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Inflation Rising Crypto Market In Extreme Fear

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Inflation Rising Crypto Market In Extreme Fear

The crypto market has already entered a gloomy phase. From its all-time high (ATH) of $3 trillion, it has lost more than half of its volume. At the time of writing, the market capitalization was $1.25 trillion. Not only crypto world facing the winter season the traditional market also dipping into the bloodbath. 

Winter On Crypto market 

Since the end of March, Bitcoin (BTC) has been falling, it was closer to $50,000 at the time, but it collapsed and quickly lost value. The cryptocurrency quickly sank below $30,000 and its situation worsened in the following days. In 24 hours BTC fell to below $29,000.

Ethereum is the second-largest cryptocurrency and has lost over 59% of its ATH. Currently it is trading at $1,972.75 USD With a trading volume of $12,994,534,724 USD. Ethereum is down 3.24 % in the last 24 hours; its total market cap is $238,438,047,970 USD.

Terra (LUNA) was formerly one of the top ten most valuable cryptocurrencies on the market, with a peak of $119.5 as its all-time high. However, by May 11, the asset had lost nearly all of its value, dropping from $75 to $0.000005 in just five days. It surged by more than 1000% on May 14 after experiencing unexpectedly large volatility and now trades at $0.0001093.

Also, the most popular meme coins have lost more than 85% of their ATH value because of the recent market crash. Dogecoin, the most popular meme currency, has dropped by over 88% from its ATH. Shiba Inu has also lost about 86% of its ATH and shows no signs of improvement.

The popular Fear and Greed Index has reverted to an adverse high-risk zone. This is the lowest the index has been since late January. The Fear & Greed Index has fallen to “Extreme Fear.” The Index fell from 100 points to 13 points.

Investors worried about the impact of rising inflation on earnings and the impact of interest rate hikes on economic growth. For the first time since the 2020 Wall Street crash caused by the coronavirus pandemic, a close of 20% or more below that level will certify the S&P 500 is in a bear market. The Nasdaq, which is dominated by technology, is already in a bear market, down 30.7% from its all-time high in November 2021.

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LBank Exchange Will List Global Trading Xenocurrency (GTX) on June 27, 2022

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LBank Exchange Will List Global Trading Xenocurrency (GTX) on June 27, 2022

LBank Exchange, a global digital asset trading platform, will list Global Trading Xenocurrency (GTX) on June 27, 2022. For all users of LBank Exchange, the GTX/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on June 27, 2022.

As a global company that aims to acquire and merge companies that have future value, Global Trading Xenocurrency (GTX) takes a strong position in global competition by combining products from mergers and acquisitions, while providing services such as right of business, indicators system, and more. Its native token GTX will be listed on LBank Exchange at 16:00 (UTC+8) on June 27, 2022, to further expand its global reach and help it achieve its vision.

Introducing Global Trading Xenocurrency

Founded in 2019, Global Trading Xenocurrency (GTX) has been developed as a company that collaborates with numerous companies not only in Korea but also around the world and serves as a bridge between operators and members.

GTX helps new businesses to make their business easier and more accurate by managing the necessary funds and new customers thoroughly through the central system, and creates a smoother and more ideal market for consumers to access various items.

Instead of creating a startup company and operating it, the GTX token will expand the ecosystem through mergers and acquisitions of potential companies. This is because creating synergy through a mixture of products from companies with potential is a shortcut to success while reducing the company’s risk. Beyond national boundaries, it will acquire and merge companies that have potential to match each country’s culture and policies worldwide.

Furthermore, through the membership system, GTX provides various benefits and supports to all members of the company, including mobile phones, Internet + IPTV, rental shopping malls, beauty diet shops, I-bot that is system for people to trade with signature of all the coin price trend, and it strives to create a smooth communication and comfortable environment between all operators and customers.

There’s also a right of business and indicators system in GTX. The indicator system is the system that allows consumers to benefit from purchasing a product, whether the price of the coin goes up or down, by setting the price of the coin paid for the product. With indicator system, the disadvantages of coins with severe fluctuations are solved.

After buying a single business license by an indicator value, members can use it at a discounted price when members purchase goods or use services for a lifetime, and members can earn revenue from their sales activities with the right of business. In addition, GTX will continue to expand its business rights, which will continue to benefit existing members and new members.

About GTX Token

GTX aims to be deeply linked to real life. It emphasizes that all of those expanded business can be reflected in coins and increased asset value, thereby increasing economic independence and wealth in the long run.

Based on TRC-20, GTX has a total supply of 10 billion (i.e. 10,000,000,000) tokens, and GTX returned by the indicator system will be burned quarterly until its total supply remains 5 billion.

The GTX token will be listed on LBank Exchange at 16:00 (UTC+8) on June 27, 2022, investors who are interested in Global Trading Xenocurrency investment can easily buy and sell GTX on LBank Exchange by then. The listing of GTX token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.

Learn More about GTX Token:

About LBank Exchange

LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 7 million users from now more than 210 regions around the world.

Start Trading Now: lbank.info

LBK Blockchain Co. Limited

LBank Exchange

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

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Choise.com Token (CHO) Is Now Available for Trading on LBank Exchange

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Choise.com Token (CHO) Is Now Available for Trading on LBank Exchange

LBank Exchange, a global digital asset trading platform, has listed Choise.com Token (CHO) on June 24, 2022. For all users of LBank Exchange, the CHO/USDT trading pair is officially available for trading.

As the world’s first MetaFi ecosystem that simplifies the use of DeFi products, Choise.com makes the process easy, reliable, and fool-proof through its in-house DeFi ecosystem called Charism. Its earn products aim to reduce commissions by up to 50 times and unlock cross-chain high yield for over 100 million CeFi crypto users. Its native token Choise.com Token (CHO) has been listed on LBank Exchange at 20:00 (UTC+8) on June 24, 2022, to further expand its global reach and help it achieve its vision.

Introducing Choise.com

Choise.com is an innovative crypto solution that combines all the advantages of CeFi and DeFi (centralized and decentralized finance) services into one system. This bridge between CeFi and DeFi user bases will greatly simplify user exposure to DeFi products, making the process easy, reliable, and fool-proof. At the heart of Choise.com is a new, in-house DeFi platform Charism, a suite of products including non-custodial wallet, cross-chain bridges, NFTs, transaction builder, and other solutions.

Such integration will allow anyone — even a crypto novice — to take advantage of farming, decentralized exchanges, liquidity pools, and other features at the push of a button. Charismwill make it possible to implement previously unavailable solutions, all without requiring users to switch blockchains or install endless amounts of applications. Everything is available in a single customizable app interface.

For CeFi users, Choise.com provides hassle-free access to DeFi assets, high yield DeFi instruments at a click of a button, and easy access to the coin that they never met at CEX. It enables CeFi users to make seamless transition between CeFi and DeFi wallets, and save up to 50x on transaction cost. And for DeFi users, Choise.com provides DeFi full aggregator, the single entrance point for a variety of DeFi protocols and blockchain networks, easy onramp and offramp by deep integration with CeFi fiat services, and Charism bridges that enable simple cross-chain interactions.

Started by the Crypterium team which consists of 160+ professionals with a successful track record of CeFi products, Choise.com continues to be a one-click gateway to DeFi space for CeFi users, which provides triple digits APYs with zero hassle. In the meantime, Choise.com DAO will be set up to manage the ecosystem with CHO token powering up utility, governance, and promotion mechanics.

About CHO Token

Choise.com Token (CHO) is the native token of Choise.com that can be used in loyalty programs, compensation, DAO voting, B2B integrations, and other cases such as using as a gas in DeFi services, building part of commissions from DeFi services, and promotions.

Based on ERC-20, CHO has a total supply of 1 billion (i.e. 1,000,000,000) tokens, of which 7% is provided for seed, 4% is provided for private sale, 0.25% is provided for strategic round, 0.3% is provided for community pre-sale, 0.35% is provided for community sale, 0.325% is provided for IDO, 8% is allocated to the team, 2% is allocated to the core contributors, 23.847% is provided for cornerstone, 10% is distributed for CRPT airdrop, 43.775% will be used for promotion, and the rest 0.153% is provided for the last call round.

The CHO token has been listed on LBank Exchange at 20:00 (UTC+8) on June 24, 2022, investors who are interested in Choise.com investment can easily buy and sell CHO on LBank Exchange now. The listing of CHO tokens on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.

earn More about CHO Token:

About LBank Exchange

LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 7 million users from now more than 210 regions around the world.

Start Trading Now: lbank.info

LBK Blockchain Co. Limited

LBank Exchange

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

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Bitcoin

On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up.

Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative

As pointed out by an analyst in a CryptoQuant post, the selling pressure from US investors seems to have reduced in recent days.

The “Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair).

The quant notes that US investors are known to use the Coinbase platform, especially high-net entities and institutions.

When the value of this metric is positive, it means the price on Coinbase is higher at the moment. Such a trend suggests there has been buying from US investors recently.

Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

On the other hand, a negative premium gap implies there has been some selling on the crypto exchange as the price is lesser than on Binance.

Now, here is a chart that shows the trend in the Bitcoin Coinbase premium gap over the year 2022 so far:

The value of the metric looks to be negative right now | Source: CryptoQuant

As you can see in the above graph, the Bitcoin Coinbase premium gap has been negative in the last couple of months.

During the LUNA crash, it reached a highly red value of $131, which means there was some heavy selling from US investors then.

During the consolidation period that followed, as well as during the latest crash, the value of the indicator moved sideways around a negative $20.

Related Reading | Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison

Over the last few days, however, the trend seems to have changed and the premium gap is now observing some upwards movement.

While the indicator still has a negative value, it’s quite close to zero now as the gap between Coinbase and Binance stands at just -$5.

This shows that the selling pressure from US investors has been dying down recently, a sign that could prove to be bullish for the price of Bitcoin.

BTC Price

At the time of writing, Bitcoin’s price floats around $21.2k, up 11% in the last seven days. Over the past month, the crypto has lost 28% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the value of the crypto has been going up over the last few days | Source: BTCUSD on TradingView

Since the low below $18k, Bitcoin has been trying to gradually make some recovery. However, the crypto is currently finding it difficult to leave the $21k level.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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