A popular cryptocurrency analyst has recently suggested that the price of the native token of the XRP Ledger, $XRP , could soon see its value surge by 2,500%, with their charts showing a potential rise toward the $20 mark.

In a post shared on the microblogging platform X (formerly known as Twitter), analyst Egrag Crypto shared a chart showing that the cryptocurrency is forming a distinctive triangle pattern that is similar to one that was previously seen on XRP’s price chart. Per the chart, when the pattern was spotted between 2014 and 2018, it led to an impressive rally after breaking out.

Drawing from historical trends and recent market dynamics, the prediction reflects a growing sentiment that XRP could soon see its price explode upward, with Egrag’s prediction focusing on the $20 mark in the future.

Other analysts are also seemingly bullish on XRP, with another pseudonymous analyst, CoinsKid, predicting the price of XRP could surge to $6.29 in the future using a similar technical pattern on the cryptocurrency’s chart.

Notably institutional investors have been betting on XRP, with investment products focusing on the token seeing $700,000 of inflows last week, while overall cryptocurrency investment products saw $59 million of outflows during the same period.

Rising interest in the cryptocurrency started after a ruling from Judge Analisa Torres in the case the U.S. Securities and Exchange Commission (SEC) brought against XRP, differentiating between sales to institutional investors and on exchanges, noting the token itself isn’t necessarily a security

The ruling saw a number of cryptocurrency exchanges including Coinbase, Kraken, and Gemini relist the token, significantly boosting its liquidity. 

The XRP Ledger could soon see its transaction throughput surge from around 1,500 transactions per second to an impressive 3,400 transactions per second (TPS), bolstered by upgrades that are soon set to be deployed.

As CryptoGlobe reported, XRP token holders could soon start being able to earn income on-chain after the highly-anticipated XLS-30d amendment is launched, which is set to would introduce a built-in automated market maker (AMM) trading platform into the ledger.

An AMM is a platform that allows for cryptocurrency trading in a permissionless way using liquidity pools, rather than traditional order books. Liquidity pools are shared pools of two or more tokens supplied by users that are used for trades. The prices of tokens within the pool are determined through the use of blockchain oracles.

Investors who add tokens to liquidity pools receive a share of the fees collected from each trade, but the revenue comes with the risk of impermanent loss.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

#XRP #crypto2023 #dyor $XRP

The co-founder of the popular cryptocurrency exchange BitMEX has recently suggested that the price of the flagship cryptocurrency Bitcoin ($BTC ) could surge if central banks keep on raising interest rates.

In a recently published blog post, Hayes challenged the deep-seated belief linking Bitcoin’s price performance to interest rates, saying central banks and governments are in a precarious position as they cling to dated economic models to “combat the novel situations of the present.”

In efforts to contain spiraling inflation to the target 2%, the Federal Reserve and other central banks throughout the world have been aggressively hiking interest rates, with the U.S. Central Bank’s reference rate moving from 0.25% to 5.25%, which in turn pushed yields on Treasurys from extremely low values to 5.5% for the 6-month notes and 4.25% for 10-year notes.

In the post, Hayes revealed he has reservations about the long-term viability of the central banks’ strategy, suggesting that inflation might remain persistently high. This perspective stems from the observation that nominal GDP growth, according to the Atlanta Fed’s GDPNow forecast, is a staggering 9.4%, a stark contrast to the modest 5% 2-year US Treasury yield.

Hayes opined:

Conventional economics says, as the Fed raised rates, growth in a very credit sensitive economy would falter. Common sense tells us that in these conditions, nominal GDP growth should be falling and real rates rising. But that is not happening.

As financial assets including Bitcoin and equities suffered significant downturns, they negatively impacted the government’s capital gains tax revenues, Hayes said, which further inflated the government’s deficits.

He added that to bridge this gap, the government would invariably have to issue more bonds, which translates to elevated interest outlays to bondholders, particularly in an environment of surging rates.

Hayes hypothesises that if the economy sustains its expansion trajectory surpassing government debt payouts, bondholders might pivot towards more lucrative “risk assets”, such as Bitcoin, chasing higher returns.

The convertional narrative suggests that lower interest rates may benefit Bitcoin and other risk assets, as affordable capital could pave the way for more speculative investments. Hayes conceded that diminished rates have historically favoured Bitcoin’s valuation and labeled BTC’s correlation with central bank decisions as a “positive conex relationship.”

Notably, the CEO of global investment platform eToro, Yoni Assia, has recently revealed he is still bullish on the flagship cryptocurrency even amid a wide cryptocurrency market decline that has seen BTC’s market capitalization drop to near $500 billion over its upcoming havling event.

Bitcoin’s upcoming halving event is set to occur in April 2024 and has inspired a number of bullish Bitcoin price predictions. As reported, investment research firm Fundstrat has suggested BTC could see a leap of over 500% from its current value to reach the $180,000 mark ahead of its upcoming halving.

Moreover, London-based multinational banking and financial services firm Standard Chartered has suggested that the price of the flagship cryptocurrency could surge to $50,000 this year, and could breach the $120,000 by 2024’s close in another major bullish price prediction for BTC.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

#crypto2023 #Bitcoin #BTC $BTC

In the ever-evolving world of cryptocurrency, the opportunity to accumulate substantial wealth is no longer limited to traditional methods. With just your Android device, you can now dive into the exciting realm of cryptocurrencies and potentially become a crypto millionaire. In this article, we will explore the steps and strategies to embark on this transformative journey.

Educate Yourself: Before delving into the world of cryptocurrencies, it is crucial to educate yourself. Learn about different cryptocurrencies, blockchain technology, and the fundamentals of investing. Numerous educational resources, mobile applications, and online courses are available to help you gain the necessary knowledge.

Choose the Right Apps: Your Android device can serve as a gateway to the crypto world. Research and select reliable cryptocurrency exchange apps that are compatible with your device. Ensure that the chosen apps have a user-friendly interface, robust security measures, and support a wide range of cryptocurrencies.

Start with Small Investments: Begin by investing small amounts of money that you can afford to lose. The crypto market can be highly volatile, and it is essential to mitigate risks. Gradually increase your investments as you gain more experience and confidence.

Diversify Your Portfolio: Building a diversified cryptocurrency portfolio is key to managing risk and maximizing potential returns. Explore different cryptocurrencies and their use cases. Allocate your investments across multiple cryptocurrencies to spread the risk and increase the likelihood of substantial gains.

Stay Informed and Updated: The cryptocurrency market is dynamic and constantly evolving. Stay updated with the latest news, market trends, and regulatory changes. Utilize reliable news apps, crypto forums, and social media platforms to stay informed about potential investment opportunities.

Practice Patience and Discipline: Becoming a crypto millionaire is not an overnight success story. It requires patience, discipline, and a long-term perspective. Avoid impulsive decisions driven by short-term market fluctuations. Set realistic goals and stick to your investment strategy.

Security Measures: Protecting your crypto assets is of utmost importance. Use robust security measures on your Android device, such as strong passwords, biometric authentication, and two-factor authentication (2FA). Consider using hardware wallets for added security and peace of mind.

By leveraging the power of your Android device and implementing these strategies, you can embark on a path towards becoming a crypto millionaire.

Remember, the crypto market can be unpredictable, and success is not guaranteed. Exercise caution, do thorough research, and never invest more than you can afford to lose.

The controversial cryptocurrency exchange, FTX, is reportedly set to explore a relaunch. Specifically, The Wall Street Journal reported that the new management group at the firm has begun to listen to proposal submissions from parties interested in restarting the exchange.

The downfall of FTX represented one of the largest financial crimes in history. Moreover, customers had seen their funds misused by the once-trusted firm, which collapsed in November of last year. However, amidst its ongoing bankruptcy proceedings, it is reportedly opting to restart operations. 

FTX Listening to Proposals for a Relaunch

There are a few scandals in the digital asset industry that match the levity of FTX. Once perceived as a pillar of strength within the sector, the exchange was exposed as a massive fraud scheme. Subsequently, new investigative reports have only reaffirmed just how bad the criminal activity was. 

However, according to the Wall Street Journal’s newest report, FTX is set to commence a relaunch. Indeed, the exchange is reportedly hearing from interested parties this week. Therefore, new CEO John J. Ray IIIhas confirmed the exchange is embracing a reboot of its operations. 

The team is currently in discussions with investors and observing potential structures. Now, the exchange is looking at a potential joint venture, the report stated. Conversely, the report noted that FTX would require a rebrand to be included in any restart. Additionally, it has stated its desire for existing users to have a stake in what could come of a relaunch. 

The company has been in the midst of rather convoluted bankruptcy proceedings. Moreover, it certainly would require a rebrand to have any chance at success in the modern market. Additionally, questions of regulatory compliance would need to be answered.

Yet, with a change in leadership, it would be interesting to observe how a new entity would distance itself from the harm caused by the FTX company. However, it certainly would have a difficult time maneuvering out from behind the shadow of Sam Bankman-Fried. 

Follow us for more updates!!

#FTT #FTX #crypto2023 #crypto

Dog-themed altcoin Shiba Inu unlocked a new milestone when the Hong Kong Virtual Asset Consortium (HKVAC) included SHIB in its virtual asset list index, proving to the world that it is not just a meme coin, but a movement.

Shiba Inu has come a long way since it was created by its pseudonymous creator Ryoshi in August 2020.

With its popularity spanning across the globe and several initiatives created to boost the utility and use case of the crypto asset, Shiba Inu is now included in the virtual asset index of the Hong Kong Virtual Asset Consortium, alongside several other large-market cap digital assets.

But what does it mean?

HKVAC is a newly launched rating agency centered on the assessment of the reliability of cryptocurrency assets and crypto exchange platforms.

Its comprehensive virtual asset index, primarily developed to provide investors and regulators with a dependable point of reference on the performance and significant risks associated with crypto assets, now lists Shiba Inu among 30 other cryptocurrencies.

These 30 digital assets listed in HKVAC's virtual asset index represent the overall performance of top-valued cryptocurrencies in the global crypto market.

The team reviews the assets in the index every last day of every quarter to ensure that aside from being among cryptocurrencies with the highest market capitalization, these assets have met the specific qualifying criteria set by the consortium.

Other assets listed alongside Shiba Inu include WBTC, BTCB, stETH, BCH, LTC, BNB, MATIC, ADA, ATOM, FIL, NEAR, ALGO, ICP, XRP, DOGE, DOT, WTRX, TRX, LINK, LEO, XMR, XLM, OKB, LDO, HBAR, VET, QNT, FTM, EOS.

Crypto are required to have a median daily market capitalization of at least US$ 10 million over a period of three months. In cases where the requirement is not satisfied, the subsequent crypto with the highest market capitalization is included in the index," HKVAC said, explaining its market capitalization criteria.

As for the crypto asset's liquidity, HKVAC requires that the asset must have "a median daily value traded (MDVT) of at least US$ 100,000 over a period of three months."

SHIB, the native token of the Shiba Inu ecosystem, recently saw a price surge as buying interest for the dog-themed altcoin skyrocketed, sending trillions of Shiba Inu tokens to hit break-even.

The uptrend allowed SHIB to outperform other major altcoins in the market over the past week when it recorded a double-digit gain of 15.36%.

Investing can be an excellent way to grow your wealth, achieve financial independence, and secure your future. However, for beginners, navigating the world of investments can be intimidating and confusing. That's why we have compiled this comprehensive guide that covers everything you need to know about investing.

Step Before Investing

Understanding the Basics: In this section, we lay the foundation by explaining the fundamental concepts of investing.

Setting Financial Goals: Before diving into investing, it's crucial to identify your financial goals.

Building an Investment Portfolio: Creating a well-diversified investment portfolio is key to managing risk and maximizing returns.

Investing in the Stock Market: Stock market investing can be both exciting and daunting.

Bonds and Fixed-Income Investments: For those seeking more stability and income generation, bonds and fixed-income investments can play a crucial role in their portfolio.

Mutual Funds and ETFs: Mutual funds and exchange-traded funds (ETFs) offer convenient ways to invest in a diversified portfolio of assets.

Investment Strategies: Successful investing often involves following a disciplined strategy.

Risk Management and Due Diligence: Understanding and managing risk is an integral part of investing.

Monitoring and Reviewing Your Investments: Once you've started investing, it's crucial to regularly monitor and review your portfolio's performance.

Why Do We Invest

Investing is a financial strategy that has been practiced for centuries, with individuals and institutions alike engaging in various investment activities.

Wealth Creation and Growth: One of the primary motivations for investing is the opportunity to create and grow wealth over time.

Achieving Financial Goals: Investing serves as a powerful tool to help individuals achieve their financial goals.

Passive Income Generation: Investing can also serve as a source of passive income, which is income earned without actively working for it.

Beating Inflation: Inflation erodes the purchasing power of money over time.

Diversification and Risk Management: Investing allows for diversification, spreading investments across different asset classes and sectors.

Taking Advantage of Compounding: The power of compounding is a key driver of long-term investment success.

Capitalizing on Opportunities: Investing provides individuals with opportunities to capitalize on market trends, economic developments, or emerging industries.

How our Money will Grow?

When it comes to personal finance, the goal for many is to make their hard-earned money work for them. But how exactly does money grow? In this article, we explore the key factors and mechanisms that contribute to the growth of our money over time.

The Power of Compound Interest: At the heart of money growth lies the power of compound interest.

Investment Returns: Investing in various asset classes, such as stocks, bonds, mutual funds, or real estate, provides the opportunity for higher investment returns compared to traditional savings accounts.

Economic Growth and Market Performance: The performance of the overall economy and financial markets plays a significant role in the growth of our money.

Dollar-Cost Averaging: Dollar-cost averaging is a strategy where investors consistently invest a fixed amount of money at regular intervals, regardless of market conditions.

Risk and Reward Trade-Off: It's essential to recognize that the potential for higher growth often comes with increased risk.

Time Horizon: The length of time you're willing to invest can significantly impact the growth of your money.

Understanding Asset Classes

When it comes to investing, understanding different asset classes is essential. An asset class refers to a group of investments that share similar characteristics and behave in a similar way within the financial markets. Each asset class has its own risk and return profile, making it important to diversify your investment portfolio across multiple asset classes.

Stocks: Stocks, also known as equities, represent ownership shares in publicly traded companies.

Cryptocurrency: Crypto, also known as equities, example like Bitcoin, Ethereum, Binance, Polygon, and Etc

Bonds: Bonds are debt securities issued by governments, municipalities, or corporations. When you buy a bond, you are essentially lending money to the issuer in exchange for periodic interest payments and the return of the principal at maturity.

Cash and Cash Equivalents: Cash and cash equivalents include money held in savings accounts, certificates of deposit (CDs), money market accounts, and short-term government treasury bills. These investments are considered the most liquid and have the lowest risk.

Real Estate: Real estate involves investing in properties, such as residential homes, commercial buildings, or land.

Commodities: Commodities are raw materials or primary agricultural products that can be bought and sold, such as gold, silver, oil, natural gas, agricultural products, and industrial metals.

Alternative Investments: Alternative investments refer to a broad range of assets beyond traditional asset classes.

Investment Terms and Concepts

When delving into the world of investing, it's crucial to familiarize yourself with key investment terms and concepts. Understanding these terms will not only help you navigate investment discussions but also enhance your comprehension of investment strategies and decision-making.

Risk and Return: Risk and return are fundamental concepts in investing. Risk refers to the potential for investment losses or volatility, while return represents the gain or profit earned from an investment.

Asset Allocation: Asset allocation refers to the process of dividing your investment portfolio among different asset classes, such as stocks, crypto, bonds, cash, and real estate.

Diversification: Diversification involves spreading your investments across different asset classes, sectors, industries, and geographic regions.

Portfolio: A portfolio refers to the collection of investments held by an individual or an institution.

Return on Investment (ROI): Return on Investment (ROI) is a measure used to evaluate the performance of an investment.

Compound Interest: Compound interest is the process of earning interest on both the initial principal amount and any accumulated interest from previous periods.

Dollar-Cost Averaging: Dollar-cost averaging is an investment strategy that involves investing a fixed amount of money at regular intervals, regardless of market conditions.

Market Capitalization: Market capitalization, often referred to as "market cap," is the total value of a publicly traded company's outstanding shares.

Dividends: Dividends are payments made by companies to their shareholders as a distribution of profits.

Bull and Bear Markets: Bull and bear markets are terms used to describe the overall trend in the financial markets.