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7 Altcoins That Make You a Billionaire in 2022

7 Altcoins That Make You a Billionaire in 2022

The ever-increasing hype for the world of cryptocurrency suggests the top five cheapest altcoins that will make you a billionaire. Although these cryptocurrencies may never reach the same heights as Bitcoin, they are still some of the best cryptos with potential. Now, let’s look into the cheapest altcoins that will make you rich by 2022. …

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The ever-increasing hype for the world of cryptocurrency suggests the top five cheapest altcoins that will make you a billionaire. Although these cryptocurrencies may never reach the same heights as Bitcoin, they are still some of the best cryptos with potential.

Now, let’s look into the cheapest altcoins that will make you rich by 2022.

Fox Finance (FOX)

FOX is a Binance Smart Chain auto-staking token that rewards its holders. With a rolling four-year lock, 6% of each transaction is allocated to liquidity, and the remaining 6% is allocated to each stakeholder. Through the advocacy platform FOXES IN ACTION, the platform hopes to create an ecosystem and community of awareness focused on wildlife conservation.

FOX is decentralized, which means the market manipulation is impossible, and investors can control their currency and the funds are simply safe. Besides, FOX is listed on Binance, which provides zero-gas fee and swaps are instantaneous. 

Currently, FOX is trading for $0.00000001 with the trading volume of $75,319.74 in the last 24 hours. According to CoinMarketCap, Fox Finance has fallen to 20.46% in a day. So, if the investors are magnificent in investing then they would choose Fox Finance (FOX). As the price of FOX has dropped, there is a good chance of regaining it. If users invest  $10 in FOX today, then it might gain profit. Because, when the price of FOX raises to $0.5 or $1 this year, then it would be a huge gain. So, if you feel FOX is a good investment this year then there are many possibilities that you would become a billionaire in 2022.

Bafe (BAFE)

Bafe is a community driven & fair launch DeFi token. Dev burned all team tokens. It has Static Rewards, LP Acquisition, Automatically Burn. The subjectivity of the impermanent loss from staking an LP (liquidity provider) in a farming reward generator is a common misconception with the heavy APY average.

Automatic LP is $BAFE’s secret sauce. The platform has a function that serves as a two-way beneficial implementation for holders. Moreover, every trade on Automatic LP contributes to the automatic generation of liquidity held within PancakeSwap LP. RFI Static Rewards holders earn passive rewards via static reflection while watching their Bafe.io balance growing indefinitely. Safety A step-by-step plan to ensure complete safety.

According to CoinMarketcap, the current price of BAFE is beyond $0.00000001 with 24-hour trading volume of $46,637.65. Besides, BAFE is down 32.76% in the last 24 hours. As the price of BAFE is at its low, investors can invest a small amount in BAFE. When the price even rises slightly, it might result in huge profit. Moreover, BAFE has all the possibilities to rise this year. So, if the investors think that BAFE is a good investment, then there is a high chance of smelling massive profit in 2022.

Carillionium Finance (CAROM)

Carillonium Finance (CAROM) is a community-driven token on the Binance smart chain that aims to be more deflationary. Carillonium levies a 7% transaction tax, with 5% going to liquidity and the remaining 2% going to CAROM holders. Carom stakers can also receive BUSD as a reward from Carillonium.

Additionally, its wallet is known as Carillonium Finance wallet. It is a digital application, in which you can store/hold your Carillonium finance without hesitation because it is very safe. Technically, it’s similar to a bank. After the currency is credited in the bank, the application displays the amount you have credited to the account.

The current trading price of CAROM is less than $0.000000000004 with24-hour trading volume of $821.53, according to CoinGecko. Besides, Carillonium finance is down 15.18% in the last 24 hours. If investors consider this token as a good investment then there is a chance that the trend may reverse and result in profit. The token has a high probability of reaching a new ATH this year. So, if investors are confident that this token will generate a profit, they may have a chance to become a billionaire by 2022.

FREE Coin (FREE)

The FREE Coin (FREE) is the perfect coin for starters in crypto. The FREE Coin includes a low introductory price so real growth potential, a friendly community to support traders, and a wide range of Exchanges and wallets.

As of the time of writing the FREE Coin (FREE) price analysis, FREE trades at $0.000002 with a 24-hour trading volume of $540,067. The price of FREE has increased by 17.62% in the last 24 hours.

If you are the starter then a FREE Coin is the perfect coin to learn about trading with very low financial risk. Also for experienced crypto users, it provides a nice variety of your current crypto wallet. The FREE Coin was launched by a small group of volunteers based in Europe and Asia in April 2018. Currently, FREE Coins can be traded in CoinTiger, BitForex, Gate.io, HitBTC, and Uniswap (V3).

SHIB INU (SHIB)

Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020. SHIB is a new cryptocurrency that has already taken over some Dogecoin markets. The 50% of its token supply is locked on Uniswap and the other 50% was burned to Vitalik Buterin. He burned 90% of his SHIB coin, burning tokens increases scarcity and as a result, the price is likely to go up. You can purchase Ethereum (ETH) and convert it into SHIB.

As of the time of writing this Shiba Inu (SHIB) price analysis,  SHIB trades at $0.000006 with a 24-hour trading volume of $725,565,155. The price of SHIB has increased by 7.79% in the last 24 hours.

SHIB is the “DOGECOIN KILLER ” and it will be listed on their own decentralized exchange ShibSwap. Current SHIBA INU is trading on Binance, Huobi Global, OKEx, FTX, and Hotcoin Global.

SafeMoon (SAFEMOON)

SafeMoon (SAFEMOON) is one of the latest cryptocurrencies, which hit the market in 2021. SafeMoon is a community-driven approach to decentralized financial systems. SafeMoon has three functions that take place during each trade: reflection, LP acquisition, and burn.

As of the time of writing this SafeMoon (SAFEMOON) price analysis, SAFEMOON trades at $0.000003 with a 24-hour trading volume of $8,224,526. The price of SAFEMOON has increased by 7.99% in the last 24 hours.

SafeMoon plans to build a Non-fungible token (NFT) exchange. The creator of SafeMoon says they want to fix some of the problems like price volatility which are common in other cryptocurrencies.

If the traders sell SafeMoon, they must pay a 10% fee. So the people are encouraged to stick with SafeMoon rather than feeling pressured to sell. The developers of SafeMoon manually burn tokens regularly. SafeMoon can be purchased on PancakeSwap and Bitmart. 

Zeppelin DAO (ZEP)

Zeppelin DAO (ZEP) is a next-generation auto yield community token. The token develops the backbone of the Zeppelin Ecosystem which grows to include extensive Community Governance and an IDO platform. Liquidity is auto-locked during launch.  

As of the time of writing this Zeppelin DAO (ZEP) price analysis, ZEP trades at $0.00000001 with a 24-hour trading volume of $62,028. The price of ZEP has increased by 12.20% in the last 24 hours.

ZEP has been listed on several crypto exchanges. Moreover, like other main cryptos, ZEP cannot be directly purchased with traditional money. We can easily buy ZEP coin by first buying Bitcoin from any popular exchanges and transfer to the exchange in which ZEP can trade. Currently, ZEP is trading on PanCakeSwap. If the investors think that ZEP is a good investment, then there will high chance to become a billionaire

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice.

Source: https://thenewscrypto.com/7-altcoins-that-make-you-a-billionaire-in-2022/

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“Bad For Bitcoin”: Congressman Warren Davidson Blasts Last-Minute Crypto Tax Insertion In Infrastructure Bill

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Biden's Tax Plan Could be Bullish for Ethereum but Bearish for Bitcoin

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As the U.S. Senate plans to hold a popular vote on the proposed infrastructure bill under which a last-minute cryptocurrency tax law was introduced, some believe that the whole bill is ill-fitted due to its vagueness and could prove colossal to the industry and by large, the U.S. economy.

Privacy Concerns

The law, which seeks to subject players in the crypto space to the same regulatory rules placed on various securities such as stocks has disgruntled some industry players as well as legislators who feel that its language is detrimental to the crypto industry. In essence, the government aims at individuals and institutions not only reporting on gains and losses but also any activity associated with crypto, such as the sale of mining equipment.

Congressman Warren Davidson who coined the cryptocurrency language in the proposed infrastructure bill as “the big bank protection act” particularly believes that if passed, it could spell adverse problems on a big chunk of crypto-related activities that might not even need to be taxed. 

The congressman who is an ardent supporter of bitcoin speaking to Bitcoin magazine added that he was not a fan of governments spying on virtually all individual activities with one’s money, especially using the 16th amendment.

“The government just seeks to know too much about you. It really is not the government’s business as to whether you got paid or you ended up paying somebody, did you buy or sell something, gain or lose money – this extends that logic way beyond just collecting taxes, it collects all kinds of information.”  

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Sloppy Language

Davidson further criticized the language in the 16th amendment now inserted to serve in taxing crypto-related activities, terming it as sloppy, dangerous, and must have been advanced by people who were ignorant about the cryptocurrency industry or by people intending to only destroy it.

“Either this language was skilfully crafted to completely new crypto in America or it was willfully ignorant, I mean you would have to work hard to be that ignorant about how much collateral damage this kind of sloppy language would cause ” he added.

He called on Bitcoiners to raise their voices to their senators on the colossal harm the proposed bill could cause to them, and for the country as it threatened not only financial stability but also innovation.

Jerry Brito, the executive director of Coincentre had also raised alarm over the proposed infrastructure bill seeing that it has a provision that could be very bad for crypto, forcing non-custodial actors including miners to comply with IRS tax reporting obligations. He echoed Davidson’s concerns over the broadness in wording which potentially covers miners and DEXs. 

He was however relieved at the fact that arguably miners and DEXs did not have “customers” as defined in the tax code. He posited that despite the last-minute addition to a must-pass bill, he and other stakeholders were working around the clock to make sure that the bill was not passed in its current form ahead of Wednesday’s vote.

Portman spokesperson however sought to clarify the language on crypto in the infrastructure bill stating that the language did not redefine digital assets or cryptocurrency as security for tax purposes.

“It simply clarifies that any person or entity acting as a broker by facilitating trades for clients and receiving cash must comply with a standard information reporting obligation.” he said.

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Source: https://zycrypto.com/bad-for-bitcoin-congressman-warren-davidson-blasts-last-minute-crypto-tax-insertion-in-infrastructure-bill/

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Ethereum: Are you wrong to expect ‘changes’ from London

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Ethereum is days away from one of the most important system upgrades since its inception. The London hard fork, the implementation of EIP-1559, is expected to completely change the monetary and economic model of Ether and its network.

These changes are expected to take place after the commencement of the hard fork on 4 August. However, there have been other changes too, each of which has transpired over time for the altcoin.

The issue of transaction fees

One of the most discussed changes expected out of EIP-1559 is that ETH’s transaction fees will become relatively stable. Any entity wanting to conduct a transaction on the Ethereum network is required to pay a “gas fee.” The same is to be paid in Ether, to miners, to process these transactions. During the 2020-2021 bull run, these fees skyrocketed.

Source: Ycharts

In fact, according to the attached chart, the transaction fee was as high as $71 at one point. However, that aspect might end up being tackled before the hard fork itself.

Over the past few weeks, the gas fees for ETH transactions have drastically dropped on the charts. Now, many have suggested that this was due to the bearish market.

Source: Spencer Noon

However, a contradictory argument is that DeFi applications are still rampant. UNI and AAVE registered strong on-chain performances over the past few weeks, and major functionality within these assets rely on the utility of Ether. For both June and July, the Ethereum network’s fees were already under the yearly average. Such a healthy fee market allows for a stronger security budget for Ethereum.

Investment and trading are not the only ways to profit from Ethereum anymore

ETH held on Exchanges

Source: Glassnode

A common bullish argument for Ethereum in 2020-2021 was the fact that it registered massive exchange outflows. Here, the inference was that hodlers were taking the asset out of centralized platforms and simply holding their allocation. It might have been true in late 2019 and early 2020, but right now, the playing field has evolved.

According to data, exchange outflows have definitely increased but the key point remains that more and more Ethereum is flowing into smart contracts. Further, ETH users are pursuing other opportunities to earn interest and yields.

The rise of yield farming and interest lending platforms has opened new avenues for ETH users. The reason being that they are able to earn capital without depending too much on a bullish or bearish cycle.

Changes are coming but, “change” is already here

The industry is evolving at a break-neck speed and Ethereum is gunning towards its massive upgrade. And yet, users should not be expecting ground-breaking changes. In fact, those who are might as well be ‘wrong’ to some extent.

Over the past few weeks, Ethereum has already been incorporating changes that may define its functionality and usage going forward.

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Source: https://ambcrypto.com/ethereum-are-you-wrong-to-expect-changes-from-london

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Bitcoin Cash, Cosmos, VeChain Price Analysis: 01 August

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With Bitcoin soaring up to $42,000 today, other altcoins pumped too. BCH was preparing to test its immediate resistance, ATOM hiked by 8% overnight, and VET flashed signs of an uptrend. 

Bitcoin Cash

Bitcoin Cash, Cosmos and VeChain Price Analysis: August 1

BCH/USD, TradingView

Bitcoin Cash was trading at $554 on the back of a 2.1% gain over the last 24 hours. From the 4-hour chart, BCH depicted an upward movement towards its immediate resistance of $566. On failing to test the same, the prices could land near the $544 mark and then subsequently rest on $528. 

The Relative Strength Index despite noting a slight fall in buying pressure stayed well within the bullish territory. The green signal bars on the Awesome Oscillator depicted the presence of the bulls in the market.

Conversely, however, the MACD flashed red bars on the histogram at press time after a bearish crossover yesterday, although it was declining in size marking a reversal of the bearish sentiment on the indicator. 

Cosmos (ATOM)

Bitcoin Cash, Cosmos and VeChain Price Analysis: August 1

ATOM/USD, TradingView

ATOM displayed a considerable hike of almost 8% within a day. It alt was priced at $12.88 at press time. If it continued moving on the upside, the token might cross the immediate price ceiling of $12.96. 

If ATOM reaches the $12.96 mark over the upcoming trading sessions, it could expect strong resistance at $13.60. If the coin dips below its current price level, the support region lies at $12.00 and then eventually at $11.53. 

Overall technical outlook of ATOM remained quite bullish with the Relative Strength Index spotted above 60 despite a minor fall. Awesome Oscillator showed amplified green signals bars validating the same. 

Bollinger Bands widened suggesting chances of market volatility as prices kept touching the upper band. 

VeChain (VET)

Bitcoin Cash, Cosmos and VeChain Price Analysis: August 1

VET/USD, TradingView

VET had seen a period of consolidation a few days back, however, it rebounded from that and registered steady gains over the last few days. VET’s price at press time stood at $0.0913 as it recorded a 5.2% gain overnight. 

The technical analysis chart showed that VET witnessed a bullish trade, with the Relative Strength Index touching the overbought zone just 24 hours ago. At press time, however, the indicator fell below the overbought territory.

Chaikin Money Flow, over the last few days, registered increased capital inflows and was pictured in the bullish zone despite the minor fall in capital inflows at press time. 

Bollinger Bands opened up in anticipation of increased market volatility. With prices touching the upper band, the bulls might push the prices higher. The immediate resistance for VET lay at $0.93, failing to test that, the support region awaited at $0.0870 and then at $0.801.

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Source: https://ambcrypto.com/bitcoin-cash-cosmos-vechain-price-analysis-1-august

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