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Crypto June Forecast – HedgeUp (HDUP), Litecoin (LTC) and Ripple (XRP) Keep Crypto Market Alive

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As the cryptocurrency market navigates its way through June 2023, a trio of tokens stand as beacons amidst the volatility. HedgeUp (HDUP), Litecoin (LTC), and Ripple (XRP) are leading the way, demonstrating their resilience and ability to keep the crypto market thriving. Here’s what you need to know about these top contenders in the ongoing crypto race.

HedgeUp (HDUP) – The Rising Star

HedgeUp (HDUP) has made a significant splash in the crypto world with its asset-backed trading platform. The HedgeUp (HDUP) token is not just a speculative asset, but is backed by tangible real-world assets, giving it a stability that stands out in the volatile world of cryptocurrencies.

The platform provides a multitude of trading and investment options for HedgeUp (HDUP) holders. The utility and stability offered by HedgeUp (HDUP) have seen its popularity skyrocket, with the platform experiencing a recent surge of 300%. As a result, HedgeUp (HDUP) has proven to be a dominant player, offering security and growth potential in an unpredictable market. 

Litecoin (LTC) – The Reliable Performer

Litecoin, often regarded as the silver to Bitcoin’s (BTC) gold, continues to uphold its position as a trustworthy and reliable player in the crypto market. Boasting faster transaction confirmation times and a different hashing algorithm than Bitcoin (BTC), Litecoin (LTC) remains a popular choice among crypto enthusiasts.

This June, Litecoin (LTC) has proven its worth once again, showing steady performance even as other cryptocurrencies have been hit by price volatility. Investors appreciate Litecoin’s (LTC) track record and its robust technological underpinnings, both of which help the coin remain a key player in the digital currency space. 

Ripple (XRP) – The Dark Horse

Ripple (XRP), the company behind the Ripple (XRP) token, has been working tirelessly to revolutionize international money transfers with its blockchain technology. The company’s focus on providing a seamless, fast, and cheap way to transfer money across borders has seen Ripple (XRP) become a major player in the crypto market.

This month, Ripple (XRP) has been catching investor attention with its performance, maintaining its value even amidst market fluctuations. As the token continues to be adopted by various financial institutions, Ripple’s (XRP) progress shows that it’s more than capable of holding its own.

Conclusion

 As we progress through June, the combined efforts of HedgeUp (HDUP), Litecoin (LTC), and Ripple (XRP) are doing more than just keeping the market afloat; they’re helping it thrive. HedgeUp’s (HDUP) impressive growth demonstrates the potential that an asset-backed token brings to the table, while Litecoin’s consistent performance proves the value of a robust and mature crypto coin. Ripple’s continued growth, on the other hand, showcases how a token with practical use cases can remain strong in a fluctuating market.

While the crypto market as a whole is subject to wild swings and high volatility, the likes of HedgeUp (HDUP), Litecoin (LTC), and Ripple (XRP) provide a certain level of confidence to the space. Their diverse attributes – from HedgeUp’s (HDUP) asset-backed stability, Litecoin’s steady and reliable technology, to Ripple’s emphasis on real-world application – collectively offer a wide range of opportunities for investors.

As we continue through June, these tokens are likely to keep pushing the boundaries, influencing the market in their unique ways. With HedgeUp (HDUP), Litecoin (LTC), and Ripple (XRP) at the helm, the crypto market is far from merely surviving – it’s thriving.

 

For more information about HedgeUp (HDUP) presale use the links down below:

  • Website: https://hedgeup.io/
  • Presale: https://app.hedgeup.io/sign-up
  • Telegram: https://t.me/HedgeUpChat
  • Twitter: https://twitter.com/HedgeUpOfficial

The Big Academic Festival – Tekedia Mini-MBA –  has started

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We began yesterday. Yes, the big academic festival – Tekedia Mini-MBA –  has started.  My understanding is that everyone is ready and the WhatsApp Group is also becoming a temple for knowledge sharing. On Saturday, I will open the Live Zoom session with “Mission, Innovation and the Growth of Firms”. Then more; we have scheduled our Faculty members as follows:

– June 13 – Design Thinking and Innovation –  Aderinola Oloruntoye, SAP Africa

– June 15 – Lean Supply Chain Applications in Business – Chibueze Noshiri, NATO Luxembourg

– June 17- Ndubuisi Ekekwe

 

– June 20 – Business Strategy and Execution-  Eromosele Omomhenle. Microsoft USA

– June 22 – Developing Effective People Management System in Companies, Ibironke Tolu-Ogunpolu, Afterschool Careers Hub

– June 24- Ndubuisi Ekekwe

 

-June  27 – Human-Centered Product Design, Dr. Obinna Anya, Google USA

-ETC ETC

More than 120 faculty members, from some of the leading companies in the world will teach, live and offline, in this edition. It is going to be the best edition yet.

Welcome to Tekedia Institute, honoured by Velocity Mhagic as the best business school for entrepreneurial capitalism in Africa.

To join us, go here and register.

European Union Urges Online Platforms to Label Content Generated by AI, to Fight Disinformation

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The European Union (EU) has urged online platforms to label text, photos, videos, etc, generated by Artificial Intelligence (AI), to fight disinformation.

European authorities are worried about generative AI tools’ potential to spread disinformation, racist narratives, or deceptive advertising.

Vice President of the E.U. Commission Vera Jourova stated that the ability of the new generation of AI chatbots such as ChatGPT and Bard, to create complex content and visuals in seconds raises fresh challenges for the fight against disinformation.

The European Union is leaning on signatories of more than 44 tech companies that have signed up to the 27-nation bloc’s voluntary agreement on combating disinformation, to label false and other AI-generated content.

In remarks made yesterday following a meeting with the 40+ signatories to the Code, the EU’s values and transparency commissioner, Vera Jourova, said, tech companies that have signed up to combat disinformation should put in place technology to recognize AI content and clearly label it to users.

In her words,

“The new AI technologies can be a force for good and offer new avenues for increased efficiency and creative expression. But, as always, we have to mention the dark side of this matter and they also present new risks and the potential for negative consequences for society. Also when it comes to the creation of and dissemination of disinformation.

“Advanced chatbots like ChatGPT are capable of creating complex, seemingly well-substantiated content and visuals in a matter of seconds. Image generators can create authentic-looking pictures of events that never occurred. Voice-generating software can imitate the voice of a person based on a sample of a few seconds. The new technologies raise fresh challenges for the fight against disinformation as well. So today I asked the signatories to create a dedicated and separate track within the code to discuss it.”

In further remarks during a press Q&A, the commissioner said the EU wants labels for deep fakes and other AI-generated content to be clear and fast, so normal users will immediately be able to understand that a piece of content they’re being presented with has been created by a machine, not a person.

She also specified that the Commission wants to see platforms implementing labeling now immediately.

The EU regulatory law is coming amidst mounting concerns about the potential abuse of A.I technology and the possibility that bad actors and even governments use it to produce far more disinformation than before.

Recall that last month, Denmark’s prime minister Mette Frederiksen used ChatGPT to write part of her speech to highlight the risks of artificial intelligence. After delivering the introduction part of her speech at the Danish parliament today, Frederiksen said, “What I have just read here is not from me. Or any other human for that matter. It was written by ChatGPT”.

Also, OpenAI CEO Sam Altman expressed his worries that the generative AI tools could be used for large-scale disinformation. Researchers on the other hand predict that generative AI technology could make disinformation cheaper and easier to produce for an even larger number of conspiracy theorists and spreaders of disinformation.

These concerns are heightened due to the growing integration of AI tools in several tech apps. Notably, most tech giants such as Meta, Google, and TikTok, amongst others are already signed up to the E.U. disinformation code, which requires them to measure their work on combating false information and issue regular reports on their progress.

Meanwhile, Twitter opted out last month in what appeared to be the latest move by Elon Musk to loosen restrictions at the social media company after he bought it last year. The exit drew a stern rebuke, with the vice president of EU Jourova calling it a “mistake”. She warned Twitter, which quit the Code of Practice last week, to expect more regulatory scrutiny.

Net Outflows From Binance US Arm Reaches $791 Million, as Crypto Investors Pull Out Funds After SEC Charges

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Crypto investors have reportedly raced to pull out funds from Binance’s U.S. arm in the last 24 hours, as the sum pulled out hits $791 million after SEC filed 13 charges against Binance.

Investors have reportedly withdrawn $1.65 billion worth of assets from Binance and $13 million from contested Binance’s U.S arm on the Ethereum blockchain after the charges were unveiled. Inflows totaled only $871.8 million and $11.53 million to Binance and Binance.US, respectively.

Recall that the Securities and Exchange Commission (SEC) on Monday had alleged in 13 charges that Binance artificially inflated its trading volumes, diverted customer funds, failed to restrict US customers from its platform, and misled investors about its market surveillance controls.

SEC alleged that Binance’s blatant disregard of the federal law enriched themselves by billions of US dollars while placing investors’ assets at significant risk.

Binance in a response to the SEC on Monday stated that there is “zero justification” for the lawsuit, that the SEC is trying “to claim jurisdictional ground from other regulators,” and that “any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong.”

Binance further stated that all user assets on its platform and Binance affiliate platforms, including Binance.US, are safe and secure, noting that the company will vigorously defend against any allegations to the contrary.

Following SEC charges Binance Bitcoin steadied after falling more than 5 percent yesterday, its worst daily decline since April 19. The world’s biggest cryptocurrency was last at $25,723, flat on the day but pinned near a more than two-month low.

Binance’s BB cryptocurrency, the world’s fourth-largest, fell 0,3 percent to a near three-month low of $277, after a 9.2 percent plunge on Monday, its worst daily fall since November.

Also, the biggest cryptos all fell following the charges levied against the crypto exchange. Bitcoin dropped by 5.9% on Monday, its largest single-day decline since March. Ethereum fell by 5.2% yesterday, its biggest one-day drop since April.

The suit also labeled certain tokens as securities that were traded on Binance’s platforms, prompting a slump in the prices of these tokens which include, Solana, Cardano, Polygon, Filecoin, Cosmos, Sandbox, Decentraland, Algorand, Axie, Infinity and COTI.

Also, with the above-listed tokens now designated as “unregistered securities”, it suggests that these assets now fall under the SEC’s remit, which means these assets are required to follow stricter rules. All this could make exchanges less eager to list such tokens for trading on their platforms, lest they run afoul of the SEC’s rules.

The lawsuit, which cited several practices, first marks the most significant step against a crypto company by the SEC in its sweeping crackdown on the industry this year.

This is the latest legal battle facing Binance, after it was sued by the CFTC (Commodity Futures Trading Commission) back in March, which also claimed that Binance had been evading regulators, as claimed overnight by the SEC.

Market analysts state that this is another blow to the crypto industry and the crypto exchanges of the world. It remains to be seen whether crypto loyalists as well as major industry players can overcome the tightening regulatory controls. For now, analysts disclose that the fact that Bitcoin prices haven’t plummeted, and is holding steady despite reaching their lowest levels since March, portends  the underlying faith and support for crypto.

The Emerging High Voltage Assaults on Bitcoin

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Bitcoin is soaring

Is there any reason to think that Bitcoin and its cousins will survive the high voltage assault from US and Canadian regulators. In the past, I had written that while cryptos could be decentralized (debatable though since mining is largely concentrated under few lords), the centralization of major exchanges implies that governments are still in control since exchanges need bank accounts to operate, and banks can only give those accounts, to only legally incorporated companies. 

Interestingly, only governments give business licenses and permits. In other words, via exchanges, governments can influence and “quasi-regulate” cryptos.

That playbook is what we’re witnessing right now. The Canadian government has unleashed high voltages and many players are being burnt. Binance is under the crosshairs of the United States government. And just like that, the gyrations continue.

Good People, do you think Bitcoin has a future in the land of dollars?

Bitcoin Sell-Off + Record Liquidations commentary by Leverage Trading

  • The recent crypto sell-off, which saw Bitcoin plummet from $26,809 to $25,388 in just over four hours, has resulted in a record number of leveraged traders being liquidated and incurring substantial losses.
  • During the past 24 hours, a staggering 108,997 traders have been liquidated, with a total liquidation value of $295.98 million.
  • One of the most notable liquidation events occurred on Bitmex, where a single order valued at $9.94 million was liquidated.
  • This sell-off marks the largest number of liquidated traders during a 24-hour period this year.
  • The crypto community sold their positions in panic after the United States Securities and Exchange Commission (SEC) sued Binance exchange and its CEO, Changpeng “CZ” Zhao on a 13-count charge for violating securities laws.
  • Those traders who suffered liquidations were trading highly leveraged derivatives contracts called perpetual swaps.

The impact was felt across various exchanges, as illustrated in the table below:

Source: CoinGlass