CRYPTO News ♻️

_Headline_ 👇🏽✨

BREAKING:

1. 🔥🇺🇸 Presidential candidate Robert F. Kennedy Jr. announces plan to back the US dollar with #Bitcoin  if elected in 2024.

2. 🇺🇸 SEC Chair Gary Gensler says he's "disappointed." The court ruled $XRP is not a security.

3. 😎The Ripple token was listed on 6 TOP exchanges after the victory over the SEC.

Coinbase, Kraken, Gemini, Cryptocom, BinanceUS, and Bitstamp have added token trading. Then XRP:

▪️Set a yearly high (+90%).
▪️Rise to 4th place in terms of capitalization ($41.5 billion).
▪️Became 3rd in terms of trading volume🚀, after USDT and BTC ($13.8 billion).

Stay tuned for more crypto related news 📰🗞️

✅ The Bitcoin Halving is Only 9 Months Away – Here’s How You Can Prepare

✳️ Bitcoin, the world’s largest cryptocurrency, is set to go through an important event called the “Bitcoin halving” in less than nine months. However, this event happens every four years and has historically changed the Bitcoin ecosystem.

In the Bitcoin system, miners play a significant role in adding new transactions to the blockchain. They use powerful…

During the flat period of the crypto market, miners began to accumulate bitcoins

In anticipation of the April 2024 halving, bitcoin (BTC) miners have entered an accumulation phase.

The miners' reserve metric indicates a hold on coins since May 27, 2023, which has intensified following bitcoin's recent fall from the $30,000 price level.

Bitcoin mining firms have increased their liquidity and reduced the need to sell more BTC.

This can be attributed to the rise in their stock prices following the hype surrounding BTC exchange-traded funds (ETFs). Having gained financial reserves, miners started buying mining equipment.

As bitcoin miners increase their bitcoin reserves, institutional crypto investors are cautious about investing.

This is because the market is stagnant and trading volumes have fallen 62% since the beginning of the year.

Bitcoin funds continue to register large outflows, while institutional investors have stopped shorting BTC through investment products for the first time in 14 weeks.

*40 Cryptocurrency Terminologies and abbreviation you should get Familiar with*

*CRYPTO TERMINOLOGIES AND ABBREVIATIONS*

1. *FIAT* - Government-issued currencies i.e Naira, Dollar

2. *BLOCKCHAIN* - the technology of cryptocurrency that keeps the system secure and decentralized.

3. *DEFI* - (Decentralized Finance) is an ecosystem that operates independently, free of third parties or exchanges.

4. *CEFI* - (Centralized Finance) had always been the standard for trading Crypto before DEFI. CEFI involves the use of companies operating exchange platforms like Binance, FTX etc

5. *WHITE PAPER* - A white paper is a document that outlines what a cryptocurrency is created to do and how it will achieve it.

6. *TOKENOMICS* - This is a combination of Token & Economics. It helps understand the supply and demand characteristics of a cryptocurrency

7. *ICO* - Stands for ‘Initial Coin Offering’, which is where a new cryptocurrency gives away some coins at a discounted rate usually to finance the project.

8. *IDO* - Stands for ‘Initial DEX Offering’ refers to the launching of a cryptocurrency on a decentralized exchange (DEX) usually at a price lower than the listing price in order to raise funds.

9. *COIN* - There is a difference between Coins and Tokens. A coin is an asset that is native to its own blockchain. E.g Bitcoin, Ethereum, Solana

10. *TOKENS* - Tokens are created on existing blockchains. I.e Every cryptocurrency created under BSC, SOL, ETH or any other blockchain is not a coin but a Token. E.g $cake (Bsc), $rope (Sol), $UNI (Eth). Tokens are the backbones of DEFI & exist to be used with DEX.

11. *MARKET CAPITAL* - The total trading value of a cryptocurrency.  Calculated by (Current Price x Circulating Supply= Mcap)

12. *STABLECOIN* - A cryptocurrency that is tied to the value of the US dollar to make it more stable and less volatile. E.g USDt, Busd

13. *PUMP AND DUMP* - This is kind of like a scam where people who own a large share of a Coin encourage others to buy to artificially pump the price. Once the price reaches a high point, they sell off all that they own and the price falls drastically.

14. *BAGHOLDER* - This term is for someone left with a cryptocurrency after a pump and dump. E.g Everyone holding Shitcoins after they fall

15. *GAS FEE* - A fee for validating a transaction.

16. *REKT* Slang for ‘wrecked’. It implies that the user lost a lot of money on cryptocurrency.

17. *MOON* - A belief that a Cryptocurrency will rise exponentially in price.

18. *HODL* - A drunken misspelling of the word ‘hold’ which is now a slang people use when they say they are going to wait and hold onto a cryptocurrency.

19. *NFT* - (Non Fungible Tokens) NFTs enable people to buy and sell collectibles like art, music and trading cards using smart contracts. NFTs can work like any other speculative asset, where you buy it and hope that the value of it goes up one day, so you can sell it for a profit.

20. *DYOR* - (Do Your Own Research) often aims to reduce the number of uninformed investors in cryptocurrency. It encourages them to research and understand a cryptocurrency before investing.

21. *NFA* - (Not a Financial Advise) The term is also often used as a disclaimer when cryptocurrency traders and enthusiasts make public posts or share their market analyses on social media platforms.

The market cannot be 100% predictable and even a “Correct” analysis can fail so it’s important that users apply discretion while investing.

22. *WHALE* - A crypto whale is wealthy individual or a company that can move large amounts of cryptocurrency in one go. This can have a big impact on the market.

23. *FUD* - (Fear, Uncertainty and Doubt) Events and news that create a negative effect on the market

24. *BULLISH* - The upward movement of a market

26. *BEARISH* - The downward movement of a market

27. *ATH* - All time high

28. *ATL* - All time low

29. *STAKING* - the act of locking up your cryptocurreny to help secure the network and validate transactions

30. *FARMING* - mostly  same as staking

Bitcoin news and forecast for August 26, 2023

Yesterday, the price of Bitcoin did not show much change. The exchange rate reacted sluggishly to the speech of the head of the Fed, as he did not say anything new.

The total cryptocurrency market capitalization fell by 1.62% to $1.05 trillion in the last 24 hours, while the market volume fell by 12.34% to $28.43 billion.

Overall, the situation in the crypto market is almost unchanged, with most of the leading cryptocurrencies remaining within the current value. The exception is the token XRP.

It fell 3.18% to $0.5115, a six-week low for the coin, reversing almost all of the progress made since Ripple's partial victory over the Securities and Exchange Commission (SEC).

The number of Cardano-walkers grew by 170% in a year

Large investors hold more than 34% of Cardano (ADA) turnover.

The volume of the whale-wallet-controlled cryptocurrency was at its highest level since September 2021 in mid-August.

The altcoin fell to $0.264 on the night of Thursday, August 31. Due to the activation of sellers, the cryptocurrency began to retreat along with bitcoin (BTC) and ether (ETH).

Its capitalization decreased by 3.8% to $9.289 billion over the day.

Over the past 12 months, the number of ADA walkers has increased 170% to 2.65 million.

Long-term investors were not scared by Cardano's decline in late 2022 and mid-2023 and continue to hold the cryptocurrency.

Hodlers are also interested in Lightcoin (LTC). Since the middle of last year, the number of hodlers on the LTC network has increased 100% to 4.9 million.

The third place among blockchains in terms of growth rate was taken by etherium. The number of long-term ETH wallets increased by 44.2% to 73.9 million over 12 months.

Bitcoin news and forecast

Yesterday, the price of Bitcoin failed to break the $26,000 level as the forecast suggested. Bitcoin's forecast remains conservative.

The cryptocurrency fell below the $27,000 support level last Thursday after the SEC postponed a decision on seven applications for spot Bitcoin-ETFs.

At the time of writing, Bitcoin is at $25,600 and minus 1.57% overnight.

The total cryptocurrency market capitalization has declined 1.05% to $1.05 trillion in the last 24 hours, while market cap has increased 8.21% to $21.56 billion.