Bitcoin Crypto News

Terra – A ‘Pyramid Scheme’ – Threatens The Crypto Ecosystem, Billionaire Says

The cryptocurrency industry is currently digesting the rise and fall of Singapore-based Terraform Labs’ network token Terra (LUNA) and stablecoin TerraUSD (UST). Following the unexpected collapse of almost $45 billion in market value over the course of a week, much has been made about the project’s architecture, namely its supposedly defective algorithm, which was led […]

Bitcoin

Retoken Announces its Upcoming IDO Launch

Retoken, the decentralized referral bonus system created for product and service providers, is thrilled to announce its upcoming IDO launch. Retoken is launching RETO – a new token model that stimulates new businesses to implement a blockchain referral model and discover untapped distribution channels. There will be a maximum supply of 550,000,000 RETO for sale […]

Crypto News

CRO Coin Falls 19% After Crypto.com Announces Rewards Cut Down To Cardholders

On Monday, Crypto.com’s Cronos (CRO) slide followed suit with a sharp drop after the crypto exchange said it was reducing some staking and rewards tied to its popular pre-paid Visa cards.  According to Tradingview.com, the coin dropped by 19% to $.265. On Sunday before the announcement, CRO was trading above $.33 per coin.  Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline Crypto.com announced the changes in a blog post: To ensure long-term sustainability, we are introducing a number of changes to the CRO Card rewards programme, effective 1 June 2022 00:00 UTC. CRO Card Rewards Cut Down Next month, the company will reduce the usage rewards on four of the exchange’s card tiers.  The most premium tier, the Obsidian tier, will see a Cronos card reward reduction from 5% to 2%. In addition, the Icy White / Frosted Rose Gold tier reward will be pulled down from 3% to 1%. The top tier of the company’s card program, Obsidian carries a $400,000 staking requirement and offers up to 8% cashback at retailers. According to company policy, there will be a limit on how much a person can earn CRO card rewards for two tiers. For example, the Ruby Steel Card earns are limited to $25 or equivalent in other fiat currencies like Dollars and Euros. While for the Royal Indigo/Jade Green tier, the cap is set at $50. In Addition, Crypto.com is phasing out CRO staking rewards for cardholders. Cards include Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian. Staking rewards involves coin owners “locking up” or delegating a portion of their crypto holdings to earn more interest on deposits. While explaining staking rewards, the exchange said; Cardholders with an active 6-month stake and who staked before 1 May 2022 13:00 UTC will continue to earn CRO Card rewards on spending at the current rate until their 180-day stake expires. Thereafter, the revised rates will apply. Cardholders who stake CRO after their 180-day lock expires will earn card spending rewards as per the schedule. Cronos Price Performance Since the start of January 2022, Cronos has been trading lower. The price of CRO was over $0.50 at the beginning of the year, but it has been retreating since then. At one point, CRO was close to sliding below $0.30. Cronos’ price skyrocketed during the NFL Super Bowl. But after that, there hasn’t been any sign of a recovery as the price of CRONOS crashed continuously. Related Reading | Analysts Predict ApeCoin To Hit $50 By End Of 2025 – And $100 By 2030 In the last 24 hours, CRO started the day in green, but after the company announcement price crashed below $0.30. Since then, the coin has lost 19% of its value and reached $0.26 lowest level.  Featured image from Flickr, chart from Tradingview

Crypto News

SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case

Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year. Both parties jointly requested the extension in a letter to Judge Sarah Netburn, who has been presiding over the case. Judge Netburn granted approval of the revised schedule. Suggested Reading | Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform How Case Vs. Ripple Began Between 2013 and 2020, Ripple Labs raised $1.3 billion in capital through the sale of XRP tokens. When the SEC filed a complaint against Ripple near the end of 2020, there were no indications from the SEC that Ripple was under scrutiny. And Ripple was already trading on over 200 exchanges at the time. The SEC, on the other hand, concluded that Christian Larsen, Ripple’s co-founder, and Bradley Garlinghouse, Ripple’s current CEO, illegally raised cash because XRP was not a registered securities but was offered to investors around the world. Legal Showdown Until Before Christmas The joint letter’s new provisions require the defense to file statements and any motions against expert witnesses by August 2, while objections must be filed by November 2. Additionally, any resistance must be responded to by December 20. The revised timeline follows the SEC’s request for an extension to file an objection to Judge Netburn’s decision on the Motion for Reconsideration of the DPP Ruling. This was the regulator’s second request for an extension in the matter. XRP total market cap at $31.56 billion on the daily chart | Source: TradingView.com Defense attorney James Filan shared a tweet from Ripple defense lawyer Stuart Alderoty, who said: “To all that have been following the case thus far – thank you. Know that Ripple is working hard (and the Court is pushing hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay.” #XRPCommunity #SECGov v. #Ripple #XRP Parties file joint scheduling letter proposing opening briefs for summary judgment and expert challenges in August and closing briefs a few days before Christmas. pic.twitter.com/DBVkl3LQXU — James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 22, 2022 XRP Price Analysis Meanwhile, XRP was up 0.26 percent to $0.7073 at the time of writing. The crypto declined 1.70 percent on Saturday and ended the day at $0.7055, down 2.06 percent from Friday’s close. On April 24, Ripple’s XRP fell for the fourth consecutive day, and the latest update had no discernible effect on the price. XRP must break over the pivot point of $0.7117 in order to reach the first major resistance level at $0.7204. To break out of the $0.7150 range, XRP would require wide crypto market support. Suggested Reading | Ripple Getting Bullish, Positive Trends Point To A Solid Year For XRP The cryptocurrency is now trading at 82% of its all-time high of $3.84194. Through the week, XRP trailed the broader crypto market, which was weighed down by market risk aversion. XRP has also been pushed down by news updates on the Ripple vs. SEC case, which has challenged support at $0.70. Featured image from Times Tabloid, chart from TradingView.com

Bitcoin Crypto News

Bitcoin Miners Receive Third Break This Year, Over 100K Blocks To Go Until The Halving

Bitcoin miners are celebrating the third break this year as their computational power increased due to a decrease of 1.26% in difficulty. This means that they will be able to mine more Bitcoins, and with it comes an endless supply of new coins. Miners also have another 108,160 blocks left until halving happens on or around May 3rd, 2024, which could bring some significant profits if prices keep going up. On March 03, Bitcoin’s difficulty adjustment algorithm (DAA) dropped by 0.35% and again on March 17 by 1.49%. This is the third time in 2022 that the DAA dropped by 1.26% on Thursday at a block height of 731,808.  Related Reading | Can The 600-Day MA Support Line Push Bitcoin Again? Bitcoin saw a significant reduction in the difficulty adjustment algorithm on March 7, 2021. As a result, the DAA went down by 27.94%. This was one of the largest reductions in Bitcoin’s lifetime. However, since this change, the hashrate has increased. With a 1.26% drop in DAA, miners find it easier to find the blocks. Two weeks ago, the difficulty was 28.59 trillion, and today with this decrease, the figures are 28.23 trillion. There are still 1,982 blocks left until the following DAA change. Presently, the difficulty adjustment algorithm is expected to increase in the following change. The next DAA is estimated on April 28th. So the following change will happen two weeks from now. Using today’s Bitcoin price, the current block subsidy of 6.25BTC is worth $252,781.  More Bitcoin Pools Joining As Just Over 100,000 Block Rewards To Go Until The Halving Bitcoin miners get closer every day toward the block reward halving expected to occur on or around May 4, 2024. Some estimates assume it may appear on May 3, 2024. As a result, things are turning favorably for miners. Miners can expect a significant boost in revenue with this new halving schedule. After halving, miners will see their reward cut in half, from 6.25 Bitcoins per block to 3.125 BTCs per block. The network produces about 900 coins daily (144 blocks), and Bitcoin’s inflation rate is 1.74%. So far, 90% of all imaginable bitcoins have already been minted- there are only 988481.23 left. Related Reading | TA: Why Bitcoin Price Could Eye Strong Recovery Above $41.5K It’s been a smooth few days for the mining community as difficulty continues to change, making it easier to find Blocks. Foundry USA currently holds top honors among all other pools over the last three days. They found 72 blocks and 16.63% or 33.54 EH/s of hashpower. In recent days, some more pools have joined. For example, there were 11 known Bitcoin mining pools two weeks ago, but now the numbers are 14.  Price Analysis Bitcoin is currently trading at $39,775 at the time of writing. The coin is below its $40,000 support level. Bitcoin price has decreased 3.35% in the past 24 hours and 8.48% in the past week.  Featured image from Flickr.com, chart from Tradingview.com  

Crypto News

Allocation of IDO Drunk Robots Is Only $5000: How to Get More with Unique Passes?

Get ready to be part of the neo-punk city of Los Machines and crush your enemies with your steel fists in the NFT-game “Drunk Robots” on April 7th on Liquidifty, GameFi, and TrustPad. IDO “Drunk Robots” will launch in a few days at three platforms at once. It won’t be long before you enter the futuristic neo-punk world of Los Machines, a futuristic city overrun by drunken robots looking to hoard metal. This is fun, high-octane brawler should shake up the Play-to-Earn market, and now you have a chance to get some $METAL tokens and throw your hat into the ring along with amazing and famous project investors such as Animoca Brands, Merit Circle, Gate.io, Zb.com and founder 1Inch! Now let’s find out the terms of participating in IDO of “Drunk Robots” on GameFi, TrustPad and Liquidifty platforms: On the GameFi: Minimum Investment in Launchpad tokens to get an access to IDO Lottery: $889 Minimum Investment in Launchpad tokens to get an access for Guaranteed allocation: $133,350 Total number of METAL allocated: 15,000,000 KYC: Required How to participate On the TrustPad: Minimum Investment in Launchpad tokens to get an access to Lottery: $1590 Minimum Investment in Launchpad tokens to get an access for Guaranteed allocation: $7950 Total number of METAL allocated: 5,000,000 KYC: No How to participate On the Liquidifty: Minimum Investment in Launchpad tokens to get an access to IDO: $600 Minimum Investment in Launchpad tokens to get a guaranteed allocation: $2000 Total number of METAL allocated: 5,000,000 KYC: No How to participate To compare the potential of “Drunk Robots”, let’s look at the initial price of tokens and further growth in the capitalization of other projects. For example, the Bombcrypto project token was originally $0.60, but eventually grew 60!!! times and reached a market capitalization of $11,730,000! Or another example of Mobox, which started out at $29 but ended up growing by 2900! Now the capitalization of the Mobox token has reached $566,950,000. And there is every chance that IDO “Drunk Robots” will be just as successful. Other examples of the space growth of projects similar to Drunk Robots can be seen in the table. The maximum allocation that you can get on platforms is not big enough for that incredible project. “Drunk Robots” have already partnered with Animoca, and this is a clear signal that the project can raise at least 30x! Before that, NFT-collection of “Rebel Bots” also partnered with Animoca and after the announcement, their token rose from $0.2 to $2! “Drunk Robots” has even more potential for growth through collaborations with Animoca, Polygon ZB.com and Binance Smart Chain. And the Liquidifty platform offers some kind of a “life hack” for users on how to participate in the IDO “Drunk Robots” with a larger amount and to get cosmic profit later. On the Liquidifty platform, you have the opportunity to buy one of the three passes to receive an allocation: Gas, Liquid and Solid passes. This feature is available only for platform users and it gets the pass to all IDOs on Liquidifty. Given the current number of users and passes, each Solid Pass holder participating in IDO will guarantee to receive a $5,000 allocation! This is a hundred times more than on other platforms and without additional requirements, such as contests or lotteries. It’s a great opportunity to increase allocation and get additional perks like valuable NFTs and access to all Liquidifty IDOs. The “Drunk Robots” IDO is just a few days away, so don’t waste your time and buy Liquidifty passes to be able to get more allocation on the launching IDO. In addition, Liquidifty conducts new events, drops, and contests related to the passes. Last week they did a raffle for solid pass holders with a transparent system from the beginning of the draw to the selection of the winner and the transfer of the prize amount. And the winner got $2000 in my eyes! They make a lot of events and announce them on their telegram channel. Public round allocation: 25,000,000 $METAL IDO and Listing price: $0.01 FDV on Listing: $27.5M TGE MarketCap with liquidity provided: 18,750.000 $METAL/$187,500 TGE MarketCap without liquidity: 5,000,000 $METAL/ $50,000 Vesting schedule for public round: 10% TGE, 15% monthly  

Altcoins Ethereum

Coin Bureau Warns of Potential ‘Grim’ Price Potential for Polygon (MATIC) – Here’s Why

The pseudonymous host of popular crypto YouTube channel Coin Bureau is updating his outlook on layer-2 scaling platform Polygon (MATIC). In a new video, the crypto analyst known as Guy tells his two million YouTube subscribers that the circulating supply of MATIC is putting fairly significant sell pressure on Polygon that could hamper any rallies […]

The post Coin Bureau Warns of Potential ‘Grim’ Price Potential for Polygon (MATIC) – Here’s Why appeared first on The Daily Hodl.

Crypto News

CLIFF Uses Deflationary Mechanism to Boost Token Price Regularly

Dogecoin started as a joke but ended up attracting billions of US dollars and the interest of Elon Musk himself. The cryptocurrency with the Shiba Inu dog as its logo has become an inspiration for many other crypto projects. The most recent example is Cliff, although it hasn’t been designed as a purposeful parody. On the contrary, Cliff, which also has a dog as its symbol, is seeking to help investors secure sizable returns by implementing a deflationary model. What Is Cliff and How Does It Work? Cliff is the first token with a true burn function that can directly and instantly boost the price per coin as a result of burning its circulating supply. The burning mechanism makes sure that Cliff keeps eliminating the excess liquidity on a regular basis. Every time it does so, the event pushes the price of each token up by a certain percentage. Besides this, the token’s value also increases as Cliff has exposure to yield-bearing assets with the goal to provide value to token holders. Thus, Cliff is a token seeking to act as a hedge fund and grow continually thanks to two main mechanisms: burning a percentage of the circulating supply and investing in yield-bearing assets. Here is how the burn function works: Every trade on Uniswap or other DEX comes with a liquidity fee. Currently, the tax is set at 5% for buys, and 8% for sells but it’s subject to change based on the market conditions. After a certain threshold, the smart contract releases fees accrued and injects it into the liquidity (Initial LP tokens have been burned forever). When the burn function is triggered (it can occur manually when the team decides or automatically according to the schedule), the contract unpegs a percentage of the circulating supply and sends it to the burn address. Basically, the process is similar to stock buybacks, in which companies purchase their own stock on secondary markets to reduce the circulating share supply available to the public. As a result, each token instantly increases in value after the burn. When it comes to investing, Cliff is getting exposure to various assets that may grow in value over time. Besides the liquidity pool tax, every trade comes with a 6% tax on buys, and 7% on sells which is used for marketing campaigns as well as yield-generating investments. As of today, Cliff is invested in stablecoins used for staking, LAND assets, and other non-fungible tokens (NFTs). Eventually, the generated wealth will be distributed back to the ecosystem members. Cliff Features Cliff token relies on a hyper-deflationary model to encourage a never-ending bullish trend. Here are the token’s main features that you should know about: Predetermined automatic true burns – one of its unique features is the code that is programmed to unpeg a small percentage of tokens from the pool and burn it on a regular basis, creating a higher price floor over time. Manual burns when liquidity is oversaturated – the manual burn is used by the Cliff team to unpeg the excess liquidity, thus pushing the token price higher immediately after the burn. Stable liquidity pool – unlike other liquidity pools, Cliff holders are not required to stake their tokens. Instead, every trade incurs a tax that goes to the liquidity pool address to make sure Cliff becomes less volatile over time. Anti whale – During the launch phase, the maximum amount a wallet could hold was .1% of the total supply, ensuring a well-distributed supply across the holders. Marketing incentives – a marketing tax is applicable on each buy and sell to ensure the team has enough funds for the marketing campaigns as well as to invest and donate to charities. Security – the security of the Cliff token is based on the Ethereum architecture itself. On top of that, the smart contract has been audited by CERTIK, which is one of the most recognized platforms monitoring and auditing blockchain and decentralized finance (DeFi) projects. The code is programmed so that the initial burned liquidity can never be pulled, while any new liquidity tokens generated will go straight to a dead address. Cliff as a Gateway to RED The Cliff community has the opportunity to get exposure to another great token that will be added to the ecosystem soon. Known as RED, it will act as a governance and yield-bearing asset. RED will be a valuable asset for Cliff investors, and the only way to accrue it is by staking Cliff. RED holders will be able to submit ideas and vote on investments proposed by the team. RED will also be the token to accrue yield from the invested assets. Thus, the ecosystem will be fueled by two tokens seeking to provide real value.   Image: Pixabay