Category Archives: Cryptocurrency
Exploring Cryptocurrency Trading in the Eurozone: What’s Happening and What’s Next – Modern Diplomacy
Cryptocurrencies are getting a lot of attention in the Eurozone lately. People are curious about why money is flowing into these digital currencies and what it means for trading. In this article, well take a closer look at why more money is coming in, how people are trading cryptocurrencies, the challenges they face, and what the future might hold.
Lots of money is pouring into cryptocurrency markets in the Eurozone. Why? Well, rules about cryptocurrencies are becoming clearer, economies are changing, and people worldwide are becoming more interested in digital money. This all adds up to more money being invested in cryptocurrencies.
Margin trading is akin to taking out a loan to invest in cryptocurrencies. This approach can potentially boost your profits, as it allows you to trade with more money than you actually have. However, its crucial to grasp that this amplified potential for gains also comes with increased risk. If the market moves against your position, you could end up losing more than your initial investment. Therefore, its essential to thoroughly understand the risks associated with margin trading before diving in.
Bitcoinist offers a comprehensive list of top crypto exchanges with margin trading services. Whether youre a seasoned trader or just starting out, these platforms provide the tools and resources you need to engage in margin trading with confidence. Dont miss out on the opportunity to maximize your trading potential with margin trading.
Trading cryptocurrencies in the Eurozone is fast-paced. People are buying and selling different digital currencies on many different websites. This creates a lot of action in the market, with prices going up and down quickly. Understanding how this trading works is key for anyone getting involved.
But its not all smooth sailing. There are some big challenges. Rules about cryptocurrencies are still uncertain, which makes it hard for investors to feel safe. Plus, there are worries about security, like hackers stealing digital coins. These challenges can make investing in cryptocurrencies risky.
Rules about cryptocurrencies vary from country to country in the Eurozone. Some places have clear rules, while others are still figuring things out. Clear rules could make people feel more confident about investing in cryptocurrencies.
Despite the challenges, the future looks bright. Big companies are starting to get interested in cryptocurrencies, and technology keeps getting better. This could mean more chances for everyone who wants to get involved.
1. What is margin trading, and how does it impact cryptocurrency markets?
Margin trading lets you borrow money to invest in cryptocurrencies, which can help you make more money, but it also means you could lose more if things go wrong.
2. What are some key factors driving capital inflows into Eurozone cryptocurrency markets?
Clearer rules, changing economies, and more interest in digital money are bringing more money into Eurozone cryptocurrency markets.
3. What are the main challenges facing Eurozone cryptocurrency markets?
Uncertain rules, worries about security, and concerns about fair trading are some of the main challenges facing Eurozone cryptocurrency markets.
4. What are the prospects for future growth in Eurozone cryptocurrency markets?
The future looks promising, with big companies getting interested in cryptocurrencies and technology improving. This could mean more chances for people who want to invest in cryptocurrencies.
In summary, cryptocurrency trading is picking up speed in the Eurozone. Understanding the trends, challenges, and future possibilities can help investors make smart decisions in this exciting but sometimes risky market.
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Exploring Cryptocurrency Trading in the Eurozone: What's Happening and What's Next - Modern Diplomacy
Millennials and Gen Z are as likely to own cryptocurrency as they are real estate – PR Newswire
New Policygenius survey shows younger Americans are also more likely to try viral "hacks" and turn to social media for financial advice
NEW YORK, April 9, 2024 /PRNewswire/ -- When it comes to wealth, younger Americans specifically millennials and Gen Z have some catching up to do, especially considering adult members of these generations own just 74 cents for every $1 of wealth that baby boomers owned at the same age.
New data released todayshows that together Gen Z (ages 18-26) and millennials (ages 27-42) are almost equally likely to own cryptocurrency (21%) as they are to own real estate (20%). They are also more likely to try financial "hacks," often popularized on social media. In fact, 62% of the members of these younger generations have tried at least one of the six financial hacks we asked about in the survey, with the "no spend challenge" the most popular with Gen Z (21%) and almost two in 10 millennials (19%) having tried extreme couponing. Only 36% of Gen X (ages 43-58) and baby boomers (ages 59-77) have tried any of the financial hacks maximizing credit card rewards was the most popular hack for these generations (21% and 19% respectively).
New survey shows younger Americans specifically millennials and Gen Z have some financial catching up to do.
The 2024 Policygenius Financial Planning Survey found that the feelings different generations have about their finances vary greatly as well, with around three-quarters of baby boomers (78%) saying they feel at least somewhat proud of their finances, compared to 70% of millennials and 64% of Gen Z.
The survey also found that:
"Younger generations store their wealth differently than their Gen X and boomer counterparts, including novel investments like cryptocurrency. This could show a bigger willingness to take risks with their money, but it could also reflect obstacles they can't control, like the growing housing shortage," Myles Ma, Certified Personal Finance Counselor at Policygenius, said. "Buying a house may be out of reach at the moment for many, but taking big financial risks isn't necessarily going to help. More time-tested options stocks, bonds, life insurance will serve you better in the long run, especially if something happens to you and your loved ones need the financial coverage for their living expenses, like paying a mortgage or college tuition."
Policygenius commissioned YouGov to poll 4,063 Americans age 18 or older. The survey was carried out online from Oct. 16 through Oct. 19, 2023. The results have been weighted to be representative of all U.S. adults. The average margin of error was +/- 2%.
About PolicygeniusPolicygenius, a Zinnia company, is a one-stop insurance platform that makes it easy to compare and buy policies, get unbiased expert advice, and manage an insurance portfolio in one seamless digital experience. Alongside the intuitive enterprise technology solutions and insights offered by parent company Zinnia, an Eldridge business, Policygenius is helping create better end-to-end insurance experiences for shoppers, advisors, and insurers alike and enabling more people to protect their financial futures along the way.
For more information:Brooke Niemeyer Director of Media Relations [emailprotected]
SOURCE Policygenius
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Millennials and Gen Z are as likely to own cryptocurrency as they are real estate - PR Newswire
Binance Is Building ‘Robust Compliance Program,’ CEO Says – PYMNTS.com
Binances new CEO said the cryptocurrency exchange is a more mature company now.
Speaking with CNBC Tuesday (April 9),Richard Tengacknowledgedconcernsraised by theU.S. Department of Justice which fined Binance $4.3 billion last year over the companys better to ask for forgiveness than permission ethos.
In those very early stages of development Binance was operating in a certain fashion, Teng told CNBCs Arjun Kharpal at the Paris Blockchain Week crypto conference. But we have moved past that. As the company moves into greater maturity, we are looking at sustainability. The direction of travel now is very clear toward much more compliance, which is why were building up a very robust compliance program.
Binance agreed topay the finein November to settle a case brought by the federal government. Former Binance CEOChangpeng Zhaopleaded guilty to failing to establish proper money laundering controls and agreed to resign from the company. He is due to be sentenced in three weeks and could face up to 18 months inprison.
The plea deals marked the conclusion of a lengthy investigation into the worlds largest crypto exchange.
Prosecutors said that Binance under Zhao had prioritized Binances growth over compliance with U.S. law, CNBC reported.
U.S. authorities also accused Binance of permitting transactions between users in the U.S. and those in jurisdictions that were under American sanctions, per the report.
Meanwhile, Binance is contending with legal issues in other countries, such as Nigeria, where its head of financial crime compliance,Tigran Gambaryan, has been charged withtax evasionand money laundering.
Gambaryan, who is a U.S. citizen, has beendetained in Nigeriasince arriving in the country last month after the government said Binance was operating there illegally.
He was taken into custody along with another executive, Nadeem Anjarwalla, a British-Kenyan who is Binances regional manager for Africa. Anjarwallaescaped custodyand fled Nigeria in March. Binance has said Gambaryan was not responsible for any actions by the exchange, as he had no decision-making power in the company.
Both Gambaryan and Anjarwallasuedthe Nigerian government last month, accusing the countrys national security advisor, Nuhu Ribadu, and the Economic Financial Crimes Commission of violating their fundamental human rights. The executives have asked the Federal High Court to order the agencies to release them, return their passports and apologize publicly.
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Binance Is Building 'Robust Compliance Program,' CEO Says - PYMNTS.com
Treasury Asks Congress for Stronger Crypto Sanction Powers – PYMNTS.com
The U.S. Treasury Departmentwants more tools to curb terror financing.
Deputy Secretary Adewale O. Adeyemois due to testify before the Senate Banking Committee Tuesday (April 9) and ask lawmakers for greater authority to block terrorist groups and state actors for using things like overseas cryptocurrency exchanges to fund their causes.
Our problem is that actors are increasingly finding ways to hide their identities and move resources using virtual currency, Adeyemo said intestimonyreleased ahead of the hearing.
These groups continually seek new ways to move their resources in light of the actions we are taking to cut them off from accessing the traditional financial system, he added.
Per the testimony, the last year has seen Irans Quds Force send crypto to militant groups Hamas and the Palestinian Islamic Jihad in Gaza. Adeyemo said the Treasury took action against networks that sent smallerdonations to Hamas.
The more effective our targeting has been, the more reason there is for these terrorist groups to look into virtual assets, Adeyemo said. And, to be clear, its not only terrorist groups, but state actors like theDPRK and Russiaas well.
The Treasury department wants Congress to greenlight a secondary sanctions tool aimed at overseas digital-asset providers involved in illicit finance.
While we have had some success in rooting out illicit finance in the digital asset ecosystem, we need to build an enforcement regime that is capable of preventing this activity as more terrorists, transnational criminals, and rogue states turn to digital assets, Adeymo said.
Last month, the Treasury Departments Office of Foreign Assets Control (OFAC) cited 13 Russia-linked FinTechs for allegedly using cryptocurrencyto avoid sanctions.
Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine, Brian Nelson, under secretary of the U.S. Treasury for terrorism and financial intelligence, said at the time.
As the Kremlin seeks to leverage entities in the financial technology space, Treasury will continue to expose and disrupt the companies that seek to help sanctioned Russian financial institutions reconnect to the global financial system, he added.
Days later, Bloomberg News reported that authorities in the U.S. and Great Britain were investigating more than$20 billion in cryptocurrency transfersthat moved through an exchange based in Russia.
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Treasury Asks Congress for Stronger Crypto Sanction Powers - PYMNTS.com
Ripple CEO: Crypto Market Will Exceed $5 Trillion by Year’s End – PYMNTS.com
Will this be the year that cryptocurrencys market capitalization surpasses the $5 trillion mark?
RippleCEOBrad Garlinghouseseems to think so.
Speaking to CNBC Sunday (April 7), Garlinghouse said heexpects the valueof the crypto market to double in 2024, thanks to factors like the approval of the first U.S. spot bitcoin exchange-traded fund (ETFs) and the upcoming halving of bitcoin.
Ive been around this industry for a long time, and Ive seen these trends come and go, Garlinghouse said. Im very optimistic. I think the macro trends, the big picture things like the ETFs, theyre driving for the first time real institutional money.
Youre seeing that drives demand, and at the same time demand is increasing, supply is decreasing, he added. That doesnt take an economics major to tell you what happens when supply contracts and demand expands.
As CNBC notes, bitcoins halving is something that happens every four years, an event in which the total mining reward given to bitcoin miners is divided in half. It is slated to happen later this month, the report said.
In the case of ETFs, the U.S. Securities and Exchange Commission (SEC) approved these funds in January, allowing institutions and retail investors to gain exposure to bitcoin without needing to own the assets.
Crypto enthusiasts called the approval awatershed momentfor the digital currencies, though SEC Chairman Gary Gensler made it clear at the time of the approval that his position on bitcoin has not changed, saying it should not be taken as an indication that the regulator is ready to approve other listed securities.
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorsebitcoin, Gensler said. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.
Meanwhile, PYMNTS wrote last month that as the crypto market is making a comeback with bitcoin topping $70,000 and memecoins resurgent so too has crypto crime.
A recent report from theFBIs Internet Crime Complaint Center(IC3) shows that Americans made more than 43,000 complaints about cryptocurrency scams last year, with losses to crypto-based frauds and scams rising to$3.9 billion, up 53% year over year.
These scams are designed to entice those targeted with the promise of lucrative returns on their investments, the FBI noted.
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Ripple CEO: Crypto Market Will Exceed $5 Trillion by Year's End - PYMNTS.com
Bitcoin price predictions: How much more could it rise in 2024? – Euronews
Thinking about investing in the popular cryptocurrency? A recent report predicts that Bitcoin will reach a new all-time high in 2024.
Bitcoin (BTC) is expected to reach a new record of $88,000 (82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.
The cryptocurrency's current price sits at around $43,000.
UK fintech firm Finder carried out a study based onexpert price predictions of 40 crypto industry specialists on how Bitcoin is expected to perform through to 2030.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.
On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.
A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half. As things stand, those validating Bitcoin transactions currently get 6.25 bitcoins, which could go down to 3.125.
Halving events lead to a lower supply, with fewer Bitcoins made available, thereby leading to higher prices.
Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.
Kadan Stadelmann, CTO of blockchain platform Komodo, said in the report that Bitcoin is probably facing a fair bit of pressure, not only because of the expected halving event but also because "major companies and institutional investors [are] showing growing interest [in Bitcoin, which] is likely to drive demand."
Many experts forecast more buyers on the market following the US Securities and Exchange Commission's recent approval of 11 Bitcoin ETFs (exchange-traded funds), making it easier for individual investors to trade Bitcoin-related investment funds in the US stock exchanges.
The price could be propelled further upward once the US Federal Reserve cuts the historically high benchmark rate, as analysts expect more liquidity to consequently flow into Bitcoin.
However,John Hawkins, senior lecturer at the University of Canberra, believes that cryptocurrency is still little more than a speculative bubble.
"If the new spot Bitcoin ETFs are popular, there could be a temporary price increase. But, in the medium to longer-term, I still regard Bitcoin as a speculative bubble," said Hawkins, adding there were high expectations about similar ETFs entering the market in 2021, but the price crashed later.
BTC is expected to potentially climb to $122,688 (114,310) in 2025 and $366,935 (341,878) in 2030.
However, the truncated mean, a statistical measure of central tendency, puts the expected price at around $220,708 (205,636) by 2030.
Overall, the majority (58%) of panellists believe now is the time to buy BTC; 38% advise people to hold while 5% of panellists are in favour of a sale.
Cryptocurrencies are not regulated in the UK and there is no protection offered by the Financial Ombudsman or the Financial Services Compensation Scheme.
Disclaimer: This information does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances. Also remember, we are a journalistic website and aim to provide the best guides, tips and advice from experts. If you rely on the information on this page, then you do so entirely at your own risk.
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Bitcoin price predictions: How much more could it rise in 2024? - Euronews
Whats Tokenization? Why Are Banks Rushing to Do It? – Bloomberg
Cryptocurrencies were invented in the heat of the 2008-2009 financial crisis to provide an alternative to banks. The inventors of Bitcoin, who went by the pseudonym Satoshi Nakamoto, envisioned a financial system that didnt depend on trusted third parties that they said couldnt be trusted in the first place. Instead, it would use cryptography and a decentralized ledger called a blockchain to record transactions and provide irrefutable proof of ownership. Crypto evangelists said this would democratize finance and lower the cost of holding and using money.
Banks scoffed, calling crypto a cypherpunk pipe dream. But more than 15 years later, many banks and other financial institutions on Wall Street are not only in the cryptocurrency business (see ETFs, Bitcoin) but theyre also beginning to adopt the underlying blockchain technology. JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks are experimenting with or already offering private blockchain services, a concept that strikes many crypto lovers as oxymoronic. Banks are drawn to blockchain technology for its ability to tokenize traditional assets like stocks and Treasury bills, making trading them faster and cheaper. Critics say banks arent just adopting but co-opting the technology to generate fees, similar to how financial firms turned low-cost, low-touch exchange traded funds into a healthy business.
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Whats Tokenization? Why Are Banks Rushing to Do It? - Bloomberg
Today’s cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Tether – NewsBytes
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What's the story
Bitcoin has dropped 2.62% in the past 24 hours to trade at $69,255.24. Compared to last week, it is 4.47% up. Ethereum, the second most popular token, is down 4.57% from yesterday, and now trades at $3,524.94. It is up 6.35% from last week. Bitcoin and Ethereum have a market capitalization of $1,359.35 billion and $422.59 billion, respectively.
BNB is trading at $578.97, a 0.57% decrease from yesterday and 3.97% higher than last week. XRP's price is $0.66 today, falling 1.20% in the last 24 hours. Compared to last week, it is 3.66% up. Cardano and Dogecoin are trading at $0.55 (down 4.26%) and $0.11 (down 5.12%), respectively.
Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $171.59 (down 3.65%), $8.55 (down 5.24%), $0.000022 (down 4.69%), and $0.88 (down 5.93%), respectively. On the basis of the weekly chart, Solana is down 8.93%, while Polka Dot has fallen 1.22%. Shiba Inu is up 1.29% in the last seven days, whereas Polygon has lost 2.23%.
Looking at the 24 hourly movement, the top five gainers are Nervos Network, Bittensor, Fantom, Ethena, and KuCoin Token. They are trading at $0.033 (up 10.25%), $634.40 (up 8.99%), $1 (up 6.29%), $1.38 (up 1.87%), and $10.52 (up 1.29%), respectively.
A stablecoin is a cryptocurrency that has very low volatility. Its value is correlated to a real-world asset such as fiat currency or gold. Some of the popular tokens, Tether and USD Coin, are trading at $0.99 (down 0.01%) and $1 (down 0.01%), respectively.
The biggest losers of the day are dogwifhat, Wormhole, Conflux, Lido DAO, and Aptos. They are trading at $3.47 (down 15.48%), $0.88 (down 13.28%), $0.33 (down 11.05%), $2.68 (down 10.89%), and $12.57 (down 10.48%), respectively.
DeFi, short for decentralized finance, is an umbrella term for global, peer-to-peer financial services on public blockchains. Avalanche, Chainlink, Internet Computer, Uniswap, and Dai are some of the popular DeFi tokens. They are currently trading at $47.25 (down 3.83%), $17.46 (down 2.87%), $15.97 (down 8.54%), $11.19 (down 3.41%), and $1 (flat), respectively.
Non-fungible tokens (NFTs) are cryptocurrencies that cannot be exchanged for one another like othe tokens due to their lack of fungibility. Some of the popular NFT tokens are Internet Computer, Stacks, Immutable, Render, and Theta Network. They are currently trading at $16 (down 8.13%), $3.16 (down 7.43%), $2.65 (down 6.73%), $9.35 (down 9.09%), and $2.77 (down 5.42%), respectively.
The current global crypto market cap is $2.59 trillion, a 3.71% increase over the last day. The total crypto market volume over the last 24 hours is $99.16 billion, which marks a 2.09% increase. Last month, the global crypto market valuation was $2.6 trillion, while the total capitalization stood at $1.71 trillion three months ago.
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Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Tether - NewsBytes
FTX Creditors: Bankruptcy Could Have Revived Business – PYMNTS.com
Earlier this year, bankrupt cryptocurrency firmFTXcalled off plans toresurrect its exchange.
And that was amissed opportunity, some of the companys creditors told The Wall Street Journal in a report published Thursday (March 27).
They are responsible for destroying billions of dollars in value, said Arush Sehgal, one of those creditors. They had a thriving business that was the No. 2 exchange in the world, and all they had to do was turn it back on. But they failed to do so.
As the report notes, former customers of FTX say that the companys plan to repay them falls short, because they will receive the cash value for their crypto set to November 2022 standards, when the exchange went under.
But since then, bitcoin has ballooned in value,hitting record levels. Supporters of a relaunched FTX, the WSJ report said, argue that customers should receive shares in a new version of the exchange to help offset their losses.
FTX CEO John J. Ray III, who has overseen the company since its bankruptcy filing, told the WSJ his team carried out an extensive effort to find a buyer for the exchange or partners to merge with, but never received adequate proposals.
In each case, no serious investor was willing to give us material value when weighed against costs, delays and other factors, Ray said. We did not even receive a meaningful bid for any intellectual property because the code was obsolete and the brand synonymous with fraud.
That fraud was carried out by Rays predecessor, Sam Bankman-Fried, who is scheduled to be sentenced this week following hisconvictionin November 2023.
In avictim impact statementfiled last week, Ray argued that the one-time cryptocurrency wunderkinds statements that his former customers will be repaid in full is false.
Customers still will never be in the same position they would have been had they not crossed paths with Mr. Bankman-Fried and his so-called brand of altruism, Ray wrote.
Bankman-Fried faces decades in prison at his sentencing, with the prosecution asking Judge Lewis Kaplan to hand down asentence of 40 to 50 years.
In a recent court filing last week, prosecutors argued that Bankman-Fried showed unmatched greed and hubris in using customer funds for risky investments and personal expenditures.
In response, Bankman-Frieds attorneys countered that the proposed sentencing is based on a distorted narrative and amedieval view of punishment.
The defense team has already suggested a sentence of no more than six and a half years, and said in court last week that Bankman-Fried is not a super-villain.
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FTX Creditors: Bankruptcy Could Have Revived Business - PYMNTS.com
Cryptocurrency: 3 Coins Worth in Cents Are Set To Reach $1 – Watcher Guru
The cryptocurrency market is rallying this month as Bitcoin climbed above the $68,000 mark. Bitcoin retraced in price currently and is now hovering around the $66,800 range. The leading cryptocurrency is attracting heavy bullish sentiments and could climb above its all-time high of $69,044 soon. The ongoing rally has pushed altcoins to reach new monthly highs delivering stellar profits to investors. Read here to know the top 3 coins under $0.01 that could double in price this month and deliver better returns.
Also Read: After Embracing Bitcoin, Robert Kennedy Jr Supports Shiba Inu
However, now that the cryptocurrency market remains in greener pastures, three altcoins worth in Cents are aiming to reach $1. In this article, we will highlight the top three cryptocurrencies trading in Cents that might touch the $1 mark.
The leading metaverse platform, Decentralands native cryptocurrency MANA is currently trading at $0.67. Decentralands MANA spiked nearly 57% in the last 30 days delivering stellar profits to investors. The cryptocurrency has come out of its depression phase and is now targeting to reach $1. If Bitcoin climbs above its all-time high of $69,044, Decentralands MANA could also have chances to reach the $ mark next.
Also Read: BRICS: Bank of America Issues Warning of a US Dollar Collapse
Ripples native cryptocurrency XRP is attracting bullish sentiments. XRPs 24-hour trading volume saw an influx of funds touching nearly $2.5 billion. The large trading volume pushed Ripples XRP to hit $0.62 on Thursday and could move further up in the charts. Reports are also doing the rounds that Ripple could win the final verdict against the SEC in the lawsuit. If this happens, XRPs price could rally and chances of climbing above $1 remain high.
Also Read: Cardano Inches Closer: Only 28% Away From Reaching the $1 Milestone
Cardanos native token ADA spiked close to 50% in the last 30 days. The leading cryptocurrency is attracting bullish sentiments as ADA reached the $0.73 mark on Thursday. Bulls are pushing Cardanos ADA towards the $0.80 level and eventually take it to $!. The cryptocurrency market might experience a rally and ADA could lead the way in the short term.
Also Read: Can PEPE Coin Hit $0.01 in March 2024?
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Cryptocurrency: 3 Coins Worth in Cents Are Set To Reach $1 - Watcher Guru