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Bitcoin Hits $24,000k amid FOMC Monetary Policy on Inflation

By
Paul Ugbede Godwin
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0

While everyone is waiting for Federal Open Market Committee [FOMC] Meeting and Jerome Powell’s speech, a bullish cypher pattern currently played out on Bitcoin and most Crypto coins are all in the green, BTC hit an ATH of $24,196 from its $23,000 range early hours of Thursday, signaling a bullish trend on the Cryptocurrency market.

Analysts opines that the inflows of Institutional funds up till the FOMC outcome were some factors which led to the recent spike in trading volumes. However the outcome of FOMC meeting did not affect the over one month bullish chart of Bitcoin, Ethereum and some other fundamental Altcoins.

Just before FOMC meeting, the vix began to trek higher. Then just as Powell took to podium – just like all other times – the jFed or jPan did a swap, and then stonks mooned.

Before end of after hours, another swap – $DYX is now trading in the 100s and i count 2 other swaps, you have to notice the magnitude of the move on the gold/platinum kludgy inflation marker — USD got weaker, so inflation roared, inflation in USD, made stonks to pump.

The Committee [FOMC] seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent.

The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time. In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.

In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

The implications of the FOMC meeting on the Crypto Industry was not expected to drive the market in reds, as Bitcoins don’t consolidate much with inflation signals, the Federal Reserve raised interest rates by 25bps. This was expected by the market makers and already priced in hence why NASDAQ and crypto is up right now.

FOMC meeting was pretty neutral for me, although Powell mentioning that disinflation is already in motion was bullish for the inflow of Institutional funds into Crypto and the increasing interest on CBDCs from Central Banks and Country’s will pave ways for massive Crypto adoptions in the coming months.

The Drum, the Fire and the Dancing Spirits in Egi Community, Ogba

By
Tiamiyu Ismail
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0

Several accounts about what the drum symbolizes in the African culture and African traditional religions have been written. The essence of the drum cut across entertainment, literature communication, therapy and spirituality etc. However, my lived experience of how a belief in the spirituality and the healing effect of the drum shaped a people’s reality was during my brief stay in Ogba.

I had been posted to a community secondary school in Obite, a village in Ogba/Egbema area of Rivers state, Nigeria, for my compulsory one year national youth service. The first air that touched me as I reported to my place of primary assignment in Ogba conveyed a feeling of a healing wound.

Ogba had seen worse days due to the high incidence of cultism and political crisis in the region. However, the crisis has reportedly subsided due to the proliferation of alternative security groups who use unorthodox approaches to combat crimes across most parts of the region.

Ogba is one of three towns that form the Ogba/Egbema/Ndonni local government also known as Onelga in Rivers state. Onelga land area is estimated between 950 and 1,620 sqkm. The region comprises many small villages and towns including; Omoku, where Onelga’s headquarter is situated, Egi, Erema, Akabuka, Obite, Obidi, Obogu etc.

Ogba villages and towns are characterized by a strong afinal bond and the region is known for its large deposit of crude oil which is largely tapped by the federal government and the multinational oil companies in the country. Current records shows that Onelga is the highest producer of crude oil in Rivers state and second in Nigeria.

Apart from its rich oil well, Ogba also has a good earth and modest weather condition favourable to Agricultural endeavours. And there is a magnificent interconnection of rivers, streams and swamps where the natives go to collect fishes and other sea foods. Almost every household has a cassava farm on which subsistence is largely dependent. The average Ogba child is well thought in the art and science of processing garri and preparing fufu, locally known as loiloi. The common food is Okazi leaf soup which the natives savour with each handful of a morsel of garri or loiloi.

The Egi clans and natives of Ogba are one of the few peoples in the Niger-Delta region who probably still live in the primordial past. Dissolutely unwilling to let go of the brilliance of their primitive construct to the incursion and wiles of modernity, the natives hold in high esteem their culture and guard very jealously their customs. For some of us who had come from the west and from the far north of the country, life in Egi could not be thought of as lacking in African ancestral heritage and spiritual essence.

One of my most cherished experiences in Ogba was the sight of the cultural exhibition of the natives during the Egwu Ogba. Egwu Ogba is an annual new yam festival held around August to celebrate peace and new harvest. The Egwu Ogba is a period the natives hold in high esteem and celebrate their ancestors and the proceeds of their communal labour exchange.

A cardinal ritual of the festival is the liting and throwing of the fire. The fire symbolizes peace, and it is believed that only a person sanctified as clean or a saint could be allowed to carry the fire during the festival. Before the D-day, some rituals must have been performed to appease the gods and to finalize the actual date of the festival. At the eve of the festival (abali ukugwu) everyone gathers at the hest of their compound to throw a light party until the following morning. This should set the mood for the D-day.

During the fire ritual, incantations and invocations are made to the gods so as the fire is burning all the evils and witches in the village burn along with the fire. After this rendition, the people sing and rally round the village, and then go to the cemetery at the back of the village to throw the fire.

The fire ritual is followed by masquerade rendition as well as dancing and wrestling contest which is considered to be usually dangerous. However, it is believed that the drummers present at the games play a significant role in protecting the lives of the athletes. It is thought that the drummers would normally tie chickens around their drums so as they are drumming and as the competition becomes stiffer no body gets to hurt or die.

The village king (Uchunha) with his council of chiefs appear in their regalia with their daughters in-law covering them with umbrella. Everybody sings, dance and merry as there are enough yam, fish stew and palm wine to relish.

Tekedia Capital Portfolio, Egoras, Has A Mission on Gas in Nigeria

By
Ndubuisi Ekekwe
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0

The world is having an energy transition. In Nigeria, gas is going to be part of the energy destination. Tekedia Capital portfolio company, Egoras, is leading that with many products which are powered by gas. We’re retrofitting factories and production lines with systems which make them run on gas instead of diesel. The Egoras generator broke a sales record last month.

We acknowledge the support of the National Gas Expansion Programme. We thank the Ministry of Petroleum Resources for uncommon support to our mission.  Our factories will serve Nigeria and Africa.

Do you have a factory line which depends on diesel? Egoras can get it to run on gas. And with our cooking gas partners, you can focus on your business and leave fuel scarcity alone.

To learn more about Tekedia Capital, go here . For Egoras, here.

Hydrocarbon continues to rule even as transition to other sources of energy is planned: “Shell has become the latest oil giant to post a record annual profit, helped by soaring energy prices. The oil major was boosted by its liquified natural gas business as Russia squeezed pipeline exports, leading to its highest profit in its 115-year history. The news follows banner results from Exxon Mobil and Chevron Corp., with the sector taking off just as many are hit by a cost-of-living crisis caused in large part by high oil and gas prices.

UK Government Celebrates Nigerian Railway Heritage

By
Tiamiyu Ismail
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0

The United Kingdom (UK) Government has been said to have lauded the Nigerian railway heritage in Lagos as a major landmark showcasing the progress of ongoing promotion of UK-Nigeria shared heritage in the railway sector.

The Vanguard reported that an exhibition of photographs from The Heritage Project which held on January 31 and was declared open by the Nigeria Railway Corporations (NRC) Managing Director, Mr Fidet Okhiria, featured a workshop hosted by the UK British Deputy High Commissioner in Lagos, Ben Llewellyn-Jones, for the transport and the heritage sector stakeholders including mobile operators, academics, policy makers and UK British business groups in Nigeria.

Llewellyn-Jones was reported to have said in a statement that the programme was meant to showcase the collaborative project between the NRC, Oxford University and Heritage Group Legacy 1995, which runs the railway museum at Jaekel House, Ebute-Metta. The statement reads partly as follows:

“I am delighted to be here with other distinguished speakers, participants and volunteers to strengthen the discourse on the UK-Nigeria heritage collaboration project.

“To also discuss on how this rich history of British-Nigerian heritage can be approached collaboratively in parallel projects and arenas.

“The digital heritage project which has used UK research funding to work with partners in Nigeria is designed to document and record railway history in ways which are local to each area of Nigeria.

“We are glad this is happening at a time when Nigeria is redeveloping its rail networks.”

Llewellyn-Jones who described the programme as a means of discussing and exploring opportunities in the railway and transport sector as well as promoting stories of interests for social impact and economic development noted that the project leveraged UK research funding to work with partners in Nigeria who were interested in depicting their own heritage in the digital era.

”You can see the NRC, Non-governmental organisations, academics and the public collaborating to really localize the international story of the railways in their own communities, Llewellyn-Jones said.

According to the Vanguard, the UK-Nigeria heritage rail project collaboration which was highly praised by a cross-section of dignitaries at the programme was reported by the News Agency of Nigeria (NAN) to be funded by an Impact Acceleration Account from the UKs Economic and Social Research Council, through Oxford Universitys Institute of Cultural and Social Anthropology.

“Impact acceleration funding allows UK research institutions to work with partners from all sectors to apply social sciences knowledge to challenges in the industry.”

Litecoin (LTC) and Ethereum (ETH) Find Support In Market Revival As Whales Accumulate Shining Orbeon Protocol (ORBN)

By
TI Partners
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0

At present, many cryptocurrencies are performing in the green zone, making it a favorable time to invest. If you are also thinking of doing the same, you will want to make an informed and profitable decision.

Litecoin (LTC), Ethereum (ETH) and Orbeon Protocol (ORBN) are the three tokens that investors are considering. But Orbeon Protocol (ORBN) has emerged as the winner in the crypto community, after posting a growth rate of 1400% during its presale phase.

>>BUY ORBEON TOKENS HERE<<

Litecoin (LTC) Sees Sudden Price Appreciation

One of the most popular cryptocurrencies, Litecoin (LTC), provides fast, safe and low-cost payments. Litecoin (LTC) has witnessed a consistent rise and drop in its price in the last few weeks. It was because the year 2022 was difficult for most cryptocurrencies, including Litecoin (LTC). However, Litecoin (LTC) has started 2023 on a high note.

The price of Litecoin (LTC) has hiked from $70 to $75 in just two weeks. Notably, the price of Litecoin (LTC) increased by around 8% in the last week. Currently, Litecoin (LTC) is being traded at $92.28, which is 22.35% below its all-time high of $412.96. With such a promising growth trajectory, investors expect 2023 to be a propitious year for Litecoin (LTC).

>>BUY ORBEON TOKENS HERE<<

Whale Transactions on Ethereum (ETH) Increase

As the market has shown some signs of revival, whale transactions on the Ethereum (ETH) network have witnessed a significant surge. As per an on-chain analytics firm, Santiment, Ethereum’s (ETH) whale transactions “have shown nice momentum.” According to Santiment, Ethereum (ETH) whale transactions are defined as transactions that have a value between $100,000 and $1 million. The increase in the number of whale transactions has resulted in an appreciation in the price of Ethereum (ETH).

The price of Ethereum (ETH) has witnessed a considerable rise in the last week. Ethereum’s (ETH) price has appreciated by 6% in the last seven days. Currently, Ethereum (ETH) is being traded at $1564.45, which is 31.98% below its all-time high of $4891.70.

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN) Getting More Promising Day-by-day

Orbeon Protocol’s (ORBN) growth run during the first four phases of its presale round has made its fifth phase more attractive and beneficial. Orbeon Protocol (ORBN) has become one of the best blockchain investment platforms, catering to the needs of real-world companies. The platform helps promising startups raise funds and assists investors in becoming venture capitalists with a meager amount. Orbeon Protocol (ORBN) has several usabilities for both investors and startups.

Orbeon Protocol (ORBN) mints equity-backed NFTs for nascent, but growth-oriented companies. These NFTs represent the equity of companies that are trying to raise capital. Orbeon Protocol (ORBN) allows investors to put their money into promising companies through these fractional NFTs. Companies can use Orbeon Protocol’s (ORBN) NFTs-as-service (NFTaas) as it enables startups to raise capital through crowdfunding seamlessly. Orbeon Protocol (ORBN) mints NFTs only for those real-world companies and projects that perform convincingly. Since Orbeon Protocol (ORBN) mints fractional NFTs, users can make investments for as low as $1.

Orbeon Protocol (ORBN) also protects users from scams during the fundraising process. The platform has a “Fill or Kill” safety mechanism, which ensures that all participants get their invested money back if companies fail to raise the minimum capital during the investment process. This safety protocol is embedded into the platform’s smart contract to make it tamper-proof.

During the first four stages of its presale phase, Orbeon Protocol’s (ORBN) growth rate was more than 1400%, and the fifth phase looks more convincing. The current trading price of an ORBN token is $0.06. It is highly anticipated that ORBN tokens will rise by a minimum of 6000% before the end of its presale phase, and get to $0.24.

Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register

Telegram: https://t.me/OrbeonProtocol

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