BITCOIN and Ethereum are going to be traded on Wall Street and Coinbase now allows user deposits to its accounts.
The S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index will measure the performance of digital assets linked to them in the trading rooms, according to Money Control.
Meanwhile, Coinbase will allow its users to deposit paychecks directly into their accounts online, according to CNBC.
Bitcoin and other cryptocurrencies are now on the rise despite falling after China’s central bank announced that all cryptocurrency trading is illegal in the country and that token mining is banned.
Bitcoin fell 5.5% and Ethereum plunged about 6% on Friday, according to Coinmarketcap.
But on Monday, the price of bitcoin has jumped nearly 5% since Sunday and Ethereum has jumped to 12%, Forbes reported.
Read our live cryptocurrency blog for the latest news and updates …
HOT TIPS FROM “FRIENDS”
Multilevel marketing scammers will often use the language of cryptocurrencies to trick people into joining as ‘members’.
Cryptocurrencies don’t have members, they have investors.
Avoid receiving investment advice from friends and family; Instead, turn to price tracking websites like CoinMarketCap, CoinGecko, or CoinPaprika, and always do your research before investing.
Dating app scams and crypto
Some cryptocurrency fraudulent operations have started using dating apps to attract potential targets.
In some reports, the crooks are said to present themselves as a long-distance love interest sharing a new cryptocurrency opportunity.
About 20% of the money that was reportedly lost to dating scams over the past year was in cryptocurrency.
Cryptocurrencies operate on blockchain networks.
Scammers often claim their blockchain is ‘in development’ or ‘about to be released’, but all legitimate cryptos will have an accompanying website to verify the currency.
Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it exists.
EXPERTS PREDICT POLYGON GROWTH
It is impossible to know for sure how the price of Ethereum will change in the future.
However, experts and investors have made some predictions.
Charlie Barton, investment specialist at comparison site Finder, warned in mid-May: “Polygon’s performance has been extremely strong recently, reaching 10,000% growth last year. “
“It’s easy to get carried away, but it’s very unlikely that such aggressive growth will continue indefinitely.”
WHAT IS POLYGON?
Polygon is an Ethereum token that powers the Polygon network, which aims to provide faster transactions on the Ethereum blockchain.
It was originally known as the Matic Network when it launched in 2017.
Polygon peaked on May 18 when it climbed to $ 2.4544.
The price has climbed about 9200% this year, from $ 0.01781 on Jan. 1.
cryptocurrency gift scams
In gift scams, scammers often pose as celebrities or well-known personalities and ask victims to send Bitcoin, promising to return a much larger amount.
Many ad scams are marketed on social media, attempting to connect through Facebook, Twitter or Instagram.
For example, victims said they sent over $ 2 million to crooks posing as Elon Musk.
CHINA PREVIOUSLY CLOSED TRADE IN CRYPTO, PART II
While the creation and trading of crypto has been illegal in China since 2019, new crackdowns this year by Beijing have warned banks to suspend related transactions and shut down much of the country’s vast network of bitcoin miners.
Thursday’s statement from the central bank sent the strongest signal yet that China is closed to crypto.
CHINA PREVIOUSLY CLOSED TRADE IN CRYPTO
The recent crypto shutdown was not Beijing’s first step against digital currency – in 2017, China shut down its local cryptocurrency exchanges.
Despite the war on crypto, Chinese mines fuel nearly 80% of the global cryptocurrency trade.
THE ‘MUSK’ EFFECT ON THE CRYPTO
Elon Musk has once again been linked with activity in the crypto markets.
Earlier this week, Telsa’s CEO tweeted about the arrival of his new Shiba Inu puppy, Floki.
A few days later, the price of the Shiba Inu coin skyrocketed.
ALEXIS OHANIAN ON ETHEREUM CO-FOUNDER, VITALIK BUTERIN, PART THREE
“I have never been so excited about the potential of the Internet,” added Ohanian.
“And that’s in large part thanks to Vitalik Buterin.”
Buterin is the co-founder of Ethereum and also co-founded Bitcoin Magazine in 2011.
ALEXIS OHANIAN ON ETHEREUM CO-FOUNDER, VITALIK BUTERIN, CONTINUED
“No one could have imagined all the uses of Ethereum, but it took a person’s idea to launch it,” Ohanian added of Buterin.
“From there, a new world opened up and spawned new ways to harness blockchain technology, some of which I have invested in.
“Whether it was startups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this would have existed without the creation of Vitalik.”
ALEXIS OHANIAN ON THE CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN
“Thanks to Reddit’s r / Ethereum community, I had the privilege of following Vitalik Buterin’s career from the start, which is why I was proud to see his legacy grow,” Ohanian wrote of the programmer.
“Of course, we can talk about the value he created as a co-founder of the platform, including Ethereum’s impressive market capitalization of around $ 400 billion, the dazzling world of apps. decentralized and this year’s boom in the NFT trade. “
“What makes Vitalik so special is that he is a builder of builders.”
ONE OF ETHEREUM’S CO-FOUNDERS NAMED AT TIME 100 MOST INFLUENTIAL PERSON
One of Ethereum’s co-founders, Vitalik Buterin, was named one of the 100 Most Influential People of 2021 by Time magazine.
Former Reddit executive chairman Alexis Ohanian praised him in a post for the article.
PYTH CAUSES HUGE BITCOIN FALL
According to Bloomberg, an error on Monday caused the Pyth platform to incorrectly show that the price of Bitcoin had fallen to around $ 5,400.
That would have been a catastrophic drop from around $ 50,000 earlier this month.
A number of Bitcoin fanatics have sounded the alarm bells online, but it turns out they have nothing to fear.
Pyth, who provides financial data to a number of large investment firms, confirmed in a tweet Monday that a glitch was at the root of the problem.
NO RETURN GUARANTEED
There are no guarantees when it comes to cryptocurrencies, so when someone mentions “guaranteed returns”, they are often scammers.
There is no way to remove the element of risk from cryptocurrencies, although scammers may try to convince you otherwise.
Check out these other ways to spot scammers in the crypto space.
DOW JONES EXPERT ON THE WALL STREET CRYPTO TRADE
Some cryptocurrencies will be introduced to trading floors on Wall Street, Money Control reported.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
WHAT WILL BITCOIN’S PERFORMANCE MEASURE ON WALL STREET?
The S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index will measure the performance of digital assets linked to them now that digital currencies, including Bitcoin and Ethereum, will be traded on Wall Street, according to Money Control .
HELIUM ON THE RISE
Crypto-helium price predictions have skyrocketed and could be the next cryptocurrency to explode in 2022.
Experts predicted it would be a lucrative investment in the crypto space. as price predictions have intensified ahead of this week’s big launch, as the network connects people through shared hotspots.
WILL THE CHAIN LINK INCREASE TO $ 35?
Crypto investor Justin Bennett sees Chainlink hitting $ 35.
He told The Daily Hodl: “The $ 27.50 area may attract a few sellers as it is the 50% retracement of the correction.
“That said, a daily close above $ 25 should tip the area into support.
“If Chainlink can get past the $ 27.50 zone, there isn’t much to stop a $ 35 run.”
STOCK IN CRYPTO COMPANIES FALLS AFTER CHINA’S ANNOUNCEMENT
Shares of cryptocurrency-related companies Coinbase Global, MicroStrategy Inc, Riot Blockchain, and Marathon Patent Group fell after China’s central bank banned trading and mining of crypto.
“It’s been a very volatile week to say the least, so I think as we approach the last week of September volatility is likely to continue, especially with the end-of-quarter facade,” said Peter Cardillo, economist. Chief Markets Officer at Spartan Capital Securities in New York.
Investors are also looking for signs of progress on President Joe Biden’s spending and bills.
KRAKEN STAFFER TWEETS ON CRYPTO
Dan Held, who is behind Growth for Kraken Exchange, which allows users to buy bitcoin and other cryptocurrencies, tweeted about the crypto on Monday.
“I put my savings in Bitcoin because I have a risk aversion,” he wrote.
CHINA’S CRYPTO REPRESSION IS “A GREAT OPPORTUNITY” FOR US
China’s crackdown on cryptocurrency transactions “is a great opportunity for the United States,” according to Pat Toomey, the top Republican on the Senate Banking Committee.
It comes as the United States Securities and Exchange Commission has pushed for more cryptocurrency regulations.
DECLARATION BY CHINA, CONTINUED
Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.
The crackdown on crypto opens the doors for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.
The PBOC said it would “resolutely crack down on virtual currency speculation, financial activities and inappropriate behavior in order to protect people’s property and maintain economic, financial and social order.”
He said trading in virtual currencies has become “widespread, disrupting the economic and financial order, giving rise to money laundering, illegal fundraising, fraud, pyramid schemes and other activities. illegal and criminal ”.
RISKS OF INVESTING IN CRYPTOS, PART V
Finally, the truth in Promotional material is a risk in investing in cryptos.
Businesses may overestimate product returns or underestimate the risks involved.