Category: Stocks

In the previous edition of weekly crypto news, we talked about Bitcoin and ETH reaching the mark of $44,000 and $2,200, respectively. But who would have thought? On the first day of this week, Monday blues, a huge Crypto Prices Fall awaited us all. Once again, this proved that the crypto landscape is so dynamic. What happened? Crypto Prices Fall: On December 11th, 2023 (Monday Morning), Bitcoin dropped to 5% in the early Asian session. This led to the Bitcoin to fall from $43,800 to $41,780. At the time of writing this news article, the price of BTC stands at $42,206, which is still 4.2% less than the previous year. This is the biggest dip in terms of prices since mid-October when the crypto exchange surged 65% to the price and trading was around $26,800. As soon as this news went viral, The Kobeissi Letter (a renowned digital market analyst) posted on X regarding the same information. In their post, they write, “After its eight straight green weeks, Bitcoin is finally taking a breather. Interestingly, the decline also comes during low volume and liquidity.” Ultimately, they put up a question that is seeking enough attention from crypto enthusiasts. “Is liquidity drying up after the hot run higher?” Somehow, Bitcoin survived this huge price drop-off, but altcoins were the ones that were mainly affected. On December 11th, Ethereum fell over 9%, XRP lost over 10%, Solana plunged by 13% and Cardano lost 14%. However, the self-attracted altcoins have partially recovered from the losses. What are the reasons behind Crypto Prices Fall: 1. Massive amount of Liquidity: Over the past few weeks, crypto scams and stealing have become common practice. According to the Blockchain security firm, November 2023 was the most damaging month for crypto liquidity and scams. Over $363 million was involved in liquidity in November 2023 only. Therefore, this can lead to investors selling their Bitcoin to avoid any kind of liquidity in the future. 2. Funding rates: In the last few days, the funding rates of Bitcoin were overpriced. According to Velo Data’s source, the funding rates for leading cryptocurrencies such as Bitcoin and ETH consistently touched the 0.15%-mark last week. As a result, this led to an overheated perpetual crypto futures market. This can be a valid reason behind the drop in the prices of cryptocurrencies. Many crypto analysts are also saying, “The drop in the prices of Bitcoin is necessary and will benefit the 2024 crypto market. In a crypto market, it is essential to have positive funding rates at a reasonable price. As happened recently, a negative funding rate (overpriced) always results in a market crash or price drop.” Since the prices have dropped, the funding rates will also drop, establishing a positive funding rate. 3. Parabolic Movements: Many crypto analysts have noticed the pattern that indicates the price drop is near. In the last few years, whenever Bitcoin’s price index shows parabolic movements, it can be said that the price drop is near. Since October, Bitcoin’s price has surged, resulting in an organized parabolic pattern. It’s just a theory; in most cases, it has been proven correctly. However, in some cases, this theory is found to be irrelevant.  (Source: CoinDesk’s Bitcoin Live Index) Where is Bitcoin, ETH & SOL Heading? Crypto Prices Fall or Surge According to CrediBULL Crypto, “Whenever we get major flushes at this stage of the market, V-reversals are going to be a lot more common than a typical “sideway basing period” that we have gotten used to seeing.” So, we can expect Bitcoin to do V-reversals through price ups and downs. As per Crypto Rover, this will end the parabolic pattern of Bitcoin’s prices. Instead, Bitcoin will follow the super-exponential pattern, with prices dropping to 39.7K. However, the prices will surge due to the Bitcoin ETF approval. Then, prices will consolidate a bit and show a huge surge in the 2nd week of January. December 11th, 2023, also ends the pattern of Eight weekly candles in green. The last time such formation was made was 2020 during the Bull market. If we talk about Ethereum, Solana, and Cardona’s prices, there is a low probability for them to witness a jump soon. Currently, XRP is stabilizing, while other cryptocurrencies are still suffering. Stay Tuned! The crypto world is ever-evolving and dynamic, and the drop in prices again proved this statement. No one thought that major cryptocurrencies would tank in the healthy days of currency, but they did. Stay tuned with Coin Informer and get the latest updates and news. Make sure to read our upcoming blog, too.

Remember the time when we used to fill our piggie banks? Who would have thought there will be time when we would have a piggie bank with money that we cannot actually see. Yes, we are talking about crypto currency? Have you every wondered how the buzzing world of cryptocurrencies is impacting the economy of globe? Let’s us understand this with a more relatable scenario: A busy market in a small town, where merchants are promoting the new form of currency that surpasses the borders and financial limits. Actually, this is not just a scenario, it is the reality of cryptocurrencies shaping the emerging markets. Traveling back in time: Emerging Markets The traditional financial infrastructure is often limited, leaving most of us inaccessible to the basic banking services. But wait, what if there was a key, a digital key, that help unlock the financial opportunity for the masses? Imagine a small business who wants to expand in the financial market but finds traditional banking service out of reach. Cryptocurrencies is decentralized in nature which present and alternative to surpass the geographical barriers. Cryptocurrency 101:Emerging Markets Before we explore the role of cryptocurrency. Let’s us first understand the what are cryptocurrency actually. Simply put, cryptocurrency is a form of digital or virtual currency that relies on cryptographic techniques for secure financial transactions. Bitcoin is the pioneer that had opened the floodgates, and now there’s a countless of cryptocurrencies, each with its unique features. The Essence of Cryptocurrencies Cryptocurrencies operate on blockchain technology, a decentralized and distributed ledger that records transactions across a network of computers. This decentralized nature ensures transparency and security, making it an appealing option, especially in regions where trust in traditional institutions may be lacking. The Role of Cryptocurrencies in Emerging Markets Now, let’s turn our attention to the heart of the matter – how cryptocurrencies are reshaping the economic landscape in emerging markets. Financial Inclusion: Breaking Down Barriers Bridging the Banking Gap In many emerging markets, a significant portion of the population remains unbanked or underbanked due to the lack of accessible financial services. Cryptocurrencies, with their decentralized and borderless nature, provide an avenue for individuals to participate in the global economy without the need for a traditional bank account. Empowering Small and Medium Enterprises (SMEs) Picture local entrepreneurs gaining access to a global market, fueled by cryptocurrency transactions. Small businesses, traditionally hampered by financial constraints and limited market reach, find themselves on a level playing field with their more established counterparts. Remittances: A Global Lifeline Reducing Costs and Increasing Speed Enter the realm of remittances, a vital economic lifeline for many families in emerging markets. Cryptocurrencies, with their lower transaction costs and faster settlement times, emerge as a game-changer in the world of cross-border money transfers. Mitigating Currency Volatility However, the volatility of cryptocurrencies raises eyebrows. Imagine your hard-earned money losing value during the time it takes to complete a transaction. Fear not, for stablecoins, pegged to fiat currencies, provide a solution by offering a more stable value for cross-border transactions. Regulatory Landscape: Navigating the Unknown As we delve deeper into the impact of cryptocurrencies, we can’t ignore the regulatory landscape. Governments in emerging markets are grappling with the task of harnessing the potential benefits while mitigating risks. The Balancing Act Encouraging Innovation Forward-thinking governments recognize the potential of cryptocurrencies in fostering innovation and financial inclusion. Regulatory frameworks that strike a balance between fostering innovation and protecting consumers are crucial for sustainable growth. Mitigating Risks: Scams and Fraud However, the uncharted territory of cryptocurrencies comes with its fair share of risks. Scams and fraudulent schemes are a dark side that regulators aim to tackle. Striking the right balance between innovation and safeguarding investors is a delicate dance that regulators must master. Conclusion So, fellow explorer, as we bid adieu to the digital frontier of emerging markets, remember that the key to unlocking economic potential lies in the hands of a decentralized, borderless currency – cryptocurrencies. The journey has just begun, and the possibilities are as vast as the digital horizon that stretches before us.

As we consider the rollercoaster year of 2023 for Bitcoin users. Its major highlight was the enormous soar from a shaky start at $16,500 to breaching the $42,000 mark.  Which makes it clear that the Crypto environment is evolving. The year was all about looking into the factors that are shaping the future of Bitcoin. The one that catches the spotlight is the long-anticipated approval of a spot Bitcoin exchange-traded fund (ETF). If you are wondering about what the upcoming year will bring in the platter for Bitcoin, then Here are the biggest predictions of 2024 2024 Predictions: Spot Bitcoin ETF and Market Dynamics: The fervent anticipation surrounding a spot Bitcoin ETF, exemplified by BlackRock’s application, has been a focal point for crypto enthusiasts. If approved, this financial product could revolutionize investor access to Bitcoin. It can pave a way for growth in spot Bitcoin ETF market to a staggering $100 billion. While optimism prevails, uncertainties persist as BitGo CEO Mike Belshe suggests the possibility of additional rejections before positive news surfaces. Bitcoin Halving and Its Significance As we peek into the year 2024, Bitcoin’s future is going to be shaped by several key factors. As of the end of 2023, Bitcoin is anticipated to be steady at around $35,000. It  is an indicator of the price surge in the upcoming year. Moreover, the major highlight of 2024 is the events that occur in April. This event happens every four years. In this event, a new Bitcoin is created with each new block, and it is given to the miner as a reward for creating that block. Halving event in 2024 The chart above, each Bitcoin Halving event in the past has been followed by considerable upward momentum in the price of Bitcoin. Therefore, it is expected that Bitcoin will hit a new ATH of $80,000 in 2024, and the predictions are that it will be at its lowest point, which would be $30,000. Meanwhile, the average price is predicted to be $65,000 in 2024. In essence, it is wise to say that 2024 holds promise for a transformative year in Bitcoin’s journey. Crypto Regulation Clarity and Market Outlook: If you are a regular visitor to the website of Coin Informer, then you should be well aware of the fact that the 2023 year was full of Crypto enforcement actions, with the biggest names of the industry from Binance to Coinbase entangling into lawsuits from the SEC or even the Department of Justice. Additionally, Former FTX CEO Sam Bankman-Fried was found guilty of fraud, and former Binance CEO Changpeng Zhao is facing charges of violating the Bank Secrecy Act. Impact in 2024 With all these events, it is becoming clear that the wild year for Crypto is over. Moreover, Senator Cynthia Lummis expresses optimism for regulatory clarity in early 2024. Lastly, with The Financial Account Standards Board’s rule change about ‘corporates now to have a path to add Bitcoin to the balance sheet as a reserve asset,’ potential shifts in central bank policies could further shape the regulatory landscape. Bitcoin Price Predictions for 2024: Predictions for Bitcoin’s 2024 performance come to the forefront as we navigate the road ahead. Amid expectations of stability around a $35,000 support level by the end of 2023, factors like a potential Federal Reserve interest rate cut and regulatory developments could positively influence Bitcoin’s environment. Moreover, the looming approval of multiple spot Bitcoin ETFs adds a layer of significance, with significant asset managers like Fidelity, WisdomTree, and BlackRock poised to enter the market. The much-anticipated Bitcoin halving event, scheduled for April, holds the potential to trigger a new bull market. Moreover, historical data also indicates that previous halving events had led to substantial price increases. While some of these gains may already be priced high (ATH) of $80,000 is predicted for 2024. At last, the expected low for Bitcoin in 2024 is estimated at $30,000, with an average price consolidating around previous ATHs, settling at $65,000. In a Nutshell: As Bitcoin strides into 2024, the confluence of regulatory developments, the potential approval of spot Bitcoin ETFs, and the upcoming halving event set the stage for a transformative year. Moreover, with a bullish outlook driven by historical patterns and macroeconomic factors, Bitcoin users are waiting for 2024. If you want to get more updates about Cryptocurrency, Bitcoin price predictions for 2024, reach out to Coin Informer. Visit our website for more detailed information.

Hey Crypto Enthusiast! Are you ready to dive deep into the amazing world of cryptocurrency(Crypto Odyssey)? So, grab your virtual scuba gear because we’re all set to unfold the truth of cryptocurrencies – Bitcoin renaissance, Ether, Solana, BNB, and BLUR. From regulatory ripples to technological tides, let’s understand these crypto waters and uncover the potential treasures within. Bitcoin BTC (Buy): Bitcoin’s Renaissance: Crypto Odyssey Bitcoin stands as the elder statesman, and 2023 has been nothing short of a renaissance for the OG crypto. With an astounding 120% surge this year, Bitcoin is capturing the attention of both seasoned investors and curious onlookers. The anticipation for a spot Bitcoin ETF, possibly receiving SEC approval in January, adds a layer of excitement. More than 30 applications are in the queue, and major asset managers, including industry giant BlackRock, are vying for a piece of the action. This potential ETF approval might mark a pivotal moment, unleashing a wave of demand from mainstream investors. The ETF Anticipation The elusive Bitcoin ETF, a topic of much speculation, could be a game-changer. The history of rejected applications by the SEC is well-known, citing concerns about fraud and manipulation in the underlying market. However, this time might be different. Industry experts, like Cosmo Jiang from Pantera Capital, believe that a spot ETF could be a powerful demand driver, potentially reshaping the narrative around Bitcoin. As we approach the fourth halving in April, coupled with ETF anticipation, the stars seem aligned for a bullish environment for Bitcoin. Ether (Hold): Ethereum’s Crossroads As we venture further into the crypto landscape, Ethereum, the versatile second-in-command, presents a different narrative in 2023. While Bitcoin basks in its glory, Ether’s growth has been more measured at 65%. Regulatory uncertainties in the U.S. continue to cast a shadow over Ethereum, leaving many investors hesitant to fully embrace the digital silver to Bitcoin’s gold. Awaiting Congressional guidance on the classification of tokens as securities or commodities adds another layer of complexity to Ether’s journey. Efficiency vs. Growth A little over a year since Ethereum’s significant upgrade aimed at enhancing efficiency and reducing environmental impact, questions linger. Despite structural overhauls, key metrics like transactions per second and active users are not showing the anticipated growth. The evolving landscape of Ethereum demands careful observation, as it navigates the delicate balance between innovation and regulatory scrutiny. Solana (Buy): Solana’s Phoenix Moment Solana, once considered Ethereum’s formidable rival, faced a setback with the collapse of FTX. However, it has risen from the ashes with a remarkable 313% surge this year. Solana’s technological prowess, boasting transaction speeds of 4,000 per second with the potential to reach 50,000, positions it as a serious contender in the blockchain space. Learning from the aftermath of FTX’s downfall, Solana has managed to shed its stigma, soaring to new heights. Scalability and Potential Power Solana’s scalability is its claim to fame. While Ethereum processes fewer than 15 transactions per second, Solana already handles 4,000, with the potential to go much higher. This capability positions Solana as a promising solution to the scalability challenges faced by major tech companies. The lessons from its resurgence emphasize the importance of technology in determining the fate of blockchain platforms. BNB (Sell): BNB’s Dilemma The Binance ecosystem, once propelled by the success of BNB, now faces a dilemma following the guilty plea of its founder, Changpeng Zhao. The $4.3 billion fine and Zhao’s agreement to step down as CEO have sent shockwaves through the BNB market. Down more than 12% in the last day, BNB’s future is uncertain. With its value derived from its utility within the Binance ecosystem, a mass exodus of traders could raise questions about BNB’s viability. Loyalty Tokens and Exchange Dynamics BNB’s journey mirrors that of FTT, the loyalty token of the now-bankrupt FTX. While FTT still holds a market value of over $1 billion, the dynamics of loyalty tokens are being scrutinized. BNB’s value is intertwined with Binance’s operations, and its future hinges on the resilience of the exchange and blockchain ecosystem. As investors reconsider their stance on BNB, the loyalty token faces an uncertain path. BLUR (Hold): BLUR in the NFT Renaissance In the ever-evolving realm of non-fungible tokens (NFTs), BLUR emerges as a noteworthy contender, challenging the dominance of OpenSea. As the NFT market experiences an 82% drop in trading volume, BLUR stands out by offering a unique reward system based on trading volume. The governance structure, combined with the ability to pay royalties and fees, positions BLUR as a major player in the Ethereum-based NFT space. NFT Market Trends The NFT market, though experiencing a recent decline, shows signs of a potential rebound. Major brands like Disney and Nike continue to embrace NFTs, hinting at a broader acceptance of blockchain-based digital assets. As BLUR navigates the evolving landscape, caution is warranted, especially considering the risks associated with unexpected airdrops that can flood the market with tokens. Airdrop Dynamics and Market Caution BLUR’s unique reward system, delivering rewards via airdrop based on trading volume, introduces a fascinating dynamic to the NFT marketplace. As BLUR enters its second airdrop, the growth has slowed, and the token currently trades at 47 cents with a market capitalization of nearly $400 million. The cautionary note here is the potential market flood resulting from unexpected airdrops, underscoring the need for careful consideration in the volatile NFT space. Conclusion: In this odyssey through the intricate world of cryptocurrencies, we’ve explored the diverse trajectories of Bitcoin, Ether, Solana, BNB, and BLUR. Whether you’re riding the Bitcoin wave, holding onto Ether’s promise, considering Solana’s resurgence, reevaluating BNB’s future, or cautiously holding BLUR in the NFT renaissance – the choices reflect the dynamic nature of the crypto landscape. Eager to stay ahead of the crypto waves? Dive into Coin Informer, your trusted source for the latest updates, insights, and trends in the cryptocurrency realm. Navigate the crypto seas with confidence and stay informed in this ever-evolving world of digital assets. Happy trading, fellow crypto explorers!

Binance Paying $4.3 Billion as a fine, exiting the U.S., and the resignation of Zhao from the position of Binance CEO wasn’t enough that this week brings one more shock to Binance, particularly to Changpeng Zhao. Base, a blockchain scaling solution for ETH, is making heads turn off the entire crypto industry. But what is the reason behind this? Is the debate on the implementation of the digital euro justifiable? And if it is, how? How much worth of cryptocurrency was stolen in November alone? We know these questions might be making your heads scratching. But, by scratching, you’ll not get the answers. Read our latest news article based on this Weekly Crypto News to get accurate answers to these questions. U.S. District Court Judge Bans Binance’s Changpeng Zhao to Return UAE Before Trial Gets End: Weekly Crypto News Last week, the whole crypto industry was shocked when the US DOJ (Department of Justice) demanded Binance accept certain conditions (Paying 4.3 billion Dollars, permanently shutting services in the U.S., and the resignation of CEO Zhao) to resolve its ongoing anti-money laundering case. This news was making headlines all over the globe, but in the early days of this week, the DOJ gave Zhao another shock, specifically. On November 27th, 2023, U.S. District Judge Richard Jones made a decision, which goes like this, “It is ordered that the condition permitting the Defendant (Zhao) to return to the UAE pending sentencing is stayed until such time as this court resolves the government’s motion for review.” The decision was made after Zhao’s legal team approached the U.S. District Court, requesting permission for Changpeng Zhao to return to the UAE before his court trial. Base, a Layer-2 Scaling for Ethereum, Passes $10 Million as its Total Revenue: Weekly Crypto News Base (a Layer-2 blockchain scaling solution for Ethereum) has made massive earnings since its launch in August 2023. The Base uses Optimism technology to boost Ethereum’s scalability and security. On November 28th, 2023, Erick Smith (a chief investment officer at 401 Financings) approached X (formerly Twitter) to share Token Terminal’s data, indicating a significant growth in Base’s revenue. As per data, Base has earned revenue of more than $10 million since its launch. There are predictions that Ethereum will witness substantial growth in the future. It’ll be interesting to see how the surge in Ethereum’s price will impact Base’s stability. US DOJ’s Decision Against Binance & CEO Changpeng Zhao is ‘Absurd,’ Arthur Hayes Argues: Weekly Crypto News Last week, the US DOJ made a decision against Binance and its founders in an anti-money laundering case. As part of the criminal charges, Binance has to pay a $4.3 billion fine and permanently exit from the U.S. On top of that, CEO Zhao had to resign from his position as part of criminal charges. The moment this news became viral, netizens on X divided it into two sections: one in support of Binance and the other against it. Well! Don’t know about others, but it is pretty sure Arthur Hayes is definitely in the support of Binance. He didn’t say it directly, but he seems like. On November 28th, 2023, Arthur Hayes (a former BitMEX CEO Arthur Hayes) wrote in his new essay posted on Substack, “Binance and its founder, Changpeng “C.Z.” Zhao, have been treated the way they have been in the U.S. because the crypto exchange- and other centralized exchanges- represent a threat to the traditional American-led global financing system. Compared with penalties given out to large traditional financial institutions, those handed out to Binance and C.Z. are “absurd” and highlight “the arbitrary nature of punishment at the hands of the state.” Many individuals on X also noticed Arthur neither supported Binance nor made a comment against it. Basically, he accused the U.S. state administration of being crypto skeptics. Unlike past cases, such as Goldman Sachs, where its CEO Lloyd Blankfein helped the former Malaysian PM steal more than $10 billion, it was kept uncovered in 2015. Though the company was fined $2.9 billion in 2020 for its wrongdoings, charges were still not as extreme as they are in the case of Binance. Digital Euros are Better than Bank Deposits, Ordóñez (the former governor of Spain): Weekly Crypto News On Tuesday, November 28th, 2023, Miguel Fernández Ordóñez (the former governor of Spain) gave some shocking statements on the digital euro. Attending a public hearing hosted by the European Parliament’s Committee on Economic and Monetary Affairs, said, “Digital euros are euros, but bank deposits are not euros. Deposits are just promises to pay euros, and if banks can’t fulfill those promises, then you get crises emerging.” Basically, he is advising people to use digital euro instead of bank deposits. But is this advice 100% correct? No! It’s certainly not. Many critics and market analysts gave different points of view, but the most sensible one is given below: The debut of the digital euro will be a big threat to the banking sector’s stability as an individual wouldn’t have to deposit insurance or prudential requirements. Ultimately, the majority of people will start preferring digital euro. To resist this situation, the European Union plans to propose digital euros with individual holding limits. Still, this is just a theory; it’ll be hard to implement. It will be interesting to see how lawmakers of the European Union will solve this problem. November 2023 was the Most ‘Damaging’ Month for Crypto Scams and Stealing: Weekly Crypto News Who would have thought a few years back that crypto scams and stealing would be so common in 2023? But unfortunately, it has, and in November, crypto scams have reached a new peak. According to the Blockchain security firm, cryptocurrency worth $363 million was involved in crypto thievery. Certik Alert shared valuable information on their X (formerly Twitter) account. The cryptocurrency worth $316.4 Million was exploited, $1.1 million came from exit scams, while flash loans inflicted $45.5 million. The largest crypto scam occurred on Poloniex and HTX, where crypto worth $131.4 million

According to recent updates, the U.K. Government has issued a call for Crypto users to voluntarily disclose any unpaid capital gains or income taxes associated with their crypto holdings. This development is part of a broader effort to regulate the rapidly expanding crypto market and a way to make sure that users are paying their Crypto Tax. The call, made on Wednesday, is accompanied by guidance about the process of reporting and paying taxes on various crypto assets, including exchange tokens such as Bitcoin (BTC), non-fungible tokens (NFTs), and utility tokens. Other countries supporting Crypto Tax decision: The U.K. is not alone in this race, as there are other countries around the world that are looking for a way to regulate and tax the growing Crypto market. Here are the countries that are included: USA The United States, for instance, has been intensifying efforts to make sure that each country can have crypto tax compliance. The Internal Revenue Service (IRS) has been actively seeking information about crypto transactions and unreported income. Failure to comply with tax obligations in the U.S. can result in penalties, fines, or legal actions. Australia: Similarly, Australia has been taking steps to enforce crypto tax compliance. The Australian Taxation Office (ATO) has been vigilant in monitoring crypto transactions. They want users to report their crypto gains and losses. Non-compliance can lead to penalties and audits. Canada: Additionally, Canada has also been actively addressing tax implications related to cryptocurrency. The Canada Revenue Agency (CRA) has provided guidelines on reporting crypto income and has initiated efforts to identify and penalize non-compliance. States of Europe: In the European Union, various member states are working to establish consistent regulations for crypto taxation. The focus is on ensuring that cryptocurrency users fulfill their tax obligations, and failure to comply may result in penalties. The evolving global landscape indicates a shared commitment among governments to address the challenges posed by cryptocurrency transactions and enforce tax compliance. Global Collaboration for Crypto Tax Compliance: Beyond individual efforts, there is a growing trend of international collaboration to address the complexities of crypto taxation. Countries worldwide are recognizing the need to work together to establish uniform standards and share information to ensure comprehensive regulation. This collaborative approach is evident in forums like the G20 and FATF, where discussions on crypto regulation and taxation have gained prominence. G20: The G20 has become a platform for major economies to collectively address challenges posed by cryptocurrencies. Leaders and financial authorities from member countries engage in dialogue to develop strategies that promote transparency, mitigate risks, and ensure tax compliance in the crypto sphere. The collaborative initiatives include information exchange agreements to track cross-border crypto transactions and address potential tax evasion. Financial Action Task Force: Moreover, international organizations like the Financial Action Task Force (FATF) are actively involved in setting global standards for cryptocurrency regulation. The FATF provides guidelines and recommendations to its member countries. The ones that are aiming to create a consistent and robust framework for regulating digital assets. This concerted effort emphasizes the recognition that the decentralized and borderless nature of cryptocurrencies requires a coordinated global response. In a Nutshell: The U.K.’s call for voluntary disclosure of unpaid crypto taxes is part of a broader international effort to regulate the cryptocurrency market. It is also a way to make sure that users fulfill their tax responsibilities. As governments worldwide grapple with the unique challenges posed by the crypto space. Moreover, the trend of increased scrutiny and enforcement of tax obligations is evident. Cryptocurrency users are advised to stay informed about their respective countries’ tax regulations and proactively fulfill their reporting requirements to avoid potential penalties and legal consequences. The evolving regulatory landscape emphasizes the need for collaboration between governments, tax authorities, and the crypto community. The aim of all is to establish a transparent and accountable framework for the taxation of digital assets.

So far, November has been proving to be Santa Claus for the crypto market. After the disastrous price trend in the last few months, significant cryptocurrencies are witnessing an upward trend in November. Bitcoin is reaching a new height in terms of price range day by day, and ETH and other tokens are also growing at reasonable rates. That’s enough about leading cryptocurrencies, and if you’re a crypto investor, you must have invested in it. However, this time, you should also consider investing in other cryptocurrencies. Let’s look at the top November’s crypto picks other than famous ones (Bitcoin, ETH) predicted to surge in their prices this month. 1. Cardano (ADA): November’s Crypto Picks In 2023, Cardano (ADA) has made a place in the list of popular cryptocurrencies. And there is no lie in it. In the recent Cardano summit a few days ago, The Cardano Foundation introduced ‘Ledger Sync, an innovative tool to improve the developer experience on its blockchain platform. Inefficient data retrieval is one of the biggest challenges on Cardono’s blockchain platform. Therefore, to solve these issues, Ledger Sync has come into action. This innovative tool will soon be released as an open source to diversify Cardano’s developer community. Besides the remarkable introduction of ‘Ledger Sync’, the current market price also looks incredible for ADA. After the disastrous performance from August to October, the price rate of Cardano is witnessing a positive trend in November. As of 13:17 (UTC), the Cardano price stands at $0.369 with a total market cap of $12.89B. (Sources: Coin Desk’s Crypto Price Index) The latest trends indicate that ADA will grow more in the upcoming weeks. 2. Solana: November’s Crypto Picks Like Cardano, 2023 wasn’t looking great for Salona until November arrived. In mid-September, the prices dropped considerably, slipping to $17.64$. From there, the Solana prices started growing. As of 13:17 (UTC), SOL tokens are trading at $62.81, with a 17.46 growth over 24 hours. Moreover, Solano has experienced 178% growth in its prices compared to last month (the highest of all cryptocurrencies). Moreover, the increased liquidity and growing market cap are encouraging SOL to breach towards $65. So, it is the best time to invest in Solano. (Sources: Coin Desk’s Crypto Price Index) 3. Chainlink (LINK): November’s Crypto Picks   Initially, when Chainlink debuted, it didn’t have the expected support from the crypto community as everyone thought. This would be witnessed by looking at their price at that moment. Slowly but smoothly, Chainlink has found its investors in the crypto landscape. After the good run in 2021-22, 2023 wasn’t much great for Chainlink. But November is looking great for LINK. As of 13:17 (UTC), the LINK price is $14.83, with a 3.09% growth in the last 24 hours.                                                                   (Sources: Coin Desk’s Crypto Price Index) In October, many crypto analysts predicted that if LINK prices reach $10, the prices will witness an excellent positive trend. Luckily, the prices did reach $10 and are currently sitting at over $14. As we go by the predictions, it is possible to breach towards $17, too. 4. Ripple (XRP): November’s Crypto Picks Over the past few months, the price of Ripple (XRP) has always fluctuated due to a court case with the SEC. But, with the news of Ripple winning the court case against SEC back in August, it has to be most ‘THE NEWS’ of the crypto landscape 2023. The victory of Ripple against the SEC indicated investors to witness a massive increase in XRP’s price rates. But, the rise in the price wasn’t up to the mark. Nevertheless, over the past months, XRP did make an incredible growth. During the first week of November, when most cryptocurrencies, including Bitcoin, ETH and Solana, showed a considerable price surge, XRP was still lagging with minor growth.        (Sources: Coin Desk’s Crypto Price Index) As of 13:17 (UTC), the XRP price is $0.63946, with a 1.73% decrease over 24 hours. Due to the increase in selling price, two theories are being made regarding the price prediction of XRP. Theory #1: If the Ripple price fails to hold at $0.6187, there’ll be a downward trend. The prices can fall to $0.5981 with a 10% dip and even further below $0.5837. Theory #2: If the price withstands the upper trendline, the price will surge to $0.7500 and even further with 20% growth. Crypto analysts have different points of view regarding each theory, but many expect XRP to show a massive surge. So, if you want to take a chance, buy XRP tokens and enjoy the profits in a few weeks. Keynote: As a crypto enthusiast, you may know this world is dynamic and ever-changing. So, predictions and lists are made according to current market analysis. Take our information as a guide, but the decision to invest in any cryptocurrency should be solely based on your personal point of view regarding market trends. Besides this, don’t forget to read our next blog post, where we’ve discussed the top crypto headlines of November this week. Stay tuned for more updates!

In a never-stopping world of Cryptocurrency, where fortunes can change with the blink of an eye. The recent developments have sent shockwaves through the market, causing a sharp decline in altcoins. This incident has left investors and enthusiasts scrambling for answers, with the downturn gaining momentum following a surprising twist involving a fake corporate registration for the iShares XRP Trust. Let’s break down the key events and understand the impact of Fake Blackrock XRP Trust Filing on prominent cryptocurrencies like Solana, Avalanche, and Chainlink. The Ripple Effect of a Fake Blackrock XRP Trust Filing: The catalyst for the recent market tumble was a fake corporate registration document for the iShares XRP Trust. This deceptive document, looking almost identical to the real filings BlackRock has made before, caused XRP to shoot up suddenly, reaching a peak increase of around 10%.The crypto community was taken aback by the involvement of BlackRock (a big name in traditional finance) in this incident. However, the upward momentum was short-lived, as a spokesperson from BlackRock promptly denied any affiliation with the filing. Consequently, XRP retraced its gains and is currently trading down 1.8% over the past 24 hours. The incident not only shook XRP but also had a ripple effect on the broader cryptocurrency market. Altcoins Take a Hit: Solana, Avalanche, and Chainlink Suffer Losses The fallout from the fake news hit altcoins hard. Solana (SOL), which had been a standout performer, experiencing more than a 100% increase in price in just a month, faced an 8% loss over the past 24 hours. This abrupt downturn raised questions about the sustainability of altcoins’ recent bullish trends. Avalanche (AVAX) and Chainlink (LINK) also took a significant hit, plunging more than 10% and 13%, respectively. These losses underline the vulnerability of altcoins to external factors, especially when the market sentiment is already on shaky ground. Wider Impact on Cryptocurrency Market: Apart from the particular altcoins directly impacted by the fake BlackRock XRP Trust Filing, the overall cryptocurrency market saw a significant decline. Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, were not immune to the overall negative sentiment. BTC slumped to a session low, down roughly 2% to around $36,500, while ETH gave up earlier gains, remaining flat over the past 24 hours and holding above the key $2,000 level. Analyst Warnings and Market Sentiment: Due to these events, analysts have already expressed concern about the sustainability of the crypto rally. JP Morgan analysts warned in in a recent report that the excitement around the potential approval of a spot BTC ETF might have led to an overly optimistic market sentiment. The recent events with the fake BlackRock XRP Trust filing seem to align with these warnings, exposing the vulnerability of a market riding high on speculative enthusiasm. Moreover, Lucas Outumuro, the head of research at IntoTheBlock, highlighted signs of near-term overheating in the market. However, he also pointed out strong on-chain activity, suggesting that the crypto winter might be over. The recent pullback was triggered by external events. Consequently,  adding a layer of complexity to the ongoing debate about the sustainability of the crypto rally. In a Nutshell: The Cryptocurrency market faces uncertainties stemming from both internal dynamics and external influences. Therefore, investors find themselves navigating uncharted waters. The recent Fake Blackrock XRP Trust Filing incident serves as a stark reminder of the volatility inherent in the crypto space. While analysts continue to assess the broader implications, market participants must stay vigilant and adaptable in the face of unexpected twists and turns. The Journey in the crypto world is filled with excitement and unpredictability. So, one must have an understanding of such events to navigate the digital asset landscape skillfully.

The weekend has arrived, and so has our detailed blog post, making you aware of the top crypto news headlines of this week. In the fast-paced crypto landscape, anything can happen anywhere. Instead of reading different news from different types of resources, Read Coin Informer’s top weekly crypto updates news article. Without further ado, let’s start this. Bitcoin Fees Surges to $6.84 with 970% Growth by Overtaking Ethereum: Top Weekly Crypto Updates (November 8th, 2023) On Wednesday, as per BitInfoCharts, an average transaction fee for using the Bitcoin Blockchain surged to $6.84 with 970% growth. The weird thing is the same numbers were touching $0.64 in August. With this sudden rise, Bitcoin takes over Ethereum to become a top blockchain by NFT sales volume. According to many crypto analysts, the reason behind this rise is due to the increase in minting of Ordinals. Over the past two weeks, around 1.9 million inscriptions were uploaded to the blockchain (as per the digital 21Shares Report). Ordinals are like protocols that offer flexibility to users in storing NFTs (Non-Fungible Tokens) on Bitcoin. U.S Lawmakers Proposed CLARITY, A New Bill, Restricting Federal Government to Not Use China-Based Blockchain Companies: Top Weekly Crypto Updates (November 8th, 2023) On Wednesday morning, the grey clouds took over the Chinese crypto fraternity or community. U.S. Lawmakers propose a bill putting a ban on federal government officials doing business with China-based blockchain companies and networks. The bill, poised to be called CLARITY (Creating Legal Accountability for Rogue Innovators and Technology) Act, would restrict U.S. government officials from tying up all links with China-based crypto platforms. The bill was proposed due to possible links of Chinese governments with the crypto industry (as per internal intelligence sources). In support of this bill, the lawmaker said, The aim of this latest legislation is to ensure the nation’s foreign adversaries… do not have a backdoor to access critical national security intelligence and that Americans provide information. Senator Cynthia Lummis Condemns the Aggressive Nature of SEC’s Actions Towards Crypto Industry: Top Weekly Crypto Updates (November 7th, 2023) Recently, Yahoo Finance took the initiative to interview Senator Cynthia Lummis. The interviewer raised many questions about Lummis’s personal life, past, and her role as a Senator. But, the one statement that attained everybody’s attention was about SEC. In the interview, Lummis strongly condemns the aggressive nature of SEC’s actions towards the crypto industry from 2022-23. Moreover, she also opposed SEC’s new crypto policy (yet to be implemented) ‘Staff Accounting Bulletin.’ She expressed concern if this policy gets implemented, there are high chances of digital asset custodians collapsing. Rain Lõhmus (Founder of Estonia Bank LHV) lost Access to Wallet Containing $472 Million of Ether: Top Weekly Crypto Updates (November 8th, 2023) The crypto world put forward a question regarding the safety of assets in wallets if their keys get lost. This question didn’t come up randomly. There was a big reason behind it. On November 8th, Rain Lõhmus (the founder of Estonia Bank LHV) lost the private key to access the crypto wallets that contain 250,000 Ethereum Units, worth around $472 Million. The news went viral, like Bad Bunny’s song. An individual on X (formerly Twitter) shared an old interview of Rain Lõhmus with Vikerraadio (Estonian National Radio) in late October of the past year, where he states in clear words, ‘It’s no secret that I have a wallet with 250,000 Ethereum Units’. Well! It’s useless to debate the reason behind the loss of the key; either someone hacked the wallet or Rain Lõhmus himself is responsible for this. As to recent sources, Lõhmus is considering all efforts to regain access to the wallet. Llama, a Smart Contract Platform, raises $6M to Encode Roles and permissions for Secure Governance of Blockchain Protocols: Top Weekly Crypto Updates (November 6th, 2023) The benefits of Smart Contract Platforms are no longer alien to the digital world. That’s why, day by day, many investors are investing in the different smart contract platforms. On November 6th, Llama (Smart Contract Platform) proudly announced that the platform has become successful in raising $6 Million in seed funding. The investors in the funding include Electric Capital, Sandeep Nailwal (co-founder of Polygon Blockchain), and Stani Kulechov (founder of Lending Protocol Aave). With this funding, Llama aims to enable protocols encoding roles and permissions to take on-chain actions (such as transferring funds and changing protocol parameters). By doing so, the governance of blockchain protocols will become more effective, resisting hacking and fraud. Ending Statements: That’s it for top weekly crypto updates. It’ll be interesting to see the prices of each cryptocurrency in the upcoming weeks, as analysts are indicating mixed price rates only. So, stay tuned for our next article. For now! Enjoy your weekend, and have an eye on the crypto industry, too.