Start Your Crypto Journey: CryptoUnity Exchange Targets Beginners
• CryptoUnity is a cryptocurrency exchange that seeks to make it easier for beginners to navigate the crypto ecosystem.
• The CUT token powers the CryptoUnity ecosystem, providing holders with many different benefits and utility cases on the platform.
• The project has passed audits by QuilAudits and CertiK, demonstrating a very high level of transparency and accountability.
CryptoUnity Exchange
CryptoUnity is a Slovenian start-up that is building a beginner-focused crypto exchange. The cryptocurrency exchange seeks to close the gap for beginners in the ecosystem by making it easier for beginners to navigate the crypto space through its user-friendly interface and comprehensive educational resources. The exchange doesn’t hold its users‘ funds but stores them with an independent, highly regulated custodian.
CUT Token
CUT is the utility token that powers the CryptoUnity ecosystem. The token has a total supply of one billion and provides holders with many different benefits and utility cases on the CryptoUnity platform. This includes lower fees, loyalty programs, further education access, spot in legitimate ICO presales, airdrops, holder rewards, and advantages on giveaways.
Safety & Transparency
In addition to its user-friendly nature, CryptoUnity is also focusing on safety aspects of crypto. The crypto exchange has implemented the cold wallet with an NFC card providing its users with a secure way of storing funds. Its partnership with Lenovo also serves as another positive for the company. Furthermore, CryptoUnity has passed audits by QuilAudits and CertiK receiving a CertiK KYC Gold badge which demonstrates their commitment towards transparency and accountability within their system.
Benefit from Using CryptoUnity
By using CryptoUnite’s services users can benefit from lower fees as well as additional loyalty programs offered by CUT tokens holders such as further education access or spots in legitimate ICO presales amongst other advantages such as free Airdrops or giveaways for CUT token holders only . Furthermore users can store their funds securely since their money does not get stored by Cryptounity but rather via independent highly regulated custodians .
Conclusion
CryptoUnite is perfect for those who are looking to start trading cryptocurrencies without worrying about security issues or being overwhelmed by all of the technicalities while still having access to educational resources so they can learn more about cryptocurrencies , all this while benefiting from using its services thanks to lower fees , loyalty programs , Airdrops , holder rewards etc…
Ark Invest Adds $20.5M Coinbase Shares: COIN Price Down 7%
• Ark Invest purchased $20.5 million worth of Coinbase shares on Thursday.
• Ark had previously purchased $30 million worth of Coinbase shares in February.
• Cathie Wood’s Ark Invest remains bullish on Coinbase despite a 7% drop in share price since the beginning of March.
Ark Invest Purchases $20.5 Million Worth of Coinbase Shares
Ark Invest purchased 301,347 Coinbase shares on Thursday, bringing the total value of shares purchased by Ark to over $50 million. The investment was made despite the stock dropping by more than 10% since the beginning of March, with today’s price sitting at $58.09 per share.
Cathie Wood’s Bullishness on Coinbase
Despite the current crypto market meltdown and various regulatory authorities in the United States taking action against cryptocurrency exchanges, Cathie Wood remains quite optimistic about Coinbase Global Inc (NASDAQ:COIN). This could be seen as a vote of confidence on the crypto exchange, especially after news that the US government recently moved BTC worth $217 million to Coinbase.
Silicon Valley Bank Selling Assets
The collapse of crypto-friendly bank Silvergate, as well as shockwaves caused by crypto VC-friendly Silicon Valley Bank selling assets and stocks to raise funds and risk of prolonged interest rate increases in the US have all driven down market sentiment this week.
February Investment in Coinbase
In February Ark purchased Coinbase shares worth more than $30 million adding to another $3.2 million worth of Coinbase shares purchased in December. This latest purchase brings the total investment up to over fifty million dollars invested into one single stock from one fund manager alone – an impressive feat indeed!
Conclusion
Despite some bearish trends, it seems that Cathie Wood is still confident about investing heavily into cryptocurrencies like Bitcoin and Ethereum via her fund management company – Ark Invest – which has now committed almost fifty-one million dollars into one single stock from its ETFs alone!
Unlock Economic Value of Movement: Sweat Economy Launches SWEAT and Web3 Wallet in US
• Sweat Economy is a Web3 project that seeks to unlock the economic value of movement.
• It operates a Web2 application called SweatCoin app which rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking.
• The venture is planning to re-launch its Sweat Wallet application and its native token, SWEAT, in the United States later this year, allowing US customers to receive their allocations and start generating new $SWEAT tokens by walking.
Sweat Economy: Unlocking the Economic Value of Movement
Sweat Economy is a web3 project that seeks to unlock the economic value of movement by rewarding people for their physical activity. It operates a Web2 application called SweatCoin app which has been available in the US market since 2016 and rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking.
Re-launch of SWEAT Token and Sweat Wallet
Last year in September, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application called Sweat Wallet but it failed to pass the regulatory barriers in the US, leaving American customers out from receiving their allocations or start generating new $SWEAT tokens by walking.
However, starting September 12th 2023, US residents will be able to install the Sweat wallet application and receive their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings. They will also be able to start earning more SWEAT tokens for their steps right away.
Distributing SWEAT Tokens To US Users
The team behind Sweat Economy emphasizes that tokens will not come from additional token emissions but from existing token allocations. Commenting on this new development, Founder Oleg Fomenko said: “It is a great pleasure to finally bring our platform’s offering at full capacity into one of our most important markets – The USA.“
Benefits Of Using The App
By using this app, users can earn rewards in exchange for their physical activity without having any special equipment or taking additional time from their day-to-day activities. In addition, users are incentivized to stay healthy while also earning money at no cost whatsoever as they get rewarded simply by walking!
Conclusion
All in all, with its re-launch slated for September 12th 2023, thousands of American users are set to benefit from this revolutionary project as they can now earn rewards simply by getting active!
Bitcoin Supply on Exchanges Lowest Since 2017 Bull Market Peak – Why?
• The supply of Bitcoin on exchanges has reached its lowest levels since 2017, when the cryptocurrency experienced its bull market peak.
• Originally, people pulled Bitcoin to participate in a vibrant crypto ecosystem with high volumes and activity.
• More recently, however, Bitcoins have been leaving exchanges due to security and transparency concerns heightened after the collapse of FTX.
Bitcoin Supply on Exchanges Lowest Since 2017 Bull Market Peak
Supply of Bitcoin on Exchanges Decreasing
The amount of Bitcoins held on exchanges is now down to 2.27 million – the lowest mark since March 2018. This marks a decrease from 11.8% of the overall Bitcoin supply at December 2017’s bull market peak, to its current level – the lowest figure since then.
Origins of Bitcoin Movement off Exchanges
In the past year, as crypto bottomed ahead of an explosive pandemic-fuelled bull run, people began pulling their Bitcoins back in order to take advantage of a vibrant crypto ecosystem with high volumes and activity levels offering much scope for yield.
Recent Concerns Over Security & Transparency
Despite decreasing trading volumes and waning interest more recently, the pattern of Bitcoins leaving exchanges has continued – this time largely driven by fears over security and transparency heightened after FTX exchange collapsed earlier this year. This highlights the importance of ‘not your keys not your coins’ – meaning that it is important for users to be in control of their own private keys in order to maintain ownership over their digital assets.
„God’s Plan“ playing On The Radio
The last time that we saw such low Bitcoin supplies on exchanges was March 2018 – coinciding with Drake’s hit song ‘God’s Plan’ being played repeatedly on radio stations across the world!
Conclusion
It appears that users are taking heed of warnings about security and transparency around cryptocurrencies following recent events – leading them to pull their coins out from exchanges back into their own wallets where they can retain full control over them.
Filecoin Price Soars to 6-Month High After FVM Launch
• Filecoin (FIL) saw its price reach highs of $7.89 on Coinbase following news of the upcoming network development, Filecoin Virtual Machine (FVM).
• The FVM launch is set for 1 March 2023 and will bring scalability, programmability and low fees to the Filecoin blockchain.
• A 340% jump in 24-hour trading volume suggests there was a lot of buying power behind the rally.
Filecoin Price Reaches 6-Month High after FVM Launch News
Filecoin (FIL) rallied significantly on Friday after news of an upcoming network development, the Filecoin Virtual Machine (FVM), was announced. This pushed the FIL token’s price to highs of $7.89 on Coinbase – its highest level since 18 August 2022.
What Is Behind Filecoin’s Price Surge?
A massive 26% rally on the day sent FIL/USD above key resistance around $6.00, resulting in a 55% surge in the past week. A 340% increase in 24-hour trading volume suggests that there was considerable buying power behind this movement.
Benefits Of FVM To The Filecoin Network
The launch of FVM is expected to refine layer-1 networks with smart contracts and programmability as well as provide greater scalability and cheaper fees when interacting with decentralised applications.
Predictions For Future Prices
While it is impossible to make exact predictions about future prices, analysts are confident that FVM will be beneficial for Filecoin’s growth in the long run and could potentially see further gains for FIL tokens in future.
Conclusion
In conclusion, Filecoin’s recent surge is likely attributed to news about an upcoming network upgrade with many benefits such as increased scalability and lower fees when interacting with decentralised applications which has excited investors and created optimism amongst holders of FIL tokens for better performance in future prices.
Paxos Trust Ordered to Stop Issuing Binance USD: SEC Alleges Security Violations
• The US SEC has issued a Wells Notice to Paxos Trust Company for listing and issuing the Binance USD (BUSD) stablecoin without authorization.
• The New York Department of Financial Services (NYDFS) has ordered Paxos to stop creating anymore BUSD tokens.
• Binance has said that Paxos will continue to manage the redemption of the product.
SEC Issues Wells Notice to Paxos
The US Securities and Exchange Commission (SEC) has issued a wells notice to Paxos Trust Co. for listing and issuing the Binance USD (BUSD) stablecoin without authorization.
NYDFS Orders Stop on Issuing BUSD Tokens
The New York Department of Financial Services (NYDFS) responded shortly after with an order for Paxos to stop creating any more BUSD tokens. This comes after the SEC alleges that Binance USD is an unregistered security and that Paxos violated investor protection laws by listing it without approval from relevant regulatory bodies in the US.
Crypto Staking Violates Security Laws
Just last week, the SEC stated that crypto staking also violates securities laws and as such, forced crypto exchange Kraken to shut down its crypto staking product after agreeing on a $30 million settlement deal for issuing this product without first seeking authorization. Coinbase which had earlier warned about potential crackdowns on crypto staking, announced its intention of defending its crypto staking offering in court if need be if push came to shove.
Ripple’s XRP Token at Center of Security Debate
The debate over whether certain cryptocurrencies are securities or not have been around for some years now and has been in focus since the US SEC filed a lawsuit against Ripple Labs three years ago arguing that its Ripple (XRP) token is a security. The case is still ongoing with speculations that it could be ruled in favour of Ripple after a US Court recently ruled that another token, LBRY Credits (LBC), is not a security.
Conclusion
In conclusion, this recent move by both the NYDFS and SEC serves as yet another reminder of how important it is for cryptocurrency-related companies operating in the US to comply with all relevant regulations when launching new products or services into the market so as not suffer any legal issues going forward.
Start $MCADE Presale: Play, Earn, Build & Connect!
• Charlie Munger, the Vice Chairman of Berkshire Hathaway, wants the U.S. to ban cryptocurrencies as he believes they have no real value.
• He praised China for executing a full ban on cryptocurrencies and urged the United States to follow suit.
• His business partner Warren Buffet shares his view on the matter as well.
Charlie Munger Wants US to Ban Cryptocurrencies
Charlie Munger, the Vice Chairman of Berkshire Hathaway, has reiterated his opinion on cryptocurrencies – that they have no real value and should be banned in the United States. He further applauded China for imposing a strict ban on crypto-related services and suggested that US learn from their example. Moreover, his business partner Warren Buffet shares his view regarding this matter too.
Munger’s View on Cryptocurrencies
Munger has been against cryptocurrencies since long and associates no real value to them as they are intangible and unproductive. In an op-ed published in The Wall Street Journal, he said: “Crypto is not a currency, commodity or security; it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.“
Cryptocurrency Market Performance
Despite such criticism from influential investors like Munger and Buffett, cryptocurrency market seems to be having an excellent start this year with Bitcoin up nearly 40% since January 2021.
China’s Crypto Ban
Munger lauded China for its recent move of banning crypto related services and suggested US to follow suit citing England’s example which imposed restriction on public trading of common stocks back in early 1700s. He added: „In some cases, a big block of cryptocurrency has been sold to a promotor for almost nothing after which public buys in at much higher prices without fully understanding the predilution in favour of promoter.“
Conclusion
It is clear that both Munger and Buffet are strictly against cryptocurrency investments as they believe these assets lack any sort of tangible worth or productivity; therefore it would be wise for investor not to invest their money into them without fully understanding all its implications first.
Ethereum Rally Picks Up Steam, But Still Lags Behind Other Cryptos
• Cryptocurrencies have had a positive start to 2023, with Bitcoin leading the way.
• Ethereum has lagged behind the other leading cryptocurrencies, losing over 70% of its value in 2022.
• The recent rally has reduced Ethereum’s losses compared to the other leading cryptocurrencies, but it still has more room to rally.
The cryptocurrency market started 2023 with positive momentum. After the market crash of 2022, Bitcoin, Doge, Ripple, and Ethereum all gained against the US dollar. Bitcoin was the clear leader, bouncing back strongly from its lows and creating an almost direct correlation between it and the rest of the cryptocurrencies. However, something interesting happened since then: the correlation between Bitcoin and the other cryptocurrencies weakened.
Ethereum, in particular, has lagged behind the other leading cryptocurrencies. It lost over 70% of its value in 2022, the most of all the leading cryptocurrencies, before the recent rally. The rally has reduced Ethereum’s losses against the US dollar, but it still has more room to rally compared to Bitcoin, Doge, and Ripple. These three cryptocurrencies have moved more or less in sync with each other, while Ethereum has lagged behind.
The reasons for Ethereum’s lagging behind are still unclear, though it is believed that the lack of developer activity around Ethereum could be to blame. The recent rally has also created a lot of optimism around the cryptocurrency, but it remains to be seen if Ethereum can continue its rally or if it will continue to lag behind the other leading cryptocurrencies.
In any case, the recent rally has been a welcome change for cryptocurrency investors, and it will be interesting to see how the market develops in the coming months. Ethereum may still have more room to rally, but it remains to be seen if it can catch up with the other leading cryptocurrencies.
Metacade Set to Outperform The Sandbox: Could MCADE Be the Next Big Crypto Project?
• The Sandbox (SAND) is a virtual world built on the Ethereum blockchain that enables users to own and monetize their creations.
• The SAND token has seen a significant decline in price during the 2022 bear market, with a high of $8.48 in November 2021 and a low of $0.37 in January 2023.
• Metacade (MCADE) is a project that many have predicted could significantly outperform SAND this year.
The Sandbox is an Ethereum-based virtual world where users can express their creativity and truly own and monetize their creations. The platform is a sandbox experience, offering a variety of tools to generate immersive experiences for others to play. To represent in-game assets such as LAND and ASSETS, The Sandbox utilizes NFTs which can be bought and sold on the open market. It is one of the leading metaverse crypto projects, alongside Decentraland, and had seen its SAND token spike in price after Facebook, now Meta, announced its foray into the metaverse.
However, the hype fizzled out during the 2022 bear market, sending the price of SAND plummeting. After reaching a high of $8.48 in November 2021, SAND has recently made a low of $0.37 – an approximate 95.6% decline. This is partly down to a lack of adoption by regular players. Since the start of 2021, The Sandbox has seen a consistent drop in the number of players, with the game only reaching a peak of 10,000 players at its highest point.
As a result of this, many investors have been left wondering what will happen to the SAND token. While the future of the token is still uncertain, there is one project that many have predicted could significantly outperform SAND this year – Metacade (MCADE).
Metacade is a decentralized gaming platform built on the Ethereum blockchain. It allows developers to create and monetize custom games, and for players to participate in tournaments and earn rewards. It is different from The Sandbox as it focuses more on the gaming aspect of the metaverse, and has already seen a surge in the number of players since its launch in December 2021. The project has also seen a steady uptick in the number of developers creating games for the platform, which will likely result in more games and players in the near future.
Given that The Sandbox has failed to attract players, while Metacade is seeing an increase in engagement, many have predicted that MCADE will significantly outperform SAND this year. The project is still in its early stages, however, and investors should always do their own research before investing in any cryptocurrency.
Crypto Rally Proves Narrative of Uncorrelation is Dead
– Crypto has risen to start the year off the back of expectations that interest rates may be cut sooner than anticipated, further disproving the notion that it is uncorrelated.
– Assessing the price action of crypto through the pandemic and subsequent rate-raising cycle shows an extremely risky asset class that moves in line with other speculative asset classes.
– This latest rally is the strongest rally in 9 months, proving that any narrative around crypto being an uncorrelated asset is dead.
The world of cryptocurrency has been abuzz recently with the latest rally in digital assets, leading to the strongest rally in nine months. This rally has been driven by the expectation that interest rates may be cut sooner than anticipated, and it has served to further disprove the notion that cryptocurrency is uncorrelated.
In order to understand this latest rally, it is important to take a look back at the events of the past few years in the crypto space. It all started with central banks around the world pursuing ultra-low interest rate policy in an attempt to stimulate the global economy. This was followed by the onset of the COVID-19 pandemic, which brought economies to a grinding halt and forced central banks to respond with unprecedented stimulus packages. This resulted in a violent upward movement in the price of cryptocurrency, as investors sought out alternative investments in a volatile market.
Since then, we have seen cryptocurrency continue to move in line with other speculative asset classes, as evidenced by its price action in the wake of the pandemic and subsequent rate-raising cycle. This shows that cryptocurrency is an extremely risky asset class, and one that is far from uncorrelated with other markets.
The latest rally in cryptocurrency further drives this point home. The rally has been driven by the expectation that interest rates may be cut sooner than anticipated, and it has been met with enthusiasm from investors. This has resulted in the strongest rally in nine months, which proves once and for all that any narrative around cryptocurrency being an uncorrelated asset is dead.
The latest rally in cryptocurrency serves as a reminder that investors should always be wary of the risks associated with investing in digital assets. While there can be great rewards to be had, it is important to remember that the asset class is highly volatile and one that moves in line with other speculative asset classes. In light of this, investors should always make sure to do their research and be aware of the risks before investing.