Aurelia Butler

More stories

  • 113 Shares169 Views

    in Cryptocurrency

    Helium (HNT): Project Review, Recent Developments, Future Events, Community

    Helium (HNT) is a decentralized blockchain that powers The People’s Network, currently described as the fastest-growing wireless network in the world. Helium is a 5G Internet-of-Things-focused project. Helium’s technology allows anyone to build huge, cost-efficient wireless infrastructure. Users can leverage Helium’s nodes called Hotspots to connect low-powered wireless devices allowing them to communicate with each other and send data across its network. One of the biggest milestones for Helium was raising $200 million from Tiger Global and Andreessen Horowitz in March 2022. Since then, how has the Helium project performed?Recent DevelopmentsOn Thursday, June 8, Helium Foundation announced the launch of the Helium Wallet. The wallet is available in Apple (NASDAQ:AAPL) and Android play stores. The app will help users manage tokens and identities on the Helium network. By importing their unique 12-word seed phrase into the new Helium Wallet App, users can use the App to control all their hotspots. The option is found in Maker Apps or Dashboards. Just after launching its wallet, Helium Foundation announced the launch of MosoLabs. The new firm will focus on providing users with exceptional products that empower people to build, use, and grow the Helium 5G network.MosoLabs is a company that designs and distributes innovative hardware and software for open, decentralized wireless networks.The Helium Network has also crossed 850,000 Hotspots, making it the fastest-growing decentralized wireless network worldwide. In May, Binary Beer became the latest addition to the Helium Network. Binary Beer now leverages Helium’s technology to track and monitor inventory accurately, enabling digital transformation across the draught beer industry. Future EventsHelium will be participating in Helium House ATX on June 11, where it will “showcase and celebrate digital currencies” at the Riley Building in Austin, Texas. Following the successful voting on the Helium Improvement Proposal 51 (HIP-51), Helium now looks to make Helium and its token HNT become a “Network of Networks.”Helium developers will now work to scale the Helium Network to support new users, devices and different types of networks, including cellular, VPN, WiFi and LPWAN.Price UpdatesThe significant developments have helped Helium (HNT) maintain a sustained rally. While other cryptos have consolidated in June, HNT has been rallying and is the third biggest gainer.The 7D price chart of Helium (HNT). Source: CoinMarketCapIn the last 14 days, HNT has jumped by more than 80%, trading as high as $12.3 from a low of $7.2. Over the last 7 days, Helium has gained more than 37%, making it the biggest gainer among the top 100 cryptos ranked by market cap. The price boost has helped Helium scale several positions on this ranking. Helium is now ranked as the 41st largest crypto by market cap. At this writing, HNT trades at $11.46 and has a market cap of $1.388 billion.On The FlipsideCommunityDescribing itself as the People’s network, Helium prides itself on being a community-centric project. Helium Hotspots allow community members to earn by mining free HNT with only their mobile phones. This feature of Helium has endeared users to the project.One Twitter (NYSE:TWTR) user, @NetflixCrypto, writes about the Helium mining;Another user, @getmntd_, writes about Helium;Johan Zijlstra has this to say about the Helium project;Why You Should CareHelium has proven to be a very ambitious project since its launch. Raising $200 million from the likes of Tiger Global and Andreessen Horowitz to build the decentralized wireless future speaks volumes of Helium’s potential to make future progress.Continue reading on DailyCoin More

  • 163 Shares189 Views

    in Cryptocurrency

    APE Sell-off Continues as the Price of Apecoin Drops in Past 24 Hours

    The once popular ApeCoin (APE) has been in a sell-off since the crypto bear market started, according to CoinMarketCap.After reaching its peak of $27.50 on April 25, 2022, APE posted six red weekly candles and now looks to set another weekly red candle. During this time, the price of APE has dropped from its peak to its current level of around $5.4553, which is an 83.4% drop.Price of APE continues to fall (Source: Tradingview)Looking at the daily chart for APE/USDT, the price downfall continues for APE. Furthermore, the 9 EMA is positioned below the 20 EMA, which is a bearish flag. Another bearish flag is the RSI in oversold territory; the RSI line is below the RSI SMA line. However, the RSI line is sloped positively at the moment.Possible reasons for the ongoing APE sell-off could be attributed to the fact that the NFT space has lost its high level of associated hype. Seeing that APE is a coin representing the APE ecosystem like Bored Ape Yacht Club and Mutant Apes, which offer little amounts of utility compared to other products in the crypto space, investors may be moving on to crypto coins with more utility.In addition, investors may be adjusting their portfolio allocation in this bear market. Given that APE has been on the decline for the last number of weeks, investors may be opting for coins that are more stable in price while this bear market plays out.If the price of APE is unable to break past the 9 EMA on the daily chart, then we could see the price of APE drop even more over the coming days.Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.Continue reading on CoinQuora More

  • 150 Shares99 Views

    in Cryptocurrency

    SHIB Is Facing Threats That Could Lead to 20% Drop in Price

    Shiba Inu (SHIB) is facing a variety of threats at the moment. One of these threats is the fact that the SHIB burn rate has dropped by 75% overnight. This comes after the SHIB burn was doing pretty well at the beginning of the week.About 34.72 SHIB tokens were burned over the last 24 hours. At the moment, around 41% of SHIB’s circulating supply has already been burned. The fact that SHIB’s burn rate is decreasing is a problem as many believe it is a key driver of bullish sentiment in the ShibArmy.Another threat for SHIB is the fact that its exchange reserves have plummeted. Investors have amassed around 1.02 trillion SHIB, which is worth about $10.6 million. These tokens have all been pulled out of SHIB’s circulating supply.If SHIB were to see a trend reversal, there is a possibility that over $1 trillion SHIB coins will hit exchanges. This will then increase the selling pressure which will then lead to a drop in price.SHIB’s support at the $0.0000095 level could play a crucial role in the price trend. Unfortunately, many analysts believe that SHIB could break this support level and then decline by about 20%.At the moment, SHIB is worth $0.00001014 after a 3.57% drop in price over the last 24 hours. SHIB also saw a 6.64% price decrease over the last seven days, according to CoinMarketCap.SHIB’s market cap currently stands at $5,564,712,360. The CDoge-killer also saw a 24-trading volume of $232.21 million, which is a 19.12% increase over the last day.Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.Continue reading on CoinQuora More

  • 100 Shares189 Views

    in Cryptocurrency

    Anchorage forms custody network with five crypto exchanges

    In an announcement, the custodian mentioned that it has partnered with Binance.US, CoinList, Blockchain.com, Strix Leviathan and Wintermute. According to Anchorage, this will provide institutions with direct access to a wide range of trading pairs. Continue Reading on Coin Telegraph More

  • 113 Shares199 Views

    in Economy

    Rate rise prospects raise concerns for debt-laden eurozone countries

    Investors are starting to worry again about high levels of government debt in the eurozone, as the prospect of rising interest rates revives concerns that have largely lain dormant in recent years.Borrowings by debt-laden countries including Italy, Greece and Spain have increased in the decade since the region’s sovereign debt crisis — in part because of the coronavirus pandemic’s drain on government finances. Markets were more willing to fund those large debt piles while borrowing costs were ultra-low and the European Central Bank was continuing with its massive bond-buying programme. But the ECB’s plans to withdraw such stimuli — with an end to asset purchases and a quarter-point rate rise planned for July — mean the bonds of these southern European nations are once again under pressure.Borrowing costs for Italy and Greece have climbed sharply, with Italy’s 10-year yield hitting its highest level since 2014 on Friday — although they remain far below the heights scaled in 2012. Still, the worry for many investors is that a sustained rise may reignite concerns over how manageable Rome’s or Athens’ debt loads are.“I think the situation’s worrying but not critical,” said Antoine Bouvet, senior rates strategist at ING. “Sometimes the markets can talk themselves into a frenzy and lose confidence,” he said, adding that it becomes a “self- fulfilling prophecy”. He said that if the gap between the Italian and benchmark German yields hits 2.5 per cent, then “some alarm bells will start ringing at the ECB”. The spread rose to about 2.25 per cent on Friday.“So far [the widening] has been relatively orderly but it might lull the ECB into a false sense of security,” Bouvet added.In a policy statement this week, the ECB said it planned to raise interest rates by 0.25 percentage points in July and that “if the medium-term inflation outlook persists or deteriorates, a larger increment will be appropriate at the September meeting”.The bank last raised rates in 2011, and its deposit rate currently stands at minus 0.5 per cent.On fears over fragmentation — the notion that tightening monetary conditions might impact eurozone countries differently — ECB president Christine Lagarde said on Thursday that if it is necessary, “we will deploy either existing adjusted instruments or new instruments that will be made available”.“Obviously we need to make sure there is no fragmentation that would prevent the adequate monetary policy transmission,” she added.Additional reporting by Tommy Stubbington More

  • 113 Shares99 Views

    in Economy

    Yellen draws flak in political battle over high inflation

    Under attack from Republican lawmakers at a congressional hearing this week, Janet Yellen offered a spirited defence of Joe Biden’s efforts to bring down high inflation, the biggest threat to his presidency.An 8 per cent inflation rate in the US was unacceptable and Biden’s “number one objective” was to get it down, the Treasury secretary told the House Ways and Means committee on Wednesday. “We are by far not the only economy to face inflationary pressures like this,” she added.The labour market economist and former Fed chair has become the administration’s political shield on inflation. With data on Friday showing the US consumer price index rose by 8.6 per cent in May compared with 2021, Yellen has deflected criticism that the administration’s policies, particularly its $1.9tn stimulus bill enacted last year, have overheated the economy.Through her many years in Washington, including as a top economic adviser to Bill Clinton, Yellen has tended to remain above the political fray. This has allowed her to maintain credibility and significant bipartisan support on Capitol Hill.Supporters say that makes her the ideal voice for the administration at a time of crisis. It mirrors the standing of some of her predecessors in the job, including Henry Paulson under George W Bush, who were known for their expertise rather than their political or communications skills. It marks a departure from the approach taken by Steven Mnuchin, Donald Trump’s Treasury secretary, who was more overtly political.But it has also got Yellen into trouble, muddying the White House’s message at a moment when voters widely disapprove of Biden’s handling of the economy and midterm elections are just a few months away. Last week, Yellen conceded that she had been “wrong” about the path of inflation last year. At the time the risk of a big rise had seemed minor and the supply chain and Ukraine war shocks that followed could not be foreseen. It was a standard admission of a forecasting mistake for an economist, but it was immediately seized on by Republicans as evidence of culpability. Yellen has also placed less emphasis on corporate greed or price-gouging as the cause of high prices than other administration officials, and suggested that lowering tariffs on Chinese imports imposed by Donald Trump might help to slow inflation, which is the subject of an intense internal debate. “What she’s saying is what she believes. It may be inconvenient, but I think she’s speaking the truth,” says David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy in Washington. “She makes the argument forcefully for the thing she agrees with and she refuses to read White House talking points that she doesn’t agree with” he added.Ben Koltun of Beacon Policy Advisers adds that Yellen is “not a political animal”.

    “She was nominated by Biden as someone who was immensely competent — I don’t know if I can say a transitional figure — but someone who people would trust. She was not someone who would showcase political chops or great messaging.”So far Democrats from both the progressive and moderate wings of the party have backed Yellen. Many Republicans still say they respect her personally, but have become increasingly scathing about administration policies, and some have attacked her directly too. “Not only has she stood by as President Biden pursued disastrous economic policies, she has even encouraged and attempted to justify the policies that have led our nation to the precipice of recession,” said Bill Hagerty, a Republican senator from Tennessee and a member of the banking committee in the upper chamber of Congress. “I’ve been sorely disappointed that an economist like Janet Yellen would not have been able to dissuade such reckless policies whose effects are hurting Americans’ livelihoods,” he added. In one tense exchange, Tom Rice, the Republican representative from South Carolina, asked Yellen if the White House was “intentionally” driving up energy prices. “Of course it’s not intentional”, Yellen shot back, citing the president’s authorisation for the release of 1mn barrels a day from the country’s oil stockpile. Rice retorted that it was just a “drop in the bucket” and “you know it’s a sham”.Sarah Binder, a professor of political science at George Washington University, said Yellen was caught up in a political and economic maelstrom that was hard to control.“No matter what Yellen said or didn’t say . . . Republicans would be following this strategy of blaming the Biden administration and Democratic policies for inflation. That is their campaign,” she said. “The broader economic context, which is creating the political problems, is generationally high inflation. That’s hard for an administration, who will be held accountable for it, even if the blame should also rest with the Fed,” she said.In a statement to the Financial Times, Brian Deese, the director of the National Economic Council, said the White House was content with Yellen’s performance.

    “Secretary Yellen has been a driving force behind the president’s economic strategy and a critical voice in the administration’s work to address the nation’s economic challenges.” A White House official dismissed any notion of a rift between the White House and Treasury, saying they were “fully aligned”. “Whether in the Situation Room or with our global partners and allies, her gravitas, ability to understand the politics and trade-offs of any issue, and experience maintaining financial stability during unstable times are highly valued by the president and our entire team,” the official said.Speaking at a New York Times Dealbook conference on Thursday, Yellen said there was “nothing to suggest” the US might face a recession. But she warned that it was “unlikely that [petrol] prices are going to fall anytime soon”. Yellen also insisted she didn’t regret the size or the scope of the stimulus bill — known as the American Rescue Plan. “I wouldn’t do it differently,” she said. There have been persistent rumours almost since the start of the Biden administration that Yellen might soon leave the Treasury department, possibly after the midterm elections in November. But there has been no suggestion of that coming from her or the White House. And Ian Katz, of Capital Alpha Partners, says the political influence of any Treasury secretary can often be overstated. “If inflation is still bad in November, voters are going to punish the Democrats, and they won’t be thinking of Yellen when they do it.” More

  • 138 Shares189 Views

    in Cryptocurrency

    Dogecoin Faces the Reality of an Even Further Decline in Price

    The Dogecoin (DOGE) price is still in chaos after the bulls have lost support of the $0.08 level. The DOGE price is also set to drop even further after bears breached a triangular structure that positioned itself on DOGE throughout May.
    DOGE/USDT 1-day chart (Source: FXStreet)Now that this structure has been breached, bears will more than likely start injecting some capital into their short positions to make a profit from the impending decline in price. Another damning aspect to consider is that the bearish engulfing candle that breached the structure is moving in a free-fall fashion.At the moment, DOGE is worth $0.07625. It is still possible for a short pause to occur before reaching the next target at $0.072. Unfortunately, it seems like the bears are very unlikely to drop their hold on the meme coin until after the liquidity under the May 12th lows at $0.068 is taken out.Another bearish factor to acknowledge is that DOGE was rejected on the Relative Strength Index 40 level.The only way for DOGE to invalidate its current bearish downtrend is to break above $0.085. If this were to happen, it could lead to a relief rally into the $0.12 region, which could lead to a 60% increase from DOGE’s current price.As mentioned above, DOGE is currently worth $0.07625 after a 3.62% drop in price over the last 24 hours, according to CoinMarketCap. Over the last week, DOGE also saw a 6.59% price decrease.Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrenciesContinue reading on CoinQuora More