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Black Friday Sales Come Early for Cryptocurrency Investors: 2 Top Tokens That Just Went on Sale

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For investors looking for deals on top cryptocurrencies, the past week featured a potentially early Black Friday sale. The majority of large-cap cryptocurrencies have taken a hit lately, outside of certain groups of digital assets, such as those tied to the metaverse that cryptocurrency investors have tied to.

Unfortunately, the cryptocurrency world seems to be adopting some of the characteristics of other asset classes. Whether that’s good or bad, macroeconomic factors may now play a role in the valuations of these digital assets more than ever.

Image source: Getty Images.

This week, one of the key catalysts driving down valuations in the top-rated asset classes was the appointment of Jerome Powell as chairman of the Federal Reserve. While the market initially seemed to view this new nomination as positive, it became clear that investors are likely pricing in a more cautious option. This sell-off continued through Tuesday and Wednesday, with the Nasdaq and cryptocurrency markets under pressure.

Well, for the past decade, investors have certainly been rewarded with a buy-the-dip approach to risky assets. For those who want to do just that, there are certainly some juicy discounts you can jump at on top cryptocurrencies. Here are two great options to consider right now.

Cardano

Currently the sixth largest cryptocurrency by market capitalization, Cardano (CRYPTO: NO) is one of the cryptocurrencies that has come under pressure lately. Since hitting an all-time high of $ 3.10 on September 1, Cardano has lost more than 45% of its value.

One of the main reasons investors like Cardano is the speed and scalability of this network. Cardano can currently reportedly process more than 250 transactions per second, compared to around 4.6 for Bitcoin (CRYPTO: BTC) and 15 to 20 for ether (CRYPTO: ETH). These numbers are expected to increase over time as the network continues to update. For a large-cap cryptocurrency network, Cardano is fast.

Additionally, Cardano’s proof-of-stake protocol has been tempting to investors considering alternatives to Bitcoin and Ethereum. As Ethereum moves towards adopting a proof-of-stake model, Cardano remains one of the largest proof-of-stake networks currently available to investors.

The recent declines that we saw in Cardano appear to be the result of two key factors.

First, the network has seen slower adoption by decentralized financial (DeFi) developers. Cardano’s latest Alonzo hard fork brought Cardano smart contract functionality. Therefore, this token was increased in early August before the launch on September 12th. However, a rather disappointing development on this front has resulted in a corrective sell-off among investors.

In addition, it was announced this week that the cryptocurrency exchange eToro Cardano will be delisting. Regulatory concerns were cited as justification for this decision, although few details were given. Accordingly, investors with Cardano are currently nervous.

However, for those looking at Cardano longer, those short-term headwinds could prove to be a great opportunity to purchase it. As investors continue to look at proof-of-stake networks with smart contract features and growth potential, there is a tangible thesis to own this top cryptocurrency now – especially with a generous discount on recent highs.

Tezos

Tezos (CRYPTO: XTZ) is a cryptocurrency that investors need to find a little further down the list. This is another token that has been hit by the market lately. Since hitting a high of $ 9.18 on October 3, Tezos has lost roughly 45% of its value.

However, I remain optimistic about this cryptocurrency for a number of reasons.

Tezos is a leader in security tokens. By security tokens, I don’t mean the security or integrity of the blockchain itself – in this regard, Tezos scores top marks alongside most of the major digital assets in the market. Rather, Tezos’ Layer 1 platform (a term that refers to actual blockchains and their tokens) enables the tokenization of securities that are normally traded off the blockchain. Think of the different financial products that investors can buy on an exchange (stocks, bonds, etc.).

Essentially, Tezos provides features that allow assets to be traded on the blockchain. By tokenizing various asset classes, investors can safely and seamlessly expand their range of investments on the blockchain.

One of the attributes that make Tezos so alluring in the security token space is the fact that this blockchain is changing itself. Instead of using hard forks (like the aforementioned Alonso hard fork recently implemented by Cardano), Tezos’ blockchain includes an on-chain mechanism for updating rather than requiring simultaneous updates from nodes on the network.

Unfortunately for investors in Tezos, it appears that the increased regulatory risks associated with the cryptocurrency sector continue to create headwinds for networks participating in tokenization. The Biden administration recently switched to taxing cryptocurrencies more heavily. Various investigations by the Securities and Exchange Commission into whether several crypto-related assets qualify as “securities” by law have plagued this sector for some time. And countries like China and India seem to be currently inflexible with their stance on cryptocurrency.

However, those with a longer term horizon may want to think about a future where blockchain technology can really make a difference in the world. In the DeFi area, Tezos, as a leading provider of security tokens, offers a solid investment thesis. This is an area that I think could offer tremendous value in the years and decades to come. Accordingly, investors may want to keep an eye on these tokens at these discounted levels today.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all reflect critically about investing and make decisions that will help us get smarter, happier, and richer.

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Cryptocurrency

Cryptocurrency providers at high risk of financial crime – FMA

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The Financial Market Authority has found that cryptocurrency service providers are at high risk of being targeted by money launderers and terrorist financiers.

Photo: 123RF

The industry received the rating in the FMA’s most recent sector risk assessment (SRA), in which various types of financial service providers were described with regard to illegal financial behavior.

The risk profile for the majority of the nine sectors supervised by the FMA has not changed since 2017.

However, Virtual Asset Service Providers (VASPs) that enable cryptocurrency, token or crypto-asset transactions were added and received the highest risk rating.

“Since our last assessment, the risks of virtual assets, especially cryptocurrencies, have come to the fore,” said FMA supervisory director James Greig.

“Virtual assets allow for a higher level of anonymity and have a global reach, making cross-border payments easy.”

A sector risk rating was determined on the basis of its complexity, liquidity of the transactions and the anonymity granted to clients.

This included the size of the company, the type of products offered, their value, how products can be bought and sold, customer types and country risks.

Virtual Asset Service Providers, or VASPs, that enable cryptocurrency transactions were added to the list and received the highest risk rating.

Virtual Asset Service Providers, or VASPs, that enable cryptocurrency transactions were added to the list and received the highest risk rating.
Photo: Delivered

The FMA expects all reporting offices to familiarize themselves with the risks and weak points in connection with VASPs and virtual assets and, if necessary, to include them in the risk assessment.

The main regulatory agency of cryptocurrency service providers is the Department of Internal Affairs, with the FMA overseeing a very small number of VASPs.

The 2021 sector risk assessment also confirmed the high risks associated with derivative issuers.

This follows on from the recent measures taken by the FMA against a handful of companies that failed to meet their obligations to combat money laundering.

“Derivatives issuers are inherently high risk because their products are highly liquid, accounts are easy to open, and they can have many overseas clients in higher risk countries,” Greig said.

Greig also said the rapid growth of retail investment platforms meant they could be targeted by money launderers as their compliance with their anti-money laundering commitments may not have kept pace.

This became clear at the beginning of the year when the FMA informed the retail trading platform Sharesies of failing to verify the identity of almost 8,000 customers and of insufficient customer due diligence.

“These platforms are highly liquid, so large volumes of trade can take place without suspicion, and customers can quickly create online accounts without personal verification, which favors anonymity,” said Greig.

“While these platforms often have sophisticated systems for monitoring accounts, they need to collect sufficient information about the nature and purpose of the investment.”

The FMA expected all entities subject to the FMA reporting obligation to review the new SRA and update their own risk assessments accordingly and to take into account all new risks and findings, said Greig.

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Cryptocurrency ‘mainstream’ in Australia | Bega District News

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News, latest news

Cryptocurrency has become mainstream in Australia, and according to a survey by a leading exchange, more and more women are punted. More than a quarter (28.8 percent) say they own or have owned cryptocurrencies, according to the Independent Reserve Cryptocurrency Index (IRCI) 2021 published on Tuesday. The proportion of women who deal with cryptocurrencies has doubled this year from 10.3 percent to 20 percent. Despite the amazing volatility, most of those surveyed (89 percent) made or even broke money this year. Adrian Przelozny, CEO of the Independent Reserve, said the sector urgently needs regulation to provide more security for both investors and cryptocurrency companies. “Our IRCI results this year support this as 28.6 percent of Australians who currently do not own cryptocurrency tell us that if there was better consumer protection, they would invest,” he said. Now in its third year, the annual survey of over 2,000 people tracks awareness, acceptance, trust and trust in the cryptocurrency. 26.6 percent said they would buy crypto if regulation of the industry improved. “While Australian regulators and government agencies may have taken a while to delve into cryptocurrencies and other digital assets, the Australians themselves have moved faster and we really see crypto as an asset class from the edge of the mainstream over the past year,” said Przelozny. According to the survey, Bitcoin remains the most famous and popular cryptocurrency ahead of Ethereum. The age group of 24 to 34 year olds trusted crypto the most. 27.6 percent said they shopped to get rich while people over 65 years of age said they did shopping to get rich Stay skeptical. The latest data from the Australian Tax Service shows that more than 800,000 people are making transactions in cryptocurrency. The Independent Reserve cryptocurrency exchange was developed and established in Australia in 2013 and is now licensed in Singapore. Australian Associated Press

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December 7, 2021 – 10:16 a.m.

Cryptocurrency has become mainstream in Australia, and according to a survey by a leading exchange, more and more women are punted.

More than a quarter (28.8 percent) say they own or have owned cryptocurrencies, according to the Independent Reserve Cryptocurrency Index (IRCI) 2021 published on Tuesday.

The proportion of women who deal with cryptocurrencies has doubled this year from 10.3 percent to 20 percent.

Despite the amazing volatility, most of those surveyed (89 percent) made or even broke money this year.

Adrian Przelozny, CEO of the Independent Reserve, said the sector urgently needs regulation to provide more security for both investors and cryptocurrency companies.

“Our IRCI results this year support this as 28.6 percent of Australians who currently do not own cryptocurrency tell us that if there was better consumer protection, they would invest,” he said.

Now in its third year, the annual survey of over 2,000 people tracks awareness, acceptance, trust and trust in the cryptocurrency.

26.6 percent said they would buy crypto if regulation of the industry improved.

“While Australian regulators and government agencies may have taken a while to delve into cryptocurrencies and other digital assets, the Australians themselves have moved faster and we really see crypto as an asset class from the edge of the mainstream over the past year,” said Przelozny.

According to the survey, Bitcoin remains the best known and most popular cryptocurrency ahead of Ethereum.

The age group of 24 to 34 year olds trusted crypto the most. 27.6 percent said they shopped to get rich, while people over 65 remain skeptical.

The latest data from the Australian Tax Service shows that more than 800,000 people are making transactions in cryptocurrency.

The Independent Reserve cryptocurrency exchange was developed and established in Australia in 2013 and is now licensed in Singapore.

Australian Associated Press

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bitcoin volatility, $196M Bitmart hack, new OpenSea CFO

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The entire cryptocurrency market suffered a slump over the weekend.

Bitcoin, the largest cryptocurrency by market value, plunged to a low of nearly $ 43,000 on Saturday night. The price has since bounced back and is currently trading at around $ 49,149, according to Coin Metrics.

Ether, the second largest cryptocurrency, also fell to around $ 3,500 on Saturday. Ether is currently trading at around $ 4,179.

Aside from the volatility this weekend, here are seven things that have happened in crypto over the past week.

1. Metaverse Land Sales Exceed $ 100 Million In One Week

Virtual real estate has become more and more a coveted commodity.

Sales of NFTs, or non-fungible tokens representing Metaverse land, exceeded $ 100 million in the last week alone, cryptanalysis firm DappRadar reported on Tuesday.

The Sandbox, an Ethereum-based metaverse and game that allows users to purchase land and in-game assets as NFTs, had a trading volume of more than $ 86 million. Decentraland, a virtual reality platform operated by Ethereum, had traded more than $ 15 million for land NFTs.

“With record sales and constantly rising NFT prices, virtual worlds are the new top product in the crypto space,” wrote DappRadar in a blog post.

2. Jack Dorsey’s Square changes company name to block

On Wednesday, Jack Dorsey’s payment company Square announced that it was renaming itself to Block effective December 10th.

Block “has many related meanings for the company – building blocks, neighborhood blocks and their local businesses, communities gathering at block parties full of music, a blockchain, a chunk of code and obstacles to overcome,” Block said in a statement.

Square Crypto, a separate part of the company dedicated to advancing Bitcoin, will change its name to Spiral.

“We built the Square brand for our seller business where it belongs,” said Dorsey, co-founder and CEO, in a statement. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to develop tools to improve access to the economy. “

The name change came after Dorsey announced his resignation as CEO of Twitter. Chief Technology Officer Parag Agrawal will take on the role, the company announced on Monday.

3. Facebook withdraws from the crypto advertising ban

4. BadgerDAO DeFi project hacked, approximately $ 120 million loss

On Wednesday evening, BadgerDAO, a decentralized autonomous organization focused on bridging Bitcoin with decentralized financial applications, was reportedly hacked and lost about $ 120 million, according to blockchain security and data analytics firm Peckshield.

An investigation to find out what happened is still ongoing.

Meanwhile, BadgerDAO has frozen all smart contracts, which are digital agreements written in code and stored on the blockchain. Again, according to the BadgerDAO website, users will not be able to request deposits, rewards, or withdraw funds.

This is happening amid many new DeFi-related hacks, which is why financial experts caution against doing thorough research before investing in projects. They recommend investing only what you can afford to lose.

5. Hackers take $ 196 million from Bitmart crypto exchange

The Bitmart cryptocurrency exchange had been hacked, the company confirmed in a statement on Saturday evening.

Bitmart called it “a large-scale security breach” and estimated that hackers withdrew about $ 150 million, but Peckshield estimates the loss was closer to $ 200 million.

In the statement, Bitmart said all withdrawals have been temporarily suspended and a security clearance is ongoing.

As of Sunday, CNBC reached out to several Bitmart employees asking for more clarity about the hack and whether the targets would be reimbursed. CNBC hasn’t heard anything yet.

6. Charlie Munger Says He Wishes Cryptocurrencies “Never Made Up”

Billionaire investor Charlie Munger is still not a fan of cryptocurrency.

“I wish they had never been invented,” said Munger, according to The Australian Financial Review, at the Son conference in Sydney on Friday. “I admire the Chinese, I think they made the right decision to just ban them.”

This isn’t a new attitude for the 97-year-old vice chairman of Berkshire Hathaway. In May, during a question-and-answer session at Berkshire’s annual shareholders meeting, Munger said his aversion to Bitcoin had increased amid the Covid-19 pandemic.

7. OpenSea appoints former Lyft CFO. a

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