VIETNAM is seeing an increase in the use of cryptocurrencies despite the International Monetary Fund warning that its introduction in emerging markets could threaten stability.
It comes when Shiba Inu has seen a ten percent increase in the past three days, with the price likely to go higher.
Federal Reserve Chairman Jerome Powell announced Thursday that there were no plans to ban cryptocurrencies in the US and prices rose 10 percent.
Meanwhile, in El Salvador, the country has made its first forays into bitcoin mining using electricity generated by a volcano, according to a video released by state-run geothermal company LaGeo SA de CV.
The first Bitcoin mining rigs were installed there in an energy factory, where President Nayib Bukele made cryptocurrency legal tender weeks ago.
Bitcoin had risen to a price of $ 47,974.84 on Coinbase on Saturday morning, and the total market capitalization of cryptocurrencies jumped back above the $ 2 trillion mark.
Also, Bitcoin and Ethereum are traded on Wall Street, and Coinbase now allows users to fund its accounts.
Read our live cryptocurrency blog for the latest news and updates …
WHAT IS SHIBA INU COIN?
Shiba Inu is a cryptocurrency token that allows users to hold trillions of them.
The tokens feature the same Shiba Inu dog as Dogecoin, which has grown massively in popularity recently.
WHAT WILL SHIBA INU BE WORTH IN 2022, CONTINUED
Meanwhile, the Coin Price Forecast expects Shiba Inu to hit $ 0.00002336 by the middle of next year.
It then expects to end the year at a slightly higher level of $ 0.00003037.
WHAT WILL SHIBA INU BE WORTH IN 2022?
Many cryptocurrency fans have predicted the value of Shiba Inu for 2022, but you should approach it with caution as these estimates are nowhere near guaranteed.
For example, the crypto website Wallet Investor expects up to $ 0.00018 in one year.
SWISS REGULATOR APPROVES FIRST CRYPTO FUND
The Swiss financial market regulator has approved the first Swiss crypto fund, Bitcoin.com reported on Wednesday.
FINMA announced that the fund is called “Crypto Market Index Fund”.
It is “an investment fund under Swiss law in the ‘other funds for alternative investments’ category with special risks”.
WHO IS BEHIND ALGORAND?
The Algorand Foundation, based in Singapore, is behind the project.
Algorand claims that it speeds up transactions and improves efficiency compared to Bitcoin and other blockchains.
WHAT IS ALGORAND?
Algorand is a cryptocurrency of the Algorand blockchain, a public decentralized network on which smart contracts can be built.
It was launched in 2019 by Silvio Micali, professor at the renowned Massachusetts Institute of Technology (MIT).
The computer scientist was also awarded the Turing Award for his work in the field of cryptography.
BUSINESS JOURNALIST SAYS DEBT BLANK IS A RISK TO CRYPTO CURRENCY
Fox business journalist Susan Li noted on Twitter that the looming debt ceiling crisis in the US could have an impact on crypto.
“DebtCeiling is a risk to all assets, including #cryptocurrency,” she wrote alongside a video discussing the issue.
COINBASE LET USERS DEPOSIT PAY CHECKS TO ONLINE ACCOUNTS
Coinbase enables users to deposit their paychecks directly into their online accounts, according to CNBC.
“With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase,” revealed Max Branzburg, Vice President of Product at Coinbase, in a blog post.
“We are committed to delivering the most trusted full suite of crypto-first financial services to our 68 million users.”
STEVEN SEAGAL’S BITCOIN SCANDAL
Under Siege and Half Past Dead Hardman Seagal was paid to promote Bitcoiin2Gen (B2G) which left 500 investors in cash and other cryptocurrencies out of pocket for unwittingly supporting the scam.
Seagal was reportedly offered $ 250,000 along with £ 750,000 worth of B2G to appear in promotional materials for the scammers.
He appeared in a press release for them and endorsed the program “wholeheartedly” in a post to his 7 million followers on Facebook.
LITECOIN VS. BITCOIN
Litecoin, which was founded in 2011 by Google engineer Charlie Lee, works in a similar way to Bitcoin.
Mr. Lee occasionally refers to Litecoin as the “silver of Bitcoin’s gold”.
The two cryptocurrencies behave similarly when setting up their global payment processes. Both are not controlled by financial institutions.
Like most cryptocurrencies, Litecoin uses blockchain technology to process and record transactions.
Litecoin is smaller, but a faster and cheaper alternative compared to Bitcoin.
EXPERTS PREDICT THE GROWTH OF POLYGON
How the price of Ethereum will change in the future cannot be said with certainty.
However, experts and investors have made some predictions.
Charlie Barton, investment specialist at the comparison portal Finder, warned in mid-May: “The performance of Polygon has been extremely strong lately and reached a growth of 10,000% in the last year.”
“It’s easy to get carried away, but such aggressive growth most likely won’t last forever.”
WHAT IS POLYGON?
Polygon is an Ethereum token that powers the Polygon network, which aims to provide faster transactions on the Ethereum blockchain.
It was originally known as Matic Network when it first launched in 2017.
Polygon hit its all-time high on May 18 when it shot to $ 2.4544.
The price is up roughly 9,200% this year – from $ 0.01781 on Jan 1st.
ALEXIS OHANIAN ABOUT CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, PART THREE
“I’ve never been so excited about the potential of the Internet,” added Ohanian.
“And that is mainly thanks to Vitalik Buterin.”
Buterin is the co-founder of Ethereum and co-founder of Bitcoin Magazine in 2011.
ALEXIS OHANIAN ON ETHEREUM CO-FOUNDER, VITALIK BUTERIN, CONTINUED
“No one could possibly have found all the uses for Ethereum, but it took someone’s idea to get started,” added Ohanian of Buterin.
“From then on, a new world has opened up and new ways of using blockchain technology have emerged – in which I have invested in some.”
“Whether startups like Sorare are reinventing fantasy sports or Rainbow users showcasing their NFT collections, none of this would have existed without Vitalik’s creation.”
ALEXIS OHANIAN ABOUT CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN
“Thanks to Reddit’s r / Ethereum community, I have had the privilege of following Vitalik Buterin’s career from the start, which is why I take some pride in seeing his legacy grow,” Ohanian wrote of the programmer.
“Sure, we can talk about the value he co-founded the platform, including Ethereum’s impressive market cap of around $ 400 billion, the dazzling world of decentralized apps, and this year’s boom in NFT trading.”
“What makes Vitalik so special, however, is that he is a builder.”
ONE OF THE CO-FOUNDER OF ETHEREUM IS CALLED A TIME 100 MOST INFLUENCING PERSON
One of the co-founders of Ethereum, Vitalik Buterin, was named one of Time Magazine’s 100 Most Influential People of 2021.
Former editor-in-chief Alexis Ohanian praised him in a letter for the piece.
DOW JONES CRYPTO TRADING EXPERT ON WALL STREET
Some cryptocurrencies are being brought to the Wall Street trading rooms, Money Control reported.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
WHAT WILL MEASURE THE PERFORMANCE OF BITCOIN ON WALL STREET?
The S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index will measure the performance of related digital assets after digital currencies like Bitcoin and Ethereum start trading on Wall Street, according to Money Control.
SHARES IN CRYPTO FIRMS FALL AFTER CHINA NOTICE
Shares in cryptocurrency-related companies Coinbase Global, MicroStrategy Inc, Riot Blockchain and Marathon Patent Group fell after China’s central bank banned crypto trading and mining.
“It’s been a very volatile week to say the least, so I think the volatility will continue into the last week of September, especially with the quarter-end window decorations,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Investors are also looking for signs of progress on President Joe Biden’s expense and budget accounts.
RISKS OF INVESTMENT IN KRYPTOS, PART FIVE
Finally the truth in Promotional material is a risk when investing in cryptos.
Companies can overestimate the return of products or underestimate the risks involved.
RISKS OF INVESTMENT IN KRYPTOS, PART FOUR
Another investment risk is the Fees and Charges.
Consumers should consider the impact of fees and charges on their investment, which can be greater than that of regulated investment products.
RISKS OF INVESTING IN KRYPTOS, PART THREE
A third risk when investing in cryptocurrencies is Product complexity.
The complexity of some products and services related to crypto assets can make it difficult for consumers to understand the risks.
There is no guarantee that crypto assets can be converted back into cash.
Converting a crypto asset back into cash depends on the demand and supply in the market.
RISKS OF INVESTMENT IN KRYPTOS, PART TWO
Another investment risk is Price volatility.
The significant price volatility in crypto assets, combined with the inherent difficulty of reliably valuing crypto assets, puts consumers at high risk of loss.
RISKS OF INVESTMENT IN KRYPTOS
We have summarized five risks when investing in cryptocurrencies.
The first is Consumer protection.
Some investments that advertise high returns on crypto assets may not be subject to regulation beyond anti-money laundering requirements.
AUDIUS VALUE INCREASES
Following the deal with TikTok, Audius’ price is up 109% in the last 24 hours at the time of writing, according to CoinMarketCap.
The price is now $ 3.55 down from $ 1.88.
It’s not a record high for the coin, however – audio rose to $ 4.18 in March, from $ 2.50 just a day earlier when the platform’s profile began to form.
However, it collapsed shortly thereafter, and despite a spike in May, it fell through the end of July.