• A proposal has been submitted to reduce the transaction fees on Binance Smart Chain (BSC).
• The proposal seeks to make BSC more attractive than layer 2s by providing a more adaptive transaction cost distribution.
• This will help sustain the BNB economy while enhancing BSC’s position in the market.
Proposal for Lower Transaction Fees on BSC
A proposal has been submitted that aims to adopt a lower transaction fee cost on Binance Smart Chain (BSC). The proposal, submitted on March 28th, highlighted the need for a more adaptive transaction cost distribution on the BSC network with a more flexible transaction fee structure in a bid to ensure efficient block utilization and attract new users.
Benefits of Lower Fees
The proposition for the BSC validators stated that such an approach would help sustain the BNB economy while enhancing BSC’s position in the market, especially in the multichain strategy laid down in its roadmap. It further claimed that high gas fees have impeded network activity and could aggravate if left unchecked. By introducing lower fees, it would encourage users to stay within the ecosystem and remain competitive against other blockchain networks.
Rivals of Layer 2 Scaling Solutions
Layer 2 scaling solutions have revolutionized space with faster and cheaper transactions, as well as increased scalability and improved privacy and security. However, with higher gas costs now being proposed for transactions on BSC, this could create an environment where users are drawn away from using Layer 2 solutions outside of the ecosystem.
Competitiveness Against Rival Networks
In order to increase its competitiveness against rival blockchain networks, it is important that BSC remains attractive by offering lower transaction fees than those offered by other networks. This will ensure that existing and future L2 solutions remain competitive and keep existing users within their own ecosystem instead of moving away due to higher costs associated with transactions outside of it.
Conclusion
The proposed change is expected to make transactions faster and cheaper for both users and developers alike on the Binance Smart Chain network while also sustaining its position as one of the top cryptocurrency networks in terms of usability and security features.
• Metacade has successfully reached the final stage of its token presale after raising more than $500k in 24 hours, reaching a total raise of $12.4m.
• The presale is scheduled to end on the 30th March 2023 and will be listed on multiple exchanges such as Uniswap and BitMart afterwards.
• Russell Bennett, CEO of Metacade, expressed his gratitude for the support received from investors and highlighted the team’s preparation for their Q2 product launches.
Metacade Token Presale Hits Final Stage
The Metacade token presale has reached its final stage before listings, having raised over $500k in 24 hours and a total raise of $12.4m. Scheduled to end on the 30th March 2023, it will list on multiple exchanges including Uniswap & BitMart afterwards.
Support from Investors
Metacade CEO Russell Bennett expressed his gratitude for the overwhelming support received from investors, who have helped make this project one of the most exciting GameFi initiatives this year. He also highlighted that they are now gearing up for their Q2 product launches.
Final Stage of Presale
With just days until completion, the MCADE token price is set to increase to $0.020 – its last price before exchange listings which will begin shortly after the presale ends on 30th March 2023.
What Is Metacade?
Metacade is a community-driven arcade platform offering gamers a huge selection of play-to-earn (PTE) games with rewards given out through native MCADE tokens when performance benchmarks are met.
Conclusion
This is an incredibly exciting time for all involved in this project as we reach its finale before listing starts next week!
• Robert Kiyosaki, an American businessman, investor, and motivational speaker, believes the banking sector’s current crisis will intensify.
• He recommends investors to focus on buying Bitcoin (BTC), gold and silver as a response to the potential turbulence.
• Arthur Hayes also appears to be on board with this idea.
Kiyosaki’s Advice
Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller „Rich Dad, Poor Dad“ – thinks the current crisis in the banking sector will intensify. As such, he advised investors to focus on bitcoin, gold, and silver, arguing those assets could save them amid the potential turbulence. In a recent post on Twitter, Kiyosaki said central banks might print more “fake money” in response to this crisis and urged investors to purchase more bitcoin, gold and silver so they can overcome such a catastrophe.
BTC Performance After Bank Collapse
BTC has quickly regained ground after plunging significantly on the news of Silicon Valley Bank’s collapse. Despite the ongoing uncertainty in the monetary system, it crossed the $22K mark which leads many people to believe that it is about start a new bull run soon. This further supports Kiyosaki’s advice for investors to consider Bitcoin as part of their portfolios for protection against economic turmoil.
Arthur Hayes On Board
Arthur Hayes seems to be a proponent of this thesis as well; therefore supporting Kiyosaki’s statement even further. A mass printing of fiat occurred shortly after COVID-19 outbreak due to numerous central banking institutions; however despite all that Bitcoin still managed to succeed above its previous records before any intervention from government or bank took place which suggests that cryptocurrency is here for good no matter what happens in other sectors of economy or finance world wide.
Precautions Are Necessary
Although it is recommended by both Robert Kiyosaki and Arthur Hayes for investors to look into cryptocurrencies as part of their portfolio for protection against economic downturns; Investors should still take necessary precautions when investing in any asset class including cryptocurrencies and understand that there are risks associated with every asset class including crypto assets too . Therefore performing your own research beforehand is highly recommended before making any decisions regarding investments .
Conclusion
In conclusion , both Robert Kiyosaki and Arthur Hayes agree that investing in cryptocurrencies like Bitcoin , Gold & Silver are great options when it comes protecting yourself from potential economic downturns . However they also advise taking necessary precautions while investing in these asset classes too before making any investment decisions .
Despite Crypto Bear Market, Revolut’s Revenue Climbed by 33% in 2022 (Report)
Summary
Revolut’s revenue in 2022 reached $1.03 billion despite the crypto market decline last year and unfavorable macroeconomic conditions.
Mikko Salovaara – Revolut’s CFO – revealed that the number of new subscriptions and business accounts has risen.
The firm does not intend to secure any fundraisers soon, despite raising $1.7 billion since its launch in 2015.
Overview of Revolut
London-based fintech company, Revolut, allows cryptocurrency trading and saw a 33% spike in its revenue in 2022. The firm offers clients the option to buy, sell, and exchange over 90 digital currencies, including bitcoin (BTC) and ether (ETH). According to Reuters reports, the company’s revenue surged to $1.03 billion in 2022 due to increased new subscription and business accounts even with the crypto market downturn last year. CEO Nikolay Storonsky had previously stated that they were profitable in 2021 after registering a nearly $270 million loss in 2020. Accounting results for 2022 are expected to be published by June this year.
Revenue from Cryptocurrency Operations
In spite of the declining cryptocurrency market last year, Revolut’s CFO Mikko Salovaara revealed that their revenue from cryptocurrency operations accounted for 5-10% of their overall income in 2022. He also mentioned that they have built a strong momentum despite unfavorable macroeconomic conditions.
Fundraising Plans
Despite having raised $1.7 billion since their launch back in 2015, Salovaara said that there were no plans for further fundraising anytime soon.
Conclusion
Despite the bearish crypto market last year, London-based fintech company Revolut managed to post 33% growth on its revenues which reached $1.03 billion due to increased subscriptions and business accounts even amidst unfavorable macroeconomic conditions globally
• OKX, the world’s leading cryptocurrency exchange platform, has partnered with Avalanche liquid staking solution Benqi.
• The integration enables users to access the Web3 ecosystem via the OKX Wallet and provides a more convenient experience for Benqi users.
• OKX DEX optimizes user output by finding the best liquidity from 13 chains and providing free trading for users.
OKX and Benqi Partner to Boost Access to Web3 Ecosystem
OKX, the world’s leading cryptocurrency exchange platform, has joined forces with Avalanche liquid staking solution Benqi in a collaboration that sees its native decentralized application discovery tool, OKX Discover, supporting Benqi, and Benqi integrating the OKX Wallet web extension on its website and product.
Integration of OKX Wallet
The integration of the OKX Wallet, a leading self-custodial solution for digital assets, through its web extension on Benqi’s website and product will enable users to flawlessly enter the Web3 ecosystem via OKX Wallet. With the partnership, Benqi users can also access the OKX Wallet without leaving the Benqi website, providing a more convenient experience.
Access to Tokens & NFTs
Users can use the OKX Wallet to gain access to tokens, NFTs, and dApps in more than 40 chains and roll-ups. As a self-custodial wallet product, OKX Wallet users are in charge of their own private keys and crypto assets. Both firms seek to promote the non-custodial trustless nature of Avalanche and DeFi.
OKX DEX Swap Aggregator
For crypto swap products, OKX Wallet has integrated with OKX DE
• Bitcoin (BTC) prices surged from $21,500 to a six-month high of almost $25,000 in one of its most impressive daily price increases.
• Alternative coins have followed suit with notable gains, with OKB, FTM, APT and NEAR leading the way with double-digit increases.
• The surge happened shortly after US CPI numbers and it is predicted that BTC will reach $30,000 by the end of March.
Bitcoin Surges to Six-Month High
Bitcoin (BTC) registered one of its most impressive daily price increases in a while by skyrocketing from $21,500 to a six-month high of almost $25,000. This surge happened shortly after US CPI numbers were released. Mike Novogratz predicted that BTC will reach $30,000 by the end of March.
Alternative Coins Follow Suit
The alternative coins have followed suit with notable gains as well. OKB tapped a new all-time high following a massive 15% daily surge while FTM, APT and NEAR also posted double digit growths on the day.
Crypto Markets Reach New Heights
The entire cryptocurrency market added more than $100 billion in market capitalisation within just 24 hours due to this outstanding performance by Bitcoin and other altcoins – pushing the total crypto market cap above the crucial psychological level of $1 trillion for the first time ever.
Implications for Crypto Markets
This milestone could be seen as an important step forward for institutional investors who are looking for ways to incorporate digital assets into their portfolio allocations – especially given that bitcoin accounts for more than 50% of that capitalisation figure alone. It remains to be seen what impact this will have on traditional markets going forward but it’s likely that we’ll continue to see increased interest in cryptocurrencies over the coming months as this trend continues upward.
Conclusion
Overall, Bitcoin’s impressive surge should serve as an example of how much potential there is in cryptocurrency markets – both short term and long term – and provide further validation for those who believe digital currencies are here to stay.
• Ethereum has reached the major resistance level of $1.7K, but is now consolidating beneath it.
• There is a bearish divergence between the price and RSI indicator on the daily timeframe that could lead to volatility in the upcoming days.
• There are three critical static levels for Ethereum: $1.7K major resistance, $1.3K minor support, and $1K major support.
Analysis of Ethereum’s Uptrend
Ethereum has surpassed the 200-day moving average and the multi-month channel’s upper trendline due to its recent bullish move of the whole market. However, the price declined from its major resistance level of $1.7K and is now consolidating beneath it. Additionally, there is a substantial bearish divergence between the price and RSI indicator on the daily timeframe which could lead to volatility in coming days.
Static Levels For Ethereum
The static levels for Ethereum on the daily chart include: a major resistance at $1.7K; a minor support at $1.3K; and a major support at $1K – all ranging between these two points for several months now.
4 Hour Chart Analysis
On 4 hour time frame, Ethereum’s price action appears bearish as it forms an ascending Head and Shoulder pattern (also known as three drives pattern), after reaching its vital resistance region. If crypto cascades below its neckline (roughly at$ 1.5K) then this might be indicative of a reversal pattern, signaling further downtrend movements ahead in near future..
Support In Case Of Short Term Correction
In case of short term correction or rejection from $ 1 . 7 K , then next stop for Ethereum could likely be around its minor support level at $ 1 . 3 K . This would provide first level of much needed support during any sort of downside movements in near future .
Conclusion
To sum up , there is potential for further downside movements ahead with each static levels providing required supports against heavy losses on either side . It’s important to keep an eye out on technicals here , so traders can plan their entries accordingly depending upon how market moves ahead over coming days .
• Bitcoin has seen many bullish on-chain and technical signals in the last week, but has been sharply rejected at $24K resistance level.
• The price has entered a consolidation stage and is fluctuating at the $23K region with two crucial resistance levels – $24K and $25K.
• There is a battle between the bulls and bears going on to determine mid-term direction, as a breakout from either of these levels could cause sudden surge in the market.
Bitcoin Reaches Resistance Level of $24K
Bitcoin’s impulsive uptrend has been halted by the psychologically significant resistance level of $24K over the last week. This implies that there is a battle between the bulls and bears going on to decide mid-term direction. Meanwhile, the price has entered a consolidation stage, printing multiple big shadows on candle chart structure.
Bullish Signals From Price Action
The 50-day moving average has claimed the 100-day moving average at roughly $18.7K, which is a definite bullish sign for price action. Furthermore, Bitcoin has exceeded long term descending trendline; however, momentum was not strong enough to rule out fake breakout scenario.
Crucial Resistance Levels On 4 Hour Chart
On 4 hour timeframe, Bitcoin faces two crucial resistance levels; one at $24K and other at $25K. Currently, it is fluctuating in 23k region with both of these resistances posing challenge for further advance in prices. A breakout from either of these levels could result in sudden surge in market sentiments.
OnChain Signals
Apart from technical analysis there have also been multiple bullish on chain signals such as high hash rate indicating increase mining activity, open interest rising along with increasing volume etc., all suggesting that bull market may be starting again soon if these levels can be broken through convincingly by buyers’ pressure.
Conclusion
Overall it can be seen that while bulls are trying hard to carry prices higher they are facing stiff resistances around 24k region which needs to be broken convincingly for further up move in prices otherwise we may see corrective pullback towards 22k or even lower if bearish sentiment takes over completely
• Bitcoin touched a new five-month high of $24,000, with its dominance increasing to over 42.5%.
• Bitcoin initiated another leg up in the past 24 hours, after dipping below $20,500 a little over two weeks ago.
• The altcoins are slightly in the red on a daily scale.
It has been a wild ride for Bitcoin over the past few weeks, with the cryptocurrency finally reaching a five-month high of $24,000. This surge in value has also seen the BTC dominance increase to more than 42.5%.
The crypto market seemed to be stalled a little over two weeks ago, when Bitcoin dipped below $20,500. However, the asset was quick to recover the losses and went on to chart new gains in the following days. This culminated in the past 24 hours when Bitcoin initiated another leg up and touched the new five-month high of $24,000.
The altcoin market has been far from stagnant during this time, with some coins recording significant gains in the past week. However, on a daily scale, the majority of the top cryptocurrencies are showing slight losses. This has helped BTC dominance increase to more than 42.5%.
It appears that Bitcoin’s momentum is slowing down, as the asset was rejected at the five-month high and has since slipped by almost $1,000. While there is still a lot of bullish sentiment in the market, traders are wary of the possibility of a major correction.
Nevertheless, the current price action has been incredibly positive for Bitcoin, with many industry experts expecting the asset to reach a new all-time high before the end of 2021. While there is still a lot of volatility to come in the crypto markets, the current price action is painting a very bullish picture for the future of Bitcoin.
• Three men drove their vehicle into a metal barricade outside Sam Bankman-Fried’s parents‘ house in California.
• US authorities accused the 30-year-old of money laundering and fraud after the collapse of FTX.
• Lawyers of SBF claimed that the family has been subjected to „intense media scrutiny, harassment,“ and physical threats.
Sam Bankman-Fried (SBF) has been in the news a lot lately due to the crash of FTX and the US authorities accusing him of crimes such as money laundering and fraud. Now, SBF’s lawyers have reported that three men drove their vehicle into a metal barricade outside his parents‘ house in California and threatened them before leaving the scene.
The incident is not the first time the family of the former FTX CEO has been subjected to threats and harassment. According to SBF’s lawyers, they have been dealing with “intense media scrutiny, harassment, and even physical threats.” They add that the threats have increased since the crash of FTX, which caused multi-billion investor losses.
The US authorities have accused SBF of being the main culprit behind the collapse. The 30-year-old is currently facing legal action and the consequences of his actions are yet to be seen.
Despite the threats and accusations, SBF’s lawyers remain adamant that the family will not be deterred and will continue to fight for the truth. They have promised to take legal action against those responsible for the crash and to ensure that those responsible are held accountable.
The crash of FTX and the subsequent legal action against SBF have been a major source of controversy in the cryptocurrency space. It has brought to light the dangers that come with investing in cryptocurrencies and the importance of proper research and due diligence before investing.
It remains to be seen how the legal action against SBF turns out and what the long-term effects of the crash of FTX will be. However, one thing is for sure – SBF’s lawyers are not going to let the threats and harassment stop them from fighting for the truth.
