Bitcoin Roundup and Major News In the World of Crypto

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April 25, 2023

The Crypto Industry last weekend experienced a sharp decline in the price of Bitcoin the world leading decentralized digital asset and other major coins like Ethereum, Solana, Binance coin BNB slightly decline in price. Bitcoin started last week Monday with record high above $30,000 per BTC, Ether around the $1.8k zone and BTC currently trading at $27,450.

Some analysts anticipated such an outcome and even predicted a significant pullback. But is a strong pullback below $20,000 probable if those predictions are correct?

Here’s what we know so far based on recent data. The latest Glassnode alert revealed that the amount of Bitcoin supply that was active in the last two to three years just soared to a 2-year high.

This meant many individuals holding BTC had started moving their coins. Such an outcome suggests that many of them might be selling their coins in anticipation of higher sell pressure.

The bearish expectations also reflected the current state of the market. BTC just concluded a bearish week characterized by whale outflows.

Whales were trimming their balances since mid-April according to the addresses with balances equal to and greater than 1000 BTC.

Source: Glassnode

Meanwhile, futures long liquidations increased since mid-April but dropped off from 21 April. Why is this important? Well, the initial surge in liquidations may have fueled more sell pressure as leverage traders were forced to sell.

However, the drop-off in long liquidations indicated that sell pressure might slow down.

BTC exchange inflows have dominated compared to outflows since mid-month. Exchange outflows also increased, likely due to investors buying the dip. The rate of flow for both has been slowing down in the last two days.

Source: Glassnode

Interestingly, the latest exchange flow data revealed that BTC exchange outflows were slightly higher than inflows. This was a sign that demand was starting to outweigh sell pressure. But does this reflect the price action?

BTC price action

Bitcoin’s $27,557 press time price hovered above its 50-day moving average which may act as a psychological buy zone. But is a strong bounce-back possible at this point? Yes, but so is the possibility of an extended downside.

BTC has been trading within a support and resistance range. Its latest pullback since mid-April came after the price retested the ascending resistance line indicated in the chart below.

Source: TradingView

So, what should investors watch out for? A strong resurgence in demand for the 50-day moving average may signal a strong bounce back. Weak demand may pave the way for extended sell pressure.

The second outcome may encourage more selling which will eventually push toward the ascending support range. Such an outcome would lead to the next significant support retest near the $22,900 price range.

Exporting Products from Nigeria: Planning and Management – Tekedia Live

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Ndubuisi Ekekwe

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April 25, 2023

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At Tekedia Mini-MBA, we run one of the finest business schools for innovators, entrepreneurs and professionals in Africa. Today, we are going to discuss exports in Africa with specific focus on Nigeria. Our faculty is Mr. Export, Idris Mamukuyomi, CEO of Afriexporter. Zoom link in the Board.

Fun part: Mr. Mamukuyomi, a graduate of Tekedia Mini-MBA, is so excited to return as a Faculty. According to him, Tekedia Institute Mini-MBA transformed his perspectives and through those experiences, he has scaled his mission.

Tekedia Mini-MBA: learn from the best

RenQ (RENQ) vs HedgeUp (HDUP), Experts Believe They Will Be the Best 30X Presales in 2023

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TI Partners

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April 25, 2023

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It is the presale season in crypto. And as expected, the most promising projects are making the most out of it by continuing to attract investments.

RenQ (RENQ) and HedgeUp’s (HDUP) are the two projects that have been attracting the most investors. This is thanks to their incredible potential. In fact, experts believe that they could 30X, making them the best presales of 2023.

RenQ Finance (RENQ) Raises Over $14 Million in Ongoing Presale

RenQ (RENQ) Finance is a decentralized finance (DeFi) platform that has taken the space by storm. It’s highly successful presale has seen the platform raise $14.1 million in the ongoing presale of its token, RenQ (RENQ) . The presale’s success is down to the platform’s innovative features and potential for growth which have made it especially attractive to investors.

RenQ (RENQ) Finance is building a unified DeFi platform that will provide users with a wide range of DeFi services. Users will be able to take part in trading, staking, yield farming, lending, borrowing, and asset exchange on its decentralized exchange (DEX).

The exchange will be multi-chain. That way, the project hopes to connect isolated blockchains, allowing users to conveniently make cross-chain asset swaps. The RenQ (RENQ) token will be used for paying trading and transaction fees on the platform.

RenQ (RENQ) presale began in Q1 2023. It is currently in its sixth stage, where each RenQ (RENQ) is available at $0.050 per token. It has been an impressive run so far. The RenQ (RENQ) token has sold out at multiple stages and is expected to continue this run until the eighth and final presale stage. This will put it among the top-performing presales of the year.

Investors Continue to Show Confidence in HedgeUp (HDUP)

HedgeUp’s (HDUP) is an innovative DeFi project that has also been making waves in crypto. Although still in the early stages of its token’s presale, HedgeUp (HDUP) has attracted considerable attention from investors worldwide.

HedgeUp’s (HDUP) is building the world’s first Web3 alternative investment trading platform. The platform will allow people to easily invest in alternative assets like jewellery, artwork, beverages, and more. That way, they can diversify their investment portfolios beyond crypto assets.

These assets will be tokenized into NFTs that people can buy and sell on HedgeUp (HDUP)’s trading platform. The NFTs allow for fractional ownership of the underlying asset. Therefore, investors don’t have to spend a lot of money trying to own the whole thing.

According to the HedgeUp’s (HDUP) team, the project “enables everyday people to become investors through its groundbreaking NFT trading platform.”

It’s no wonder why the HedgeUp (HDUP) token has been doing so well in its presale. Currently in stage 2 of the presale. Well over 60 million tokens have been sold so far as investors rush to take advantage of the cheap price.

HedgeUp’s (HDUP) is selling the HDUP token at $0.013. Given the immense potential of the project, HDUP may 30X in the next bull run. Therefore, the best time to buy the token is now.

> Buy HedgeUp Now <<

For more information on HedgeUP click the links below:

Telegram Link: https://t.me/HedgeUpChat

Presale Sign Up: https://app.hedgeup.io/sign-up

Official Website: https://hedgeup.io

Tekedia Capital Demo Day Is Sat, April 29, 2023; Join Us And Co-Invest in World’s Finest Startups

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Ndubuisi Ekekwe

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April 25, 2023

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Good People, you’re all invited to Tekedia Capital Demo Day. We hope to support another class of great startups. Tekedia Capital has incubated startups which ended up joining YCombinator, Techstars, Seedstars, etc besides raising follow-up capital. And just yesterday, we had an exit call. In this cycle, we have 8 amazing startups; join us.

Date: Saturday, April 29, 2023
Time: 4pm – 6pm WAT
Venue: Zoom (member only)
Learn more and join our community here

Tekedia Capital offers a specialty investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organizations to co-invest in innovative startups and young companies in Africa and around the world. Capital from these investing entities are pooled together and then invested in a specific company or companies.

Membership Fee of $1,000 for 4 Investment Cycles

Pay for your 4-cycle membership fee. The fee provides access to 4 investment cycles of Tekedia Capital deal flow. We typically do 2-3 cycles per year (i.e. 12 months). After payment, our team will give you access to the deal flow board.

(If after 4 cycles, you can decide not to renew. Yet, you will continue to receive updates on your prior investments. But we will not provide access to new startup deal flows.)

A payment of $1,000 (or Naira equivalent ) is required to join. Learn more and join our community here

Pros and Cons of Crypto Mining

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Paul Ugbede Godwin

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April 25, 2023

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Crypto mining is the process of validating transactions on a blockchain network and creating new units of cryptocurrency. It is a crucial component of decentralized finance, as it ensures the security and integrity of the ledger. Crypto mining can be done by anyone with a computer and an internet connection, but it requires a lot of computational power and electricity.

There are different types of crypto mining, such as proof-of-work (PoW), proof-of-stake (PoS), and proof-of-authority (PoA). Each one has its own advantages and disadvantages, depending on the goals and design of the network. In this blog post, we will explore some of the pros and cons of crypto mining in general, and how it affects the environment, the economy, and the society.

Pros of Crypto Mining

Crypto mining rewards miners for securing the network and verifying transactions. This creates an incentive for people to participate in the network and contribute to its growth and stability. Crypto mining enables anyone to become a part of the financial system, without relying on intermediaries or centralized authorities. This promotes financial inclusion, innovation, and democratization. Crypto mining supports the development of new technologies and applications that leverage blockchain and cryptocurrency. For example, smart contracts, decentralized applications (DApps), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs).

Crypto mining can generate income for miners, especially if they have access to cheap and renewable energy sources. Some miners also use their earnings to invest in other crypto projects or support social causes.

Cons of Crypto Mining

Crypto mining consumes a lot of energy and resources, which can have a negative impact on the environment. According to some estimates, Bitcoin mining alone accounts for more than 0.5% of global electricity consumption and emits more carbon dioxide than some countries. Crypto mining can create market volatility and price fluctuations, as miners may sell their coins to cover their costs or take profits. This can affect the value and stability of the cryptocurrency and its network.

Crypto mining can pose security risks and challenges, as hackers may attempt to compromise the network or steal the coins. For example, in 2014, Mt. Gox, a major Bitcoin exchange, was hacked and lost 850,000 Bitcoins worth about $450 million at the time. Crypto mining can face regulatory uncertainty and opposition from governments and institutions that may view it as a threat to their authority or sovereignty. For example, in 2021, China banned crypto mining and trading activities in its territory, causing a significant drop in the global hash rate.

Conclusion

Crypto mining is a complex and controversial topic that has both positive and negative implications for the world. It is important to understand its benefits and drawbacks, as well as its potential future developments and challenges. As crypto enthusiasts, we should also strive to make crypto mining more sustainable, efficient, and accessible for everyone.

Meanwhile, one of the largest crypto exchanges is suing the US regulator.

Coinbase is suing the Securities and Exchange Commission, demanding a public answer from the regulator regarding a petition on whether it would allow the crypto industry to be regulated using existing SEC frameworks. The lawsuit is the “latest pushback the SEC has received in recent months,” says TechCrunch, as it cracks down on the industry, including on Coinbase, the largest U.S. cryptocurrency exchange. Last month, Coinbase received a Wells notice — a letter from the SEC that typically precedes the filing of federal charges. In its June 2022 petition, the company asked whether the SEC would “propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods,” to which it never got a response.

CEO Brian Armstrong recently said that Coinbase would consider moving its headquarters outside of the U.S.due to the lack of clarity around digital assets. Tech investor and “bitcoin bull” Chamath Palihapitiya believes “crypto is dead in America,” per CNBC.