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Bitcoin jumped to a nearly five-month high above $55,000 on Wednesday, extending its rally from the previous day as institutions jumped in to try to catch the wave.  

The cryptocurrency traded 7.6% higher at $54,873.02, according to Coin Metrics. Ether also rose 2.8% to $3,575.73.

Bitcoin rose as high as $55,499 earlier in the session. It's up 13% this week alone and 87% for the year.

The rally comes amid a series of small developments in Washington, D.C. that have provided some comfort to institutional investors keen to jump into cryptocurrencies.

"Regulatory uncertainty is what's still keeping investors out of the market and every time we get a step closer to regulatory clarity, you see this kind of reaction," Bitwise Asset Management chief investment officer Matt Hougan said. "It's the primary driver of next great bull market in crypto."

According to financial advisors surveyed by Bitwise, the number one thing preventing them from making allocations to crypto is regulatory uncertainty. Hougan said the majority result has been the same three years in a row.

On Tuesday, Securities and Exchange Commission Chairman Gary Gensler said in a hearing of the House Financial Services Committee that he has no plans to ban cryptocurrency, and that a ban would be up to Congress.

Gensler's comments mirror those made by Federal Reserve Chairman Jerome Powell, who also said Friday he has no plans to ban cryptocurrencies.

"You had every major regulatory agency in the U.S. this summer declaring that they needed to create a new regulatory regime around crypto," Hougan added. "That created a great deal of uncertainty in investors minds, they were hesitant to allocate not knowing what the range of possibilities would be. The reason we're rallying this week is that most extreme left tail of following the path of China was wiped from the market by both Jerome Powell and Gary Gensler."

Herd mentality

Genesis head of market insights Noelle Acheson said Wednesday's price action is different from previous ones this year and that all signs point to it being institutionally driven.

"Institutional investors move as a herd, they are momentum chasers," she said. "When they see this kind of momentum, they start to think, what am I going to miss? Is my performance going to be weaker than those of my competitors? Maybe I should pile into that."

She noted that Bitcoin has maintained its rank in the top five performing digital assets over the past 24 hours. That's something Acheson had never ever seen before, as top performers are usually smaller altcoins and DeFi assets. Bitcoin is the institutional onramp to crypto, and when it's one of the top performers, it's a sign the institutions are coming, Acheson said.

She added that with a sharp price jump, there tend to be several short positions that get liquidated, but that wasn't the case Wednesday.

"At one stage that price jumped 3.5% in a five-minute window, and without the liquidations, that says that that is big spot buying," Acheson said.

Another big signal came from the CME.

On Wednesday, it had the highest basis spread — the difference between bitcoin futures prices and the spot price — of any of the exchanges, Acheson said. She called it "unusual" because the CME basis normally trails that of the other exchanges. She added that CME is the exchange that offers the lowest leverage, so while it may not be the one used by traders or hedge funds that want leverage, it's the one traditional institutions often choose to use because it's currently the only crypto derivatives exchange with federal oversight.

The macro backdrop

At the same time, stocks were falling as concerns about rising rates, higher inflation, the state of the reopening and the debt limit dented investor sentiment. Bitcoin hasn't proven itself to be a safe-haven asset — its price has tanked with the stock market several times before — but many still see it that way and it was holding up amid Wednesday's equity market turmoil.

"The Janet Yellen discussion yesterday was a major reason to buy bitcoin," CNBC's Jim Cramer said Wednesday morning on "Squawk on the Street." "If you parse what she's saying and it becomes true, the dollar doesn't seem to be as valuable as crypto."

Yellen warned on Tuesday that inflationary pressures hitting the U.S. economy could last for several months and that the U.S. should fully expect a recession if the debt limit isn't lifted within two weeks.

"Thus far we've seen cryptos behave as a hybrid somewhere between a commodity and a currency," Morgan Stanley Wealth Management chief investment officer Lisa Shalett told "Squawk on the Street." So the "volatility has been 4x that of stocks."

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Cardano founder, Charles Hoskinson, will be touring Africa next week to support start ups using the blockchain to build local solutionsBI IndiaCardano founder, Charles Hoskinson, will embark on a tour of Africa next week to meet with startups working on projects using his blockchain.According to Hoskinson, Cardano and its native token ADA can provide Africa countries with a more stable monetary alternative to traditional banking.For Cardano, the competition in decentralised finance (DeFi) is heating up with more competitors joining the fray.Hoskinson’s strategy to push for Cardano in a relatively untapped market could help the blockchain survive the tussle.The 33-year old founder of Cardano and chief executive of Input Output Hong Kong (IOHK), Charles Hoskinson, will be crossing the entire length of Africa next week to meet with startups using his blockchain to solve local problems.

Just got back from Wyoming and I'm ready for this upcoming week. Heading to Africa soon- starting in South Africa a… https://t.co/EJiPvyRBcf

— Charles Hoskinson (@IOHK_Charles) 1633899315000 According to him, countries in Africa are in need of a safe and strong financial system. The continent’s young population and rising digital adoption coupled with the lack of any legacy monetary systems makes it a ripe destination for Cardano to thrive — or at least try.

“The first countries that hold national elections online that are credible, free, fair, and auditable are likely to be African nations. They will be the first countries to have an end-to-end digital identity and economy.”

Statement by Cardano co-founder, Charles Hoskinson, during his keynote address at the Blockchain Africa 2021 in MarchAdvertisementWhile the economic needs of Africa cannot be understated, Cardano has its own objectives to meet. It’s already caught in a battle against new competitors in the space of decentralised finance (DeFi) looking to be the next ‘Ethereum Killers’ and, now, Ethereum itself plans to wipe out Cardano’s primary competitive edge by becoming more energy efficient by next year. More recently, despite hosting the Cardano Summit in September — which included a slew of announcements including commercial offices specifically for Africa — the blockchain’s native token, ADA, has been struggling to stay in the green even as the global crypto market has been recovering. African countries have historically struggled with issues of infrastructure problems, which have resulted in financial services being less accessible to the common man. Cryptocurrency, arguably, could provide an alternative to traditional banking.Advertisement Cardano had the advantage of being the first platform to popularise the use of PoS. However, since its launch 2017, it’s not the only cryptocurrency bidding to be the ‘Ethereum Killer’. Others like Solana, Avalanche, Polkadot and others have also seen an increased market value, which usually indicates a proportional rise in user interest. Once Ethereum joins the band of being energy efficient, the climb will only get harder for Cardano. ADA may be fourth biggest cryptocurrency on the market as of today, October 14, but this is after it lost its coveted third ranking during September’s FUD — fear, uncertainty and doubt. AdvertisementMoreover, ADA has a gap of over $300 billion to make up for if it plans on being as big as Ether. The larger question is one of survival. One cryptocurrency doesn’t need to beat out another in order to exist in the future, but it does need mass adoption — both in terms of users and developers — to stand against the test of time. SEE ALSO: Cryptocurrency investment 101 — here’s how to do your own research (DYOR) and invest in the right digital asset Ethereum 2.0’s first upgrade will happen this month — a step closer to denting the competitive advantage of ‘Ethereum Killers’ China crypto crackdown is far from over — it wants to add Bitcoin mining to the list of ‘eliminated’ industries and over 20 companies have already moved out Advertisement{{}} NewsletterSIMPLY PUT - where we join the dots to inform and inspire you. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.CAPTCHA:

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TL;DR Breakdown

Ripple price analysis is bullish today.XRP/USD saw a strong spike lower late yesterday.Ripple is ready to reverse.

Ripple price analysis is bullish today as a quick spike lower took the market below the previous low. However, XRP/USD saw bullish momentum return quickly, leading it back towards the $1.10 mark, indicating strong buying pressure at lower prices.

The overall market traded with mixed results over the last 24 hours. The market leader, Bitcoin, gained 2.18 percent, while Ethereum lost 1.28 percent. Meanwhile, Dogecoin (DOGE) is among the best performers, with a gain of 8.4 percent.

RelatedPosts Ripple Price Analysis: XRP swiftly spikes to $1.09 Ripple Price Analysis: XRP slowly moves higher, will the $1.20 resistance be reached today? Ripple Price Analysis: XRP set to test $1.20 after a higher low was established yesterday Ripple and British firm collaborating in country’s futuristic CBDC project Ripple price movement in the last 24 hours: Ripple sets lower low, followed by strong buying pressure

XRP/USD traded in a range of $1.03 – $1.14, indicating strong volatility over the last 24 hours. Trading volume has increased by 2.04 percent and totals $3.52 billion, while the total market cap trades around $51.1 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP set to push higher today?

On the 4-hour chart, we can see Ripple price quickly returning to the $1.10 overnight, indicating strong bullish pressure forming.

Ripple price action has seen a strong start of the month, with a gain of over 35 percent to the current swing high of $1.24 set on the 10th of October.  However, from there, bearish momentum returned, pushing XRP/USD to the $1.066 mark.

Over the following days, Ripple slowly recovered, indicating we might see further highs set. However, XRP peaked at $1.18 on the 16th of October, leading to another move lower.

Yesterday, the Ripple price slowly declined until the $1.10 mark was reached. From there, the bearish momentum increased, resulting in a spike to $1.02. Bullish momentum did take over since sending XRP/USD back towards the $1.10 mark.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as any further downside was rejected over the last 24 hours, leading XRP back to the $1.10 mark. Therefore, we expect XRP/USD will continue higher later today.

While waiting for Ripple to move further, read our guides on Metaverse wallet, Fiat wallet reviews, and NFT art finance token.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lapin Related Posts Ripple News Ripple Price Analysis: XRP swiftly spikes to $1.09 Oct 19, 2021 08:08 am Ripple News Ripple Price Analysis: XRP slowly moves higher, will the $1.20 resistance be reached today? Oct 17, 2021 11:01 am Ripple News Ripple Price Analysis: XRP set to test $1.20 after a higher low was established yesterday Oct 16, 2021 11:21 am Ripple News Ripple and British firm collaborating in country’s futuristic CBDC project Oct 15, 2021 02:21 pm Ripple News Ripple Price Analysis: XRP/USD pair is bearish for the next 24 hours Oct 15, 2021 06:19 am Ripple News Ripple Price Analysis: XRP rises slightly above $1.10 support to test $1.13 Oct 14, 2021 04:41 am FOLLOW US Cardano Price Prediction 2021, 2023, 2025 October 11, 2021 Dogecoin to go blank after hitting $1 – Mark Cuban May 6, 2021 Dent Token Prediction for 2021 – 2025 and beyond September 28, 2021 XRP Price Prediction 2021, 2023, 2025, 2030 October 11, 2021 New Microsoft Bitcoin mining system set to transform BTC mining The shrinking XRP community saga How the death of Kim Jong Un and Bitcoin selloff is connected Bitcoin price and stock market correlation is astonishing Why Cryptocurrencies are the Future of Gaming October 20, 2021 ETF Liquidity Provider – Best Way to Find Quality Partner October 20, 2021 Filecoin Price Analysis: Filecoin still struggling with bearish momentum around the $63 price range October 20, 2021 Bitcoin Cash Price Analysis: BCH shows signs of recovery, aims for $620 support October 20, 2021

In spite of last week’s selloff over renewed crackdown by China, the world’s second most powerful economy , Bitcoin and most crypto assets have recovered considerably; however, the market may remain range-bound for a few days.

Accordingly, crypto markets have absorbed news-based selling, and long-term investors will likely accumulate shares during the dip.

While market participants wait for the infrastructure bill to be voted on this week, which began yesterday and will be concluded in a few days time, suggests a rally may have to wait. HODLers will not be shaken by the broad definition of a broker, but it may affect markets in the short-term.

Since a few days ago, the pioneer crypto asset has oscillated between the 100-day simple moving average of $41k and the 20-day exponential moving average of $45k, a sign that bulls are buying on dips and short-sellers are selling on upsides.

Considering the down sloping 20-day EMA and relative strength index (RSI) below the midpoint, a downward trend appears most likely. Selling could intensify if bears sink and sustain the price below the 100-day SMA.

There is a possibility that Bitcoin could drop to $37.3k, and it may slip to $30k if that level also breaks.

When the price rises above the moving averages and breaks above the current level, the bearish view will become invalid. In this way, the bulls would appear to be on the offensive. In the following stages, the pair could rally as high as $48.5k and then as high as $53k.

In that case, we will examine the Entities Net Growth metric, a measure of the percentage difference between the number of new on-chain entrants who are holding new coins and the number of exit users.

As we see here, new entities gain ‘floor value’ with every market cycle. A wider audience has been attracted to Bitcoin over time, as well as a larger base of HODLers who purchase it consistently. Moreover, bull markets tend to see a steep rise in new participants, which tend to slow down after tops.

The current market size is around 13k new entities a day, which is above the 2018-20 bear market baseline.

As a result, the majority of market participants appear to be HODLers and accumulators.

By Michelle Toh, CNN Business

Updated 1312 GMT (2112 HKT) September 21, 2021

JUST WATCHEDChinese property giant Evergrande is on the brink of defaultReplayMore Videos ...MUST WATCH (16 Videos)Chinese property giant Evergrande is on the brink of defaultJamie Dimon blasts bitcoin as 'worthless'Crypto experts explain how to regulate the industryWill cryptocurrency replace the dollar? Scott Galloway explainsChina's cryptocurrency crackdown intensifiesEl Salvador divided over making bitcoin legal tenderFeeling crypto FOMO? Scammers are counting on itThis $22.5M condo could be the most expensive home ever paid for in cryptoNovogratz: Sports will make NFTs broadly accessibleBitcoin miner CEO: Industry is moving toward carbon neutralEthereum's 27-year-old founder says we're in a crypto bubble. Did it just burst?Cryptocurrency expert: Elon Musk knows 'virtually nothing'Gary Vaynerchuk: Blockchain and NFTs will change our livesConsenSys CEO: Crypto is crossing the chasm into popular cultureNFTs have completely transformed these digital artists' livesBitcoin has an energy problem

Hong Kong (CNN Business)Bitcoin is falling as fears of the Evergrande crisis sweep through global markets.

The digital currency has dropped 5.7% in the last 24 hours, and was trading at $42,955 per coin as of 2:43 am ET on Tuesday, according to cryptocurrency tracker Coindesk. Earlier, it was down as much as 12%.Other cryptocurrencies are tumbling, too. Ethereum and dogecoin have each declined 4.4% and about 6%, respectively, in the past 24 hours. The fall followed a major drop in US stocks on Monday, as Wall Street's fears turned to China. Investors have been uneasy over the deepening crisis of Evergrande, a massive Chinese property conglomerate that's at risk of defaulting.Read MoreIt was the worst performance since May for the S&P (SPX) and the Nasdaq (COMP), while the Dow (INDU) logged its worst day since July. Stocks tumble as Wall Street's fears turn to ChinaExperts have characterized Evergrande's struggles as a major test for Beijing, with some worrying about whether the company risks creating China's Lehman Brothers moment. While other analysts have said it's far from certain that Evergrande's crisis will become a similarly far-reaching event, the crisis has sent shockwaves across the world.The property firm, which is struggling to manage its $300 billion mountain of debt, was supposed to pay the interest on some of its bank loans Monday, according to Bloomberg. Evergrande did not respond to a request from CNN Business for comment about those payments. Interest on two of its bonds worth more than $100 million is also due later this week, according to Refinitiv. Shares of Evergrande fell 5.7% in Hong Kong on Tuesday, extending Monday's losses.Even though the company primarily serves mainland China, investors around the world are worried. The massive amount of money borrowed by Chinese companies has long been considered a looming threat to market stability. Now investors fear the exposure that banks might have to Evergrande and companies like it. US banks fell on Monday, with Goldman Sach (GS) and JPMorgan (JPM) among the Dow's worst performers.The issue had already weighed on Hong Kong markets earlier in the day, as Chinese banks, insurers and other real estate companies were slammed.5 things to know about Evergrande, the Chinese business empire on the brinkEdward Moya, senior market analyst of the Americas at Oanda, said on Monday that bitcoin was no different from other assets."The fallout from the Evergrande is putting a tremendous dent in risk appetite that is sending everything lower," he wrote in a note to clients. Moya noted that cryptocurrencies had performed well this year, "despite all the volatility.""So it should not surprise Wall Street they are the first asset sold in the beginning of China-driven market selloff," as investors aim to cash in, he added. Others have taken the occasion to double down. Nayib Bukele, the president of El Salvador who is known for his bullish stance on bitcoin, tweeted Monday that "we just bought the dip." The country purchased 150 bitcoins, and now holds 700 coins, he added.Earlier this month, Bukele announced that El Salvador had become the world's first country to adopt the digital currency as legal tender.-— Anneken Tappe and Laura He contributed to this report.

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Now that smart contracts have launched on Cardano (ADA), what’s been happening with the “layer 1” crypto?

Plenty. At least, plenty behind the scenes of its current stagnant price action.

With a huge and loyal community of HODLers validating its network, Cardano is a beast of a blockchain. And this is reflected in its overall market cap, which stands at a bit over US$67 billion, just recently pipped by Tether (USDT) at the time of writing.

This makes the project the highest valued proof-of-stake blockchain in existence, seeing as Ethereum (ETH) is still in the process of transitioning from its current proof-of-work consensus to becoming a full-on staking chain. And that’s something which may not happen till early next year at this stage.

But Cardano, in the meantime, has become one of the most decentralised cryptos around – certainly among the big-cap smart-contract platforms – with 71.91 per cent of its current total supply staked by holders, earning them around five to eight per cent APY, on average, on their ADA.

And at the current price, over 70% of the addresses currently holding ADA are in a state of profithttps://t.co/8ME8STegu5 pic.twitter.com/MnghWKB66X

— IntoTheBlock (@intotheblock) September 27, 2021

A passionate and growing community, strong fundamentals, a building ecosystem and a reputation for some of the most rigorously tested, scientifically peer-reviewed technology in the business… it all makes Cardano increasingly attractive to big investors looking for solid bets a short drop down the market cap list from Bitcoin and Ethereum.

Here’s just some of what’s been happening with Cardano in recent months and weeks, some of which was discussed at length at the Cardano Summit 2021, held a few weeks ago in late September.

A Cardano ecosystem migration – 100 Ethereum projects?

The Alonzo hard fork, completed in early September, released the project’s loooonnnng-awaited smart-contract capability into the wild – and thus, the ability to build dApps (decentralised applications) on top of the layer 1 blockchain.

Cardano is now swiftly seeing its ecosystem grow and build out into some of crypto’s brightest sub-sectors, including DeFi, oracles, gaming, NFTs and more.

It’s still a long way from making a significant dent in the network-effect advantage that Ethereum possesses, but in expansion terms, it’s beginning to rival other building layer 1 ecosystems, such as Solana, Polkadot and Avalanche.

In March, Cardano founder Charles Hoskinson told Bloomberg that it’s his goal to “run countries on this blockchain”. The man thinks big.

And, while Hoskinson said he doesn’t care about the likes of “Uniswap, CryptoKitties and other things”, he did say back then that at least 100 companies currently on Ethereum were “in the pipeline” to transition over to Cardano’s blockchain.

Cardano has in-built porting functionality designed to allow Ethereum-built smart-contract applications to transition over with relative ease.

Into Africa: Cardano’s Ethiopian partnership

And speaking of running countries on Cardano, Hoskinson and his team at IOHK (Input Output Hong Kong), as well as the project’s commercially focused arm, Emurgo, have a strong focus on building crypto and blockchain-technology adoption across the African continent.

Cardano is unequivocally one of the leading blockchains at the forefront of an African crypto-tech push.

In one of crypto’s most underrated but significant partnerships, IOHK and the Ethopian government announced earlier this year they are working together to track the performance of school students in the country.

The partnership involves five million secondary school students and 750,000 teachers, all using Cardano’s Atala PRISM decentralised identity solution to create tamper-proof student records and help identify areas of educational under-achievement.

It’s a big deal for blockchain adoption – but perhaps more likely a longer game in terms of price-moving action for ADA holders.

There is good potential for consequential transactional volume to be driven into the network on the back of this in the long run, however, and it’s just one of several partnerships IOHK and Cardano has brewing on the African continent.

— ADA whale (@cardano_whale) October 10, 2021

In-built scalability: ‘Hail Hydra!’

While the likes of Arbitrum and Optimism are independently built “layer 2” scaling solutions that are designed to help optimise the Ethereum network as it continues to grow and expand, Cardano has its own scaling solution baked into its protocol as part of the blockchain’s overall design.

It’s called Hydra, and it’s natively built to deal with any issues that arise from attempting to run a seamless high-throughput blockchain network.

As a recent IOHK blog post explains, Hydra is designed to help strike the balance required between maintaining low network transactional fees to satisfy users, and keeping them at a level that “deters potential Denial-of-Service (DoS) attacks”. The solution is also designed to ensure the network avoids storage-based issues as transactional history logs grow over time.

If that’s all getting a bit technical, no worries. Just know that Cardano has an in-built solution to help its blockchain scale as it grows, and it’s named after a multi-headed mythological beast. Cool.

Think of the body of the hydra beast as Cardano’s main chain. Then think of all the heads being able to offer 1000 transactions per second of throughput. And think of each Hydra head representing a validator/staking pool on the network. If Cardano has, for example, 1000 of these heads, in theory, its blockchain will be able to scale up to handle one million transactions per second. And that is… fast.

Presuming Hydra, which is still being tested at the time of writing, is released without a hitch, it could be a potentially groundbreaking development in the world of blockchain. You can read more about it here.

Cardano stablecoins

Stablecoins are a key component of decentralised finance – so no surprises that some have now sprung up within the Cardano ecosystem.

Djed (pronounced “jed”) is one such enterprise, which self describes on its website as “a crypto-backed algorithmic stablecoin that acts as an autonomous bank developed by IOG [Input Output Global] and issued by COTI.”

COTI, by the way, is a decentralised payments platform that has partnered with Cardano this year to act as a payment rail for the ADA Pay application.

As just revealed during the @CardanoStiftung summit by none other than Charles Hoskinson, COTI will become the official Djed issuer, Cardano's new stablecoin!

Read more: https://t.co/omAxVZUOow$COTI $ADA @IOHK_Charles pic.twitter.com/yschC9wdbd

— COTI (@COTInetwork) September 26, 2021

Algorithmic stablecoins use smart contracts to maintain price stability and work effectively and smoothly within DeFi transactions, and these are ultimately the core aims of Djed.

You can read more about it here, and learn why IOHK calls it the “first stablecoin to use formal verification to eliminate price volatility”.

There’s also another interesting stablecoin project designed for Cardano that’s just been announced by the DeFi liquidity protocol MELD.

Interesting, because this one’s backed by gold, stored securely in a vault, and then tokenised and fractionalised.

It relies on gold’s generally stable value, and is enabled as part of a three-way partnership with Tingo Holdings, Nigeria’s largest mobile network, and Ubuntu Tribe, an ethical crypto company that tokenises natural resources.

As part of this partnership, there will also be a gold-backed stable coin to the protocol.#CityAMSummit @CityAM_Crypto #Cardano #CardanoCommunity @tingomobileng #Blockchain pic.twitter.com/G6zqggzBLF

— DT (@I_Am_DTaylor) September 30, 2021

More major partnerships: Dish, Chainlink, Rival gaming

Some other pretty significant partnership bombshells were dropped at the Cardano Summit 2021. Here are three of them…

• The Ethereum rival has cut a deal with major US TV and wireless service provider Dish Network to integrate the Cardano blockchain into the widespread telecom business. Cardano will also apparently be providing its digital identity services to Dish Network consumers.

— Charles Hoskinson (@IOHK_Charles) September 25, 2021

• Cardano has also partnered with esports and gaming platform Rival to develop “agnostic NFT marketplaces, fan rewards, and more for Rival and its partners”, according to a recent press release.

• Chainlink and Cardano, together at last. The layer 1’s developer IOHK has now teamed up with crypto’s leading “oracle” to help Cardano developers build smart contracts for secure DeFi applications.

— Input Output Media (@IOHKMedia) September 25, 2021

The Cardano ecosystem, by the way, does have at least one other oracle solution that we know of, called Charli3 (C3), sitting all the way down at number 924 on the CoinGecko list, with a market-cap valuation of just US$17.5 million at the time of writing.

You’ll find it somewhere on the following overview. This is just a screenshot of a clickable version maintained by the Pool Germany ADA stake pool, which can be viewed in all its interactive glory here.

And, for a more focused look at the Cardano NFT landscape, this next chart comes courtesy of Cardano Daily. This will most likely be subject to change pretty swiftly, as nonfungible token projects are being created and minted thick and fast on every available blockchain, and Cardano is no exception.

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SAN MIGUEL, El Salvador — Bitcoin’s proponents dream of a financial system largely free of government meddling. But the first time that cryptocurrency became a national currency, it was imposed on an unwilling population by an increasingly authoritarian ruler using a secretive state-run system.

The surprising announcement last month that El Salvador had adopted bitcoin, the world’s largest cryptocurrency, as legal tender caught its population by surprise, and made the poor, conservative Central American nation an unlikely bellwether of a global technological transformation.

The outcome of the uncharted experiment could help determine whether cryptocurrency delivers the freedom from regulation that its proponents envision — or whether it becomes another tool of control and enrichment for autocrats and corporations.

“We’re now at a turning point in cryptocurrency,” said Lane Rettig, an entrepreneur and former senior programmer at the Ethereum Foundation, an organization that supports the technologies behind Ethereum, the world’s second-largest cryptocurrency. “The same technology of freedom could become part of a new technological dystopia.”

The threat of government and corporate subversion of cryptocurrency’s libertarian roots echoes, in part, the evolution of digital technologies like the internet and social media, Mr. Rettig said. Built on the democratic premise of liberating information and connecting people, these innovations have proved vulnerable to censorship, manipulation by propagandists, and control by profit-driven corporations, he said.

And now, after years of largely ignoring cryptocurrencies, governments around the world are scrambling to respond to the mushrooming $2 trillion industry as it begins to disrupt banking and seep into everyday lives.

In June, El Salvador’s 40-year-old, populist president, Nayib Bukele, announced that he would make bitcoin — a highly volatile financial token operated by a decentralized community of technology entrepreneurs — the national currency, on a par with the current legal tender, the U.S. dollar.

“This will generate jobs and help provide financial inclusion to those outside the formal economy,” Mr. Bukele said in a video address. He also said it would turn the country into an innovation and tourism hub.

The idea stemmed from a social experiment started in 2019 in the Salvadoran surfing town of El Zonte, where grass roots activists used a bitcoin donation to create a community network of cryptocurrency payments. The project, Bitcoin Beach, overcame the residents’ distrust by integrating the currency into everyday lives, using bitcoin to reward students for doing homework and to provide pandemic aid to families.

“Our strategy to create an ecosystem where bitcoin would work is based on two elements: time and trust,” said Luis Morales, a Bitcoin Beach organizer.

Both elements are conspicuously missing from Mr. Bukele’s strategy.

According to a poll conducted by El Salvador’s chamber of commerce, businesspeople, international organizations and 93 percent of Salvadoran people opposed the adoption of bitcoin.

Nonetheless, using Mr. Bukele’s control of the country’s congress and courts, on Sept. 7, the government made all vendors legally obligated to accept bitcoin — a move that triggered El Salvador’s largest street demonstration in years and dented Mr. Bukele’s tremendous popular support.

“We all understand that cryptocurrency is the future, but you can’t foster it by forcing everyone to use it,” said Jorge Hasbún, the head of the commerce chamber.

To promote the currency’s use, the government has created a cellphone application — Chivo Wallet — which allows citizens, including many who do not have bank accounts, to send and receive bitcoin-denominated claims, convert them to dollars and withdraw them from special A.T.M.s. It also gave $30 in bitcoin to every Salvadoran who adopts the wallet.

But the app has been plagued by technical failures, and many A.T.M.s ran out of money as people rushed to convert bitcoin holdings into the more stable dollar bills.

The government also said it has set aside $150 million, equivalent to 12 percent of El Salvador’s public investment budget last year, to ensure bitcoin’s free convertibility into dollars. Officials offered no explanation on how they will prevent the use of bitcoin for money laundering, or what would happen if the conversion fund ran out of cash.

Despite shortages of public funds, Mr. Bukele announced in a series of Twitter postings that his government bought about $30 million worth of bitcoin last month. When the cryptocurrency’s price temporarily plunged afterward, he announced new purchases, their purpose unexplained.

Nearly a month after the introduction of bitcoin, it remains unclear where the dollar funds and the bitcoin held by the government, or reflected in Chivo Wallets, are, or what they are worth.

Although all bitcoin transactions carry a code to ensure transparency, Mr. Bukele has treated the bitcoin policy as a state secret. He has classified all information related to Chivo Wallet, which was created with taxpayer funds, but is run as a private enterprise by undisclosed individuals.

“He is playing Russian roulette with public money,” said Ruth López, a Salvadoran lawyer at the nonprofit organization Cristosal, which sued the government over the Chivo Wallet’s financing irregularities.

Mr. Bukele, his ministers of economy and finance, the trade secretary, the attorney general, the head of the congressional economic committee, the financial regulator, the central bank and the state bank financing the bitcoin fund all declined to comment.

On the streets, the policy’s impact has been mixed.

Mr. Bukele says three million Salvadorans, or more than half of all adults, have installed Chivo Wallet, but in reality, the use of bitcoin remains limited. Most fear the cryptocurrency’s extreme price volatility, say they lack technological skills or distrust the government’s intentions.

But the cryptocurrency has allowed at least some Salvadorans without bank accounts to access digital payments, invest savings or boost earnings, and its use is gradually picking up among the youth.

In the provincial city of San Miguel, the Argueta Pérez family said sales of streetwear from their market stalls rose after they put up signs saying they accept bitcoin.

Nearby, Laura Trejo, 29, a student, lined up outside a Chivo A.T.M. to withdraw remittances sent by her uncle, without paying a commission. Next to her, José Ercidio, 50, a vegetable vendor, waited his turn. He said Chivo Wallet had allowed customers to send him small sums, boosting sales.

“It’s a benefit for the poor and humble people,” he said.

Last month Mr. Bukele, in an apparent joke targeting critics, changed his Twitter profile to read, “the coolest dictator in the world.” But, as he rapidly consolidates power and cracks down on opponents, there are growing concerns in El Salvador that Mr. Bukele’s adoption of bitcoin was motivated more by his quest for control — and desire to avoid international pressure — than by his desire for financial inclusion.

As Mr. Bukele has tightened his control on the nation, relations with the Biden administration have deteriorated, making Mr. Bukele increasingly concerned about Washington’s outsized influence on the country’s economy, said two Salvadoran officials familiar with the president’s thinking. They spoke on condition of anonymity to avoid reprisals.

For example, remittances sent by immigrants, primarily from the United States, account for a quarter of the country’s gross domestic product. By building a parallel financial system based on cryptocurrency, Mr. Bukele could bypass the American banking system and keep the remittances flowing into the state-run Chivo Wallet in the event of future economic pressure from Washington, the two officials said.

Other countries already facing sanctions, including Venezuela and North Korea, are believed to have used cryptocurrency to avoid oversight.

“For the government, bitcoin is about having a Plan B,” said Ricardo Castaneda, a Salvadoran public policy expert.

The adoption of bitcoin has also deepened Mr. Bukele’s impasse with international lenders. His talks with the International Monetary Fund over a crucial $1 billion loan have stalled, as the lender became increasingly concerned about the deterioration of the rule of law and bitcoin’s threat to financial stability.

Lack of I.M.F. funding has in turn blocked other traditional sources of funding, complicating Mr. Bukele’s populist spending programs. El Salvador’s bonds fell sharply after the adoption of bitcoin as Wall Street became concerned over Mr. Bukele’s ability to pay existing debts.

The government is now exploring ways to issue sovereign bonds tied to bitcoin and to create new bitcoin with geothermal power. Both moves could create an alternative source of funding that bypasses traditional lenders demanding accountability, experts said.

“What Bukele is doing is not bitcoin, but a centralized, state-run banking system,” said Mario Gómez, a Salvadoran data expert who was detained by police and held for six hours last month on unspecified accusations of financial crimes after organizing social media seminars about cryptocurrency risks. “It is the antithesis of the principles of bitcoin champions.”

The Ethereum 'Merge' will dent the competitive advantage of 'Ethereum Killers'BI India Altair, Ethereum 2.0’s first hard fork, is expected to come into effect by the end of the month — just before Halloween kicks off. It is the first step towards getting developers and coders ready for the ‘Merge’ — the point where the original proof-of-work Ethereum blockchain will transition to Ethereum 2.0’s proof-of-stake consensus mechanism.

Alpha leak: Don't buy any more mining hardware #ethereum #mergeLeft: Geth running post-mergeTop Right: Lighthous… https://t.co/4AfLlGqAVY

— MariusVanDerWijden (@vdWijden) 1633407998000 The move is expected to reduce Ethereum’s power consumption by 99.9%. While this is good news for Ethereum and its native token Ether (ETH), which is the second largest cryptocurrency globally by market cap, it’s not good news for the likes of Solana, Cardano, Avalanche and others. AdvertisementThese players are often dubbed to be ‘Ethereum Killers’ because they claim to do the same things Ethereum can, but better. In the world of crypto that means cheaper and faster. However, once Ethereum 2.0 kicks in, that may no longer be the case, denting their competitive advantage. Why is Ethereum 2.0 a threat to ‘Ethereum Killers’? Ethereum was first on the crypto scene with smart contracts — agreements that get executed automatically whenever the prerequisite terms and conditions are met. Ethereum’s native token, Ether (ETH), is the second largest cryptocurrency globally by market cap. This means that its adoption — popularity and usage among users — is second only to Bitcoin. All in all, it has the first mover advantage.Advertisement Among three aspects of the blockchain ‘trilemma’ — decentralised, scalability and security — Ethereum already hits two, but scalability that thus far eluded the platform. Simply put, if there are too many users on the blockchain, it gets increasingly expensive to buy and sell things. This was seen during Time Magazine’s non-fungible token (NFT) launch where some users ended up paying 30 times the original price of the NFT. AdvertisementCardano, Solana, Avalanche and others claim to address the issue with PoS. But, if Ethereum moves to PoS as well — which it is — what will set the other blockchains apart? Without PoS as a competitive advantage over Ethereum, they’re unlikely to have as many developers flock to their respective blockchains — another facet where Ethereum is miles ahead. Ethereum has thousands of developers. Most others only have a couple of hundred. The only thing that is left to set them apart is the target market. For example, Ethereum is mostly focused on the West. Cardano and Solana, on the other hand, are going after the developing world. Advertisement The question remains whether there’s enough ground for everyone to share because by 2022, they will all be on the same footing. {{}} NewsletterSIMPLY PUT - where we join the dots to inform and inspire you. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.CAPTCHA:

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BlogsFeatured newsNews January 23, 2018 By Globalcoin 4661Views 4Comments Spread the loveIn the sea of different cryptocurrencies, we are always looking for those coins we could consider to be promising, both by progress in price and by functionality. And, what is a better way of finding the right coins to invest in than analyzing coins individually? That is why we are going through all facts and features related to Dent coin to try and conclude whether this coin is worthy of attention or not (so much). Everything you need to know about Dent Dent coin was launched by a company, and not an individual. The companys name is DENT Wireless Limited. The purpose of creating DENT was the idea of repurposing data, and the way data is being stored, shared, paid for and sold. Dent is focused on becoming the first mobile data cryptocurrency where Dent developers are hoping to transfer coin operations to mobile usage, that way disrupting the by far known system of the global telecommunications industry, aiming at revolutionizing the way people are exchanging data. The idea is to monetize data and even change the way data is being shared or donated. All operations regarding Dent are done within Ethereum blockchain nodes, which immediately gives the green light for Dent being accepted by a larger network. Ethereum already has a couple of external currencies enabled to operate within the Ethereum network besides from its official currency ETH. We presume that each accepted currency in the form of different tokens with different purposes and ideas are chosen carefully by the Ethereum developers, which gives us an incentive that Dent might represent a coin worthy of holders and investors attention in general. Dent uses Ethereum for exchanging, selling and even donating data and what is revolutionary about this digital asset is the fact that Dent is seeking to transfer all operations to mobile devices so that the users would be able to make transactions and manipulate data by using mobile devices. So, we already have two vote ups for Dent one going to the enabled operations through Ethereum, the second biggest coin on the market with a solid second place on the global coin ranking list, and the second going to the way Dent is operating with data by using mobile devices. But, how well does Dent place its purpose in practice? So far, Dent was progressing slowly but steadily, establishing mobile connectivity with India and Brazil, which drew 40 million users to Dent. This seemingly small step brought a larger market cap, also bringing more DENT coins in circulation and consequently raising the price per unit that this coin has. The next venture is establishing connectivity of crypto and mobile data exchange to the United States and Mexico, which should increase the number of users from millions to billions in case the connectivity is established and the crypto-coin well accepted. If this case scenario is to happen, Dent coins price would also experience a substantial increase, making this currency more valuable on the market. Now, as far as the price concerned, Dent experienced a slight downfall in the last 24 hours, going almost -4% down with the price. The coin is currently holding the 68th spot on the global coin ranking list, which is a great success for a small token such as Dent. For now, the most realistic scenario is that this coin will reach the price of one dollar per unit in the course of the next following months based on the current pace Dent coin has. Ifeverything goes as planned for Dent; this coin willsurelygo to the moon as Doge Coin holders like to say when their favoritecoinis hitting the roof with price increases. We will be updating our subscribers as soon as we know more. For the latest on cryptocurrencies, sign up below! Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover.Please conduct your own thorough research before investing in any cryptocurrency. Image courtesy of coinmarketcap.com Spread the love

Since the huge development of cryptocurrency, Dent has an important role on it. Dent is the block chain that has purpose to build the global marketplace. The aims in the future will give opportunity for everyone to purchase and to sell the unites of mobile data. Besides, the team of Dent also deliver chances for users to create better and new opportunity for the Telco’s.

Dent was founded in 2014 by Tero Katajainen and this block chain is based in the country of Hong Kong. With the kinds of features inside it, Dent becomes one of trusted block chains today.

You can basically use debit card, credit card, or even PayPal to buy the DENT (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the DENT as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to DENT. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

That’s the first step in buying DENT, once you get your Bitcoin or Ethereum, you can continue to the next step.

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH with DENT:

Coinswitch is not exactly an exchange service, but more like an aggregator system that works with similar mechanisms as established exchanges. They allow the investor to get in touch with different exchanges and get all the information they need about the deals they offer for their listed digital currencies.

IMPORTANT! Once you are registered to any of the above, find the BTC/DENT or ETH/DENT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your DENT (DENT) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

LEDGER NANO-X

TREZOR MODEL-T

Also Read:

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the DENT. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

You can’t buy DENT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to DENT. You can buy BTC/ETH with skrill by using these exchanges::

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/DENT and begin the transactions.

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/DENT trading pair.

The cheapest way is to use bank account to buy Bitcoins first or to buy the DENT right away. The fastest way is to use a credit card but you will then be charged higher fees.

Once you have purchased the DENT, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

Find a crypto exchange which allow pairing DENT with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a DENT is to buy it from a reliable exchange.

Dent delivers a new approach about the field of cryptocurrencies, which will ease individual to purchase or to sell coin. After developing Dent marketplace, during 2017 – 2018, the team of Dent provided mobile application for iOS (2017) and Android (2018). The occurring of mobile application of Dent offers easiness in transacting coin.

This week, BiC takes a look at the three best performing altcoins in the top 100. ANKR, DENT and BTMX managed to gain the most in price.

The week ended strong for both Bitcoin and altcoins, as the recovery from the earlier weeks’ bearish sentiment shifted. Bitcoin’s price recovery has gifted altcoins with some breathing room. 

The biggest gainer of the week was ANKR with a massive 185.5% rise. The project broke into the top 100 this week and has since continued to gain in price. Coinbase recently announced it would be listing ANKR on its exchange. The price has been climbing ever since. Coinbase is the largest cryptocurrency exchange in terms of volume in the United States making it the go-to exchange for new cryptocurrency traders in the country. 

DENT had an incredible week as it accelerated itself into the top 100. The gainer enjoyed an 84.8% gain in price during the last week. The increase in price comes from the recent announcement that Samsung would be partnering with DENT. As announced on the DENT website, “We have partnered with Samsung Blockchain to make buying of DENTs in your app using other cryptocurrencies even more easy. Say hello to the Samsung Blockchain Keystore integration for the DENT App!”

Bitmax token takes home the third spot following its surge up the leaderboard. BTMX enjoyed an 83.3% gain over the course of the week. Being narrowly beaten out of second place by DENT. The bullish sentiment behind BTMX relates to the company’s latest announcement. Bitmax announced earlier this week that it would be rebranding the crypto exchange. Bitmax will now be known as AscendEx. The rebranding event seems to have turned the community sentiment around the project to super bullish. 

According to Coingecko, AscendEx is currently doing nearly $500 million in daily volume. 

The week ended with roughly 35% of the top 100 seeing gains over the course of the last seven days. It seems that some of the altcoin market is pumping due to news events. The rest of the market will be expecting further upside gains over the course of the next week. 

Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.

HONG KONG, (PRC) | DENT is world’s largest amount of users at Data, Mobile recharges, security and more purchasing for Data industries of Mobile phone. Also, DENT has most amount of users in world’s #1 Mobile Data Industry and might its holding world’s largest number of market capacity and market volumes.

DENT is Asia’s #1 Mobile data crypto company in Hong Kong, Asia. In DENT we can manage our mobile data market place on the BlockChain with ETH (Ethereum) and make your dream easy at using Crypto to local currency and international recharges and support for mobile Data from DENT.

In DENT, you can Buy / Sell your mobile data and other thing which can DENT Accept for long term investment or turn your mobile data into your Money via Buying Selling DENT.

If you going with DENT, then you can easily solve your problem of Internation sim cards and Data packages from DENT and also as long you can convert your USD, AUD, INR, JPY, HKD and other currencies in one of DENT cryptoCurrency by using your data packages and BUY/SELL options.

In foreign purpose, you should not change your sim card when your are trouble of Changing sim card around the world.

This (DENT) will help you to use anywhere your data packages and other services in situation of your positions. You can easily get the support on finding network and cheap prices of data around the globe through DENT CryptoCurrency where you can feel good and perfect with digital CryptoCurrency.

its (DENT) will help you in every international calls, mobile data, internet and SMS services, Crypto to Local currency and sell your data into your local money like USD or AUD through DENT.

Almost, DENT CryptoCurrency increases every single day by investment of users in the industry of mobile data and internet service like cellular services around the globe.

see the chart of 1 year which are most profitable in DENT CryptoCurrency.

You can see, in the last 3 months DENT almost in Growth because continuously it will be great performance in the world’s largest Mobile data Industry in the globe.

‘DENT’ is mostly uses for International travels, Daily Investment in Mobile data, get Mobile Data to USD or other local currencies, make your dreams perfect as long time of investment in DENT.

Also Foreigners must choose DENT to Travel around without internet data purchasing from their country, DENT will offers you to invest in one and get in all methods of profits.

Thank You!

Written by RKM

Making world motivational by creating content as Media | Creating & Developing | News | Editor | Blogger | Writer | RunningForTruth & Connecting to the world.

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⏱️Timestamps⏱️ ✅Intro 00:00 ✅The Elon Musk Effect, Bitcoin & Doge 0:16 ✅$DENT Price Forecast 1:27 ✅$UFT Price Forecast 2:00 ✅$SPARTA Price Forecast 2:30 ✅$SEED & $TREE Price Forecast 3:03 ✅$TT2K Crowdpooling Sale & Updates 4:41 ✅Outro 07:57

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**Disclaimer** The content of our media is intended FOR GENERAL INFORMATION PURPOSES not financial advice. The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results.

This information is what was found publicly on the internet. This is all our own opinion and research. All information is meant for public awareness and is public domain. Please take this information and do your own research.

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Market Cap: 24h Vol: Cryptocurrencies: 2256Markets: 19001ENGESTRUSTURDEUCHIKORITA USD TWDTZSUAHUGXUYUUZSVEFVESVNDVUVWSTZARZMWZWLCurrencies Exchanges BlogBlockfolio Trading Watchlist Currency Converter Website Widgets Buy / Sell Instantly Mining Equipment Bitcoin Blockexplorer Currencies Top Gainers Top Losers High / Low Exchanges Blog Initial Coin Offerings Events Wallets Mining Pools Currency Converter Website Widgets Buy / Sell Instantly Blockfolio Watchlist Bitcoin Blockexplorer Mining Equipment AdvertiseContact Us Login Register Market Cap24h Vol2256Cryptocurrencies19001MarketsCryptoNewsZ2019-06-23 08:25:09 The Brazil community of DENT is on 7th sky today. According to the recent tweets, it is quoted by a community of DENT, which is a popular and fastest growing blockchain project with 17.4 million users is ranked at number 6th position on the charts of Google play in Brazil. It seems that DENT has The post Dent Price Analysis: DENT Leading Towards Bulls Trend Enticing The Portfolios appeared first on CryptoNewsZ.Most Read News 2019-06-25Related News 25 Jun 201925 Jun 201925 Jun 201925 Jun 201925 Jun 201925 Jun 2019Please enable JavaScript to view the comments powered by Disqus.Get Crypto NewsletterMarket Cap24h Vol60.08%Bitcoin Share236Today News

In this article i would like to share a review on DENT ICO. It looks very interesting in all aspects. In every country for every mobile operators the valuable Asset is Average revenue Per month from users, They are earning from every user approximately $460 for life time after meeting customer acquisition cost. Because of this mobile operators gaining huge profits from mass userbase. But If we think in the view of customer, Every customer is paying money for data to operators for more than what they use, This is happening because operators putting conditions like the data should be used within the time period and due to this user data may not be utilised within period in most of the times. In this way mobile operators looting money from users. To change this into positive manner DENT is introducing data exchange on Ethereum blockchain to buy and sell the data internationally through Dent Tokens. For ex : If a User A from US carrier travelled to UK then he can buy the data from User B who is using UK carrier with Dent Token, Through this User A need not to buy sim in UK. In addition to this through the DENT exchange abroad data users can donate their unused data to developing countries like Africa and India. Once mass userbase come into the platform then the price of Dent Token will increase significantly due to supply of tokens is fixed.This all can be done in mobile app. With this platform the price of data also will be determined with the real market demand and supply and this process will reduce the data prices mostly comparing with existing prices because of the unused data can be sold at lesser price instead of its expiry . I think this Platform has huge potential to disrupt Telco Industry internationally. The team is looking so legit and they are having lots of experience in data industry and blockchain technology. The Crowdsale will start on 12th July 2017 14:00 London Time (GMT+1) It will end on 26th July 2017 23:59 London Time (GMT+1) Interested people can participate in Crowdsale by visiting https://www.dentcoin.com To know more about DENT project Download White paper from https://www.dentcoin.com/whitepaper Bitcointalk Profile link : https://bitcointalk.org/index.php?action=profile

The Dent (DENT) coin is making a big splash today. This Ethereum-based cryptocurrency has been an up-and-comer for months now, but today it is getting the added attention of having added 27% to its price in the past 24 hours. In fact, it’s the top gainer for the day, according to CoinMarketCap. Why is the DENT coin price up today? Why the sudden surge, you ask? It’s undoubtedly because a bombshell announcement just hit the interwebs: Dent will be added to the OkEx exchange. If you didn’t know, OkEx is a pretty active trading platform, ranking among the world’s most popular: @OKEx_ , the 3rd largest Exchange of the world with over 2 Billion USD daily volume, is listing DENT! More info: https://t.co/dmYrkfo0eg #eth #btc #cryptocurrency #dent #dentcoin #Ethereum #bitcoin #mobile pic.twitter.com/A7qiUU1Bid — DENT (@dentcoin) January 29, 2018 Today’s boost in price is certainly a welcome breath of fresh air for those who have been holding onto this coin. That’s because these investors have had a rough go of it. This currency shot up from around $0.02 to $0.11 in the first week of January, then quickly plummeted back down before gradually slipping down to 3 cents – until yesterday. There’s more on the horizon for Dent (DENT) This blockchain-based cellular data exchanging platform released an iPhone version of its trading app last month. We have known for a while that an Android version would be coming in Q1 – but we now have confirmation that it will be by the end of the month. Why is it a big deal that Android phone owners can soon use this app? That is a huge untapped market for Dent – I’ll let them explain: “Adding the Android app after launching the iOS app in December 2017 is the key scaling factor of the DENT business. As our goal is to provide the easiest way to buy and remit data, we need to target the market with the most prepaid phones: The developing world with billions of prepaid users. As Android is 90%+ on those markets, the upcoming version is key for scaling.” The Android app will only mean more growth When this app becomes fully functional in the prepaid user market – this coin is most likely going to soar in value, especially after all the buzz it’s getting on the crypto media circuit. Like Siacoin (SC) users can rent out their unused digital storage, the Android users of this program will soon be able to take advantage of unused data. On top of that, Dent is working on a system where you can earn data while you sit and watch advertisements. After watching a Walmart commercial, for example, you get an SMS notifying you that your wallet has been credited. Check out the roadmap on their site to see what other cool features will be coming up. Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Shiba Inu, the cryptocurrency which made its debut last year, shares some similarities with Dogecoin, including the fact that they are both based on popular memes. But those similarities did not stop SHIB from billing itself in the crypto market as “Dogecoin killer.” It has been somewhat successful in stealing the thunder from Dogecoin, but it does not appear to have made a big dent yet. Trading at a fraction of a penny, it is far behind Dogecoin, which was trading at $0.24 (roughly Rs. 18) Saturday morning (September 11), according to CoinMarketCap.

The market research website's data showed that SHIB has been highly volatile over the past one month. It remained above $0.0000080 (roughly Rs. 0.00059) until August 25 and then began sliding, hitting a bottom of $0.0000056 (roughly Rs. 0.00041) by September 8. It recovered from that low and is now trading around $0.0000070 (roughly Rs 0.00051). Check out the current Shiba Inu Price in India here.

In comparison, DOGE had hit a high of $0.35 (roughly Rs. 25.73) on August 16. For a week after that, it remained above the $0.30 (roughly Rs. 22.060) mark and slid below it on August 24. Dogecoin began losing value earlier this week, coinciding with El Salvador's adoption of Bitcoin as legal tender and the hiccups the rollout faced. As of September 11 (1:15pm IST), Dogecoin price in India stood at Rs. 19.9.

Some experts believe that both these digital coins have peaked in their values and the hype surrounding them is finally starting to give way to price corrections. However, the highly unpredictable nature of cryptocurrency makes any assumption risky. Also, the Shiba Inu community is pushing for the crypto to get listed on the Robinhood investment app.

— Chris ⭐ (@krzychu91pl) May 25, 2021

An anonymous person, going by the pseudonym Ryoshi, launched Shiba Inu in August 2020 as a challenge to Dogecoin. Its mascot is similar to that of Dogecoin, which itself was started as a joke. Like many other cryptocurrencies, Shiba Inu is based on the Ethereum blockchain.

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Bitcoin’s price has been struggling to climb past $58k over the past week. Quite recently, it did manage to breach levels around $57.6k, but unfortunately failed to inch further. Despite the stagnancy on the price chart, the overall bullish sentiment of market participants has continued to remain in tact.

Outlining the derivative market’s trends

The futures open interest has consistently increased since the beginning of this month. In fact, the current OI levels are quite congruent to previous ‘squeeze’ phases that were noted in May and more recently in September, 2021. As depicted in the chart attached, the OI has registered a 45% uptick when compared to its September lows, and has been hovering around $18 billion of late.

Thus, at this stage, it can be asserted the the speculative interest is on the rise.

Paralelly, the 3-month annualized futures basis has also been treading northwards. The latter May- June stretch was notably a bearish period and at that time, the premium remained in range-bound in the 2%-5% range. Even towards the end of September, the same was back to its 5% low and evidently, the bearish sentiment intensified. However, this metric has rallied up to 14.1% in just the last 7 days, indicating the change in the broader sentiment.

The bullishness was further evidenced by the state of the funding rate. The same has remained ‘moderately’ positive [0.01% to 0.02%] for most part of last week across all exchanges. This suggests that long traders have been playing safe amidst the rise in volatility.

The chart above clearly highlights how the volatility has swiftly rebounded from its September lows. The same sort of assures that the asset’s price wouldn’t remain stagnant in the current range for long.

Volatility, just like leverage, is a double-edged sword and can cause dramatic price movements in either direction. Nonetheless, owing to the cautiousness exhibited by traders this time around, high-leverage/volatility induced liquidations wouldn’t cause any major dent.

Odds of breaching $64k

Apart from the overall bullish sentiment, Bitcoin’s fundamentals have also been getting stronger. The current transfer volume levels, as a percentage of realized cap, are quite reminiscent to the levels witnessed during previous bull market phases.

Transfer volumes greater than 3% of the realized cap usually marks the beginning of an uptrend. Glassnode’s data clearly highlights that the same has broken above the aforementioned threshold, suggesting growing demand for on-chain settlement of value.

By and large, the datasets above have painted a bullish picture and it fairly seems that Bitcoin is out of the woods. So, if all trends head in the same direction, then, attaining $64k in the coming fortnight would be almost inevitable.

Where to Invest?

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Lavina Daryanani

With a keen eye on the Indian economic ecosystem, Lavina Daryanani's writing predominantly revolves around crypto-happenings in the Asian markets. She has a strong background in journalism and a personal inclination towards business and financial reporting.

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