Crypto Guides, Knowledge & Insights

Litecoin, Binance Coin, EOS – Worth placing a bet on for the short-term?

Of late, speculations around a forthcoming altseason have been the most trending topics in the crypto-community. But, what exactly is the significance of the same？　　As covered by AMBCrypto in the past, Bitcoin‘s shrinking dominance has been the talk of the town for a while now. At the time of writing, for instance, Bitcoin’s Dominance rate (BTC.D) stood at 42.03%, as per TradingView. On the back of such a finding, expectations associated with an altcoin rally are only bound to increase even more.　　Kaleo, a widely recognized trader and analyst, is one of those to fan such expectations, with the crypto-proponent recently commenting on his sky-high expectations for Litecoin (LTC), Binance Coin (BNB), and EOS in a series of tweets.　　Litecoin (LTC)　　As per his bullish narrative for LTC, Kaleo forecasted a massive price pump towards $2000. It should be noted, however, that he did say that he would be content with the $1000 – $1200 mark. Furthermore, he bought the coin in question every day while it traded under $500.　　Source: Kaleo|Twitter　　His tweet read,“This is why I am buying spot Litecoin every day its under $500.”　　When compared to LTC‘s 2017 bull run performance, the altcoin’s latest charts have been picturing a similarly bullish trend

2021-05-14Deep Dive

Can Tokenplace Usher in a New Era in Crypto-economics?

Over the last few years, the cryptoverse has seen many new trading platforms go online one after the other. That begs the question, why？ After all, if all you are interested in is Bitcoin, Ethereum, or some of the big boys, then the traditional Forex trading websites are quite enough for any retail trader to make a buck. The answer is trading pairs. Only specialized trading platforms can offer the trading pairs in which a true crypto enthusiast will be interested.　　But do we need more crypto platforms, I hear you ask？ Today, Tokenplace is going online, and it seems that the answer they have for the question is an emphatic “yes.” Lets see why.　　Tokenplace aims to help shape the crypto-economic future by bringing forward a new platform that uses parallel simultaneous trades over different single exchanges so that the problems associated with erratic price fluctuations, trade friction, and inflated prices can be prevented. That alone makes a case for a new platform. One that works better for everybody.　　Tokenplaces selling points　　Other features in Token Place will be unified trading and analytics, portfolio management and reporting, intuitive search, smart classification, and an immersive dashboard.　　In other words, users can link all their exchange

2021-05-14Deep Dive

Can Cardano Become The Third Biggest Crypto After Ethereum And Bitcoin?

The price of Bitcoin has, until recently, given little space for alternative coins to grow even as they‘ve risen out from its shadow. Altcoins have developed beyond the mere equivalent of a pilot technology that had yet to impact a global technological shift. Altcoins such as Ethereum, Cardano, and XRP have staked an important case for blockchain’s stature as a useful disruptive technological innovation.　　Blockchain projects are driven by community belief, similar to a coin‘s price action which, according to billionaire investor Mark Cuban, is based on a “supply and demand” dynamic. While Ethereum has established itself as a leader in the blockchain space, given its first-mover advantage as it leveraged off ICO launchpads, NFTs, and DeFi, other ecosystems show similar promise in the eyes of the believers. Founded by Charles Hoskinson, Cardano’s scientific and academic approach to building a decentralized network has brought invigorated hope to new investors.　　An Academic Blockchain　　Developed through peer-reviewed research papers and established by one of Ethereum‘s co-founders, Cardano is a high-assurance blockchain. Driven by technical support from IOHK, Cardano’s development arm, the blockchain is set to compete with Ethereum in terms of capabilities.　　Through Cardano‘s Alonzo hard fork, which is part of the overall Goguen era, developers

2021-05-14Deep Dive

One of Europe's Biggest Music Festivals Now Accepts Bitcoin for Tickets

Exit, one of Europes biggest music festivals, has started accepting Bitcoin payments for tickets.　　One simply has to choose the “Pay with Bitcoin” option on Exits website and scan a QR code to conduct a transaction.　　Exit is considered to be one of the biggest music events in the world alongside Britain‘s Glastonbury and Brazil’s Rock in Rio. The list of this years headliners includes David Guetta, Tyga, DJ Snake, and others.　　The festival is held in Petrovaradin Fortress, the second-largest fortress in Europe, which is situated in the Serbian town of Petrovaradin.　　In 2019, Exit attracted over 200,000 attendants from all over the globe, with The Chainsmokers being among its headliners.　　At the forefront of innovation　　Exit is the first major festival to embrace cryptocurrency payments.　　CEO Dušan Kovačević emphasized the importance of being at the forefront of innovation in his statement:　　“The potential of blockchain, digital exchange and currency is exciting and we wanted to make sure we are at the forefront and are utilizing new technologies and able to engage with our tech savvy audience as technology evolves and changes.”

2021-05-14Deep Dive

Binance Faces Investigation from IRS and DoJ

Binance is currently being investigated by the U.S. Department of Justice (DoJ) and the Internal Revenue Service (IRS), according to a recent report from Bloomberg.　　Bloomberg Reports Binance Investigation　　Individuals involved with Binance are reportedly being probed for information related to money laundering and tax offenses.　　Bloomberg notes that the exchange operates in various jurisdictions including the Cayman Islands and Singapore, meaning that it has so far been able to avoid most government oversight.　　Details of the investigation remain confidential. Representatives from the IRS and DoJ did not respond to Bloomberg, while Binance stated that it does not comment on specific inquiries.　　Binances PR agent, Jessica Jung, did note that it takes its “legal obligations very seriously” and “engage[s] with regulators and law enforcement.” She also noted that Binance has a “robust compliance program” and offers anti-money laundering tools.　　Will the Exchange Suffer？　　Without any further details about the investigation, it is hard to predict what the Binance probe will amount to.　　Bloomberg notes that the analytics firm Chainalysis previously published a report indicating that Binance is used for laundering more than any other exchange. Given that Chainalysis has worked with the IRS before, that information may have spurred the investigation.　　Additionally, Bloomberg states that Binance has not been

2021-05-14Deep Dive

South Korea: Interest in Crypto Equal Between Younger and Older Age Groups

The authors of a detailed report on the profile of crypto investors in South Korea have concluded that Crypto Fever 2.0 has been marked by a spike in interest among older age groups – with those in their 40s and 50s expressing a similar amount of interest in tokens as the ever-crypto-keen 20-39 age group.　　The findings were published in a report compiled by the newspaper Hankook Ilbo, in association with the Institute for Social Data Science at POSTECH, one of South Koreas biggest technology-focused universities. Its authors used Big Data solutions to analyze news articles, search engine data and analyze comments on media posts – to attempt to see if there were any differences between Crypto Fever 1.0 (in the period May 2017 to May 2018) and now. The most recent data was taken from the period October 202 to May 2021.　　The findings revealed that while in the 2017-2018 period the overwhelming majority of crypto-related searches were conducted by those aged 20-39, in the 2020-2021 period, there was almost an even split of searches made by both age groups. Those aged 40-59 were also almost as active in sharing and commenting on crypto-related news stories.　　Even more interesting, perhaps is the

2021-05-14Deep Dive

State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies

The banking subsidiary of the national postal service of Switzerland, Postfinance, has launched a mobile app providing clients with access to cryptocurrencies, ETFs and more. The software allows users to make payments, save funds or invest in various assets, with a commitment to a level of security provided only by the countrys leading online banks.　　Swiss Posts Bank Offers Clients Access to Crypto Assets and Stocks　　The new application called Yuh is the product of a partnership between Postfinance and the online trading platform Swissquote. The collaboration was established late last year and the software was unveiled at a virtual launch event on May 11, the bank said in a press release. Anyone who wants to test it is welcome to download and install the app on either an iOS or an Android device. Postfinance emphasized:　　With the Yuh app, you can not only execute payments and save for future projects or goals, but also make small or large investments, all from your smartphone.　　Users can invest in over 100 of the most popular stocks like those of Apple, Nike, Tesla, or Coca-Cola, as well as exchange-traded funds (ETFs). The two financial companies also revealed that their customers will be able to buy and

2021-05-14Deep Dive

Experts Warn of Tighter Policing Ahead for Stablecoins

It appears that regulatory strife may well be in store for stablecoins, with experts opining that fiat-pegged tokens could fall under the scrutiny of financial policymakers.　　Quoted in the Financial Times, John Salmon, the head of the legal firm Hogan Lovells blockchain and cryptocurrency division, opined:　　“Certainly the direction of travel is to look at regulating [stablecoins].”　　The warning comes ahead of forthcoming new guidelines from the Financial Action Task Force (FATF), which is set to update its stablecoins policies in a set of regulatory standards to be published next month.　　And the same media outlet quoted more warnings from Rohan Grey, a professor of law at Willamette University and one of the architects of a bill put forward last year by United States Congress members. The draft bill, if approved, would require stablecoin issuers to obtain banking charters prior to issuance, as well as abide by American banking regulations – and apply for approval from both the Federal Reserve and the regulatory Federal Deposit Insurance Corporation.　　Grey said:　　“All of [the variations of stablecoins], to me, are just shadow banking which should have been regulated .[…] as part of the banking system.”　　According to him, there is this long history of new entrants into the financial

2021-05-14Deep Dive

Looking to Buy a Crypto Business? Here’s What You Should Know

Purchasing a crypto company raises special issues around cybersecurity, data privacy and regulations, says one lawyer who knows.　　The rapidly expanding crypto world has started to see an uptick in investments and M&A deals (and lofty valuations). Galaxy Digital acquired BitGo. Coinbase bought Routefire. Recently founded NYDIG is moving into mining through M&A. By some estimates, crypto M&A is a billion-dollar-plus business.　　Understanding the assets and revenue streams of target businesses is critical to capturing and realizing value in any equity investment or M&A deal – especially in crypto. Given the complexity and nuances of crypto businesses, this understanding requires a deep dive into a few key areas: cybersecurity, data privacy and regulations.　　Joe Castelluccio is a partner at Mayer Brown LLP and counsels clients on M&A, equity financings and other corporate and business matters.　　While these issues are not unique to businesses in the crypto space, effective analysis and due diligence in this space is particularly complex and challenging.　　Cybersecurity　　While every company in the world should be concerned about cyberattacks (for several reasons), businesses in the crypto space should be particularly focused on it. There are a host of negative effects that this kind of attack or breach can have. To name just a

2021-05-14Deep Dive

Why Investing Magnate Druckenmiller Deems ‘Central Banks Are The Problem And Crypto…The Solution’

Serial billionaire investor, Stanley Druckenmiller has lambasted the US Federal Reserves decision to continue influencing its economy negatively by grounding its short-term interest rates despite growing indices of an already resuscitating economy.　　Druckenmiller recently took a hot swipe at Jerome Powell, the chairman of the United States Federal Reserve, for choosing to fetter Americas vibrant economy to crippling inflation which has since hovered around 2.6%, under the guise of a pandemic already established as less critical since the start of the vaccination program in January.　　The owner of Duquesne Family Office, in an interview session with CNBCs squawk box, stressed that the interference of the government in the economy, which started during the pandemic era, has simply gone on too long and is starting to backfire. With trillions of dollars in stimulus debt now cuffed to the wrist of over 300 million Americans, the nation stands the risk of shedding off more value and losing its priced position as a standard federal reserve for many countries.　　“Already this is happening”, said Druckenmiller; ‘and there appears to be no solid replacement from any currency in the world – not the Euro and not even China, no thanks to her communist practices.’　　Will Crypto Come To

2021-05-14Deep Dive

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