THE US Federal Reserve revealed Monday that all federal banks are going to use the ISO 20022 system for Fedwire Funds Service, and rumors ran rampant the Robinhood may start listing Shiba Inu coin.
“The Fed Board asks the public to comment on its plan to enable the FFS to start running on ISO 20022,” U.Today reported.
Meanwhile, Shiba Inu coin saw more gains today after unconfirmed rumors that Robinhood might begin listing it spread, according to Stockhead.
Federal Reserve chair Jerome Powell also announced Thursday that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.
Meanwhile, in El Salvador, the country has made its first forays into Bitcoin mining using power generated by a volcano, according to a video released by state-owned geothermal electric company, LaGeo SA de CV.
The first Bitcoin mining rigs have been installed in an energy factory there, where weeks ago, President Nayib Bukele made the cryptocurrency legal tender.
Plus, Bitcoin and Ethereum are going to be traded on Wall Street and Coinbase is now allowing deposits in its accounts from users.
Read our cryptocurrency live blog for the latest news and updates…
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RISKY BUSINESS CONTINUED
It’s important to only invest in things you understand, and some products and cryptocurrency services can be very complex.
Before investing you should do your research as cryptocurrency firms aren’t regulated like other financial companies.
This means that you won’t have any protection if things go wrong and you could lose all of your money.
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WHAT IS EOS?
Founded in 2017 by Brenden Blumer and Dan Larimer, EOS launched trading in June 2018 after fetching $4.1billion from an initial coin offering.
EOS operates as the crypto token of the EOSIO platform, which is designed to allow developers to build decentralized apps.
These are digital applications or programs that exist and run on a blockchain or peer-to-peer network of computers instead of a single one.
The aim is to make it as easy as possible for programmers to embrace blockchain technology.
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WHAT IS COTI?
Coti is a blockchain platform with tools that let organizations build their own payment solution.
For example, merchants can create branded stablecoins to boost checkout options for customers.
The platform also has its own token with the same name.
The Coti group first launched in 2017, with “Coti” being an acronym for “currency of the internet”.
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WHAT IS THE PRICE OF CARDANO?
The value of Cardano is currently sitting at $2.10, according to Coinbase.
The price has inched down by 0.33% over the past 24 hours. However, the price has increased 6% over the past seven days.
But since the beginning of the years, the cryptocurrency has come a long way.
It was worth $0.18 in January, meaning its value has soared by more than 1,000% since then.
Cardano hit its highest ever level on May 17, when it reached $2.3091.
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SCANT REGULATIONS
In other words, don’t invest more than you can afford to lose or into something you don’t understand.
Cryptocurrencies are also especially volatile, and their values can make large swings at no notice.
There’s scant regulation for crypto firms, so you’ll find yourself without protection if and when things go wrong.
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BITCOIN PREDICTIONS PART 2
By the end of the year, Economy Watch predicts the price of Bitcoin will return to its heights in April of $64,000.
Then, at the beginning of 2022, Economy Watch notes Bitcoin will “be heading towards the $70,000 mark.”
A year from now, Wallet Investor sees the price of Bitcoin breaking $74,000. In five years, the price is expected to skyrocket to $193,876.
At the end of 2021, Coin Price Forecast sees the price reaching just $48,088. By mid-2023, it is expected to hit $71,386.
And by the end of 2033, Bitcoin is expected to rally to $153,822.
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CAN BITCOIN HIT $70K?
Some are wondering how high the price of Bitcoin can reach in 2021 – and that will depend on how it trends for the rest of 2021.
To reach $70,000, Bitcoin would have to surge by 63% in the last three months of the year.
That’s not an impossible task by any means but things would have to start trending the right way.
As things currently stand, many forecasters think Bitcoin will fall short of the $70,000 mark at the end of the year but reach or break that point not too far after.
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ENVIRONMENTAL IMPACT OF BITCOIN
But the reason why it gets criticism from environmentalists is that Bitcoin currently uses roughly 99.10terawatt-hours annually, according to the Cambridge Center for Alternative Finance.
In comparison, an eco-friendlier cryptocurrency Cardano just uses six gigawatt-hours of energy per year.
Currently, are about 21million Bitcoin tokens in existence.
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WHAT IS BITCOIN?
Aside from knowing Musk has quite a bit of influence on Bitcoin, know that it is the largest traded cryptocurrency, with a commanding market capitalization of more than $800billion.
Interestingly, Bitcoin was established in 2009 by an unknown computer expert using the alias Satoshi Nakamoto.
The cryptocurrency uses a mining procedure that involves a computer solving a difficult mathematical problem with a 64-digit solution.
For each problem solved, one block of Bitcoin is processed. In addition, the miner is rewarded with new Bitcoin.
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RISKS OF BITCOIN CONTINUED
Although Musk has said he thinks there’s a future with Bitcoin and Tesla, he has expressed environmental concerns over the cryptocurrency.
Since April 13, Bitcoin has dropped 32% to date.
Another risk to be aware of is the cryptocurrency sector comes with a lot of complexity, so you need to understand what you’re investing in.
And the same risk applies to even a well-known one like Bitcoin.
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RISKS OF BITCOIN
Although the returns have been favorable in the past year – a potential investment can turn out poorly if bought too high.
For instance, Bitcoin was looking unstoppable when Elon Musk’s Tesla bought $1.5billion worth of the cryptocurrency earlier in the year.
But then the billionaire caused a big sell-off on Bitcoin when he said Tesla would stop accepting payments of the cryptocurrency.
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NEWFOUND OPTIMISM
“There is some newfound optimism around the launch and approval of an ETF in the US,” Matthew Dibb, chief operating officer and co-founder of Stack Funds said, according to CoinDesk.
Meanwhile, in the past month, the popular cryptocurrency has dropped 12%.
Bitcoin and other major cryptocurrencies like Ethereum tumbled last week on China’s ban on all cryptocurrency transactions.
But still, the euphoria in the cryptocurrency has outweighed the bearishness in the past 12 months overall.
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CASPER ON THE RISE
Casper (CSPR) cryptocurrency has skyrocketed today as people ask how to buy the coin while Bitcoin soars on Coinbase.
Over the past 24 hours, CSPR crypto has appreciated 15% in value, according to Investor Place, but crypto sites vary on price predictions for the currently successful coin.
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CRYPTO CITY
The mayor of Miami is pushing the Florida city as a “cryptocurrency innovation hub,” and Bitcoin is up today on Coinbase.
Ever since CityCoins revealed “MiamiCoin” in August, “the protocol has sent about $7.1 million to Miami,” The Washington Post reported Thursday.
Mayor Suarez estimates the plan could generate as much as $60 million for the city in the next year.
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RISKY BUSINESS
Remember that buying cryptocurrencies is always a risky business, and you should only invest what you can afford to lose.
They are extremely volatile, and your cash can fall as well as rise in the blink of an eye.
It’s important to only invest in things you understand, and some products and cryptocurrency services can be very complex.
Before investing you should do your research as cryptocurrency firms aren’t regulated like other financial companies.
This means that you won’t have any protection if things go wrong and you could lose all of your money.
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WHAT HAPPENED TO PYTH LAST WEEK?
According to Bloomberg, an error last Monday caused the platform Pyth to incorrectly show that the price for Bitcoin was down to about $5,400.
In a series of tweets that Wednesday, Pyth apologised for the mishap.
“We are communicating with Pyth partners and data providers to ensure transparency, accuracy, and confidence in Pyth,” the platform wrote.
“We know our users depend on us and we’re working with affected partners on remedying the situation.”
“Better developer documentation and guidelines on the usage of the Pyth oracle are underway, stay tuned.”
“We deeply thank the community for the support you have shown us. Pyth will keep building toward the promise of delivering trustworthy, high-fidelity financial information.”
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WHAT IS HASHGRAPH?
Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.
The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.
HBAR is the cryptocurrency of the Hedera Hashgraph.
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WHAT WILL SHIBA INU BE WORTH IN 2022, CONTINUED
Meanwhile, Coin Price Forecast expects Shiba Inu to hit a value of $0.00002336 by the middle of next year.
It then expects it to end the year at a slightly higher level of $0.00003037.
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WHAT WILL SHIBA INU BE WORTH IN 2022?
Plenty of cryptocurrency fans have predicted Shiba Inu’s value for 2022, but you should take it with a pinch of salt as those guesses are nowhere near guaranteed.
For example, crypto website Wallet Investor expects a value of up to $0.000018 in a year’s time.
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WHAT IS SHIBA INU COIN, CONTINUED
Whether you’ve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.
Cryptocurrencies are especially volatile, so their values can crash with little to no notice.
WHAT IS SHIBA INU COIN?
Shiba Inu is a cryptocurrency token that allows users to hold trillions of them.
The tokens feature the same Shiba Inu dog as Dogecoin, which has risen massively in popularity recently. Additionally, there are trading bots available that specifically focus on Shiba Inu coin, such as the Shiba Inu trading bot.
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SWISS REGULATOR APPROVES FIRST CRYPTO FUND
Switzerland’s Financial Market Supervisory Authority has approved the first Swiss crypto fund, Bitcoin.com reported Wednesday.
FINMA revealed the fund is called “Crypto Market Index Fund.”
It noted that it is “an investment fund according to Swiss law belonging to the category ‘other funds for alternative investments’ with particular risks.”
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WHO IS BEHIND ALGORAND?
The Algorand Foundation based in Singapore is behind the project.
Algorand claims that it speeds up transactions and improves efficiency when compared to bitcoin and other blockchains.
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WHAT IS ALGORAND?
Algorand is a cryptocurrency of the Algorand blockchain, a public decentralized network on which smart contracts can be built.
It was created in 2019 by Silvio Micali, a professor a the prestigious Massachusetts Institute of Technology (MIT).
The computer scientist has also won the Turing Award for his work in the area of cryptography.
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COINBASE LETS USERS DEPOSIT PAYCHECKS INTO ONLINE ACCOUNTS
Coinbase will let users deposit their paychecks directly into their online accounts, according to CNBC.
“With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase,” Max Branzburg, vice president of product at Coinbase, revealed in a blog post.
“We’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.”