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Binance CEO: I Heard Coinmarketcap Will Start To Rank Countries That Accept Crypto As Legal Tender

Mark Brennan
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Binance CEO: I Heard Coinmarketcap Will Start To Rank Countries That Accept Crypto As Legal Tender

Binance CEO Changpeng Zhao, on his Twitter page, said the analytical service CoinMarketCap will start to rank countries that accept crypto as legal tender.


Binance CEO, Changpeng Zhao, shared a post on his twitter saying:

“I heard CoinMarketCap will start to rank countries that accept crypto as legal tender.”

Binance CEO Tweet:

Binance CEO twitter followers reminded Zhao that CoinMarketCap service belongs to the Binance and Binance belong to CZ itself.

strorm gain affiliate

Other users advised CZ that instead of creating a rating, He should work on buying crypto more easier and simpler.

It’s still very difficult to buy crypto. Easy version for buying costs to much. Cex is difficult. dex is much more difficult. You are losing a lot just learning the steps. Make it easy for people is a big evolution. Can Tech guys think like non tech people ? I think they cant for now.


CoinMarketCap official Twitter account responded to CZ’s statement with a comment “To be continued”.

 

 

Cardano Price Analysis: Cardano Bulls Are Back After Recent Sell-off

Albert Brown
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Cardano Price Analysis: Cardano Bulls Are Back After Recent Sell-off

As crypto market crashed Cardano price droppe 30% from June 20 to June 22. After a sharp falls comes a sudden price increase as ADA is all set to retest $1.46, but on-chain data shows that climb will not be easy.

Read: Why China Is Cracking Down On Bitcoin Mining And Crypto Trading


Cardano price touched May 19 low of 1.041 USD creating a bottom and risen sharply. ADA 200 day moving average provided a solid support to the fast falling Cardano prices. More upward movement seems to be coming, But on-chain data shows that upswing will not be easy.

Read: China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

ada price analysis 23-6-21

Cardano price sets a local low at $1.041 which was a 30% decline. After the lows ADA price rise sharply and currently trading at 1.27 USD. The next hurdle for ADA is $1.461.

The bulls need to push through $1.367 to reach $1.461. A 4-hour candle closing above $1.491 will indicate buying opportunity. it will also tag the supply zone, ranging from $1.535 to $1.644.

Support: 0.993 to 1.0741

Resistance: 1.367 to 1.461

ADA On-Chain Data:

As ADA price drops Cardano new addresses increases by 23% that shows investors keen interest in buying ADA at low prices.

The IntoTheBlock’s Global In/Out of the Money (GIOM) model shows that the uptrend face a tough journey.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

About 215,000 addresses purchased 3.92 billion Cardano at an average price of $1.34 and these investors are “Out of the Money.”

This group of underwater investors are present up to $1.88. Therefore bulls needs to power up and smash through these resistance zones as weak hands would definately sell as ADA price will grow. The upward motion will be hindered if there is a rejection at $1.326.

Read: Input Output Global (IOG) Partner World Mobile Launching Their Token On Cardano

Investors should focus on the large transaction metric. This on-chain index tracks ADA transfers worth $100,000 or more and has increased from 2,500 to 4,540 in the past four days.

 

Often an increase in large transactions shows local tops, therefore, the recent increase in this on-chain index may indicate a coming potential sell-off.

ada large transactions

The worst scenario for ADA will be if prices breaks $1.00 support, that will bring more sellers and price can face a sharp decline up to 0.86 USD.

 

Brave Taking Aim At Google As Brave Launches Search Engine Beta With Privacy-Protecting Feature

Mark Brennan
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Brave Taking Aim At Google As Brave Launches Search Engine Beta With Privacy-Protecting Feature

Crypto Web Browser Brave has entered the search world with a new beta search engine that protects privacy.


The platform aims to take over Google, which collects personal data and browsing habits while serving targeted ads and customized search results. But Brave faces a tough battle with the tech giant, which accounts for over 90% of the market.

In a June 22 announcement, Brave said it has launched a beta version of Brave Search built into its browser, offering users “the first independent privacy search/browser alternative to big tech.”

 

Users wishing to test the non-privacy-tracking Brave search engine will find it at search.brave.com. It was built around an independent index that does not track users, their searches, and their clicks, and will appeal to those looking to avoid tech-based surveillance products like Google search or Microsoft Bing.

The search engine will include a “Google fallback” option for those who still want to use the results from the global tech giant’s search engine or if they dont get enough results they wanted.

Brave Search will initially not serve ads, avoiding Google’s primary way of monetizing search results. However, in the future it will offer free ad-supported search along with a paid option without ads and will include its Basic Attention Token (BAT).

“When we are ready, we will explore bringing private ads with BAT revenue share to search, as we’ve done for Brave user ads.”


Chief Executive of Brave browser, Brendan Eich sais that it is crucial for the success of Brave search to get a lot of people searching on Brave Search.

Report: Why China Is Cracking Down On Bitcoin Mining And Crypto Trading

Mark Brennan
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0
Report: Why China Is Cracking Down On Bitcoin Mining And Crypto Trading

Bitcoin the King of crypto market is falling along with overall market prices, The fall of crypto market is because of China crackdown on Crypto trading and BTC mining operations.


Read: China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

Bitcoin is down more than 15% and altcoins are bleeding more as usual after harsh China measures toward BTC and Crypto.

Why China Crypto Crackdown?

Beijing always want to control everything, from social media to financial system they want a complete control. As it is difficult for China to trace every single BTC and other crypto transaction so they cannot regulate it, and this loosen China grip on crypto, which they never want to nor allow.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

China central bank, People Bank of China (PBOC) banned any form of crypto trading ordering Banks and Payment Providers not to Deal with Crypto-Related Businesses Including Exchanges to “prevent and control financial risks”.

As China has strict rules for outflow of capital, Analysts say the ban is because China fears the proliferation of illicit investments and fundraising. According to Analysts, crypto is a threat to China financial controls.

Jeffrey Halley, Asia Pacific analyst said:

“China does not have an open capital account and cryptocurrencies circumvent this which is an anathema to China’s authorities,”

Many analysts thinks that China ban on crypto trading and BTC mining is only because they want to introduce their own blockchain-based, state owned Digital Yaun. Digital Yaun will enable China government to monitor each and every transaction in a way they want to.

China cheap power and mining hardware enabled companies to power almost 80 percent of the global crypto trade.

Bloomberg predicted that China will not be able to meet its crypto industry’s needs through renewable energy until 2060 as China relies on polluting type of coal, lignite, to power some of its mining firms.

As crypto mining consume a lot of energy and electricity, according to Cambridge University, Bitcoin Electricity Consumption Index, Crypto-mining is expected to use 0.6 percent of the world’s total electricity production in 2021.

Because of such high crypto power demands, China restrictions may be because there is a surge in illicit coal extraction and environmental issues that is serious risk to Beijing climate goals.

Colin Wu, Chinese journalist, who won 2013 China News Award tweets:

 

Read: BTC Mining Difficulty Dropped Twice In One Month As All Bitcoin Mining Facilities In Sichuan Will Be Powered Off On June 20

China Digital Currency Plans

China has made their Digital Yaun and it will allow China to reduce dependency on Dollar and conduct worldwide transactions.

Analyst Halley said:

“It is about making the Yuan more internationally available whilst maintaining complete control,”.


Leonhard Weese, Co-founder of The Bitcoin Association of Hong Kong said that it is not easy to take down Bitcoin.

“Bitcoin only marginally competes as a payment system, At the moment, its main appeal is that it cannot easily be seized, censored and debased.”

Vechain Price Analysis: VET Lost Crucial Support Of 200 Day Moving Average-What’s Next?

Mark Brennan
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0
Vechain Price Analysis: VET Lost Crucial Support Of 200 Day Moving Average-What’s Next?

Vechian price breaks two important support levels, and $0.065 which is May 23 low may come into play as a support. Overall crypto market is bearish because of China Central Bank has Restricted Banks and Payment Providers not to Deal with Crypto-Related Businesses Including Exchanges along with China complete crackdown on BTC miners.


Read: China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

Along with VET price decline, the Vechain social media volume is also steadily going down.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

Vechain price is down more than 25% in last 24 hours. VET rounded top has played its role in sharp decline of digital assets with no clear support until May 23 low of 0.065 USD.

Read: Our Report On Why China Is Cracking Down On Bitcoin Mining And Crypto Trading

vet price analysis 22-6-2021

Vechain price is down 75% from the April Highs, as the Vechain offered some warning signs before falling. BTC/USDT saw a move above 25% from 8-6-2021 to 15-6-2021 but VET price did not responded to BTC move which was early sign that VET bulls were exhausted and there is lack of accumulation and too much pressure from declining VET 50 day moving average, that made VET price to fall sharply.

As mentioned in our previous Vechain price analysis, 200 day moving average was the main support and a sign of relief for falling VET coin but that support was breached and on 21-6-2021 VET price closed well below the 200 day moving average that opened gates for further decline.

The next possible support is May 23 low of 0.065 USD, if Vechain is unable to hold that support, we can expect further decline. The other major support is at 47% decline, that is 78.8% Fibonacci retracement of the rally from the end of December 2020 at $0.039 as shown in the chart.

The best possible bullish scenario for Vechain price is the daily candle closing above 0.10 USD. A significant close above 0.10 can encourage traders to open new longs, but traders should stay on sidelines before any clear buy signal arise.

Vechain Social Media Volume:

Social media power cannot be overlooked. Social media can really drive crypto market prices higher. According to Santiment Social Volume metric, Vechain social media is facing downtrend since April price top, but the good sign is indicator may be bottoming as the 7-day average turned higher in previous days.

vet social media indicator

Social Volume metric move higher when prices are rising and go lower as market move down but incase of Vechain the metric is performing oppositely. Vechain new period of social media interest can be confirmed if the indicator close above recent high of 177 that could make a double bottom for the 7-day average of social media interest.

 

Conclusion:

Vechain price is in a vacuum with no support until $0.065. Vet price fall that made daily candle of 21-6-2021 closing below 200 day moving average can have major negative impact on Vechain price. A breach of strong support of 200 day moving average can now act as a strong resistant to any upside move. Traders should trade with caution but it is better to be on sidelines in such market conditions.

Disclaimer: The article is for informational purpose only and not a financial advice by any means. You should do your own research before investing in any financial instrument. 

China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

Jakkk
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0
China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

China central bank has ordered five banks and several payment firms, including Alipay, not to deal with any crypto-related companies, including exchanges.


According to Bloomberg journalist Walter and Chinese crypto journalist Colin Wu, the People’s Bank of China has been in talks with several of the country major banks and payment firms to stop providing services to digital currency businesses.

 

An article published by the Central Bank of China (PBOC) says that the China State Bank has spoken to five major banks in the country, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Postal Savings Bank of China, and Alipay on the hype that has been building around cryptocurrencies this year.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

The talk summary is that PBOC thinks that trading in cryptocurrencies violates the financial and economic order of the country, increases the risks of illegal transfers of funds, money laundering and other illegal activities.

Top officials from the central bank also added that cryptocurrencies endanger the safety of people in China. From now on, banks must strictly follow KYC procedures and are prohibited from opening accounts for crypto trading firms. They must also abandon operations with all the crypto-related business.

 

This PBOC requirement applies to all banks in China.
The aforementioned banks and companies have agreed not only to follow the instructions received, but also to intensify investigations of crypto trading companies and to suppress activities that help increase hype around virtual currencies in general and crypto trading in particular.

Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

Albert Brown
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0
Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

Crypto market is loosing billions. There are three main reasons of falling cryptocurrency market:


  • FOMC (Federal Open Market Committee) Report:

“The U.S Federal Reserve (FED) signaled at the end of its monthly FOMC meeting on Wednesday that it will raise interest rates at least twice by the end of 2023 to 0.6%. Out of 18 Fed officials, 11 forecast at least two quarter-point interest rate increases for 2023 which is a sign that the central bank has begun asset tapering discussions. This caused the dollar index to gain significantly, thereby pushing Bitcoin and the entire cryptocurrency space bearish.”

Read: Our Report On Why China Is Cracking Down On Bitcoin Mining And Crypto Trading

  • Bitcoin Death Cross:

“The death-cross is defined by a cross of the 50-day exponential moving average (EMA) below the 200-day EMA. The cross happened on Friday and it propelled the sell-off the market saw over the weekend.”

  • China Crack Down On BTC Mining:

“Sharp falling BTC prices is because of China’s Sichuan province halting Bitcoin mining. Thanks to Chinese authorities, it has become a lot easier to find and add new blocks in Bitcoin blockchain.

26 mining companies were given strict order from China National Development and Reform Commission (NDRC) and Sichuan Energy Bureau to finish off their mining operation. BTC miners had to switch off their mining machines on Saturday.

AntPool and Huobi.pool lost over 30 percent of their hashrate, Foundry USA was the only mining pool was able to remain in the green.

In Q3 2019 Sichuan was responsible for 37 percent of global hashrate because of plentiful hydroelectricity. Leaving Sichuan is a big blow to BTC mining firms.

Before Sichuan, Inner Mongolia, Qinghai, Yunnan and Xinjiang also moved to clamp down on the mining industry.

According To 8BTCnews:On June 20 all Bitcoin and other virtual currency mining facilities in Sichuan will be powered off.”

Read Our Report: BTC Mining Difficulty Dropped Twice In One Month-All Bitcoin Mining Facilities In Sichuan Will Be Powered Off On June 20

Breaking: China Crypto Crack Down Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges.

Read Details: https://thecryptobasic.com/2021/06/21/china-central-bank-restricts-other-banks-to-deal-n-crypto/

Crypto Market Liquidations

$1 Billion has been liquidated in Crypto markets in matter of hours. BTC almost touched $32000 and ETH went below $2000. As always leverage traders felt the most pain of these falling crypto market.


According to Bybt, total liquidations have reached $1 billion in the past 24 hours. Although BTC leverage traders lost 50% of the total liquidations, but the single liquidation came from EOS trader. The unfortunate trader lost more than $6 million on Huobi in a single trade.

 

Charles Hoskinson: Bitcoin Is “Own Worst Enemy”

Mark Brennan
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0
Charles Hoskinson: Bitcoin Is “Own Worst Enemy”

Cardano Founder Charles Hoskinson said that Bitcoin has major disadvantage because of its slow speed, environmental issues and proof-of-stake networks can easily take place of BTC.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week

Read: Input Output Global (IOG) Partner World Mobile Launching Their Token On Cardano


He expresses his thoughts In a five-hour Podcast with AI researcher, Lex Fridman. Hoskinson said that because of superior speed and functionality proof-of-stake networks will over take BTC.

Read: China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

Hoskinson said:

“The problem with Bitcoin is that it is so slow — it’s like the mainframe programming of the past. The only reason it’s still around is because there is so much invested in keeping it around.”

Hoskinson exclaimed:

“You have to upgrade the damn thing!”

Hoskinson criticized the Bitcoin community for not brining innovations in BTC:

“It [Bitcoin] is its own worst enemy. It has the network effects, it has the brand name, it has the regulatory approval. But, there’s no way to change the system, even correcting obvious downsides in that system.”

On a Question that what he will choose if he has only two options to select BTC and ETH, and Who will win the battle between them, Hoskinson answered:

“If I had to bet between just those two systems, I’d say nine times out of ten Ethereum is going to win the fight against Bitcoin.”


Hoskinson said that battle for crypto dominance has become much more complex. BTC and ETH have strong competitors like Cardano that are a threat to Top two market leaders in long run.

Read: Charles Hoskinson Announced That Cardano Developers Will Soon Release New Research Paper On Algorithmic Stablecoins

Watch Podcast (Time Line Below Video):

1:31:47 – The problem with Bitcoin

1:21:52 – Cardano vs Ethereum vs Bitcoin

 

How Vechain Blockchain Can Be Useful In Dairy Products Market

Mark Brennan
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0
How Vechain Blockchain Can Be Useful In Dairy Products Market

China is currently one of the fastest growing markets for dairy products in the world. The Coronavirus epidemic has brought an unprecedented upsurge of “health first”, which is reflected in dairy products. Low-temperature milk, which focuses on the quality and stability of raw milk, has been favored by more consumers.

Read: Why Crypto Market Lost $120B In A Day And $270 Billion In 1 Week



According to data from Tmall Mall, the sales volume of room temperature milk in 2020 has increased by 50%, while the sales volume of low-temperature milk has increased by up to 150%.

Read: Vechain Sync 2 and Connex 2 Beta: Are They Coming Before June End?

China’s dairy product consumer market may break the 550 billion Yuan mark ($850 million) in 2024. The deployment of low-temperature milk is undoubtedly the key to maintaining competitiveness for enterprises.

Read: China Crypto Crackdown Expands As China Central Bank Restrict Banks and Payment Providers to Deal with Crypto-Related Businesses Including Exchanges

Vechain Blockchain technology can help companies seize opportunities from the following perspectives:

Full Cold Chain Logistics Management Capabilities

Vechain Blockchain can have strong applicability in the fresh product supply chain scenario, especially in the field of low-temperature milk where “from farm to table” does not exceed 24 hours. From an internal point of view, the Vechain on-chain data is transparent and tamper-proof, which can help companies strengthen the entire production process control and implement the most stringent quality standards . Provide consumers with 100% fresh and good milk.

Read: How Vechain Blockchain Is Changing Everyday Life

Externally, Vechain on-chain data can improve the efficiency of brand rigid cold chain management, prevent products with incorrect dates or unqualified temperature control from entering the market, and reduce participant disputes.

Refined Traceability System

Vechain Blockchain can be combined with the Internet of Things technology to realize the traceability of milk products that can be extremely precise. Based on this traceability system, companies can create more flexible and cost-controllable supply chain management methods, improve supplier management efficiency, and easily integrate retail system resources.

Read: A Comprehensive Long List Of Vechain Food Safety Use Cases

Data Visualization And New Retail

Vechain blockchain-based traceability management system for the entire industry chain such as milk source, production, and logistics can also become the key to brand building . Consumers can scan the code to obtain traceability data. This can help companies increase consumer trust, increase their reputation when expanding the market, and increase online interaction methods when entering new consumption scenarios such as milk bars and cold chain milk stations.

 

Vechain And Bright Food

Example of Vechain contribution in dairy products is Bright Food. Bright Food fresh dairy products monitored by Vechain blockchain implements a new business model of Internet of Things equipment + blockchain technology + third-party certification guarantees, that monitors the data of the entire product process, and provides consumers with trustworthy and high-quality fresh products.

 

Report: BTC Mining Difficulty Dropped Twice In One Month-All Bitcoin Mining Facilities In Sichuan Will Be Powered Off On June 20

Albert Brown
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0
Report: BTC Mining Difficulty Dropped Twice In One Month-All Bitcoin Mining Facilities In Sichuan Will Be Powered Off On June 20

According to BTC.com data Bitcoin mining difficulty has dropped -5.30 percent on 14-6-2021.


Bitcoin network faced two negative adjustments, -5.30 percent on June 14 and -15.97 percent on May 30.  

BTC mining difficulty which is a measure of how difficult it is for miners to mine a new block and add it to the blockchain dropped from 25.046 trillion to 19.932 trillion in one month.

Estimated next BTC mining difficulty, which will be calculated after 9 days hints further -11.39% drop.

Back in December 2018, Bitcoin had three consecutive negative difficulty adjustments in a row. At that time crypto market prices were falling rapidly and miners were busy switching off their equipment in large quantity. Bitcoin touched $3,125 on Dec. 15, 2018, which was an 85 percent correction from December 2017 All-Time High.

China Crack Down On BTC Miners Is For Real

Sharp falling BTC mining difficulty is because of China’s Sichuan province halting Bitcoin mining. Thanks to Chinese authorities, it has become a lot easier to find and add new blocks in Bitcoin blockchain.

26 mining companies were given strict order from China National Development and Reform Commission (NDRC) and Sichuan Energy Bureau to finish off their mining operation. BTC miners had to switch off their mining machines on Saturday.

AntPool and Huobi.pool lost over 30 percent of their hashrate, Foundry USA was the only mining pool was able to remain in the green.

In Q3 2019 Sichuan was responsible for 37 percent of global hashrate because of plentiful hydroelectricity. Leaving Sichuan is a big blow to BTC mining firms.

Before Sichuan, Inner Mongolia, Qinghai, Yunnan and Xinjiang also moved to clamp down on the mining industry.


 

Bitcoin current hashrate is 124.97 EH/s, which is down 48 percent from its Apr 15 peak of 198.514 EH/s.

According To 8BTCnews: 

“On June 20 all Bitcoin and other virtual currency mining facilities in Sichuan will be powered off.”

 

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