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Fnality International project facing delay until 2021

The settlement of payments among the world’s biggest banks could be transformed because of the Fnality International project. But unfortunately, it would not take place until 2021. It is shocking to know that last June, Banco Santander, Barclays, Credit Suisse Group AG with the collaboration of the other 10 biggest banks declared that they had […]

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The settlement of payments among the world’s biggest banks could be transformed because of the Fnality International project. But unfortunately, it would not take place until 2021. It is shocking to know that last June, Banco Santander, Barclays, Credit Suisse Group AG with the collaboration of the other 10 biggest banks declared that they had invested 50 million pounds into a project that would make digital versions of the Canadian dollar, US dollar, Japanese yen, euro, and British pound.

The Fnality International project deal

Per the details of the deal, the digital currencies would be ready by the end of this year, but unfortunately, it would not occur until 2021. The Fnality was the sole idea of UBS Group which is situated in Switzerland. The core purpose was to bring all the competitors on the same page so they all could be on the profit side because of the project with an easier, faster and cheaper settlements.

It allows every member of the ecosystem to gain their invested money as financial institutions clear all the transactions without any illegal hurdles. Additionally, it transfers money from the buyer’s account into a seller’s account with the deduction of credit card and bank charges as per rule. The Fnality carries out all the processes in a faster way and makes it uncomplicated.

However, it had a vital role in cryptocurrency as people use digital coins instead of cash. It seems that Bitcoin has more stability in the market rather than cash. And, it generates different platforms the legacy system and blockchain. In addition to regulatory permissions, the exact details are also being resolved. Reportedly, Fnality International project head Rhomaios Ram is seeking approval to carry out operations which will be starting from 2021. It implies that it might be interesting to observe how the currency would look like when banks run it. Fnality International project is waiting for the central bank’s green light.

Source: https://www.cryptopolitan.com/fnality-international-project-delay-to-2021/

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Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

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Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

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The year has been a good one so far for altcoins. There’s no denying Bitcoin’s pedigree and influence on the market as it is still the biggest cryptocurrency by far in the crypto space. Having said that, there are a lot of altcoins or relatively smaller and cheaper cryptocurrencies which have attracted investors and newbies looking to diversify their crypto portfolios. As crypto adoption continues to grow so has the interest in it which has been evident in the last few months. Institutional interest is at an all-time high as many traditional companies, firms and institutions are boarding the cryptocurrency bandwagon.

There are a lot of altcoins putting up impressive numbers guaranteed to give back good yields and this article sheds light on four of them.

Uniswap (UNI)

Uniswap is one of the dApps based on the Ethereum blockchain. The project allows users to trade Ethereum tokens through liquidity pools. The DeFi coin boasts of being the first decentralized exchange with the option of a margin and leverage trading.

The UNI coin has two main services, thus delivering and utilizing liquidity. Although it is new in the crypto space as it was released into the market last year, its performance has made it one of the leading DeFi coins on the market.

UNIUSD
UNIUSD Chart By TradingView

Uniswap v3 was released days ago, an upgrade of its protocol and aims to provide better oracles, new fee tiers as well as give users more control over the liquidity they provide. Many analysts believe the coin is expected to blow and with its price at $36, it would be a steal compared to others.

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Cardano (ADA)

Cardano has been one of the popular coins on the crypto market for some while. Its network has a smaller footprint which makes it flexible, more adaptable, and secure. Transactions are faster as it requires less energy, and have interoperability and scalability among its pros.

ADAUSD
ADAUSD Chart By TradingView

Cardano’s recent update has equipped it with the ability to build smart contracts which have attracted a lot of dApp developers, a sector that is blowing up this year. The coin is 4th on the crypto ladder with a trading price of $2.32 which has seen a 27.35% rise within the last seven days.

Solana (Sol)

Another coin that is making a name for itself in the fast-growing DeFi ecosystem is Solana.

Launched in March 2020, the digital project has enjoyed a steady rise, making its way up the crypto ladder with impressive runs. Sol is currently at 16 on the crypto ladder with an impressive market valuation of $14 billion.

SOLUSD
SOLUSD Chart By TradingView

Its Proof-of-History algorithm has the highest speeds of a transaction and offers relatively cheaper transaction fees as compared to other coins such as Ethereum. The digital asset currently trades above $50.

Dogecoin (DOGE)

DOGE has defied many odds to become one of the fastest-growing digital coins on the crypto market presently. Created as a meme coin back in 2013, it has seen a major resurgence taking its price from $0.0076 to an all-time high of $0.7 in less than 21 days led by Elon Musk’s never-ending endorsements.

DOGEUSD
DOGEUSD Chart By TradingView

Dogecoin has seen a surge of over 8000% so far this year and remains one of the cheapest coins to buy. It is currently trading at $0.5, and despite the many controversies surrounding DOGE, it does have what it takes to yield massive progress if adopted by Tesla for payments.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/why-uniswap-cardano-solana-and-dogecoin-could-become-best-performing-cryptos-of-2021/

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DOGE Price Analysis: DOGE Breaks Out Of Bull Flag As Alt-coins Continue Rallying

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DOGE coin has been through a wild ride in 2021. Elon Musk has been the biggest influence of the price of Doge as his words have both helped and hurt the Doge. Doge had recently experienced a 50% correction but bulls quickly bought up DOGE as it bounced off its ascending channel it has followed for a month. 

Major support range for DOGE comes in at $0.44-$0.48. If the price of DOGE can hold this support, it is considered bullish for another leg up. To confirm a bullish upswing, DOGE must break and hold $0.56. Confirming a potential bullish leg, the price of DOGE recently broke out of a bullish flag and confirmed it. 

DOGE Price Analysis: DOGE/USDT 1 Day Chart

If DOGE fails to hold major support range, a fall to $0.40 is expected. Near this area lies the 30 MA which has held as support last week when Doge coin fell to $0.36. In addition, the bottom trend of its ascending channel is around the same area. This zone is a massive support for DOGE and can be relied upon if a bearish leg prints. 

The Stochastic RSI has recently corrected to oversold levels. At the time of writing, the strength has revived over the 30 level and must hold for DOGE to continue rising. The MACD has been sideways for a few days which can tell a bigger move is coming. The MACD histogram has been ticking up and is looking for a green bullish tick for the first time in a week. 

DOGE intraday levels 

  • Spot rate: $0.537
  • Trend: Neutral 
  • Volatility: High
  • Support: $0.489
  • Resistance: $0.561

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.

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Source: https://coingape.com/doge-breaks-out-of-bull-flag-as-alt-coins-continue-rallying/

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Fundstrat’s Tom Lee Increases Bitcoin Price Target to $1,25,000 Despite Elon Musk’s Turnaround

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Tom Lee, Managing Partner and the Head of Research at Fundstrat Global Advisors who is an avid Bitcoin bull has now increased his Bitcoin price target from $100,000 to $125,000 despite a recent bizarre turnaround by Elon Musk. Musk has recently closed the Bitcoin payment gateway for Tesla cars just a month after availing the service to US customers citing environmental concerns. The claims about bad environmental impact surely took many by surprise given Musk himself is a big advocate for clean energy and the Bitcoin network’s majority mining power input comes from a clean energy source.

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Lee in an interview said that Musk’s recent comment about Bitcoin could be a result of pressure from investors. He added that Musk’s recent turnaround would not have much of an impact on Bitcoin bulls and the top cryptocurrency would continue to soar higher. He also increased his price target by $25,000 to prove his point. He explained,

“I don’t think it’s going to get people negative on bitcoin, but it is going to get people to focus on the problems that are being created by digital assets. It is probably better to view it as a call to action for the bitcoin industry to focus on renewables or more efficient ways to provide proof of work.”

Lee is among the selected few early Bitcoin proponents who have always maintained that the top cryptocurrency would top $100,000 which until last year seemed more bizarre than far-fetched.

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Is the Recent Market Sell-Off Because of Musk Comments?

Bitcoin price fell nearly 15% on May 12 after Musk announced Tesla’s decision to stop accepting Bitcoin payment. Many believed the market correction was potentially triggered by Musk’s comments, however, on-chain data indicate otherwise. Bitcoin inflow on exchanges had spiked significantly right before Musk’s comments which is a bearish indicator and a sign of sell-off. Thus either people sending Bitcoin onto exchanges were aware of Tesla’s incoming decision or the sell-off was not necessarily triggered by Musk’s comment.

Musk since then has been aggressively promoting and shilling Dogecoin hinting at making necessary development changes to make the meme coin more efficient. He also claimed that he has been in touch with Dogecoin developers but the meme currency network’s developer activity is negligible over the past three years.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Source: https://coingape.com/fundstrats-tom-lee-increases-bitcoin-price-target-to-125000-despite-elon-musks-turnaround/

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