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Ethereum slid by 6.59% on Friday. Following a 1.58% loss on Thursday, Ethereum ended the day at $4,217.

After a mixed morning, Ethereum rose to an early afternoon intraday high $4,663 before hitting reverse. Ethereum broke through the first major resistance level at $4,623 before sliding to a late intraday low $4,036.

The extended sell-off saw Ethereum fall through the day’s major support levels. Steering clear of sub-$4,000 levels, however, Ethereum broke back through the third major resistance level at $4,124 to end the day at $4,200 levels.

At the time of writing, Ethereum was down by 0.35% to $4,202. A mixed start to the day saw Ethereum rise to an early morning high $4,240 before falling to a low $4,193.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through the $4,305 pivot to bring the first major resistance level at $4,575 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,300 levels. Barring an extended rally, the first major resistance level should limit the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the ATH $4,868 before any pullback. The second major resistance level sits at $4,932.

Failure to move through the $4,305 pivot would bring the first major support level at $3,948 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,700 levels and the second major support level at $3,679. The 23.6% FIB of $3,738 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,948

Pivot Level: $4,305

First Major Resistance Level: $4,575

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin slid by 7.52% on Friday. Following a 2.56% decline on Thursday, Litecoin ended the day at $188.21.

Tracking the broader market, Litecoin rose to an early afternoon intraday high $208.24 before hitting reverse. Falling short of the first major resistance level at $209, Litecoin slid to a late intraday low $180.15.

Litecoin fell through the day’s major support levels before finding support. Steering clear of the 23.6% FIB of $178, Litecoin broke back through the third major support level at $184 to end the day at $188 levels.

At the time of writing, Litecoin was down by 0.63% to $187.02. A mixed start to the day saw Litecoin rise to an early morning high $189.28 before falling to a low $186.51.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through the $192 pivot to bring the first major resistance level at $204 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $208.24 would likely cap the upside.

In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $220.

Failure to move through the $192 pivot would bring the 23.6% FIB of $178 and the first major support level at $176 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $164.

Looking at the Technical Indicators

First Major Support Level: $176

Pivot Level: $192

First Major Resistance Level: $204

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 5.14% on Friday. Following a 1.73% fall on Thursday, Ripple’s XRP ended the day at $0.92282.

After a mixed morning, Ripple’s XRP rose to an early afternoon intraday high $0.9841 before hitting reverse. Falling short of the first major resistance level at $0.9896, Ripple’s XRP slid to a late intraday low $0.8945.

The extended sell-off saw Ripple’s XRP fall through the day’s major support levels. Finding late support, however, Ripple’s XRP broke back through the third major support level at $0.9080 to end the day at $0.92 levels.

At the time of writing, Ripple’s XRP was down by 0.68% to $0.91659. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.92424 before falling to a low $0.91489.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP would need move through the $0.9338 pivot to bring the first major resistance level at $0.9731 into play.

Support would be needed, however, for Ripple’s XRP to break out from $0.95 levels. Barring an extended crypto rally, the first major resistance level and Friday’s high $0.9841 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.00 before any pullback. The second major resistance level sits at $1.0234.

Failure to move through the $0.9338 pivot would bring first major support level at $0.8835 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.8443. The 23.6% FIB of $0.8533 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.8835

Pivot Level: $0.9338

First Major resistance Level: $0.9731

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

This article was originally posted on FX Empire

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Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to over 1,000 Benzinga visitors on altcoin investing: If you had $1,000 right now, would you buy the dip in Ethereum Classic (CRYPTO: ETC), Shiba Inu (CRYPTO: SHIB), Litecoin (CRYPTO: LTC) or Dogecoin (CRYPTO: DOGE)?

Ethereum Classic: 12.8%Shiba Inu: 28.7%Litecoin: 14.3%Dogecoin: 44.2%

See Also: Is Shiba Inu A Good Investment?

The broader cryptocurrency market experienced a flash crash early Saturday morning, leaving original meme cryptocurrency Dogecoin lower by 11.4% at $0.1774 at the time of publication. Ethereum-blockchain based Shiba Inu is also sharply lower by 9.2% at $0.0000374 over the past 24 hours.

Peer-to-peer cryptocurrency designed for payment processing at scale, Litecoin, is trading lower by 13.5% at around $164.55 over the past 24 hours. Meanwhile, Ethereum Classic, the original version of the Ethereum blockchain, is down by 13.5% at $39.11. See Also: Ethereum Vs. Ethereum Classic This survey was conducted by Benzinga in December 2021 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.

Join ZINGERNATION and earn ZING, an ERC-20 smart contract token we launched aimed to reward members as we build a community to find and share great trading and investing opportunities. Download the mobile app now, available on iOS and Android.

Click here, or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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CryptocurrencyMarketsLicenseRelated Articles After Kraken Listing, Robinhood Under Pressure To Add Shiba Inu: Will The Trading App Yield? Meme cryptocurrency Shiba Inu (CRYPTO: SHIB) has a loyal following, which does not think twice about springing to support the dog-themed meme currency. read more Mark Zuckerberg's Sister Randi Says Dogecoin Killer Shiba Inu Has Become Mainstream In a recent video Randi Zuckerberg, the sister of Mark Zuckerberg, the CEO of Meta Platforms Inc (NASDAQ: FB), pointed out the sudden flourishing of meme coins in the crypto market.  read more Crypto Crash Deepens, Meme Coins Shiba Inu and Dogecoin In The Red Saturday's crypto market crash is being felt across the board as all of the top 20 cryptocurrencies by market cap are having double-digit losses. At the time of publishing, Bitcoin (CRYPTO: BTC) has fallen 15.87 percent to $47,764.  read more What Cryptocurrency Gets Googled The Most In Each Of The 50 States? Which One Is No. 1 Overall? Research based on Google Trends data shows which cryptocurrency people in each of the U.S. states are most interested in buying. read more

NEW DELHI: The Digital Asset Management Review was published by Cryptocompare on November 25. The firm provides institutional and retail investors with real-time and historical cryptocurrency data. In its entirety, the report talks about the crypto exchange-traded products (ETPs), where it is seen that alternative crypto asset investment products are outperforming Bitcoin ETPs. CryptocurrencyLiveThe report concluded the following facts about the rising alternative crypto assets besides Bitcoin: * The trade volume of Ethereum-based investment products has increased. * The research disclosed that overall, crypto-based ETP daily volumes went down by 13 percent but popular ETH-based ETP volume increased. - Average daily trading volume for all the digital asset investment product types fell by October to $732mn/day. * Litecoin and Solana ETPs performed better than Bitcoin investment products at 22 and 14.9 per cent respectively. * Bitcoin-based investment products performed abysmally. * Bitcoin-based investment products yielded negative returns in November as is evident: - ETC Group’s BTCE product returned the lowest at -13.1 per cent. - ETC was followed by Grayscale's GBTC trust which returned merely -10.2 per cent. - Among BTC- based ETFs, Valour's BTCZERO product returned the maximum at -6.6 per cent. * The investment products are ETPs tethered to the current top global crypto assets such as Grayscale’s GBTC and ETHE funds. * The ETPs that are tied to ethereum (ETH), litecoin (LTC), and solana (SOL) gained better during a period of 30 days, ending on November 19. * The maximum asset under management (AUM) among trust products, continued to be in Grayscale’s Bitcoin (GBTC at $38.1billion, down at 10.1 per cent since October). * Average daily trading volumes across digital investment products went down to an average of 13 per cent. * Ethereum (ETHE) was at $12.9 billion and up 3.6 per cent. * ETC Group’s BTCE product restored its earlier position of highest AUM ETF product with a gain of 1.2 per cent to $1.5 billion. - This was followed by Purpose’s Bitcoin ETF (BTCC) and 3iQ Coinshares’ Bitcoin ETF (BTCQ) which fell 6.5 per cent and 10.1 per cent to $1.4 billion and $1.2 billion respectively. Cryptocompare publishes a monthly research report that covers the cryptocurrency investment product landscape. (For the latest crypto news and investment tips, follow our Cryptocurrency page and for live cryptocurrency price updates, click here.) FacebookTwitterLinkedinEMail

One of the top 10 cryptocurrencies, Dogecoin is gradually losing its charm. Once the “most-wanted” coin, it is now struggling to gain back the retail euphoria. The latest step in that direction comes with its new marketing strategy in the form of textile. The new fabric of Dogecoin

Interestingly, a couple of days ago Dogecoin launched its own T-shirts with the intention of improving the network. All the money generated from the sales of this merchandise was aimed to help Dogecoin develop.

The team is also trying to promote environmentally friendly merchandising this way. Since the shirts come with a QR code using which the shirt can be sent back and remade.

However, the irony is- Dogecoin merchandise cannot presently be purchased using Dogecoin. The website’s payment processor Stripe currently lacks support for it and the dollar is the only way to go right now.

The Dogecoin store homepage | Source: DogeSwag

This isn’t the first time Dogecoin has made an attempt to launch itself into the mainstream this way. Last month Burger King ran a reward system where those who make orders above $5 would receive a free Dogecoin.

Alas, all these gimmicks haven’t played any actual role in helping the altcoin. Given that it continues to witness a drawdown with prices falling to 2 cents, at the time of this report.

Well, it did gain 52% in the first half of November but it has since invalidated all that growth. Plus, on the macro scale, it is still stuck in the downtrend wedge since May with attempts to breach through it. However, it has been failing time and again.

Dogecoin price action | Source: TradingView – AMBCrypto

Curiously, right now only those who bought DOGE before April are in profit, everyone else is at a loss. Especially the 200k investors who bought DOGE around the all-time high prices of $6. 

Dogecoin all-time highers and lowers | Source: Intotheblock – AMBCrypto

Anyhow, investors continue to remain loyal by HODLing their DOGE with recent investors maturing into mid-term holders (MTH). These people have held their DOGE throughout November and currently represent 35% of the entire DOGE supply.

Dogecoin holders distribution | Source: Intotheblock – AMBCrypto

Plus, thanks to its solid correlation with BTC standing at 0.94, investors still have some hope with DOGE should Bitcoin rise again.

Dogecoin correlation with Bitcoin | Source: Intotheblock – AMBCrypto

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The City of Miami will reportedly soon give out a "bitcoin yield" from the staking of its cryptocurrency to its citizens, the city's mayor said Thursday.

© TheStreet Miami Citizens to Get 'Bitcoin Yield' From City's Cryptocurrency

Mayor Francis Suarez made the announcement on CoinDeskTV, declaring that "we're going to be the first city in America to give a bitcoin yield as a dividend directly to its residents."

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The yield comes from the staking of the city's own cryptocurrency, MiamiCoin, which was introduced early this year and and has earned over $21 million in the past three months for Miami.

Suarez said the city will make the payments through a digital wallet and will work with a variety of cryptocurrency exchanges to allow its residents to acquire a wallet, register and get verified.

The mayor added that in the long run, the approach could potentially eliminate the need for Miami residents to pay taxes, which would be "revolutionary."

The Big Apple will soon be getting its own cryptocurrency: CityCoins said it activated NYCCoin mining beginning Wednesday.

CityCoins said it was acting on a request from New York mayor-elect Eric Adams, who recently said that he would accept his first three salary payments in Bitcoin.

Adams' pledge was a response to Suarez's Twitter statement that he would accept his next paycheck in Bitcoin.

Bitcoin hit a record high of an all-time high of around $68,950 on Wednesday before prices began to fall.

Nicholas Cawley, an analyst at DailyFX, said the sell-off in the cryptocurrency market "was a sharp reminder — to short-term traders at least — that volatile price moves are always around the corner."

Cawley noted that Bitcoin and Ethereum both made fresh all-time highs after the release of the U.S. inflation numbers that showed price pressures at a 30-year high.

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"The sharp move lower later in the session has been attributed by some to fears that beleaguered Chinese property giant Evergrande had missed coupon payments on one of its dollar bonds, although there remain conflicting reports over this," Cawley said.

On Wednesday, China Evergrande , one of China's largest real estate developers, made interest payments on bonds that mature in 2022 and 2023.

"Traders with a longer-term view on BTC and ETH may well use this recent sell-off to build their positions as sentiment going forward remains positive," Cawley said.

Bitcoin was down nearly 4% to $65,015 at last check Thursday, according to CoinDesk.

This article was originally published by TheStreet.Continue Reading

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The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster “used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.”

Two Fraudulent Crypto Schemes

The SEC announced Thursday that it has “charged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings.”

Noting that Ivars Auzins defrauded U.S. and foreign investors, the securities watchdog explained:

Auzins allegedly used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.

His first scheme ran from January through March 2018. “Auzins fraudulently offered and sold unregistered digital tokens as part of an ICO [initial coin offering] of Denaro, a purported multi-currency debit card platform,” the SEC detailed.

The complaint alleges that “all of the claimed products or services being offered were fictitious, including the relationship with the credit card issuer,” noting that “Auzins misappropriated all of the ICO’s proceeds.”

His second scheme ran from April through July 2019. “Auzins fraudulently offered the unregistered securities of Innovamine, which purportedly offered a cloud mining program,” the SEC described, adding that he “misappropriated nearly all of the funds raised in the offering.”

The securities regulator detailed:

As we allege, Auzins was engaged in a brazen scheme to defraud retail investors under the guise of profitable digital asset opportunities.

The Latvian citizen is charged with “violating the antifraud and registration provisions of the federal securities laws.” The SEC “seeks permanent injunctions, including conduct-based injunctions, disgorgement plus prejudgment interest, civil penalties, and an officer-and-director bar against him.”

Tags in this storycrypto offerings, defraud investors, fraudulent scheme, ICO, initial coin offering, SEC, sec crypto, sec crypto fraud, sec cryptocurrencies, sec cryptocurrency, securities offerings

What do you think about this case? Let us know in the comments section below.

US Treasury Secretary Yellen Says She's Undecided Whether the Fed Should Issue Digital Currency REGULATION | 2 days ago India's Cabinet Note Indicates No Crypto Ban — Government Will Regulate Crypto Assets: Report REGULATION | 2 days ago

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While the top coins showed promising revival signs, Dogecoin depicted a sluggish acceleration. Its near-term technicals flashed mixed signs. Besides, Litecoin and CAKE noted gains on their daily charts after bouncing back from their multi-week support points.

Litecoin flashed bullish technicals, whereas CAKE exhibited a near-term bearish inclination.

Dogecoin (DOGE)

Source: TradingView, DOGE/USD

DOGE finally managed to break out of the descending channel (yellow) and formed an up-channel (white) over the past week. 

After an exceptional month-long rally to its 11-week milestone until 28 October, DOGE persistently declined for the past month. Then, it lost over 44% of its value and poked its four-month low on 26 November post a descending triangle (white) break out.

DOGE bulls found strong support at the $0.197- mark for over four months. Consequently, the price action witnessed a slight revival.

However, at press time, DOGE traded below its 20-SMA at $0.2096. It registered a 1.55% 24-hour loss. The RSI failed to stay above the midline while flashing neutral signs. Besides, the DMI showed a bullish preference but displayed a weak directional trend.

Litecoin (LTC)

Source: TradingView, LTC/USDT

Correlating with top cryptos, LTC consistently fell in a descending channel after touching its 25-week milestone on 10 November. Since then, the altcoin declined by over 38% to touch its one-month low on 28 November.

The bulls ultimately managed to trigger a down-channel breakout as the price revived in an ascending channel over the past week. With this ascent, the price action visibly obliged the seven-week-long support at the $181-mark.

At press time, LTC traded at $207.3 after noting a 2% 24-hour gain. The RSI swayed above the midline, depicting a bullish preference. Also, the DMI lines were on the verge of a bullish crossover. But the ADX displayed a substantially weak directional trend.

PancakeSwap (CAKE)

Source: TradingView, CAKE/USDT

The alt has been on a consistent downtrend since 26 August. After moving sideways during October, the price action bounced between the two parallel lines heading south. After losing over 41% of its value (from 7 November high), the price touched its four-month low on 26 November. 

However, bulls ensured 18-week-long support at the $12.14-mark. Accordingly, price breached broke out of the down-channel, but the bulls failed to sustain the upswing above the immediate resistance at the $13.95-mark.

At press time, CAKE traded at $13.19 after noting a 0.9% 24-hour gain. The RSI was weak after breaching the midline and stood at the 42-mark. Further, DMI reaffirmed the inclination towards the bears. Nevertheless, MACD depicted the bullish revival attempt. 

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2021 has been a profitable year for non-fungible tokens (NFTs) as the market has grown exponentially, allowing anything to be tokenized on the blockchain.

The decentralized nature of the industry also allows anyone to create, mint, and issue their NFTs from any part of the world, including those in prison.

Ross Ulbricht Launches NFT

Ross Ulbricht, the convicted founder of the infamous and defunct dark web marketplace Silk Road, recently announced that he is auctioning his line of NFTs.

The Ethereum-based digital collection, dubbed the Ross Ulbricht Genesis Collection, details various points of Ulbricht’s life, from his childhood to his nine years in prison.

The NFT drop is a unique collection of writings and handmade art, including comic books, artworks depicting scenes from his court trial, an original animation made by the digital artist, Levitate, with a voiceover by Ulbricht himself, which his supporters had minted into NFTs.

ADVERTISEMENTSupporting Prisoners

Funds generated from the auction, which is scheduled to end on Dec. 8, will be used to support prisoners and their families via the charitable fund Art4Giving.

Additionally, the proceeds will fund a trust dedicated to efforts geared toward freeing Ross Ulbricht from life in prison.

Ulbricht added, “My own future may look bleak, but I can still do a little something to heal the damage I see all around me. Prison shatters families. It shatters communities. And the kids are the ones who suffer…

With this NFT, I see a chance to make a difference where it really counts: in the lives of kids who did not ask for any of this. There is a lot we can do with the proceeds of this auction, but one idea I am committed to is to help kids travel to visit their moms and dads in prison.”

Crypto Twitter Reacts

The announcement of Ulbricht’s NFT collection was met with mixed reactions across Crypto Twitter. While his supporters accepted it wholeheartedly, other industry participants did not.

Ulbricht has been a controversial figure within the crypto space ever since his incarceration about eight years ago.

He launched Silk Road in 2011, a dark web marketplace that was used for trading all sorts of illegal items, including drugs, weapons, and more, using bitcoin and other digital assets. In 2013, however, Ulbricht was arrested, and Silk Road was subsequently shut down. He was later convicted of conspiracy to launder money, computer hacking, narcotics trafficking, and running a criminal enterprise. Although he received two life sentences plus 40 years and was denied a presidential pardon earlier this year, his supporters have continued to rally for his release.

While some Bitcoin enthusiasts are completely against the idea of a criminal selling NFTs, the use of ETH to mint the tokens, among other things, Ulbricht has received immense support too.

Crypto Cobain, the host of UpOnly, slammed Bitcoin maximalists for their unwelcoming response to Ulbricht’s NFT drop, noting that he had pioneered the early adoption of Bitcoin.

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Two days ago on December 2, the Ross Ulbricht Genesis Collection auction of non-fungible token (NFT) assets kicked off at Art Basel Miami via the Superrare platform. The Ulbricht NFT collection auction ends on December 8, and so far the auction has seen a bid of 666 ether or roughly $2.6 million. Additionally the project Pleasrdao aims to up the ante as the “Free Ross DAO” bidding on the collection has raised 1,042 ether or $4.2 million to date.

Ross Ulbricht NFT Auction Eyes Millions in Ether

During the third week of November, Bitcoin.com News reported on the Ross Ulbricht Genesis Collection auction taking place at the start of Art Basel in Miami. The auction was initiated on the Superrare NFT marketplace platform and the collection is an assortment of ten artworks by Ross Ulbricht.

“Curated by Entoptic, this is the first and only NFT to include Ross Ulbricht’s personal work,” the announcement detailed. So far, the Ulbricht NFT collection has seen significant demand and to date, Superrare stats show a bidder dubbed “@toxicbitcoinmaxi outbid @starrynight” with a bid of 666 ether on December 3. At current ether exchange rates, that’s more than $2.6 million in USD value.

After the bid of 666 ETH, the Twitter account that belongs to the creative director at Swan Studios, Brekkie, told his 40,000 Twitter followers that Ulbricht’s NFT art was beyond inspiring.

“Ross’s artwork is beautiful and his perspective on life, despite everything, is beyond inspiring,” Brekkie tweeted. “I hope that one day he will gain his freedom, freedom that so many of us take for granted every single day. Yes, I oppose ethereum et al, but we are all humans, Ross even more so.”

On Saturday December 4, 2021, Ulbricht’s clemency petition hosted on change.org is 42,833 signatures away from reaching a half million signatures.

The ‘Free Ross DAO’ Contender

In addition to the bid by “@toxicbitcoinmaxi” on Superrare, Ulbricht’s NFT collection could be purchased by the Pleasrdao project that plans to fractionalize the artwork.

“Ross Ulbricht founded Silk Road, introduced hundreds of thousands to crypto, and received a disproportionate prison sentence of two lifetimes plus 40 years,” the Pleasrdao’s “Free Ross DAO” initiative explains. “Today we unite in solidarity for Ross, gathering funds to buy his Genesis Collection, and protesting the injustices of the American prison system.”

At the time of writing, the “Free Ross DAO” has collectively raised 1,042 ETH or $4.2 million in USD value. The decentralized autonomous organization’s manifesto stresses: “We will Free Ross. We will advance prison reform. We will share Ross’s work with the world and give everyone a unique opportunity to own a piece of it.” Ulbricht too has said that he hoped to lend a hand to his fellow prisoners, and his “art is one way” he can help.

Tags in this story@toxicbitcoinmaxi, Art Basel Miami, Brekkie, Clemency, Entoptic, Free Ross, Free Ross DAO, FreeRoss.org, KSPEC, NFT Auction, NFT collection, NFTs, Non-fungible artwork, Non-fungible Token, petition, Pleasrdao, Ross, Ross Ulbricht, Silk Road, Silk Road Marketplace, Superrare, Ulbricht, Ulbricht Family

What do you think about the Ross Ulbricht Genesis NFT Collection auction? Let us know what you think about this subject in the comments section below.

Ethereum Might Dethrone Bitcoin as Best Crypto Store of Value, Study Argues NEWS | 1 day ago FBI Seizes Bitcoin Worth More Than $2.2 Million From Ransomware Affiliate NEWS | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, Ross Ulbricht NFT Collection,

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The global crypto market capitalisation is something that has captivated many. Additionally, what cannot go out of notice is that this magical world of cryptocurrencies has been growing beyond one’s imagination. Higher returns, exponential growth and portfolio diversification are a few of the many reasons why investors have shown an inclination towards cryptocurrency investment. On that note, if you have are looking for the top 10 cryptocurrencies to gift this December holiday season then you are in the right place. Read on to find out the best cryptocurrencies that are totally worth investing.

Bitcoin

Bitcoin has been in the market for the longest time now. With Bitcoin’s market cap and volume that’s much higher than any other investment options, investors are naturally attracted towards it. Bitcoin is widely accepted as payment as well, thereby attracting corporate investors from every corner of the world.

Ethereum

Ethereum has gained popularity by not just being the second-highest cryptocurrency by market capitalization but also as an Ethereum network that allows developers to create their own cryptocurrency. Though this cryptocurrency came years after Bitcoin, its dominance and uniqueness grabbed eyeballs.

Cardano

What can get better than investing in a cryptocurrency that is packed with advantages including less energy consumption, faster and cheaper processing? Well, these are the features exhibited by Cardano. Claiming to be more adaptable and secure, Cardano has definitely excelled at winning the trust of the investors.

Polkadot

What sets Polkadot different from the rest of the cryptocurrencies is the fact that instead of having a single “lane” to complete transactions in, it has several. The main idea of launching this cryptocurrency was to reward genuine investors and remove people who are just trading on the stock market to make money fast.

Tether

Tether is a go-to cryptocurrency for all those investors who are looking for a safe investment in the cryptocurrency market. It is considered to be the best investment option for the ones who aren’t willing to take much risk considering how volatile the cryptocurrency market is.

Binance coin

Binance coin is one of those cryptocurrencies that has shown steady growth for quite some time now. It is because of this why it is considered to be one of the more stable investment options, posing fewer risks.

Chainlink

Chainlink’s value has seen a significant increase in its value thereby opening doors for growth in the coming days. Also, Chainlink has served to be one of the most easily accessible cryptocurrencies. This is yet another reason as to why the investors are inclined towards the same.

Litecoin grabbed attention from every corner of the world by being the first cryptocurrency to complete a Lightning Network transaction that merely took a second to complete. This cryptocurrency boasts of completing the transactions faster than Bitcoin which is why this making it to the list of the top cryptocurrencies doesn’t seem to surprise anyone.

Ripple

Ripple, a company that unveiled the XRP token, came into the limelight by offering the completion of the international transaction in a matter of a few seconds. Also, how can one not talk about Ripple’s contracts with big banks around the world? This ultimately throws light on how good of an investment option it is.

Stellar

Stellar is that one cryptocurrency that has evolved to serve as a bridge between banks and blockchain networks. In addition to its ability to convert any currency and trade it across channels, it also makes these transactions cheaper and faster.

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Share This ArticleDo the sharing thingyAbout AuthorMore info about authorAshish Sukhadeve

Ashish is the Editor-in-Chief of Analytics Insight. He brings over 16 years of experience in business research and analytics across different sectors. He graduated from National Institute of Technology (NIT), Durgapur in 2001. Ashish has completed executive programs in business analytics from IIT, Hyderabad and Narsee Monjee Institute of Management Studies (NMIMS).

The Indonesian Ulema Council (MUI), a top body of clerics, has ruled that using cryptocurrencies as a means of payment is unlawful in Islam, but trading of digital assets could be allowed, one of its leaders said on Thursday.

© Adobe Stock Coins representing crypto currency of bitcoin, ethereum, litecoin, monero, ripple, dash, on a dark background, a pattern of coins. Business, finance and technology concept.

Indonesia, the world's biggest Muslim majority country, bans the use of crypto as a currency, but investment in and trading of the digital tokens are allowed in the commodities and futures market.

The total value of cryptocurrency trading in the commodity bourse has reached 370 trillion rupiah ($25.96 billion) this year to May, according to the trade ministry.

The total trading at the end of 2020 was valued at 65 trillion rupiah. The number of traders has reached 6.5 million up from 4 million.

As a means of payment, cryptocurrencies are forbidden according to Shariah law because they carry elements of uncertainty and harm, and are in violation of state laws, Asrorun Niam Sholeh, the MUI's head of religious decrees, told Reuters.

Trading of cryptocurrencies as a commodity is also unlawful, with the MUI likening it to gambling, because it does not meet Islamic rules, such as for the goods to have a physical form, a clear value, and a known exact amount, among other reasons, he said.

However, the MUI allows trading of cryptocurrencies that meet Islamic rules, have an underlying asset and carry clear benefits, Asrorun said.

The commodities exchange allows trading of hundreds of cryptocurrencies that meet requirements of safety and good governance of the blockchain system.

The MUI's decree is not legally binding as it is not part of the government, but its ruling may affect investment decisions by some Muslims.

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A wave of spot selling crashed the price of Bitcoin on Saturday, leading to a plunge in prices of many other cryptocurrencies including Ethereum, Litecoin and Ripple.

As of publishing, Bitcoin was trading at $47,395.99, down over 16 per cent from its Friday figure. Many cryptocurrencies were trading at 20 per cent below their earlier levels initially before recovering some of their value.

Huge stop losses were triggered in cryptocurrency derivative markets, Coindesk reported, noting that Coinglass data shows nearly $600 million worth of bitcoin futures positions were triggered in less than an hour.

Tether (USDT), a stablecoin that is supposed to be maintained at a 1:1 peg with the US dollar, was briefly trading at $1.025 on Coinbase.

The crypto sell-off accompanied general volatility in financial markets as central banks tighten monetary policy the world over, and fears of the Omnicron variant and its potential impact on global trade drive back risk appetites.

El Salvador, which has bet big on cryptocurrencies by making Bitcoin legal tender, has continued with its tradition of buying more Bitcoin whenever the price crashes. President Nayib Bukele tweeted that the country had bought 150BTC at an average price of $48,670.

Just one month back, BTC was trading at an all-time-high of over $68,000.

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Gary Gensler shows his true colors by saying Bitcoin has disrupted the global banking system.

Samuel Wan · December 4, 2021 at 6:00 pm UTC · 2 min read Samuel Wan Info TwitterShare this article Tweet Post Share Post Email

SEC Chair Gary Gensler finally reveals his stance on Bitcoin by saying he doesn’t support its “off-the-grid” approach to finance.

“In 2008, Satoshi Nakamoto wrote this paper in part as a reaction, an off-the-grid type of approach. It’s not surprising that there’s some competition that you and I don’t support but that’s trying to undermine that worldwide consensus.”

Given Gensler’s experience teaching blockchain technology at MIT, many billed him as the “right choice” to lead the securities regulator. But coming up to eight months since being sworn in, and it’s fair to say his tenure to date hasn’t advanced the cryptocurrency sector how many imagined.

More so, his recent comment above demonstrates that his allegiance lies with the legacy sector. But is this a surprise at all?

Bitcoin is the competition to the banking sector

Speaking at Wednesday’s Digital Asset Compliance & Market Integrity (DACOM) Summit, Gensler said the current banking system is the culmination of 40 years of tweaking.

“We layered over our digital money system about 40 years ago with money laundering and various sanctions and regimes around the globe; we layered that over a digital currency system called our banking system.”

He went on to say that Bitcoin launched, in 2008, as a reaction to the banking system. Adding that, he doesn’t support this “off-the-grid” approach as it undermines the banking consensus.

However, Satoshi Nakamoto said Bitcoin is necessary as an alternative to a system of currency debasement. In effect implying central banks do not operate in the people’s interest.

“The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

The first BTC transaction, made on January 3, 2009, included a message about the UK Chancellor’s decision to bail out the Royal Bank of Scotland, Lloyds, Bradford & Bingley, and Northern Rock.

Gensler was supposed to be “the one”

Crypto markets were optimistic over Gensler’s appointment as SEC Chair in March. IOHK CEO Charles Hoskinson said it bodes well that he understands the blockchain space.

“The thing I like about the appointment of Gensler is that he is competent. He’s clearly a very smart guy and he fully understands our industry to the extent that he taught at MIT on our industry.”

However, Gensler’s unwillingness to end the SEC lawsuit against Ripple, plus a litany of similar incidents, including calls for greater oversight, demonstrates, at the least, he isn’t for free-market cryptocurrency reform.

Gensler has always maintained that his role is to protect retail investors from fraud and manipulation.

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Last week’s flows into digital asset funds suggest sustained appetite for crypto, despite recent market corrections.

Ana Grabundzija · 4 days ago · 2 min read 8 of the top 10 NFTs sales last month have been Bored Apes and CryptoPunks

Athletes, musicians and pop culture celebrities are entering the NFT world in droves.

Ricardo Rivas · 5 days ago · 2 min read Jesse Powell addresses reasons for Kraken dropping Monero in the U.K

Kraken caves in to regulatory pressure and drops support for Monero, will this ultimately put an end to privacy tokens?

Samuel Wan · 7 days ago · 2 min read VideoDeFi risks and protocol safety with Tarun Chitra of Gauntlet Network

Chitra broke down fundamental differences in security models between PoW and PoS protocols, alongside talking about two categories of DeFi risks. While focusing on attacks caused by unexpected user behaviour, such as rug pulls, his team uses a simulation engine that enables risk predictions.

3 days ago · 3 min read Press ReleaseDogs on Solana: Doge Capital Announces Doge NFT Staking Program. Users can Earn $DAWG Daily

Guwahati, India, 4th December, 2021, Chainwire — When the world is fixated on Apes, whales and other NFTs, the most famous of all memes, the one that started a whole new revolution within cryptocurrencies, remains largely ignored.

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Regardless of whether NFTs are a flash in the pan, cryptocurrency investors are wagering that the underlying blockchain innovation is digging in for the long haul. Crypto enthusiasts and investors flocked to Miami Beach, Florida this week during one of the world’s premier art events. Interestingly, Art Basel Miami featured numerous NFT displays. However, the city additionally facilitated as much as 200 different occasions, where the emphasis was more on the innovation behind these digital collectibles. Musicians, artists and celebrities are clamoring to launch NFTs, or non-fungible tokens, which are unique digital resources with proprietorship privileges confirmed and put away on a blockchain.

The new asset class is raking in roughly $2 billion per month, up from $400 million in January, according to recent estimates from JPMorgan. Analysis by DappRadar shows NFT volume skyrocketing 38,000% year-over-year to $10.7 billion in the third quarter.

It’s a way to have ownership over content that’s been historically easy to replicate online.

“Certainly there’s a lot of hype,” said Mike Shinoda, musician and co-founder of the band Linkin Park, who launched a new NFT mixtape this week. “Most people believe there’s some version of a bubble happening. But most of us who are in the space think that whether it goes up or down, it’s a new thing that’s here to stay in some version of itself.”

“We all have some basic understanding of art. We don’t all have a basic understanding of cryptocurrencies and blockchain — it’s the next step towards mass adoption,” Yver told CNBC. “NFTs are the first time a lot of people create a connection with cryptocurrency and blockchain.”

Gateway to crypto Tristan Yver, head of strategy at Miami-based FTX U.S. said the hype benefits all corners of the crypto industry, even if parts are overvalued. Digital art can be a less intimidating way to introduce people to blockchain technology, according to Yver.

Blockchain technology used to be synonymous with bitcoin. But in the past few years, a variety of other blockchains have popped up that now support things like finance applications and video games.

Also known as distributed ledgers, the main draw for building on a blockchain is that they’re “decentralized.” There’s no central authority controlling these networks and no single point of failure. Advocates say it’s more transparent. Some tech investors see it as the next wave of the internet, dubbing it “Web 3.0”.

Adam Judd, head of crypto at LionTree, said some specific NFT projects feel “somewhat bubbly.” But he still sees room for growth in the category and new use cases around identity, community incentives, start-up funding, entertainment and fashion. He pointed to the cultural phenomena of the Bored Ape Yacht Club, and Beeple’s record $69 million NFT sale driving “immense interest” in Web 3.0. “One of the biggest opportunities right now is around user-friendly interfaces and experiences for the everyday person that make NFTs approachable, valuable, and economical,” Judd said. “Once the everyday person feels as comfortable purchasing an NFT as they do buying a coffee, the rest of Web3 will benefit.”

Packy McCormick, founder of Not Boring Capital, was also in Miami this week and said NFT events were the key catalyst for getting like-minded people in the same room. But conversations were drifting more towards decentralized autonomous organizations, or DAOs, a new type of governance system, and other new use cases for blockchains. “Once people get into NFTs, they want to learn about everything else going on in blockchain — it’s impossible not to go down the rabbit hole,” McCormick said. “There’s going to be a ton of people coming in to speculate. But the important projects will have staying power and over time, quality will win.”

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Cryptocurrency is the trading topic all across the globe these days. Cryptocurrency exchanges are also increasing day by day, but users trust the top cryptocurrency exchanges. Crypto traders also make a choice between trading raw crypto or trading crypto derivatives or products. Most of the cryptocurrency exchanges are now using blockchain technology that allows for decentralized order books and decentralized storage and is secure because of cryptography encryption techniques. Here are the top 10 cryptocurrency exchanges that trade at lower fees.

Pionex

Pionex is one of the cryptocurrency exchanges that have built-in trading bots. It offers a suite of robots such asgrid trading bot, smarttrade bot, trailing sell bot, martingale bot, arbitrage bot, rebalancing bot and dollar-cost averaging bot. It supports manual trading through crypto-to-crypto conversations which is a crypto trading bot which is an automated program that performs the execution of both buying and selling orders without any requirement of the manual inputs.

CoinSmart

CoinSmart is a Canadian crypto exchange that provides 24/7 support and has a comprehensive identity verification process that has a potential of detecting fake addresses or a date of birth. This is one of the cryptocurrency exchanges that provides users to get cold storage for each cryptocurrency. The platform has a two-factor authentication system, and provides an order book functionality to place customized orders and has features to let you track all your trades or trading activity.

Binance

Binance is one of the top cryptocurrency exchanges in terms of trading volumes. It supports 150 cryptocurrencies and coins including the most popular ones like Bitcoin, Litecoin, Ethereum, and its own BNB coin. This is the crypto exchange that has more than 100 million people using the exchange this year. Unlike Bisq, it is not decentralized. It is available in more than 180 countries around the world although it is banned in the United States.

Bybit

Bybit is a smart and intuitive crypto trading platform that features and functionalities for the instant buying and selling of cryptocurrency. This is one of the cryptocurrency exchanges that gives real-time market data and has a track record of 99.9% availability even through volatile market periods. It features a state-of-the-art pricing system, 100K TPS matching engine, smart trading system, and HD cold wallet.

PrimeXBT

PrimeXBT is a trading platform with access to the global markets and 24/7 support. This is one of the cryptocurrency exchanges that pays up to 50% of the trading fees paid by them. PrimeXBT is a platform for trading global financial markets with Bitcoin, USDC, Tether and many more. It has low fees and provides faster order execution and advanced platform features.

FixedFloat

FixedFloat is an easy and accessible exchange platform that offers tools for making full use of digital assets. This is one of the cryptocurrency exchanges that is a flexibly tailored solution. The solution has a robust design and provides fast processing. All the top cryptocurrencies are supported by FixedFloat.

ChangeNOW

ChangeNOW is the platform for non-custodial limitless crypto exchanges. It is one of the cryptocurrency exchanges that provides the service to exchange Bitcoin to Ethereum, Ripple and XMR. It supports more than 1000 currency and is a safe platform that provides non-custodial service and does not store funds.

Cash App

Cash App by Square is the most widely known iOS and Android app for sending and receiving peer-to-peer money in the United States although it currently works for many other countries too. The highest transitional limit is upto US$100,000 for BTC users. It is one of the cryptocurrency exchanges that is simple to use.

Bisq

Bisq is a desktop and mobile application that allows users to buy and sell Bitcoins in exchange for their local currencies in their home countries. The users can get a savings account if they have a government-issued ID but it is not necessary for those trading cryptos. This is one of the top cryptocurrency exchanges that does not require KYC for identification.

Kraken

Kraken, based in the United States, has been operational since 2011 and is available in 48 US states and 176 countries. It is one of the top cryptocurrency exchanges that is used in the market volumes. It is considered very safe to trade since it has never been hacked, unlike Binance or Coinbase which are other of its competitors.

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Bitcoin seems to be the most prominent cryptocurrency on the public’s lips, and rightly so. It remains the most significant cryptocurrency on the market.

That market, though, has been flooded with literally thousands of different digital currencies.

There is a name for these coins; they are called ‘altcoins‘ – alternatives to Bitcoin.

Since its debut in 2009, Bitcoin has remained the largest and most popular cryptocurrency in Canada and remains a public favourite. Even though Bitcoin remains the biggest in the market, more cryptocurrencies are starting to catch up and become well-used. Here are some of the most popular cryptocurrencies on the Canadian market.

1. Bitcoin (BTC)

Bitcoin started the cryptocurrency era and remains the most widely used coin. It is generally impossible for people around the world to speak about cryptocurrency without talking about Bitcoin.

Price: $54,515

Market cap: $1.3 trillion

2. Ethereum (ETH)

Ethereum is the second-most popular cryptocurrency platform you may have heard in the Canadian crypto space. It is a diverse system that allows users to perform different functions, but its popularity is attributed to its smart contracts feature.

Price: $4,085

Market cap: $574 billion

3. Binance Coin (BNB)

Binance Coin is the official cryptocurrency of Binance, one of the largest crypto exchanges in Canada. However, it was created to serve as a token to aid with payments for discounted trades. Binance Coin is now used for day-to-day transactions just like any other cryptocurrency.

Price: $594.69

Market cap: $109 billion

4. Solana (SOL)

Solana is a new cryptocurrency that was launched in March 2020. It prides itself on the speeds at which transactions are done on the platform and its overall robustness.

Price: $245.71

Market cap: $74 billion

NB: The above prices were taken on 27/11/2021

Choosing the right cryptocurrency exchange could differ between making it in the crypto space or completely flopping and failing. The cryptocurrency exchange you choose could affect how profitable your day-to-day trades are, how speedily you can buy and sell assets, and, unfortunately, if you will ever get your money or any profit in the first place.

This might come as a surprise, but they are many cryptocurrency exchange scams running, even in Canada. In 2019, thousands of everyday Canadians lost millions of dollars in the QuadrigaCX scandal and, to date, these people still haven’t seen their money.

Therefore, it is essential to choose a secure Canadian cryptocurrency exchange that is user-friendly and will keep your money safe. Here are three of the most popular exchanges in Canada:

1. CoinSmart

CoinSmart takes the gold for the best cryptocurrency exchange in Canada. If it is a new name to you, that’s because it has been focusing on improving trading services and not on marketing. But if you meet any veteran Canadian crypto trader, they are sure to tell you that this cryptocurrency exchange lives up to its name and is widely viewed as the best in the game.

2. Crypto.com

Crypto.com is a world power in the cryptocurrency exchange business and has recently made its mark on the Canadian crypto market. Reports state that it supports more than 100 cryptocurrencies, making it perfect for any user to invest in altcoins.

This cryptocurrency exchange offers some features that are unique only to it. It allows users to trade and create contracts and also earn interest by staking coins. Users can also make trades with 10x leverage if they are confident in a coin.

3. Bitbuy

CoinSmart might be the best cryptocurrency exchange app in Canada, and Crypto.com makes a strong case for second place, but Bitbuy takes home the bronze. It offers nine cryptocurrencies: Bitcoin, Litecoin, Ripple, Stellar, Bitcoin Cash, EOS, Aave, Ethereum, and Chainlink.

This cryptocurrency exchange boasts about its customer service and has a functional app with an outstanding interface that is well-rated by users. Buyers can fund their account directly from their bank account by making an INTERAC e-transfer or via bank wire, and your deposits will be made quickly.

In conclusion, Bitcoin has remained the most popular cryptocurrency globally since its inception in 2009, and it has continued to grow. Canada has not been left out of this growth and continues to take advantage of this. Although Bitcoin might be the most prominent cryptocurrency in Canada, there are others following closely on that list.

As the fear sentiment kicked in, the market saw an enormous sell-off over the past day. This decline led to an invalidation of long-term bullish outlooks of several cryptos, depicting a superior bearish influence for a while now. 

Altcoins like Chainlink and Ethereum Classic showed revival signs from their historical supports, but their trend and technical indicators were still on the bearish side.

TradingView, LINK/USDT

Chainlink invalidated its long-term bullish trend after a steep plunge poking its 19-week low on 3 December. The crypto had been slackening after hitting its six-month high on 10 November. This descent marked a down-channel while LINK bulls struggled to uphold the two-month support level at the $23.8-mark. 

Then, the bulls tried to mount a recovery by marking an 18% rally from 28 November to 1 December. But the price fell back from the upper channel and succumbed to the broader sell-off.

Although the bulls dwindled, they ensured the four-month support at the $18.6-mark. Consequently, LINK traded at $20.13 after noting a nearly 6.74% 24-hour gain.

The RSI touched its record low at the 19.07-mark on 4 December. Since then, it showed some revival but still lingered around the oversold region. Further, the EMA ribbons visibly display a bearish bias as the sellers alter the trend in their favor.

TradingView, ETC/USDT

After poking its ten-week high on 9 November, ETC correlated with the overall trend as a dynamic bearish flip occurred. The bulls lost their edge as the price declined between the down channel. Then, after a 10% up-channel breakout on 25 November, the bulls failed to sustain their edge as the price fell, marking a symmetrical triangle.

The bulls needed to sustain the 19-week support at the $44.7-mark. But they failed to uphold that level causing a further breakdown toward its seven-month low at $28.12.

However, at press time, ETC traded at $40.4 after noting a 13.3% 24 hour gain. The RSI saw a staggering plunge toward the 12-mark but showed some revival signs over the past day. Also, the DMI undeniably preferred the bears with a high directional trend. On the flip side, the AO projected a near-term bullish setback.

TradingView, AVAX/USDT

Despite a substantial breakdown on 3 December, AVAX did not bid adieu to its long-term bullish trend.

Since 12 October, AVAX visibly witnessed monstrous gains by steadily up swinging. The digital currency noted an over 180% 39-day ROI to touch its ATH on 21 November. Since then, the price fell back into the trend until an up-channel breakdown on 2 December. The alt saw a 17.6% loss over the past week and resonated with the broader market trend.

This decline swiftly pushed the price below the $87.7 mark, but it quickly recovered and found support at the golden 61.8% Fibonacci Level. The RSI chose the bears but showed slight revival signs. Considering the vast difference between the DMI lines, the market visibly signaled a bearish trend for a while.

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Yash Majithia

With a background in financial reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.

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