28. März 2023 / admin / 0 Comments
• Jan Nieuwenhuijs, a gold market analyst, predicted that gold prices might exceed $8,000 in the next decade due to the current Ukraine-Russia war and the global battle against inflation.
• His proposed price model suggests that each troy ounce of the metal might reach the $10,000 mark if central banks stockpile 51% of their reserves in gold.
• Central banks have been stockpiling gold in recent times, with a record amount of gold purchased in 2022.
Jan Nieuwenhuijs, a gold market analyst, has recently made a bold prediction that gold prices might exceed $8,000 during the next decade. This prediction is based on the current Ukraine-Russia war, as well as the global battle against inflation, which is causing a shift in the preference of central banks for foreign currencies to gold. Nieuwenhuijs has proposed a long-term price model that suggests that each troy ounce of the metal might potentially reach the $10,000 mark.
Nieuwenhuijs believes that central banks in aggregate have an unusual faith in foreign exchange, as gold’s percentage of total reserves accounted for only 16% in 2022, against a historical average of 59%. This is an indication that central banks are starting to lose confidence in the currencies issued by their peers. If these central banks stockpile 51% of their reserves in gold, Nieuwenhuijs predicts that the price of gold would reach $10,000 per troy ounce. Although Nieuwenhuijs believes that central banks will be the ones to spearhead this pivot to gold, he also suggests that private banks and other organizations will likely follow suit.
Central banks have been stockpiling gold in recent times, as evidenced by the record amount of gold purchased in 2022. This is a sign that central banks are beginning to recognize the potential of gold as a reliable store of value. Moreover, as the global economy continues to face uncertain times, the demand for gold is likely to grow as investors seek safe-haven assets.
Overall, the prediction made by Jan Nieuwenhuijs is indicative of the increasing demand for gold as an investment asset. With central banks and other entities beginning to stockpile gold, it is no surprise that the projected price of gold is likely to exceed $8,000 in the next decade. This further suggests that gold may become a more attractive option for investors who are looking for a long-term store of value.
20. März 2023 / admin / 0 Comments
• Hedge fund manager Michael Burry has compared the current banking turmoil to the Panic of 1907.
• Rich Dad Poor Dad author Robert Kiyosaki has warned of more ‚fake money‘ being injected into the U.S. economy and advised people to buy more Bitcoin.
• Credit Suisse received a 50 billion Swiss Franc bailout from the Swiss National Bank.
The global banking sector is in a state of disarray and speculation is rife. Hedge fund manager Michael Burry, famous for predicting the 2008 economic crisis, has compared the current banking turmoil to the Panic of 1907. Burry noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed.
Rich Dad Poor Dad author Robert Kiyosaki has warned of more ‚fake money‘ being injected into the U.S. economy, following the collapse of Silicon Valley Bank and Signature Bank. Kiyosaki has advised people to buy more Bitcoin, gold and silver, as government bailouts begin. Former member of the U.S. House of Representatives and Signature Bank board member, Barney Frank, said he suspects regulators meant to send an „anti-crypto message“ in regards to the bank’s recent failure.
One of the banks to be bailed out is Credit Suisse, which received a 50 billion Swiss Franc bailout from the Swiss National Bank. This comes as the bank has come under increased pressure due to the coronavirus pandemic. This bailout is the largest in Swiss banking history and is part of a greater trend of governments and central banks stepping in to help out struggling banks.
The banking sector is in a precarious situation and it remains to be seen how governments and central banks will respond to the current crisis. In the meantime, many people are heeding the warnings of Robert Kiyosaki and others, and investing in more safe-haven assets such as Bitcoin, gold, and silver in order to protect their wealth.
12. März 2023 / admin / 0 Comments
• Silicon Valley Bank (SVB) has been shut down by the U.S. Federal Deposit Insurance Corporation (FDIC) after its collapse on Friday, making it the largest U.S. bank failure since 2008.
• Various alleged catalysts have been pointed to, such as venture capitalists causing a bank run and the U.S. Federal Reserve’s rate hikes.
• Silvergate Bank and SVB’s collapses have prompted calls for SVB intervention and market observers predict larger financial collapse in the U.S.
The recent collapse of Silicon Valley Bank (SVB) has sent shock waves throughout the financial industry. On Friday, the U.S. Federal Deposit Insurance Corporation (FDIC) shut down SVB, making it the largest U.S. bank failure since 2008. This event has sparked finger-pointing and concerns of contagion, as various alleged catalysts have been pointed to.
Venture capitalists have been blamed for causing a bank run, as the bank was well-known for banking tech startups and venture-backed companies. SVB had a high concentration of deposits from these companies, which may have caused customers to withdraw their deposits. Additionally, the U.S. Federal Reserve’s rate hikes have been blamed for SVB’s collapse, as the bank was unable to access funds at a low interest rate. Economist and gold bug Peter Schiff has also warned of more trouble ahead for the U.S. banking system.
The collapses of Silvergate Bank and SVB have prompted calls for SVB intervention, as many fear the repercussions of the bank’s failure. Market observers predict a larger financial collapse in the U.S., as SVB held $175.4 billion in deposits at the end of December 2022. Customers attempted to remove $42 billion from the bank on Thursday alone, indicating a rapid decline in funds. The bank attempted to strengthen its balance sheet by announcing the need to raise $2.25 billion, and the sale of its available-for-sale (AFS) bond portfolio for $21 billion, resulting in a $1.8 billion loss.
All eyes are on the SVB collapse and its potential to bring about contagion in the financial industry. As the U.S. banking system continues to experience trouble, the FDIC has been forced to take action and shut down the failing bank. Market observers have warned of further trouble ahead, prompting calls for more intervention. Only time will tell if the SVB collapse will cause larger financial repercussions.
4. März 2023 / admin / 0 Comments
• FTX debtors released a presentation on March 2, 2023 that revealed a $8.9 billion shortfall in customer funds.
• The preliminary analysis found that approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered „Category A Assets.“
• The report attributed the shortfall to a cyber attack that occurred the day after FTX filed for Chapter 11 bankruptcy protection, as well as the company’s practices of holding digital assets in sweep wallets that were not segregated for individual customers.
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contained a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation revealed a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered „Category A Assets,“ or liquid cryptocurrencies such as bitcoin, tether, or ethereum. This resulted in a $8.9 billion shortfall in customer funds.
John J. Ray III, FTX’s current CEO, stated that the debtor’s effort had been significant, and he added that the exchange’s assets were „highly commingled.“ The preliminary report attributed the shortfall to a cyber attack that occurred the day after FTX filed for Chapter 11 bankruptcy protection on November 11, 2022. In a now-deleted Telegram chat channel, FTX US general counsel Ryne Miller described the exchange being hacked and that the platform was unsafe.
The preliminary report also mentions that both FTX and FTX US typically held digital assets in sweep wallets that were not segregated for individual customers. The debtors noted that due to the cyber attack, the company’s computing environment was secured and „remains subject to certain restrictions,“ limiting access to crucial data. The report categorizes FTX’s holdings into two groups: „Category A Assets,“ which have larger market caps and trading volumes, and „Category B Assets,“ which have smaller market caps and lower trading volumes.
The FTX debtors presentation also outlined a number of steps the company has taken to secure and recover assets. These include engaging a third-party security firm to conduct an independent audit, implementing a multi-signature wallet system, and establishing a customer fund recovery process.
The FTX case is a reminder of the risks of holding digital assets on exchanges, and it serves as a cautionary tale for investors to consider the security of their funds before entrusting their assets to any digital currency exchange. The presentation is the latest development in FTX’s bankruptcy proceedings, and it remains to be seen if the exchange can recover any of the lost assets.
25. Februar 2023 / admin / 0 Comments
Bullet Points
• Tencent, the Chinese software and tech company, has announced its metaverse suite of services designed to target Asian markets
• Tencent will focus on offering “metaverse-in-a-box” services to its customers through its cloud division
• This move aims to facilitate the task of developing virtual worlds for Tencent customers in gaming, media, entertainment, and retail
Tencent, one of China’s leading software and technology companies, has recently revealed its plans to offer a “metaverse-in-a-box” suite of services. This offering is designed to target the Asian markets and provide assistance to customers in the development of virtual worlds.
The announcement comes as part of the company’s plan to revamp its media services in order to facilitate the task of building virtual worlds for third-party companies. Through its cloud division, Tencent will offer tools for customers in the gaming, media, entertainment, and retail industries to build and design metaverse spaces. With this move, the company aims to bring a more immersive experience and nurture a better Web3 ecosystem.
Poshu Yeung, Tencent Cloud International’s senior vice president, expressed his enthusiasm for the project and stated that the company is ready to leverage its technical experience in the fields of games, audio, and video to provide technical support for Web3. Additionally, the focus on providing “metaverse-in-a-box” services for customers marks a pivot from the company’s previous plans to pursue a metaverse hardware business.
Tencent has revealed that it will primarily focus on providing its services to customers in Singapore, Malaysia, Indonesia, and Thailand. These countries are projected to experience significant growth in the field, making them the ideal markets for the company’s new metaverse suite.
The announcement of Tencent’s new services marks a major milestone in the company’s efforts to bring the metaverse to Asian markets. With the launch of its “metaverse-in-a-box” tools, Tencent is set to revolutionize the way virtual worlds are developed, and take the industry to the next level.
17. Februar 2023 / admin / 0 Comments
• Polygon (MATIC) surged to a ten-month high, rising for the third consecutive session.
• Avalanche (AVAX) extended recent gains, hitting a one-week high.
• Cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90%.
The cryptocurrency market has seen a surge of activity in the past few days, as Polygon (MATIC) and Avalanche (AVAX) both hit impressive milestones.
Polygon (MATIC) surged to a ten-month high earlier in the day, rising for a third consecutive session. Prices moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27. This marks the strongest point for MATIC/USD since April last year. Looking at the chart, polygon has had a mini-bull run this week, after bouncing off a floor at $1.20, leading up to a move to a ceiling at $1.35 today.
Avalanche (AVAX) also extended recent gains on Thursday, leading to prices hitting a one-week high. Following a low of $18.39 on hump-day, AVAX/USD raced to an intraday high of $20.31 earlier in the day. This resulted in avalanche climbing to its highest point since February 8, when the token last collided with a ceiling at $21.00. Looking at the chart, the initial surge took place following a break beyond a resistance at 55.00 on the RSI indicator.
Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing. This surge of activity highlights the potential for further gains in the near-term, with many tokens still available at discounted prices. With that being said, investors should always be cautious when entering the market, ensuring to only invest what they can afford to lose.
9. Februar 2023 / admin / 0 Comments
• The top privacy coins by market capitalization have seen a modest increase of $2 billion in the last 90 days.
• The top two crypto assets, Bitcoin and Ethereum, saw an increase of 30% or more in 30 days, while privacy tokens like Monero and Zcash saw more modest gains, with growth ranging from 8.7% to 10.6% in the last month.
• Dash (DASH), which is the second largest privacy token by market capitalization, saw a significant increase of 38.7% against the greenback last month.
Over the past three months, the top privacy coins by market capitalization have seen a modest increase of $2 billion, rising from $4.65 billion on November 9, 2022 to $6.69 billion today. While the two leading crypto assets, bitcoin and ethereum, have seen gains of 30% or more in the last thirty days, the top privacy tokens have had more modest increases.
Monero (XMR) saw a rise of 8.7% in value and is currently trading at $168 per coin compared to its trading price of $129 on November 9, 2022. Zcash (ZEC) increased by 10.6%, currently trading at $46.90 per coin compared to its value of $38.37 three months ago.
However, one privacy coin, dash (DASH), has seen a more significant increase of 38.7% against the greenback in the last month. Dash (DASH) is the second largest privacy token by market capitalization and was trading at $36.60 per coin on November 9, 2022. As of February 8, 2023, DASH is changing hands for $65.83.
In addition, some lesser-known privacy coins have recorded larger gains. Daps coin (DAPS) rose by 884.5% in one week and Phore (PHR) increased by 110.3% against the U.S. dollar in seven days.
Overall, the privacy coin economy has increased by $2 billion in the last 90 days, although the growth of the top privacy tokens has been much more modest compared to the top two crypto assets, bitcoin and ethereum. It remains to be seen whether the overall market capitalization of the privacy coins will continue to rise or if the gains made in the last three months were a one-off event.
1. Februar 2023 / admin / 0 Comments
• Metaverse tokens like Decentraland’s MANA and The Sandbox’s SAND have seen remarkable increases in value against the US dollar, rising 92-150% in the first month of 2023.
• During the same period, bitcoin and ethereum, the two leading cryptocurrencies, experienced double-digit gains.
• Other top-performing metaverse tokens are Axie Infinity’s AXS and Apecoin project’s APE, which have increased 80% and 63.3%, respectively.
During the first month of 2023, cryptocurrencies have experienced a surge in value, with some of the leading coins gaining double-digit returns against the US dollar. However, certain alternative coins, otherwise known as metaverse tokens, have seen even greater gains. Decentraland’s MANA and The Sandbox’s SAND have been the top performers, rising 150% and 92%, respectively, in the same period.
MANA and SAND are just two of the many metaverse tokens that have seen major increases during the first month of 2023. Axie Infinity’s AXS token has also seen a notable increase of 80% and the Apecoin project’s APE token has risen 63.3% in the same period. These impressive increases have been driven by the increasing demand and adoption of these tokens as well as the growing popularity of metaverse games and virtual worlds.
The increase in demand for metaverse tokens can be attributed to the growing popularity of virtual and augmented reality games, platforms, and experiences. Decentraland, for example, is a virtual world powered by the Ethereum blockchain that allows users to create a virtual identity, explore virtual worlds, and even buy and sell virtual properties. The Sandbox is another popular metaverse platform that allows users to create and monetize their own virtual experiences.
The increasing popularity of these platforms has driven up the value of their native tokens, as they are required for users to access the platform and purchase virtual goods. As more and more people get involved in these virtual worlds, the demand for metaverse tokens is expected to continue to increase, resulting in further increases in value.
While bitcoin and ethereum have seen double-digit gains during the first month of 2023, metaverse tokens have seen even greater increases and are expected to continue to outperform the leading cryptocurrencies in the coming months. As the demand for these tokens grows, it is likely that their value will continue to increase and that they will remain the top-performing crypto assets in the near future.
24. Januar 2023 / admin / 0 Comments
• Brazil and Argentina are looking to begin work on the issuance of a common currency.
• Representatives of both countries will be discussing this project at the CELAC summit in Buenos Aires on Jan. 24.
• The project of a common currency for Latam has been gaining some steam during the last year.
Brazil and Argentina are looking to start a new project that could potentially revolutionize the Latin American economy. This project is the issuance of a common currency, which will be discussed at the CELAC summit in Buenos Aires on Jan. 24. Brazilian and Argentinian Ministries of the Economy will be discussing the first steps to implement this project, which will be called “sur”, Spanish for south.
The common currency project has been gaining traction over the last year. The Argentinian Minister of Economy, Sergio Massa, stated that the discussion at the CELAC summit would revolve around initial considerations for the issuance of the coin. This includes fiscal issues, size of the economy, and the role of central banks. This process is expected to take time, similar to the process of the Euro, which was in the making for 35 years before being finally adopted in the European Union.
Massa also mentioned that the project could be extended to include more nations in Latin America in the long run. President of Brazil Luis Inacio Lula da Silva has been a strong advocate for the project, and he has stated that the common currency could be a way to increase economic integration in the region.
This project is sure to be a game changer for Latin American economies, and its success could be a model for other countries in the world. It will be interesting to see how the project is discussed at the CELAC summit, and if any new developments are made.
17. Januar 2023 / admin / 0 Comments
• On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved.
• The suspected thieves had moved 41,000 ethereum, worth $63.2 million at current exchange rates.
• Huobi and Binance had frozen some of the ethereum sent to the exchanges, with Binance CEO Changpeng Zhao confirming the funds were indeed frozen.
On Jan. 15, 2023, onchain researchers made a startling discovery: funds stolen during the Harmony bridge attack had been moved. It was a significant breakthrough in the investigation, as the suspected thieves had managed to move 41,000 ethereum, worth $63.2 million at current exchange rates.
The story of the Harmony bridge began on June 23 of last year, when the development team disclosed that $100 million in cryptocurrency funds had been stolen from the Horizon bridge. Reports indicated that the attacker had utilized a multi-signature wallet to gain control of the bridge. Despite the severity of the attack, the funds remained dormant until 206 days later, when onchain researcher Zachxbt discovered that the funds were on the move.
Zachxbt noted that the funds were being sent to exchanges such as OKEx, Huobi, and Binance. He also added that Huobi and Binance had frozen some of the ethereum sent to the exchanges. It was a significant development, as it was the first time authorities had been able to freeze funds stolen from the Harmony bridge.
The news was further confirmed by Binance CEO Changpeng Zhao, commonly known as „CZ.“ „We detected Harmony One hacker fund movement,“ CZ wrote. „They previously tried to launder through Binance and we froze their accounts. This time they used Huobi. We assisted the Huobi team in freezing their accounts. Together, 124 BTC have been recovered.“
The blockchain intelligence firm Elliptic was also involved in the investigation, with its CEO and co-founder, Tom Robinson, noting that the firm had „worked with leading exchanges to identify and block stolen funds associated with this attack.“
The Harmony bridge attack marked a significant moment in the history of cryptocurrency, as it showed that even the most advanced security measures can be exploited by hackers. It also showed that authorities are able to track and freeze stolen funds, even if those funds have been moved to multiple exchanges. While the investigation is ongoing, the funds frozen by Huobi and Binance serve as a reminder that the cryptocurrency industry is becoming increasingly secure.