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Crypto Price Today Live: Dogecoin, Shiba Inu, Polkadot drop 4% each; Unus Sed Leo rises

New Delhi: After a small rebound, the crypto market was back in the red during the early trading hours on Wednesday. Bitcoin again breached the $20,000 threshold, denting the sentiments for other crypto assets.

The flow of bad crypto news was slower than it has been most days over the past six weeks. However, the gloom and fear in the crypto industry still persist.

Barring the Unus Sed Leo, which was up by 3 per cent down, all other crypto tokens were lower on Wednesday. Shiba Inu, Dogecoin and Polkadot plunged 4 per cent each, whereas Cardano shed 3 per cent.



The global cryptocurrency market cap was trading lower at the $894.51 billion mark, dropping almost 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume jumped almost 17 per cent to $64.82 billion.

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Will Quitriam Finance (QTM) Outperform and Produce Greater Returns than Polkadot (DOT) and Binance Smart Chain (BNB)?

A great number of people have made monumental gains and have been able to achieve financial independence as a result of cryptocurrency, but as the market grows in popularity, it becomes more competitive and complex.

Over 17,000 different cryptocurrencies are now in use. In addition, market research and analysis can be time-consuming. Since their presale, Polkadot (DOT) and Binance Smart Chain (BNB) have achieved huge gains. But when is exactly the best moment to buy cryptocurrency? Presales are a great way to boost your profit margins. Quitriam Finance is currently running their presale, do they have the potential to outperform these industry leaders?

Polkadots (DOT)

Polkadot (DOT) is a blockchain connectivity protocol that allows value and data to be seamlessly exchanged between previously incompatible networks like Bitcoin and Ethereum.

The Polkadot protocol is meant to securely connect blockchains so that value or data can travel seamlessly between them without necessitating the need for a middleman. It is also meant to be fast and scalable, thanks largely to the usage of multiple parallel blockchains (parachains) that offload a lot of the processing load from the main blockchain.

The Polkadot token (DOT) has two main functions on the Polkadot network: One, it is a governance token that allows holders to have a vote on the future direction and plans of the protocol, and two, it is used for staking, which is how the Polkadot network verifies transactions and issues fresh DOT. Due to the various parachains handling a lot of the heavy lifting for the main relay chain, Polkadot is therefore able to process all of this data. As a result, the Polkadot network can handle over 1,000 transactions per second, as compared to approximately 7 for Bitcoin and 30 for Ethereum. Polkadot should become increasingly faster as the network expands and more parachains are added, potentially reaching a million transactions per second.

Binance Smart Chain (BNB)

Binance Smart Chain (BNB) is Binance’s cryptocurrency. The BNB token, which provides both a centralized and a decentralized exchange, is the Binance network’s principal utility coin.

Binance Exchange, which supports more than 1.4 million transactions per second, is the world’s largest cryptocurrency exchange as of June 2021. Initially, Binance currency started out as an ERC 20 token on the Ethereum blockchain, but it has since evolved into the Binance chain’s native coin. It was released in July 2017 as part of an initial coin offering (ICO) with a cap of 200 million Binance (BNB) tokens.

It is a launchpad platform with a number of extra features, such as the ability to farm and mine liquidity. Discounts, airdrops from projects on the Binance launchpad, and the chance to profit from Binance’s vault services are all available to BNB currency holders. To reduce the amount of tokens in circulation, Binance Smart Chain burns BNB on a regular basis. Binance Smart Chain is a deflationary token as a result of this.

Quitriam Finance (QTM)

Quitriam Finance (QTM) is a brand new cryptocurrency that is now in its pre-sale. Because of its creative principles, Quitriam Finance (QTM) has emerged as a strong contender for handling a variety of duties. They are working on an aggregator that will bring together a variety of crypto-related firms to create a more vibrant environment.

Quitriam Finance (QTM) is a multichain project that will allow users to use many blockchain technologies simultaneously. They would also be able to complete transactions faster than any other platform project (unichain).

This is a difficult time to shake the crypto world, especially with the recent crash in crypto prices. Values dropped drastically and a lot of people lost money in the crash. Thousands of coins have attempted but failed miserably.

Quitriam Finance (QTM), which strives to expand its community and improve human lives, has the potential to grow and become highly successful. But there is need to imbibe caution in the choice of crypto coins to invest in.

Click these links to learn more:

Presale: http://presale.quitriam.io/

Website:https://quitriam.io/

Instagram: https://www.instagram.com/quitriam_finance

Twitter: https://twitter.com/quitriamfinance

Telegram:https://t.me/QUITRIAMFINANCEOFFICIAL




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cryptocurrency price today: Top cryptocurrency prices today: Polkadot, Bitcoin, Cardano, Avalanche drop up to 4%

New Delhi: Major crypto tokens were trading with minor cuts on Wednesday as the market sentiments remain bearish and investors wary of the riskier asset classes. However, stablecoins were on the radar after Terra fiasco.

Cryptos tracked equity markets to log muted gains following encouraging US retail spending and industrial production reports. Barring the US Dollar pegged stablecoins, all the tokens were trading lower on Wednesday. Polkadot dropped 4 per cent, followed by a 2 per cent fall in Bitcoin, Cardano and Avalanche each.

The global cryptocurrency market cap was trading lower at the $1.29 trillion mark, dropping about a per cent in the last 24 hours. However, the total cryptocurrency trading volume tumbled more than 11 per cent to $77.72 billion.



What’s cooking in India
Celebrities should be “circumspect” while featuring in cryptocurrency-related advertising, since crypto is an unregulated product in India, the Advertising Standards Council of India (ASCI) said.

Crypto trading platform WazirX released the second edition of its semiannual ‘Transparency Report’ for October 2021 – March 2022 period, which provides an overview of initiatives and partnerships that the company took in the last 6 months to safeguard investors’ interest from its end.

Expert take
Do kwon proposes to fork into “Terra”, a new chain without algorithmic stablecoin “UST” and will primarily focus on DiFi protocols only, which was their other selling point besides the stablecoins, and the old chain would be “Terra Classic”, said WazirX Trade Desk in its morning note.

“Both chains will coexist just like how Ethereum and Ethereum classic exist. The new Luna tokens will be airdropped to Luna classic holders, stakers, and app developers of Terra Classic,” it added.

Global updates

  • Blockchain investment firm Digital Ventures is raising $100 million for a digital asset fund with an altcoin focus that aims to bridge the gap between traditional and decentralized finance (DeFi). The fund requires clients to have at least a $2.5 million net worth to invest.

  • Venture capital firm Andreessen Horowitz (a16z) has released its inaugural ‘State of Crypto’ report that includes cyclical information relevant to the current downturn, according to a CoinDesk report.

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What Are Parachain Auctions And How Do They Work?

Parachain auctions occur on the two sister blockchains, Polkadot (DOT)

and Kusama (KSM). The auctions allow developers to create new crypto

assets and decentralised applications (dApps) on top of these blockchains.

However, before we understand what parachain auctions are, it is vital

that we first understand how these two blockchains work. They have a

unique construct consisting of two chains — the relay chain and the

parachain.

The Relay Chain:

The main blockchain where vetted and finalized

transactions are added as blocks.

Parachains: These are independent blockchains linked to the Relay

Chain such that they can use the Relay Chain’s computing power to

scrutinize transaction data.

Parachains on Polkadot and Kusama allow developers to create

independent blockchains that are linked to the relay chains of the two

sister blockchains. This allows each parachain to have its own unique

specifications, including block times, transaction fees, governance

mechanism and mining rewards.

This is unlike Ethereum, where dApps need to be built within the specifications set by the network. Therefore, the parachain can be thought of as an interoperability chain. It allows third-party dApps and crypto assets to be integrated within the Polkadot (DOT) and Kusama (KSM) networks.

The relay chain handles network security, the consensus mechanism and

transaction settlement. And by virtue of being linked with the relay chain,

all independent projects on the parachain benefit from the features of the

relay chain.

What are Parachain Auctions?

Presently, both blockchains are capable of supporting 100 parachain slots

each. These slots can be occupied for three months at a stretch with a

maximum duration of 96 weeks.

At any given time, various projects are vying for a spot on the parachain. And instead of adding parachains to the blockchain based on the amount

of funding they bring, the Polkadot team introduced Parachain Auctions

(short for Parachain Slot Auctions) to ensure that the available slots are

utilized optimally.

How Parachain Auctions Work:

When a Parachain Auction is held, DOT or KSM holders can pledge their

respective tokens to the project they think deserves the parachain slot.

The project may send them airdrops or some other reward in exchange for

their support. The winner of the parachain slot may also sell it on the

secondary market to a developer, who wishes to deploy their project

on that parachain.

But how is a slot winner determined?

The auction method: Parachain Auctions use ‘candle auctions’ to ensure that the winner is picked randomly without any human intervention. The process gets its name from an ancient bidding practice wherein a candle would be lit at

the start of a ship auction, and the highest bidder would win the ship at

the time of its extinguishing.

The same logic is applied to Parachain Auctions. Bidders have a fixed

window within which they must place their bids on the projects whose

execution they think should move forward. However, unlike the traditional

candle auction, the parachain auction never really ends. Instead, a

snapshot is taken at a random period and the parachain with the most

support in that period is the winner. This is done to maximize the fairness

of the bidding process.

Crowdsourcing: Blockchain projects are allowed to crowdsource support

over and above individual bidding. In this process, KSM and DOT owners

can bond their assets to these projects on either network to indicate

support for that particular project. If the project is deemed the winner,

these bonded assets are locked and can only be redeemed at the end of

the lease period (96 days).

How is this different from an Initial Coin Offering (ICO)?

In the case of an ICO, users provide funds to the project developing team

to use them in a manner of the team’s choosing. However, in the case of a

Parachain Auction, the bonded tokens are never in control of the project

developers and are sent back to the owners through airdrops or other

reward systems.


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Bitcoin, Ethereum, Dogecoin, Shiba Inu take a hit

The price of Bitcoin, the world’s largest cryptocurrency, is seeing a decline. There is a fall in the price of Ethereum as well.

Cryptocurrency market update: Bitcoin, Ethreum, Dogecoin, Shiba Inu take a hit
Author

New Delhi, First Published Mar 21, 2022, 11:24 AM IST

On the first trading day of the week, a mixed effect is being seen in the cryptocurrency market. The price of Bitcoin, the world’s largest cryptocurrency, is seeing a decline. There is a fall in the price of Ethereum as well. Also on the decline are Dogecoin and Shiba Inu. At present, the global cryptocurrency market is below the 2 trillion dollar mark.

The price of bitcoin, the world’s largest cryptocurrency, is trading below the $41,000 level today on Monday. The digital token is trading down 2.3 per cent at $40,917 (at 11:15 am). The world’s largest and most popular cryptocurrency is down nearly 11 per cent (year-to-date) so far in 2022. It is about 30 per cent off the record high of $69,000 Bitcoin achieved in November last year. The global cryptocurrency market cap stands at $1.95 trillion.

Ethereum and Other Cryptocurrencies

The world’s second-largest cryptocurrency, Ethereum, also fell more than 2 per cent to $2,857. The price of Dogecoin fell nearly 3 per cent to $0.11 while the Shiba Inu was down around 4.5 per cent to trade at $0.000022. Other digital tokens such as Polygon, Litecoin, Stellar, Uniswap, Solana, Polygon, Polkadot, Cardano also declined in performance over the past 24 hours, while Tera rose over 2 per cent.

Why The Volatility

Cryptocurrencies have been engulfed by the same forces that have hurt other risk assets, including US stocks, this year. The recent volatility in cryptocurrencies comes amid a broad market sell-off arising out of geopolitical tensions triggered by the Russia-Ukraine crisis. On the other hand, the US Federal Reserve has increased interest rates. The Federal Reserve has made it clear that interest rates will be increased in the coming 6 Fed meetings.

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Last Updated Mar 21, 2022, 11:25 AM IST

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Top cryptocurrency prices today: Bitcoin gets breather; BNB, Polkadot zoom up to 7%

New Delhi: The cryptocurrency market got a breather on Wednesday as major tokens got their mojo back. Federal Reserve chair Jerome Powell did not surprise traders in his testimony, which led to a relief rally in the crypto market.

Barring Bitcoin and the dollar-pegged USD Coin, all other nine out of top 10 digital tokens were trading higher at 8.30 am IST. BNB rose 7 per cent and Polkadot zoomed 6 per cent, whereas XRP and Cardano added 4 per cent each.

The global crypto market cap was up by almost 3 per cent to $2.01 trillion mark compared to the last day. However, the total crypto market volume dropped over 13 per cent to $88.53 billion.



Bitcoin led a broad crypto recovery ahead of the US CPI release. Bitcoin and the broader crypto market have behaved strongly like a risk asset recently.

What’s cooking in India?
The government has sought opinion from senior tax advisors on whether the income earned from trading or investing in cryptocurrencies could be treated as business income as against capital gains from this year onwards, ET reported.

The move could substantially increase the tax burden of crypto investors. The government is looking to fine-tune the definition of income and gains specifically for crypto assets in the upcoming budget.

Expert’s take
Buyers rushed in to take advantage of Bitcoin’s drop below $39,650, but there are indicators that the market-wide slump isn’t done yet, said WazirX Trade Desk.

“Bitcoin fell below $40,000 for the first time since September 2021. The crypto markets weren’t the only ones to see heavy selling as traders decided to decrease risk by piling into the 10-year Treasury yield,” it added.

Quant researcher Benjamin Cowen gave investors some comfort when he claimed that levels of ‘severe fear’ on the Crypto Fear & Greed Index had only happened four times since 2018, with positive reversals.

“This means that the bull and bear market have an elastic effect, the more rigorously the market goes down the more aggressively it comes back up giving remarkable returns. We should see a huge correction in the market very soon,” it added further.

Global updates
Major US crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after ‘long days and long weeks’ of intense work.

Employees from Microsoft and Apple are jumping ship to join Meta Platforms as the company sets its sights on creating the Metaverse.

Brokerage firm eToro introduced MetaverseLife, a new smart portfolio covering stocks and crypto-assets from within the growing metaverse industry. It stated that its goal is to offer a wide range of investments made for a long-term view.

Tech View from BuyUcoin
Bitcoin was below the $40,000 support level, reaching almost near to its Death Cross. Bulls still hold power and have pushed Bitcoin above $42,000. It is still in a downtrend, below the $45,000 resistance level.

BTC needs a little bit more recovery as RSI is still below 50, indicating that it is oversold. If Bitcoin missteps then a setback can be seen near the $38,000 – $36,000 zone.

btcAgencies

If bulls try to make an upside move, then the price may soar to around the $45000 level.


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