Cryptocurrency

In the past 12 months, the price of gold has surged by an impressive 12%. This rally has been partially fueled by the Federal Reserve’s efforts to combat inflation by maintaining higher interest rates, a move that benefits scarce assets like gold. While gold’s performance is commendable, it’s essential to put it into perspective. Continue Reading on Coin Telegraph More

Bloomberg ETF analyst James Seyffart disclosed the filing on X (formerly Twitter), even though the application hadn’t been uploaded to the SEC’s public database at the time of writing. Continue Reading on Coin Telegraph More

Nestled securely and transparently within the realms of blockchain technology, digital assets are scripting a new global financial tale, one that surpasses geographical borders and paves the way for a redefined understanding of purchasing power parity (PPP).Before delving further, it is crucial to comprehend the recent fluctuations in traditional economic measurements. A pertinent example is the notable decrease in the US dollar’s purchasing power, accentuating the necessity to adapt and evolve amidst changing economic landscapes. Through the lens of the Consumer Price Index (CPI) — a barometer gauging the alterations in the price of goods and services over time — it was observed that in 2022, the US dollar could buy merely 92.6% of what it could in 2021. This essentially underscores a 7.4% dip within a year, a result of inflationary pressures.US purchasing power data 2021 and 2022 | Source: U.S. Bureau of Labor StatisticsIn simple words, the erosion of the dollar’s value not only illustrates a numerical downturn but echoes a shift in financial perspectives and methodologies embraced by both individuals and nations globally. At this pivotal crossroads, the cryptocurrency domain rises as a harbinger of potential fairness, casting a ray of hope in a society grappling with entrenched disparities.Over the years, assets like Bitcoin (BTC) have ascended exponentially, presenting a formidable counter to the inflationary trends beleaguering fiat currencies. Since its genesis, the value of Bitcoin has skyrocketed by an astounding 3.4 billion percent, thereby proposing itself as a resilient alternative to conventional financial assets.BTC ROI over the years | Source: Case BitcoinTaking center stage in this narrative is El Salvador, a country that boldly embraced Bitcoin as legal tender in September 2021, stirring discussions and hopeful anticipations across the globe. Early indications suggest a surge in economic welfare for the nation, thereby hinting at a potential positive reshaping of the country’s PPP.EL Salvador GDP per capita PPP adjusted | Source: Trading EconomicsFor those unacquainted with the term, PPP is an economic theory that examines the relative values of different countries’ currencies through a “basket of goods” methodology. This approach aspires to gauge the intrinsic value of a currency, offering a more grounded depiction of a nation’s economic vitality, as opposed to just its market value.Moreover, Asian nations are not far behind, keenly exploring avenues to integrate cryptocurrencies into their financial ecosystems. The broader implication of these developments beckons a reimagined global marketplace, where individuals’ economic prosperity is not shackled by the depreciating value of their national currencies or influenced unduly by central bank policies. Picture an environment where the decentralized nature of cryptocurrencies fosters a more equitable wealth distribution, inaugurating a new epoch of financial stability and inclusiveness.But the question persists — how can cryptocurrencies truly reinvent the foundations of PPP and pave a streamlined pathway for the global populace? Let’s venture further to uncover the transformative potential lying within the nexus of cryptocurrency and purchasing power parity.To comprehend the gravity of this shift, let’s dissect the potential role of cryptocurrencies in bridging the gaps in global PPP:Tangible shifts in global financial dynamicsAs we embrace the digital currency revolution, it’s critical to understand that cryptocurrencies could potentially play a transformative role in recalibrating global financial dynamics. In traditional PPP calculations, goods and services are often analyzed within the confines of national boundaries, not accounting for the disparities in access and availability globally.Cryptocurrencies, on the other hand, could foster a global market where prices converge more organically, without being overly influenced by localized economic policies or fluctuations. For instance, in nations with higher inflation rates, residents might prefer holding cryptocurrencies to preserve their wealth, indirectly steering towards a more standardized pricing level globally.Moreover, the increased adoption of cryptocurrencies in emerging markets, as substantiated by the over 30% usage rates in countries like Nigeria, Turkey, and the UAE, could act as a catalyst in harmonizing economic disparities. By providing a unified medium of exchange, they could potentially dampen the effect of volatile exchange rates, making goods and services more comparably priced across borders, thus making PPP more representative of real-world economic conditions.Cryptocurrency supply factorThe supply of cryptocurrencies can be a significant factor in reshaping the global economic landscape. Fiat currencies, often subject to inflationary pressures due to factors like increased government borrowing or monetary policies, can see fluctuating values which in turn affects the real purchasing power of individuals. Cryptocurrencies, particularly Bitcoin, operate on principles that resist inflation — a capped supply, decentralized control, and transparent algorithms. By potentially serving as a hedge against erratic inflation, cryptocurrencies could foster an environment where individuals in countries with high inflation can preserve their purchasing power, thereby narrowing the discrepancies in PPP.Furthermore, the transparent and decentralized nature of cryptocurrencies can potentially result in more predictable economic policies, promoting stability and trust in the financial ecosystem.Cross-border transactions and remittancesCryptocurrencies stand as a transformative force in facilitating cross-border transactions, a critical element in influencing PPP. Traditional channels of international money transfers are often associated with high transaction fees and unfavorable exchange rates, which can significantly diminish the purchasing power of individuals, especially those in developing countries.Cryptocurrencies can mitigate these challenges by providing a more streamlined and cost-effective solution for cross-border transactions. By reducing transaction fees and processing times, they can enhance the purchasing power of individuals globally. This could potentially result in a more balanced distribution of wealth, fostering a global economy where remittances contribute positively to the economic wellbeing of nations, and consequently, influencing a more equitable PPP globally.Decentralization: a catalyst for economic equalityDecentralization, a fundamental principle underlying cryptocurrencies, holds the potential to be a potent force in reshaping global PPP. By circumventing the need for central banks and financial intermediaries, cryptocurrencies foster an environment that promotes economic equality.In this new financial landscape, individuals will have greater autonomy over their assets, which could potentially lead to a more equitable distribution of wealth globally. This decentralization could curb economic monopolies and encourage competition, fostering a global market where opportunities and financial access are not confined to geographical locations but are widespread and inclusive.Moreover, by removing barriers to entry in the financial markets, cryptocurrencies can potentially foster a more inclusive financial ecosystem where individuals have better access to investment opportunities, thereby promoting economic growth and narrowing global PPP disparities. This democratization of financial access could be a significant step towards achieving a more balanced global economic landscape, where PPP is more reflective of the actual economic conditions experienced by individuals across different nations.In our endeavor to envision a financially cohesive world, it is imperative to scrutinize the profound impact cryptocurrencies are beginning to imprint on economies grappling with hyperinflation, a phenomenon that often distorts conventional approaches to calculating purchasing power parity. When examining the case of countries like Zimbabwe and Venezuela, which have witnessed the plummeting value of their fiat currencies, the role of cryptocurrencies cannot be understated.Unlike traditional fiat currencies, cryptocurrencies offer a decentralized, stable, and universally accepted store of value. This quality could potentially provide a more robust buffer against the volatility experienced in hyper-inflated economies. In this regard, cryptocurrencies could emerge as a sanctuary of stability, recalibrating PPP calculations to mirror the true economic realities of these regions. Through this transformation, nations battling economic instability might find a pathway to regaining financial equilibrium and fostering a healthier economic environment, thus presenting a more accurate reflection of a nation’s economic pulse and offering a more reliable gauge for PPP.In addition to offering a bulwark against hyperinflation, the world of cryptocurrencies brings forth innovative technologies like smart contracts that are poised to revolutionize asset management and the real estate sector — both of which significantly influence a nation’s PPP dynamics. Smart contracts, characterized by their transparency, security, and efficiency, promise to disrupt the traditional paradigms governing real estate transactions. By facilitating a more fluid and accessible market, this technological advancement could reshape the “basket of goods” that underpins PPP calculations. As we stand on the threshold of an economic revolution, two formidable challenges command our attention: the inherent volatility of cryptocurrencies and the burgeoning environmental concerns associated with their proliferation, particularly regarding Bitcoin mining.Let’s delve into the volatility that currently characterizes the cryptocurrency landscape, a fluctuation that poses as both a blessing and a curse. While these dramatic price swings present lucrative opportunities for traders and investors, they remain a significant stumbling block in the path of cryptocurrencies becoming mainstream, and a reliable pillar in calculating PPP. The pressing question then beckons: how can we integrate cryptocurrencies into the global economic structure without the threat of drastic value fluctuations? Currently, the solution seems ambiguous as market sentiments largely govern the cryptocurrency values. The pathway to tempering this volatility calls for concerted efforts from policymakers, financial analysts, and economists to innovate and strategize, crafting a future where cryptocurrencies harmonize with the principles of stability and predictability, fostering a balanced global economy.In parallell, we confront the environmental implications that accompany the stride of cryptocurrencies. The escalating concerns surrounding the carbon footprint of cryptocurrencies, notably Bitcoin mining, cannot be relegated to the sidelines in a world marching fervently towards sustainable practices. As the narrative tilts towards environmental sustainability, the industry finds itself at a juncture where aligning with global sustainability goals becomes not only a necessity but a responsibility. It beckons an exploration into avenues where cryptocurrencies can evolve without exacerbating environmental concerns, fostering a symbiotic relationship with the global movement towards a green economy. In conclusion, we find ourselves at a pivotal moment in history, where the road ahead holds both challenges and opportunities in equal measure. It is a call to action, inviting thought leaders and innovators to steer us into an epoch of economic revolution, leaving the world with a sense of anticipation and a hopeful gaze towards a promising, harmonious future.This article was originally published on Crypto.news More

Cowen, who is generally bullish on Bitcoin, had predicted a significant drop in the cryptocurrency’s value. However, the lack of volatility and liquidity in the market seems to have worked in Bitcoin’s favor. There simply wasn’t enough downward pressure to drive the price to the $23,000 level as Cowen had anticipated.Source: According to real-time data, is currently trading at $27,123.42 against the U.S. dollar. This price level not only contradicts Cowen’s prediction but also suggests a more stable outlook for the digital asset.The market’s lack of volatility and liquidity, often seen as negative factors, have ironically acted as stabilizing forces in this instance. These conditions have prevented any drastic downward movements, allowing Bitcoin to maintain its value.Cowen’s incorrect prediction serves as a reminder that even seasoned analysts can get it wrong, especially in a market as unpredictable as cryptocurrency. While technical analysis provides valuable insights, unforeseen market conditions can always tip the scales.The change in Cowen’s stance could influence sentiment, potentially leading to more bullish behavior in the market. As Bitcoin continues to defy bearish predictions, it solidifies its reputation as “digital gold,” a resilient asset that can hold its value even in uncertain times.As we move into October, it will be interesting to see if Bitcoin can maintain its current stability or if it will experience the volatility that so many have come to expect from the crypto market.This article was originally published on U.Today More

A significant portion of the 7,749 ETH, worth roughly $13 million, was directed toward the THORChain router and Railgun contract. Furthermore, the exploiter engaged in a swap involving 2,500 ETH, worth around $4.19 million, converting it into 153.4 tBTC at an average price of $27,281 per token.Continue Reading on Coin Telegraph More

In a court filing on Sept. 29, lawyer Mark Cohen, who is representing Bankman-Fried, contends that the jury questions presented by the United States government contain prejudice that could result in an unfair trial for Bankman-Fried.Continue Reading on Coin Telegraph More

Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print.Continue Reading on Coin Telegraph More

One of the most significant technical indicators pointing toward this change is the breakthrough of a descending triangle in the upward direction. This pattern is generally considered a bullish sign, suggesting that the asset could be entering a new phase of upward momentum. Since this breakthrough, Cardano has been accelerating, further reinforcing the idea that a bullish trend could be on the horizon.Source: The possibility of a longer-term trend reversal is also being speculated upon. If continues to sustain its current momentum, it could very well signal a fundamental change in its market behavior, moving from a bearish or sideways trend to a bullish one. However, it is crucial to note that while technical indicators are promising, they are not foolproof, and other market factors could influence Cardano’s trajectory.However, the journey ahead is not without challenges. Shiba Inu is approaching the 21 exponential moving average (EMA) resistance level. This is a crucial point for the asset, as the 21 EMA often acts as a barrier that could potentially push the price lower. If manages to break through this resistance, it could pave the way for further gains. On the flip side, failing to do so could result in a price correction.While the uptrend appears promising, it is essential to note the lack of liquidity and trading volume, which hints at a hollow rally. A rally without substantial volume is often considered less sustainable and could be more susceptible to market manipulation or sudden price drops. Therefore, investors should exercise caution and keep an eye on trading volumes to gauge the rally’s strength.Despite these challenges, Shiba Inu’s performance has been commendable, especially when considering the volatility often associated with meme coins. Its ability to hold onto gains and follow an upward trendline gives investors a glimmer of hope, but it is crucial to approach this asset with a balanced perspective.The asset has recently moved past the 50 exponential moving average (EMA), a commonly used technical indicator that helps traders identify market trends. Crossing above the 50 EMA is generally considered a bullish sign, indicating that the asset might continue its upward trajectory.However, it is essential to consider the volume and volatility accompanying this breakthrough. The current conditions suggest that Ethereum’s recent gains might not be as secure as they appear. The relatively low trading volume and market volatility indicate that we could see a reversal quite soon.Why is this important? The 50 EMA serves as a critical resistance level that assets need to break through to maintain a bullish trend. If Ethereum fails to secure its position above this level, it could signal a trend reversal, leading to potential losses for traders who are long on the asset.The current price of Ethereum stands at $1,671.96, which is a significant leap from its previous levels. However, traders should exercise caution. While the asset has shown strong bullish tendencies, the lack of substantial trading volume and market volatility could make this rally short-lived.This article was originally published on U.Today More