Crypto Guides, Knowledge & Insights

Breaking News in Crypto: Market Analysis and Forecast.

Breaking News in Crypto: Market Analysis and Forecast.　　ABSTRACT:　　•Bitcoin trading services introduced into a renowned world financial institution with other two other big institutions pledging to accept Bitcoin as means of payment. 　　•UK records the greatest rise in Crypto Currency Holders with 2.3 million Holders in 2021.　　•First Class Paraguay Entertainment Group to Accept Bitcoin, Ether, SHIB as means of payment Starting from next month.　　•World Bank Rejects El Salvadors appeal for support in implementing Bitcoin as a legal tender.　　•Market Forecast for the Coming Week - Analysis and Predictions: Bitcoin and Altcoins at the greatest downside pressure and possibility of a great crash if support at 34K is broken.　　1.0 Leading Banking Giant BBVA Introduces Bitcoin Trading Service in Switzerland - the leading Economic Nation:　　The Crypto-friendly Switzerland arm of the Spanish Banking Giant BBVA has just launched this week a Bitcoin trading and custody services for its private clients. According to the companys official release made known to the public, the dive into the cryptocurrency ecosystem have been preceded by six months of testing in which the bank certified the demand, and interest in the growing asset class amongst its clients and sought to fulfill this demand.　　According to the CEO of BBVA Alfonso Gomez

2021-06-21Deep Dive

Dogecoin Skim Ponzi atau 'asset of the year' ?

Kenyataannya itu dilontarkan dalam satu poll yang dijalankan oleh ketua pegawai undang-undang dan setiausaha korporat di Coinbase, Paul Grewal di LinkedIn berkaitan penyebutan sebenar DOGE.　　“Sebutan sebenarnya ialah pon-zi.” Komen Kashkari, menerima 19 balas dengan 204 reaksi.　　Bagaimanapun, sebutan sebenarnya ialah: “Do-j”.　　Kashkari boleh dikatakan antara individu yang tidak gemarkan matawang kripto. Pada Februari 2020, individu tersebut memberitahu aset digital; Bitcoin (BTC) tidak sesuai dianggap sebagai matawang stabil. Malah, Kashkari turut memuji tindakan Securities and Exchange Commission (SEC) bertegas dengan penawaran syiling permulaan (ICO).　　Berbeza pula bagi CEO pertukaran FTX, Sam Bankman-Fried menganggap Dogecoin sebagai ‘asset of the year’ bagi 2020 dan 2021.　　Jelasnya dalam satu temubual terbaru dalam rancangan The Jax Jones dan MArtin Warner Show: “Apa yang telah diputuskan oleh masyarakat sejak tahun lalu telah mendekatkan kita dengan standard kewangan Dogecoin..Tapi, apakah yang membuatkan aset milik anda lebih baik daripada Dogecoin？ Tiada. Saya tahu ia sekadar meme tetapi itulah persoalannya.”　　Dogecoin bernasib baik kerana adanya Musk dan ini bukanlah satu perkara yang mengejutkan. Rata-rata pelabur DOGE juga mengetahui tentang itu dan bersedia situasi baik buruk yang juga berpunca daripada Musk.　　Ketika penulisan, DOGE didagangkan pada $0.26, susut lebih 3% dalam 24 jam. Aset ini mencatatkan paras tertinggi sepanjang masa (ATH), $0.73 pada Mei, membawa penyusutan

2021-06-21Deep Dive

UK Bank Bans Crypto Purchases From Binance and Kraken, Reports

British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud.　　According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country.　　TSB Could Be Cutting Ties With Crypto Exchanges For Safety Reasons　　The Times claims to have reliable information that TSB is going to ban the purchase of crypto with cash via Binance and Kraken. Apparently, the low security standards of these platforms facilitate the works of scammers, in particular the setup of e-wallets.　　According to the reports, TSB has received at least 849 fraud complaints between March 15 and April 15 by Binance users. The bank claims that all attempts to communicate with Binance have been unsuccessful. However, Binance says it has never received any messages from the banks security team.　　Without directly referring to TSB, a spokesman for Binance reiterated the exchanges commitment to working for the security of its customers, assuring that it is company policy to prioritize the issue:　　“Binance is very

2021-06-21Deep Dive

Central Bank of Portugal Grants Licenses to Crypto Exchanges

Banco de Portugal has granted operating licenses to local cryptocurrency exchanges for the first time ever.　　The central bank announced that the Portuguese exchanges Criptoloja and Mind the Coin were now classified as virtual assets service providers. They are currently the only two included on a list the bank issued on their website.　　Banco de Portugals decision has been nine months in the making. Criptoloja reportedly made their initial registration back in September 2020.　　On Portuguese soil, the license permits Criptoloja and Mind the Coin to carry out exchange services between virtual assets and fiat currencies, as well as between different virtual assets. It also covers them for transfer services, safekeeping and administration for those assets.　　Europe embraces crypto exchanges　　Portugal has been regarded in the past as one of the most crypto-friendly countries in Europe. Investor and blogger Jean Galea wrote in May that the country is “becoming a haven” for people involved in the crypto space. Cryptocurrency income remains exempt from VAT and capital gains taxes in the country, unless it comes from professional trading activity.　　However, Portugal is not the only European nation to look on crypto exchanges and services with favor recently.　　At the end of May, the Malta Financial Services Authority (MFSA)

2021-06-21Deep Dive

Bitcoin Volatility in July? 16K BTC Unlocking on Grayscale Coming Up

With the second quarter of 2021 almost done and July just around the corner, bitcoin might be headed towards a highly volatile month, and Grayscale could receive the blame. This is because one of the largest unlockings from GBTC will take place in the middle of the month as accredited investors will receive access to over $600 million worth of BTC.　　Volatility in July Because of GBTC Unlocking？　　Founded in 2013, Grayscale is the leading digital asset manager enabling institutional investors to receive exposure to BTC, and other cryptocurrencies, through its funds without having to worry about storing and managing their holdings.　　In return, they agree to pay a specific commission and to follow precise rules. One of which dictates that their Bitcoin holdings will be locked for six months. Meaning, once they purchase GBTC shares, they would have to wait half a year before receiving the chance to realize gains.　　With Grayscale‘s popularity blossoming in late 2020 and early 2021, numerous accredited investors used the company’s products to purchase shares, tracking the performance of the primary cryptocurrency.　　Consequently, some of them had their assets unlocked just recently, but the most substantial quantity will come on July 18th.　　As Bybt‘s graph demonstrates, Grayscale customers will receive

2021-06-21Deep Dive

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Chinas latest ban and crackdown on local crypto mining operations has been a nightmare for several Chinese operators. On Saturday, June 19, the Chinese authorities targeted the Sichuan province asking local government bodies to investigate and shut down Bitcoin mining operations.　　This has resulted in a severe drop in the BTC hashrate of Chinese mining pools while ultimately benefitting the American mining pools. Americas Foundry USA mining pool has made its way to the top ten spots and probably the only pool with an increased hashrate over the last 24 hours.　　Becoming the seventh most powerful mining pool is a major milestone for Foundry and comes within a very short span of time since its launch. Amid the recent crackdown, a number of Chinese miners have been shifting their operations to America.　　Places like Texas and Miami in the U.S. have already started wooing Chinese players by offering low-cost energy incentives. The Bitcoin-friendly Miami Mayor Francis Suarez by tapping into the citys clean nuclear power resources.　　The Drop In the BTC Hashrate of Chinas Biggest Mining Pools　　Amid the crackdown on the Sichuan province on Saturday, June 19, the BTC hashrate for one of Chinas biggest mining pools crashed down significantly. With this, AntPool dropped

2021-06-21Deep Dive

A deep dive into Polkadot’s tokenomics

Built using the Substrate blockchain framework, Polkadot is forming an ecosystem that both complements existing dApp infrastructure and provides new opportunities recognized by over 400 projects developing smart contracts, oracles, NFTs, DAOs, bridges, privacy, gaming, IoT, DEXs, and other DeFi solutions on the platform.　　At the heart of this expanding Polkadot ecosystem is the DOT token, going beyond just payments to facilitate various functions across the network. So what is DOT, and how can it be put to use in this blockchain of blockchains？　　What Is DOT？　　DOT is the native token of the Polkadot network, the smallest unit of which is known as a Planck.　　DOT is also an inflationary token, in contrast to the fixed supply monetary policy of protocols like Bitcoin. This is designed to incentivize the network by dynamically adjusting according to the participation rates of users, with a current supply of approximately 1 billion tokens.　　Other than serving ancillary functions as a transferable token, there are a number of key uses for DOT across the ecosystem from governance to staking, parachain auctions, and crowd loans.　　DOT for Governance　　Polkadot enables DOT holders to vote and participate in the governance of the network, including determining fees, parachain connections, and upgrades, alongside a Council

2021-06-21Deep Dive

Is Mining in Bitcoin Profitable?

Bitcoin is dubbed the key to great wealth. As for the investment in this regard, two methods can be adopted at present. Purchasing via exchanges is more convenient and faster but costly and highly risky while mining is time-consuming yet with lower risks. Therefore, is mining able to enrich traders？ The answer can be found herein.　　As jargon in the cryptocurrency field, mining refers to the process of producing Bitcoin via complex hashing algorithms and strong cryptography. With the system generating a block every ten minutes, the first miner who finds this block can have the right to add valid blocks to this blockchain. In this case, mining is profitable because miners can obtain Bitcoin as a reward in the wake of completing their work.　　The number of miners is increasing whereas Bitcoin is experiencing a crunch. A machine featuring higher performance is necessary for a trader who wants to profit more from Bitcoin. Returns are influenced by differences in prices, energy consumption, and processing power.　　In addition, the majority of miners choose to pool resources, sharing their processing power over a network, in a bid to guarantee the stability of their profits. This operation is quite understandable as it can protect them

2021-06-18Deep Dive

DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

Institutional asset manager Grayscale has announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products.　　Revealed on June 18, the prospective assets mainly represent the decentralized finance (DeFi) sector, including 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x.　　The native tokens of high-speed scalable blockchain networks Solana, Near, and Dfinity have also been added to Grayscales list of considered cryptocurrencies.　　The new additions bring the total number of assets being explored by Grayscale to 31. Grayscale currently offers products tracking the performance of 13 different assets.　　Grayscale emphasizes that “not every asset under consideration will be turned into one of [its] investment products,” and that certainly appears to have been the case for previously announced assets under consideration such as Cardano, Eos, and Tezos.　　Grayscale did introduce five new trusts on March 17, launching products for Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer. These five trusts currently represent just 0.1% of Grayscales $34.4 billion in assets under management (AUM).　　According to CoinShares, Grayscales trusts represent 75% of a total of $44.3 billion worth of assets managed in institutional crypto investment products.　　The Grayscale Bitcoin Trust represents 73% of Grayscales total AUM (and more

2021-06-18Deep Dive

Social Sentiment Indicators Explained: What are They and How Do They Work?

Social Sentiment Indicators (SSI) have become popular analysis tools for modern-day businesses across the globe. Today, most companies leverage SSI to understand their performance and build on efficient marketing strategies. So, how do SSI work, and why are they rising in popularity amongst individuals and corporations？ This article will answer both questions and give a detailed highlight of the upcoming use of SSI within the burgeoning crypto market as well.　　We live in a world where social media is the fundamental means of communication, with Facebook and Twitter dominating the scene. Both platforms host millions of daily active users who leverage social media for various reasons. However, at the core, most people use social media platforms to share their views or communicate with their loved ones. Well, at least until recently, we are now seeing a paradigm shift with social media playing a significant role in the investments and marketing industry.　　A recent report by the CFA institute highlights the growing influence of social media in today‘s investing culture, giving examples of the Gamestop stock price surge and Elon Musk’s tweets impact on Bitcoin and Dogecoins prices. It is also noteworthy that the influencer marketing niche is now worth an estimated $5-10

2021-06-18Deep Dive

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