Author: hotcrypto
On August 18, MercadoLibre Inc, a multinational e-commerce company based in Latin America, announced the creation of a new cryptocurrency called MercadoCoin, which will be implemented in its loyalty program. As reported by Reuters, the cryptocurrency will run on the Ethereum network as an ERC-20 token priced at $0.10 each. It will be used primarily for cashback and purchases inside MercadoLibre’s platform. The developer team also hinted at opening the token to the secondary market at some point, but did not elaborate on the idea: “MercadoLibre’s cryptocurrency will be initially valued at $0.10 apiece before being open to market fluctuation.”…
Trustees Executors CEO urges investors to be wary of ‘pump-and dump’ crypto schemes promoted by celebrities as prices fall Friday, August 19th 2022, 9:02AM Investors are being urged to be wary of potentially misleading cryptocurrency offers as the popular digital asset class suffers a big drop in prices. The first half of 2022 has been bad for the crypto market, with Bitcoin and Ethereum down more than 50% from their all-time highs in late 2021. Trustees Executors chief executive Ryan Bessemer says the global popularity of crypto has seen the rise of “pump-and-dump” schemes that can mislead investors into buying…
Key Takeaways Cryptocurrency exchange Gemini announced that it will support Polygon (MATIC) staking starting today. Support for Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Audius (AUDIO) will be added in the future. The service is being introduced as Ethereum prepares to transition from mining to staking with “the Merge.” Share this article Gemini has announced support for staking, allowing users of its exchange to earn rewards on eligible crypto assets.Gemini to Offer StakingGemini will support staking beginning today, August 18.In an announcement, Gemini said that users will initially be able to stake and earn rewards on Polygon’s MATIC token. It…
The popular Phantom Wallet has introduced the “burn NFT feature” that provides users rewards in SOL tokens for reporting spams in a bid to thwart the rampant frauds in the crypto space. The announcement comes close on the heels of a massive hacking attack on the Solana-based crypto wallets in the first week of August. Criminals stole around $5.2 million worth of cryptos after hacking into some 8,000 Solana-based crypto wallets, mostly Phantom wallets. In a recent tweet, Solana’s head of communications, Austin Fedora, said that “60 per cent of the wallets drained” in the attack were Phantom wallets. Phantom’s…
The IOTA coin has been wavering in range for more than three months. After its recent bullish reversal from $1 support, the price has again approached the $1.6 resistance with the hope of a bullish breakout and a new rally. IOTA Key technical points The MIOTA coin price jumps above the 50-and-200-day EMA The intraday trading volume in the MIOTA coin is $294 Million, indicating 94.5% gain. Source- Tradingview The last time we covered an article on IOTA, the pair resonated in a daily-symmetrical triangle pattern. The coin gave an upside breakout from the descending trendline, hinting at an excellent…
Major coins remained under pressure in the aftermath of the release of minutes from the U.S. Federal Reserve’s July policy meeting as the global cryptocurrency market cap fell 1.3% to $1.1 trillion.Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC/USD -0.8% -3.2% $23,175.28 Ethereum ETH/USD 0.3% -2% $1,841.04 Dogecoin DOGE/USD -6.4% 6% $0.075 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Gnosis (GNO) +13.5% $197.82 Celsius (CEL) +1.9% $197.82 Ethereum (ETH) +0.3% $1,841.04 See Also: How To Get Free CryptoWhy It Matters: The apex coin was in the red at press time, while other…
Despite its potentially huge returns, institutional investors have steered clear of decentralized finance. In part, this is because DeFi is a risky business, but another big part of the equation is the lack of know-your-customer (KYC) checks required for anti-money-laundering (AML) compliance that makes it a no-go for institutional investors who do not desire and cannot afford to upset regulators. However, this is beginning to change, as a number of companies have begun offering AML/KYC solutions designed for DeFi. One of the first projects to embrace AML is Aave, a lending/borrowing protocol that is the No. 3 DeFi project, with…
Widely followed crypto trader and analyst Michaël van de Poppe is predicting that two altcoins could surge by up to 50%. Starting with decentralized oracle network Chainlink (LINK), Van de Poppe tells his 622,600 Twitter followers that the 25th-largest crypto asset by market cap could rally by nearly 50% to $12 if the $8 price level holds as support. “I’d like to see LINK sustain above $8. If that’s the case, the trend should continue upwards, and it could run towards $12.” Source: Michael van de Poppe/TwitterLINK is trading at $8.11 at the time of writing. Next up is the…
Today, there are more than 19,000 tokens available on CoinMarketCap. A lot of these tokens were performing well and were aiming for new heights, but the recent crypto crash caused drastic performance shifts. Almost every crypto coin is trading in red and has faced losses since the start of 2022. These cryptos include Ethereum (ETH), Cardano (ADA), and Litecoin (LTC). Researchers and analysts blame factors like policy changes, high inflation, and post-pandemic crisis for the current situation. Although the market is not perfect, new projects are being developed. For example, the new project Adirize DAO (ADI), is in the initial…
In a discussion that started around two Ontario crypto exchanges’ recent 30,000-Canadian-dollar limit on altcoins purchases — which excluded Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) — Ethereum co-founder Vitalik Buterin took a dig at XRP, which Ripple chief technology officer David Schwartz didn’t take very kindly.Buterin, in a response to a tweet, lauded the Ethereum community’s pushback against regulations that privilege ETH over other cryptocurrencies. David Hoffman, founder of decentralized media and education platform Bankless, responded to Buterin and said he wouldn’t have minded if they had restricted XRP.XRP already lost their right to protection when they tried to throw us under…