Crypto Guides, Knowledge & Insights

Ethereum Price to Hit $19,842 by 2025 According to 35 Experts

Thirty-five experts have come together to predict the price of ethereum. On average, they expect the price of ether to hit $19,842 by 2025. The majority of panelists say now is the time to buy ethereum while 28% say to hodl.　　Experts See Price of Ether Reaching Almost $20K by 2025　　The “Finder Cryptocurrency Predictions 2021” which was updated Monday predicts that the price of ether will be nearly $20K by 2025 according to 35 experts on Finders cryptocurrency panel. The report says: “By 2025, the panel expects Ethereum to hit $19,842 on average.”　　The highest forecast came from Bitbull Capital COO Sarah Bergstrand who believes that the price of ether would be $100,000 by 2025. “We are likely to see major upgrades to the Ethereum network this year, and those can be expected to push the price higher,” she explained.　　One of the most bearish forecasts came from UNSW associate professor Elvira Sojli who predicted that ETH will end 2025 at just $1,850.　　The report continues: “The majority of panellists (59%) say now is the time to buy ethereum, while 28% say ‘hodl’ and 13% say its time to sell.”　　As for the price prediction for the year 2021, the report notes that the “Panellists

2021-05-12Deep Dive

Macau casino investor bets on Bitcoin (BTC) amidst a bleak economic outlook

Chinese publicly listed firm Success Universe Group Ltd, which is a major investor in Macau-based casino and hotel resort Ponte 16, announced that it has purchased 24.3 Bitcoin ($1.35 million currently) as part of its portfolio diversification strategy, Inside Asian Gaming reported today.　　“In recent times, the Board observed increasing popularity of cryptocurrencies in the commercial world, with the inclusion of cryptocurrencies in investment portfolios of institutional investors and more companies accepting cryptocurrencies, including Bitcoin, as an official payment option,” the firm noted.　　Looking for a new bet　　According to the announcement published by Success Universe via the Hong Kong Stock Exchange, while the crypto market may be extremely volatile in the short term and prone to wild price swings, its board of directors “believes that there is still room for cryptocurrencies to appreciate in value.” Bitcoin, in its turn, could be “a dependable store of value,” the firm added.　　“Having considered the uncertainty in the global economy, the unprecedented government financial stimulus measures, including quantitative easing, adopted around the world, depreciation pressure on the value of fiat currencies due to aggressive increases in money supply by central banks globally, the Board believes that the investment would diversify the Groups investment portfolio and enhance

2021-05-12Deep Dive

EOS Up 46% as Block.one Invests $10 Billion in Exchange

To start a centralized cryptocurrency exchange, you need a lot of liquidity to enable trades and attract buyers and sellers.　　The gross domestic product of a small country ought to do it.　　Block.one, the software firm behind the EOSIO blockchainplatform, has pulled together $10 billion to get Bullish Global off the ground. Block.one supplied 164,000 Bitcoin($9.25 billion), 20 million EOS tokens ($250 million), and $100 million in cash, while also raising $300 million in strategic funding.　　EOS enjoyed the best day of any of the top 100 cryptocurrencies by market cap, moving from $9.17 to $13.83 in just six hours this morning after the news broke. The 46% boost since yesterday bested other hot assets such as YFI and MATIC, according to data from Nomics.　　Block.one was founded by CEO Brendan Blumer and former CTO Daniel Larimer, who wrote the EOS white paper. The blockchain project, one of the original “Ethereum killers,” went on to raise a record sum of $4.2 billion in an initial coin offering.　　Its backers include UK hedge fund manager Alan Howard, Moore Capital Management CEO Louis Bacon, and PayPal and Palantir co-founder Peter Thiel—all of whom invested in Bullishs funding round.　　Mike Novogratz, whose asset management firm Galaxy Digital also partook

2021-05-12Deep Dive

Hackers Attack Instagram Accounts in Malta and Require Bitcoin Ransom

Instagram accounts of Maltese residents were attacked recently by hackers. The online intruders specifically insisted on a Bitcoin ransom from the users in order to restore their access.　　Hackers Insist on Bitcoin　　Bitcoin and most of the cryptocurrencies keep their rally as their prices escalated in the past few months. Many companies and influential individuals either invested in them or recognized their potential. However, the skyrocketing value of bitcoin and altcoins also attracted the attention of online hackers who are always on the lookout for victims.　　Lovein Malta reported such a scam in the Mediterranean island. According to the information, foreign attackers hacked the Instagram accounts of many small business owners and everyday users of the social platform.　　To regain their access back, the hackers demanded to be paid in the primary cryptocurrency.　　According to the local authorities, the attackers are based in Turkey and have been on the hunt for Maltese victims over the past few months. Police, on the other hand, have been on the tail of the fraud but so far have not been able to confirm the whereabouts of the criminal operation.　　The situation with the current scheme in Malta remains uncertain and highly risky as even Instagram itself has not yet

2021-05-12Deep Dive

Indonesia Plans to Tax Crypto Trading

The Southeast Asian country of Indonesia considers a plan to tax trading with digital assets. However, a spokesman from the tax office revealed that the proposed scheme was still at the discussion stage, and no changes have yet been applied.　　The Crypto Environment in Indonesia　　The biggest economy in Southeast Asia – Indonesia – saw a massive increase in crypto users in the past months. Following the recent rally of most digital assets, local residents of the country turned their sight to them. According to a report, Indodax – the largest crypto exchange platform in Indonesia – registered more than 700 000 new members only for the first four months of 2021 as the total number rose to three million people.　　However, Reuters reported that the country‘s officials are contemplating a plan to tax trading with Bitcoin and all altcoins. Neilmaldrin Noor, a spokesman at Indonesia’s tax office, asserted that the future implementations were still at the discussion phase, and no changes have yet been administered. Additionally, he explained that taxation is vital for the economy:　　“It is important to know that… if there is a profit or capital gain generated from a transaction, the profit is an object of income tax. So the

2021-05-12Deep Dive

Hungary plans Bitcoin tax cut as part of economic recovery program

Lawmakers are reportedly planning to cut taxes on Bitcoin gains in half, possibly as early as 2022.　　Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the COVID-19 pandemic.　　In a video that appeared on Facebook Tuesday, Finance Minister Mihály Varga outlined the governments stimulus program through 2022. As part of the post-COVID-19 relief efforts, lawmakers are considering reducing taxes on cryptocurrency trading to 15% of income, down from the current rate of 30.5%. Such a move would make Hungary a far more competitive jurisdiction with respect to crypto-based capital gains taxes.　　Cryptocurrency regulations are underdeveloped in Hungary, though the buying and selling of digital assets is classified as “other income” from the perspective of taxation.　　After surging during the heights of the 2017 bull market, cryptocurrency trading in Hungary remains fairly modest compared with other countries. However, a clear uptick has been observed since the start of 2021.　　Hungary has been involved in preliminary discussions surrounding a central bank digital currency, or CBDC. In August 2020, a representative from the Hungarian National Bank joined a roundtable discussion with colleagues from the Swiss National Bank, the

2021-05-12Deep Dive

Polkadot Incorporates PARSIQ to Create Complex Automation and Workflows

The addition will allow users to receive transaction alerts through the platform.　　The Polkadot (DOT) Relay Chain has announced the integration of PARSIQs smart triggers. PARSIQ has also been integrated into Algorand (ALGO), Binance Smart Chain (BSC), Celo, Dash, and Solana (SOL).　　The announcement on PARSIQ‘s official Twitter account for the launch said that users will now be able to build smart triggers on the Polkadot Relay Chain and access the project’s real-time monitoring on yet another Layer 1 network.　　The smart-triggers used by PARSIQ are contacts that collect data from across different blockchains. They then relay that data off-chain. So, in essence, the smart-triggers relay web 3 activity to web 2 applications. Examples include sending transaction alerts to clients, monitoring data flow, dredging events, and sending price alerts.　　An example of how this could be applied would be to take a Polkadot trader using PARSIQ to be alerted when an arbitrage chance arises. Or they could set the parameters to be notified whenever their Polkadot wallet gets an incoming DOT payment. The platform is also able to deploy bots for various tasks.　　To bring blockchains together　　The advantage of PARSIQs tech, when paired with IFTTT (if-this-then-that), allows developers building on Polkadot to create complex automation

2021-05-12Deep Dive

Why Bitcoin Is The Solution To The “Powell Problem”

Legendary investor Stanley Druckenmiller gave an interview to CNBCs Squawk Box strengthening the theory of Bitcoin as a store of value. Druckenmiller talked about the possibility of the U.S. dollar losing its status as a reserve asset and the rise of BTC and cryptocurrencies to solve a problem accelerated by the current economic crisis and the Covid-19 pandemic.　　The hedge fund manager believes that the U.S. Federal Reserve is enabling a “massive expansion” in fiscal policy and an increase in debt. In the next 15 years, the U.S. could no longer be held as a reserve currency because of this policy.　　Druckenmiller has a “problem” with the FED planning to extend its Quantitative Ease, a policy implemented by the central bank to purchase financial assets to inject capital into the markets, up to $2.5 trillion after “vaccine confirmation”.　　However, the hedge fund manager believes that the U.S. economy is accelerating, with retail sales about trend and jobs recovering in this country. Out of the potential “black hole” that could have been the Covid-19 pandemic, there seems to be little point for these measures, according to Druckenmiller. Bitcoin and a crypto-based ledger system could be a solution:　　5-6 years ago I said Crypto was the

2021-05-12Deep Dive

How to hedge against instability with real world-backed tokens

Investment decisions today are primarily based on the investors appetite for risk, mixed with a bit of research or advice and, hopefully, a positive gut feeling. After all, the whole point of investing in equity, and now also cryptocurrencies, is that they can be liquidated, sooner or later, for a profit. Today, investing like this is typically seen as a more productive way of saving or “growing” your wealth over a long period of time. But this was not always the case.　　In the old days, or even still in more traditional settings, people would approach the idea of savings by putting extra money aside each month in a bank account, or under the bed, for bad times and rainy days. Investing in the stock market was typically something that was perhaps only a small part of ones savings, if at all, but never the majority of it. Savings has long been predominantly cash-based, or in the form of precious metals like gold.　　Today, however, having cash means to be constantly losing money. If it‘s not inflation in countries like Argentina, then it’s the negative interest rates in countries like Switzerland. Cash is by definition unlikely to appreciate in value, which is

2021-05-12Deep Dive

The Inception And Evolution Of Digital Art, And Where The Future Of The Industry Lies

If the acceptance of “digital art” into the characteristically aloof mainstream of “fine art” could be attributed to a single moment, it would arguably be the moment Andy Warhol sat down in front of a Commodore Amiga at New Yorks Lincoln Centre in 1985 to commit the likeness of Debbie Harry to a digital form using ProPaint.　　Since then, the number of artists substituting canvasses for computers has increased exponentially, with Statista forecasting the global online art market to be worth $9.32bn by 2024. In 2021, however, the phrase “digital art” conjures up an image of something seemingly unrelated and totally extraneous to art, whether rendered by brush or mouse; cryptocurrencies.　　This is due, in no small part, to Mike Winklemann; better known by his alias Beeple, he recently became the third most valuable living artist in the world with the sale of his digital artwork Everydays at Christies for $69 million.　　Beeple sold the artwork as an NFT; a one-of-a-kind entry on a blockchain ledger which cannot be duplicated, and which has a wholly unique value and virtual entity. This is to be compared to fungible tokens, like bitcoin, for which two coins are indistinguishable from one another and have the

2021-05-11Deep Dive

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