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Crypto Market Crash & Fed's December Minutes

The recent cryptocurrency crash might have been painful for a lot of investors. Approximately $200 billion was wiped out from the cryptocurrency markets. What caused the crash and what should the investors expect going forward? Until recently the federal reserves believed that the high inflation that we have been experiencing was transitory meaning that it was eventually fade away, however in their recent meeting in December, Jerome Powell, the federal reserve chairman admitted that the inflation is not transitory and we could even see inflation levels higher than expected. This has triggered the federal reserve to think about raising the rates earlier than expected, just last year in March the federal reserve pledged not to raise the rates until 2024. For individuals who do not know why the increase or decrease in rates impact the markets, let me explain. Raising rates means increased cost of borrowing, for individuals who have a housing mortgage or a credit card loan or any sort of l
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XYO: The XY Oracle Network

Imagine this, you just landed after a long and tiring flight and make your way towards baggage collection. You wait tirelessly while the other passengers find their bags and make their way to the exit. As time passes, the thought that the airline might have misplaced your baggage kicks in, not a good feeling to have right? I am sure many of you have been in this situation. What if there was a way for you and the airline to track your baggage in real time? Would save everyone the hassle of lost baggage right? XYO does just that!!! XYO's website describes XYO as a "Network of devices that anonymously collects and validates geospatial data or data with a geographic component"  XYO's application could be leveraged by multiple industries .e.g. airline industry, car rental, hospital, e-commerce etc (you can read about the use case of these industries on XYO's website: https://xyo.network/case-studies/) This all sounds great, but how does the XYO network collect and vali

Cryptocurrency crashes, China bans finance firms from servicing crypto transactions and India reconsiders crypto ban

  19th May 2021 will be remembered as a bloodbath day in the history of cryptocurrency. The global cryptocurrency market capitalization which has been a pride for the global crypto community dipped to $1.35 Trillion from $2 Trillion in matter of 17 hours.  Bitcoin broke the $40,000 barrier and reached $30,000 per coin before recovering to $38,000 during the day. Bitcoin's dominance however saw an increase of 3.86% during the bloodbath rising to 43.15% during the intraday trading sessions.  USD Tether (USDT), a stablecoin that mirrors the price of the US dollar, rose from a low of $0.9991 to a high of $1.002 during the day, implying that investors turned to USDT as a safe heaven to protect their investment by selling crypto coins and buying the USD Tether.  The crypto markets have already been hurting due to the market manipulation by Elon Musk in recent weeks and China's ban on financial institutions and payment companies from providing services related to cryptocurrency transa

Bitcoin, Dogecoin & the Elon Musk Fiasco

Bitcoin ( BTC ) and Dogecoin ( DOGE ) have both been on a roller coaster ride for the past few months and Elon Musk seems to be the one operating the roller coaster.  It all started on 29th January 2021 when Elon Musk added #bitcoin to his twitter bio. This led to bitcoin jumping by $5,000 in a matter of an hour. The next big jump for bitcoin came in February of this year when Tesla announced that it had bought $1.5 Billion worth of Bitcoin. According to the company's filing with the 'Securities & Exchange Commission', Tesla said that it bought the Bitcoin for "more flexibility to further diversify and maximize returns on our cash" Bitcoin was not the only cryptocurrency that caught the attention of the billionaire. Elon Musk on February 4th of this year, posted a couple of tweets mentioning Dogecoin, calling Dogecoin 'people's crypto' in one of them With more tweets on Dogecoin and interest shown by Elon Musk, Dogecoin rose to an all time high of

Is Telcoin The Remittance Blockchain Worth Buying?

  As per a research report published by Facts & Factors, the global 'Digital Remittance Market' was estimated at US$ 14.5 Billion in 2019 and expected to reach US$35.8 Billion by 2026. The global digital remittance market is expected to grow at a compound annual growth rate of 13.8% from 2019 to 2026. The current global average cost of remittance currently sits at 7%, using 2019's global remittance data, this would have resulted in nearly $1 Billion paid in transaction fees.  Furthermore, remitting money for some might not be a straight forward process, it can in some instances be a tedious process. For example for some remitters, the remittance process could mean visiting a money transfer service such as Western Union, filling out long forms, paying a high cost, waiting for a couple of days for the money to be received by the recipient and the recipient being charged for the withdrawal. This is where Telcoin comes in. Telcoin is a blockchain technology that focus on th

Let's Talk About Cryptocurrencies Market Capitalization and Where Most of The Money Is Being Invested?

  The cryptocurrency market capitalization has reached a staggering $2.3 Trillion as of 7th May 2021. For comparison sake, the market capitalization is up 151,219% in 7 years. This seems to be just the beginning. Lately we have been seeing a lot of movement in the cryptocurrency markets, to highlight a few, alternative coins gaining in recent weeks, Bitcoin's market dominance falling to 46.1% and Ethereum gaining traction over Bitcoin. This has got me thinking, with the drop in Bitcoin dominance are we seeing funds moving from Bitcoin to Ethereum or alternative coins? Let's find out I conducted a market capitalization study analyzing the following: Global cryptocurrency market capitalization Bitcoin Ethereum Cryptocurrencies ranked #2 - #100  The result of the analysis in the form of a chart is given below The Green arrow shows a divergence between the global market capitalization (in Yellow ) and Bitcoin (in Blue ), this indicates that versus earlier, Bitcoin is receiving les

What Is The Future of Dogecoin and Is It Worth Investing In It?

  Dogecoin, a minable cryptocurrency that started as a meme coin in 2013 is now ranked at number 5 when compared to other cryptocurrencies and has a market capitalization of $55 billion. Not much of a meme now eh? Dogecoin similar to its industry leading peer Bitcoin, is a speculative currency in nature.  This can be referenced from Dogecoin's astronomical percentage growth in the last 12 months, rising by a staggering 16452%. Wow that's crazy isn't it? David Kimberly, an analyst at U.K investing app Freetrade referred to Dogecoin's speculative bubble as 'a classic example of greater fool theory at play' .  He goes onto to say that, 'people are buying the cryptocurrency, not because they think it has any meaningful value, but because they hope others will pile in, push the price up and then they can sell off and make a quick buck'.  This means that investors who don't get out in time by selling their long positions might be left holding the bag at th