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Croat – The Little Political Cryptocurrency Coin That Could

I have been following Croat for a long time now and have been impressed by how fast the coin has moved and the quality of software that they have put out. I created a quick guide on Croat awhile back if you want to get a quick look at it. Since that guide a few more …

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I have been following Croat for a long time now and have been impressed by how fast the coin has moved and the quality of software that they have put out.

I created a quick guide on Croat awhile back if you want to get a quick look at it. Since that guide a few more cool things have happened that I thought I would highlight. 

Businesses Keep Lining Up To Accept Croat

When I first started following Croat one fo the neat things was how closely they worked with the local Catalan community businesses so that they could start accepting Croat from their customers right away.

Croat Merchants
Croat Merchants

Currently their website lists 36 companies that will accept Croat as payment. You can view them under the Ecosystem section of the Croat website.

The companies are diverse and range from Hotels, Beer and Transportation. This is pretty incredible for a coin that first surfaced for the masses in August of 2017.

While many coins out there have no real world use, this coin is taking a passionate political movement for independence and giving real world value to Catalans.

Its Now Accessible On Exchanges

When I wrote my original article there was no exchange that would allow you to trade Croat. Now there are four (3 currently with 1 on the way). The most popular at the time of writing this being Stocks.Exchange.

Croat Exchanges
Croat Exchanges

While more popular exchanges are always welcome, I was able to use Stocks.Exchange with no issue to purchase more Croat.

With only just over 100,000,000 total supply, this coin could become quite valuable when traded on higher volume exchanges.

Croat Now Has An Easy To Use Online Mobile Wallet

When Croat was released it released with some very high quality wallets for Windows, Mac, Linux and even Android. Now, as they continue to work on their iOS app, even Apple users will be able to access a mobile wallet. Check it out here at CroatWallet.com.

They Have Forked Against ASICs

As referenced before to their high quality wallets, their developers are not only passionate but very talented. While some coins (Looking at you Electroneum) simply choose to copy and paste and find and replace, Croat actively develops their codebase to keep it what it should be, a coin for the people and not for the big miners.

The coin is based on Cryptonote and now has forked to the same Cryptonote that Monero uses (Monero7 as Monero calls it).

The Future Is Still Uncertain

Now, while having a passion for what you are doing and a quality movement are no guarantee of success.

Croat is still a baby and is still a part of the larger uncertain cryptocurrency landscape.

Here are some challenges that they still have.

Spending Your Croat Is Clunky

While they do list 36 businesses that will accept your Croat, spending it far from easy. Many require you to visit the retailer or email them for more information.

A solution to this would be to work with a company such as Globee so that merchants can easily allow customers to exchange their Croat for goods or services.

Globee would also open up Croat to the entire world and allow Croat to be spent on non Catalan services and products.

Access To Better Exchanges

While having some exchanges is better than none, it will be hard to survive in its current environment. The whole point of a currency is to be able to exchange it. Whether that is for products, services or trading it against another coin, without easy ways to move Croat around the coin will struggle to catch on.

Continued Development

Little is really know about those behind development and there is no guarantee that without those that have worked so hard to get Croat where it is now, that it would continue to grow.

This can easily be solved with more exposure. The more value Croat has to others the more willing people are to donate their time to the cause.

There is nothing to say that development will slow down or cease but this time right now is a pivotal point where development and promotion need to continue, if not be ramped up.

Conclusion

When I first started following Croat there was a lot of uncertainty. While its no Monero, its grown so much since I first started paying attention to the program. I continue to look forward to more development, more exposure and more good times ahead.

Disclaimer

This is usually where you read about how I got paid to post this or was compensated in somehow. I am simply a fan and thought I would share the progress I have seen. I do own Croat but that is the whole point, right? As always, do your own due diligence before making an decisions!

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Bitcoin Exchange Outflow Continues as On-Chain Support Settles at $47K

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On-chain analytics provider, Glassnode, has revealed that there is solid support at the $47,000 level for Bitcoin. It came to this conclusion in its latest ‘Week on Chain’ report using analysis from chart guru Willy Woo and data scientist Rafael Schultze-Kraft (@n3ocortex).

It added that Woo noted a significant volume of BTC was transacted on-chain around $45,000, forming an on-chain support level late last week.

Schultze-Kraft highlighted that this support level has actually strengthened to rest above $46.6k, with 1.2 million BTC, or 6.5% of circulating supply, transacting in this zone.

Is BTC Accumulation Increasing?

Glassnode pointed out that the patterns suggest an increase in accumulation interest at these levels:

“When a large volume of coins move on-chain and an on-chain support level holds, it suggests that there is significant accumulation interest and buyers see it as a ‘value’ entry point.”

However, it also noted that should price fall below this support level, it would become a level where overhead supply may form equally strong resistance.

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Using the UTXO Realized Price Distribution metric, which shows which prices the current set of Bitcoin unspent transaction outputs were created, the on-chain support level at $47k is the largest since prices were $11k, it added.

“This range now represents one of the largest on-chain BTC accumulation levels in history, certainly the largest since the last cycle’s $20k ATH was breached.”

The balance of Bitcoin on exchanges also continues to decline which could indicate readying to sell or hodling in cold wallets. The report added that throughout February the rate of miner sales was declining, whereas today, it is almost net neutral meaning that miners could be accumulating also.

Bitcoin Price Update

At the time of press, Bitcoin was changing hands for $54,150 according to Tradingview which has reported a 24 hour gain of almost 7%.

It is the highest the asset has traded since Feb. 22 when it was falling back from the all-time high of $58,250 the previous day. Bitcoin is currently facing resistance here and needs to break above $55,900 to make a move towards a new ATH.

On the downside, support can be found in the $48,000 region however BTC is currently in the process of forming its fifth green candle in a row so the bulls are running the show at the moment.

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Source: https://cryptopotato.com/bitcoin-exchange-outflow-continues-as-on-chain-support-settles-at-47k/

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Coinbase is Valued at $100 Billion Before Direct Listing on the Nasdaq

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Coinbase has yet to go public, and the markets are already on fire in anticipation of the most awaited direct listing in the cryptocurrency world and the what will be the first major listing ever recorded on the Nasdaq.

An independent valuation based on the price of its shares in private markets determined that Coinbase has a potential valuation of between $90 billion and $100 billion before its direct listing.

During its Pre-Listing Days, Coinbase Went Up

According to activity in late February, this price would far exceed a previous valuation of $77 billion. At the time, confidential sources told Coindek that as the “big day” approached, speculators were bidding higher and higher on the stock.

“The third weekly transaction closed on Friday and the clearing price was $303 a share. The first week it was 200 bucks a share, the second week it was $301 a share, and the third week it was $303 a share. So you can kind of see price discovery happening.”

Bloomberg reported that, during the last day of private trading before the direct listing, investors traded Coinbase stocks at a range between $350 to $375, which would raise Coinbase’s valuation by as much as 33% in a matter of weeks, and over 300% higher than what analysts expected for its IPO (priced at just $28 million).

Before going public, credited investors could trade Coinbase shares on the Nasdaq Private Market, a restricted market with low volume and high volatility, where a limited number of participants can speculate on the price of some shares of companies that are not yet publicly traded.

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The numbers, however, do add up to its expected performance. After registering a bad year during the bear period of the crypto markets back in 2018, Coinbase grew to become the colossus it is today.

A Small Step for a Crypto Exchange, a Giant Leap for the Crypto Industry

Due to its characteristics, the private market is not necessarily an accurate indicator to determine what will happen when Coinbase becomes publicly available; however, it is an excellent reference to see what the markets expect to happen… And the future looks promising.

And we’re not just talking about Coinbase, but almost the entire cryptocurrency ecosystem. Coinbase going public is one of the most significant supports for the crypto industry in recent times.

The United States is one of the countries with the highest volume of exchange trading, has one of the world’s largest GDPs, concentrates a significant number of cryptocurrency startups, and yet is known for having strict laws when it comes to digital assets.

A stock exchange listing could provide an additional layer of legitimacy in the eyes of potential new users, stimulating the growth of its customer base. This would simply accelerate a trend that has been growing over time, especially in the aftermath of the COVID-19 market crisis.

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Source: https://cryptopotato.com/coinbase-valuation-100-billion-usd-before-direct-listing-nasdaq/

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Bitcoin price cracks major resistance as analyst eyes $70K ‘destiny’

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Bitcoin (BTC) tackled pivotal $52,000 resistance overnight on March 9 to come within 6% of historical all-time highs.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

BTC price hits 2-week highs

Data from Cointelegraph Markets and Tradingview showed BTC/USD hitting local highs of $54,500 on Tuesday.

The latest attempt to break out of its sideways trading corridor, the move was still consolidating at the time of writing. Amid heavy volatility, a retracement on the day targeted $53,500 — still above crucial resistance.

As Cointelegraph reported, analysts were eyeing $52,000 as a line in the sand for securing the next stage of the Bitcoin bull run.

While the weekend produced healthy upside, Bitcoin had still to cement even $50,000 as strong support as the week’s trading began.

On the back of 24-hour gains topping 8%, however, the picture on Tuesday was fast improving, after evidence showed that $47,000 had become conspicuously strong support.

“Bitcoin jumps >$54k aided by more signs of institutional interest in the largest cryptocurrency,” markets commentator and contributor to German news daily Die Welt, Holger Zschaepitz, summarized to Twitter followers.

“Institutional interest sets the latest bull run apart from 2017’s retail-driven surge, Goldman says. Much of the institutional demand has been driven by fears around asset devaluation.”

Zschaepitz was referencing findings from Goldman Sachs, which among other things also revealed that 40% of its own clients already have exposure to cryptocurrencies.

Analyst on $70,000 Bitcoin: “Destiny awaits”

The institutional picture became even more bullish on Monday after one of Norway’s richest people launched a Bitcoin-focused spin-off firm using BTC as its sole treasury asset.

“Bit­coin can be ver­i­fied, di­vid­ed, re-as­sem­bled, stored, and trans­port­ed at vir­tu­al­ly no cost. It’s the per­fect scarce digi­tal as­set. By de­sign,” Kjell Inge Røkke wrote in a widely-circulated shareholder letter.

“All that’s re­quired to keep the net­work run­ning, is al­lo­cat­ing the cheap­est elec­tric­i­ty in the world. Elec­tric­i­ty se­cures the net­work. No trust­ed par­ties or peo­ple with guns are need­ed. I call that progress.”

Elsewhere, hodlers were watching a bullish setup unfold in Bitcoin’s daily moving average convergence/ divergence (MACD) indicator, which on Monday was primed to repeat behavior which previously resulted in February’s march to $58,300 record highs.

BTC/USD 1-day candle chart (Bitstamp) with Fibonacci levels. Source: filbfilb

“Destiny awaits,” Cointelegraph Markets analyst filbfilb added in an update to Telegram channel subscribers, highlighting a target area of $70,000 and higher using Fibonacci levels.

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Source: https://cointelegraph.com/news/bitcoin-price-cracks-major-resistance-as-analyst-eyes-70k-destiny

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