Cryptocurrencies were all the rage earlier this year, with the prices of several coins surging to record highs and crypto exchange Coinbase making its public offering. Crypto enthusiast and Tesla CEO Elon Musk tweeted rocket and moon emoji, boosting the rallying cry “to the moon!” And investors big and small jumped into the market.

But after the spot price of bitcoin, the most popular coin, approached $65,000 in April, the boom turned bust: By early June, its value had dropped by nearly 50 percent. It’s likely that many of those new crypto investors felt the whiplash.

“It is very interesting that every time that bitcoin goes up, it gains all the hype, people get excited,” says Kiana Danial, author of “Cryptocurrency Investing For Dummies.” But Danial adds that the last person who buys when the price is at the top “is the person who’s going to panic when the price inevitably drops.”

So, what do you do when your digital assets like bitcoin crash? We asked several cryptocurrency experts to get their thoughts.

For those who have been investing in cryptocurrencies for years, dramatic gains and losses are nothing new. For example, bitcoin recorded a previous record high of nearly $20,000 in December 2017, but by December 2018 was trading below $3,500.

As bitcoin gains adoption, “the up moves and down moves can be breathtaking. Taking the long-term view puts these moves in perspective,” says Greg King, founder and CEO of Osprey Funds, an investment firm specializing in digital assets.

“For example, even though bitcoin was down 50% in April through May of this year, it is up 25 percent from those lows and still up 100 percent from Thanksgiving last year.” (Note: These comments were made on June 17, 2021. Who knows where the bitcoin price is by the time you read this.)

For seasoned bitcoin investors, the lower prices were welcome. “Then, you would actually see the drop of value in bitcoin as an opportunity to purchase,” Danial says.

» Learn more: But what is cryptocurrency?

When crypto is crashing, someone who’s been intrigued from the sideline might think this is the time to get in and “buy low.” But King recommends asking yourself two questions before deciding to invest in bitcoin or other cryptos.

“Consider whether an 80 percent to 90 percent down move in your crypto holdings would cause you to lose sleep at night or sell,” he says. “If the answer to either of those is yes, don’t invest.”

“Any asset has ups and downs — cryptocurrency has more ups and downs because of the amount of hype and FOMO involved,” Danial adds, alluding to a fear of missing out, “and the fact that people actually don’t know what it is. They buy it because they heard somebody talk about it … they are taking unmeasured risks.

“Ask yourself what amount of money you can actually afford to lose, because any investment has inherent risk,” she says. “If you are selecting your assets wisely and you have concrete reasons why you’re investing in it, you shouldn’t be swayed when the markets drop, and you will stay the course.”

Crypto experts suggest refraining from “all in” moves when deciding to invest. “Avoid buying large amounts of cryptocurrency all in one shot,” says Jake Yocom-Piatt, co-founder of Decred, a cryptocurrency with a $1.5 billion market share. “If you buy a whole bunch at once and the price drops, psychologically that’s very difficult for people.”

Instead, he suggests considering a common strategy from investing in stock markets: dollar-cost averaging. “Buy a small amount every month and then just keep doing it, as the price goes up or the price goes down, as opposed to buying it all in this one single crystalized cost which you’re going to have to deal with psychologically for the foreseeable future.”

Personal finance experts often say that any single asset, be it a specific coin or company’s stock or something else, should only be the sprinkling atop the parfait of an otherwise vanilla portfolio of stocks, bonds and mutual funds that mean to help you achieve your long-term financial goals.

“If crypto is the only asset you are investing in, you are probably taking on way too much risk,” Danial says.

—By Kevin Voigt

About the author: Kevin Voigt is a personal finance writer at NerdWallet. He has covered financial issues for 20 years, including for The Wall Street Journal and CNN.com. Read more

The cryptocurrency market continues its slide downwards, hitting its lowest level since early February. It has now sunk to a total value of $1.24 trillion, having stood at $1.42 trillion only a week ago. This represents a decline of just over 12%, with most of the top altcoins falling by higher percentages.

However, if you’re a believer in the long-term viability of crypto, then the market falls only ever provide discounts. Accordingly, we’ve picked the 5 best cryptocurrency to buy at low prices. This mostly covers coins with an absolutely low price, but it also includes a couple which priced low compared to their potential long-term value.

Bitcoin (BTC) has led today’s slide to fresh lows. It’s down by over 5% in 24 hours, having dropped to nearly $29,500. It’s also down by 10% in a week and 16% in 30 days. At the same time, its current price is 53% below its all-time high of $64,804, set back on April 14 (which now seems like an age ago).

Most major models of bitcoin’s price suggest that it’s grossly undervalued right now. The stock-to-flow model — which compares new bitcoin minting with its current stock — suggests BTC should be closer to $100,000 than $20,000.

— PlanB (@100trillionUSD) July 19, 2021

Likewise, bitcoin’s 11-year price history indicates it should reach $100,000 by the end of year. At the same time, a recent survey of 42 cryptocurrency researchers and executives found that 61% of them believe BTC is undervalued. They also, on average, expect a price of $66,284 by the end of the year.

In other words, bitcoin is cheap compared to where many expect it to be. This is why it appears among the 5 best cryptocurrency to buy at low prices.

Given its association with the controversial Bitfinex exchange, LEO Token (LEO) may not necessarily be a popular choice. However, it’s the only top-50 cryptocurrency to rise significantly over the past 24 hours and week.

At $3.17, it’s up by 7% in the past day and 8% in the past week. Better yet, it’s up by 24% in the last fortnight and 22% in the past month. This is enough to make it the best-performing coin across the past 30 days.

For those who aren’t familiar with LEO, it’s the native utility token of the Bitfinex exchange (owned by iFinex, which also owns Tether). As with Binance’s BNB, it provides Bitfinex users with discounts on trades.

💵Fiat deposits and withdrawals 🦁Access to UNUS SED LEO and its trading discounts ✅Stable and utility tokens deposits and withdrawals PLUS more! 🔥

Upgrade your account NOW!https://t.co/h6yw3UOHFn pic.twitter.com/oTTcpRp4pR

— Bitfinex (@bitfinex) November 27, 2020

At just over $3, LEO is certainly cheap. That said, the only problem with it is that it’s not entirely clear why it has been rising so strongly, particularly when the rest of the market is down. Data from Nomics shows that Bitfinex has enjoyed rising volumes over the past year.

This may suggest an increased demand for LEO. However, the volume has certainly declined in the past couple of months, implying weaker demand for the cryptocurrency.

Still, with the rest of the market tanking, LEO may be only one of the few chances for short-term gains right now.

Another cryptocurrency that has bucked today’s trend is Dash (DASH). It’s up by nearly 5% in the past 24 hours, at the relatively low price of $119. On the other hand, it remains down by 6% in the past week and 21% in the past month, following the rest of the market.

Compared to an all-time high of $1,493, DASH is certainly very cheap right now. In fact, it’s one of the few major coins that didn’t break its December 2017 ATH during the recent bull market. It’s currently 92% below this ATH, suggesting it has plenty of space left to rise if another bull market picks up.

And while Dash isn’t as widely discussed as the biggest cryptocurrencies, it continues to attract new partnerships. Most recently, it announced a deal with Naijacrypto to launch the first cryptocurrency exchange in Haiti.

More details: https://t.co/fBduO6VsnW pic.twitter.com/OylsYbBhKj

— Dash (@Dashpay) June 28, 2021

Cardano (ADA) certainly hasn’t escaped today’s selloff unscathed. It’s down to almost $1.00, having fallen by 12% in 24 hours. It’s also down by 21% in a week and by 25% in a month, with its current price some 57% below its ATH of $2.45.

These falls may be steep, but they arguably make ADA one of the best cryptocurrency to buy at low prices at the moment. According to Blockchaincenter.net, it is the fourth best-performing cryptocurrency over the past 90 days. This is due largely to it rising after May 12, when the market fell following Tesla’s rejection of bitcoin.

Cardano’s status as a proof-of-stake blockchain helped it to rise to new heights after the outgoing bull market began its decline. And it’s actually one of the few major platforms with some big positive news to look forward to in the coming weeks. This is the arrival of smart contracts, which are due to launch at some point in August. Once they do go live, Cardano will effectively become a fully-fledged dApp platform and likely enjoy increased adoption. In turn, ADA will leave behind its current low price.

Ripple (XRP) is probably the lowest, sub-$1 coin with the best long-term prospects. Its price has sunk to $0.522760, a fall of nearly 10% in 24 hours. This also marks a fall of 20% in a fortnight and 31% in 30 days.

There are two things that make XRP one of the best cryptocurrency to buy at low prices right now.

Firstly, Ripple’s ongoing case with the Securities and Exchange Commission continues to go well. Most recently, two SEC commissioners submitted a letter to the case’s presiding judge, declaring that Ripple didn’t have fair notice from the SEC to the effect that XRP might be considered a security. This letter might make a settlement or dismissal more likely.

— Jeremy Hogan (@attorneyjeremy1) July 19, 2021

Secondly, Ripple and XRP can boast more adoption than many other coins and platforms. Ripple announced a partnership with Egypt’s largest bank in May, while it also revealed a move into tokenisation at the beginning of this month.

Taken together, such developments put XRP in a position to rally strongly if and when the SEC case is settled in Ripple’s favour.

In the latest sign of peak cryptocurrency mania subsiding, a token backed by billionaire Mark Cuban crashed down to zero dollars Tuesday, joining a slew of other hyped-up cryptocurrencies that have crashed over the past month after frenzied trading drove the market to meteoric price highs this year.

A wave of panic selling Wednesday morning drove the price of Iron Titanium, a token Cuban disclosed he owned earlier this week, from a Wednesday high above $64 to less than 0.01% of a penny by Thursday morning after some of its biggest investors started selling the token at high volumes, spooking individual investors and triggering the massive selloff.

Though much more gradual, the prices of several other tokens sporting multi-billion-dollar market capitalizations have similarly crashed over the past month amid a broader crypto-market rout.

After skyrocketing to a $45 billion market cap and becoming a top 10 cryptocurrency virtually overnight last month, Internet Computer has seen its prices tumble nearly 90%.

The token drew widespread praise from analysts and institutional investors, including Polychain Capital founder Olaf Carlson-Wee, but crypto enthusiasts on Reddit have soured on the token during its plunge and blamed "elites" (or institutional investors) for dumping their coins and driving down prices.

Safemoon, another token lauded by the Reddit crowd and social media influencers including crypto-bull Dave Portnoy, has plunged as much as 70% since amassing a $6 billion market cap in mid-May.

Shiba Inu tokens drew massive fanfare for their resemblance to dogecoin, the virtual currency endorsed by billionaire Elon Musk, and though they once held a nearly $13 billion valuation, they've plummeted nearly 75% in value since a peak on May 10.

According to crypto-data website CoinMarketCap, roughly one-third of the world's 100 most valuable cryptocurrencies have plummeted at least 40% over the past month, and a dozen have crashed more than 50%. Only three have added value: Quant, Theta Fuel and Amp—small tokens (subject to extreme volatility) worth $916 million, $2.8 billion and $4.2 billion, respectively.

"I got hit like everyone else. Crazy part is I got out… [Then] Bam," Cuban tweeted late Wednesday about Iron Titanium's crash. The plunging prices exposed a flaw in the token's design that created an arbitrage opportunity, effectively allowing investors to make unlimited money by buying and selling the token, which drove prices down further. “It was a crypto vortex of money,” Fred Schebesta, the founder of fintech company Founder and an Iron Finance investor, told Coindesk. “What happened is just the worst thing that could possibly happen considering their tokenomics.” Reddit traders have also blamed lackluster designs for the plunging prices of Safemoon, Shiba Inu and other formerly lauded tokens, though their crashes have been much less severe.

Established cryptocurrencies bitcoin and ether have struggled over the past month amid regulatory concerns and peaking investor sentiment, but their prices have fared much better than most of their smaller counterparts. Bitcoin is down 11% over the past month, while ether has plunged about 28%. When the crypto market peaked in May, Oanda Senior Market Analyst Edward Moya noted traders were piling into altcoins—or bitcoin alternatives—in a sign of growing speculation. Trading volume surged at the time, consistently totaling more than $300 billion each day. Mania has since cooled, with volume down to less than a third of its peak. 

$1.6 trillion. That's the value of the cryptocurrency market, 63% of which is made up of bitcoin and ether. 

Iron Finance's Titan Token Falls to Near Zero in DeFi Panic Sell (CoinDesk) 

Musk Denies Bitcoin 'Pump And Dump'—And Says Tesla Will Resume Transactions Once This Mining Goal Is Reached (Forbes)

I'm a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism

I'm a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC's Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com. And follow me on Twitter @Jon_Ponciano

The Biden administration recently met with other government officials, including staff members at the Treasury Department, to discuss the risks presented by the extreme volatility in cryptocurrency markets, the Washington Post reported on Tuesday, and how to prevent illicit activities that use crypto.

The White House has also discussed the matter with the Treasury department’s Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, although these talks did not include most senior-level officials like Treasury Secretary Janet Yellen, two unnamed individuals told the Post.

Biden officials are reportedly looking at possible “gaps” in oversight of the crypto market, and whether such gaps might be exploited to fund illicit or terrorist activities, the Post reported.

They also discussed possible ways to protect retail investors who want to purchase cryptocurrency.

Although federal regulators don’t currently believe the massive swings in crypto prices pose a threat to overall financial market stability, they contend such risks are worth monitoring, the Post noted.

Forbes has reached out to the White House, Treasury Department and the CFPB for comment.

“[Federal officials are] aware of the fact that there are all kinds of risks [related to crypto] in the abstract and things to look out for, but they are still largely in a wait-and-see posture,” an unnamed person briefed on the discussions told the Post. 

Last week, the Treasury Department revealed a plan to raise $700 billion over the next 10 years to help fund Biden’s $1.8 trillion American Families Plan which included new tax enforcement provisions that seeks to put pressure on cryptocurrencies, crypto asset exchanges and crypto payment services to report transactions to the Internal Revenue Service in order to uncover unreported income or to detect incidences of tax evasion, money laundering and other illicit activities. The plan would also compel businesses to file a current transaction report if they receive cryptocurrency valued at more than $10,000 (as they are currently required to report cash payments above $10,000). Meanwhile, Bitcoin, the largest and most popular cryptocurrency, traded at around $38,000 on Tuesday at 1:20 p.m., a 36% plunge from May 9, partly due to worries about Chinese regulatory crackdowns on cryptocurrency transactions as well as comments made by Tesla chief Elon Musk about the climate impact of mining Bitcoins. Bitcoin hit an all-time high of almost $65,000 in mid-April.

Luke Lloyd, wealth advisor and investment strategist at Strategic Wealth Partners in Independence, Ohio, told Forbes that government regulation of crypto markets isn’t “necessarily a bad thing” as long as it doesn’t completely ban cryptocurrency. But he cautions that regulation can kill innovation, and could restrict the free markets from working properly. “In the end, the issue of volatility in the cryptomarkets will fix itself if cryptocurrency becomes what it’s supposed to, at least for the larger coins like Bitcoin and Ethereum,” he said. “As more players and money get involved with Bitcoin and Ethereum, the market cap will rise. As the market cap rises, volatility will shrink.”

$1.63 trillion. That’s the current total market cap of the entire crypto market, according to CoinMarketCap, however that figure has dropped about 36% from a peak of about $2.53 trillion in early May.

On Monday, Federal Reserve board governor Lael Brainard promoted the idea of a cryptocurrency backed by the central bank, saying it would, among other things, help to provide financial services to the 20% of Americans who are “underbanked.” In a speech at a conference presented by Coindesk, a crypto news site, she said: “We must explore, and try to anticipate the extent to which households’ and businesses’ needs and preferences may migrate further to digital payments over time.” She added that a digital dollar would be a “new type of central bank money issued in digital form for use by the general public.” Last week Fed Chairman Jerome Powell said the central bank plans to release a working paper this summer on the various facets of central bank digital currencies, suggesting the Fed is getting serious about the matter.

Allianz chief economic adviser Mohamed El-Erian warned on Monday that volatility is likely to be a permanent feature of cryptocurrencies.  “I think the volatility will continue,” he told CNBC. “The roller coaster, the up and down. We’ve traded in the $30,000 to $44,000 price range [for Bitcoin] in a week, that’s enormous.”

Elon Musk And Michael Saylor Lead Effort By Bitcoin Miners To Address Environmental Concerns (Forbes)

Billionaire Ray Dalio Reveals Bitcoin Investment But Warns Of Regulation Rocking Crypto Markets (Forbes)

What Is Bitcoin And How Does It Work? (Forbes)

I have more than 20 yrs experience in writing about financial markets. I am especially interested in history and literature.

Editor's note: China has been tightening its regulation over cryptocurrencies. A recent move has been its ban on financial institutions, including banks and online payment channels, from providing services related to cryptocurrency transactions. What does China's crackdown mean for crypto in the country? Why has China tightened its regulation of cryptocurrency? How might China's ban affect the world cryptocurrency market? Tsai Wei-Tek, a blockchain expert, a professor from Beihang University shared his views.The views expressed in the video are his own and not necessarily those of CGTN.  

CGTN: What does China's crackdown mean for crypto in the country？

Tsai: The announcement means that China is trying to significantly reduce the relevant activities in the country. And this includes any crypto transactions and mining. So practically, it shuts down the whole industry.

CGTN: Why has China tightened its regulation of cryptocurrency?

Tsai: At this time not only China, but a lot of other countries are also trying to ban these cryptos.There are several reasons that governments would like to ban these cryptocurrencies. One of the reasons goes to the volatility of them. The second is that these cryptocurrencies' market cap has gone up so much which is bigger than their largest bank in the country. So they will have a lot of economic influence on the country.

One needs to remember that these digital currencies are not national currencies, but international currencies. Therefore, if a significant portion of the economic activities belong to the international activities, this country will be under severe international influence.

And many countries may not want that.

The International Monetary Fund has published a report in October 2020 that said that these cryptocurrencies are international activities and many countries will be under stress or influence of them.

There is also another scenario. An article in the United States stated that the cryptocurrency such as Bitcoin may become the world reserve currency. If this happened, the whole financial market structure will have to be changed.

It means that we will have a new Bretton Woods. We will have to go back to 1944 and reconstruct the new world financial structure. I'm not sure the world is ready for it. It's too complicated and have too much stress. The world is not ready for any of this.

CGTN: How might China's ban affect the world cryptocurrency market? 

Tsai: If the Chinese government bans mining and then the transactions, it will certainly put a significant damage to the acceleration or the growth of these cryptocurrencies.

This will certainly put a lot of restraints on the cryptocurrency price and volatility. But I'm not sure that the cryptocurrency will be dead by this. There are several reasons for that.

First of all, in 2008, when the U.S. was having a financial crisis which eventually became a global financial crisis, many banks may have failed, or would have failed. But the government said that these banks are too big to fail. If you look at the current bitcoin market cap, it is about double of the JP Morgan market cap. JP Morgan is the largest bank in the U.S. 

So, if Bitcoin market cap becomes zero, practically we have two banks, the two biggest banks in the U.S. completely collapse. And the economic consequence of that is too serious. And it will damage a lot of things. So I do not expect that the crypto world will collapse totally due to this.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com.)

Several large cryptocurrency exchanges had trouble staying open during Wednesday's market crash , which saw Bitcoin and Ethereum lose 30% and 40% of their value, respectively, in 24 hours.

Leading US exchange Coinbase reported "intermittent downtime" throughout the morning, while globally popular exchange Binance paused Ethereum-related token withdrawals, Gemini reportedly experienced lag times, and Kraken noted user "connectivity issues."

Decentralized exchanges managed to stay up despite the high trading volumes generated by today's selloff. 

Probably just a coincidence. #Bitcoin #BTC #Crypto

— Mr. Whale (@CryptoWhale) May 19, 2021

Centralized exchanges such as Coinbase allow people to buy, sell, and trade cryptocurrencies via an intermediary: the exchange. In this business model, trades aren't registered directly on the blockchain, but rather within the exchange's own wallets; the exchange takes custody of your crypto.

By contrast, decentralized exchanges facilitate peer-to-peer trading and don't take custody of users' assets.

One feature of decentralized exchanges is that they're mostly immune to the outages that face their centralized peers. That's because they're distributed protocols that use smart contracts on a public blockchain , often Ethereum, to run. As long as the blockchain is operating, DEXs keep on trading. And blockchains have redundancies built in so that they do away with downtime; millions of computers are running the software around the world.

Ashleigh Schap, Growth Lead at leading Ethereum DEX Uniswap , reported that the exchange was working "flawlessly" this morning. And Rival DEX SushiSwap recorded boffo volume numbers today of over $2.5 billion in trading volume over the past 24 hours.

https://twitter.com/ashleighschap/status/1395009603797192709

https://twitter.com/Arthur_0x/status/1395032340062109703

But all that isn't to say trading on a DEX has no downside. For starters, tradable assets are often limited to those that use the same blockchain as the DEX, making it less than straightforward to buy assets such as Bitcoin. However, one can buy a "wrapped" version that mimics BTC. And THORChain, which is integrated with trading platform ShapeShift, has emerged as a cross-chain DEX that bypasses the need for Wrapped Bitcoin altogether.

Moreover, while trading technically never stops, it can get pricey due to network congestion on the blockchain itself, which is already an issue for Ethereum. So, depending on the exact time, buying $500 worth of ETH on a DEX today could've cost around $200 in network fees—though buying an asset that was above $4,200 just days ago at less than half that price was worth it to many. Still, if you were able to buy on Coinbase Pro, the fees would have been about $2.50 to the exchange.

Coinbase has a habit of going down during steep market corrections. Temporary surges in trading volume would necessitate having more servers permanently at the ready. The exchange said it would add server capacity in January, before it went public. 

That same month, the CEO of Web3 blockchain data firm Pocket Network, Michael O'Rourke, told Decrypt : "It doesn't make sense for Coinbase to 10x their server costs by having servers sitting there for unknown spikes in demand. The rate at which people are refreshing to buy crypto is faster than the physics of being able to quickly spin up servers on [Amazon Web Services]."

On Wednesday, cryptocurrency markets continue to drop lower in value, as the entire crypto-economy has plunged 17% below the $2 trillion mark and now rests at $1.801 trillion. Bitcoin, the leading cryptocurrency in terms of market capitalization, touched a high of $40,770 per unit at 4:48 a.m. (ET). A few hours after hitting that price range, the crypto asset tapped a low of $36,250 dropping over 11%.

Bitcoin (BTC) has lost considerable value during the last few days, alongside a great number of other digital assets that have seen price drops as well. The entire crypto-economy has slid over 17% during the past 24 hours and rests under the $2 trillion range at $1.801 trillion.

BTC is currently exchanging hands for $37,544 per unit after tapping a low of $36,250 at around 7:30 a.m. (ET). Seven-day stats show BTC is down over 20% and 30-day records show BTC lost over 30%. Data during the last three months shows BTC is also down 24% on Wednesday.

The second-largest crypto asset in terms of market cap, ethereum (ETH) has shed 23% during the last day and 26% for the week. ETH is currently trading for $2,545 per ether but ETH’s market cap still commands 18% of the entire crypto economy. Out of the top ten coins, the two biggest losers today include binance coin (BNB), a top ten coin that lost over 26% in a day, and dogecoin (DOGE), which lost 26% as well. While BNB is swapping for $385 per unit, DOGE is trading for $0.34.

Following the BTC drop below the $40k zone, a number of crypto executives and market strategists commented on the price slide. Monark Modi, the founder and CEO of Bitex says that there is heavy profit-taking at the moment and negative market sentiment in the air.

“Price volatility in bitcoin has been observed for a while now and the drop from the previous high of $63k down to $40k was expected,” Modi wrote. “Some other factors contributing to the drop are also recent U-turn of Tesla in accepting the most popular cryptocurrency as payments. The investment scenario across the globe has been subdued owing to either government regulations like the ban on crypto trade by China or even closer home in India where investors are facing deposit and withdrawal challenges owing to rumours of financial institutions restricting transactions,” the Bitex CEO further stressed.

— Shehryar Bukhari (@ShehryarBukhar8) May 19, 2021

Ulrik Lykke, executive director at crypto hedge fund ARK36 also spoke about BTC’s price dropping below the $40k region. “Crypto markets are currently processing a cascade of news that fuels the bear case for price development,” Lykke explained. “Last week, more than 250 billion USD evaporated from the Bitcoin market alone. In absolute terms, such a number may seem astronomical. In terms of percentages, though, such market moves are frequent and we have seen similar ones in the past. In 2017, price dives in the range of 35%+ happened several times before the price topped out,” the ARK36 director said.

Meanwhile, on Twitter, the hashtag trend #cryptotrading is trending on Wednesday with thousands of tweets about people getting “rekt” or otherwise “buying the dip.”

— Anshu K (@AnshuK10839564) May 19, 2021

Quite a few crypto participants tweeted before and after images of themselves going from rich to poor in a month.

Ruud Feltkamp, CEO at crypto trading bot Cryptohopper says the leg down was to be expected and there’s been trading opportunities in altcoin markets.

“Bitcoin’s current selloff is something that we expected,” Feltkamp said in a note to Bitcoin.com News. “Every year we see that the trading activities decline from May and only really increase again from September. Bitcoin going down like this presents excellent opportunities for traders trading altcoins. If this bull run is a bit like that of 2017, then we expect the real peak of the bitcoin price at the end of this year around New Year’s Eve, after which we will see another Alt season in early 2022,” Feltkamp further noted.

Joel Kruger, cryptocurrency strategist at LMAX Digital said his team is focused on ethereum (ETH) markets. “The shakeup in crypto markets has intensified into Wednesday, with Bitcoin dropping back below $40,000 for the first time since early February and ether (ETH) sinking below $3,000,” Kruger told Bitcoin.com News. “Bitcoin and ether are now off some 40% and 30% respectively from recent record highs,” the LMAX executive said. Kruger further added:

Our biggest concern with respect to the outlook right now, and particularly in reference to the price of ether, is that the monthly chart, as referenced in this report, is still showing the price of ether trading at severely overbought readings. This suggests there could be plenty more room for decline before ether finds its feet again.

What do you think about today’s cryptocurrency market action? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

The crypto prices have been crashing over the past week, forcing Bitcoin below $40k for the first time since early February of this year. And, while some are wondering whether this might be the start of the next crypto winter, others are more interested in what is causing the drop.

Some have blamed Elon Musk and Tesla, as the crash started soon after Musk’s appearance on SNL and Tesla’s later announcement that it will no longer accept Bitcoin payments, because the coin’s energy-intensive protocol is bad for the environment. However, these claims were quickly countered by two crypto analysts.

Another theory is that the Securities and Exchange Commission (SEC) had something to do with it. After all, the SEC recently issued a warning that seems to have eliminated any hope that the US might soon see its own crypto ETF. Specifically, the SEC cautioned investors about the risks of bitcoin futures used in mutual funds.

Nominee for new SEC chairman position Gary Gensler has also recently renewed calls for a comprehensive regulatory framework for crypto, which may have added to uncertainties, and we all know that markets hate uncertainty.

Almost simultaneously, a report claimed that the SEC now has carried out around 100 enforcement actions in the crypto sector and that these actions brought in over $1.7 billion in penalties. While the actions were against crypto scammers, fake projects and the like, this might still be discouraging institutional investors enough to cause the prices to start dropping.

And, lastly, there has been some speculation that the US SEC – unwittingly of otherwise – might have the ability to manipulate the crypto prices, and potentially create the conditions for the next crypto winter. According to the report, experts have analyzed how SEC statements correlated with short-term price movements, and the results have revealed that, depending on the nature of the announcement, the SEC does have the ability to move the market.

With that said, this scenario is also very unlikely, as data shows that the sell-off was not caused by crypto bulls, institutional investors, or any single source or small group of sources. Instead, it was most likely caused by newcomers to the crypto sector who simply panicked when a smaller correction took place and turned it into a large one through their own actions.

Considering all of this, it is possible that the prices will recover in days, or maybe even weeks to come, and recommence the surge higher, potentially to new all-time highs. There are no guarantees that this will happen, but the possibility does exist, so it might pay to keep a close eye on the behaviour of the crypto market in the near term.

TL;DR Breakdown

As the cryptocurrency world came crashing down this week, Cardano’s (ADA) price was miraculously setting an all-time high on the 5-day chart at $2.5. However, the stay at the top was short-lived before the coin underwent massive selling pressure and fell to $1.8.  Cardano sits at number 5 among the top ten cryptocurrencies by market capitalization (Coinmarketcap) with a capitalization of $31 Billion.  The altcoin still holds a lot of optimism in anticipation of launching smart contracts in August 2021. Pundits believe it would be a great contender for Tesla’s next accepted payment coin. ADA started 2021 at $0.41 and is now trading around $1.5 and $2.5. In the future, we can expect Cardano to compete with giant coins such as Bitcoin and Ethereum, given the blockchain’s use cases and scalability. Well, let’s look at the price movement of Cardano (ADA) and see what the technicals have in store. 

Cardano (ADA) was unable to beat resistance above the ATH that was set slightly above at $2.75 and the 1.618 Fibonacci extension level. Despite the bears managing to pull the price towards oversold conditions on 16th May, the Relative Strength Index (RSI) is adjusting towards the overbought region and the bulls might take charge anytime. This also proves that there are more chances of beating further resistances and setting new targets before hitting optimum. 

The technicals are not indicating any good on the 24-hour chart. Cardano (ADA) is already trending on a descending channel around the $1.66 price zone, which also seems to be the support; as the price is retreating upwards from this point. The current price at the time of writing is $1.73, with the next resistance level based at $2.00 and the 50% Fibonacci extension level. ADA bulls are hoping to conquer this price level and retest the current all-time high, or proceed to target a new ATH above $2.6 and $2.70.

On the daily chart, the coin hit a 24-hour high of $2.02 in the early morning hours before facing a downside that saw its bottom at a daily low of $1.66.  The bulls are afraid the downward pressure might overpower buying pressure and have the coin hover around the $1.00 psychological support. 

The 1-hour chart is also implying a descending channel and an attempt to create support at the $1.65 level. The chart is marking sharp edges indicating sharp short-term surges and declines. This also reveals an accumulation region with a price resistance occurring around the 100-hourly MA at $1.73

Cardano has many plans ahead including the smart contracts launch in August as well as a partnership with the Ethiopian government to provide blockchain services. Pundits had earlier said Cardano (ADA) was greatly undervalued. Coinpedia for instance predicts the cryptocurrency could hit $10 by the end of the year.  With such predictions and optimist sentiments, Cardano is likely to break bars and set new highs in the coming months. 

Bitcoin inflows to cryptocurrency exchanges surged on Monday by the most in 15 months, blockchain data shows, in what might be a sign of more retail traders looking to liquidate their holdings in a falling market.

Crypto exchanges registered a net inflow of 30,749.89 BTC on Monday, according to the data provider Glassnode. That was the biggest single-day tally since March 12, 2020, when the bitcoin price tanked by 40% amid coronavirus-induced panic selling in the global financial markets – earning the date the moniker of “Black Thursday.”

Investors typically transfer bitcoins to exchanges when they want to liquidate their holdings. On Black Thursday, for example, exchanges witnessed a net influx of over 40,000 BTC.

Bitcoin fell to $42,102 on Monday, extending the preceding week’s 20% decline and hitting the lowest level since Feb. 8, according to CoinDesk 20 data. The sell-off gathered steam over the weekend with some Twitter users suggesting that the U.S. electric car maker Tesla may be selling its bitcoin holdings.

Tesla CEO Elon Musk clarified early Monday that the company has not sold any coins. So far, however, Musk’s declaration has failed to lift the cryptocurrency beyond $45,000.

While net inflows spiked on Monday, the majority of the action was concentrated mainly on Binance, a preferred venue for retail investors, as per Glassnode. Meanwhile, the U.S. exchange Coinbase continued to register bitcoin outflows, potentially indicating persistent demand from institutional investors looking to buy the price dip.

“Coinbase has seen almost entirely net outflows of BTC since breaking last cycles $20,000 all-time high, a trend that has continued this week,” Glassnode said in the weekly newsletter published on Monday. “Coinbase is the preferred venue for U.S. institutional accumulation, and given the scale of typical daily withdrawals (10,000 to 20,000 per day), it suggests that larger buyers remain in active accumulation during this correction.”

While Binance received more than 80% (or 26,000 BTC) of the total net inflow of 30,749.89 BTC on Monday, the U.S.-based Coinbase registered a net outflow of 146 BTC.

The two exchanges have seen diverging trends in net flows in recent weeks. The balance held on Coinbase has declined by 34,408 BTC since April 19. Meanwhile, the amount held on Binance has increased by 95,397 during the four weeks.

The magnitude of the net bitcoin flows on Binance has picked up sharply in recent months in a sign of “volatility in Binance user macro sentiment,” as noted by Glassnode.

Also read: Bitcoin Chart Indicator Suggests Worst of Pullback May Be Over

“This provides further indication that the recent inflows are likely to be driven by both new market entrants (panic sellers) and potentially due to capital rotation into other crypto assets,” Glassnode’s weekly newsletter said. For example, some investors could be transferring bitcoin to Binance to snap up alternative cryptocurrencies.

That said, inflows do not imply immediate liquidation, just traders getting into position to make a quick sale, and it’s hard to gauge how many of the coins were already liquidated, partly due to limitations on the data.

There’s also the possibility that some of those traders may hold out for higher bitcoin prices.

As Gary Gensler takes the helm at the U.S. Securities and Exchange Commission, the cryptocurrency industry is awash with questions. What will be the SEC’s new enforcement priorities? Which crypto project will be the next to receive a complaint? Will SEC enforcement actions catalyze the onset of the next “crypto winter”? 

While no one has all the answers, one repeated focal point is what impact SEC actions have on token prices. To analyze the impact, we carried out an analysis of how SEC announcements correlate with short-term price movements. 

The takeaway: Depending on the nature of the announcement, the SEC does move markets in directionally intuitive ways, though given the fast-moving nature of the industry and limited data points, it’s impossible to know if these trends will continue. 

One tangential data point is BitConnect: Starting on Jan. 4, 2018, bitconnect coin (BCC) dropped from about $450 per coin to $7 per coin over the course of a month after the company received cease-and-desist orders from Texas and North Carolina securities regulators. Those orders ultimately compelled BitConnect to shut down operations entirely. While those state securities regulators have a narrower scope of jurisdiction than the SEC does, their actions did lead to the demise of BCC. 

Obviously, securities regulators certainly can have a large impact on price if a project chooses to shut down. But even if the project decides to continue operations, price can be affected. Why?

First, litigation is a costly and time-consuming process. Most projects already aren’t able to deliver code, products or partnerships fast enough, and litigation is a black hole for the company’s time with discovery, depositions, negotiations, court appearances and everything else. Additionally, the initial stages of securities litigation could cost hundreds of thousands to millions of dollars, leaving much less in the treasury for actual development.

Second, a securities lawsuit tarnishes a project’s reputation, often rightfully so. Potential business partners, investors and employees are hesitant to work with a company that is allegedly operating illegally and may need to imminently shut down. Community members may decide they do not want to bear the regulatory risk of the project and take their talents elsewhere.

Third, most cryptocurrency exchanges are not securities broker-dealers, and so exchanges will likely delist the token to minimize securities risk. That will hurt liquidity and make it more difficult for people to access and use the token.

Fourth, the SEC or another securities regulator may demand that a project register sales of its token as a securities offering. If the project does so, transactions of the token may be allowed to take place only on securities exchanges and applicant tracking systems (ATS), and they would be subject to securities trading restrictions. If the token is a payment token or used for decentralized activity, the friction of registration will almost completely kill its utility.

In short, there would be good reason for the value of a token to drop upon news that the SEC has sued a project.

That said, if a project reaches a favorable settlement with the SEC, it’s a different story. If the settlement requires a monetary fine but otherwise allows the token to trade like normal today, it may cause temporary brand harm but at least the project can continue development. Arguably, the project can even continue its course with greater regulatory certainty.

I tracked SEC announcements against certain projects and these project tokens’ subsequent price movements in a one-day, seven-day, 30-day and 90-day timespan. Because a rising market lifts (or pumps) all boats (and vice versa), I examined token prices based on bitcoin’s (BTC) price.

This analysis is focused on longitudinal market price impact, so I excluded tokens that were required to repay investors’ contributions, offer rescission to token purchasers and/or register with the SEC as a security, such as bitclave (CAT), dropoil (DROP), gladius (GLA), Paragon’s PRG and Airfox’s AIR. Those tokens aren’t publicly traded, and so there’s no market price.

I broke down the remaining tokens into two categories: news of a “favorable” resolution (defined as a settlement or final judgment that does not require rescission or registration of the token) and news of a SEC complaint. I include Kik’s KIN in both categories because Kik progressed in litigation prior to a final judgment.

SEC Complaints:

I tracked the closing price of each token on T-1, T, T+1, T+7, T+30, and T+90, with T being the date of the announcement. Afterward, I calculated the percentage change of the price at each date from the close at T-1 to track the delta over time. To illustrate, a 0.00% change at T+7 would mean that the price did not change from T-1.

Projects that achieve a favorable resolution end up maintaining or exceeding the price of their tokens in BTC terms at T+90. They may even see an increase in price on the day of announcement, since a favorable settlement may be perceived as a “victory” and clears up regulatory uncertainty surrounding the token.

On the other hand, projects that are actively undergoing SEC litigation tend to suffer the day of announcement and end up suffering a drop in T+90 price relative to BTC, though in U.S. dollar terms they could be up due to overall market forces. This weakening against BTC suggests these projects may be losing market share and the strength of their ecosystems.

A caveat: There aren’t enough cases to form a rigorous finding. The analysis also doesn’t isolate other shocks that could’ve happened, such as new releases or key executives leaving. It could also be the SEC was more eager to take a favorable resolution during different periods of market activities. That said, a pattern does seem to emerge.

The goal of this article is to provide a surface-level analysis. For those who want to perform a more rigorous analysis, I’d recommend analyzing how a basket of 10 or 20 of the top tokens may move against BTC during the same time period as a control, and factoring in each token’s average volatility via tests of statistical significance.

Based on the data, it seems that projects that reach favorable resolutions with the SEC experience positive price movements against BTC, whereas projects undergoing litigation will experience negative price movements against BTC. However, note that it’s difficult to quantify what should be the true price impact of any such announcement. Thus, it’s difficult to say if a piece of news is “efficiently” priced in.

Market composition also matters. Most cryptocurrencies trade globally and different regulators have different definitions of what constitutes a security. Global traders may not care about the SEC’s designations if they reside in countries where securities laws are more lax regarding crypto. For example, the Japan Financial Services Agency has declared that XRP does not meet the definition of a security under Japanese law, in contrast to the SEC’s stance under U.S. law. Therefore, if the primary trading base of the token are non-U.S. users, prices may justifiably not move as much upon SEC news compared to tokens primarily traded by U.S. users.

As institutional holders, professional market makers, professional traders and more conservative investors (e.g., pensions and endowments) enter the industry and become a more dominant presence relative to retail, it’s likely SEC complaints may have more of an impact. Few parties subject to reporting and/or licensing requirements would want to assume the risk that they may be unlawfully performing unlicensed, unregistered securities activities.

In conclusion, SEC announcements do seem to matter to markets and in directionally rational ways. As the SEC enters a new era of enforcement with Gary Gensler leading the charge, it’ll be interesting to see whether these trends persist.

For many years, cryptocurrency mining has only been reserved to a select few – those people with enough time and capital willing to invest resources into setting up their own mining rigs. However, cloud mining has been quickly gaining speed, and StormGain’s solution removes the technical barriers from the equation in hopes of creating a more even playing field. 

Since miners need to keep several factors in mind, including electricity costs, upkeep and maintenance, and the overall investment return, mining has become less lucrative for the smaller players. StormGain wants to change this narrative, and give everyone the chance to participate in the verification of cryptocurrency transactions, earning a nice income whilst doing so. 

Cloud mining is a prevalent trend in the cryptocurrency industry today. However, many providers claim to offer significant yields and fail to deliver on those promises. StormGain is a different breed, as it provides a mobile-based cloud mining solution. Every user can mine cryptocurrency directly from their mobile phone without dealing with the hardware side of things. Mobile app users connect directly to remote cloud servers, allowing StormGain to provide a risk-free and convenient mining solution, incomparable to those offered by other cloud mining service providers. 

The first step is to register at the StormGain platform using a smartphone – or desktop computer for those who prefer that option. StormGain purposely opts for a pain-free registration process to get as many people acquainted with cloud mining as possible. The registration process also involves a lucrative bonus of $5 USDT , delivered directly to users’ mining accounts. The process is simple – upon registering, use the promo code MINER to receive the bonus. After confirming the account, users can begin mining Bitcoin right away by connecting to the cloud mining server, with no impact whatsoever on the smartphone’s performance. 

After meeting the minimal $10 USDT profit threshold, users are free to trade and exchange their crypto assets with StormGain. Withdrawal of mined currency is not possible without going through the trading process first, but all profit generated via trading can be transferred out of one’s account at any given time – a fair trade-off.

The trading and exchanging via StormGain is available at 0% commission, with users benefiting from all standard and advanced instruments at their disposal. The service also introduces fiat-based cryptocurrency purchasing for those who want to expand their crypto portfolio quickly and effortlessly. 

StromGain has contracted incredible partnerships since its inception, making it the 1# interest rate provider for crypto traders by CoinMarketCap, a member of the well-known Blockchain Association within the Financial Commission, but also an S.S. Lazio official trading partner, and the market’s best cryptocurrency trading & exchange platform, according to The European. To date, StormGain’s trading product notes a 30-day volume of over $6 billion , generated by tens of thousands of traders worldwide. 

What sets StormGain apart from other cloud mining providers is how mining rewards are proportional to trading volume. Users with a higher trading volume will earn a higher daily mining income. Mining with StormGain over more extended periods can have a significant impact on one’s profit potential, showcasing huge capital inflows for the most active miners and traders.  

Cloud mining rewards are distributed every 30-40 minutes. Then, users are free to withdraw the funds to their trading accounts, within less than 72 hours. For newcomers, the first mined Bitcoin rewards will become accessible within 4 hours, a feat that is available nowhere else within the cloud mining industry. 

About StormGain

As part of its services, StormGain’s cloud mining service effectively removes all entry barriers to the mining market. Consequently, there’s no longer a need to invest in expensive mining chips that take up space, make noise, and consume electricity. Contract prices are inherently small so ongoing investments can translate to significant profits over the long term. Since the bitcoin mining service is readily available via the cloud, accessing it via desktop and mobile devices couldn’t be easier, with no hardware and time investments involved. 

Disclaimer: This is a paid post and should not be treated as news/advice.

Binance Coin Price Analysis: 18 May

SEEN HAUS: Bridging physical and digital art mediums

Anjali is currently pursuing her Masters, specializing in Mass communication, and journalism. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.

The new week has started with the ongoing drop of the cryptocurrency market as all coins from the top 10 list are in the red zone.

Top coins by CoinMarketCap

Bitcoin (BTC) keeps falling, and the decline over the last day is by 8%.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has bounced off the support at $42,000 and has almost tested the MA 200. The selling trading volume remains high, which means that the fall might not have ended yet.

However, in the short-term scenario, traders might expect growth to the area around $48,000 where most of the liquidity is focused.

Bitcoin is trading at $44,140 at press time.

Ethereum (ETH) is more bearish than Bitcoin (BTC) as the drop has constituted almost 9%.

ETH/USD chart by TradingView

Unlike Bitcoin (BTC), Ethereum (ETH) can still face a short-term decline where a bounceback can occur. The drop is accompanied by high trading volume, which means that bears have seized the initiative. In this case, the next zone at which bulls may show growth is the area of $3,000.

Ethereum is trading at $3,343 at press time.

XRP is less of a loser than Bitcoin (BTC) and Ethereum (ETH) as the price decrease has encompassed only 2% since yesterday.

XRP/USD chart by TradingView

From the technical point of view, XRP is looking much stronger than the majority of the top 10 coins. The altcoin has come back to the sideways trend after yesterday's drop. At the moment, neither bulls nor bears control the situation. If the buying trading volume increases, the retest of the resistance at $1.66 may occur soon.

XRP is trading at $1.46 at press time.

Cardano (ADA) has lost 10% of its price share over the last day.

ADA/USD chart by TradingView

Cardano (ADA) could not stay trading above the $2.20 mark, which means that bears have seized the initiative. The selling remains low. However, the retest of the support at $1.89 may occur soon if bulls cannot come back to $2.20.

ADA is trading at $2.04 at press time.

Binance Coin (BNB) is the top loser today as the price of the native exchange coin has gone down by almost 12%.

BNB/USD chart by TradingView

Binance Coin (BNB) has failed to keep trading above the MA 50 on the daily time frame. However, the selling trading volume remains low, which means that buyers may return BNB to the created mirror level at $562 very soon.

BNB is trading at $505 at press time.

DOGE has not shown such a big drop as the decrease is by 6%.

DOGE/USD chart by TradingView

DOGE has tested the support at $0.448 several times, which means there is a high chance to expect it to break out. Thus, the altcoin has been trading near the support for quite a long time, confirming the bears' mood. If a breakout happens, the next support is located in the area of the MA 50 that refers to the mark at $0.29.

DOGE is trading at $0.47 at press time.

The first dApp built on Cardano, Revuto gives you control of your subscriptions, leveraging recurring payments with REVU tokens and more DeFi services.

In few words, Revuto is an intuitive single-piece dashboard subscription management service thought out to save customers’ time, energy, and money. Revuto users can completely redefine the subscription management experience.

Are you tired of increasingly paying for subscriptions you either don’t use or underutilize? pay for Netflix or Spotify’s service only for the months you actually use it. If you suspect a subscription is stealing your money, block it in seconds without the need of unsubscribing.

Stake REVU to your subscription payments and forget about individually managing subscriptions. You pay for just one subscription and get the others via password swapping.

Going live in June 2021, get ready for Revuto!

From June onwards consumers can pay only for what they actually use. No more hidden extra charges. The Revuto app will allow you to:

Download the Revuto dApp for free, and start paying only a 4-7% protection fee for those subscriptions you approve to pay (five max).

Revuto is ideal for typical consumers (subscribed to typical entertainment, education, and other services).

For the more sophisticated prosumers or freelancers there is Revuto Pro: designed for business owners, pay a small membership fee if you are planning to have 15 subscriptions or above.

Basically, Revuto has no competition, there are no other subscription managers that combine tracking and actual control at the same time.

With Revuto you can manage your subscription economy, with features designed to fully control free trials, hidden fees, and auto-renewals.

Moreover, Revuto also allows you to manage your password sharing and swapping, for instance, you can swap your Netflix password with a friend and get HBO GO in return.

Once you downloaded the mobile app and added your subscriptions – Ravuto creates VDCs (Virtual Debit Cards) associated with each subscription, for you to manage among three options: Block/Snooze/Approve each one individually.

Ravuto is the only App on the market with the ability to schedule different automated responses to different subscription payments you may need to do monthly.

The fact that Ravuto had 1 Million signups in 14 days due to word of mouth expansion, cero marketing, explains the value and potential of this platform for itself.

Ravuto is free, simple, and gives you control over all recurring payments.

After a remarkable fundraise of 1.7m USD at its first private round with 1m signups for Revuto, the second public sale of the 1st native token on Cardano will be offered from May 18th at: https://crypto.revuto.com/

One million sign-ups in 14 days with cero marketing, via its referral program, is a clear demonstration of the value Ravuto brings to its users.

Revuto is ideal for Crypto Venture Capitals and retail investors, potential distribution partners in the fintech space.

It is like tokenizing your subscriptions, simply stake REVU and forget about subscriptions for life, paying only for those you explicitly approve.

The platform gives consumers a promise of complete safety, never pay again for what you don’t need, and only pay for what you plan on using.

If you are struggling with User Acquisition, join Revuto’s referral program and get thousands of users each day. Enable your users to pay for subscriptions with crypto by partnering with Revuto!

Revuto was founded in 2020 by 3 co-founders: Josipa Majic, consultor for banks and fintech industry, Majic owns a behavioral research company; Vedran Vukman, entrepreneur and active crypto investor and Marko Rukovnic, a former leader of AI/ML at Intuit, focusing on Mint.com and Quickbooks.

Revuto was born to make the «Are you sure you want to unsubscribe?» dialogue box obsolete.

No doubt, everyone willing to go through the multiple obstacles to unsubscribe is really sure to want it. Revuto’s developers understand and empathize with this misfortune.

Subscriptions management shouldn’t be so time-consuming, the ‘right to unsubscribing’ should be only a click away.

Today’s mainstream internet consumers would much rather subscribe to Spotify or Netflix than purchasing music albums and movies. Subscriptions were implemented to allow these users to test a product/service without fully committing to pay the full price upfront.

However, this ‘by subscription’ rising trend also has its downsides. The known ‘free trials’ with tricky cancelation policies end up in money losses and managing dozens of subscription services each month is too much of a waste of time.

Subscriptions steadily duplicate on a year-to-year basis. Definitely, it became part of everyday life.

Hence Revuto’s opportunity in this ever-growing digital market by subscription is to identify user’s obstacles and frustrations and offer in counterpart a clean and pleasant subscription management experience.

In a nutshell, Revuto is a decentralized mobile application. A simple subscription management dashboard that helps users control their subscription-related expenses.

Revuto targets mid to heavy digital services users with significant subscription-related yearly payments. These customer segments primarily consist of millennials, tech-savvy individuals, early tech adopters, crypto advocates, digital nomads, freelancers, etc.

Also, small to medium-sized businesses needing to simplify their SaaS-related subscriptions are Revuto’s target customers as well.

Revuto’s value proposition is to strengthen the growing subscription market by simplifying the payments process and protecting customers from losing money on hidden fees or mysterious subscription charges, usually for services no longer in use.

Revuto developed a decentralized mobile application or dApp that allows its users to approve, block or snooze subscription payments as they appear.

As users pay for their subscriptions via the Revuto dApp, users also earn rewards, receive cash returns, and can benefit from micro-loans in crypto.

This crypto micro-lending program benefits users with liquidity, allowing them to manage their resources, and maintain their key subscriptions secure.

The deployment of the Revuto new dApp in June will consist of two phases. During the first phase, Revuto only supports subscription-related payments, and solely relies on existing payment processors for crypto-to-fiat swaps and fiat transactions.

At this first phase, the Revuto Virtual Debit Cards will be used as the payment engine supporting fiat currencies, REVU tokens, and Cardano-native EURR stablecoin.

During the second phase, Revuto’s product offering will be larger by adding services and support for other regular payments such as utilities, cable and cell phone bills, or gym memberships.

In this second phase, Revuto will also use its own licensed payment processor, in order to further reduce system failure, decrease third-party involvement to reduce risk, and increase profit margins.

If users are willing to pay for their subscriptions with crypto, they will have to download Revuto’s digital wallet and approve automatic (pull) token transfers.

Revuto developed a simple and secure cryptocurrency wallet, that supports all Cardano-based tokens. Of course, it includes REVU and the EURR stablecoin.

The wallet also allows automatic pull payments. The overall objective is to promote and support the use of the Revuto wallet address among users, as the only source for subscription payments.

If users are willing to pay for their subscriptions with crypto, first they need to approve the REVU or EURR stablecoin from their wallet.

As an analogy to better understand, the process described would be like associating a bank credit card as the linked payment method for online purchases or subscriptions.

Once the user does the setup or programs the wallet for regular payments, said wallet will reference the smart contract, allowing the server wallet to allocate the funds (REVU or EURR) from the user’s wallet to specific subscriptions.

REVU token, Revuto’s utility token native to the Cardano blockchain, has two main purposes:

Using REVU tokens instead of fiat currency saves money. Revuto’s ecosystem is engineered towards sustainability despite any crypto market condition.

Revuto is setting the incentive structures to generate and enlarge the demand for REVU tokens, thus giving users the flexibility to manage and pay for their subscriptions.

After the token’s initial sale, the first wave of REVU tokens will be available directly in the Revuto dApp through the participation of crypto exchanges. The only available trading pair during the token sale will be REVU/ADA.

When the token sale ends, Revuto will work with crypto exchanges towards ensuring more trading pairs against REVU tokens.

With Revuto’s ERC-20 own converter, ERC-2o REVU tokens (wREVU) will be introduced on the Ethereum network to allow users to trade with other decentralized exchanges, like Uniswap.

Once Revuto’s platform is launched, and REVU tokens are distributed fairly, Revuto plans to introduce token staking and decentralized micro-lending/ borrowing platforms.

Here staking stands for locking up or bonding REVU tokens in a smart contract for a certain period.

There are two main benefits from staking:

The product benefits and rewards obtained from staking, users will need to stake their REVU tokens for 6, 12, or 18 months.

REVU token holders are given easy access to liquidity in small loans of EURR stablecoins through Revuto’s decentralized micro-lending and borrowing platform.

Therefore, REVU token holders are allowed to pay their subscription agreements on time without needing to liquidate their REVU holdings.

Through this, users still hold their REVU tokens and also gain staking earnings and rewards despite they may not have cash for subscription payments.

Users that borrow, will get newly minted EURR tokens (Cardano-native stablecoins backed by the Euro), which will later need to be paid back with fixed 20% interest.

When returning the loan, the EURR tokens are traded, and collateral returns to the borrower.

To learn more about Revuto, please click here for more information.

F inancial headlines have been dominated by cryptocurrencies in recent months, whether it has been Bitcoin hitting all-time highs or the rise of Dogecoin.

This article was originally written by MyWallSt. Read more market-beating insights from the MyWallSt team here.

Cryptocurrencies are very volatile and many people want to find alternative ways to invest without having as much exposure. Riot Blockchain (NASDAQ: RIOT) is a Bitcoin mining company that has been getting a lot of attention from investors recently. Is Riot Blockchain a good investment? 

Riot Blockchain has been well-positioned to take advantage of the significant rise in Bitcoin’s price over the past year, having mined 697 Bitcoins in 2021 by the end of April. This is significantly more than many of its competitors, with Marathon Digital mining 386 Bitcoins for the year up to May 6.

Riot Blockchain owns 1,771 Bitcoins, which are worth a total of $88.55 million at $50,000 per Bitcoin. The company forecasts that it will increase production by about 50% by the end of 2022 due to investments in additional ASIC miners. Its mining operations as a whole are very efficient. Its hash rate is very good, which is the determining factor in how much mining companies will get paid for their efforts. 

A lot of talk in recent months in the U.S. has been about the high level of fossil fuel consumption needed to mine Bitcoin. Treasury Secretary Janet Yellen spoke in February about the “staggering” amount of power that is needed. Tesla CEO Elon Musk also backtracked on May 13 regarding the EV company’s acceptance of Bitcoin as a payment method due to energy usage concerns.

It is getting harder to mine Bitcoin as every few years the reward for mining a Bitcoin is halved. Therefore, to maintain mining rates, more computing power is needed. Competition is also formidable, with Chinese miners accounting for approximately 70% of Bitcoin production.

The success of Riot Blockchain is also very closely linked to the price of Bitcoin, which will be a concern for investors in this volatile marketplace.

Finally, the likes of Ethereum are now challenging Bitcoin as the king of the crypto space. Only those who are confident of continuing significant rises in the price of Bitcoin will be looking at investing in Riot Blockchain for the long term. 

The Riot Blockchain share price exploded from less than $5 last November to almost $80 in February. This was on the back of the massive increase in the price of Bitcoin. Even the current price of $22 looks to be inflated.

The company’s fortunes are very closely linked to the success of Bitcoin and its current assets do not seem to justify its $1.9 billion market cap. You might need to be very bullish on the future of Bitcoin to invest at current prices and it would likely be a bumpy ride. 

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