Philippines’ Top Crypto Traders Form Association To Advocate Crypto Investment Literacy

Bitcoin Approaching $45k, Litecoin and BorroeFinance Expected to Rally

Bitcoin (BTC) has been trending higher for seven consecutive weeks, approaching the $45,000 mark. This upward trend has attracted both novice and experienced investors, driven by high optimism and ongoing discussions about ETFs. Traders expect altcoins like Litecoin (LTC) and BorroeFinance (ROE) to extend their gains alongside Bitcoin’s rise.

Litecoin, one of the major altcoins, has been in focus recently. BitPay, a crypto payment processor, has integrated Litecoin, allowing users to pay for Microsoft services using LTC. Additionally, Mecum Auctions has started accepting Litecoin as well. These developments have led to increased demand for LTC, pushing its price up to $73.60. The increasing number of transactions and active unique addresses also indicate a rising demand for Litecoin.

BorroeFinance, on the other hand, is an emerging altcoin that leverages artificial intelligence to connect investors with businesses or content creators seeking funding. The platform uses AI to assess risks and match investors with ventures aligned to their interests. BorroeFinance recently launched on the Polygon network, offering a secure and audited marketplace for earning, trading, and funding. The native token of the platform, ROE, is deflationary and powers the functionalities of the platform. In the ongoing presale, over 99% of the allocated ROE tokens have been sold. However, the long-term utility and adoption of BorroeFinance and its ROE token are yet to be tested.

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Hashtags: #bitcoin, #litecoin, #borroefinance, #cryptocurrency

The pace of innovation in Artificial Intelligence (AI) is astonishing. AI is now the driving force behind technologies like Robotics, IoT, and Big Data, and Generative AI tools like ChatGPT are gaining widespread attention. With AI, computers can ma

#AI #ML #Automation

Drop in Crypto Prices Cools Overheated Market and Funding Rates

The recent 4% drop in the price of cryptocurrencies, particularly bitcoin, has had a positive impact on the crypto perpetual futures market. Perpetuals are futures contracts with no expiry, and their funding rates help align their prices with the index price. Over the past week, funding rates for major cryptocurrencies reached high levels, indicating an overheated leveraged market. However, the drop in prices has normalized the funding rates and cooled the market down.

The decrease in funding rates, along with the decline in open interest in crypto futures contracts, suggests that overleveraged traders have been shaken out of the market. Funding rates become burdensome when market momentum stalls, leading overleveraged traders to exit their positions. This market correction has created a more stable and sustainable environment for the crypto futures market as it heads towards the end of the year.

This article provides insights into the recent drop in crypto prices and its impact on funding rates. The cooling of the crypto perpetual futures market is seen as a positive development, as it signals a healthier and less overheated market environment. Traders who were heavily leveraged have exited the market, and funding rates have returned to more manageable levels. This stability and normalization pave the way for a steady ascent in the market as the year comes to a close.

Read the original article here #Bitcoin #cryptocurrency #futures #trading

https://coinmystique.com/ftx-chilly-pockets-moved-nearly-10m-in-altcoins-to-ethereum-since-aug-31/?feed_id=8627&_unique_id=6522fcc091b53

A chilly pockets owned by collapsed crypto trade FTX moved nearly $10 million in altcoins from Solana to Ethereum since Aug. 31 for undisclosed causes, in keeping with on-chain information.The altcoins embody notable tokens like LINK, SUSHI, LUNA, and YFI. The transfers had been carried out by way of Wormhole Bridge.It’s unclear if the transfers are linked to the trade’s chapter proceedings or its current request to rent Galaxy Digital to promote its crypto holdings for fiat.FTX didn’t reply to a request for remark as of press time.FTX seeking to promote propertyFTX just lately filed a request with the chapter courtroom searching for permission to have interaction Galaxy Digital Capital Administration as its funding supervisor for sure digital property. The trade additionally requested permission to stake some idle crypto property to generate passive yield.Below the proposed settlement, Galaxy would handle, commerce, and convert FTX’s property into fiat forex or stablecoins, and hedge the collapsed trade’s publicity to unstable cryptocurrencies in return for a month-to-month fiduciary payment.FTX argued that Galaxy’s experience in promoting giant cryptocurrency positions with out affecting the market made it an appropriate alternative. The engagement aimed to assist FTX’s restructuring efforts by monetizing its cryptocurrency holdings.Moreover, the trade has filed a separate movement to ascertain tips for managing and promoting its digital property and to enter into hedging preparations on eligible cryptocurrencies — primarily Bitcoin and Ethereum.Collectors criticize tempoFTX is going through criticism from collectors over the sluggish tempo of its chapter plan negotiations.The trade’s legal professional, Brian Glueckstein, resisted requires expedited mediation on the newest chapter listening to on Aug. 23, saying the method is on observe for conclusion within the second quarter of 2024.A draft plan proposed by FTX on July 31 outlined the intent to repay clients by way of asset liquidation and litigation towards insiders. Nevertheless, tensions have risen over FTX’s efforts to discover a purchaser for its worldwide trade, FTX.com, and the lack of awareness shared about incoming bids.Collectors’ committee legal professional, Kris Hansen, additionally highlighted the $50 million month-to-month spent on attorneys’ charges and different prices because of FTX’s delay in resolving creditor considerations. FTX seeks to extend collectors’ restoration by way of lawsuits towards its founder, Sam Bankman-Fried, funding agency K5, and the founders of FTX acquisition targets.The chapter case was filed in November 2022 after allegations that FTX misused and misplaced billions of dollars of shoppers’ crypto deposits.Posted In: Chapter, ExchangesSupply: https://cryptoslate.com/ftx-cold-wallet-moved-almost-10m-in-altcoins-to-ethereum-since-aug-31/

When a popular Neo-Nazi webcomic made this pro-Bitcoin comic in December 2017, Bitcoin was at $19,650. It crashed almost immediately after this comic came out, leading me to make this image on the one-year anniversary of this comic

Bitcoin then became mega-popular, and I got a lot of Bitcoiners sending me smug asks. 

Today, Bitcoin fell below $19,650 again, having lost 70% of its value since November, so I get to make an updated graphic

If seeing that bubble comic made you buy bitcoin and you HODLed for five years, you’ve lost money.

David Honor, from Chicago Talent Sourcebook (1985)

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Decentralized Exchanges (DEXs) and OTX: Empowering the Future of Crypto Trading

The financial world takes notice when topics make their way into esteemed publications like Fortune or the Wall Street Journal. Recently, the spotlight has turned toward decentralized cryptocurrency exchanges, or DEXs, garnering attention for their promise to empower users and investors with greater control over their crypto assets.

The media’s interest is not without merit. According to researchers at Messari, the surge in popularity of DEXs was evident during the record-breaking bull market in April 2021, with these platforms handling a staggering $122 billion in transactions — a monumental leap from the $1 billion recorded in April 2020.

Further insights from DEX Metrics reveal that, as of July 2021, decentralized exchanges like Uniswap, PancakeSwap, and Binance DEX collectively manage around $15 billion in transactions every week. While this constitutes less than 10% of the overall crypto transaction volume, the rapid growth and increasing market acceptance of DEX technology are undeniably impressive. The numbers speak for themselves, and it’s no surprise that DEXs have become a prominent topic of discussion across various financial circles.

DEXs have taken center stage, providing a groundbreaking alternative to traditional centralized platforms. These platforms are characterized by trustless transactions and the empowerment of individual users, who retain control of their funds. One prominent player in the DEX arena is OTX Exchange. In this article, we will explore the concept of DEXs, their uses, and how they can benefit you in building a robust crypto portfolio.

The Rise of DEXs

Decentralized Exchanges, or DEXs, are a fundamental innovation in cryptocurrencies. Unlike traditional centralized exchanges operated by a central authority, DEXs facilitate peer-to-peer trading directly on the blockchain. This means that users retain control of their funds and trade without intermediaries' allows users to trade now from their wallets, eliminating the need to entrust a third party with their funds. This decentralized model enhances security and aligns with the core principles of cryptocurrencies, decentralization, and financial sovereignty.

They rely on smart contracts and blockchain technology to enable users to trade digital assets directly with one another. This differs significantly from centralized exchanges (CEXs), which are managed by a centralized authority and often require users to trust them with their funds.

The core advantages of DEXs include enhanced security, reduced counterparty risk, and the ability to trade a wide range of cryptocurrencies. Furthermore, they offer greater privacy, as users do not need to go through the KYC (Know Your Customer) process typically demanded by centralized exchanges.

How a Transaction Unfolds on the OTX Decentralized Exchange?

When engaging with a traditional cryptocurrency exchange, the process typically involves creating an account, adhering to Know Your Customer (KYC) requirements, depositing funds, and executing transactions, whether for a quick buy or to build a long-term portfolio.

Enter the decentralized world of OTX exchange, where the user experience takes a distinctive turn. Instead of creating an account and going through KYC processes, users link their cryptocurrency wallet directly to the DEX’s software. Whether you’re looking to purchase or swap crypto assets, the interaction is streamlined. You specify your preferences, receive the price details, and, upon approval, greenlight the transaction — all without logging in, providing personal information, or creating an account.

Unlike centralized exchanges that match users with individual sellers, OTX employs automated market makers (AMMs) to facilitate transactions. These AMMs offer coins and tokens from a liquidity pool — a reservoir of cryptocurrency provided by other users for a specified period. You buy from a liquidity pool when you engage in a transaction on the OTX decentralized exchange.

What sets OTX apart is the opportunity for users to contribute to liquidity pools by lending their funds. Users can make their crypto assets available for defined periods, whether a week, a month or another specified timeframe. After this period, contributors receive their funds back along with a share of the transaction fees generated by the liquidity pool, resembling an arrangement akin to buying a government bond.

For users seeking a more nuanced approach, sophisticated DEXs like OTX offer extensive control over participation in liquidity pools. This includes options such as making tokens available within specific price ranges. Savvy traders often leverage these customization features to optimize strategies and enhance potential profits in the decentralized marketplace.

Conclusion

The future of crypto trading will likely witness the ongoing rise of DEXs, which will work alongside traditional centralized exchanges to provide diversified options for traders. OTX Exchange, with its commitment to user control, security, liquidity, and privacy, stands as a promising platform at the forefront of this transformation.

In conclusion, decentralized exchanges are becoming increasingly essential as cryptocurrency trading evolves. OTX Exchange exemplifies the values and advantages of DEXs, offering a secure, user-friendly, and efficient trading experience. As the crypto industry grows, platforms like OTX Exchange will play an integral role in shaping its future.

The Crypto Crisis - Dissent Magazine

The latest cryptocurrency crash illustrates why the entire financial sector needs to be subject to democratic control.

Bitcoin can only process about seven transactions per second. (Visa does something like 1,700 per second, and claims they are capable of 24,000.) Having so many different miners in the system race to verify the same transaction creates a gigantic amount of wasted time and energy. And, as transaction chains get longer and the networks get bigger, verifying transactions gets more difficult, which has led to an arms race for processing power. Bitcoin miners are partly responsible for the computer-chip shortage that has made it difficult to get new cars, computers, and PlayStations. By one calculation, Bitcoin consumes more electricity than Finland. An individual transaction produces about half a ton of carbon dioxide. Bitcoin has probably undone all the reductions in greenhouse-gas emissions produced by the adoption of electric vehicles.

Art Staff Inc, from Adweek Portfolio (1988)

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