All About Cryptocurrencies: Beginner's Guide - cyptoranking.com

2024-05-07

Popular crypto exchanges(2023 Update) 2024-05-07
Image: cyptoranking.com

Ethereum has registered some decline recently, as the coin’s price is now retesting the same lows as back in August.Benjamin Cowen Doubles Down on Ethereum Call, Says Big ETH Collapse By End of the Year Most Likely Outcome The Metaverse is directly connected to technologies such as blockchain, augmented reality (AR), VR, and non-fungible tokens (NFTs). All About Cryptocurrencies: Beginner's GuideSource: a video screenshot, ABC News / YouTubeAs the trial of Sam Bankman-Fried enters its second week, his lawyers are seeking to question FTX co-founder Gary Wang about his reliance on legal advice regarding loans from Alameda Research. In a legal filing made late Monday night, Bankman-Fried's defense team requested permission from the judge to explore Wang's understanding of these loans, which were used for venture investments and personal expenses, including purchasing a house in the Bahamas.The defense argues that Wang's belief that these were legitimate loans, structured by lawyers and documented in formal promissory notes, is essential in countering the prosecution's claim that the loans were merely a ruse orchestrated by Bankman-Fried to conceal the origin of the funds. The filing highlights Wang's statement that he trusted the lawyers involved and didn't believe they would advise him to engage in any illegal activities.The relationship between FTX and its hedge fund arm, Alameda Research, has become a focal point in the criminal case against Bankman-Fried. Prosecutors allege that he misused funds transferred to Alameda as his personal finances. Bankman-Fried has pleaded not guilty to the fraud charges, and his defense team contends that the involvement of company counsel in the loan arrangements suggests his lack of awareness regarding any impropriety. However, Judge Lewis Kaplan has ruled that discussions about legal advice could confuse or bias the jury and therefore cannot be included in the defense's opening statement.Wang to Conclude Testimony on TuesdayWang is expected to conclude his testimony on Tuesday, after which Caroline Ellison, the former head of Alameda Research and Bankman-Fried's former girlfriend, will take the stand. Both Wang and Ellison have pleaded guilty and are cooperating with investigators.Last week, Wang testified in court, admitting that he and former FTX boss Sam Bankman-Fried committed wire fraud. He revealed to the jury that he and Bankman-Fried engaged in financial crimes and deceitful practices that ultimately led to the collapse of the cryptocurrency trading platform.As the chief technical officer at FTX and a co-owner of Alameda Research, a cryptocurrency hedge fund founded by Wang and Bankman-Fried in 2017, Wang confessed to committing wire, securities, and commodities fraud. He disclosed that the duo illegally withdrew a staggering $8 billion from FTX funds through Alameda Research. Wang further claimed that Bankman-Fried directed these illicit actions.As reported, Daniel C. Silva, former assistant US attorney and shareholder at law firm Buchalter, believes that Bankman-Fried's defense might be setting the stage for a potential appeal if the disgraced crypto boss is found guilty. By focusing on minutiae, the defense could argue that they were deprived of sufficient time and opportunity to prepare an adequate defense, potentially calling into question the fairness of the trial."One of the things [the defense] may be doing is suggesting, ‘This thing moved at light-speed and we were not given a full opportunity to prepare for trial,'" Silva said. "'We need to ensure that we fully understand what every witness is saying because we didn't have an adequate opportunity to prepare [...] an adequate defense as required by the U.S. Constitution.'"Shiba Inu Price Prediction as SHIB Could Skyrocket to $0.00003000 – Will History Repeat Itself with an 822% October Surge? Given that, it kind of makes sense that it will all happen, at least that approval or disapproval decision, will happen at the same time for everyone.

Exchange Rankings Crypto
Image: cyptoranking.com

The spring/summer 2024 edition of Milan Fashion Week was an amalgam of elevated luxury fashion presentations, opulent parties in palazzos and rooftops, and digital fashion events. The widening trend of Bollinger bands in the CYBERUSD price chart, with the upper and middle bands at $5.17189606 and $4.78807254, indicates higher market volatility. Buying and selling cryptoThe world of cryptocurrencies is quite technically advanced, and its fundamental premise is not entirely simple to understand. In particular, for people who have only just joined and are interested in gaining more knowledge about cryptocurrencies. The Ultra team recently attended the major gaming conference Gamescom, where Gilot reports that interest from game developers and publishers, eSports organizations and investors was high as the video game industry seeks new ways to stay afloat during challenging times.

The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000. On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. FBI DISRUPTS VIRTUAL CURRENCY EXCHANGES...Lubin: The situation’s similar to the post-dotcom boom and bust period. We had all this excitement and a lot of amazing evolutionary breakthroughs. Then something big happened. It was a big technological thing. A blow off. A big financial thing. And for the next ten years, all those people got busy. They took failed approaches and improved them. They took their expertise, formed a new company, joined a new company. All those people built e-commerce. They built the web and they transformed the way the planet works. The $0.24 support could bolster a 15% rally in the near future

AWS's quick expansion and scale have enabled it to develop a dominant position in the cloud services market. AWS has the biggest market share among cloud providers, with a significant lead over competitors such as Microsoft Azure and Google Cloud Platform. Security concerns Is MetaMask a safe wallet?The Bitcoin rat. Source: Saiers “We want to show that blockchain can co-exist effectively with the biotech industry,” he said.

Have an opinion on this story? Share it!