryptocurrency. Of course, technical analysis is a complex subject, and other tools and techniques are used to find trading opportunities. However, these tips should give you a good starting point for your research.

Basic Assumptions Behind Cryptocurrency Technical Analysis

Technical analysis is based on a belief that price reflects all available data. The core notion behind cryptocurrency technical analysis relies on historical trading data and its potential to repeat itself in the future.

1. Prices move in trends – The second assumption is that prices move in trends. A trend is a bias towards a particular direction – up, down, or sideways.

2. History repeats itself – The third assumption is that history repeats itself. This means that past price patterns mirror future price movements.

3. Market cycles exist – The fourth and final assumption is that market cycles exist. This means that there are periods of bullish (rising prices) and bearish (falling prices) sentiment which repeat over time.

Technical Analysis Tools and Indicators

The most common indicators and tools that strengthen one’s cryptocurrency technical analysis skills include moving averages, support and resistance levels, and Fibonacci retracements.

Moving averages smooth out price action and help identify the trend. The most common moving averages are the 10-period, 20-period, and 50-period moving averages.

Moving Averages illustration
Moving Averages illustration

Traders use support and resistance levels to identify potential turning points in the market. They identify areas where there has been a significant amount of buying or selling pressure to find potential buying and selling opportunities.

how to trade support and resistance levels in cryptocurrency technical analysis
Support and resistance levels illustration for cryptocurrency technical analysis

Professional traders employ Fibonacci retracements to identify potential support and resistance levels, defined by Fib lines 23.6%, 38.2%, 50%, 61.8%, and 100%.

The MACD (moving average convergence divergence) is a momentum indicator that identifies trend changes. Mathematically, the MACD line is the difference between a 26-period exponential moving average from a 12-period exponential moving average.

The RSI (relative strength index) oscillator ranges from 0 to 100. Traders use it to identify overbought and oversold conditions in the market, with an RSI reading above 70 signalings “overbought” and below 30 “oversold” conditions.

Cryptocurrency technical analysis helps identify potential trading opportunities. However, it is essential to remember that technical analysis is not an exact science, and there is no guarantee that any given signal will result in a profitable trade.

Pros and Cons of Using Technical Analysis

Technical analysis has pros and cons that you must consider before using it as your primary method of analyzing cryptocurrency.

Pros:

  • Technical analysis is effective in identifying trends.
  • It is used to make predictions about future price movements.
  • It is a quantitative analysis method, meaning it is applied objectively.
  • It is easy to learn and use.

Cons:

  • It is difficult to predict short-term price movements.
  • It does not consider fundamental factors such as news or events that could impact the price.
  • It can be influenced by human emotion.
  • It can be challenging to interpret.

Conclusion

Technical analysis is important for crypto traders because it can give them an edge in the market. However, fundamental analysis is important for long-term investors. It can help them understand the underlying value of a coin and make more informed investment decisions.

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Cryptocurrency Billionaire Died in a Suspicious Helicopter Crash Outside Monaco https://coinchapter.com/cryptocurrency-billionaire-died-suspicious-helicopter-crash/ https://coinchapter.com/cryptocurrency-billionaire-died-suspicious-helicopter-crash/#respond Thu, 01 Dec 2022 09:08:12 +0000 https://coinchapter.com/?p=246224 Crypto billionaire Vyacheslav Taran, the founder of crypto exchange Libertex and Forex Club, the largest operator of the Forex market in CIS, died in a helicopter crash outside Monaco on Nov 25.

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Cryptocurrency Billionaire Died in a Suspicious Helicopter Crash Outside Monaco
Crypto billionaire helicopter crash

YEREVAN (CoinChapter.com) — Crypto billionaire Vyacheslav Taran, the founder of crypto exchange Libertex and Forex Club, the largest operator of the Forex market in CIS, died in a helicopter crash outside Monaco on Nov 25.

Fivos Papadopoulos, head of the PR and communications department at Libertex Europe, confirmed the news RIA Novosti on Nov 28.

With great sadness, Libertex Group confirms the death of its co-founder and chairman of the board of directors, Vyacheslav Taran, after a helicopter crash that happened on the way to Monaco on Friday, November 25. Vyacheslav left his wife Olga and three children

read the Libertex announcement.

In detail, Taran founded Forex Club in 1997, becoming one of Russia’s three largest forex dealers. However, in 2018, the Central Bank of the Russian Federation revoked the licenses from the company, and now it operates as an online broker under the Libertex Group brand. 

This online platform allows transactions in the field of cryptocurrencies and investments.

The cause of the accident is not yet identified. However, according to RIA, an ongoing investigation will shed more light on the circumstances of Taran’s death. Meanwhile, the said circumstances are reportedly “suspicious.”

Also read: Bitcoin Accumulation Hits Record High amid Massive Crypto Yield Collapse

Crypto Billionaire Death Crash is “Suspicious”

According to the news reports, the helicopter crashed in clear weather and was subject to regular maintenance. Additionally, another “unidentified passenger” was supposed to join Taran on the VIP helicopter, but he decided against it at the “last minute.”

A Kyiv news agency, UNIAN, alleged that his operations were linked to the “Foreign Intelligence Service of the Russian Federation.”UNIAN also entertained the possibility that Taran was tied to “laundering Russian funds through a system of cryptocurrency operations.”

However, the news agency failed to publish any proof in that report.

The lack of investigation details further prompted a well-known Ukrainian political scientist Taras Berezovets to suggest that Taran “staged his death to turn a new leaf.”

Meanwhile, Vyacheslav Taran’s death continued a chain of two other accidents among crypto billionaires. On Nov 23, sources reported that Tiantian Kullander, the “Hong Kong crypto king,” died “in his sleep” at age 30.

The crypto magnate previously worked at Morgan Stanley and Goldman Sachs, and his passing has “sparked conspiracy theories” after crypto millionaire Nikolai Mushegian also died last month. Another crypto millionaire, Nikolai Mushegian, aged 29, drowned on a Puerto Rico beach in early November.

However, the circumstances of his death are more than controversial. According to the New York Post, the young developer tweeted about his imminent death at the hands of CIA agents.

While conspiracy theories flourish around the mentioned crypto tycoons, Vyacheslav Taran’s death is under investigation.

Click here to keep up with the ever-changing crypto market and never miss the scoop!

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