Category Archives: Cryptocurrency

HEX (CRYPTO: HEX), a cryptocurrency associated with a project that claims to be the first blockchain certificate of deposit, has soared in market capitalization ahead of Cardano (CRYPTO: ADA), Solana (CRYPTO: SOL), and Dogecoin (CRYPTO: DOGE), if CoinMarketCap data is to be believed.

What Happened: At press time, Hex had a market cap of nearly $79.1 billion, as per CoinMarketCap.

See Also: How To Buy Dogecoin (DOGE)

Screenshot From CoinMarketCap Indicating MarketCap Of Hex And Its #201 Rank

This would put the coin ahead of ADA, which had a market cap of $77.7 billion at press time, and make it the third-largest cryptocurrency by that metric.

It's worth noting that other data providers like Messari Cryptoand Coingecko don't provide a market capitalization metric for HEX as of press time and don't feature it in their lists of top cryptocurrencies.

On Wednesday night, HEX was seen listed as the fourth-largest cryptocurrency by market cap on CoinMarketCap. Benzinga reached out to the price-tracking website owned by cryptocurrency exchangeBinance to clarify if this was an anomaly but didn't receive a response as of press time. HEX disappeared from the list of top 100 cryptocurrencies an hour later but the market cap continues to be reflected with an amount that would put it above Cardano.

Screenshot From CoinMarketCap Taken At 9:39 p.m. ET.

Why It Matters: Should the CMC data prove to be accurate, HEX is now a larger coin than not only ADA, but also SOL, which has been on a tear lately rising 427.58% in a span of 30 days and 82.01% in a week.

See Also: Is Solana Better Than Ethereum? Twitter Buzzes With Questions As Crypto Strikes Massive Gains

Going by CMC data, HEX has also exceeded the market cap of DOGE, which has shot up 4,365.1% so far this year to emerge as No. 8 on the cryptocurrency price-tracking website's list.

This is a remarkable ascent for a project whose disclaimer page states, HEX is not a security. There aren't actually any coins, they're just numbers in a distributed database. No one is actually given anything.

The disclaimer concludes with a somber note of the most literal fashion, You will notice the theme of all of the above text is that you should have absolutely no expectations of any sort regarding anything, and if anything goes wrong, you shouldn't look for redress anywhere, and you should receive none.

A Cointelegraph report dating back to May 2020 pointed out that true believers in HEX claim on social media that whales have staked a lot and since the project rewards them it is not a scam.

On the other hand, cryptocurrency media have derided the Richard-Heart-founded HEX as worthless and an outright scam, Cointelegraph noted at the time.

Critics reportedly include podcast host PeterMcCormack and Bitcoin Magazine writer Vlad Costea.

Read Next: 'Dogecoin Mining' Scam In Turkey Costs 1,500 People $119M As Alleged Perpetrator Vanishes Into Thin Air

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Has HEX Cryptocurrency Overtaken Cardano And Dogecoin In Market Capitalization? - Benzinga - Benzinga

Jaylen Clark, a UCLA basketball reserve, will be the first collegiate athlete to have his own cryptocurrency, he announced on his YouTube page Thursday.

Clark, who averaged 2.5 points per game last season for a UCLA squad that lost to Gonzaga in the Final Four, said he worked with Rally, a personal cryptocurrency company, to create $JROCK. He said he'll market $JROCK to his more than 22,000 YouTube subscribers and 59,000 Instagram followers.

"I already trade all the time," he told ESPN. "I'm active on my Robinhood account."

Added Clark: "I feel like it's a great way to educate people on crypto and how it works."

He said he'll use his own crypto to build his connection to his fans through various events, such as ticket giveaways. Those who use $JROCK will also have access to unique content through his platforms.

Cryptocurrency is a digital currency. Clark said he was already actively involved in cryptocurrency before meeting with the officials at Rally.

"The NCAA's policy change is allowing young, talented athletes to embrace the creator economy in ways which were previously not possible," said Nick Millman, vice president of partnerships at Rally in a statement. "We are excited to have Jaylen at the forefront of this new economy and are looking forward to helping other athletes unlock new ways to share value with their fans."

Months after name, image and likeness rules changed for collegiate athletes, Clark said he doesn't believe most athletes will benefit. But those who have a strong social media following, he said, will thrive. He said he already is generating significant revenue through his YouTube page after "being able to monetize your fan base."

He is represented by ACIB Management, a group co-founded by Andre Chevalier II and Ian Brown.

Brown said Clark's venture with cryptocurrency could set the blueprint for other collegiate athletes to follow.

"We see crypto as an incredible vehicle for NIL because it really gives the power to the player in a way that other deals don't," he said.

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UCLA basketball sub Jaylen Clark to have his own cryptocurrency - ESPN

The Cardano platform could become the most valuable in the cyber world. Its virtual currency (ADA) even surpasses current market leaders such as Bitcoin and Ether after increasing its value by 1000% during 2021.

Depositphotos.com

Last Thursday, August 26, the price of Cardano rose 19%, which surpassed the Binance coin and placed it in third of the most valuable cryptocurrencies in the market, according to Sebastian Sinclair at Coindesk. The currency could rise even higher as a result ofits "sustainable" properties.

When Tesla CEO Elon Musk announced that the company would stop accepting Bitcoin payments, more than a quarter of a trillion dollars was wiped from the global cryptocurrency market. However, ADA survived because of its blockchain protocol, which is based on a proof of stake and not of work.

Related:Bitcoin Reaches $50,000for the First Time Since May

The underlying technology of the platform does not depend on "super"computers to process transactions and generate new ADA units, but rather values the percentage of coins it owns in a miner rather than the processing power it has.

Charles Hoskinson, founder of Cardano, estimated that his network used less power than 0.01% of the Bitcoin network, potentially increasing the energy efficiency of a proof-of-work system like today's leaders by more than four million.

According to the platform's forum, the potential of Cardano could be compared in the future with companies such as Amazon, Facebook and Netflix: Cardano aims to become a global financial computer. It is here for all the people who could use a decentralized currency to create decentralized services."

Related: Xoycoin: the First Mexican Cryptocurrency With Which You Can Invest From 20 Pesos

"What could the price of ADA be in a few years? Cardano could have a similar capitalization to that of the technological giants, says the platform.

It ranks on par with Baidu and already surpasses Dropbox, McAfee antivirus, Slack and LG Electronics.

At the moment, Cardano has reached a capitalization of $86 billion. While it is still far from the $367 billion that Ether capitalizes or the $893 million from Bitcoin, the blockchain is emerging as the new favorite of experts.

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Cardano's Cryptocurrency Could Become the Most Valuable in the Cyber World - Entrepreneur

Bitcoin is the world's largest cryptocurrency and its valuation is on the rise

Cryptocurrency is barely a speculative investment these days. Retail and institutional investors are taking the digital assets very seriously. With so much going around the digital currency, investors are treating them as useful for not only short-term profits but also for long-time investment. But which ones should you choose to invest in? To make it easier for you, we discuss some crypto coins that have been topping the market cap charts time and again. Considering their relative stability, these could be good choices for a long-term investment. (Also Read: Meet "The Jedi Master Of Crypto": He Has Also Invested In Indian Start-Up)

1) Bitcoin (BTC)

Bitcoin is the world's largest cryptocurrency. Its valuation is increasing as more investors are endorsing this digital gold'. The most vital factor behind its prized value is the maximum limit of its coins: 21 million.

2) Ethereum (ETH)

Ethereum or ether is almost always in competition with Bitcoin, Ethereum or ether. Its share in the crypto market recently rose from 18 per cent to 20 per cent. It is a decentralised blockchain platform that cuts out third parties.

3) Cardano (ADA)

Cardano is also a decentralised blockchain platform that uses a native cryptocurrency. It enables secure peer-to-peer transactions. There are plans to enable smart contracts on it very soon.

4) Uniswap (UNI)

This currency already allows the use of smart contracts. It facilitates automated transactions with tokens on the Ethereum blockchain.

5) Dogecoin (DOGE)

The coin has earned a high mining rate since its inception. It's still on the speculative stage and hasn't crossed the dollar mark. However, it has a larger circulation and unlimited capacity to mine more.

6) Binance Coin (BNB)

Like Bitcoin, it has a limit on the number of tokens that it circulates: 200 million coins. It also follows a quarterly routine of destroying or "burning" much of its currency around the year. These are major reasons for its soaring value.

7) Polkadot (DOT)

This currency provides a bridge for networks so that many applications built on Polkadot can also work on Ethereum and Bitcoin. However, it is more scalable and faster.

8) Tether (USDT)

It became one of the first cryptocurrencies pegged to the US dollar. It is a blockchain-based cryptocurrency. The coins are backed up by fiat currencies kept in banks.

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Which Is The Best Cryptocurrency For Long-Term Investment? Find Out - NDTV Profit

New Delhi: The largest cryptocurrency Bitcoin is currently down by 0.90% over the past 24 hours and has been trading around $51,316. BTC touched its all-time high of $64,000in April. Ethereum also dropped in value along with other popular coins like Dogecoin, XRP, and Cardano.

As we all know the crypto market is very volatile which means that you can see large swings with no notice, thus people find it very risky as you can witness a sudden fall.

An upswing can work wonders in your favor but a downward trend can leave you with less money than you put in. You might also be not able to access your investment portfolio if it goes down.

Which coins prices are down?

BTC is down by 0.90% and is trading at $51,316 where the 2nd largest coin Ethereum is also down by 6% and is trading $3,720. Altcoins like DOGE and SHIB were also down.

DOGE is down by 7%, on the other hand, SHIB is down by 7.20%.

When will it recover? Read here

Why the crypto market is down?

The Crypto market has already suffered series of blows apart from its regular volatility and it is difficult to mark a common problem that can state that why markets are down today.

As per Forbes, JP Morgan analysts warned that the markets may be down due to a correction following retail investor mania. Last month hackers stole around $600 million in a crypto heist and it can after a series of crackdowns that affect the whole world

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Why is the cryptocurrency market down today? Read here - Newsroompost

Cryptocurrency prices today surged with Bitcoin trading near $50,000, days after it broke back above the psychologically important mark last month for the first time in three months. The world's largest cryptocurrency by market capitalization jumped 6% to $49,678.59, as per CoinDesk. Bitcoin prices are up 71% this year (year-to-date), though, far away from its record just below $65,000 in April.

Ether, the coin linked to ethereum blockchain and the second largest crypto, rallied over 9% to 3,769.62 Meanwhile, dogecoin prices gained 10% to $0.30, whereas, Cardano was up 8% at $2.98. Other cryptocurrencies like XRP, Stellar, Uniswap, Litecoin also surged in the range of 5-10% over the last 24 hours.

Global cryptocurrency exchange Binance's founder and chief executive officer Changpeng Zhao said that its US arm could have an initial public offering in the next three years, The Information reported on Wednesday. "Binance.US is just going to do what Coinbase did," Zhao said, according to the report.

Meanwhile, investors continued to pour into digital funds based on altcoins, such as ether and cardano, even as bitcoin funds logged their eighth straight week of outflows last week, digital asset manager CoinShares said. Altcoins is a cumulative term to define cryptocurrencies that came after bitcoin.

Bitcoin hit a record of almost $65,000 in April, driven by a tide of liquidity, fast-money bets and optimism about growing demand from institutional investors. Supportive views from billionaire Elon Musk and the direct listing of digital-currency platform Coinbase Global Inc. also fueled optimism.

(With inputs from agencies)

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Cryptocurrency prices today: Bitcoin near $50,000; ether, dogecoin surge 10%. Latest rates - Mint

By Matthew Sparkes

Will the cryptocurrency be more widely used now that PayPal accepts it in the UK?

mundissima / Alamy

PayPal has two decades of experience in online payments and manages 403 million user accounts. So, it caused ripples when it announced on 23 August it would allow UK customers to buy and sell four cryptocurrencies: bitcoin prices rose to a three-month high. But will this and last Octobers roll-out in the US push cryptocurrencies into the mainstream, or is it just another blip in the short but volatile history of decentralised money?

Customers in the US who have bought cryptocurrencies through Paypal log in twice as often as those who havent, says Jose Fernandez da Ponte at PayPal. We expect digital currencies to play an important role in consumer payments over the longer term, he says.

Public interest in bitcoin and other cryptocurrencies is certainly growing, but only a minority have bought in. AYouGov survey revealed that by August 2019, just 3 per cent of people in the UK owned any cryptocurrencies. By July 2021 that had risen to 8 per cent.

Giving millions of existing PayPal customers the ability to buy at the click of a button has enormous potential for increasing those numbers, but access to the currency isnt the only limiting factor.People need a way to spend it.

A handful of large companies, such as Microsoft, have begun accepting bitcoin as payment, and others such as electric car company Tesla have done so at times too. And while several other retailers, including grocery stores, coffee shops and hardware stores, have systems to accept cryptocurrency in some countries, using only this form of payment day-to-day would be no easy task.

PayPal users in the UK wont be able to use cryptocurrency to buy goods or services they can only buy, hold and sell the currency. But in the US, the company offers the ability to use balances for payments anywhere that accepts PayPal. This effectively allows hundreds of thousands of retailers to accept cryptocurrencies without having to make any changes or accept any risk, and receive US dollars from PayPal as normal.

This is vital, as the risk for businesses is high, says Carol Alexander at the University of Sussex, UK. Cryptocurrencies are dominated by huge speculation and rampant manipulation, she says.

Organised groups are able to cause swings in cryptocurrency values with coordinated buying or selling and, unlike the traditional financial services sector, there is little regulation to stop it. So, if you take bitcoin as payment directly, it may plummet in value before you convert it.

I cant see this as the moment crypto goes mainstream. The widespread market abuse needs addressing first, says Alexander.

Cryptocurrencies are decentralised systems with no official oversight, so regulation is difficult. Registered companies that deal in them are finding themselves under increasing scrutiny. In June, the UKs Financial Conduct Authority ruled that Binance Markets Limited, one of the worlds largest cryptocurrency exchanges, had to cease regulated trading in the UK.

There are still hurdles to overcome before cryptocurrency can truly break into the mainstream,including its exorbitantenergy use, volatility and complexity.

But some are still confident that the technology offers enough benefits, such as protection from inflation, a degree of anonymity and low fees for large payments, that widespread adoption is inevitable.

Nigel Green at financial services firm deVere Group is confident that cryptocurrencies will replace traditional money and, although that moment is still some way off, he says PayPals announcement is yet another example that exposes cryptocurrency deniers as being on the wrong side of history.

This is a major step forward towards the mass adoption of digital currencies, he says. More and more payment companies will naturally follow their lead.

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Will PayPals adoption of bitcoin make cryptocurrency more mainstream? - New Scientist News

As the cryptocurrency market is extremely volatile, it is always smart to start small

Cryptocurrency has become very popular among investors. Not only has the crypto market seen an increase in investors, but it has also started to gain acceptance in many organisations as an alternate mode for payment to fiat currency. Many top companies have begun to offer their customers the option of paying for their products using cryptocurrencies. However, despite all this cryptocurrency is still a highly volatile asset class that is also decentralised. So, it is important for all investors to keep the following points in mind before investing.

1) Research thoroughly

As is the case in all money-related matters, it is important to do an adequate amount of research before you invest. Read all about the different types of cryptocurrencies before picking the one you choose to invest in. Read all there is to know on blockchain technology to understand how the cryptocurrency market functions.

2) Verify all information

As the crypto market is decentralised and unregulated, there are several scammers and fraudsters aboard. Do not blindly fall for investment schemes that promise great returns. Always verify before trusting.

3) Start small

As the saying goes, never put all your eggs in one basket. It applies to investments as well. As the cryptocurrency market is extremely volatile, it is always smart to start small. And pick only one type of cryptocurrency and stick to it until you feel confident enough to understand the market. Invest small amounts of money.

4) Rely on your own research

The cryptocurrency market is new for everyone. So, do not fall for the investment strategies of so-called market experts or social media influencers. Rely on your own research and chalk out your own strategy based on your personal finances.

5) Patience is key

The volatility of the cryptocurrency market knows no bounds. So, it is important to remain patient despite all the swings that occur. Keep your cool always as it will help to make good decisions.

6) Create a new email ID

All cryptocurrency trades take place via various platforms that require you to create an account using an email ID. It is always best to create a separate one only for cryptocurrency trades and investments. This is to avoid any risk of a data breach.

7) Understand cryptocurrency wallets

Cryptocurrency can be stored in an online wallet as well as an offline wallet. For new investors, an online wallet is best. However, it runs the risk of being hacked. Read up on both wallets and choose one that best suits you.

8) Do not store all your money in a mobile wallet

While having mobile wallets is extremely convenient, they also carry the risk of being hacked and stolen. Hence, it is always best to not have all your cryptocurrency stored in a mobile wallet.

9) Read all about tax on cryptocurrency

As cryptocurrency is unregulated in many countries, trading in it could draw heavy taxation. Read all the information relating to taxes on crypto investments in your country before you begin investing.

10) Do not blindly jump on the crypto bandwagon

Yes, cryptocurrency is very popular and has several people diving right into investing and trading in it. But that does not mean you should too. Do not blindly jump on to the cryptocurrency bandwagon. Assess and take stock of your own personal finances before making a move.

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Interested In Cryptocurrency? Here Is A 10-Point Guide On Investing - NDTV Profit

Moving average in the field of finance including cryptocurrencies is a stock indicator commonly used by investors for technical analysis. Among the most important reasons for the calculation of a moving average is to mitigate the impact of sometimes random or short-term fluctuations in the prices of any stock and cryptocurrencies are especially prone to extremes. The other reason, of course, is to constantly update the average price of a stock for a selected period of time. It is also referred to as a lagging indicator as it is based on the past prices of a given stock.

And just like it is used for any other stock, moving average also helps an investor analyse the trend of a cryptocurrency not just in the present but also the future by making use of the past prices. In simple words, it gives investors have a better picture of what they are going to make on their investments should they invest in a particular digital currency.

How to calculate a moving average for cryptocurrencies?

The method is fairly simple. It's the application that's more important. For example, if you want to calculate the five-day moving average for Dogecoin, this is how you do it:

The closing prices of Dogecoin in the last five days, let's say, were 10, 13, 14, 11, and 12, respectively. Now, add the prices for the last five days and divide the total by 5.

10+13+14+11+12 = 60/5. The answer is 12, which is the moving average of Dogecoin relative to the last five days.

Dogecoin price in India stood at Rs. 22.7 as of 3:30pm IST on September 3.

Importance of moving average in cryptocurrency investments

Experts say that when the prices of a stock are below a moving average, it's an indication to traders of a bearish trend, which means both price and sentiments are trending down. On the contrary, if the prices are above the moving average, it's a sign of a bullish trend. However, other indicators, including the relative strength index, should also back the moving averages.

Among other important functions, a moving average can also help gauge the momentum, which basically measures the rise or fall in the prices of a cryptocurrency. With the help of a moving average, one can attempt to forecast, if not accurately pick and predict, the trajectory of a cryptocurrency in the days to come. This helps an investor better decide if they are making a safe and sound investment.

As we explained before, the greater the number of days the bigger is the lag. The traders actually use these figures based on the number of days to decide on whether or not they should invest in a digital asset or a cryptocurrency token.

The other advantage, of course, for traders in terms of calculating a moving average is that they can customise the time period to check the average prices according to their own needs. Moving average for a smaller period is naturally more price-sensitive compared to an average calculated for a longer period of time.

Remember, the moving average is only an indication of the trend and not a tool that sets the trend. You only get a picture of how a cryptocurrency token has performed relative to the number of days you pick to find the moving average. Cryptocurrency is deemed to be a relatively riskier asset class and the golden rule, as experts say, is to not invest more than you can afford to lose.

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Cryptocurrency Investment 101: How to Calculate Moving Average and Why is it Important - Gadgets 360

Reese Witherspoon has officially the entered the world of cryptocurrency. On Thursday night, The Morning Show actress tweeted that she just bought her first ETH (short for ethereum), and her replies instantly filled up with a welcome wagon full of weird. As for what the heck an ETH even is, and what makes it different than bitcoin, ethereum is the worlds programmable blockchain, which has all sorts of applications. Most specifically, creating NFTs, which have been taking the art world by storm. Via MoneyWeek:

Decentralised finance (DeFi) applications allow for all sorts of financial services decentralised exchanges, for example, or borrowing and lending systems without the need for typical financial intermediaries such as banks or brokerages.

Ethereum allows for the creation and trade of NFTs tokens which are connected to digital works of art and other forms of digital property.

On top of watching her follower count skyrocket, Witherspoon soon found herself inundated with an avalanche of pitches for other crypto-coins, which was to be expected, but she probably wasnt prepared for how bonkers the online crypto crowd can be. Here are just some of the weirdo reactions, and if half of them dont make sense, thats par for the course:

However, Witherspoon getting in on ETH wasnt all welcomes and memes. Some savvy crypto-investors saw her entry as a sign that the price for ETH is about to hit a wall after being on an impressive rally this week, according to Fortune.

It should be noted that Reese was underestimated once before, and you know what she did? Went to Harvard and became a lawyer. True story.

(Via Reese Witherspoon on Twitter)

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Reese Witherspoon Announced Her Entry Into Cryptocurrency, And Whoa - UPROXX