Droppers of btc

2023-10-19 16:59:08 An announcement about the Sundae project has appeared in the public space. Bloggers, stars and opinion leaders are discussing this project.

One of the creators of Sundae published information about the project in Telegram, and 20 minutes later Ilon Musk posted a photo of himself eating Sundae ice cream as a child. It may be a coincidence, but it could also be Musk's idea.

What's known about the project. Something partly crazy, partly grandiose is coming.

Sundae: it's a crypto-token that equates to digital art. According to the project's philosophy, without community appreciation, a Picasso painting is worthless. The value of a work of art depends on community appreciation.

Right now Sundae is available for the price of an ice cream, but in a month the token may be worth $5, and then $50, $100, $1000. With each new purchase, the "Picasso painting token" will become more and more difficult to buy. The current capitalization of the project is only $20 million.

According to the project's White Paper, Sundae holders are expected to receive multi-million dollar dividends, as well as the right to medical and legal insurance, pensions and free use of the corporation's assets.

Investing in Sundae today might be like buying McDonald's stock on the day it opened in 1940 or accidentally buying a Picasso drawing for ten dollars.

The Sundae project was created by the team behind the popular meme token Grimace, which grew in value hundreds of times in six months, making many investors millionaires. Open / Comment

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2023-10-16 18:31:03 Nigerian Central Bank Lifts Forex Restrictions on 43 Items — Market Forces to Determine Exchange Rate

The Central Bank of Nigeria (CBN) announced on Oct. 12 that it had lifted foreign exchange restrictions “hitherto placed on the importation of 43 items.”

In a statement that addresses why the restrictions (initially imposed on June 23, 2015) have been removed, the CBN claimed the measures were forcing importers to source the scarce resources on the parallel market.

On the parallel market where the greenback was, and still is widely available, importers were forced to pay premiums starting from 20% to get U.S. dollars. Some experts on the Nigerian economy insisted then that the official exchange rate greatly overvalued the local currency.

However, immediately following his inauguration as Nigeria’s new leader, Tinubu reportedly ordered the CBN to abandon the fixed exchange rate regime.

The central bank, which is now led by Olayemi Michael Cardoso, said the growing gap between the official and parallel market exchange rate could well indicate that the rate “has not been setting a clearing price.”

The CBN also said the removal of the restrictions would benefit local producers in the form of cheaper imported inputs while consumers are expected to “benefit from cheaper retail products.” Open / Comment

2023-10-11 19:48:02 Standard Chartered’s Research Predicts Ethereum to Hit $8K by 2026 and Eyes $35K Long-Term

After the financial behemoth’s prior forecast of bitcoin (BTC) potentially hitting $50K by year-end and surging to $120K in 2024, Geoffrey Kendrick and his team at Standard Chartered are back with a new report, this time spotlighting ethereum (ETH).

Notably, this $8K projection is merely a precursor to the bank’s ambitious long-term forecast of an ether valued between $26,000 and $35,000.

Yet, it’s worth noting that while the $8K estimate is slated for 2026’s conclusion, the grander valuation is pegged for 2040.

Standard Chartered’s forex and crypto research lead further opined that U.S. regulations around spot exchange-traded fund (ETF) potentials will likely fortify both BTC and ETH.

“The gap between traditional finance and the digital world is narrowing by the day,” Eric Robertsen, the global head of research and chief strategist for Standard Chartered said at the time. Open / Comment

2023-10-08 20:05:10 The Rise and Retreat: Bitcoin’s Ordinal Inscription Wave Ebbs

With more than 35 million Ordinal inscriptions now on record, the inscription surge we’ve been witnessing is showing signs of slowing. Following that day, inscriptions skyrocketed at a significant pace.

However, merely ten days later, the landscape shifted dramatically. Moreover, inscribers are shelling out fewer fees to miners. As of now, miners have pocketed approximately 2,120.92 BTC, translating to around $59 million, from processing inscription transactions. Close behind, 42.4% are labeled “text/plain,” adding up to about 14.93 million inscriptions.

Ordinal inscription sales have taken a notable dip, with a marked drop in sales since the close of June.

Yet, there’s a silver lining. The BRC20 token market has experienced a modest uptick of about 3% this week, reaching a value of $180.31 million. However, the lot of BRC20s today have lost 0.6% in 24 hours. Open / Comment

2023-10-05 18:21:00 South African Crypto Exchange Valr Receives 'Initial Approval' From Dubai Virtual Assets Regulator

The South African cryptocurrency exchange, Valr, recently said it had “won an initial approval” from Dubai’s crypto assets regulator, the Virtual Assets Regulatory Authority (VARA). According to the crypto exchange, winning this approval is a critical step for Valr which is seeking to establish a presence outside South Africa. The approval however does “not allow Valr to undertake any virtual asset services yet.”

Explaining the rationale behind the decision to seek an operating license from VARA, the crypto exchange’s CEO Farzam Ehsani highlighted VARA’s role as a world-leading regulator and his firm’s desire to reach a more global audience.

“For the past 5 years, VALR has been working closely with regulators to inform regulatory frameworks that protect the public while allowing responsible innovation to flourish. This initial approval from VARA is a significant milestone for VALR to bring our products and services to a more global audience under the auspices of a world-leading regulator,” Ehsani said.

Commenting on Valr’s pivot to the Middle East, the crypto exchange’s Head of Growth, Blake Player, cited the region’s significant crypto flows and in particular Dubai’s growing reputation “as a forward-thinking and pragmatic jurisdiction.”

“Setting up in Dubai provides an excellent opportunity to serve the regional market and a global customer base from a crypto and business-friendly jurisdiction,” Player added. Open / Comment

2023-10-02 18:58:02 Crypto Miners Blame ‘Exorbitant Taxes’ for Kazakhstan Exodus

Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry.

Crypto mining businesses, authorized to operate in Kazakhstan, have complained about the high production costs since the government limited their access to subsidized electricity and imposed a progressive scale for a surcharge they are required to pay for the power they use.

The miners highlight that their activities are carried out under license, their data centers are legally connected to the power grid and their computing equipment is duly registered.

The crypto firms also point out that they have voluntarily cooperated with the government in its attempt to regulate the market but noted that the positive effect of this is being undermined by the “ineffective and unbalanced” tax policy, Kazakhstan’s Digital Business news portal reported. Open / Comment

2023-09-29 17:27:01 Bitcoin, Ethereum Technical Analysis: BTC Above $27,000, ETH Reaches 1-Month High

Bitcoin continued to trade above the $27,000 level on Friday, after a surge beyond this point towards the end of yesterday’s session. Ethereum rallied to a one-week high. Bitcoin remained above the $27,000 level on Friday, following a late rise in bullish sentiment towards the end of Thursday’s session.

Following a low of $26,424.95 on Thursday, BTC/USD raced to an intraday high of $27,259.50 earlier in the day. As a result of the move, bitcoin rose to its highest level since September 20, when price peaked at $27,393.00.

Bitcoin chart by TradingView

However, earlier gains have since edged lower, largely due to a collision which took place on the relative strength index (RSI). Looking at the chart, the index was unable to push past a resistance level of 58.00, and has since fallen to a reading of 56.57.

Traders could be awaiting the release of this afternoon’s consumer sentiment report in the United States, prior to deciding their next move.

Ethereum chart by TradingView

Ethereum (ETH) continued to trend higher on Friday, breaking out of a key resistance level in the process. ETH/USD peaked at $1,687.28 earlier in today’s session, which comes a day after trading at a low of $1,620.68.

This surge has resulted in ethereum climbing over a long held ceiling at $1,670, hitting a one-month high in the process. The latest uptrend coincided with the relative strength index moving beyond a ceiling of its own at 57.00. It is now tracking at 58.61. Open / Comment

2023-09-26 18:44:01 Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound Ahead of US Consumer Confidence Data

Bitcoin rebounded from a multi-week low on Tuesday, as markets awaited the latest consumer confidence report in the United States. The latest figures from the Conference Board are expected to show a slight decline, with a reading ofи This will be down from 106.1 the month prior.

Bitcoin was back in the green on Tuesday, as its price rebounded from a multi-week low during yesterday’s session. BTC/USD peaked at $26,421.51 earlier today, which comes following a low of $26,011.47 the day prior.

Monday’s low saw the world’s largest cryptocurrency trade at its weakest point since September 13, after dropping below $25,800. From the chart, it appears that the rebound in price came as a result of the relative strength index (RSI), finding a floor of its own at 45.00.

As of writing this, price strength is now tracking at 45.84, with the next visible point of resistance at the 55.00 mark. Should bulls reach the 55.00 level, there is a strong possibility that BTC will move close to the $27,000 zone.

Ethereum (ETH) also rose higher on Tuesday, after dropping to a key point of support to start the week. Following a low of $1,565.03 on Monday, ethereum rallied to an intraday high at $1,598.10 less than 24 hours later.

Not only did ETH bulls reject a breakout below a floor at $1,565, but also used this as a point of reentry, buying the dip in price. Similar to bitcoin above, the surge came as a floor of the RSI also held firm, acting as a springboard for traders.

ETH continues to hover below the $1,600 level, however, this could change following this afternoon’s consumer confidence report. Open / Comment

2023-09-23 19:07:01 Bitcoin, Ethereum Technical Analysis: BTC Establishes a New Support Point on Saturday

Bitcoin started the weekend in consolidation, as traders seemingly found a new price floor at $26,500. The price uncertainty comes as markets settled following a volatile week, which was headlined by the Federal Reserve rate decision. Ethereum remains below $1,600.

Bitcoin consolidated for a second straight session, with the cryptocurrency hovering around a floor at $26,500. Following a high of $26,786.10 on Friday, BTC/USD slipped to a low of $26,389.30 earlier in the session.

The price of bitcoin has since rebounded, and at the time of writing this is trading at the $26,581.84 level. It appears that the rebound came as the relative strength index (RSI) failed to break out of its own floor at 50.00.

At the time of writing this, price strength is tracking at 50.01, and should this hold, bulls could be tempted to reenter the market. Moving averages continue to signal that there could be an incoming uptrend, with the 10-day (red) trend line still higher.

Ethereum (ETH) remained under the $1,600 on Saturday, despite attempts by bulls to reenter this region. ETH/USD dropped to a low of $1,587.43 to start the weekend, hours after bulls pushed price to an high of $1,599.97.

However, it appears that there could be another attempt to move past this level, with ethereum currently trading at $1,593.07. Unlike bitcoin, an upwards crossover of moving averages has yet to occur, however it seems like this could happen at any point. Open / Comment