Cryptocurrency adoption in Africa - cyptoranking.com

2024-05-08

Popular crypto exchanges(2023 Update) 2024-05-08
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Arbitrageurs, those who use crypto arbitrage trading, are often experienced investors. They study and observe how to take advantage of the market’s small price differences and turn it into potential profits. RPL Stays Bearish Cryptocurrency adoption in AfricaChart with 4-hour candles showing the recent decline in the LINK price. Indicatively, the cumulative balances of whales holding 100,000 to 1 million BCH stood at an aggregate of 2.41 million as of September 21. But remarkably, it has since gradually increased to 2.57 million at press time on October 9.

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Among those identified are Caroline Ellison, SBF’s erstwhile co-worker and partner. 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. How to buy Bitcoin in the UK with a debit card“Anything else we can usefully accomplish tonight? Am I going to be expecting another midnight filing?” Kaplan asked counsel last week. CleanSpark’s share price increased 4.61% to $3.63 on Oct. 4, according to Google Finance.

According to Avast, "LoveGPT" can create convincing fake profiles on at least 13 different dating sites, meanwhile scraping users' photos, texts, and data. It categorizes users into age groups, likely to facilitate the creation of realistic fake profiles for targeted manipulation. The tool uses multiple databases to store details like profiles, conversations, email addresses, and a running log of AI-generated messages. Before reaching the descending resistance trendline, the LINK price deviated below the $5.60 horizontal support area and then reclaimed it. It created a higher low in August (green icon), validating it as support before resuming its ascent. Nigeria bans world's largest crypto exchange“Collectively, there is a sentiment that we need to see increased real-world adoption, more regulatory certainty particularly in the USA, greater institutional investment leading to higher prices [and] greater M&A currency, and new digital asset developments to see growth,” Architect Partners’ Elliot Chun said in a statement. In a statement, Mahajan said that the experience of seeing Zynga pull FarmVille offline in 2020 inspired him to explore the use of blockchain technology to design and deploy “forever games.”

NEAR protocol has shown a poor price performance this month. The NEAR coin decreased by 9.51% in the last 7 days, going from $1.21 on October 3rd to $1.10 on October 10th. This is part of a longer downward trend that has seen the NEAR coin lose 52.84% of its value in the last 6 months, going from $2.33 on April 10th to $1.10 on October 10th. The indicator is above 50 (green icon) and moving upwards, both signs of a bullish trend. Additionally, the breakout was preceded by a bullish divergence (green line). Heightened interest in cryptocurrencies, globally and locallyObservers often have fun ridiculing Meta for dumping billions of dollars into metaverse research only to seemingly produce cartoonish avatars and wonky-looking legs. Source: Pepecoin Twitter

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