According to a statement released by the Reserve Bank of Zimbabwe on May 4, the gold-backed digital currency tokens will be sold in U.S. dollars and local currency. However, the local currency price will have a 20% margin above the willing-buyer willing-seller interbank mid-rate. Interested investors can participate in the offer from May 8, which will close two days later.Continue Reading on Coin Telegraph More
The crypto trader and analyst Dan Gambardello uploaded his latest analysis for Cardano (ADA) to his YouTube channel today. In the video, he shared his belief that ADA is fundamentally strong given the recent launch of the Hydra scaling solution.This analysis comes after Cardano recently launched its first mainnet version of Hydra. It is forecasted that the scaling solution will increase the network’s Transaction Per Second (TPS) rate to 1,000,000 transactions per second. As a result, members of the crypto community are calling Hydra the most significant scaling solution for the Cardano ecosystem.Gambardello then stated that the recent Hydra launch has made ADA technically strong as well. He added that he believes ADA is in a better position than Ethereum (ETH) was in leading up to the 2017 bull run.The trader also predicted that ADA’s market capitalization will reach $500 billion. He even suggested that this may happen in the next crypto bull run. Gamberdello did admit, however, that his predictions are more long-term.
Daily chart for ADA/USDT (Source: TradingView)At press time, CoinMarketCap showed that ADA’s price was trading at $0.387 after the Ethereum-killer printed a 0.42% loss over the previous 24 hours. This negative daily performance had pushed ADA’s weekly price performance further into the red at -4.06%.Meanwhile, ETH was trading at $1,945.90 as it was able to outperform its competitors and post a 2.54% 24-hour gain. This positive price performance had also pushed ETH’s weekly performance into the green at +2.29%. With a market cap of around $13 billion, ADA still has a long way to go before reaching ETH’s market cap of more than $234 billion.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 Crypto Trader Predicts That ADA’s Market Cap Will Reach $500B appeared first on Coin Edition.See original on CoinEdition More
Mainstream banks’ stocks tumbled following the speech by the Federal Reserve Chair, Jarome Powell, despite the Chair’s bullish approach and assurances over the markets. Michael Van de Poppe, the founder of EightGlobal, thinks such scenarios could influence a banking crisis that would initiate the next Bitcoin bull market.In a video analysis uploaded on YouTube, Poppe noted that Powell, in his recent speech, maintained that the banking system is sound and resilient. As a result of Powell’s speech, several banks’ stocks dropped in value, suggesting a disagreement with the Fed Chair’s position.Poppe observed that some regional banks’ stocks collapsed hours after Powell’s speech. PacWest Bancorp lost 57.79% of its value to top the losing chart, while Western Alliance (NYSE:WAL) followed with a loss of 28.61%. Other banks that topped the losers’ list include Comerica (NYSE:CMA) losing 10.06%, Zion’s Bancorp losing 9.71%, and KeyCorp (NYSE:KEY) losing 6.93%.Using the Bitcoin 30-minute chart, Poppe explained that while banks’ stocks fell in the aftermath of Powell’s speech, Bitcoin price rallied. He also noted that just like Bitcoin, Gold rallied after the Federal Reserve Chair concluded his speech and Bitcoin moving in tandem with Gold is a good development for the crypto market.Poppe’s analysis showed that bank stocks and the Bitcoin markets do not move in the same direction. He noted the growing uncertainty among the banks and the increasing tendency of such banks not to trust the assurances of the regulator could spell more doom for the mainstream markets. According to him, the current scenario does not look good for the US banking sector, and the absence of an immediate solution could result in more serious consequences.Focusing on market projections, Poppe observed that the proposed rate cuts by the Fed in the coming months could lead to a significant bull run for Bitcoin. However, if the cuts take place after the markets have started to drop, there might be a sell-off of Bitcoin in a liquidity correction that could kick in a bottom before prices begin to shoot up again.The post Poppe: US Banking Crisis Could Initiate Bitcoin Bull Market appeared first on Coin Edition.See original on CoinEdition More
Santiment, the blockchain analytics firm, published a tweet relating to a new milestone for Ethereum (ETH) this morning. According to the post, the number of exchange addresses interacting on the network is now at its highest level since November of last year. In addition, ETH is showing signs that it may break $2K soon, according to the firm.This tweet follows Santiment’s post yesterday, which showed that the number of active deposits on Ethereum reached an 8-month high. In addition, Santiment had predicted that there would be an increase in ETH’s volatility as a result.At press time, the price of ETH stood at $1,939.38 following a 2.20% increase according to CoinMarketCap. This 24-hour gain had also flipped the altcoin leaders weekly performance into the green. As a result, ETH’s weekly price performance stood at +2.03%..The daily trading volume for the crypto had also surged over the past 24 hours. At press time, ETH’s daily trading volume stood at $10,396,326,975, which was an incredible 53.38% increase. Furthermore, ETH was able to outperform the market leader Bitcoin (BTC) by 1.51% during the same time period.Daily chart for ETH/USDT (Source: TradingView)ETH’s price was able to break above the key resistance level at $1,960, where it continued to trade at press time. Today is a crucial day for the crypto as a close above this level will ultimately result in ETH breaking $2K in the following 24-48 hours. The recent bullish cross between the 9-day and 20-day EMA lines supports this bullish thesis. On the other hand, failure to close above $1,960 today will result in ETH’s price dropping to $1,800 in the next 24-48 hours.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 Exchange Address Activity Reached a New High Recently appeared first on Coin Edition.See original on CoinEdition More
In their newest YouTube video uploaded earlier today, Altcoin Daily shared some of their thoughts on Floki (FLOKI), and why they think the meme coin will be “massive”. Altcoin Daily specifically referred to Floki’s three pillars, community, utility and charity, to support their belief that FLOKI will be the next best thing in crypto.With regards to its utility, Altcoin Daily explained that Floki’s ecosystem is a community-driven ecosystem that aims to give the people control of their finances through at least six key utility offerings. Some of these offerings include the Valhalla Metaverse play-to-earn game, the Floki NFT collection and Floki prepaid cards.When looking at the charity pillar, Altcoin Daily revealed that Floki has made huge strides with regards to philanthropy. The video shared that Floki has built four schools in four nations of the world including Nigeria, Laos, Guatemala, and Ghana. The project has also publicly revealed that they plan to build a school in every under-developed nation.Lastly, community is something that Floki takes very seriously. The Floki vikings is a global community over 45,000 strong, and they have made it their mission to make Floki the most popular cryptocurrency in the world. They are also known to perform social media raids on multiple platforms to get the Floki name out to the masses.This caught the attention of Altcoin Daily especially because it showcases Floki’s commitment to great marketing and collaborations. At the end of the video, Altcoin Daily also stated that they believe Floki will be the catalyst for the next wave of retail crypto adoption.At press time, FLOKI was on CoinMarketCap’s trending list following a 44.92% price increase over the past 24 hours. The meme coin was worth about $0.00004669.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 Crypto Platform Believes FLOKI Will Be The Next Great Meme Coin appeared first on Coin Edition.See original on CoinEdition More
The change specifically takes place on the Ethereum Virtual Machine (EVM). Ethereum transactions need to be broadcast to the entire network, and any node can broadcast a request for the execution of a transaction on the EVM. Continue Reading on Coin Telegraph More
April saw several hacks, exploits and rug pulls that resulted in a net loss of over $100 million among several DeFi protocols. Continue Reading on Coin Telegraph More
The U.S. may not be experiencing hyperinflation, but the possibility of prices going out of control seems to concern the Federal Reserve. The Fed raised interest rates by a quarter-point on May 3 — to the highest level in 16 years — pushing the target range for its benchmark from 5% to 5.25%. Continue Reading on Coin Telegraph More
