#terra luna crypto

[tomorrowusa]

I haven’t mentioned for a few weeks what a shit show crypto is. So let John Oliver do it far better than anybody else can.

I’ll just add is that the only value crypto has is the value that people think it has. As John Oliver put it, it’s totally based on “good vibes”. It’s essentially just digital play money that people buy with real money.  

One of the sketchy crypto characters John mentioned is Do Kwon. He is now in custody in Montenegro – nabbed while fleeing arrest by the authorities in the US and South Korea.

Interpol confirms arrest of crypto fugitive Do Kwon in Montenegro

[thahxa]

crypto quant government

[dencyemily]

Binance Burns 2.1B LUNC Tokens, Driving Terra Luna Classic Toward 100B Token Milestone for Market Stability

Binance eliminates 2.1B LUNC, near 100B token burn, Terra Luna Classic community, market stability. Terra Luna Classic edges closer to 100B token burn, Binance’s significant 2.1B contribution, key milestone. Community and Binance burn nearly 100B LUNC tokens, united effort, secure Terra Luna Classic’s future.

Binance, world’s largest crypto exchange, executes substantial token burn, removes 2.1 billion Terra Luna Classic (LUNC) tokens from circulation. Latest burn, ongoing effort, Terra Luna Classic community, reduce number of LUNC tokens, campaign on brink of eliminating 100 billion tokens. Initiative aimed at stabilizing token’s value, testament to community’s commitment, project’s long-term viability.

Binance’s recent action, 18th instalment, LUNC token burn series, total tokens incinerated by exchange, over 50 billion. More than half of total LUNC tokens burned by community. Tokens sent to designated burn address, effectively removed from circulating supply. Binance’s move part of broader community effort, contributions from other exchanges, validators, Terra Luna Classic stakeholders, reducing token’s supply.

Terra Luna Classic community collectively burns nearly 100 billion LUNC tokens, milestone, widespread support, token’s stabilization, growth strategy. Average weekly burn rate, 600 million tokens, sustained and coordinated effort across ecosystem. Community-driven initiative, reduced supply, sparked positive reaction in market. Trading volume of LUNC, significant uptick, reported 68.30% increase in last 24 hours.

Market capitalization of Terra Luna Classic, approximately $677.97 million, notable player in cryptocurrency market. CoinGecko reports notable price surge, outperforming global cryptocurrency market, peers in Smart Contract Platform category. Positive price movement, indicative of market’s optimistic response to community’s efforts to burn tokens, enhance token’s value.

Collective endeavor to burn Terra Luna Classic tokens, remarkable example of community collaboration in cryptocurrency sector. Binance’s significant contribution, coupled with sustained efforts of Terra Luna Classic community, highlights proactive approach to token management, market stabilization. Campaign nears 100 billion token milestone, positive market response, increased trading activity, growing confidence in Terra Luna Classic’s potential for long-term success.

[cherrynika]

It's been 3 years since he was cancelled. 3 years of off-on retail work, attempting to reunite with Max, and attending uni part-time. Esteban, annoyingly, has not only graduated but scored a deal with Kiki.K to make bullet journals. Bullet journals were PIERRE'S thing--total productivity hack. Esteban even stole his idea to add a special page of grid paper for each week, to track stock prices.

Pierre had said, to track the price of Bitcoin and Luna. But everyone knows what happened to that. He didn't just lose his followers, he got anonymous messages with audio attachments after Terra and Luna cratered overnight. At first he opened them, his curiosity, after all, had led him to the high point of becoming the first crypto influencer in France. But it was just screaming, sobs, inchoate shrieking. That was creepy enough, but then he got messages from unknown sources saying they knew he lived in the 6th arrondissement, and that they'd lost their house, their retirement, their second home in the alps, car downpayment, the chance to holiday in Bali, he knew it was time to go dark.

It was so annoying. Every time he started something new, like tarot or astrology podcasts, they'd hunt him down.

Pierre always said, none of his videos were financial advice. And yet.

[fitmintwear]

FTX Fiasco: Rise and Fall of Bankman-Fried

The cryptocurrency market has experienced a whirlwind of activity over the last week, which will be remembered for a great many years. Unquestionably, 2022 will be remembered as one of the key and pivotal years in the development of the cryptocurrency market. This is due to the fact that the cryptocurrency industry was finally taken seriously and discussed on a global scale for the first time since the creation of Bitcoin back in 2008–2009. Terms like cryptography and Web 3.0 were becoming more widely used by non-technical people as well.

The Axie Infinity Ronin bridge attack, the Terra LUNA crash, and the collapse of the FTX exchange, one of the second-largest cryptocurrency exchanges by volume in the world, were among the worst crashes of 2022. In this article, we will be taking a closer look at the timeline of events and understand what led to the collapse of the FTX exchange and the fall of the man who was once hailed as the savior of the crypto world- SBF.

Who is SBF- Sam Bankman-Fried?

SBF, also known as Bankman-Fried, was, until recently, the up-and-coming star of the cryptocurrency world with a net worth of $26 billion as he quickly joined the Bloomberg Billionaires Index. Bankman-Fried was raised in California by his parents who were Stanford Law professors. He completed his undergraduate work at the Massachusetts Institute of Technology in math and physics before working on Wall Street. He started FTX two years after founding Alameda Research in 2017.

What is FTX?

FTX (short for “Futures Exchange”) was a platform where users can purchase and sell digital assets like bitcoin, ether, and Dogecoin. Platforms like FTX rose in popularity in recent times as more and more people sought to invest in cryptocurrencies without having to deal with the technical aspects of it.

The rise of FTX

The exchange paid for flashy television commercials with A-list celebrities to promote itself as a secure and simple way to invest in cryptocurrencies. In addition to this, Bankman-Fried also purchased the advertising space in uniforms and sporting venues for Major League Baseball officials. The 2019-founded business gained international notoriety very quickly thanks to a number of aggressive marketing tactics, high-profile acquisitions, and low trading fees.

With the promise that they could invest their money in accounts and earn significantly higher yields than at conventional banks, even those who were unfamiliar with the technology were seduced by FTX. Major venture capital firms joined in and invested nearly $2 billion in the business. The 30-year-old founder of FTX, Sam Bankman-Fried, rose to prominence as the face of the business and, to some, of cryptocurrency in general. FTX was difficult to miss due to celebrity endorsements and significant sports sponsorships.

The Fall of FTX

It was only a matter of moments how the cryptocurrency market boomed after SBF launched FTX. Bitcoin’s price, which had previously fluctuated around $10,000, skyrocketed in 2021 and reached a high of more than $64,000. Venture capital funds poured into everything blockchain-related and digital currency-related, and crypto platforms shifted to draw users beyond the technologists and blockchain enthusiasts who had previously propelled its rise.

From its late 2021 highs, when it was generally considered to be a leading indicator of the larger cryptocurrency market, the price of bitcoin has fallen sharply. It currently trades for about $16,000. While it strongly affected the value of other cryptocurrencies and tokens, many significant platforms had already closed due to the general decline in the crypto industry. However, FTX appeared to be immune, even going so far as to acquire some of its faltering rivals.

But when CoinDesk, a cryptocurrency-focused digital media website, published the balance sheet of Alameda Research, a crypto investing company that also belonged to Bankman-Fried, things started to change. It revealed that Alameda had a sizable amount of FTT, a virtual currency developed by FTX. Even though the FTT had a certain market value, Alameda would be in danger of going bankrupt if the price dropped.

CZ (Changpeng Zhao), CEO of the cryptocurrency exchange Binance, a competitor of FTX, declared on November 6 that his business would offload all of its FTT tokens as a result of the leak of Alameda’s balance sheet. FTT’s cost dropped significantly. Many FTX users moved to remove their funds from the platform as the price fell.

The crypto community was already on edge despite the fact that the full extent of the connections between Alameda and FTX was not yet known. In the end, several billion dollars were poured out of FTX by people who rushed to withdraw their money before it ran out of funds. On November 8, FTX barred users from withdrawing funds from the system, which marked the fall of FTX. Not only did it shake the volatile crypto market, declining its overall market capitalization below $1 trillion, but also left some deep scars on the whole international crypto community that will have repercussions for years to come.

For More Interesting blogs like this visit our website : https://epillo.io/

[thesocialchronicles]

Crypto traders betting on higher prices just got wrecked. Over $2.2B in liquidations hit the market as Bitcoin fell to $91K and Ethereum crashed 20% in 24 hours. Traders who were betting big on prices moving higher saw their positions forcefully liquidated as panic over Trump’s newly imposed tariffs on Canada, Mexico, and China triggered a massive crypto crash. The chaos led to the worst single-day liquidation event ever recorded—surpassing even the Terra (LUNA) collapse and the FTX (FTT) downfall. $2.15b liquidated from the crypto market in the past 24 hours.Worst liquidation event in history in a single day.Worse than LUNA. Worse than FTX ($1.6b). pic.twitter.com/5yeQUtoHkR— Miles Deutscher (@milesdeutscher) February 3, 2025 According to CoinGlass, futures traders felt the brunt of this storm, with $1.87 billion in long positions liquidated compared to $345 million in short positions as of Feb. 3. Ethereum (ETH) took the heaviest damage, with $600 million in ETH liquidations, while Bitcoin (BTC) followed with $400 million. The price drops were just as brutal—Ethereum crashed to $2,500, down 20% in 24 hours, while Bitcoin dropped to $91,200 before bouncing back to $93,600, still losing 6.5% in a single day. Altcoins were hit even harder, with most in the top 100 seeing declines of 15% to 30% in just 24 hours, further amplifying the panic across the board.  The sheer amount of leverage in the system meant that as soon as prices started falling, liquidations snowballed, deepening the decline. The market, already fragile from recent volatility, couldn’t absorb the selling pressure fast enough. One analyst has called this the worst altcoin collapse since the Covid crash and warned against trying to “revenge trade” with leverage, emphasizing that now is the time for patience, not reckless bets. Worst crash for Altcoins I’ve seen since the Covid crash Don’t try and revenge trade this with leverage There will be huge opportunities after the dust has settled..— Crypto Michael (@MichaelXBT) February 3, 2025 For now, the damage is done. The next few days will determine whether this was just a temporary shakeout or the start of something bigger. 2025-02-03 06:16:24 https://crypto.news/app/uploads/2023/02/crypto-markets-red-sell-bear-market.jpeg

[cryptowala]

 Bitcoin and the Cryptocurrency Market: Trends and Forecasts

changes and technological advancements, are shaping the future of the market. Experts predict significant growth and that Bitcoin may once again reach its all-time high.

Bitcoin and Cryptocurrency Market Trends in 2023

Bitcoin went through a turbulent phase in 2023, losing almost 65% of its market cap. The downturn was largely due to a series of unforeseen events, including the dramatic collapse of Terra Luna and the FTX exchange.

Of course, macroeconomic pressures and legal troubles of large exchanges like Binance were not without their impact. However, the cryptocurrency market showed resilience, and the price of Bitcoin saw promising growth in 2024.

Bitcoin and Cryptocurrency Market Trends in 2024

Be sure to read:

Therapeutic properties of tarragon; from strengthening the immune system to improving digestion + how to prepare

How to make Tabrizi meatballs with aromatic vegetables

The year 2024 started with significant momentum for Bitcoin and the cryptocurrency market, generating a lot of excitement among crypto supporters. But a significant rebound occurred when Bitcoin surpassed its previous record high of $69,170 on March 8, 2024, reaching $70,083.

Just a few days later, on March 14, BTC broke through this peak again, this time to $73,750. This increase increased its market cap to $1.44 trillion and helped the total cryptocurrency market cap reach $2.77 trillion.

Bitcoin’s recovery journey has had its ups and downs. After falling below the psychological threshold of $31,000, Bitcoin entered a bearish phase and often traded below $30,000 for most of last year. However, it recovered significantly in late spring, gaining 89.74% year-to-date. As of July 28, 2024, Bitcoin is trading at $68,000, bringing its global market cap to $2.53 trillion.

Bitcoin trend forecast in 2025

Bitcoin enthusiasts and the cryptocurrency market often make overly optimistic and sometimes unrealistic predictions about the future of their beloved currency, with some analysts predicting that the price of Bitcoin will reach $1,000,000 by 2025.

“The idea of ​​Bitcoin reaching $1,000,000 by 2025 may seem very ambitious,” says Himanshu Maradia, founder and head of blockchain ecosystem CIFDAQ. “But several factors could make this scenario possible. The growing adoption of Bitcoin, the approval of Bitcoin ETFs in various countries, the weakening of traditional fiat currencies due to hyperinflation, and the increasing profitability for Bitcoin miners are all important drivers.”

Also, Standard Chartered Bank's recent revision and prediction of Bitcoin's price reaching $120,000 by the end of 2024 indicates increased confidence in BTC's potential.

As more investors and institutions look to Bitcoin as a hedge against inflation, the prospect of it reaching unprecedented heights is increasingly growing. If sovereign funds start investing in Bitcoin or its ETFs, the price of the currency could rise rapidly.

Conclusion

Since Bitcoin is a decentralized currency with a limited supply, its accumulation by large investors, or “Bitcoin whales,” can affect its price trend. Data shows that these investors are actively increasing their holdings, indicating a potential upward movement ahead for Bitcoin and the cryptocurrency market

Cifdaq.com

We’re thrilled to see CIFDAQ featured on CoinMarketCap's Community! □

Hmmmmmmmm

January 30, 2025

modify

comment

We’re thrilled to see CIFDAQ featured on CoinMarketCap's Community! 🚀 This recognition showcases our commitment to contributing valuable insights and thought leadership in the ever-evolving crypto industry. 👉 Check out the article to see how CIFDAQ is staying ahead in driving innovation and collaboration in digital finance. A big thank you to everyone supporting us on this exciting journey! 🙌 lnkd.in/dXygcW7q Himanshu Maradiya Sheetal Maradiya Rahul Maradiya Jay Hao Anil Vasu Ankur Garg Shipra Anand Mishra Muthuswamy Iyer Krunal Sheth #CryptoInnovation #BlockchainTechnology #CIFDAQ #CoinMarketCap #CryptoCommunity #DigitalFinance #CryptoEcosystem #Web3Journey

cifdaq.com

If you know, you know. □□

Hmmmmmmmm

January 30, 2025

modify

comment

If you know, you know. 😉💎 Himanshu Maradiya Sheetal Maradiya Rahul Maradiya Krunal Sheth Jay Hao Anil Vasu Ankur Garg Muthuswamy Iyer Shipra Anand Mishra #CIFDAQ #CIFD #BlockchainEcosystem #CryptoTrading #Web3Community

cifdaq.com

[cryptoenthu]

Bitcoin Price Prediction: Can Bitcoin Reach $1,000,000 by 2025?

2024 began with significant momentum for cryptocurrencies, especially like Bitcoin and Ethereum, eliciting enthusiasm among crypto enthusiasts. As of Dec. 05, 2024, Bitcoin hyped to an exceptional all-time high at $103,900, with a market capitalization of $2.02 trillion, representing a 6.80% increase in the last week.

Bitcoin has surged due to certainty fuelled by the U.S. presidential elections and Republican candidate Donald Trump’s victory. BTC traded around $95,000 in the last few days after nearly touching $100,000. As of today, Dec. 05, 2024, it surged to the extreme high of $103,900. The anticipation that Trump’s administration will usher in a friendly regulatory environment for cryptocurrencies has fueled the surge. 

As of Dec. 5, 2024, the world’s largest cryptocurrency is trading at $102,706. After Trump’s victory on Nov. 5, the price has surged around 45%, driven by a swathe of buying and pouring capital into U.S. bitcoin-backed exchange-traded funds.

Bitcoin’s Recovery Journey

Bitcoin has endured a tumultuous period, shedding approximately 65% of its market value over the past year. Crypto enthusiasts were taken aback by unforeseen events such as the Terra Luna crash, FTX decline, macroeconomic factors, and Binance’s legal issues. Nonetheless, the crypto market exhibited a remarkable recovery toward the end of the year, with BTC showing promising growth. 

Bitcoin surged to impressive heights, surpassing its all-time highs multiple times following the U.S. presidential elections, reaching $103,900 as of Dec. 05, 2024. BTC ETF options on the Nasdaq may have also contributed to the surge. This surge propelled its market capitalization to $2.03 trillion, contributing to the overall crypto market capitalization of $3.69 trillion, reflecting exceptional performance.

After surpassing the psychological threshold of the $31,000 mark, Bitcoin started exhibiting a bearish trend and traded below $30K levels for most of the last year. However, it has shown remarkable recovery in the latter months of the year.

The world’s largest cryptocurrency, BTC, which was on a recovery path, has increased around 147.39% in one year. As of Dec. 05, 2024, it is currently trading at $102,658, with a market capitalization of $2.03 trillion and a global cryptocurrency market capitalization of $3.69 trillion.

Cryptocurrency experts believed that if BTC maintained its level of $30,000, it could likely bounce back from there. Looking at the current scenario, Bitcoin surpassed its all-time high in March but witnessed a downtrend later.

In April 2023, the top cryptocurrency Bitcoin, touched the critical resistance of the $30,000 level for the first time since June 10, 2022, and then started dipping below $26,000. It significantly rose to $45,203 after May 2022. Crypto experts believe that if Bitcoin maintains the $45,000 level and beyond, it could reach $60,000 by the end of 2024. In the first three months of the year, BTC has already touched the level of $73,750 and set a new record for an all-time high.

While the future of Bitcoin is unknown, retail investors must be very cautious about every move of Bitcoin, as it has witnessed tumultuous before. Moreover, India’s stance on cryptocurrencies continues to be firm, with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act. In a specific gazette notification, the Union Finance Ministry of India stated that all the transactions related to digital assets or virtual currency would fall under the purview of the Prevention of Money Laundering Act (PMLA). 

The new development may appear damaging to the cryptocurrency community in India. However, the industry has praised the move as a step towards regulating this space. Without regulators, the enforcement agencies will immediately take recourse to any discrepancies. 

The Spot Bitcoin ETFs have been a tremendous factor in Bitcoin’s growth. After the SEC approved the ETFs in the U.S., retail investors showed great interest, leading to Bitcoin surpassing its all-time high. By the end of September, after the U.S. Federal Reserve’s rate cut, BTC is, as of Oct. 16, 2024, trading at $67,000. The U.S. Fed cut rates by 50 basis points, and the Bank of Japan kept interest rates steady. BTC rose around 3% a day after both central banks’ announcements.

One of the other reasons crypto experts were hopeful about Bitcoin is that this year, 2024, was a year for Bitcoin’s halving event. The Bitcoin halving event happens every four years, during which BTC rewards to its miners are cut by 50% (the miner’s payout will be reduced to 3.125 BTC). This event is usually positive for Bitcoin’s price, as it helps contract supply. 

Historically, halving has been seen as an excellent sign for bringing momentum to Bitcoin’s price. So far, this year’s halving that took place on April 20, 2024, has not caused the surge to the BTC, as experts anticipated. The current state of Bitcoin reflects a significant downtrend. 

The above table shows that past halving events have established long-term bullish drivers for Bitcoin’s price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC is a decentralized cryptocurrency, any central banks or governments can’t print it, and thus, Bitcoin’s total supply is limited. 

Moreover, “Bitcoin Whales,” referring to large investors, have started accumulating Bitcoin again. According to data from CoinMarketCap, these large Bitcoin whales, holding as of Dec. 3, 2024, have 248.60K BTC in their wallets, indicating that investors have been filling their wallets with a substantial amount of Bitcoins. This accumulation may contribute to boosting the price of Bitcoin.

Bitcoin Reached $100,000 In 2024

The year’s second half has been full of surprises and growth for cryptocurrencies. After the 2024 U.S. presidential elections, Republican candidate Trump’s race and victory have made people expect favorable regulations around crypto investment. The political change has made BTC reach its expected heights and surge past $100,000 in 2024, with few days left before the year ends. 

Himanshu Maradiya, chairman and founder of CIFDAQ, said, “Bitcoin’s leap past the $100,000 mark isn’t just a financial milestone—it’s a historic moment that cements the growing clout of decentralized assets in the mainstream. For investors, the spotlight now shifts to long-term planning: keeping an eye on market cycles, diversifying portfolios, and staying updated on regulatory shifts. 

While this breakthrough fuels optimism, he signals caution. “Seasoned investors see this as a chance to reassess risk strategies, while newcomers are urged to prioritize learning the ropes before diving in. The road ahead will demand both patience and conviction,” said Maradiya.

Note: The figures are sourced from CoinMarketCap.

Can Bitcoin Reach $1,000,000 by 2025?

According to Binance’s price prediction input for Bitcoin, the value of BTC may increase by +5% and reach 137,394.62  by 2030. The consensus rating indicates a bullish current sentiment. This indication is based on 3857 users’ crypto ratings for Bitcoin (BTC); 36.71% of users are bullish on BTC.

Bitcoin enthusiasts often make overly optimistic and sometimes unrealistic predictions for their favorite cryptocurrency. After the surge, numerous discussions have occurred around Bitcoin, the world’s largest digital coin. 

Vikram Subburaj, chief executive officer of Giottus, said that speculation is rife about how high BTC can go, with many predicting $1,000,000. Gold has a market capitalization of $17 trillion, and BTC is highly unlikely to reach the $1 million mark in 2025. However, BTC hitting the $1 million mark in subsequent years cannot be ruled out.

Bottom Line  

Among the myriad predictions on Bitcoin, the bottom line remains that it has experienced several downfalls and has emerged stronger than before each time. Its resilient nature instills a belief in crypto enthusiasts who see value in investing in decentralized currencies. 

Only time can tell whether Bitcoin continues to rise or face downfall, and trading Bitcoin should be done with full awareness; your investment may yield a different return than the anticipated return.

www.cifdaq.com

[aiandblockchainchronicles]

What Are Stablecoins and Why Are They Essential in Crypto?

The cryptocurrency market has revolutionized the world of finance, offering new opportunities for investors and users. However, one significant challenge in the crypto space is the extreme volatility associated with many digital currencies, like Bitcoin and Ethereum. These fluctuations make it difficult to use cryptocurrency for everyday transactions or as a stable store of value. This is where stablecoins come into play. Stablecoins are digital currencies designed to minimize volatility by pegging their value to a more stable asset, like a fiat currency or a commodity. The need for stablecoins has become more evident as people seek ways to enjoy the benefits of blockchain technology while avoiding the unpredictable price swings that have characterized the crypto market. In this blog, we will explore what stablecoins are, why they are essential in the crypto space, and how they work. We will also address the key benefits, risks, and their growing role in decentralized finance (DeFi) and the broader cryptocurrency ecosystem.

What Are Stablecoins?

Stablecoins are a class of cryptocurrencies designed to maintain a stable value, unlike many other cryptocurrencies that experience significant price fluctuations. The value of stablecoins is typically pegged to a reserve of assets like a fiat currency (such as the US dollar) or a commodity (such as gold). The idea behind stablecoins is to provide the stability of traditional currencies with the added benefits of blockchain technology, such as decentralization, transparency, and faster transactions.

There are different types of stablecoins, each employing a distinct method to maintain its value stability:

Fiat-Collateralized Stablecoins: These stablecoins are backed by fiat currencies such as the US dollar, Euro, or other traditional currencies. The issuer holds a reserve of the fiat currency in a bank or other trusted institution. The most well-known examples of fiat-collateralized stablecoins are Tether (USDT) and USD Coin (USDC).

Crypto-Collateralized Stablecoins: These stablecoins are backed by other cryptocurrencies, such as Ethereum or Bitcoin. The value of these stablecoins is maintained through a collateralized system where users lock up cryptocurrency in smart contracts to ensure the stability of the stablecoin. Examples of crypto-collateralized stablecoins include DAI.

Algorithmic Stablecoins: Unlike collateralized stablecoins, algorithmic stablecoins rely on algorithms and smart contracts to manage the supply of the coin to keep its value stable. These stablecoins are not backed by any physical assets but adjust their supply based on demand. Examples of algorithmic stablecoins include Terra (LUNA) and Ampleforth (AMPL).

Why Are Stablecoins Essential in Crypto?

One of the primary reasons stablecoins are essential in the crypto ecosystem is that they help address the volatility problem inherent in traditional cryptocurrencies. While assets like Bitcoin and Ethereum have seen incredible growth, they are also subject to sharp declines in value, which makes them unsuitable for everyday transactions or as a store of value. Stablecoins provide an alternative that combines the benefits of blockchain technology with the stability of traditional currencies.

Stablecoins also play a crucial role in facilitating the bridge between the crypto world and traditional financial systems. They allow users to transact seamlessly between fiat and digital currencies without worrying about the high volatility typically associated with cryptocurrencies.

Moreover, stablecoins are a critical component of decentralized finance (DeFi), a rapidly growing sector within the crypto space. DeFi platforms use stablecoins to offer lending, borrowing, and trading services without relying on traditional intermediaries like banks. This opens up new possibilities for financial inclusion, as anyone with an internet connection can access these services.

How Do Stablecoins Work?

Stablecoins maintain their value by being pegged to an asset that is relatively stable. There are two primary mechanisms by which stablecoins achieve this stability:

Collateralized Models: In fiat-collateralized stablecoins, the issuer holds a reserve of fiat currency equivalent to the value of the stablecoins issued. For example, if a user holds 1 USDC, the issuer will have 1 USD in reserve. Similarly, crypto-collateralized stablecoins are backed by cryptocurrencies like Ethereum. If the price of the collateral falls, the system automatically adjusts to maintain the stablecoin's value.

Algorithmic Models: Algorithmic stablecoins, on the other hand, use smart contracts and algorithms to regulate supply and demand. When the price of the stablecoin goes above or below its pegged value, the algorithm either issues more coins or reduces the supply to stabilize the price.

What Are the Benefits of Stablecoins?

Stablecoins offer several key benefits that make them valuable in the crypto ecosystem:

Low Volatility: Stablecoins provide a predictable and stable value, making them ideal for transactions and as a store of value.

Ease of Use for Transactions: Users can easily send and receive stablecoins for payments, remittances, or investments, with fewer concerns about sudden value fluctuations.

Increased Liquidity in the Crypto Market: Stablecoins make it easier to move in and out of cryptocurrency positions, as they can be traded on exchanges without exposing users to the risks of market volatility.

DeFi Use Cases: Stablecoins are widely used in decentralized finance platforms for lending, borrowing, staking, and earning yield, further increasing their utility in the crypto space.

Are Stablecoins Safe?

While stablecoins offer many advantages, they are not without their risks. One of the primary concerns is the regulatory uncertainty surrounding them. Governments around the world are still figuring out how to regulate stablecoins, and some countries have imposed or are considering bans on their use. Additionally, there are risks associated with the backing assets—if the reserve is not properly managed or audited, users may face losses.

To ensure the safety of stablecoins, it’s crucial to choose well-established stablecoins backed by reputable institutions or decentralized mechanisms that have undergone thorough audits. Transparency and regular audits are essential in maintaining trust in the system.

Demand Queries Related to Stablecoins

What is the difference between stablecoins and Bitcoin? Stablecoins are designed to maintain a stable value, whereas Bitcoin is known for its volatility.

Can stablecoins replace traditional currencies? While stablecoins can serve as a medium of exchange, it is unlikely that they will fully replace traditional currencies in the near future.

What are the most popular stablecoins in the market? USDC, Tether (USDT), and DAI are among the most widely used stablecoins.

How to buy stablecoins? Stablecoins can be purchased through exchanges like Coinbase, Binance, and Kraken using fiat currency or other cryptocurrencies.

Conclusion

In conclusion, stablecoins are an essential part of the crypto ecosystem. They provide a stable medium of exchange, reducing the volatility that often hampers the adoption of cryptocurrencies. As the demand for decentralized finance and blockchain-based solutions grows, stablecoins will continue to play a critical role. For businesses or individuals looking to build solutions based on stablecoins, Blockchain App Factory offers expertise in creating and deploying stablecoin-based systems.

[sahilcidfaq]

Bitcoin Price Prediction: Can Bitcoin Reach $1,000,000 by 2025?

2024 began with significant momentum for cryptocurrencies, especially like Bitcoin and Ethereum, eliciting enthusiasm among crypto enthusiasts. As of Dec. 05, 2024, Bitcoin hyped to an exceptional all-time high at $103,900, with a market capitalization of $2.02 trillion, representing a 6.80% increase in the last week.

Bitcoin has surged due to certainty fuelled by the U.S. presidential elections and Republican candidate Donald Trump’s victory. BTC traded around $95,000 in the last few days after nearly touching $100,000. As of today, Dec. 05, 2024, it surged to the extreme high of $103,900. The anticipation that Trump’s administration will usher in a friendly regulatory environment for cryptocurrencies has fueled the surge. 

As of Dec. 5, 2024, the world’s largest cryptocurrency is trading at $102,706. After Trump’s victory on Nov. 5, the price has surged around 45%, driven by a swathe of buying and pouring capital into U.S. bitcoin-backed exchange-traded funds.

Bitcoin’s Recovery Journey

Bitcoin has endured a tumultuous period, shedding approximately 65% of its market value over the past year. Crypto enthusiasts were taken aback by unforeseen events such as the Terra Luna crash, FTX decline, macroeconomic factors, and Binance’s legal issues. Nonetheless, the crypto market exhibited a remarkable recovery toward the end of the year, with BTC showing promising growth. 

Bitcoin surged to impressive heights, surpassing its all-time highs multiple times following the U.S. presidential elections, reaching $103,900 as of Dec. 05, 2024. BTC ETF options on the Nasdaq may have also contributed to the surge. This surge propelled its market capitalization to $2.03 trillion, contributing to the overall crypto market capitalization of $3.69 trillion, reflecting exceptional performance.

After surpassing the psychological threshold of the $31,000 mark, Bitcoin started exhibiting a bearish trend and traded below $30K levels for most of the last year. However, it has shown remarkable recovery in the latter months of the year.

The world’s largest cryptocurrency, BTC, which was on a recovery path, has increased around 147.39% in one year. As of Dec. 05, 2024, it is currently trading at $102,658, with a market capitalization of $2.03 trillion and a global cryptocurrency market capitalization of $3.69 trillion.

Cryptocurrency experts believed that if BTC maintained its level of $30,000, it could likely bounce back from there. Looking at the current scenario, Bitcoin surpassed its all-time high in March but witnessed a downtrend later.

In April 2023, the top cryptocurrency Bitcoin, touched the critical resistance of the $30,000 level for the first time since June 10, 2022, and then started dipping below $26,000. It significantly rose to $45,203 after May 2022. Crypto experts believe that if Bitcoin maintains the $45,000 level and beyond, it could reach $60,000 by the end of 2024. In the first three months of the year, BTC has already touched the level of $73,750 and set a new record for an all-time high.

While the future of Bitcoin is unknown, retail investors must be very cautious about every move of Bitcoin, as it has witnessed tumultuous before. Moreover, India’s stance on cryptocurrencies continues to be firm, with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act. In a specific gazette notification, the Union Finance Ministry of India stated that all the transactions related to digital assets or virtual currency would fall under the purview of the Prevention of Money Laundering Act (PMLA). 

The new development may appear damaging to the cryptocurrency community in India. However, the industry has praised the move as a step towards regulating this space. Without regulators, the enforcement agencies will immediately take recourse to any discrepancies. 

The Spot Bitcoin ETFs have been a tremendous factor in Bitcoin’s growth. After the SEC approved the ETFs in the U.S., retail investors showed great interest, leading to Bitcoin surpassing its all-time high. By the end of September, after the U.S. Federal Reserve’s rate cut, BTC is, as of Oct. 16, 2024, trading at $67,000. The U.S. Fed cut rates by 50 basis points, and the Bank of Japan kept interest rates steady. BTC rose around 3% a day after both central banks’ announcements.

One of the other reasons crypto experts were hopeful about Bitcoin is that this year, 2024, was a year for Bitcoin’s halving event. The Bitcoin halving event happens every four years, during which BTC rewards to its miners are cut by 50% (the miner’s payout will be reduced to 3.125 BTC). This event is usually positive for Bitcoin’s price, as it helps contract supply. 

Historically, halving has been seen as an excellent sign for bringing momentum to Bitcoin’s price. So far, this year’s halving that took place on April 20, 2024, has not caused the surge to the BTC, as experts anticipated. The current state of Bitcoin reflects a significant downtrend. 

The above table shows that past halving events have established long-term bullish drivers for Bitcoin’s price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC is a decentralized cryptocurrency, any central banks or governments can’t print it, and thus, Bitcoin’s total supply is limited. 

Moreover, “Bitcoin Whales,” referring to large investors, have started accumulating Bitcoin again. According to data from CoinMarketCap, these large Bitcoin whales, holding as of Dec. 3, 2024, have 248.60K BTC in their wallets, indicating that investors have been filling their wallets with a substantial amount of Bitcoins. This accumulation may contribute to boosting the price of Bitcoin.

[reddragdiva]

by Amy Castor and David Gerard

Tornado Cash founders charged with money laundering and sanctions busting

Federal Reserve has Farmington Bank taken out front and shot

Prime Trust not only lost its wallet keys, it was gambling on Terra-Luna

Binance, Sam Bankman-Fried and all sorts of other great guys