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Home Blog Page 2898

Nigeria’s Consumer Watchdog Must Do Its Job on Banks

By
Ndubuisi Ekekwe
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0

Consumer watchdog of the nation (Federal Competition & Consumer Protection Commission), please do your job. That some banks are changing their software or whatever must not push customers to this level of stress. Understand that some of these banks did not give customers any notice. Yes, they do have our emails and phone numbers but did not inform customers ahead of the migration.

This is where we expect you to fight for the citizens, and not just on the pricing of DStv and GOtv. If people do not have access to their funds, do you not understand that it is a near-calamity for many? Please fight for these customers and make it clear to these banks that you will fine them, and get compensation for the customers. If you open that playbook, banks will do this right next time. But this attitude of locking people out of their funds cannot be accepted as a new normal.

In our bank, since Friday, we have been unable to receive payments even though the originating bank accounts were debited. Also, we cannot pay out because the system is broken. Are we modeling the cost of this mayhem on the economy?

Get me right: there is no excuse why banks should declare billions of Naira as profits, and cannot invest in real-time mirror-replicating server systems to make this migration more efficient.  Do not accept excuses, make a statement via a big FINE so that this nonsense will stop.

Best Crypto To Buy Below $1: Ripple (XRP), Lunex Network (LNEX) & Pepe (PEPE)

By
TI Partners
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0

In the crypto space, stories of “crypto moguls” are on the rise. Recently, one basketball coach quit his day job after becoming a crypto millionaire. He managed to do this just by buying below $1 crypto coins. Currently, three of them are making the most noise. These are Ripple (XRP), Lunex Network (LNEX), and Pepe (PEPE).

While many are familiar with XRP and PEPE, LNEX is a rookie now in phase three of its presale. However, it reached this stage in record time in just a few short days. Those who bought into it early are now enjoying a 25% return. Plus, experts predict another 40x surge for LNEX in 2025. Since it could revolutionize crypto trading, this price prediction looks pretty possible.

Ripple (XRP) Announces RLUSD Exchange Partners, Price Pumps

Ripple (XRP) is among the best tokens at the moment. CoinMarketCap shows that the Ripple value jumped nearly 3.48% on the weekly chart. Currently, this crypto currency is trading between $0.52 and $0.54.

This increase came thanks to some bullish Ripple news. Notably, Ripple announced its new RLUSD exchange partners. According to them, this new stablecoin will launch with the support of Bitstamp, Bitso, Uphold and Bullish. Meanwhile, crypto analyst Amonyx says that people should be ready for a potential surge in the Ripple coin value. Some experts predict a potential surge to $0.70 before this quarter ends in their Ripple price prediction.

Lunex Network (LNEX) Seen as a Promising Underdog

Lunex Network (LNEX) is also gaining some traction right now. Its ongoing presale has raised over $1M and may hit $1.5M before this month ends. Over 780M LNEX tokens have also been sold, showing big trader interest.

The LNEX token is the fuel behind the Lunex Network, an upcoming non-custodial crypto exchange that offers something new. On it, people can trade crypto currencies between different blockchains in total anonymity and at low costs. This will be done by removing all sign-up KYC checks. Not only that, but its ecosystem will also include a non-custodial payment gateway that lets businesses accept crypto coins as a payment method.

All of these components have excited countless traders. Those looking to support this project are now buying the LNEX token. This token will bring you discounts, governance voting rights and staking rewards. Currently, it costs just $0.0015 in phase three of its presale. But, experts are confident it may surge by 40x after a Tier-1 crypto exchange lists LNEX soon.

Pepe (PEPE) Looks Very Bullish Right Now

Pepe (PEPE) is another crypto coin that has seen some green on its price charts. In the past 30 days, the Pepe price has jumped around 45% per CoinMarketCap. Currently, Pepe’s value is moving between $0.0000077 and $0.000010. Market analyst Crypto Zeus has also made a bullish statement for this crypto currency. In his X post, he says that the Pepe coin looks very good right now and has a massive week ahead.

The technicals for Pepe crypto also show some positive signs. For instance, Pepe (PEPE) trades above its 10-day EMA of $0.00000993 and its 50-day EMA of $0.0000091. Because of all these factors, other market analysts have made a bullish Pepe price prediction. They forecast a potential increase to $0.00030 for the Pepe coin before this year ends.

What Could the Future Bring for Ripple (XRP), Lunex Network (LNEX) & Pepe (PEPE)?

There are still plenty of chances to become a crypto millionaire thanks to tokens like Ripple (XRP), Lunex Network (LNEX) and Pepe (PEPE). All of these crypto coins could skyrocket. However, analysts are more intrigued by Lunex Network as it brings something new. It may even become a dominant force in the crypto trading space. This market could be worth $45.3B, Statista projects, giving it far better long-term growth potential and stability.

Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!

Website: Lunex Network

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Crypto Buyers Guide: Analysts Piece Together The Steps To Follow When Buying Pumping Coins Such As: ADA, BCH, TURBO And CUTO

By
TI Partners
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0

The next crypto bull run remains highly anticipated as several analysts are scouring for altcoins with the potential for unprecedented price pumps. After so many speculations already made, analysts are finally predicting that these altcoins will follow a bullish momentum: Cardano (ADA), Bitcoin Cash (BCH), Turbo (TURBO), and Cutoshi (CUTO).

While most of these altcoins are already established with significant traction in the market, Cutoshi is only a newcomer, still in the presale market. However, due to its peculiar hybrid MemeFi ecosystem, this new gem is already set to knock over top meme coins in a 100x rally, especially putting into context its recent listing on CoinMarketCap.

Cutoshi Sets To Lead Meme Coin Gains As Its Platform Draws Massive Attention

Inspired by Satoshi Nakamoto’s Bitcoin’s core principles of decentralization, privacy, and monetary power, Cutoshi pioneers a new meme-backed DEX platform with extra DeFi features aimed at educational and lucrative activities. Meanwhile, Cutoshi didn’t sacrifice its cultural element, taking inspiration from the popular Chinese Lucky Cat known for good luck. This helps to foster a positive mindset among community members.

In particular, the Cutoshi DEX platform allows users to swap crypto assets across different chain networks. There’s also a farming mechanism where users can partake in community challenges and quests to win token rewards as well as complementary NFTs. Even better, Cutoshi takes a bigger DeFi-oriented step by integrating a learning academy in its ecosystem, specifically created to help propagate DeFi awareness.

Owing to its surging interest as a hybrid meme coin project, Cutoshi has successfully pulled almost $500k in its second presale stage. At the moment, the native $CUTO token is selling for $0.22 after securing a 46% ROI for early investors who bought the token when it was initially sold for $0.015 in the first presale stage. This positive price outlook, coupled with the token’s deflational attributes, sets Cutoshi up for exponential growth.

Cardano Price Consolidates To Lower Levels As It Sets For A Huge Price Resurgence

After falling from its highest price mark this year, just like most other top coins in the market, Cardano (ADA) mirrored a gradual fall to lower levels. To be precise, the price of ADA has dropped to a weekly price range of $0.3397 and $0.3696 from $0.77. Currently, ADA price is struggling to maintain a bullish trajectory as its monthly chart reflects a merely 4% increase as seen below.

Source: CoinMarketCap

Contributing to this sluggish momentum, Cardano network volume just recently dropped by over 9%. However, considering its active involvement in the DeFi market, Cardano price is set to see a revival in its network activity again, especially in the event that the next bull run takes place sooner.

As a superior DeFi giant with over $12B in market capital, the native ADA token is predicted to potentially lead top gains in the DeFi market especially as a potential recovery lurks after this current downward consolidation.

Bitcoin Cash Token Eyes $500 As It Take A Bullish Swing Above $360

Since early July, Bitcoin Cash (BCH) token has been relatively stable, trading with minimal price fluctuations. This stability was particularly evident following a bounce on August 5, which kept the price of BCH fluctuating between $290 and $366.

Additionally, Bitcoin Cash token has surged in value recording a nearly 18% monthly rise and over 13% weekly gain. Currently, BCH price has tested a weekly high of $376, after fighting to price back up from its $323 resistance level as seen in the chart below.

Source: CoinMarketCap

Meanwhile, Bitcoin Cash token is receiving positive sentiment and increasing interest at the moment as its moving averages on TradingView signals a very strong buy. This could mean an imminent resurgence for Bitcoin Cash price.

Turbo Coin Ranks Among Top Altcoin Gainers As It Makes ATH

Having secured over 106% gains in the past month, Turbo (TURBO) coin stands as the highest altcoin gainer in the past month. As a relatively new meme coin, Turbo coin still holds a bullish momentum for the year as its price just reached its highest level three days ago at $0.01318.

Source: CoinMarketCap

As seen in the chart above, most of the gains TURBO coin experienced before it attained an all-time high which was brought on by its weekly rise of over 59%. This surpasses its last ATH recorded at $0.00945 in May 2024.

While TURBO price has slightly consolidated below its new ATH, falling by 4%, analysts are optimistic about the mene coin’s potential to rank among top altcoin gainers this year. With its moving averages indicating a strong buy signal, investors are increasingly adding TURBO coins to their portfolio, while anticipating another ATH for Turbo price.

What Potential Does Cutoshi Have For Greater DeFi Gains Compared To Cardano, Turbo And Bitcoin Cash?

Cutoshi has a strong chance of surpassing Cardano in the DeFi space due to how it blends meme culture with educational and lucrative DeFi elements. In essence, Cutoshi attracts users who want to learn about DeFi while also making money. But this meme coin is more likely to experience exponential gains because of its fresh and untapped market potential.

Additionally, features like cross-chain swapping and reward-based challenges signal a more engaging experience for users. With its progressive presale and rising interest from investors, Cutoshi could become a serious player in the DeFi market, potentially providing greater returns than Cardano, Bitcoin Cash, and emerging cryptocurrencies like Turbo.

 

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member:

https://twitter.com/CutoshiToken

https://t.me/cutoshi

Bitcoin Mining Profitability Fell in September, Jefferies Says

By
Paul Ugbede Godwin
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0

In the dynamic world of cryptocurrency, Bitcoin mining stands as a critical process for the creation and transaction verification of the digital currency. However, recent reports from Jefferies, a prominent investment banking firm, have highlighted a downturn in the profitability of Bitcoin mining for the month of September. This decline is attributed to a complex interplay of factors that have affected miners across the globe.

The Jefferies report indicates a significant challenge faced by miners due to an increase in the network’s hashrate—a measure of the computational power per second used when mining—while the price of Bitcoin remained relatively stagnant. This imbalance between the rising costs of mining, due to the increased difficulty, and the lackluster movement in Bitcoin prices has squeezed profit margins, making mining less lucrative than in previous months.

North American miners, including industry leaders like Marathon Digital, have experienced a market share gain despite these challenges. However, with the network hashrate in October projected to be 11% higher and Bitcoin prices only seeing a marginal increase of about 5%, the outlook for mining profitability is not optimistic. The increasing hashrate suggests more competition and higher energy consumption, which could further tighten the already slim profit margins.

The report sheds light on the average revenue per exahash, a unit of measurement for mining power, which saw a decrease of 2.6% from August to September. This decline reflects the growing expenses that miners have to bear, from the cost of the mining equipment to the electricity required to run them.

Analysts Joe Dickstein and Jonathan Petersen from Jefferies project that the coming month could present even more headwinds for Bitcoin miners. The anticipated imbalance between the growth in Bitcoin’s price and the network hashrate could lead to a continued deterioration of profit margins for mining companies.

The price of Bitcoin is directly proportional to mining profits. Miners earn block rewards for validating transactions, and these rewards are more valuable when Bitcoin’s price is high. However, bear markets can significantly impact profitability as the value of rewards decreases. The difficulty of mining adjusts approximately every two weeks to maintain a consistent rate of block production. As more miners join the network and the hashrate increases, the difficulty rises, making it harder to mine Bitcoin and potentially reducing profitability.

One of the most significant expenses for miners is electricity. The profitability of mining operations heavily depends on access to cheap and reliable power sources. High energy costs can quickly erode mining profits. The efficiency of mining hardware, such as ASICs and GPUs, also plays a vital role. More efficient hardware can generate higher profits, but it also comes with increased upfront costs. The balance between initial investment and operational efficiency is key.

Bitcoin halving events, which occur approximately every four years, reduce the block reward by half. These events can dramatically affect mining profitability by decreasing the number of Bitcoins earned per block mined. Beyond electricity, miners must consider other operational costs, including hardware maintenance, cooling, and facility expenses. Efficient management of these costs is essential for maintaining profitability. Legal and regulatory changes can influence mining profitability by affecting operational costs, tax implications, and even the legality of mining activities in certain jurisdictions.

The situation is a stark reminder of the volatile nature of cryptocurrency mining and the factors that can influence its profitability. From technological upgrades and increased miner participation to energy availability and market saturation, a multitude of elements come into play, affecting the delicate balance of the crypto mining ecosystem.

As the industry navigates through these turbulent times, the Jefferies report serves as a crucial analysis for investors and miners alike, providing insights into the current state and potential future of Bitcoin mining profitability. The coming months will be telling, as the community watches to see how these trends will unfold and what impact they will have on the broader cryptocurrency market. For now, the September slump in Bitcoin mining profitability stands as a testament to the ever-changing and unpredictable nature of the crypto world.

Stripe acquires Stablecoins Platform Bridge for $1.1B

By
Paul Ugbede Godwin
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0

In a landmark deal for the fintech and cryptocurrency sectors, Stripe, the payment processing behemoth, has acquired the stablecoin platform Bridge for a staggering $1.1 billion. This acquisition is not only Stripe’s largest to date but also marks one of the most significant consolidations in the crypto industry’s history.

Stripe, valued at $70 billion as of July, has been a leading force in the payment processing industry, facilitating businesses worldwide to accept various forms of payments online. The acquisition of Bridge, a company founded by former Coinbase executives, represents a strategic move by Stripe to bolster its offerings in the stablecoin domain, which has seen exponential growth and interest in recent years.

Bridge’s platform, designed to rival traditional financial networks like SWIFT, offers businesses the ability to create, store, send, and accept stablecoins, positioning itself as a Web3 counterpart to Stripe’s services. The integration of Bridge’s technology into Stripe’s existing infrastructure could potentially transform the way businesses transact globally, offering a more streamlined, secure, and cost-effective method of handling payments.

The deal, confirmed by TechCrunch founder Michael Arrington, comes on the heels of Stripe’s announcement earlier this year to support global stablecoin payments. This move aligns with the company’s vision to expand its footprint in the digital currency space and provide more versatile payment solutions to its customers.

Here are some potential impacts this deal might have:

Increased Legitimacy: Stripe’s investment in a stablecoin platform could lend more credibility to the crypto sector, which has faced skepticism due to its volatility and regulatory concerns. A major player in the payment processing space embracing stablecoins can help normalize cryptocurrency transactions in everyday business.

Enhanced Stability: By focusing on stablecoins, which are pegged to traditional currencies and thus less volatile, Stripe could help bring stability to the crypto market. This could attract more businesses and individuals who were previously deterred by the unpredictable nature of cryptocurrencies.

Innovation in Payment Processing: The integration of Bridge’s technology into Stripe’s services could lead to innovative payment solutions that leverage blockchain technology, potentially reducing fees and transaction times while increasing security.

Regulatory Attention: This acquisition might draw more regulatory attention to the crypto industry, as governments and financial authorities may take steps to ensure that the integration of crypto into traditional finance does not pose risks to the financial system.

Market Consolidation: As large companies like Stripe acquire specialized crypto firms, the industry may see a trend toward consolidation, which could lead to fewer, but more robust and comprehensive, platforms.

Global Expansion: With Stripe’s global reach, the acquisition could help spread the use of stablecoins worldwide, facilitating international trade and commerce. Overall, Stripe’s acquisition of Bridge is likely to be a catalyst for growth and innovation in the crypto industry, potentially leading to more widespread adoption and acceptance of cryptocurrencies in the mainstream financial world.

The acquisition also follows Stripe’s integration of the Circle USD (USDC) stablecoin into its main payments’ user interface, a clear indication of the company’s commitment to embracing the stablecoin economy. With the implementation of the Markets in Crypto-Assets Regulation (MiCA) in the European Union, the relevance and appeal of stablecoins are set to increase, making Stripe’s acquisition of Bridge a timely and astute business decision.

As the fintech landscape continues to evolve, the merger of Stripe and Bridge signifies a pivotal moment that could redefine the future of payments and digital currencies. The implications of this acquisition extend beyond the immediate benefits to both companies, potentially setting a new standard for financial transactions in the digital age.

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