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Bitcoin Recoils

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Bitcoin Recoils After Fed’s Hawkish Comments — Ether, Cardano, AVAX, Solana Brace For Weekend Dip

By Newton Gitonga – April 22, 2022

Bitcoin continued to struggle to stay afloat Friday, April 22 after suffering yet another beatdown on Thursday following hawkish comments by the Fed.

As of writing, the pioneer cryptocurrency is trading at $39,943 despite tapping $42,967 on Thursday, accounting for a 5.97% decline in the past 24 hours according to CoinMarketCap. Ethereum also took a hit, albeit losing 5.32%, and is currently trading at $2,976. Other cryptocurrencies also continued to reel under a wider market drawdown with Solana (SOL) Cardano (ADA) and Avalanche (AVAX) bearing the largest brunt among the top ten altcoins, down 8.12%, 4.87%, and 6.09% in the past 24 hours respectively.

In the past 24 hours, 70,968 traders were liquidated, the total liquidations come in at $280.12 million, according to Coinglass data.


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The drop was also mirrored in major tech stocks, with the Nasdaq 100 (NDX) slumping 4% in the last 24 hours.

The havoc has been attributed to hawkish comments by Fed Chair Jerome Powell on Thursday stating that the plan to raise the benchmark U.S. interest rates by 50 basis points (0.5%) “will be on the table” during the next Federal Open Market Committee(FOMC) sitting.

“I would say 50 basis points will be on the table for the May meeting,” Powell said during a panel meeting presented by the International monetary fund (IMF), raising expectations for the move in May. The comments come on the heels of the Fed rolling out an aggressive policy to tame inflation which has climbed to a rate of 8.5%, the fastest in four decades. His assertions have however mostly led to BTC dumping, as investors shield from the effects of an increasingly erratic FED.

“From the investor point of view and especially from an equity point of view, the words are great but there has to be some meaning and there actually has to be some action,” Andrew Maynard, Managing Director and Head of Equities at China Rennaisanse told CNBC on Friday.

That said, traders continue to view Powell’s comments as posing risk to cryptos in the short term and now closely watching macroeconomic indicators. The crypto market seems to still be strongly correlated with the equity market with the 90-day tie-in between the top cryptocurrency and the S&P500 hitting the highest level in BTC’s history. Sadly, the S&P500 does not look so good.

From a technical perspective, traders are closely watching the $40,000 support as we move into the weekend, with $37,800 being the strongest support level in sight. On the upside, Thursday’s swing high of $42,967 continues to pose a stake especially if the weekly candle closes in the red. To kickstart a strong upward move in the short term, BTC must settle above $40,250 and the 100 moving average. If bulls are successful, the price could push to the $44,000 resistance level.

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DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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The Central Hub Of The Markethive Economy – The Wallet

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The Central Hub Of The Markethive Economy – The Wallet

What Does The Wallet Do? 
What Does It Mean For You? 

 

The launch of the Markethive wallet is approaching, so it’s time to start beating the proverbial drum. It is the start of an exciting time with the advent of many integrations to follow the release of the wallet that will bring Markethive into prominence as an unprecedented platform. The combination of inbound marketing, social media, digital broadcasting, video, conference rooms, e-commerce, gamification, etc. 

Markethive is a blockchain-driven crypto economy, all-inclusive, with a distributed database system required for this decentralized, monolithic global project. We’re almost there with the release of the wallet that will initiate entrepreneurial sovereignty and open the floodgates of this divine enterprise with its plethora of systems and services, including the new interface and dashboard. 

We now have a complete working wallet with the Solana Network, and we also have a fully functional crypto merchant account. The Markethive wallet is being polished with the finishing touches, keeping mindful that it’s not just a simple wallet but a comprehensive, dynamic engine centralized for you that powers your platform and business.

Markethive is fundamentally a sophisticated inbound marketing and storefront platform, integrated with a social network, and not just another social media platform you see popping up to counter the media tech giants we’ve come to know as oppressive, censoring you and using your personal data for their own gain. 


Markethive Pay Transaction Example

 

Your Very Own Merchant Account

The Markethive platform is massive, and it lends itself to the cottage industry concept allowing members to monetize the various initiatives within Markethive. It also allows you as an entrepreneur and business owner to facilitate and promote every aspect of your business, including eCommerce payments, right from your business Storefront in Markethive. 

In other words, you will have a personal Merchant Account that you can plug in to your WordPress or Storefront group through Markethive. You will be able to utilize your chosen wallet address for payments relating to your business, and it will keep track of everything for you. You will not have to rely on APIs and third parties that can shut you down at a whim because you don’t go along with their agenda. 

 

The Functionality Of The Wallet

The wallet is not just a wallet to send coins out from Markethive to an exchange. It will house the functioning and tracking of the ILPs, your transactions, subscriptions, statements, payments, and the Vault. The Vault is home for your Markethive Credits, likened to a stable coin. 

You can fund your vault with Markethive Credits via various cryptocurrencies, Bitcoin, Ethereum, Litecoin, Hivecoin, Credit/debit cards, and a payment processor new to Markethive, wise.com. Due to the adversarial nature of PayPal, the processor will not be available. More updates will come as we finalize all the moving parts of this comprehensive mechanism.

With the tightening of crypto regulations by the unforgiving, anti-business sentiment of the US government, it is in everyone’s best interest to stake Markethive Credits instead of Hivecoin. If we were to stake HVC, the regulations require Markethive to report monthly all individuals' staked earnings. This would be a tedious, expensive exercise and not one any of us as a community or individual would want. 

As Markethive Credits are not classed as crypto, it sidesteps these regulations and allows us to accumulate Hivecoin passively. Utilizing the Vault by having an ongoing threshold balance of Markethive Credits is a form of staking. In other words, keeping any amount in the Vault above your monthly commitments (e.g., subscriptions) that are automatically debited from your vault generates interest. 

The higher the threshold balance, the more interest you receive, and it also increases your Hive Ranking, which also increases your interest. You cannot trade or sell your Markethive Credits; they are for purchasing services within Markethive, so the vault can be considered a debit card. 

Equally, it can be used as a bank account, except the interest received from banking your funds in the Vault would be considerably more than a regular bank account. With interest being paid to you in Hivecoin, it also has increased worth as the price of the coin rises. 


Markethive Wallet Example

 

Markethive’s Coin-Only Exchange 

Markethive is also in the process of setting up an offshore corporation to be able to facilitate a coin-only exchange wholly owned by Markethive, similar to Yobit. 

Why is it important to have our own exchange system?

Markethive has a tremendous amount of activity with its coin through its members, so the way to document that for other exchanges to view the millions of transactions is to have our own exchange. This makes it conducive for other coin-to-fiat exchanges to have Markethive on board and allow trading (buy/sell), invoking pre-eminence and increased market value. 

Markethive is not just building a non-purposeful meme coin like Doge or Shiba, nor are we creating a simple exchange. It’s a comprehensive, dynamic platform that will serve humanity on every level imaginable, helping us through these difficult times and into the light where our personal sovereignty will rise in harmony and abundance in the collective.

 

Benefits Of A Reduced Total Coin Supply 

Along with the integration to the Solano Blockchain, Markethive will drastically reduce the total supply of Hivecoin into the low millions (actual amount to be advised). This means the price potential for HVC, through supply and demand, will increase a hundredfold+ and benefit you as a Hivecoin holder.

Think of Bitcoin's total Market supply of only 21 million coins as opposed to the other altcoins with a supply into the trillions. (less supply, more demand, market price increases.)

It will also make Hivecoin kinetic and benefit you when building your business within Markethive with all the tools and services you and others need all transacted with Hivecoin. The implementation of a gamified system will draw people in, which in turn broadens your sphere of influence as you use the system. 

As this activity takes place, it expands the usage, awareness, and adoption of Markethive services, which then drives up the demand for the coin. It creates an alternative economy, a complete ecosystem for entrepreneurs of every caliber making a living online. It makes Hivecoin legitimate as it has purpose and utility, unlike so many other tokens out there that have very little to no purpose and a total supply into the billions and trillions.

 

 

Entrepreneur One Upgrades First Access. Automatic KYC

The Entrepreneur One members will be the first to receive access to the wallet. KYC (Know Your Customer) will also be implemented for all members. Notably, if you register a credit card within Markethive, you will automatically be KYC level two. Uploading your passport or driver's license and utility bill will be classed as KYC level one.    

What this means for you when building your business is that the people you are dealing with in Markethive are verified and legitimate. They are who they say they are, and your level of engagement will be much better and more genuine than on any other social network. 

It’s important to understand that the Entrepreneur One Upgrade will no longer be available upon release of the wallet. Existing, current E1 members will continue to enjoy the benefits of the upgrade, including receiving a 1/10th ILP for every year their subscription is active for up to ten years. The benefits are explained further in this article.  

 

The Premium Upgrade will also launch once the wallet is released, with many benefits for Markethive members. It increases your earning potential and allows you to monetize the initiatives Markethive has implemented. Click here to preview the features of the Premium Upgrade.

There's still time to upgrade to Entrepreneur One and be privy to the complete Markethive system that can be described as a cottage industry with money machines that champions everything else out there. You will be one of Markethive's early adopters and have a rare opportunity to cement your future of self-sovereignty. 

How can you forge your future as an Entrepreneur and get your share of ILPs with the Entrepreneur One Loyalty Program? 

By clicking on the Membership Upgrade tab on the main menu of the home page and following the prompts.

The precarious state the world is in provides us with the opportunity to take advantage of emerging technology to “unhook” from the global majority and its nefarious, corrupt systems.

Markethive truly wants everyone to succeed and have a sustainable business that’s making you a sustained income from anywhere in the world. That’s the Markethive promise, the vision, and what we’re building. 

Be with us at the Sunday meetings at 10 am Mountain time to learn more and stay updated with the latest Markethive news. You’ll find the link to the meeting room in the Markethive calendar.

God Bless you all with Light and Love. 

 

Also published @ BeforeIt’sNews.com https://beforeitsnews.com/promotional/2022/04/the-central-hub-of-the-markethive-economy-the-wallet-3033.html

Tim Moseley

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Cardano Whales On Buying Spree

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Cardano Whales On Buying Spree With Record ADA Holdings As Price Closes In On Bullish Sprint

By Newton Gitonga – April 13, 2022

Cardano’s biggest whales seem to have bounced back after an eight-month-long drawdown that saw investors offset some of their ADA holdings for profit to scoop up more coins.

According to blockchain analytics firm Santiment, despite ADA being down close to 60% from September highs, ADA whales are back to owning the largest supply of coins. ADA whales are entities that hold 10 million coins or more in their wallets.

“Cardano is down -59% since its $3.10 all-time high. However, the asset’s top whales (holding 10M+ ADA) have returned to their largest percentage of supply held in two years, at 46.6%. Note that a large portion of these addresses is owned by exchanges.” Santiment wrote on Tuesday.


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A recent report by the firm has also shown that the group of addresses holding between 10,000 to 100,000 ADA has been accumulating rapidly, as they continuously bought dips since the price started dropping in late September and now hold 16.8% of the available supply./p>

Santiment also sheds light on Bitcoin’s whale behavior, noting that the cryptocurrency saw a steady supply of 4,000 whale transactions exceeding $1M+ Monday through Friday, with mild slowdowns on weekends. It however notes that large increases are needed if the price is to foreshadow March highs./p>


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Looking at Ethereum and other altcoins, Santiment noted that the ongoing FUD could create “buy the dip” opportunities. The firm also mapped out elevated growth in exchange outflows for ETH, noting that “this climb continues pointing to a greater proportion being kept away from exchange sell-off risk.”/p>

That said, ADA continues its struggle to reclaim the $1 price level after slumping along with other major cryptocurrencies as a result of negative macroeconomic events. Two weeks ago, ADA managed to rise above $1 after bouncing off the $0.78 support and breaking a crucial resistance downtrend line before tapping $1.25. That strength, however, seems to have been sapped in the past ten days, with the price falling below the dollar threshold./p>

Santiment has stated that apart from positive fundamentals, for ADA’s price to rise, an uptick in the number of transactions equal to $100,000+ would be crucial. This may perhaps inject the much-needed liquidity to push ADA back to fresh highs. At press time, ADA ($32B Capitalization) is trading at $0.96, up 5,460.20% from its all-time low./p>

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Shanghai Crypto Pyramid Scheme

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Shanghai Crypto Pyramid Scheme With Over 60,000 Victims Busted

By Adrian Klent – March 16, 2022

Key Takeaways

  • Law enforcement agencies in Shanghai have infiltrated a crypto pyramid scheme.
  • The scheme involved over 60,000 victims and 100 million yuan.
  • Chinese authorities have been increasing their oversight of the illegal industry.

Despite ousting the crypto industry from its borders, China has continued to uncover criminal operations related to crypto. A joint law enforcement operation in Shanghai has led to the crackdown of the city’s first crypto pyramid-scheme case.

10 arrested in connection with 100 million yuan crypto scam

The local news outlet, The Paper, reports that the bust was the result of more than six months of investigations carried out by the Economic Investigation Team of the Shanghai Public Security Bureau, together with the Yungpu Public Security Branch.

So far, about 10 persons have been arrested in connection with the dubious scheme which was set up in June 2020. Authorities also claim more than 100 million yuan is involved.

The scammers marketed the scheme to be a “unicorn in the global application field” and “the world’s fastest public chain”, the authorities stated. However, investigations revealed that the elaborately set up company was only running multi-level marketing (MLM) scam, promising participants massive returns for signing up, buying tokens, and referring new participants.

No blockchain or token existed as the scheme was only run through a server, rewarding old signups with funds and new sign-ups.

This has not been the only crypto-related pyramid scheme that Chinese authorities have exposed of late. Last month, Ripple Pay Union, another MLM scam was clamped down. The criminal network claimed to have ties with the American fintech company, Ripple, and its XRP token.

Asides from pyramid schemes, China has also recorded an alarming amount of crypto being used for money laundering and gambling. The crypto that was most commonly involved was found to be USDT according to an analysis by a blockchain forensics firm.

China’s crypto scammers have also involved victims from neighboring countries. Business Standard recounts that victims in Singapore lost over $139 million to Chinese fraudsters last year.

China broadening its crypto crackdown net

China officially declared holding, trading, mining cryptocurrencies illegal last year. Since then it has been going after lawbreakers and putting new regulations in place to ensure there are no loopholes for the crypto industry.

Last week, China’s Supreme People’s Procuratorate disclosed that it prosecuted 1,262 people for laundering crimes involving crypto. The offenders included crypto exchange executives and online lending platforms.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

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The original article written by Adrian Klent and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley