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5 Best Cryptocurrencies to Buy as the Market Finds Its Bottom

Our roundup of the 5 best cryptocurrencies to buy as the market starts to put in a bottom could be the most profitable reading you […]

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Our roundup of the 5 best cryptocurrencies to buy as the market starts to put in a bottom could be the most profitable reading you do this year. Cryptocurrencies have blazed a trail through the financial market these past few years, with the nascent industry reaching a trillion-dollar valuation in under a dozen years.

It didn’t stop there though, crossing the $2 trillion mark earlier this year and topping off at $2.5 trillion before slumping to $1.5 trillion. It has rallied somewhat to $1.66 trillion (at press time), showing a 1% increase, according to coinmarketcap.

But the fanfare seems to be dying down as there are calls for regulating the crypto market. Increasing criticism of the nascent industry by government officials and supporters-turned-critics has seen the crypto market losing a large portion of its gains.

Despite this, market analysts believe that the crypto market is set for a bullish run. So we bring you the five best cryptocurrencies to buy as the market prepares for an uptrend. These digital assets would cushion the effect of a crash and will give you bigger payoffs in the event of a market surge.

1. Ether (ETH)

Top on our list of the best cryptocurrencies to buy is ETH. The asset lost 56 percent of its total value at the height of the May downturn, dropping from a high of $4,109 on May 10 and bottoming out at $1,792 on May 24.

However, like many top cryptos, ETH is climbing again. The asset’s price is holding steady at $2,843 at press time, and investors hope that it can do much better going forward.

Ethereum Price June 7

Last week, ETH turned down from the 50-day Simple Moving Average (SMA) of $2,908, re-entering the symmetrical triangle. However, bulls continued to buy the dips, ensuring that the asset’s price didn’t slip below $2,500. Analysts are now watching to see if buyers can drive ETH’s price above the 50-day SMA. If they can, they could regain control of the market and drive ETH’s price up to $3,300.

ETH is also enjoying some positive developments in the crypto space. Last week, Anchorage Digital – a top digital banking firm – announced the launch of ETH-backed loans to some of its institutional investors.

A report from Goldman Sachs last month also revealed the bank’s belief that ETH could eventually overtake Bitcoin as a dominant store of value. With the Ethereum network enjoying a boost from decentralized finance (DeFi) and non-fungible tokens (NFTs), things look bright for the second-most valuable crypto asset.

2. Buy Cardano (ADA)

Another large-cap asset, ADA is the fifth-most valuable digital asset. It managed to weather the May downturn better than most of its compatriots above the market cap rankings, rising to an all-time high of $2.46 on May 16. The downturn eventually affected the asset, with ADA’s price dropping by 58 percent from its all-time high to bottom out at $1.03 on May 24.

ADA June 7 price chart

ADA has managed to rise to $1.72 at press time, sliding into our list of the best cryptocurrencies to buy in June 2021. The asset spent most of last week between the $1.0 and $1.9 range, and bills are looking to defend the 20-day exponential moving average (EMA) of $1.66.

This week, analysts will watch to see if ADA can break out of $1.94 – a strong indicator that bulls have held the market once more. If this happens, a breakout above the $2 point and toward the previous all-time high will be in play.

As for fundamentals, ADA is also showing positive signs. Elon Musk’s comment on the environmental sustainability of Bitcoin caused investors to move into several proof-of-stake assets, and ADA got a piece of that. CoinShares reported that investors saw $10 million worth of ADA products in the week ended May 24. That could signal even more hunger for the burgeoning asset.

3. Buy Aave (AAVE)

The DeFi sector has been holding firm amid the downturn. Data from DeFi Pulse shows that assets locked in all protocols stand at $67.92 billion – a 23 percent drop from the all-time high of $88.90 billion seen on May 12.

AAVE price charts June 7

With the DeFi sector holding strong, it’s no surprise that a DeFi token is in our list of best cryptocurrencies to buy. AAVE is the in-house token for Aave – the top lending protocol and highest-ranked overall protocol in the DeFi space. The asset’s price has taken a bit of a beating, dropping from $664 on May 18 and bottoming out at $229 on May 23.

Currently, AAVE trades for $384.18. That is a 67 percent gain in the past two weeks. The sentiment surrounding AAVE is relatively confident, especially since Aave remains a shining beacon in DeFi. Aave surged to the top of DeFi protocols by total volume locked(TVL) last week, with funds locked blowing past $20 billion.

4. Buy Dogecoin (DOGE)

Dogecoin has had a bit of a rollercoaster ride. The meme-inspired cryptocurrency shot to the top of CoinMaarketCap’s rankings and is currently the sixth-ranked cryptocurrency.

The rollercoaster ride for DOGE started with social media hype – as it always does. Elon Musk, Tesla’s CEO and the world’s most famous DOGE enthusiast, appeared on Saturday Night Live on May 8, and anticipation for the appearance shot DOGE to an all-time high of $0.75. Sadly, duds in Musk’s performance led to a flatline, and DOGE soon began trending down.

Dogecoin price charts June7

Tesla made its announcement the next week, and DOGE was one of the top assets to suffer losses. When the dust cleared, DOGE had lost 70 percent of its value and bottomed out at $0.223 on May 19. With a current price of $0.373, DOGE has done a relatively good job of rebounding.

The asset got as high as $0.43 last week, but a sharp downturn affected it – as well as other large-cap assets. Musk has continued tweeting DOGE memes, and long-time believers continue to hold the asset as they believe a price surge could soon be on the way.

5. Buy Solana (SOL)

SOL is the token for Solana – a blockchain platform that supports high-performance decentralized applications. It makes our list of cryptocurrencies to buy as its fundamentals are very strong. The asset did its best to weather the storm of last month’s downturn, with its price drop starting on May 18 – much later than most other cryptocurrencies. SOL dropped from its high of $58.16 on the day and bottomed out at $20.20 on May 24. With a current $43.69 price tag, SOL is working to get back into the bull market.

Solana price charts June 7

Bears have so far tried to stall the asset’s growth, keeping it below the $45 mark so far. However, they’ve failed to plunge SOL’s value below the 20-day EMA of $36.39. This indicates that market sentiment is favoring SOL.

In terms of fundamentals, SOL is also looking strong. The Solana Foundation partnered with investment firm ROK Capital to launch the Solana Eco Fund – a $20 million fund that will spearhead the blockchain’s expansion to Asia. Last month, the foundation also inked partnerships with OKEx and MXC to launch two investment funds – valued at $40 million – to help it bring more of its decentralized applications and protocols to market.

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Source: https://insidebitcoins.com/news/5-best-cryptocurrencies-to-buy-as-the-market-finds-its-bottom

Blockchain

30-Year-Old Entrepreneur Josh Riddett Uses Cow Waste to Mine Bitcoin

The topic of bitcoin mining is a controversial one as of late given the alleged carbon footprint it leaves behind, though one man feels he may have found a probable solution. 30-year-old Josh Riddett – the managing editor at Easy Crypto Hunter in Manchester, England – claims he has found a way to extract crypto

The post 30-Year-Old Entrepreneur Josh Riddett Uses Cow Waste to Mine Bitcoin appeared first on Live Bitcoin News.

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The topic of bitcoin mining is a controversial one as of late given the alleged carbon footprint it leaves behind, though one man feels he may have found a probable solution. 30-year-old Josh Riddett – the managing editor at Easy Crypto Hunter in Manchester, England – claims he has found a way to extract crypto from the blockchain utilizing cow manure.

Josh Riddett Is Finding Greener Ways to Mine Crypto

Bitcoin mining has been a hot topic recently, with many environmentalists saying it does irreversible damage to the Earth’s atmosphere. Reports have been issued claiming bitcoin mining has as big a carbon footprint as the city of Las Vegas, Nevada, while others claim that the process requires more energy than certain countries such as Iceland and Argentina.

Many institutional investors have thus turned away from bitcoin due to questions surrounding the mining process. Tesla CEO Elon Musk, for example, has rescinded his decision to accept BTC payments for any Tesla-based goods and services, while Kevin O’Leary of “Shark Tank” fame says he will no longer buy bitcoin mined in China given that it still utilizes coal and standard fossil fuels to extract new units.

All this does not place bitcoin or BTC mining in the best light, but Riddett is confident his way is greener, fresher, and better for the atmosphere. In a recent interview, he explains:

Years ago, farmers were encouraged to develop green energy solutions, which is one of the reasons why we have seen solar panels appear in fields over the last ten years, and these schemes came with good financial incentives. More recently, those incentives have dwindled to virtually zero, but our machines are now providing those incentives.

Riddett is tasked with operating a large mining system that utilizes methane from cow waste. This methane powers the several “computer graphics cards” that go into the mining machines. In addition, the company also utilizes several wind and solar-based generators to establish the energy needed to mine new units of bitcoin.

Despite the strength of the company, Riddett claims he has very little knowledge regarding how it all works. At the end of the day, he is the business owner, but could not even write “a single line of code” per his own words. He states:

I have always been business minded, but I am not a tech nerd. I just had months and months of studying the market to learn about cryptocurrency and blockchain while having lots of late nights watching YouTube videos about it.

Things Couldn’t Be Cleaner…

In the end, however, he confidently mentioned in his interview that the work he is doing “could not be greener. He says:

When we started this business four years ago, green energy was not on our customers’ radar, but now it is approximately 40 percent of our business, and growing every day.

Tags: Bitcoin Mining, cow manure, Josh Riddett Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/30-year-old-entrepreneur-josh-riddett-uses-cow-waste-to-mine-bitcoins/

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Blockchain

You Already Have More Than Enough Bitcoin: Peter Schiff Tells Michael Saylor

After Michael Saylor said his company would raise another billion to buy more bitcoin, Peter Schiff called him “truly insane.”

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Michael Saylor’s initiative to continue buying more and more bitcoins makes no sense, argued the full-time BTC basher – Peter Schiff. Following the latest development coming from MicroStrategy, in which the company outlined plans to allocate another $1 billion in the asset, the prominent economist called Saylor “truly insane.”

Schiff to Saylor: Truly Insane

If you have followed the cryptocurrency markets even vaguely in the past year, two names should be popping out as the most vocal commentators. On the side of the naysayers stands the popular economist and gold bug – Peter Schiff. On the side of the proponents sits the founder and CEO of MicroStrategy – Michael Saylor.

The two have engaged in quite a few verbal confrontations on the difference of opinion on bitcoin. The latest one came out yesterday after Saylor’s software giant revealed plans to initiate a new securities offering to raise $1 billion. The firm intends to allocate this considerable amount into bitcoin, as it has done in the past.

This is where the BTC critique stepped up. In his opinion, such actions have made Saylor “truly insane.” Schiff believes MicroStrategy already has “more than enough” exposure to bitcoin, and if the asset turns out to be as successful as Saylor hopes, he would have made “all your shareholders rich.”

Schiff further alleged Saylor in buying more BTC only to “keep bitcoin from crashing” instead of actually doing something positive for shareholders and investors.


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What Has MicroStrategy Done So Much?

With Schiff claiming that MicroStrategy already has plenty of bitcoins in its stack, it’s worth reviewing how big that stash is and what have the company and its leader done for the community.

Although it became evident to the public that MicroStrategy bought BTC in August 2020, the origin of the story can actually be found a few months earlier. As Saylor revealed during the recent Bitcoin Conference in Miami, he started educating himself on the asset’s qualities after the COVID-19 pandemic infiltrated the Western World in early 2020.

His personal first purchase transpired on June 3rd that year. His firm, though, kept on accumulating after August and currently holds over 90,000 coins. Should the company proceed with raising $1 billion and putting it in BTC again, its stack could go well beyond 100,000.

Separately, the firm held a Bitcoin conference for corporations, became a node on the BTC network, and started paying non-employee directors in the primary cryptocurrency instead of cash.

Saylor also released an educational panel on BTC aimed at retail investors and has openly praised the asset on all traditional media outlets he has attended. And, all of this transpired within a year.

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Source: https://cryptopotato.com/you-already-have-more-than-enough-bitcoin-peter-schiff-tells-michael-saylor/

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Blockchain

PARSIQ Raises $3M in Strategic Venture Round Joined by Solana, and Others

[PRESS RELEASE – Tallinn, Estonia, 15th June 2021] PARSIQ, the blockchain monitoring, and workflow automation platform has raised a $3M Series A round from leading venture investors in the cryptocurrency ecosystem. The round was backed by Solana Foundation, with additional participation from, Mindworks VC, Axia8 Ventures, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures […]

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[PRESS RELEASE – Tallinn, Estonia, 15th June 2021]

PARSIQ, the blockchain monitoring, and workflow automation platform has raised a $3M Series A round from leading venture investors in the cryptocurrency ecosystem.

The round was backed by Solana Foundation, with additional participation from, Mindworks VC, Axia8 Ventures, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures and others. Evan Cheng, Director of Research at Facebook’s Novi Financial (formerly Calibra), has contributed to the round as an individual investor. The venture round marks the first time that PARSIQ collected funds from institutional investors, having been previously entirely funded through a public token sale in 2019.

The venture funding round has been devised to obtain new strategic partners and better position PARSIQ in the cryptocurrency ecosystem, offering major players a stake in the project’s success. PARSIQ will work with the new investors on product development, go-to-market strategies, and marketing, benefiting from the partners’ expertise and position in the market. In particular, PARSIQ will collaborate with the Solana Foundation to bring its Smart-Triggers to Solana ecosystem projects, allowing them to easily read and respond to blockchain data without having to develop custom solutions. PARSIQ currently supports major blockchains like Bitcoin, Ethereum, as well as Solana, Binance Smart Chain, and others.

“We are excited to have received the support of this diverse and highly regarded set of crypto ecosystem participants,” said Tom Tirman, CEO of PARSIQ. “While our runway was more than sufficient from our earlier raise, we felt that to guarantee the success of our project, we needed additional support from major players. With their help, we will be able to mount the strongest marketing and development push for PARSIQ yet.”

Anatoly Yakovenko, CEO of Solana Labs. “Having reliable and simple access to blockchain data on Solana means that projects building on our platform will have fewer headaches in building out their stack, allowing them to concentrate on their product, and PARSIQ is positioned to help bridge the off-chain and on-chain world.”

About PARSIQ

PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.

About Solana

Solana is a high-performance Proof of Stake (PoS) blockchain focused on delivering scalability without sacrificing decentralization or security.

Solana unlocks concurrent GPU-parallelization for the first time, using Proof of History (PoH), a clock before consensus, delivering high speed, low latency, and inexpensive transactions, all at layer 1 without sharding.
Developed by a team of former Qualcomm, Apple, Intel, and Dropbox engineers, Solana is stewarded by The Solana Foundation and is advanced by a loyal community of decentralized developers around the world.

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Source: https://cryptopotato.com/parsiq-raises-3m-in-strategic-venture-round-joined-by-solana-and-others/

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Blockchain

Next-gen DeFi Token Launchpad Lemonade Announces DePo IDO Public Sale

[PRESS RELEASE – Singapore, Singapore, 15th June 2021] After the successful STAK token sale, Lemonade to hold its first IDO launch, DePo on June 17, 2021 Lemonade, a DeFi token launchpad governed by the Jigstack DAO, is excited to announce the IDO of DePo. The DePo whitelist process starts June 17, 2021, whereas the public […]

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[PRESS RELEASE – Singapore, Singapore, 15th June 2021]

After the successful STAK token sale, Lemonade to hold its first IDO launch, DePo on June 17, 2021
Lemonade, a DeFi token launchpad governed by the Jigstack DAO, is excited to announce the IDO of DePo. The DePo whitelist process starts June 17, 2021, whereas the public sale final date will be disclosed in the coming days.

DePo streamlines the crypto experience for users. It aims to be the first multi-market aggregator in the decentralized finance ecosystem.

DePo offers a unified interface where users can easily connect to all crypto exchanges, NFT marketplaces, decentralized protocols, ERC20 wallets, and staking platforms.

Considering there are more than 600 crypto exchanges and 10,000 cryptocurrencies, it has become a time-consuming endeavor to switch between different exchanges and currencies manually.

A unified interface will not only save users time but also make it easier for non-crypto people to join the crypto ecosystem.

Users who own Jigstack’s STAK tokens will be able to participate in DePo’s IDO through a three-tiered system. The more STAK a user holds, the more access he has to participate in the IDO.

On Lemonade, the STAK token holders get access to unique opportunities such as the DePo IDO. They can buy newly issued tokens before their public listing on larger exchanges.

Since the STAK IDO, Jigstack has further refined the Lemonade launchpad and added new functionalities including the ANTI-bot.

The ANTI-bot blacklisting schema attaches directly to the campaign. It gives the token issuer a buffer time between the sale and claim period to block out the bots, suspicious users, and correct any accidental blacklists. The collected ETH will be sent to the IDO owner, but the bot will not be able to claim the tokens.

ABOUT LEMONADE

Lemonade is a DeFi token launchpad that allows token issuers to raise funds without having to deal with complex setups or involve exploitative intermediaries. It offers permissionless, hands-free automation, and a customizable sales structure to ensure a seamless user experience.

Lemonade is governed by the Jigstack DAO. Jigstack is an Ethereum-based DAO that governs a portfolio of high-quality products. STAK is Jigstack’s governance token, which can be used to manage Lemonade and other Jigstack protocols.

Find out more about Lemonade:

Website: https://lemonadefi.com/

Twitter: https://twitter.com/lemonade_defi

Telegram: https://t.me/Lemonade_DeFi

Medium: https://medium.com/@Lemonade_DeFi

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Source: https://cryptopotato.com/next-gen-defi-token-launchpad-lemonade-announces-depo-ido-public-sale/

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