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Top 10 Cryptocurrencies To Buy After Selling Shiba Inu In The Bear Market

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Top 10 Cryptocurrencies To Buy After Selling Shiba Inu In The Bear Market

The top cryptocurrencies are attracting investors looking to diversify their portfolios.

With the hype around cryptocurrencies in the last few years, you are probably thinking of starting your crypto investing. The top cryptocurrencies are attracting investors looking to diversify their portfolios. Beginners are having difficulties finding the top cryptocurrency to invest in today. Specific cryptocurrencies are suited to specific needs, such as investment, application development, day trading, and so on. Having a deeper understanding of currencies would give you a better chance of making an informed decision. This article features the top 10 cryptocurrencies to buy after selling Shiba Inu in the bear market.

10 OF THE BEST CRYPTOCURRENCIES TO INVEST IN 2022 AND BEYOND

TOP FIVE WAYS TO SURVIVE THE CRYPTO BEAR MARKET IN 2022

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WILL NFTS STEP OVER THE CRYPTOCURRENCY BUZZ IN 2022 AND BEYOND?

 

Ethereum

Ethereum is different from bitcoin. Recently, crypto broke its records, stabilizing its position in the market. Its network allows developers to create their own cryptocurrency utilizing the ether network. Even though it was launched years after several other cryptocurrencies, it has far exceeded its place in the market because of its unique technology. It is one of the best cryptocurrencies to buy after selling off your Shiba Inu.

 

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StreamCoin

StreamCoin is in our second spot for being one of the new promising cryptocurrencies in the market. StreamCoin is developing a blockchain ecosystem for live streamers, content creators, and viewers alike. This ecosystem features StreamCoin’s own NFT marketplace, where users can mint their own videos as NFTs.

 

Binance Coin

Because of its performance, the Binance coin has proven to be one of the most stable investment options. Binance is the world’s largest cryptocurrency exchange, according to CoinMarketCap (U.S. residents must use the Binance, US version). But despite its extensive functionality and the coin’s success in Binance sub-projects, the Binance coin is still a highly volatile investment.

 

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ApeCoin

ApeCoin is currently the best crypto to buy and invest in today. If you have been following cryptocurrencies for most of 2022, you know that ApeCoin has been attracting a lot of hype this year. It is linked to the world-famous Bored Ape Yacht Club NFTs. When ApeCoin first hit the market, it is rallied by thousands of percentages before a correction followed. However, there is still a lot going on with ApeCoin that makes it one of the best altcoins to buy now

 

Stellar

Aside from rapid, low-cost execution, Stellar has also had some real-world runs. It worked with IBM to test its cross-border payments platform with a dozen banks in the South Pacific region in 2017. It’s also part of a collaboration with Visa and Tala to bring financial blockchain solutions to emerging markets where access to basic financial services is limited.

 

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Dogecoin

Thanks to Elon Musk’s moniker as the ‘Dodgemaster’, which brought DOGE to the surface, after months of criticism for being just a meme coin. Nobody expected this coin to become legit and be considered a long-term investment by other crypto traders. DOGE rose to prominence this year and is one of the most cost-effective cryptos in the market. Several crypto analysts are considering dogecoin as a viable investment option.

 

Flux

The crypto is a savvy play on Web 3.0 development, and it is one of the coins that is primed for a breakout over the year not only due to speculative hype but to a product offering that strengthens its fundamental value. Of course, it doesn’t hurt that it’s rapidly growing a fan base over social media that wants to see investors far and wide exposure to the network.

 

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XRP

XRP was created by the founders of the digital payment processing company Ripple. The crypto serves as a platform for allowing exchanges between both crypto and fiat currencies. Ripple is investing heavily in the NFT projects that use the XRP ledger, which is a public blockchain. Experts believe that this investment indicates that the crypto is positioning itself as another ‘Ethereum killer’.

 

Tether

Tether tokens are the most widely adopted stablecoins, having pioneered the concept in the digital token space. A disruptor to the conventional financial system and a trailblazer in the digital use of traditional currencies, Tether Tokens support and empower growing ventures and innovation, throughout the blockchain space. Tether Tokens exist as a digital token built on multiple blockchains.

 

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Nano

The purpose of a financially focused blockchain is to speed up payment settlement times, dramatically reduce costs, and democratize the process to allow everyone to participate. This is precisely what Nano does with its block-lattice blockchain. Rather than having a single blockchain, every user on Nano has their own blockchain, which they can add to without having to compete with other users. This makes Nano’s network scalable and highly efficient — the average transaction is completed in under a second.

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Central Bank

ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

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ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

One in every 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the richest are most likely to own crypto assets, poor families are not far behind, the poll indicates.

Dutch Households Lead in Terms of Crypto Ownership, ECB Survey Shows

Every tenth eurozone household has purchased bitcoin or other cryptocurrencies, according to the latest Consumer Expectations Survey conducted by the European Central Bank (ECB). Europe’s financial authorities are now trying to establish if the crypto market downturn could affect household budgets, Reuters reported.

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The results from the latest edition of the monthly poll were announced Tuesday. The study reveals that an average of 10% of the households in six participating eurozone countries hold crypto assets. Among them, the Netherlands had the largest proportion of crypto owners at 14% while France ranked last with just 6%.

Some 37% of the respondents said they were holding up to 999 euros worth of cryptocurrency (approx. $1,070 at the time of writing), the monetary authority detailed, and 29% had between 1,000 euros and 4,999 euros. Another 13% owned between 5,000 euros and 9,999 euros. The balance had invested more than that, the report unveils.

Across these nations – Belgium, France, Germany, Italy, the Netherlands, and Spain – the richest 20% of the polled were most likely to own cryptocurrencies. At the same time, a greater proportion of lower-income households hold digital assets than the segment between the two groups.

The authors of the survey have also noted that young adult males and highly educated people were more inclined to invest in crypto. “With regard to financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto assets,” the ECB pointed out.

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The eurozone’s central bank didn’t miss the opportunity to reiterate its stance that cryptocurrencies are unsuitable for retail investors. The regulator also called on EU authorities to urgently approve new rules for crypto assets in the 27-member bloc. The data has been published as part of ECB’s Financial Stability Review as European legislators are working to finalize the Markets in Crypto Assets (MiCA) legislation.

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Central Bank, Consumers, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, data, ECB, EU, European Union, Eurozone, Expectations, households, Legislation, Poll, Regulation, study, Survey

What do you think about the findings in the ECB’s Consumer Expectations Survey? 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

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Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty

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Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty

Institutional investors have been a big part of the crypto market ever since they started investing in the market. Just like every other investors, institutional investors are not immune from the wild price fluctuations that characterizes the crypto market. This has resulted in big money looking for safe havens to move their money into while the worst of the market blows over. Sometimes, they turn to altcoins but this time around seem to have fond better luck with crypto products.

Outflows Rock Market

The recent recovery of the crypto market has been rocked once more by outflows. As prices had recovered, more investors had chosen to take profits and this had lead to more outflows. The previous week saw these outflows from digital investment products grow as high as $141 million in a single week, one of the largest in 2022. This had seen the total assets under management (AuM) decline towards one-year lows, now sitting at $38 billion. The last time AuM was this low had been in July 2021.

Related Reading | LUNA Records 100% Growth In A Single Day. More Upside Coming?

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Both Bitcoin and altcoins were not spared the onslaught. For the pioneer cryptocurrency, the inflow trend from the previous week had been swiftly reversed. It instead saw outflows totaling $154 million in a single week, making it the largest loser from last week. In the same vein, Ethereum had also followed in the footsteps of bitcoin with outflows reaching $0.3 million. 

Other altcoins would not follow this trend though. Digital assets such as Cardano and Polkadot have been making their way into the radar of institutional investors and this saw both asset bring in $1 million in inflows respectively. 

Crypto market cap drops to $1.239 trillion | Source: Crypto Total Market Cap on TradingView.com

Blockchain equity investment products would suffer the same fate as Bitcoin and Ethereum and outflows had reached $20 million. This followed the recent trend of broad sell-off in equities that had seen more investors move out of them.

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Multi-Crypto Products Provide HavenB

With so much bad news floating around the market, institutional investors have sought refuge in other places besides directly investing in cryptocurrencies. What they have landed on have been the multi-crypto investment products which have emerged the recent winners for last week. 

These multi-crypto investment products saw inflows totaling $9.7 million for last week alone. This has brought the total assets under management to $185 million for multi-crypto investment products, while the total inflows make up 5.3% on a year-to-date basis.

Related Reading | Long Liquidations Continue To Rock Market As Bitcoin Struggles To Settle Above $30,000

It remains one of the best performing when compared to its other counterparts. While others have seen countless weeks of outflows in 2022 so far, there have been only two weeks where multi-crypto investment products had recorded outflows, making it a safer bet for institutional investors during times of market uncertainty.

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Nevertheless, year-to-date and month-to-date net flows remain positive for bitcoin. It currently sits at $307 million and $187 million respectively. Although $1.1 million had left the market as a result of outflows from short bitcoin.

Featured image from Moneycentral, chart from TradingView.com

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Arrest

Russian Court Recognizes Cryptocurrency As Means Of Payment, Prosecutors See Precedent

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Russian Court Recognizes Cryptocurrency As Means Of Payment, Prosecutors See Precedent

The City Court of St. Petersburg has recognized a large amount of cryptocurrency handed over by the victim in an extortion case as a means of payment, Russian media reported. The prosecutor’s office in Russia’s second-largest city describes the ruling as a precedent.

Two Men Sentenced for Cryptocurrency Extortion in Russia

Two Russian citizens have been sentenced to nine and seven years in prison under strict regime for extorting 5 million rubles (almost $90,000) in cash and 55 million rubles (close to $1 million) in digital assets from another man.

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In the course of the trial, the St. Petersburg City Court has recognized the cryptocurrency as a means of payment, the crypto page of Russian business news portal RBC reported. Prosecutors consider the ruling a first, as the government in Moscow is yet to determine the legal status of bitcoin and the like.

Four years ago, one of the perpetrators, Pyotr Piron, introduced himself to the victim, G.A. Shemet, as an officer from the Federal Security Service (FSB). He threatened Shemet with criminal prosecution to extort money from him in the form of fiat and cryptocurrency, the article details.

As Shemet did not believe Piron was a security official and refused to give him the funds, the latter enlisted the services of an accomplice, Yevgeny Prigozhin, a former employee of the Russian Ministry of Internal Affairs (MVD).

The two told Shemet a criminal investigation will be launched against him for alleged illegal circulation of cryptocurrency. In the summer of 2018, they staged a fake arrest of the crypto owner who, under the threat of torture, handed over the fiat cash and his crypto stash.

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The city court’s initial decision did not take into account the misappropriated crypto. It stated in the verdict that cryptocurrency “is not a means of payment on the territory of the Russian Federation, therefore it cannot be recognized as an object of civil rights and a subject of a crime.”

Following an appeal, a cassation court declared that the cryptocurrency can nevertheless be considered a means of payment and returned the case to the court of first instance. Without changing the prison terms of the defendants, the city court issued a new verdict, adding the digital cash.

The development comes after last month, a district court in St. Petersburg allowed law enforcement officials to confiscate stolen cryptocurrency in another criminal case. Investigators had demanded the seizure of two dozen crypto wallets of a suspect, holding 1 billion rubles in ethereum (ETH).

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Arrest, Case, city court, Court, Crypto, Cryptocurrencies, Cryptocurrency, Decision, Extortion, legal status, means of payment, precedent, Regulation, Regulations, ruling, Russia, russian, Seizure, st petersburg, verdict

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Do you expect to see more cases involving cryptocurrency in Russian courts? Tell us 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

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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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