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Cardano (ADA) broke and closed above the downtrend line on Nov. 9, indicating that the selling pressure is decreasing. The bears are currently attempting to pull the price back below the breakout level.
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It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
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Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
Amid rising inflation, the Federal Reserve and the Biden administration continue to message that the situation is “under control,” but equities markets reacted negatively to the news.
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
SafeMoon V2 involves the launch of an upgraded contract that has a change to the coin’s consolidation formula. Consolidation is a DeFi feature that the SafeMoon teams likens to reverse stock splits with the added idea that it will be beneficial for investors. It is a way for the team to “tidy up the numbers” without changing the actual ownership percentages among investors.
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Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
CryptoTV by CoinSwitch Kuber | Kavita Gupta, Founder - Delta Blockchain Fund, FINTECH.TV
Changpeng Zhao increased crypto-asset availability as one of the founders of Binance, which has grown into one of the largest crypto exchanges. Sam Bankman-Fried, co-creator of the FTX digital asset trading platform, serves as another important individual in the industry that impacts trading, decentralized finance (DeFi) and other aspects of the crypto space.
Ethereum’s previous all time high of $4,379.11 was reached in May’s cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 (£3,562.31) as of 2.43pm on Tuesday afternoon.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.
The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them (Cryptography, Crypto Trading, Digital Assets, NFT)