Crypto investors had been moving out of altcoins through the market downtrend due to the high volatility that rocked these digital assets. As a result, the fall in these altcoins was more brutal than that recorded in bitcoin. However, as the tide has begun to turn and the market is looking towards more of a bullish trend, these altcoins have taken their place at the top of the recovering chain, prompting investors to rush back into them.
Altcoins Provide More Gains
Over time, it has been shown that altcoins record the widest movements during any type of market. So just as they have a high propensity to bring large losses, they also carry the same trait when it comes time to make a profit. The same is the case this time around,Al as investors have clamored to altcoins to take advantage of the gains.
Barely two weeks into the month of August, altcoins have quickly taken the lead when it comes to gains. The Small Cap Index, which had suffered massively during the downtrend, is finally having its day in the sun. It saw the largest gains in the last 10 days, coming out at 9% for this period of time.
The Mid Cap Index follows the Small Cap Index in this regard. Although it did not see as many gains as its smaller counterpart, it saw 7% gains for the time period. It also spread to the Large Cap Index, which saw 5% gains in the same time period.
Small Cap Index sees largest gains | Source: Arcane Research
These gains show that investors are beginning to recover their faith in the market once more. Exposure to altcoins is growing rapidly, leading to a surge in prices across these indexes.
Bitcoin Follows Positive Trend
Altcoins were not the only ones that saw positive growth in the first week of August. The positive sentiment through the market has been widespread and has affected various digital assets, albeit to different degrees.
Bitcoin has seen lesser gains compared to its altcoin competitors, but it saw gains nonetheless. It came out as the index with the lowest returns so far, with only 2%. Despite this growth, the digital asset is still severely underperforming compared to altcoins. It is notable in the market dominance of the digital asset, which has fallen about 7% in the last two months alone.
Market cap rests above $1.1 trillion | Source: Crypto Total Market Cap on TradingView.com
What this shows is that investors are now moving out from the safe haven that bitcoin provided during the market crash and are now focusing on altcoins. This has also spread to stablecoins that have also seen their market dominance eaten into by altcoins.
In the last week alone, ETH dominance grew 0.89%, while Bitcoin and the leading stablecoins all lost between 0.12% to 0.96% dominance. This new hunger for risk can either be primarily rewarded, or investors may find themselves burned if the market were to retrace.
Featured image from Binance, charts from Arcane Research and TradingView.com
Is Dr. Ruja Ignatova the cryptocurrency world’s biggest scammer? The competition is fierce, there are so many faces and stories fighting for that spot, but none of them is on the FBI Most Wanted List. Dr. Ruja is. Great, but, why is NewsBTC revisiting the 2019 true crime podcast “The Missing Cryptoqueen”? Because Jamie Bartlett, the journalist behind the project, just released a new episode.
Episode 10 of The Missing Cryptoqueen is now out.
The hunt it back on: Israel, Dubai, Luxembourg, The Eurovision Song Contest & Krispy Kremes.
Is there new information? Did they FIND Dr. Ruja Ignatova? The only thing we know for sure is that there’ll be a few new episodes, and that’s all we needed to hear. A BBC production, “The Missing Cryptoqueen” features various music and sound design, witness testimonies, interviews, and sound bites. There’s even original music in this podcast extravaganza.
NewsBTC will produce companion pieces for each of “The Missing Cryptoqueen.” With summaries, quotes from the episode, and extra material from all over the web, this is the feature people didn’t know they needed. Have this window open as you listen to each episode, it’ll enhance the already phenomenal experience.
You can download episodes directly at the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.
About Episode One – Dr. Ruja
This is the introductory episode, it presents Dr. Ruja Ignatova and the OneCoin world. We feel the size of the scam, we hear the people that fell for it and the true believers. It begins with Bitcoin and Satoshi Nakamoto’s story, goes to a OneCoin seminar in Mbarara, a town in Western Uganda, and ends with Dr. Ruja’s disappearance in October 2017.
In “The Missing Cryptoqueen’s” first episode also shows us what a charismatic leader could do with bitcoin’s story and narrative. If Dr. Ruja Ignatova didn’t plagiarize, she at least was heavily inspired by Satoshi Nakamoto’s mystique and discourse. Using quotes from her speeches, we hear Dr. Ruja speaking about a rotten financial system and corrupt banking institutions. About the possibility of banking the unbanked and what that would do for the world. About bitcoin’s pizza day story and how that could happen to them.
However, Dr. Ruja’s OneCoin was better than bitcoin. It was here to replace it, in fact.
Whenever you hear that, run. That should’ve been the witnesses’ first warning. In episode one, we hear about the OneLife network. The social part of the scam. We hear from a UK victim who assisted to the webinars, from a OneLife employee and insider, and we listen to an African song about OneCoin. There’s emotion in all of their voices. And an open wound.
Near the end, we hear about 2017 and Dr. Ruja’s disappearance from people that were there at the scene. What happened? So far, there are nine more episodes of BBC’s “The Missing Cryptoqueen.” Let’s cover them all.
BTC price chart for 09/28/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Quotes From Ep. 01 – “Dr. Ruja”
“Then, in late 2017, Dr. Ruja disappeared. One of Europe’s richest women, a woman who seemed destined to change the world had vanished.”
“It was impossible not to be impressed by Dr. Ruja. She appeared on the front cover of prestigious business magazines, she has degrees from Oxford and Konstanz University and is fluent in several languages.”
“Thousands of people were filling stadiums to hear Dr. Ruja talk, to buy OneCoin and join this financial revolution.”
“But in October 2017, there was a big OneCoin event in Lisbon, Portugal and Dr. Ruja was scheduled to speak.”
Extra Material And Episode Credits
This guide’s extra material comes courtesy of the podcast series’s IMDB page. In the description, IMDB gives us a good overview of what to expect from “The Missing Cryptoqueen.”
“Dr Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded millions to join her financial revolution, investing billions. Then she disappeared. Why? Jamie Bartlett spent months investigating how she did it for the Missing Cryptoqueen podcast, and trying to figure out where she’s hiding.”
This 2019 clip with producer Georgia Catt also qualifies as a trailer for what’s to come:
“She created this vision of herself using a bit of truth and a bit of fabrication, to create a convincing business genius…”
Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir
You’re part of NewsBTC’s “The Missing Cryptoqueen’s” listening group by just reading these guides. Let’s explore Dr. Ruja Ignatova’s world together.
Featured Image: “The Missing Cryptoqueen” logo from the BBC's site | Charts by TradingView
Fantom (FTM) bounces back with a 5% rally in over 24 hours after it hit a massive low yesterday. On-chain metrics hint at a bull run. Still, buyers are still advised to be extra cautious.
FTM rallied 5% in the past 24 hours
Fantom’s on-chain metrics hinting a bullish movement
FTM experiencing strong selling pressure
FTM bulls are still trying to push through the resistance. Evidently, the downward movement in the past couple of weeks highlights that the lower timeframe is generally bearish.
Fantom Down Since August
Judging by the 12-hour chart, FTM is seen to spiral downward which has been in progress since August when Fantom breached below $0.38 as it retests the $0.33 resistance zone and key support at $0.286.
A higher timeframe range was also spotted on the charts from $0.31 to $.53. Notably, the $0.412 range has been the resistance and support level as seen since May.
The two-hour chart for FTM reveals that another range may be formed. One was able to reach the range of $0.242 to 0.217.
According toCoinMarketCap, FTM price has slumped by 5.41% or trading at $0.2221 as of this writing.
While there is a possibility of a breach, the positioning of FTM sets it for a downtrend, especially with the increase in selling opportunities.
FTM RSI At 64, Hinting At A Bullish Movement
The crypto’s relative strength index peaking at 64 shows an obvious bullish movement with the OBV moving sideways as seen in the past week. With that in mind, even with FTM bouncing back from its low, both the price action and OBV aren’t hinting at any breakout at this point.
The resistance zone which worked as the key support in September could make significant strides again in the next couple of hours.
While buying FTM is a tempting feat it will only be an advantage when you do so under certain circumstances like a bullish market. However, Fantom is not shooting for a long-term range and is in fact even leaning towards a long-term downtrend.
A low-risk short may be apparent in the $0.244 range. An hourly session that closes above the $0. 251 zone will invalidate the bearish momentum. The bearish targets are spotted right at the middle of the range and include their lows.
FTMUSD pair trading at $0.2245 on the daily chart | Source: TradingView.com
Featured image from Zipmex, Chart: TradingView.com
After receiving approval from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the world’s fastest-growing cryptocurrency platform, Crypto.com, announced today that it has been registered in France as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF).
To acquire regulatory permission, Crypto.com underwent a comprehensive evaluation, with a focus on anti-money laundering and countering the funding of terrorism. With this registration, Crypto.com will offer clients in France a range of goods and services that are compliant with regional laws.
The European market is crucial to Crypto.com’s long-term expansion and success, thus CEO Kris Marszalek expressed his immense pride in the company’s recent AMF registration in France.
Kris Marszalek, CEO of Crypto.com said:
“The European market is central to the long-term growth and success of Crypto.com and we are tremendously proud to now receive registration in France from the AMF. We look forward to continuing to work with the AMF and the ACPR as we introduce our products and services in France, offering users a comprehensive, safe and secure crypto platform.”
With more than 50 million users globally, Crypto.com actively expands its ecosystem. Today’s approval is another feather in the hat after receiving in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, registration approval as a cryptocurrency business from the UK Financial Conduct Authority (FCA), provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, registration in Cyprus from the Securities and Exchange Commission, regulatory approval from the Cayman Islands Monetary Authority, and a pre-registration undertaking with the Ontario Securities Administration in Canada.
Anonymous has pledged to deploy a team for more findings.
Yuga Labs co-founder Greg Solano denied all claims.
The most popular NFT project, Bored Apes Yacht Club powered by Yuga Labs, has been under scrutiny from the hacktivist group Anonymous for what the group claims is the use of racist, fascist, and even pedophilia-related symbolism in their digital artwork.
According to the organization, BAYC NFTs “are infected with not one or two but with dozens of examples of esoteric symbolism and dog whistles reflecting nazism, racism, simianization, and paedophilia support.”
Multiple Degree of Allegations
The statement claims that the group felt it necessary to consider “before publicly citing our take on the allegations” by reviewing extensive documentation and speaking with many key players.
This proves “beyond a shadow of a doubt” that the BAYC and Yuga Labs were responsible for the concealment of these mysterious signs as per the organization. Furthermore, it said that individuals who dismiss its claims as “conspiracy theory” are “simply ignorant,” “not versed,” or “at a financial conflict of interest.”
In the video, Anonymous makes reference to holders, investors, partners, and prominent fans of BAYC and Yuga Labs.
Throughout the remainder of 2022 and into 2023, Anonymous has pledged to deploy a team “whose sole job will be to bring awareness to the findings and questions about the Bored Ape Yacht Club NFT collection.”
Andreessen Horowitz, Mark Cuban, Neymar Junior, Kevin Hart, Shaquille O’Neal, and other celebrities, as well as major corporations including Lion Tree, Adidas, Tiffany & Co., and others, were targeted for investment.
According to a Medium article published by Yuga Labs co-founder Greg Solano in June, the firm was falsely accused of employing “super-secret Nazis” since its members included Jews, Turks, Pakistanis, and Cubans.
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On Monday, Snowden officially became a Russian citizen.
Snowden has been an advocate of BTC and has been involved in development of Zcash.
U.S. cyberattacks and abroad surveillance operations have continued for over a decade after whistleblower Edward Snowden revealed the US government’s extensive surveillance infrastructure to spy on Americans and individuals throughout the world.
On Monday, Snowden officially became a Russian citizen. After releasing classified information in the United States, he has been hiding out in Russia since 2013. The disclosure spurred renewed debate about US-led cyberattacks and data theft both domestically and internationally.
Superior Cyber Capability Misused
When Snowden revealed the US government’s dirty laundry in 2013, he caused a sensation throughout the globe and exposed Washington’s rogue conduct. Contrary to its public statements in the international arena, the US government has violated the privacy of American citizens and the security, dignity, and interests of other sovereign countries, dealing a heavy blow to the US government’s image of self-proclaimed democracy, freedom, and defense of human rights. In addition, Washington shows no signs of ceasing its worldwide hacking and spying efforts.
Northwestern Polytechnical University (NPU) in China released a statement in June saying that its systems had been targeted by hackers from outside of China. Meanwhile, in September, researchers found evidence linking the hack to the US NSA’s Office of Tailored Access Operations (TAO), which collects data on cyber-warfare operations.
The United States has long used its superior cyber capability to launch relative assaults on other nations, doing so while disregarding the fundamental values of a civilized society for the sake of maintaining order and so inflicting the suffering of other countries. Snowden has been an advocate of cryptocurrencies, including Bitcoin. Moreover, he has been involved in the development of Zcash, a privacy coin.
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In the initial release, built on Ethereum, users will only be able to pay in ETH.
Ribbon Finance also launched Ribbon Earn and Ribbon Lend.
The market for cryptocurrency derivatives is becoming more active. Ribbon Finance unveiled its new “high-performance” options exchange, Aevo, today. In the initial release, built on Ethereum, users will only be able to pay in ETH, but in the next months, support for Bitcoin and other cryptocurrencies will be added.
The core of the platform is a “custom” Ethereum rollup developed in-house, which Julian Koh, CEO and co-founder of Ribbon, describes as “a fork of Optimism with changes for Ribbon’s use case.” Koh stated that Aevo would have “deep liquidity at launch” because of the exchange’s collaborations with market makers focused on fiver options.
Options are financial contracts that provide buyers (“call option”) or sellers (“put option”) the right to acquire an asset at a certain time and price. Because they may lock in a precise price for an item, they are often employed as a hedge against market uncertainty.
Wider Options for Users
Ribbon’s decision to enter the options exchange market is consistent with the company’s existing range of products. Perhaps the most well-known product of this endeavor is Theta Vaults, which employs an automated executed options strategy to provide returns for its customers. Users may put USDC into the Ethereum put-selling vault T-USDC-P-ETH right now, for example.
“The vaults will be built on top of the exchange, giving users much more flexibility in choosing their positions or hedging them.”
Ribbon also launched Ribbon Earn and Ribbon Lend, which, as their names imply, allow users to earn and lend cryptocurrency. Moreover, market makers who have completed KYC and AML processes may access unsecured loans through Lend.
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