Aurelia Butler

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  • 138 Shares99 Views

    in Cryptocurrency

    All Meme Coins Will Eventually Go To Zero – Ben Armstrong

    According to Ben Armstrong, the crypto influencer, all meme coins will eventually go to zero, except maybe DOGE. In a recent tweet, Armstrong described meme coin trading as a game of “hot potato.” He advised his followers to take profits from their meme coin investments as often as possible.In an earlier tweet, Armstrong informed his Twitter followers that he rolled over some of his profits from GENSLR and POOH into DINO. According to him, this is his first time being involved in such high-risk, speculative cryptocurrency trading, otherwise referred to as “degen”, short for degenerate.Among the meme coins Armstrong traded, GENSLR rallied by over 200% between May 6 and May 7, 2023. In the 24 hours, the token’s price surged from $0.000000005306 to an all-time high (ATH) of $0.00000003588. As of the time of writing, GENSLR’s price has retraced and traded at $0.00000002976.POOH rallied from $0.00000001341 on May 5 to $0.0000001954 on May 6, 2023, marking a new ATH for the token. Despite retracing after reaching the new ATH, POOH has gained over 96% in the last 24 hours and traded at $0.0000001206 at the time of writing.The kind of quick pump experienced by GENSLR and POOH is characteristic of low-cap cryptocurrencies targeted by investors in degen trading. They are usually very volatile and tend to surge significantly over short periods. However, they are considered high-risk investments because of the tendency of their prices to drop sharply. Hence, Armstrong’s advice to followers is to take profits.Data from CoinmarketCap shows that DINO is not yet in a significant uptrend, and the token has gained only 3.1% in the last 24 hours. However, DINO’s current state qualifies it as an ideal candidate for a significant rally, with a market cap of $234,115 and a growing community.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post All Meme Coins Will Eventually Go To Zero – Ben Armstrong appeared first on Coin Edition.See original on CoinEdition More

  • 100 Shares99 Views

    in Cryptocurrency

    ETH Will Experience Short-Term Sell Pressure, Predicts Trader

    The crypto trader and analyst Ali predicted in a tweet this morning that Ethereum (ETH) may experience some sell pressure soon. His post follows the recent spike in the number of ETH deposits made on centralized exchanges, as recently indicated by on-chain data.At press time, ETH’s price was trading at $1,902.60 after a 3.09% 24-hour loss according to CoinMarketCap. This negative daily performance had also flipped the altcoin leader’s weekly performance into the red, which stood at 0.03% as a result. In addition to weakening against the U.S. Dollar, ETH was also down against Bitcoin (BTC) by 1.53%.Daily chart for ETH/USDT (Source: TradingView)The crypto’s price has dropped below the 9-day and 20-day EMA lines in today’s trading session. The wick present above the current daily candle suggests that the sell pressure Ali had predicted has already entered ETH’s charts, as bears attempt to push ETH’s price lower.Before ETH’s price reaches the next key support at $1,800, it will receive some support from the 50-day EMA which was trading at around $1,850 at press time. Should the altcoin’s price reach this level it will either rebound or continue to drop. The recent spike in active ETH deposits on centralized exchanges supports a bearish thesis, however.A break below the 50-day EMA line will leave only the aforementioned support at $1,800 before a drop to $1,670, should the sell pressure continue. However, bulls may prevent the drop to $1,670 and enter into long positions for ETH, given that it has been trading in a consolidation channel between $1,800 and $2,015 for the last 2 weeks.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post ETH Will Experience Short-Term Sell Pressure, Predicts Trader appeared first on Coin Edition.See original on CoinEdition More

  • 138 Shares189 Views

    in Economy

    Japanese companies seeking US deals fear more scrutiny of China links

    Japanese companies’ ambitions to pursue more deals in the US could fall foul of intensified scrutiny of their business activities in China, trade lawyers have warned.The concerns, which lawyers said were being debated at the top of some of Japan’s biggest companies, centre on the Committee on Foreign Investment in the US (Cfius) — the inter-agency body that screens deals by non-US companies and that has stepped up its reviews of buyers’ links with China.The warnings come as Japanese companies explore more acquisitions in the US, following the ending of Covid-19 restrictions that made overseas deals difficult, and with Chinese buyers facing even greater hurdles to secure US deals.Although Cfius scrutiny affects prospective buyers from anywhere outside the US, lawyers said Japanese companies were particularly vulnerable because of their decades’ worth of investment, supply chains, joint ventures and other business connections in China. Aimen Mir, a former chair of the Cfius review committee who is now a competition partner at Freshfields Bruckhaus Deringer, said that “as the geopolitical situation evolves” companies should be prepared for greater scrutiny.“Companies will find it increasingly difficult to navigate between the US and China and neither government seems likely to make this conundrum any easier for investors in the near-term,” said Mir.He added that while Cfius was not looking to dissuade companies from doing business in China generally, the depth of a group’s ties to China could create complexities in a review.Cfius might cross-examine a Japanese company on how it would react if faced with a commercial decision over which the US and Chinese governments were directly in conflict, he suggested.“Companies will have to think about what will happen down the road,” added Mir.Ken Lebrun, a Tokyo-based mergers and acquisitions lawyer at Davis Polk, said: “Increasingly, Japanese companies facing a Cfius review . . . do need to think very carefully about their interconnectivity with China. They have to be able to answer Cfius’s questions about whether Chinese employees or business partners have access to their technology or IT, whether their cyber security is a weak link, and so on.”US president Joe Biden signed an executive order in September last year that stressed the need for Cfius reviews to remain responsive to an evolving national security landscape. While the order may not have represented a significant change in fundamental position, legal experts said it sent a message that the Cfius review process was going to become more invasive. Ivan Schlager, a partner at Kirkland & Ellis with a practice focused on Cfius cases, said that while Japanese deals in the US did not face a greater likelihood of being blocked, “the review will be more rigorous, intense and thorough”.He said one potential Cfius concern would be around companies with a heavy dependence on China as a customer.“Do the Chinese have leverage over you? Can they use that leverage for nefarious purposes?” said Schlager.George Grammas, a partner at Squire Patton Boggs who advises clients on export controls and Cfius clearance, said Cfius considered ties to China broadly via “subsidiaries, joint ventures and co-operative arrangements”, focusing on potential weaknesses at safeguarding technology.That raises concern for many Japanese companies that have joint ventures in China where they are partnered with local groups and share a certain level of technology.Cfius declined to comment. More

  • 113 Shares109 Views

    in Cryptocurrency

    Kazakhstan collected $7M in crypto mining taxes in 2022

    Preliminary data from the government for 2023 shows that mining fees collected by April 27 totaled 240 million tenge – worth over $541,000 at the time of writing. The figures are much lower than the 652 million tenge (~$1.5 million) in fees paid in the first quarter of 2022. Continue Reading on Coin Telegraph More

  • 225 Shares159 Views

    in Cryptocurrency

    Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6

    Amid an ongoing debate over miner costs and susceptibility to Bitcoin price dips, new figures suggest that miners are firmly in the black in the long term. Calculations from on-chain analytics firm Glassnode suggest that since 2010, fees and block reward subsidies have netted miners billions. Miners total all-time income is almost 40% higher than their estimated costs, coming in at $50.2 billion versus $36.6 billion, respectively.Continue Reading on Coin Telegraph More

  • 175 Shares199 Views

    in Economy

    Senate Republicans oppose vote just to raise US debt ceiling, push for other priorities

    Citing an economy “in free fall,” the Republicans, led by Senator Mike Lee and including Minority Leader Mitch McConnell, said “substantive spending and budget reforms” need to be “a starting point” for negotiations.The offices of McConnell, Schumer and other lawmakers did not immediately respond to requests for comment.Several moderates including Senators Mitt Romney and Lisa Murkowski did not sign the letter. Senator Susan Collins, another moderate Republican and the vice chair of the Senate Appropriations Committee, also did not sign.U.S. President Joe Biden, a Democrat, in recent days has criticized Republicans for threatening not to raise the debt limit unless Democrats agree to steep budget cuts. Biden will meet with four top congressional leaders on Tuesday to discuss spending priorities, according to the White House.U.S. Treasury Secretary Janet Yellen said in a recent letter to Congress that the agency may be unable to meet all of its debt obligations as soon as June 1 if the debt ceiling is not raised. The political standoff has raised concerns over a default that could reverberate across global financial markets.Schumer said this week that the Senate might consider a bill that only raises the debt ceiling without addressing other Republican priorities. With only a 51-49 majority in the Senate, Schumer would need the support of at least nine Republicans to clear a 60-vote threshold to advance such legislation.The latest Senate Republican letter shows the party could block a so-called “clean” debt ceiling bill.The House in late April passed a bill to raise the government’s $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade.However, that measure is not expected to pass in the Senate and would be vetoed by Biden if it did. More