LG plans to restructure its business portfolio and modernize its hardware division.
The blockchain-powered digital asset wallet is built on the Hedera Hashgraph platform.
Amidst volatile digital asset market circumstances, several electronic heavyweights are joining the race to Web3. To that end, the South Korean electronics giant LG is apparently aiming to provide a utility service by the end of the third quarter.
It has been reported that LG would introduce a blockchain-powered digital asset wallet built on the Hedera Hashgraph platform. Its name will be Wallypto. This is part of LG’s plan to restructure its business portfolio and modernize its hardware division. Information in the report suggests the organization will seek to create synergy by integrating blockchain technology into existing operations.
Forays into Blockchain and NFT sector
The electronic behemoth may now join the blockchain and NFT sector thanks to this. LG has already been testing the app with programmers in a beta status over the last month. Still, it’s being double-checked before release. There are rumors that the next “Wallypto” platform will be based on Hedera and will have support for the HTS token, which is used on the Hedera network. Meanwhile, it plans to increase the number of networks it is compatible with. However, NFTs may also be registered by users.
LG has already said that it would include NFT platform characteristics in its electrical products. LG has not yet used the application in a commercial building, per corporate policy. However, it’s still in the early stages of developing the technology’s potential applications.
However, it’s possible that they’ll eventually develop their own blockchain-based platform. The electronic giant is always on the lookout for new markets to enter. LG is attempting to use it in the ‘LG ThinQ’ IoT platform.
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Only 7 of the 705 MEPs were opposed to the resolution while 47 were missing.
Small investors and transactions are also taken into account by the resolution.
The European Parliament has approved a plan to use blockchain technology to provide a more robust approach to minimizing instances of tax evasion, and to create a more coordinated and equitable taxation system for cryptocurrencies.
More than 80% of MEPs in the European Parliament voted in support of the motion authored by MEP Lidia Pereira. Only 7 of the 705 MEPs were opposed to the resolution, while 47 were missing and 566 were in favor.
Focusing on Tax Reduction and Evasion
On Tuesday, the European Parliament issued a press statement detailing the new development. The resolution provides an unambiguous answer to the question of taxes in the context of the crypto business across EU nations. It acknowledges the need for a clear and equitable taxation framework for digital currencies. A number of nations continue to fight the perilous problem of tax evasion.
Small investors and transactions are also taken into account by the resolution. The press release claims that these investors would see a moderate reduction in their tax burden.
The European Commission has been given responsibility for carrying out this provision of the resolution. The Commission will assess the kind of cryptocurrency taxes in each EU member state. Additionally, it will evaluate the methods used by each nation to reduce tax avoidance.
In addition, the resolution seeks to define crypto assets in a way that is approved by all parties. In addition, it attempts to specify which types of assets are generally recognized as liable for taxation. This will alleviate some of the confusion that exists within the EU about definitions.
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Bullish MX price prediction is $1.1198 to $2.6884.
MX Token (MX) price might also reach $5 soon.
Bearish MX price prediction for 2022 is $0.7614.
In MX Token (MX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about MX to analyze the future movement of the cryptocurrency.
MX Token (MX) Current Market Status
According to CoinMarketCap, the price of MX Token (MX) is $0.9204 with a 24-hour trading volume of $1,762,832 at the time of writing. However, MX has decreased by nearly 1.59% in the last 24 hours.
Moreover, MX Token (MX) has a circulating supply of 100,000,000.00 MX. MX Token (MX) trades in cryptocurrency exchanges such as MEXC, Bybit, Huobi Global, Pionex, and ZT.
What is MX Token (MX)?
The cryptocurrency exchange MEXC Global created its own cryptocurrency MX Token (MX) in 2019 to help it encourage long-term users of its platform. MX Token was built on the Etehreum blockchain and focuses on easing the trading experience. There are many uses for the token. Investors can participate in governance features like electing community members. MX is also the proof of MEXC community’s rights.
MX Token (MX) Price Prediction 2022
MX Token (MX) holds the 199th position on CoinGecko right now. MX price prediction 2022 is explained below with a daily time frame.
The symmetric triangle chart pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline indicates the beginning of a new bearish trend. On other hand, a breakout from the upper trendline signal shows the beginning of a new bullish trend. Traders also use moving averages in conjunction with a symmetrical triangle chart pattern to trail their stop loss.
Currently, MX Token (MX) is in the range of $0.9204. If the pattern continues, the price of MX might reach the resistance levels of $1.0042, and $1.0506. If the trend reverses, then the price of MX may fall to $0.9084, & $0.8524.
MX Token (MX) Support and Resistance Levels
The chart below shows the support and resistance levels of MX Token (MX).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for MX Token (MX).
Resistance Level 1
Resistance Level 2
Resistance Level 3
MX Resistance & Support Level
The charts show that MX Token (MX) has performed a bullish trend over the past month. If this trend continues, MX might run along with the bulls overtaking its resistance level at $2.6884.
Accordingly, if the investors turn against the crypto, the price of MX Token (MX) might plummet to almost $0.7614, a bearish signal.
The Relative Volume (RVOL) of MX Token (MX) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of MX lies below the line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of MX Token (MX) is shown in the chart above. Notably, the MX Token (MX) price lies on the 50 MA (short-term), so it is in a downtrend. Currently, MX has entered a bearish state. Therefore, there is a possibility of a reversal trend of MX at any time.
Meanwhile, the relative strength index (RSI) of the MX is 41.18. This means that MX Token (MX) is in an nearly oversold state. However, this means a major price reversal of MX may occur in the upcoming days. So, traders need to trade carefully.
MX Token (MX) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of MX Token (MX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of MX Token (MX). Currently, the ADX of MX lies in the range of 9.9782 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of MX Token (MX). RVI measures the constant deviation of price changes over a period of time. The RVI of MX lies below 50, indicating high volatility. In fact, the RSI of MX Token (MX) is at 41.18 thus confirming a potential sell signal.
Comparison of MX with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and MX Token (MX).
From the above chart, we can interpret that the price action of MX is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases, the price of MX increases.When the price of BTC and ETH decreases,the price of MX decreases.
MX Token (MX) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, MX Token (MX)might probably attain $6 by 2023.
MX Token (MX) Price Prediction 2024
With several upgrades in the network, MX Token (MX) might enter a bullish trajectory. If the coin grabs the attention of major investors, MX might rally to hit $9 by 2024.
MX Token (MX) Price Prediction 2025
If MX Token (MX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, MX would rally to hit $11.
MX Token (MX) Price Prediction 2026
If MX Token (MX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, MX would rally to hit $15.
MX Token (MX) Price Prediction 2027
If MX Token (MX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, MX would rally to hit $17.
MX Token (MX) Price Prediction 2028
MX Token (MX) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, MX would hit $21 in 2028.
MX Token (MX) Price Prediction 2029
If investors flock in and continue to place their bets on MX Token (MX), it would witness major spikes. MX might hit $26 by 2029.
MX Token (MX) Price Prediction 2030
With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in MX for the next 8 years and drive significant price rallies for the token. Hence, MX Token (MX) might hit $30 by 2030.
With continuous improvements in the MX Token Network, we can say that 2022 is a good year for MX. For this reason, the bullish price prediction of MX Token (MX) in 2022 is $2.6884. On the other hand, the bearish price prediction of MX Token (MX) price prediction for 2022 is $0.7614.
Furthermore, with the advancements and upgrades to the Basic Attention Token ecosystem, the performance of MX would help to reach above its current all-time high (ATH) of $3.70 very soon. But, it might also reach $5 if the investors believe that MX is a good investment in 2022.
1. What is MX Token (MX)?
The cryptocurrency exchange MEXC Global created its own cryptocurrency MX Token (MX) in 2019 to help it encourage long-term users of its platform.
2. Where can you purchase MX Token (MX)?
MX Token (MX) has been listed on many crypto exchanges which include MEXC, Bybit, Huobi Global, Pionex, and ZT.
3. Will MX Token (MX) reach a new ATH soon?
With the ongoing developments and upgrades within the Basic Attention Token Platform, MX has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of MX Token (MX)?
On December 02, 2021 MX Token (MX) reached its new all-time high (ATH) of $3.70.
5. Is MX Token (MX) a good investment in 2022?
MX Token (MX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Basic Attention Token In the past few months, MX is considered a good investment in 2022.
6. Can MX Token (MX) reach $300?
MX Token (MX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then MX Token (MX) will hit $300 soon.
7. What will be the MX Token (MX) price by 2023?
MX Token (MX) price is expected to reach $6 by 2023.
8. What will be the MX Token (MX) price by 2024?
MX Token (MX)price is expected to reach $9 by 2024.
9. What will be the MX Token (MX)price by 2025?
MX Token (MX) price is expected to reach $11 by 2025.
10. What will be the MX Token (MX) price by 2026?
MX Token (MX) price is expected to reach $15 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Dubai, United Arab Emirates, 5th October, 2022, Chainwire
The first edition of the Middle East Blockchain Awards will be held in Abu Dhabi in November 2022, to recognise and reward outstanding efforts within the fields of blockchain and Web 3.0 innovations. Hoko Agency Middle East will host the Awards, in association with Abu Dhabi Global Market’s flagship platform, Abu Dhabi Finance Week; and the Middle East, Africa and Asia Crypto and Blockchain Association (MEAACBA).
Frontrunners in the industry will be recognised through the Middle East Blockchain Awards (MEBA), with all nominations assessed by a panel of prestigious experts. Judges include:
● Dr. Marwan Al Zarouni, CEO of Dubai Blockchain Centre (DBCC)
● Jehanzeb Awan, Board Member of MEAACBA, Founding Partner and CEO of J. Awan and Partners
● Miriam Kiwan, Former Head of Digital Assets at ADGM, Board Member at BlackOack Global
● Misha Hanin, Co-founder and CEO of BEDU
● Saqr Ereiqat, Co-Founder and CCO of Crypto Oasis
● Matthew Amlot, Managing Editor of Arabian Business
MEBA will be held in the stunning Palm Garden at the five-star W Abu Dhabi – Yas Island on 18 November 2022 in the midst of the high-energy F1 Race Weekend. The black-tie event promises a spectacular evening of recognition, insight and entertainment, attended by high-profile individuals from across the GCC.
Abu Dhabi was chosen as the host city for the inaugural awards because of the UAE leadership’s commitment to progression and innovation in blockchain and digital transformation. The UAE as a whole has made significant moves towards the regulation, safety and transparency of blockchain and digital assets, driving the importance of global standards for industry compliance that will benefit all aspects of Web 3.0. This forward-thinking approach has attracted numerous global players to establish their presence in the emirates, creating a strong ecosystem that contributes towards its reputation as a hub for crypto and beyond.
Jehanzeb Awan, Board Member of MEAACBA, Founding Partner and CEO of J. Awan and Partners said: “Blockchain is creating a digital ecosystem which will support a new world of services and products ranging from financial services through to real economy. The Middle East Blockchain Awards will help drive innovation, reward excellence and provide a benchmark for companies to aspire to and in doing so contribute significantly to the regional ecosystem.”
Max Palethorpe, Founder and CEO of Hoko Group said: “The Middle East Blockchain Awards come at a time when people and businesses are pushing the boundaries of what was previously thought impossible, making significant headway into a digital-first world. This is a very exciting period for anyone involved in the Web 3.0 ecosystem. It’s our privilege to honour those who are forging new paths with the recognition they deserve.”
Award categories include Most Innovative DeFi Platform 2022, Most Promising DEX to Watch 2022, Most Powerful CEX 2022, Best Mobile Crypto Wallet 2022, Best NFT Marketplace 2022, Best Crypto Investment Fund 2022, Most Promising Web 3.0 Ecosystem 2022, Best Nft & Gamefi Project 2022, Top Global Crypto Youtuber / Influencer 2022, Most Influential Woman in Blockchain & Crypto 2022, Most Influential CMO in Blockchain & Crypto 2022, Most Influential Global Crypto News Service 2022, Most Influential CEO In Blockchain & Crypto 2022, and Most Promising ESG Crypto Project.
Fidelity has been hard at work on their own cryptocurrency exchange, called EDX Markets.
Mike Novogratz, CEO of Galaxy Digital first informed about the update.
Registration paperwork submitted to the U.S. Securities and Exchange Commission (SEC) reveals that Fidelity has invested $5 million in a new Ethereum index fund. Moreover, the $4.5 trillion asset management filed its Fidelity Ethereum Index Fund with the SEC on Tuesday but reported that the first sale occurred on September 26.
Although the news did not come directly from Fidelity, it was speculated last month that the company was exploring allowing Bitcoin trading for its more than 34 million retail clients. Mike Novogratz, CEO of Galaxy Digital, let the cat out of the bag at New York’s SALT event.
Competing With Established Rivals
Fidelity has been hard at work on their own cryptocurrency exchange, called EDX Markets. A Fidelity representative told last month that the business has formed a consortium with Charles Schwab, Citadel Securities, and other sponsors in order to launch a new exchange that would “enable a more efficient, safe, and cost-effective procedure for trading digital assets.”
The new Fidelity Ethereum Index Fund competes with a growing number of established rivals in this space. Bitwise, a $1 billion experienced asset manager, reported $25 million in Ethereum Fund assets under management in an SEC filing in September. Furthermore, the Bitwise Ethereum Index Fund was introduced by the San Francisco firm in 2018, making it far more established.
The primary distinction between index funds like those offered by Fidelity and Bitwise and ETFs like the Grayscale Ethereum Trust (ETHE) is the method through which they are traded. Fidelity’s new index fund, like all others, is available only after markets have closed, at predetermined prices.
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Kishida said the country would expand the use of Web3 services.
Japan has decided to strengthen an existing money laundering regulation.
In a policy speech on Monday, Japan’s Prime Minister Fumio Kishida announced his intention to boost developments in Non-fungible tokens (NFTs) and the Metaverse. According to Kishida, the country would increase its investments in digital transformation and expand the use of Web3 services, reported the Japanese Prime Minister’s Office.
Over time, Japan’s position on cryptocurrencies has evolved. Following the “New Capitalism” concept of Japanese Prime Minister Fumio Kishida aims to strengthen Japan’s economy. The Prime minister has already promised to double household wealth and committed to assisting in the expansion of Web3 companies around the country. Also previously Kishida has said that the nation’s future growth strategy will include developments relating to the metaverse and NFT.
The prime minister made additional notes in the statement about digitizing national identification cards. And he added Japan will continue supporting the social implementation of digital technologies. In 2021, Kishida positioned himself in Web3 development, which he considered one of the fundamental elements of economic change.
Japan Stands on Digital World
In July, Japan’s Ministry of Economy, Trade, and Industry established a “Web 3.0 Policy Promotion Office to improve the system analyzing the business environment for blockchain-based companies. Additionally, the University of Tokyo intends to include metaverse-related courses in its curriculum. The university will offer different types of engineering courses that make use of metaverse technology.
Furthermore, according to the recent announcement, the Japanese government is attempting to implement some regulations regarding remittances to prevent criminals from using exchanges to launder money.
IMX price could be ready for a short-term relief rally as price breaks out from the downtrend, creating more bullish sentiment for a recovery.
IMX looks strong on both low and high timeframes.
The price of IMX breaks out on the daily timeframe after forming a descending triangle.
ImmutableX (IMX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $1.3. Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. With so much belief in Uptober, as many would call it, has brought some relief bounces across the crypto space with ImmutableX (IMX) not left out of the train. (Data from Binance)
ImmutableX (IMX) Price Analysis On The Weekly Chart
The new month has been a relief for most crypto projects, with altcoins such as BTC, ETH, and even XRP, continuing to show strength after weeks of downtrend movement.
The price of IMX has struggled to remain bullish, falling from a high of $1.3 to a weekly low of $0.7, with the price looking more stable as the price looks ready to bounce off from this region.
After hitting a bottom low of $0.7, the price of IMX bounced swiftly from that region as the price rallied to a high of $1.1. Still, the price was rejected from that region as IMX was unable to breach this area aching as resistance for price and preventing a major rally to the $1.2 area.
The price would not hold as IMX found its price retesting the support at $0.7, IMX closed the week with so much indecision among buyers and sellers, but the new week looks good as there have been more buyer orders pushing the price upward.
If the price of IMX continues to maintain this structure, we could see a retest of the $1.1 area, and if the price of IMX breaks and hold above this region, we could see a more bullish scenario.
Weekly resistance for the price of IMX – $1.1.
Weekly support for the price of IMX – $0.7.
IMX Analysis Of REN On The Daily (1D) Chart
On the daily timeframe, the crypto market cap price remains bullish, holding the support at $850 billion ($850B); this has also impacted the price of the altcoins like IMX as it shows a more bullish form on the daily price chart. The price of IMX broke out of its descending triangle on the daily timeframe, with the price ready for a rally to $1-$1.2.
The price of IMX is currently trading at $0.78, with the price holding above the 8 and 20-day Exponential Moving Averages (EMA) after breaking through resistance in this region, flipping it into a support for IMX price. The price at $0.75 corresponds to the values of 8 and 20-day EMA acting as support.
Daily resistance for the price of IMX – $1.2.
Daily support for the price of IMX – $0.75-$0.7.
Featured Image From Zipmex, Charts From Tradingview