Day: March 8, 2021

The next Bitcoin? Investors flock to new cryptocurrency Cardano ‘ADA’

The next Bitcoin? Investors flock to new cryptocurrency Cardano 'ADA'

As Bitcoin surges cryptocurrency investors are looking for the next golden goose, with one token in particular exploding in value.
It’s called ADA, and it is the native token of the Cardano blockchain (a similar technology to Bitcoin, where all transactions are recorded on a single ledger).
Much like other cryptocurrencies, any user anywhere in the world can use ADA as a secure exchange of value.
It’s currently priced at $1.39 per token – but if you jumped onboard in 2020 you could have bought ADA for just 20 cents per token.
According to trading multi-brokerage company eToro, ADA has seen a 157 per cent increase in trading in the past month, hitting a high of $1.45 on the last weekend of February.
Simon Peters, eToro’s resident cryptocurrency expert, said clued-in investors were searching for alternatives to Bitcoin that would allow them to get in on the ground floor of the next big boom.
“The market is evolving. Rather than focus solely on bitcoin and ethereum, where many investors can only own a fraction of one coin, we are seeing increasing demand for coins priced like bitcoin and ethereum were a few years ago,” Mr Peters said.
“Investors are looking for the next bitcoin, meaning they’re investing in cheaper tokens like Cardano’s ADA, IOTA and Tron, all of which are priced around the $1 mark.
“We believe this year could see this hunt for the next ‘bitcoin’ intensify, as the market widens and other coins gain their own following.”

Source – 9 News 

 

Apple Pay integration and Staking 3.0 launch push COTI price to a new high with simplex integration

Apple Pay integration and Staking 3.0 launch push COTI price to a new high with simplex integration

COTI price hit a new all-time high following the roll-out of Staking 3.0 and a Simplex integration that allows Apple Pay users to purchase the token.
As big-name payment processors like Visa and Mastercard increasingly integrate blockchain technology into their payment rails, decentralized platforms offering the best solutions to issues like scalability and fast transaction times are gaining traction.

COTI is one such platform that has been gaining momentum in recent weeks after a series of network upgrades and big announcements brought extra attention to the enterprise-grade fintech platform.

According to COTI’s website, the protocol focuses on empowering organizations to create their own payment solutions and digitize any form of currency as a way to save time and money.
Data from Cointelegraph Markets and TradingView shows that the price of COTI has rocketed 345% over the past month, going from a low of $0.63 on Feb. 4 to a new all-time high of $0.283 on March 5, as investor excitement grows following the release of COTI Staking 3.0 on March 1.

Source – Coin Telegraph

Anti-virus mogul John McAfee charged with fraud over crypto promotion

Anti-virus mogul John McAfee charged with fraud over crypto promotion

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money laundering conspiracy charges stemming from two cryptocurrency schemes, the US Department of Justice said on Friday.

Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr, of exploiting McAfee’s large Twitter following to artificially inflate prices of “altcoins” through a pump-and-dump scheme, and concealing payments McAfee received from startup businesses to promote initial coin offerings.

McAfee and his accomplices allegedly reaped more than $13m from the schemes, according to the US Department of Justice. The Commodity Futures Trading Commission filed related civil charges concerning the alleged pump-and-dump scheme.

Lawyers for McAfee and Watson could not immediately be identified.

McAfee is being detained in Spain following his arrest there on tax evasion charges, which was announced in October, the justice department said. Watson was arrested on Thursday night, the department added.

Both also face civil charges by the US Securities and Exchange Commission, which in October accused McAfee of concealing more than $23.1m he made from boosting seven cryptocurrency offerings on Twitter.

McAfee became the subject of a media frenzy in 2012 when he fled his home in Belize after police sought him for questioning about the death of a neighbor. They ultimately said he was not a suspect.

In the cryptocurrency cases, authorities said McAfee touted assets including Verge, Reddcoin and Dogecoin as part of a “Coin of the Day” or “Coin of the Week” tweet from around December 2017 through February 2018.

Authorities said McAfee held himself up as an expert on cybersecurity and cryptocurrency through his tweets, speeches and his role as a CEO of a publicly traded cryptocurrency company.

They also accused him of telling followers he had no stake in the coins, even as he touted how they “will change the world”.

Source – The Guardian