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Blockchain

ETC, SOL and THETA: Some of these alts are making a comeback

Republished by Plato

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Following yesterday’s downward spiral, most altcoins have recovered nearly completely in the past 24 hours. Ethereum Classic is now trading at $18.88, up from yesterday’s low of $17 based on price data from coinmarketcap.com. What’s interesting about the asset’s price rally is that despite the dropping trade volume, the price is rallying. This could be partially attributed to Grayscale’s ETC holdings.

These altcoins are making a comeback this alt season ETC, SOL and THETA

Grayscale ETC Holdings || Source: Bybt

Based on the above chart, Grayscale’s total holdings have increased in a phased manner. Currently, the holdings have plateaued with the price hitting the peak. Once Grayscale increases ETC holdings, the current price rally is expected to get a boost. Retail traders HODLing ETC for the past 90 days have an ROI of over 150% and this may hit 200% post increase in demand from Grayscale.

In the case of ETC, external factors have an impact on the ROI post 30, 60 or 90 days; however, when it comes to SOL, on-chain metrics are key indicators.

SOL’s price has been up over 12% in the past 24 hours; the asset’s trade volume is rising, just as the case with ETC. SOL has scaled up consistently since the beginning of 2021 due to faster processing speeds and lower fees when compared to other alternatives. What SOL has got over Ethereum is that POH (proof of histroy) is faster and cheaper when compared to POW (proof of work).

Until Ethereum’s network fees drop and remain consistently low, projects like SOL have a higher chance of capturing market share and rallying on top spot exchanges. Besides, partnerships play a key role as well, and recently FTX’s new derivatives exchange Serum has adopted SOL. This may have given the altcoin much-needed boost and the price has hit a new ATH hours ago. It may kick into price discovery mode if trade volume continues increasing.

These altcoins are making a comeback this alt season ETC, SOL and THETA

SOL’s price chart || Source: Coinmarketcap.com

Based on the above price chart and on-chain metrics, SOL may follow in the footsteps and the narrative of ETH. This is also popular opinion on social media and Crypto Twitter.

Just as ETC and SOL are rallying forward, the momentum is carrying THETA’s price forward. The price was up nearly 8% yesterday, after the bloodbath. And after the following recovery, it is currently at the same level as it was for the last two weeks.

The trade volume has dropped over 40%, and this has not had an impact on THETA’s price. THETA’s price largely relies on the demand across spot exchanges. The price is currently over 15% away from its ATH, which was hit in the last week of March 2021. Once the trade volume increases, it is expected that the price will rally alongside alts like ETC and SOL.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/etc-sol-and-theta-some-of-these-alts-are-making-a-comeback

Blockchain

Chinese officials warn about risks associated with crypto trading.

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Chinese officials warned the public about the risks associated with trading cryptocurrencies. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies. According to the China Financial Stability Report, investors should be extra vigilant when operating with bitcoin and other cryptocurrencies. Officials from China Securities Journal have called for better regulation and pointed out major risks involving crypto trading.

“Cryptocurrencies lack supervision and legal protection.”

Cryptocurrencies are highly decentralized, which means they lack supervision and legal protection. According to the journal, this is a huge disadvantage and can cause price manipulation and false transactions. Another concern that Chinese officials expressed is that the price of most cryptocurrencies, including bitcoin, can easily become an instrument for speculation and can go through sharp declines.’ The report also noted that the movement of funds on blockchain technology is difficult to be observed. This can create an excellent environment for money laundering. Additionally, illegal and criminal activities can also thrive with these conditions as lawbreakers have the opportunity to make drugs or gun transactions using cryptocurrencies. 

“There are no legal crypto trading venues in the country and no regulatory protections.”

The Chinese authorities advised that the crypto community must stay alert to prevent these hazards due to these factors. Furthermore, China Securities Journal reminded that there are no legal crypto trading venues in the country and no regulatory protections.” Once you encounter risks, you can only bear the consequences. In short, speculation in coins is risky, and you need to be cautious when entering the market,” the report noted. However, despite the Chinese government’s stance, the leading cryptocurrency bitcoin is highly popular in China – there’s a high number of miners situated in the large Asian nation.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://chaintimes.com/chinese-officials-warn-about-risks-associated-with-crypto-trading/

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Blockchain

China Securities Journal Says Cryptocurrency Trading Is Risky and Calls for Strict Supervision

Republished by Plato

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Chinese officials warned the public about the risks associated with trading with digital assets. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies.

Tighter Regulations on Crypto Trading

According to the China Financial Stability Report, investors should be extra vigilant when operating with bitcoin and other crypto assets. Officials from China Securities Journal have called for better regulation and pointed out three major risks that trading with digital assets may carry.

First, digital assets are highly decentralized, which means they lack supervision and legal protection. According to the journal, this is a huge disadvantage and can cause price manipulation and false transactions.

Second, the price of most cryptocurrencies, including bitcoin, can easily become an instrument for speculation and can go through sharp declines.’

Third, the movement of funds on blockchain technology is difficult to be observed. This can create an excellent environment for money laundering. Additionally, illegal and criminal activities can also thrive with these conditions as lawbreakers have the opportunity to make drugs or gun transactions using cryptocurrencies.


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The Chinese authorities advised that due to these factors, the crypto community must stay alert to prevent these hazards. Furthermore, China Securities Journal reminded that there are no legal crypto trading venues in the country and no regulatory protections:

”Once you encounter risks, you can only bear the consequences. In short, speculation in coins is risky, and you need to be cautious when entering the market.”

China and BTC

Despite the government’s stance, the primary cryptocurrency is highly popular in China – there’s a high number of miners situated in the large Asian nation.

Recently, the country’s central bank announced that it was looking into bitcoin as an alternative investment. Zhou Xiaochuan, former governor of PBoC, outlined the potential of digital assets and their future implementation. However, he ascertained that whatever the case may be, cryptocurrencies must not be used for illicit activities such as drug or weapon trafficking, gambling, or money laundering:

”We believe that crypto assets should play a major role in the future, either as an investment tool or as an alternative investment. Many countries, including China, are also studying it as an investment tool.”

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/china-securities-journal-says-cryptocurrency-trading-is-risky-and-calls-for-strict-supervision/

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Blockchain

Vitalik Buterin Burns 41% Supply of “Dog Token” Shiba Inu

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptobriefing.com/vitalik-buterin-burns-41-supply-dog-token-shiba-inu/

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