Green is The New Gold: The Top 3 Blockchain Projects Saving the Planet
In recent decades, discourse around the environment has become more significant and everpresent. People are rightfully worried about how our technologies affect our global ecosystem. With the recent heatwaves and fires that spread around Europe this summer, the topic of climate change has been on everybody's lips.
Blockchain tech is often a primary antagonist when the environment is discussed. Bitcoin is regularly cited as being deeply energy hungry and detrimental to the preservation of our world. However, several projects in this industry have the opposite effect, directly helping the environment. Let’s delve into three crucial blockchain projects that are making an effort to bring positive environmental change.
Megatech
Megatech is a project that promotes and incentivizes the use of solar power within Africa. To do this, Megatech has launched a cryptocurrency that gives token holders returns on the solar fields that the company owns. When these solar fields are used, token holders earn more money, incentivizing people to fund and promote sustainable energy sources.
Megatech is already in motion to set up one of its solar fields (named Project Beta) in Hertzogville Free state, South Africa. It is a 60-megawatt plant connected to a 100-megawatt per hour (MWh) state-of-the-art storage technology unit. This allows for maximum efficiency and, therefore, maximum sustainability.
The idea behind Megatech is to help solve the energy supply crisis in South Africa, where there is not enough electricity within the country to sufficiently power its national grid, causing blackouts and shortages. However, Megatech is also looking to help the global effort to bring sustainable energy, as they have teamed up with ZPN Energy, a UK energy and storage provider.
Nori
Nori is a blockchain-based carbon removal company aimed at helping people and organizations reduce or neutralize their carbon footprint. To do this, Nori has created a carbon removal marketplace– this is where people can choose to offset or eliminate their carbon footprint by paying other companies to remove carbon from the atmosphere. Currently, the marketplace focuses on allowing people to fund agriculture projects that store carbon within the soil.
When somebody pays for carbon removal on the marketplace, their transaction is logged to the blockchain. They are subsequently given a verifiable certificate proving they have made a positive environmental change. This is especially important as the carbon credit, and removal industry is rife with fraudulent behavior, pushing companies to use traceable and publicly visible records to prevent this.
Rewilder
Rewilder is a crypto-based non-profit focused on purchasing land for wildlife conservation. The project asks users to donate Ethereum, which goes directly towards purchasing and preserving land worldwide. After donating, each user is issued a special NFT that provides regular updates on how their money has been used and what environmental impact they have instigated.
Like Nori, Rewilder is mindful of the need for transparency regarding environmental procedures. Therefore, everything that happens within this project can be tracked and traced via the Ethereum blockchain. People can even find the specific location of the land they helped to conserve via their NFTs.
Shifting Perspectives
These three projects actively change the discourse around blockchain tech and the environment. They are moving the needle away from the damaging practices that projects like Bitcoin have been shown to employ and towards more eco-conscious efforts. And by doing this, they are changing people's opinions of blockchain tech and proving that this industry can act as a bastion of hope for the world.
The crypto and blockchain industry is becoming a champion of the environment, with Megatech and other projects leading the charge to transform the world back to a state of ecological and climate harmony.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Vitalik Buterin Defends Tornado Cash Use Cases Amid U.S. Sanctions
Days after the U.S. government announced sanctions against crypto mixing platform Tornado Cash, Ethereum co-founder and alpha developer Vitalik Buterin opined on the matter, defending the platform's use case for legitimate contexts.
According to Buterin, Tornado Cash is an example of a platform that can be used for legitimate use cases, such as donating to causes that are politically contentious. Buterin, for one, admitted that he has used the platform to donate to Ukraine, which has been needing aid from the international community due to its present geopolitical conflict with Russia.
I'll out myself as someone who has used TC to donate to this exact cause.
— vitalik.eth (@VitalikButerin) August 9, 2022
Donations in solidarity with Ukraine's predicament have poured in from around the world, and the concern with regards to the privacy measures in place for doing so have abound since then. Crypto mixing platform Tornado Cash has been identified as one of the key services used for this purpose.
In recent weeks, the U.S. Department of Justice (DoJ) has been scrutinizing crypto mixer services such as Tornado Cash for possible links to criminal activity, leading to the U.S. Treasury instituting a ban for alleged laundering of "proceeds of cybercrimes," among other reasons.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has placed Tornado Cash on its sanctions list, meaning that any crypto addresses associated with the platform are now blocked from receiving crypto from U.S.-based wallet services or exchanges. The OFAC has also warned that Americans who transact with sanctioned entities could face civil or criminal penalties. Despite this, Buterin argued that crypto mixers like Tornado Cash can still be used for legitimate purpose.
This move by the U.S. government is seen by the crypto community as yet another attack on crypto privacy and consumer privacy rights in general, with some even going so far as to call it a declaration of war against crypto users who value their privacy rights.
"Wanting to donate to Ukraine is a great example of a valid need for financial privacy. On this note, curious if there are documented examples of TC having been used for this," shares Jeff Coleman, co-founder of Counterfactual.
As a smart contract mixer built on Ethereum, Tornado Cash was built with privacy and security as its first principles, with its code fully open sourced and community-controlled. No single entity can manipulate the platform and decide on its evolution. The Tornado Cash platform relies solely on a decentralized decision process to forward upgrades to its protocol, ensuring that the protocol lives on without interference from bad actors.
According to the U.S. Treasury alleges that the platform “has been used to launder more than $7 billion worth of virtual currency since its creation in 2019,” including some $455 million stolen by the infamous Lazarus Group, a group of threat actors involved in recent DeFi heists. Sources from the U.S. state intelligence service also point to the DPRK (Democratic People's Republic of Korea) as the state sponsoring this said group.
Tornado Cash has disclosed that its operations have also been affected since the ban, despite the sanctions only going for the U.S. jurisdiction. According to its co-founder, Roman Semenov, his GitHub account has been suspended, with resources for the platform also being suspended. This includes the platform's smart contract addresses linked to Circle (for stablecoins) and for the Infura RPC (for its Web3 gateways).
These sanctions have sent shockwaves across the industry, prompting discussion among policy and lobbying groups. Jerry Brito, executive director at Coin Center, says that the sanctions were implemented on a tool that was designed to be neutral in character. Coin Center is a non-profit that works for the benefit of pushing policy issues in the crypto sector.
Blockchain Association's Head of Policy, Jake Chervinsky, opined that despite their association's support for the U.S. Treasury's rationale for the sanctions, they reserve some concern over the fact that the ban "crosses a line that the US government has always respected [and] should continue to uphold as a matter of good policy." According to Chervinsky, the decision "to sanction a decentralized protocol, threatens that smart [and] balanced approach to crypto," referring to the Treasury's previous decisions which have largely been supportive of the crypto sector.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
X Open Hub Adds 30 New Cryptocurrencies and 2 Emerging Market Indices to its Vast Asset List
Global provider of cutting-edge liquidity and technology solutions for financial institutions, X Open Hub has announced additions to its vast multi-asset offerings. The company has introduced 30 new cryptocurrencies and two emerging market indices, CH50cash and IND50cash, to the 5000+ global instruments it already offers.
With 12+ years experience offering world-class technology and transparent liquidity solutions for banks and brokers, X Open Hub is committed to supporting financial firms. The company aims to help them achieve cost-optimized business models through improved operational efficiency and increased profitability.
The Crypto Winter Is Ending Say AnalystsDespite the ongoing cryptocurrency winter, millennials and Gen Zs are increasingly looking at digital assets for investment purposes. A rise in awareness and education regarding this class of assets, along with their low correlation with price moves in traditional investment instruments, has been driving this interest.
Increasing regulatory oversight across numerous countries is expected to lend stability to the digital asset class. Additionally, the rise of DeFi projects is also likely to drive interest in cryptocurrencies. Moreover, the decline in crypto prices in recent months has many investors wondering whether to buy the dip before the crypto winter ends.
Historically, there have been four such crypto winters, including the current one. Each time, the market has reversed within around a year. So, investors might be looking at acquiring digital currencies while the prices are still low and before the market begins to rise once again.
X Open Hub Adds 30 New CryptosBrokers are increasingly looking at offering their clients opportunities to trade the most popular and promising digital currencies. X Open Hub has added 30 new cryptocurrencies to its already long list of crypto offerings.
The new crypto offerings available through X Open Hub’s liquidity solution are extensive and include:
AAVE, ALGORAND, APECOIN, CHILIZ, COSMOS, CRONOS, CURVEDAO, DECENTRALAND, DYDX, ELROND, FANTOM, FILECOIN, FTX, GALA, GRAPH, INTERCOMP, IOTA, KILOSHIB, KYBER, MAKER, METAL, NEO, SANDBOX, STEPN, SUSHI, TRON, VECHAIN, WAVES, ZCASH and ZILLIQA.
“We believe brokers need to stay abreast of trends and should perceive a wide range of cryptocurrencies as an additional tool to attract new customers or manage their retention. In the last quarter, we devoted a lot of attention to developing our asset class offering and equipping our partners with all the tools necessary to remain competitive in the market,” stated Michael Copiuk, CEO of X Open Hub.
IND50cash and CH50cash
X Open Hub has also added the IND50cash and CH50cash indices to its liquidity offerings. The IND50cash is based on the Nifty 50, the benchmark index that includes 50 of the most profitable companies across 12 sectors listed on the Indian stock markets. This makes it a well-diversified index. Alternatively, the CH50cash, is based on the China A50, a pan-China benchmark index that includes the top 50 companies, based on market cap, listed on the Shanghai and Shenzhen stock exchanges.
A Global Leader
Established in 2010, X Open Hub is the institutional arm of the XTB, which is listed on WSA and licensed across multiple jurisdictions, including the UK FCA, CySEC, IFSC, FSCA, and more. XOH has created a niche by providing complete front- and back-end technology and responsive support to propel growth for financial firms. X Open Hub’s solutions include deep institutional liquidity on more than 5,000 global instruments, including indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a powerful white label platform that can be fully customised and branded for each brokerage. X Open Hub also offers multiple integration options to ease operations for brokers, such as FIX protocol, xAPI, MT4/MT5 Bridge or Gateway, and integration with Prime XM, Gold-I, oneZero, and more. This has helped the company gain over 100 clients across more than 30 countries within a decade of being launched.
Speak to the X Open Hub Team about cryptocurrencies and emerging market indices.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Chronoly.io Maintains 560% Growth For Weeks, Tezos (XTZ) And Stella (XLM) Continue Downward Spiral
The cryptocurrency market remains an uncertain terrain to dive into without proper trading skills and the knowledge of how the market works. Today, the market is up with investors "cashing out" big time. The next few minutes, the same investors are counting their losses.
Despite the fluctuating nature of the crypto market, there are still some tokens that have managed to sustain their growth trajectory. These tokens have an experienced developmental team that has left no stone unturned in a bid to offer their users more value. Chronoly.io is a novel token that suits this description.
While Chronoly has continued to maintain a 560% gain for weeks now, Tezos (XTZ) and Stella (XLM) appear to be on a downward trend.
Read on to find out what the respective projects are doing to beat the negative market sentiment.
Chronoly.io Has Everything To Surpass Popular Tokens
Chronoly (CRNO) has been predicted to be the next big thing to happen in the crypto and NFT market. Despite the prolonged bearish market that plummeted the prices of most cryptocurrencies, Chronoly.io (CRNO) token maintains 560% growth for weeks. "Chronoly is bound to refine the NFT and cryptocurrency space," an investor who just purchased the token in the presale said. Chronoly.io is an Ethereum-powered marketplace offering fractional investments in luxury watches on a DeFi. Chronoly's focus is to lower the financial barrier of participating in the luxury watch investment business.
CRNO, the project's native token, comes with lots of real-world use-cases, including granting token holders access to club membership and earning passive income from staking. The Chronoly.io team plans to collaborate with big influencers in the metaverse gaming space to offer more value to gamers and investors.
Industry experts have predicted that the price point of CRNO might hit $1 in the coming weeks if the team continues in this trajectory. Including CRNO in your portfolio can be a game-changer, as the project is still in its early stage. Chronoly'sroadmap highlights different activities for its phrase three, including building strategic partnerships, expanding influencer outreach, and launching a lending protocol.
Tezos (XTZ) Continues To Innovate To Offer Value
Tezos (XTZ) has continued to suffer a price setback despite a halt in the global prices of most cryptocurrencies. The Tezosteam has promised users that it will continue to improve on its outlook to offer more value. Experts believe that improving Tezos' use-cases will further stabilize the token price point.
Tezos is a smart contract platform that developers can leverage to create decentralized applications. It gained prominence as one of the leading blockchain-based projects to first implement the proof of stake consensus algorithm. Despite the fact that projects like Cardano and Solana have also implemented the proof of stake consensus algorithm, Tezos has not slowed down its innovative drive. Its native token, XTZ, has a wide range of use cases, including for the payment of goods and services on the Tezos protocol. Token holders can also use the token to participate in governance voting.
Founded in August 2014 by Arthur and Kathleen Breitman, Tezos has a foundation geared towards supporting the community members. As of press time, Tezos (XTZ) trades for $1.78 USD with a 24-hour trading volume of $37,273,070 USD.
Stella (XLM) Announces Smart Contract Platform “Soroban”, Plans To Extend Gains
In the last 24 hours, Stellar (XLM) has been trending downward. This may not be unconnected to the global market sentiment. Popular coins like Bitcoin and Ethereum nosedived during the crypto waves, and now they are ready to enter into support. In a bid to offer more value to users and extend its gains, the Stellar (XLM) developmental team recently launched a smart contract platform known as "Soroban." The initiative to launch Soroban is part of the company's drive to encourage massive token adoption and offer more value to users globally. The announcement invited developers to jump on the bandwagon to create their own unique contracts.
Once Soroban becomes active, Stellar (XLM) will provide users with a wide range of use cases, including transforming payment systems to compete with major blockchains like Ethereum. The team's focus is to provide investors and traders with an accessible, user-friendly, and scalable platform. Soroban has the potential to revolutionize the smart contract niche in the crypto industry. Soroban will be independent of the Stella (XLM) network but will be paired with XLM to provide users with equitable access and accessibility.
According to Stella's (XLM) roadmap, the team plans to improve on the project in terms of participation, demand, and scalability. As of press time, Stella (XLM) trades at $0.114885 USD with a 24-hour trading volume of $126,162,543 USD.
For more information about Chronoly.io presale
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
All U.S. Crypto Exchanges Including Binance to be Investigated by SEC
According to a staffer from the office of United States Senator Cynthia Lummis, every exchange in the country, as well as Binance, is reportedly being investigated by the U.S. Securities and Exchange Commission (SEC).
Crypto Exchanges Under Investigation
Per a report from Forbes quoting an unnamed staffer from Senator Lummis’ office, the SEC is reportedly probing Binance and every exchange in the United States. There have also been widely circulated reports that the SEC is investigating the $20 billion exchange Coinbase. According to the source, the SEC is seeking to establish itself as the country’s chief crypto regulator as it battles it out with the U.S Commodity Futures Trading Commission for oversight and regulation of the industry (CFTC). Since 2014, the CFTC has maintained authority over “virtual currencies”, but the SEC has recently made its voice known indicating that it seeks to control the industry. The SEC's chairman, Gary Gensler has said on multiple occasions that many tokens might qualify as unregistered securities, which would place them under the purview of the SEC, and last week gave its strongest hint yet that it intends to clamp down on the nascent industry.
Regulators Step Up Oversight
Regulations have up stepped oversight lately after the SEC charged a former Coinbase employee along with two associates for insider trading. The regulator has also claimed that the exchange let customers trade “at least nine” unregistered securities. The Coinbase insider trading allegations have sent shockwaves across the industry, and it has emerged that the regulator was probing Coinbase. Binance U.S. responded by delisting one of the tokens mentioned as a so-called unregistered security – AMP. Since the insider trading filing, SEC chairman Gensler has gone on record saying that he does not see a difference between cryptocurrency exchanges and traditional stock trading venues, continuing that there are “inherent conflicts of interest” with exchanges that act as market makers. The SEC’s wrath continued last week when it charged 11 people behind the Forsage website which it has called a “crypto pyramid scheme,” and which cost users $300 million.
While the SEC and the CFTC battle it out to establish who should have regulatory oversight of the industry, the Senate Agriculture Committee introduced a bill this week, if passed, would see Bitcoin and Ethereum classified as commodities and give the CFTC oversight of the exchanges that list them for trading.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Chronoly.io Price Remains Strong, Helium (HNT), Chainlink (LINK) Prices Drop
With the global crypto market starting to recover from its constant crashes, investors can start to breathe fresh air after losing so much during the crypto wind.
Chronoly.io, Helium (HNT), and Chainlink (LINK) are three tokens with great potential that can create a balance in your crypto holdings. While Chronoly.io remained strong with a 560% gain in the last few weeks, the duo of Helium (HNT), and Chainlink (LINK) struggled to bounce back recently.
Read on to find out how the three tokens are faring in the market!
Chronoly.io soothes investor nerves
Chronoly.io (CRNO) could not be more different from Helium (HNT) and Chainlink (LINK) in terms of their market performance in recent weeks. Chronoly (CRNO) has successfully piqued investors' interest following a 560% increase in its presale, which opened in early May 2022. The reason for the price appreciation may not be unconnected to the fact that Chronoly.io offers investors real-world value and it comes with revolutionary features.
CRNO, the project's native token, powers the world’s first blockchain-based fractional watch investment marketplace. Chronoly.io (CRNO) bridges the wide gap that appears between the real world and the virtual world of NFTs by tokenizing physical luxury watches. These watches are co-owned and authenticated on the blockchain. Users can trade small fractions of watches (just like stocks), borrow against their NFTs, and earn a passive income by staking their (CRNO) tokens.
The developmental team plans to partner with video games developers and various Metaverses so that users can showcase their watches in the digital world. Analysts remain bullish on the token with the price expected to reach $0.5 in the next couple of months. While Chronoly (CRNO) is still in presale, its roadmap shows that the team has lined up so many activities for its phase three. Some of the activities for phase three, include expanding influencer outreach, building strategic partnerships, and launching a lending protocol. Other activities are launching an NFT marketplace and a private members club, where users will enjoy a wide range of benefits.
Connecting with Helium (HNT)
The crypto wind might have done a lot of harm to so many crypto projects, and Helium (HNT) is not an exception. Despite announcing the release of two cryptocurrencies, the price point of Helium (HNT) plummeted nearly 4.1% in the last 24 hours. The company recently announced the release of MOBILE and IOT, which will launch in August. The launch of the tokens will further incentivize node operators so that they can contribute their coverage to Helium's network. HNT, the native token of the Helium blockchain, has a lot of use cases, including for the payment of goods and services on the Helium network.
According to the project's whitepaper, the company plans to turn Helium into a reserve currency, an initiative that will help the team to better focus on the two new cryptocurrencies once they hit the market. Experts believe that the rise and fall of the three tokens (HNT, IOT, and MOBILE) will largely depend on the success of Helium.
Launched in 2019 by an experienced team, Helium is a decentralized wireless Internet-of-things (IoT) network. The HNT token was created using the popular burn-and-mint equilibrium (BME) model. The project operates on a proof-of-coverage (PoC) consensus algorithm. You can mine Helium (HNT) via wireless devices with radio waves. At press time, Helium (HNT) trades for $9.32 USD with a 24-hour trading volume of $16,403,593 USD. If the downward trend continues, HNT might further nosedive to $8.56,$7.41 or $6.74. But if the trend reverses, then expect the price point to reach between $12.14,$16.72 and $21.49.
Chainlink (LINK) Forms 300 Million LINK Support Level
Chainlink also faced a sharp drop in its price point in recent weeks. On-chain data suggest that investors and traders alike might further dump the token, which can cause significant support for LINK, the project's native token at around $6.70. Chainlink's transaction history also suggests that one of the reasons for the price depreciation is the formation of over 7,000 addresses to grab the already existing 300 million LINK.
Chainlink (LINK) is both a crypto and technology platform that offers a service for non-blockchain actors to easily and securely connect with any blockchain platform of their choice. It's like a middleman that connects non-blockchain enterprises with external data like stock prices or baseball scores. Chainlink arrived on the crypto scene in 2017 amid a crowded field of projects. Since inception, the team has continued to deliver on its promises, including to expand the network beyond Ethereum (ETH). According to the project's whitepaper, the Chainlink team plans to collaborate with all blockchain-based contract networks.
At press time, Chainlink (LINK) trades $7.68 USD with a 24-hour trading volume of $722,352,199 USD.
For more information about Chronoly.io Presale
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Shiba Inu (SHIB) and Dogecoin (DOGE) holders sell and buy into Degrain (DGRN) presale
When looking for the most significant cryptocurrency investments to add to your portfolio, you must consider the investment that will yield the maximum profits. To find an investment with unique features that can guarantee a lucrative situation while investing is crucial. One of the most significant investment assets this year is Degrain (DGRN), which is expected to increase by more than 8,000% by the end of 2022.
Shiba Inu (SHIB) big whale sells to buy into Degrain presale
As Shiba Inu (SHIB) continues to push waves in the crypto market, investors are thinking more about it. The spring of cryptocurrencies is far from over, even though the latest market dip may have driven prices lower.
The company behind Shiba Inu (SHIB) is developing Web 3 technologies with the launch of its blockchain, Shibarium, and metaverse, Shibaverse. Shiba Inu (SHIB) is no longer merely a meme symbol. Future success will likely be aided by a strong community backed by significant decision-makers. However, there isn't much room for expansion compared to low-cap gems like Degrain (DGRN), which still have a way to go.
Dogecoin (DOGE) will see Degrain produce higher returns
An old online joke led to the development of Dogecoin (DOGE), the first meme cryptocurrency. When Dogecoin (DOGE) joined the AMC cinemas and became approved as a payment mechanism by sports teams in 2020, it started to show promise after a period of relative safety for some users following its inception in 2013. Dogecoin (DOGE) is one of the ten cryptocurrencies with the highest chance of producing millionaires in 2022. Dogecoin (DOGE) has been considered one of the most promising crypto investments for many years.
Degrain (DGRN) tipped to be the best investment in 2022
Degrain (DGRN) sold 50 million tokens in Phase Two after selling out its phase one allocation two weeks early. Several participants in the cryptocurrency market have already acknowledged this currency, and experts anticipate that it will soon surpass other NFT protocols like OpenSea to grab the top spot in the market.
Since the potential of this new coin has been recognized, cryptocurrency experts have voiced their thoughts, stating that Degrain (DGRN), at its current price of $0.06, offers the best return on investment. Degrain will be the best option if you seek a highly lucrative investment opportunity in the market for digital assets (DGRN). By the end of the year, we think Degrain has the highest potential of growing by 8,000 percent and being in the list of top ten cryptos.You can enter the presale by joining the link below.
Website: https://degrain.io
Presale: https://presale.degrain.io
Telegram: https://t.me/degrainio
Twitter: https://twitter.com/degrainio
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Crypto Daily - Daily Crypto And Financial News 27/07/2022, Coinbase Faces SEC Scrutiny
In Todays Headline TV CryptoDaily News:
Miners still looking to set up Texas operations.
Bitcoin miners are still looking to set up operations in Texas despite recent heat waves, but more sustainable techniques may help improve circumstances moving forward.
Illegal foreign exchange trading with Bitcoin probed in S.Korea.
Prosecutors in South Korea are reportedly investigating foreign remittances of over 2 trillion Korean won (US$1.5 billion) at the country’s banks on suspicions of money laundering by crypto speculators.
Big investigation.
Cryptocurrency exchange Coinbase is reportedly facing an investigation from the US Securities and Exchange Commission over whether it allowed users to trade unregistered securities.
BTC/USD dove 1.6% in the last session.
The Bitcoin-Dollar pair dove 1.6% in the last session. The RSI is giving a negative signal. Support is at 20341.3551 and resistance at 23143.9131.
The RSI is currently in negative territory.
ETH/USD plummeted 4.0% in the last session.
The Ethereum-Dollar pair dove 4.0% in the last session. The CCI's negative signal is in line with the overall technical analysis. Support is at 1325.5067 and resistance at 1664.6267.
The CCI is currently in the negative zone.
XRP/USD dove 1.7% in the last session.
The Ripple-Dollar pair dove 1.7% in the last session. The RSI's negative signal is in line with the overall technical analysis. Support is at 0.3185 and resistance at 0.3686.
The RSI is currently in negative territory.
LTC/USD plummeted 2.9% in the last session.
The Litecoin-Dollar pair dove 2.9% in the last session. The Ultimate Oscillator gives a negative signal, which matches our overall technical analysis. Support is at 50.7267 and resistance at 60.5467.
Daily Economic Calendar:
DE Gfk Consumer Confidence Survey
The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity, making it an indicator of consumer spending. Germany's Gfk Consumer Confidence Survey will be released at 06:00 GMT, Japan's Leading Economic Index at 05:00 GMT, and Australia's Consumer Price Index at 01:30 GMT.
JP Leading Economic Index
The Leading Economic Index is an economic indicator comprising 12 indices such as account inventory ratios, machinery orders, stock prices, and other leading economic indicators.
AU Consumer Price Index
The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services.
US Durable Goods Orders
The Durable Goods Orders measures the cost of orders received by manufacturers for durable goods, which means goods that should last three years or more, excluding the transport sector. The US Durable Goods Orders will be released at 12:30 GMT, Germany's 10-y Bond Auction at 09:30 GMT, and Japan's Coincident Index at 05:00 GMT.
DE 10-y Bond Auction
The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates.
JP Coincident Index
The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Three Arrows Capital Founders Break Their Silence, Reportedly Look to Move to Dubai
The founders of the now insolvent Three Arrows Capital (3AC) Su Zhu and Kyle Davies have broken the silence in an interview with Bloomberg. After almost five weeks in hiding, the disgraced founders gave an extensive interview about the implosion of their once very successful hedge fund, saying “their bungled crypto speculation unleashed cascading margin calls on loans that should have never been made.”
Zhu and Davies To Settle in Dubai
Per the report, the pair has described the collapse of 3AC as “regrettable,” but has vehemently denied any claims that they pulled money from the fund prior to its collapse. On the face of it, 3AC’s collapse was triggered by the fall of the Terra ecosystems that sent shock waves through the entire crypto market, and investors are claiming that the fund still owes them a whopping $2.8 billion. On Monday, the 18th of July, a court report revealed the full extent of 3AC’s debt following its collapse, with individual claims worth over $1 billion. The founders are still mum on the exact whereabouts, saying that they have received numerous death threats, but one attorney on the call said their ultimate destination is the United Arab Emirates. Zu added,
Given that we had planned to move the business to Dubai, we have to go there soon to assess whether we move there as originally planned or if the future holds something different for us.
Confluence Of Interrelated One-Way Bets And Borrowing Arrangements Blew Up At Once
In the report, Zhu said the reason for the fund’s demise was making leveraged trades with the hope that the crypto market would rebound to its former upside after many years of a bull run.
Zhu said,
We positioned ourselves for a kind of market that didn’t end up happening.
Davies added,
We believed in everything to the fullest. We had all of our, almost all of our assets in there. And then in the good times we did the best. And then in the bad times we lost the most.
The due say that at the same time, they aren’t outliers. They describe a confluence of interrelated one-way bets and borrowing arrangements that all blew up at once, leading to only their demise, but to the bankruptcy, distress, and bailouts at firms like Celsius, Voyager Digital, and BlockFi.
Zhu said,
It’s not a surprise that Celsius, ourselves, these kind of firms, all have problems at the same time. We have our own capital, we have our own balance sheet, but then we also take in deposits from these lenders and then we generate yield on them. So if we’re in the business of taking in deposits and then generating yield, then that, you know, means we end up doing similar trades.
The pair insist they are cooperating with the relevant authorities while at the same time trying to maintain a low profile.
For Kyle and I, there’s so many crazy people in crypto that kind of made death threats or all this kind of noise. We feel that it’s just the interest for everyone if we can be physically secured and keep a low profile.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Solana (SOL) and Cardano (ADA) See Holders Moving to New Crypto Token Degrain (DGRN)
Sometime in February 2022, Cardano (ADA) and Solana (SOL) occupied the 7th and 8th spots on the most valuable cryptocurrency list. The pair, two of the crypto world’s most-exciting blockchain innovations, have had quite a success story since their launch.
However, as they say, getting to the top is easier than staying put. Both cryptocurrencies have lost investors in the past few weeks. The investor exodus doesn’t seem likely to stop anytime soon. So, what has caught the attention of these two tokens? We will find out as we proceed.
Cardano (ADA) -
Named after Ada Lovelace, Cardano’s (ADA) operates a decentralized smart contract system. Built on a proof-of-stake consensus protocol, transaction validation is energy-efficient. Cardano (ADA) can execute at least 250 transactions every second, with a block time of two minutes.
Cardano’s native token, ADA, is worth $0.439 as of July 16th, 2022, and has been enjoying a bullish run of form. But for how long? The coin remains prone to being ditched for better promising tokens, as is presently the case. In the opinion of technical analysts, the Cardano token (ADA) will drop to $0.399 at the end of the year.
Solana (SOL)
Also running on a smart contracts platform, Solana came on the crypto scene in 2017. A brainchild of software expert Anatoly Yakovenko, the platform can run 50,000 transactions every minute and boasts a block time of thirteen seconds. Users can scale and enjoy low network fees while at it.
On the market, SOL stands at $37.38 per coin. Experts predict an 11.4% rise to $41.59 before the end of July, oscillating between $59.08 and $68.27 in December 2022.
Degrain (DGRN): Riding on the Waves
Degrain is the newest coin in town, sweeping the crypto world like a tornado and taking Cardano (ADA) and Solana (SOL) investors along. Who can resist the promising future of the world’s first cross-chain NFT marketplace? The platform aims to allow users to buy, sell, and trade NFTs on a different platform from where it was listed.
In an unlikely chance that you aren’t already aware, Degrainlaunched its presale first phase on July 7th. In only a minute, the platform sold over 11 million coins at its $0.01 price. Experts are predicting a 5,000% price rise which will produce an army of happy investors.
Degrain also charges low transaction fees on its platform while offering 100% discounts to its presale investors. Investing in Degrain could potentially be one of the highest potential investments this year and we highly recommend purchasing before the end of the first phase ending soon.
Website: https://degrain.io
Presale: https://presale.degrain.io
Telegram: https://t.me/degrainio
Twitter: https://twitter.com/degrainio
Disclaimer: This is a sponsored pressrelease andis for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
