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$1 To $10,000: Top 10 Cryptocurrencies To Reach The Moon By 2050

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$1 To $10,000: Top 10 Cryptocurrencies To Reach The Moon By 2050

Cryptocurrencies to reach the moon, with the flourishing sector that will provide profitable returns

As 2022 comes to end, cryptocurrencies are still flourishing, and many investors are hunting for promising and probable digital cryptocurrencies to reach the moon that will provide returns. Digital tokens are now often utilized as a trading medium in addition to being a source to double or triple your investment.

Even though they are unregulated, inexpensive top cryptocurrencies like Dogecoin, Shiba Inu, XRP, and others are safer and less prone to fraud because of blockchain technology. Investors in cryptocurrencies are attempting to maximize their portfolios by adding additional coins or by building totally new portfolios. Choosing the right tokens to invest in is essential to building a profitable cryptocurrency portfolio. Analysts predict cryptocurrencies to explode in the market. Currently, cryptocurrencies like Bitcoin and Ethereum rule the banking sector. More and more people are curious. The top 10 cryptocurrencies that will still be popular in 2050 are listed in this article.

 

1.Dogecoin

Dogecoin is a proof-of-work consensus process in which miners must use costly, powerful computers to solve challenging math problems to gain the privilege to validate transactions. The transaction processing costs and speed are lower and faster with Dogecoin than with Bitcoin. When SHIB achieves US$1, it will be one of the top 10 cryptocurrencies to reach the moon

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2.Bitcoin

You probably aren’t surprised to learn that one of the finest cryptocurrencies to purchase in 2023 is Bitcoin. And there are valid justifications for it. As a start, we think it’s the greatest cryptocurrency to buy right now since it has historically excelled, rising by more than 100000% over the previous ten years. Second, it is supported by one of the most decentralized and practical blockchain technologies, whose adoption rate is certain to soar in the next few years. We also think it’s a great addition to any cryptocurrency portfolio with an eye toward the future because we anticipate it will experience massive price growth in the coming years.

 

3.XRP

The possibility for XRP to be one of the majorly rising coins of 2023 has increased recently. At the time this article was being written, the price of XRP was $0.4+, up 1% from the previous day. Although this might not seem like much, earnings from cryptocurrencies usually add up over time. Traders might expect their investments to double or perhaps quadruple if XRP keeps up its trend in 2023.

 

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4.Ethereum

The first significant project to use smart contra was Ethereum. Decentralized apps (dApps) may be launched on desktop and mobile platforms thanks to these smart contracts. The initial coin offering (ICO) trend was sparked by the thousands of tokens that operate on the Ethereum network

 

5.USD Coin

One of the most desirable cryptocurrencies is USD Coins because of its favorable risk-reward ratio. Less risk can nevertheless result in above-average profits for investors. The USD Coin offers investors many advantages even though it isn’t the ideal asset for making capital gains.

 

6.Cardano

Given their current circumstances, Cardano and Shiba Inu have a stronger future than Shiba Inu. Even though the company has postponed Cardano’s development, they are constantly working to improve the ADA token’s current functionality

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7.Shiba Inu

Dogecoin was born out of a meme, but very quickly it was able to amass a sizable following of devoted followers. SHIB has strong selling factors and has become one of the most popular cryptocurrencies on the market despite its bizarre beginnings. In 2021, the community also developed an NFT project around SHIB, which helped it attract additional investors.

 

8.Polkadot

Another blockchain network that is known for developing interoperability protocols is Polkadot. It enables simultaneous transactions on a single network and connects many chains in a single network. For governance, connecting to parachains, and governance, it uses its leading cryptocurrency, DOT.

 

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9.Avalanche

Another cryptocurrency that exhibits a clear purpose, as opposed to meme coins like Shiba Inu, is Avalanche, along with Solana. One of the numerous initiatives looking for alternatives to Ethereum is Avalanche. Compared to other cryptocurrencies, its network can process transactions a lot more quickly

 

10.Binance Coin

The most valuable exchange token currently available is called BNB, and it was launched by Binance, the biggest cryptocurrency exchange in the market. BNB also continues to be more valuable as Binance expands its market.

The post $1 to $10,000: Top 10 Cryptocurrencies to Reach the Moon by 2050 appeared first on Analytics Insight.

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Crypto Miners In Kazakhstan To Buy Only Surplus Power, Under Digital Assets Bill

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Crypto Miners In Kazakhstan To Buy Only Surplus Power, Under Digital Assets Bill

Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits.

Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules

The lower house of Kazakhstan’s parliament, the Mazhilis, has adopted the bill “On Digital Assets of the Republic of Kazakhstan” and four related draft laws which aim to regulate mining, among other crypto activities, local media reported.

In accordance with the legislation, miners operating in the country will be able to buy power from the national energy system only if it has a surplus to offer, and exclusively through the KOREM exchange, the country’s centralized electricity market.

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Commenting on the new regime, Mazhilis member Ekaterina Smyshlyaeva pointed out that price restrictions have been lifted for that excess amount of electricity and insisted, quoted by Tengrinews, that trades will be governed by market mechanisms.

The bill also introduces two categories of mining licenses. The first type will be granted to entities that operate infrastructure such as data processing centers. They will have to meet certain equipment, location, and security standards.

The second one will be issued to owners of mining hardware who rent space in crypto farms and do not claim an energy quota. Mining pools will have to abide by additional rules such as the requirement to have their servers based in Kazakhstan and comply with local information security regulations, Smyshlyaeva added.

The Central Asian Nation, which has become one of the world’s main crypto mining destinations since China cracked down on the industry in 2021, has blamed its growing power deficit on the influx of miners. According to recent arrangements with Russia, Kazakhstan’s mining farms will be supplied with Russian electricity, too.

Cryptocurrency Miners to Pay Corporate Tax on the Value of Their Reward

The authors of the law, which was approved on first reading in October, have also thought about taxation. Crypto mining companies will be subject to corporate income tax, calculated based on the value of the digital assets received as reward. The same tax for mining pools will be levied on their commission.

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Individuals who carry out cryptocurrency transactions will be paying value added tax (VAT), the report revealed without providing further details or specifying the exact rates. Legal entities offering crypto exchange services will also have to pay corporate tax.

Smyshlyaeva remarked that the circulation and exchange of cryptocurrencies is prohibited in Kazakhstan and the trading platforms can only operate under the special legal regime of the Astana International Financial Center (AIFC), with a license issued by the financial hub but without the tax benefits offered to other registered organizations.

The authorities also plan to ban the advertising of cryptocurrency transactions. At the same time, different regulations have been adopted for secured digital assets, similar to those that apply to securities. A permission to issue and circulate such assets would depend on the availability of collateral.

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bill, Circulation, Crypto, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, Digital Assets, draft law, Exchange, Kazakhstan, Law, Miners, mining, mining farms, Regulations, requirements, rules, Standards, Tax, Taxation

Do you think Kazakhstan will remain a hotspot for crypto mining after the new legislation is enforced? Tell us in the comments section below.

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Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Russia Expects Sizable Increase In Crypto Miners’ Share Of Power Usage

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Russia Expects Sizable Increase In Crypto Miners’ Share Of Power Usage

The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year.

Russian Energy Ministry Forecasts Rise in Crypto Mining’s Electricity Consumption

The share of cryptocurrency miners may reach 1.5 – 2% of Russia’s total consumption of electrical power by the end of 2022, according to the Russian Deputy Energy Minister Pavel Snikkars. During a crypto conference organized by the business news portal RBC, the government official recalled that last year’s figure was around 1%.

The availability of electricity for mining across the vast country would depend on the number of users that want to connect to the grid in a particular location, Snikkars added. In certain Russian regions — the deputy minister mentioned Murmansk as an example — unused power generating capacities are currently being offered to the crypto industry.

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Snikkars explained the availability of such resources with the way new power plants are built. A decision to start the construction of one, which may take up to a decade in the case of nuclear stations, is based on requests from potential consumers in the area. However, some projects are not ready to launch on time or at all and, as a result, the generating capacities are not fully loaded.

Individuals minting digital currencies are also causing trouble raising consumption in certain places with low electricity rates, where the infrastructure cannot handle the growing power usage, the expert said. He emphasized the energy industry should take measures to ensure reliable supply for other users.

During the event, Pavel Snikkars also talked about the efforts to regulate cryptocurrency mining as a business activity, voicing his department’s support for the draft legislation filed in mid-November with the lower house of Russian parliament, the State Duma.

The bill amending the current law “On Digital Financial Assets” is yet to be approved by the Legal Department of the Duma and reviewed by the Central Bank of Russia. At the forum, the head of the parliamentary Financial Market Committee, Anatoly Aksakov, said he expects lawmakers to pass the law before the end of the year.

Snikkars and Aksakov’s statements follow a recent report revealing that demand for mining devices has been rising in Russia in the past couple of months. Besides electricity consumption, mining revenue has been also growing over a period of several years before this year’s crypto winter and sanctions over the war in Ukraine took a toll on Russian mining businesses.

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Aksakov, Conference, consumption, Crypto, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, Electricity, Energy, energy ministry, Forecasts, Miners, mining, power, Russia, russian, Snikkars, statements, usage

Do you think electricity consumption in the Russian crypto mining industry will continue to grow? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Dominance Has Remained Under 40% For More Than 3 Consecutive Months

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Bitcoin Dominance Has Remained Under 40% For More Than 3 Consecutive Months

Over the last 100 days or roughly three months, bitcoin’s market dominance among 21,958 different crypto assets worth roughly $850 billion has been under 40%. Bitcoin dominance has been under 40% since Aug. 27, 2022, with a brief instance of rising above the 40% range 52 days ago, on Oct. 15.

Bitcoin’s Market Superiority Lost 41% in 35 Months

Bitcoin’s market capitalization has been above the $325 billion region since Nov. 29, 2022. At the time of writing, bitcoin’s (BTC) overall market valuation is around $328 billion, which represents around 38.3% of the crypto economy’s entire $856,947,917,107 market cap.

The second leading crypto asset, ethereum (ETH), on the other hand, has a market cap today of around $155.38 billion or 18.1% of the aggregate $856 billion. In the early days, BTC’s market supremacy was above the 90% region from when it first gained value in 2010, all the way up until the second week of Nov. 2014.

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Crypto market dominance, among the thousands of digital asset market capitalizations, refers to the relative size of the coin’s capitalization compared to the overall market capitalization of the entire crypto economy. After mid-Nov. 2014, BTC’s market dominance slid below the 90% region but remained above the 80% range all the way until the first week of March 2017.

Bitcoin dominance among the top ten crypto assets by market valuation.

Essentially, during those early days, BTC’s market superiority was 90% for 61 months and after Nov. 2014, it was above 80% for 33 months. However, there were a brief few instances in Jan. 2015, March 2016, May 2016, and Sept. 2016, that saw BTC’s market dominance drop below the 80% region.

Bitcoin dominance has been lower than 80% for 68 months to date, and it’s been struggling to hold the 40% range in more recent times. On May 15, 2021, and up until Aug. 27, 2022, BTC’s market supremacy in terms of capitalization had been above the 40% range which was around 15 months.

Ethereum (ETH) dominance.

Ethereum, Tether, and Dogecoin Market Dominance Levels Rise

Today, it’s been more than a solid three months of BTC dominance below the 40% range and dominance has not been this low since May 2018. From a logarithmic perspective, ethereum’s (ETH) market dominance, among all the other digital assets, has shown a significant rise since Jan. 2020.

Tether (USDT) dominance.

ETH dominance increased 130.86% since Jan. 2020, while BTC dominance gradually slid 41.96% in that time frame. From January 2020 until today or roughly 35 months, tether’s (USDT) market dominance jumped 285%, in comparison to the aggregate value of more than 20,000 listed crypto assets.

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Dogecoin (DOGE) dominance.

BNB saw its market dominance grow by 440% over the last 35 months and usd coin’s (USDC) dominance jumped by 2,500%. Like bitcoin (BTC), xrp’s (XRP) market supremacy has dropped during the last 35 months, sliding 47% since January 2020.

Out of the top ten digital assets in terms of market valuations, BTC’s and XRP’s dominance levels have seen the worst declines. The meme token dogecoin’s (DOGE) dominance level, on the other hand, jumped 1,100% higher during the past 35 months.

There’s a great deal of people who don’t put much value into market capitalization and dominance data when it comes to digital currencies. For instance, a bitcoin maximalist would say that BTC’s market cap is all that matters, and others may say that a meme coin like DOGE shouldn’t be compared to blockchains that were not meant to be a joke.

However, many crypto supporters do believe market dominance levels offer meaningful data. Bitcoin and ethereum, for instance, can be viewed against their competitors as having high market superiority levels, which can have a significant influence on the market. More often than not, when BTC’s and ETH’s prices go up or down, alternative crypto assets follow the dominant crypto’s market patterns.

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30 day stats, Bitcoin, bitcoin dominance, BNB Dominance, BTC, BTC & XRP, BTC Dominance, BUSD, crypto market update, Cryptocurrencies, DOGE dominance, Dogecoin Dominance, Dominance, ETH, ETH dominance, Ethereum, Global Trade Volume, Market Caps, Market Update, Markets, monthly stats, Stablecoins, Tether, usd coin, USDC, USDC Dominance, USDT, XRP Dominance

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What do you think about bitcoin’s dominance levels among the thousands of market capitalizations? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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