Cryptocurrency exchange HashKey Exchange has been authorized to provide services to retail investors in Hong Kong

Cryptocurrency exchange HashKey Exchange has become the first company in Hong Kong. Which has been licensed under the region’s new licensing regime. And which allows cryptocurrencies to offer retail services.

HashKey has been granted Type 1 (securities transactions) and Type 7 (automated trading services) licenses. And can now serve retail investors in the region, the company said in a statement.

On April 27, the Hong Kong Monetary Authority (HKMA) issued a circular to banks to clarify the rules for opening accounts for cryptocurrency companies. The document clarifies how banks should conduct customer due diligence (CDD).

On June 1, 2023, Hong Kong introduced a new licensing regime for companies providing cryptocurrency trading services.

Our experts note that at the end of June, the Hong Kong unit of British bank HSBC allowed clients to trade shares of cryptocurrency ETFs. It was noted that the purchase of shares of four cryptocurrency exchange traded funds will be available to users through official trading applications.

Hong Kong’s first official crypto exchange HashKey Exchange will not provide services to users from 34 countries. Also including Russia, Iran, South Africa and Myanmar

The exchange does not restrict access to clients from the USA, Japan, China and a number of other countries. But on condition that they live in the territory of states where the circulation of digital assets is not restricted. They will have to confirm their location address and phone number during the verification procedure.

From the user agreement also became known that the processing of payments for the HashKey Exchange is engaged in the Asian division of the bank JPMorgan Chase. And one more partner bank will become ZA Bank in the future.

Today, let’s consider the idea of investing in four altcoins. Each of the presented options has a fairly high capitalization.

And volatile technical model and are real active projects. The assets are also traded on large centralized exchanges. So why invest in altcoins. And not to buy Bitcoin  or ETH? There are quite a lot of reasons, let’s highlight the main ones:

• Moving away from the classic concept of buying market leaders;
• Achieving more meaningful financial results due to volatile asset models;
• Portfolio diversification;
• Striving to “beat the market” in terms of returns;
• Some altcoins are near historical lows, which increases the calculated mathematical expectation of the transaction.

All of the above points lead to one goal – to increase portfolio returns by acquiring volatile assets.

Filecoin (FIL)

30th place by market capitalization. Up to 40% of the crypto portfolio. In 2023, the price approached the $2.3 multi-year lows twice. Each test of the level resulted in creation of trend source – market maker’s position to buy. The source consolidation level is $4.3 and is equal to current prices. From a technical point of view, this is a great time to buy the asset.

After the breakdown of the $9 level, the price will move into the global growth phase with the aim of reaching the locked volume (market maker’s position to sell) – $24. And then to the range of $35 – $41.5, where it is necessary to close the position.

Thus, the trade would look as follows:

• Buying at current prices ($4.4)
• Take Profit (TP) $35 – $41.5
• Stop Loss (SL) $2.2
• Expectation up to x10

VEChain (VET)

38th place by capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
This technical combination is the basis for the formation of a position in the asset with the main goal of reaching the locked volume of $0.076. Based on which, we can plan the trade as follows:

• Buying at current prices ($0.0186)
• TP $0.076
• SL $0.013
• Expectation x4

EOS (EOS)

52nd place in Crypto Market Capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
The technical picture of the asset differs from the previous ones. Mainly by the fact that the source of the trend is just forming in the market. And as a consequence, it is possible to form a position at the beginning of a growing cycle.

It is possible to enter the deal both at current prices ($0.744). And in case of decrease to the level of $0.69. It is also possible to consider a combined option – to enter the deal at current prices. And on the part of the capital allocated for this asset, and after the decrease to gain on the rest. Thus, it will be possible to utilize all allocated funds for this asset. And form a position with a low average purchase price.

After exceeding the level of $0.832, the source will be considered fixed. And the asset will move into the growth phase with the targets of $1.36, $2.75, $5.

The trade will be as follows:

• Buy at current prices
• Extra at the decrease to $0.69
• TP $1.36, $2.75, $5
• SL $0.48
• Expectation up to x6.7

Dash (DASH)

93rd place in capitalization. This is one of the altcoins that is suggested to buy up to 20% of a cryptocurrency portfolio.
At the moment, a trend source is being created. At this stage, a position with a low average purchase price can be formed.

Transaction structure:

• Purchases at current $31
• Additional at the decrease to $28.6.
• TP: $68, $126, $215
• SL: $20

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Our experts talk about the new trend in the crypto market and the associated risks of trading through Telegram bots

Trading bots in the Telegram messenger have quickly gained popularity among cryptocurrency traders. And those who prefer trading assets on decentralized exchanges (DEX). They are easier to use for quick and more precise trades. And skipping not the most user-friendly interface of blockchain-based trading platforms. However, the convenience of bots comes at the cost of trusting such bots with access to investors’ wallets.

Based on predetermined rules, having received a message, bots can recognize trading commands. And interpret them and then promptly execute trades on decentralized exchanges such as Uniswap. When first launched, the bot creates a wallet for the user. And providing him with access keys, after which funds need to be deposited into that wallet to start trading.

Bots also give a set of useful tools such as limit orders. And copy-trading (automatic copying of trades of given addresses) and so-called token sniping – tracking the appearance of new tokens on the Ethereum blockchain with automatic purchase. The bots have their own tokens, and rising prices are creating a speculative frenzy around them.

Unibot, launched in May this year, is considered the obvious leader in terms of the number of users and trading volumes

Its own token, UNIBOT, rose in value by more than 50% over the past week. And since its launch, it has increased in value almost 50 times. The demand for the token is supported by the fact that it must be held to pay trading commissions. However, 40% of these commissions are returned to users and are distributed proportionally to the number of tokens held by all owners.

The daily trading volume of the UNIBOT token at the time of publication exceeds $10.5 million, according to the aggregator CoinGecko. The site has a separate section for tokens of Telegram bots. And their list already numbers in the dozens – the developers are obviously trying to repeat the success of the pioneer and capitalize on the new market narrative.

Other popular bots include Swipe, WagieBot, Bolt and others. According to Dune Analytics, since May, more than 63,000 users have made transactions totaling about $193.7 million using bots, with Unibot accounting for the vast majority of the transactions. And more than $1 million in commission refunds have been distributed to bot token holders.

When making transactions on decentralized exchanges, users have to constantly log into their wallet. And check the correctness of information about tokens and face high commissions. At the same time, they still have full control over their own assets and do not need to entrust their wallet keys to a third party.

The appeal of trading bots is likely due to their ease of use compared to platforms. And which run on smart contracts. That said, users are forced to trust the wallets. And which are created inside the bots, with the condition that the bots have full access to them.

Safety and risks of Telegram bots

Despite the surge in popularity of trading bots. Security experts are critical of their approach to user assets.

In a comment to The Block, former Microsoft security chief Christian Seifert calls the emergence of trading bots in Telegram a “scary development.” And at the same time referring to their closed source code and the need to share wallet keys with them. In his opinion, this can be more dangerous than transferring funds to dubious crypto exchanges or to the addresses of unverified smart contracts. “In the second case, at least you can limit the level of access to funds. With bots, you are essentially just trusting them with your funds and hoping they won’t misappropriate them,” the expert cautions.

Yajin Zhou, co-founder of BlockSec, a blockchain security company. Similarly expressed similar concerns about the growing trend of bots on Telegram in a comment to reporters. He also talks about possible risks associated with the transfer of tokens to third-party wallets created by applications.

The high speed and ease of use of bots often comes at the cost of reduced security.

When such services automatically create a wallet for the user. There is a risk associated with permanently storing private keys inside the bot. If there is a data leak or a hack, it can turn into a disaster for bot users. After all, the bot developers themselves, often anonymous, can misappropriate user funds.

When a bot creates a wallet, it essentially creates a cryptographic key pair. The public key represents the address for incoming funds. The private key, gives access to those funds. This is what could potentially be the primary target of attackers. And who can easily withdraw assets from the wallet if it is compromised. On the other hand, if a user loses the private key without a backup, they will lose access to their assets.

Since private keys for wallets are not generated by users themselves. And their security is not always guaranteed, and this opens the door to abuse. He confidently says that in the future, unscrupulous bot developers will steal users’ funds.

Our experts note that if we draw parallels with past periods of excitement around memcoins or DeFi-tokens promising quick profits. Most of them turned out to be outright fraudulent projects. And that “countless investors” suffered.

The Aave project has launched a GHO token with a peg to the dollar exchange rate. We tell you how it works and how it can help popularize the sphere of decentralized finance

The Aave lending platform eliminates traditional intermediaries such as banks. And the service runs on the Ethereum blockchain and uses software smart contracts to automate lending and borrowing operations. Aave was founded in 2017 by Stani Kulechov, a Finnish entrepreneur with a legal and financial background.

A user-friendly interface and a number of innovative functional solutions have made Aave one of the leading DeFi platforms. The protocol allows users to earn interest on their crypto assets. And by investing them in so-called liquidity pools. From these pools, borrowers get loans. They pay interest on the funds. And that is shared between the lending users and the platform itself. Interest rates depend on market conditions and are set on the basis of supply and demand.

To work with Aave it is enough to have a cryptocurrency wallet with the function of signing transactions, such as MetaMask, and cryptocurrency to deposit into the protocol. Once deposited, there is an immediate opportunity to either lend the funds. And at the same time receiving interest, or to borrow some assets against their collateral. Borrowers have access to many assets, including the cryptocurrencies bitcoin (BTC) and Ethereum (ETH). As well as the largest by capitalization stablecoins – Tether USD (USDT) and USD Coin (USDC). Aave is now entering the territory of the latter, but is taking a slightly different approach.

Stablecoins linked to the dollar exchange rate are some of the most popular assets on Aave and other similar platforms

The most capitalized stablecoins are USDT and USDC, issued by Tether and Circle, respectively. Both coins are managed by centralized organizations. And which maintain reserves for their “stablecoins” in fiat currencies, gold, securities, and other assets. These reserves provide stability to the exchange rate. And the loss of that stability, even short-term, is considered an abnormal event for the market.

However, Aave’s own stablecoin, issued under the ticker GHO, is backed by assets backed on Aave. And is programmed so that its value on the Aave network is always exactly $1. This is another attempt by the crypto market to create less volatile cryptocurrencies that are not dependent on a centralized issuer.

Borrowers often pledge cryptocurrencies on Aave to borrow specifically stablecoins. Due to the lack of exchange rate volatility, they can be more convenient for payments than, for example, the same bitcoin.

There are already several decentralized (algorithmic) stablecoins on the market. The most capitalized of these is Dai (DAI), operated by MakerDAO, a credit DeFi platform that competes with Aave. Like Dai, GHO will not be issued by a single issuer. It will be managed by a decentralized autonomous organization (DAO) known as AaveDAO. And its issuance will take place in transactions on the lending platform. To oversimplify somewhat, it will actually be collateralized by collateral.

GHO platform stablecoin

The platform’s native stablecoin helps diversify [traditional] stablecoins. And that includes in the Aave protocol itself. As well as the GHO revenue generated by the interest. And charged to borrowers in the Aave protocol, will allow AaveDAO to allocate more funds to community participants. And including risk managers, developers and security experts.

Our experts say that GHO in its own way will help popularize DeFi as a non-volatile crypto asset. The company is also developing a social protocol called Lens. And it needs a network effect and interested users. On the basis of this protocol it is possible to build full-fledged analogs of existing social networks.

Our experts tell you what you need to know about Sam Altman’s blockchain project Worldcoin. And who supports it financially, and when it will have its own token

In addition to leading the development of ChatGPT and GPT-4. Sam Altman, head of OpenAI, is also a co-founder of Tools for Humanity. It creates technologies for the blockchain project Worldcoin. And its tokens will be distributed among users in a rather unusual way.

According to the developers’ plans, the future WLD token will be issued to those who will be identified by iris scanning. The company’s own device called Orb scans the eye. And based on that, creates a digital World ID for the user. And which can be used “in a wide range of everyday applications without revealing identity.”

About 2 million people are already expecting to receive their share from this airdrop of Worldcoin tokens

Airdrop was planned back in the first quarter of this year, but was later postponed. However, this project has big ambitions.

“Once launched, we will begin to rapidly expand market by market, connecting more and more people,” reads a presentation distributed to potential investors in the project late last year.

In May, the project said it had raised $115 million in an investment round. Which was led by Blockchain Capital, a venture capital firm focused on the crypto market. For it, this is the second largest investment package, second only to investments in Matter Labs, the developer of the zkSync solution.

Worldcoin as a project consists of several components

First is Tools for Humanity, co-founded in 2020 by Alex Blania, Max Novendstern and Sam Altman. Acting as the lead developer of the Worldcoin project. Tho the company has raised over $240 million to date from venture capital funds including Andreessen Horowitz (a16z), Tiger Global, Khosla Ventures and the venture capital arm of the Coinbase exchange.

Worldcoin is now valued at $3 billion at the end of its latest fundraising. This is the same amount as in March 2022, when the company raised the first $100 million. Previously, the project was funded by Khosla Ventures, crypto fund Andreessen Horowitz (a16z crypto) and the founder of the bankrupt FTX exchange Sam Bankman-Fried. Spencer Bogart of Blockchain Capital joined the board of directors of Tools for Humanity after the new investment round closed. And a16z crypto managing partner Chris Dixon has joined as an observer.

Sam Altman is the co-founder of Worldcoin. His main contribution to the project is to create a strategy for how best to scale it.

“Internally, we call it the Sam Altman effect,” Blockchain Capital’s Bogart wrote in a comment to The Block. “Focus on scaling. Everything else is irrelevant,” he quoted Altman as saying.

Structure and products of Worldcoin

Worldcoin also has a non-profit foundation, the Worldcoin Foundation, registered in the Cayman Islands. According to its website. It is engaged in “protocol support and development of the Worldcoin community until the community becomes self-sufficient”. The foundation is a step toward creating a decentralized autonomous organization (DAO) under Worldcoin. Worldcoin’s website states that the foundation is designed to “enable prioritization of the protocol based on DAO decisions.” Next steps, according to the description, include transferring intellectual property to the fund. And a grant program for developers.

As for the product, there’s World ID, an identification protocol. And with which people can prove their identity on the Web. It’s also a proprietary software creation package, the World app. Which allows you to manage the confirmed ID and a number of cryptocurrencies and, the actual token Worldcoin. All of these tools, with the exception of the token, appeared earlier this year.

A company called Tools for Humanity is responsible for the app. And it is likely that in the future it will earn on commissions on transactions or exchanges within the wallet. According to the company, by May this year, more than 500,000 people used the app at least once a month.

Black market accounts

Worldcoin’s chosen method of token distribution is that. People are asked to prove their identity by scanning their retinas with an Orb device. In March, Worldcoin struck a deal with manufacturer Jabil to ramp up production of its devices. According to The Block’s sources, Worldcoin could produce up to 400 Orb per month.

Worldcoin has an operator program where companies are paid in stablecoins. For performing eye scanning procedures on volunteers. So far, about 2 million people have joined the program. And mostly in Latin America, Africa, Southeast Asia and Europe. For example, in Kenya, by December last year, about 250 thousand people were registered. And only 45 devices were in circulation among operators in the country.

However, Worldcoin faced a black market of verified accounts. In May, there were reports that in China, where it is still impossible to register in Worldcoin. People are now buying iris scans taken in Cambodia and Africa for as little as $30. The buyers were probably expecting to get airdrop tokens. Which, when released on crypto exchanges, could return on their investment many times over.

The company then took a number of steps to try and address this issue. And including “adjusting the initial in-person registration process” and introducing dynamic and static QR codes.

Token and Airdrop

The token launch is a watershed moment for the project. Airdrop has already been postponed multiple times. A Worldcoin spokesperson told The Block that the exact launch date will be chosen by the Worldcoin Foundation. According to his other source of the publication, the launch is expected soon. And possibly as early as the third quarter of this year.

In exchange for eyeball scans, registered users will receive Worldcoin tokens. In investor documents published last December, it is assumed. That users will be able to request tokens every week. And their total number will decrease over time.

The same document reveals more details about the future tokenization of the project. Our experts note that the total number of WLD tokens will be 10 billion pieces. And of which 80% will be intended for users, operators and ecosystem. And 20% – for the Worldcoin team and investors. The tokens of team members and investors will be unlocked gradually over three years. The developers also intend to make WLD a governance token. That is, to give holders the ability to vote on proposals in the DAO. WLD tokens will not be available in the US and other countries.

Our experts explained the intricacies of Ripple Labs’ (XRP) important lawsuit for the crypto industry

The court of the Southern District of New York ruled in favor of the blockchain company Ripple Labs in a lawsuit against the U.S. Securities and Exchange Commission (SEC). At the regular hearing, Judge Analisa Torres issued a verdict that no sales or other forms of distribution of XRP tokens issued by the company. As well as sales of these tokens to private investors do not equate to transactions with investment contracts. That is, in fact, tokens are not recognized as securities.

Ownership of tokens, their placement on exchanges, payment with them, algorithmic distribution of coins and other retail transactions are not equated to such transactions. However, the court recognizes as an investment contract transaction the sale of tokens to institutional investors under a preliminary contract.

The XRP exchange rate reacted to the news with an 80% increase in less than a day. The main US exchange regulator has been suing Ripple Labs for several years. On December 22, 2020, the agency accused the company of selling $1.3 billion worth of unregistered securities under the guise of XRP tokens.

Over the years, the SEC’s case against Ripple has become one of the most important proceedings in the crypto industry. In June lawsuits against major crypto exchanges Binance and Coinbase, the commission equated a whole list of crypto assets to securities. The end result of the Ripple case could have serious implications for digital asset rules both in the U.S. and globally.

Why this decision is important

The US SEC’s multi-year lawsuit against Ripple Labs is a significant case because of the fact that its results can be used as a precedent for similar cases. Its results can be used as a precedent for similar cases. At the moment, the SEC alone decides on the status of a particular cryptocurrency. And in doing so, guided by the so-called Howey test.

Given the weight of these events, the immediate course of the process is also important in this situation. And its correct coverage in the media. Often information reaches retail investors in an incomplete or distorted form. This is partly what happened with the so-called victory over the SEC. Which was actually a motion to expedite the case. And the denial of some of the claims and the referral of the case to trial. Of course, the lightning-fast spread of the “news” caused an active rise in the price of XRP and the growth of the entire crypto market. Locally, this event manipulated the growth by bringing back the interest of retail traders.

However, globally, it can indeed be considered a positive decision. It may indirectly indicate that the judge is really getting into the process. And this case will not be considered superficially. This is generally positive for the industry itself, which is obviously experiencing difficulties in the absence of clear. And specific legislation directly for a new type of asset, which is cryptocurrency.

What will happen to other cryptocurrencies

Ripple Labs only partially won the court case. The judge ruled that the XRP token was not a security. But that only applies if it was sold on cryptocurrency exchanges to the general public or “through algorithms” .

The decision is significant because it rejects the SEC’s argument that XRP should be classified as a security. At the same time, the court recognized that Ripple Labs violated the Securities Act. And when it sold XRP to institutional investors. This means that selling the token to hedge funds or venture capital firms was considered a violation of US securities laws.

There is a certain irony in this: now the classification of an asset, its classification as a security, depends not so much on the characteristics of the asset itself. But rather on the characteristics of the investor who bought it. In general, the court’s decision for the crypto industry is quite important and positive.

The fact that the court partially sided with Ripple Labs, suggests that many altcoins, which are the most popular in the cryptocurrencies, are not the only ones. That many altcoins, which were also mentioned in the lawsuit against Coinbase as securities. And would eventually be recognized as cryptocurrencies if their underlying sales took place on public exchanges among the general public or through algorithms.

How the final outcome of the case will affect the crypto market

The final court ruling in favor of Ripple Labs in the case against the SEC could have a big impact on the entire crypto market. And if there is no appeal from the regulator.

The court’s decision could help establish the legal status of cryptocurrencies. And especially in the context of their classification as securities. This will create more clarity and predictability for other cryptocurrency companies and investors.

The court’s decision in the Ripple and SEC case will serve as a precedent for future litigation. Which are related to cryptocurrencies and their compliance with securities laws. If other companies can cite this decision in their cases. This could change the dynamics of cryptocurrency regulation and litigation.

A final favorable outcome for Ripple could impact regulatory policy regarding cryptocurrencies. Regulators may reconsider their approaches to categorizing and regulating cryptocurrency projects. And based on this court ruling. The right actions by the SEC will lead to a favorable environment in the cryptosphere.

Our experts note that this decision may still be subject to appeal. And the final status of the case may take a lot more time. Therefore, it is important to keep an eye on developments and take into account possible changes in the regulatory environment.

The launch of a new Arkham project to trade data on cryptocurrency wallet owners has raised questions about the ethics of disclosing such information

Cryptocurrency exchange Binance reported on July 18 that it has completed the public sale of tokens of the Arkham Intelligence (ARKM) analytics service. The token trades opened at $0.05, but shortly after the start of trading on the exchange, the ARKM rate soared to $0.75.

Arkham Intelligence has developed its own platform to visually analyze data in the most popular blockchains. With its help, you can view data about cryptocurrency wallets and movement of funds. And in doing so, matching wallet owners and analyzing their actions. This is applicable, for example, for investors when studying the chain of transactions of successful traders. Or for exchanges and law enforcement agencies when tracking the movement and conversion of stolen cryptocurrency.

Wide functionality and successful marketing strategy. Which includes a referral system and airdrop of future tokens, helped the project attract a user base.

Together with the announcement of the launch of the token, which received the ticker ARKM. And its distribution via airdrop and presale on the Binance Launchpad platform, the developers also announced the launch of the Arkham Intel Exchange marketplace. And on which the token will be used. On the site will be organized data marketplace, where buyers will be able to put up a reward for information. Which can be obtained from the analysis of cryptocurrency wallets, including for the identification of specific individuals who own these wallets. The service itself is promoted under the banner of ” deanonymizing the blockchain.”

This provoked a wave of discontent in social media discussions. And the company began to be accused of an unethical approach to personal data and privacy.

Despite the fact that data on all transactions in blockchains is public. But linking them to real people is often difficult. And privacy for many people is one of the fundamental factors in using cryptocurrencies as opposed to existing banking and payment systems.

There is no direct prohibition on “de-anonymization of blockchain”. However, it is related to the personal data of users on the web. And which clearly did not give consent for someone else to have access to them. Our experts believe that it will be important to distinguish between the personal data of users on this platform and those that they have provided to exchanges.

From an ethical point of view, this approach infringes on the basic principles and fundamentals of blockchain. Such as privacy and simultaneous transparency. When law enforcement obtains information about user accounts on exchanges.This becomes a kind of restriction of rights for the greater good. In the situation of selling data, not everything is so clear-cut. Because sellers and buyers operate with other people’s data, obtained not always in a legal way.

Our experts believe that many ordinary users will not be happy to find themselves and their wallet in such a database. This increases the risk that a person will become an object of attack of fraudsters. And they will know who owns the wallet and how much money he has.

Law enforcement agencies, cryptocurrency tracking systems or private researchers could act as such a platform’s services.

At the early stage, the use of the service will be limited to a narrow circle of users, our experts believe. Cryptocurrencies were created as an alternative to centralized systems. And many users want to remain anonymous and do not want to disclose data about themselves and their transactions. On the other hand, regulators have policies aimed at disclosing user data for the sake of their own safety. And they are introducing mandatory Know Your Customer (KYC) procedures on marketplaces to identify malicious users and hold them accountable.

A promising technology that would help both parties. According to our experts, the Zero Knowledge Proof (ZK) protocol is a promising technology that would help both parties. With it, it is possible to develop a technological solution that balances human privacy for the general public. And by allowing limited fragments of data to be disclosed to government agencies.

The number of active developers in cryptocurrencies is now higher than it was before the crypto market’s record growth in 2021

The number of developers in the field of cryptocurrencies has almost doubled in three years. This data follows from the report of the venture capital company Electric Capital. The growth of the indicator from June 2020 to the same month of this year was 92%.

Now the number of active developers is still higher than it was before the crypto markets hit record growth in 2021.

As of 1 June, the figure stood at 21,300. And that’s a quarter more compared to the same period in 2021. And about five months before Bitcoin set a record high above $69 thousand.

The authors of the report track the number of so-called commits – public edits and updates to the software code of projects. And which are placed in the public domain on the Github site. Analysts consider those developers who have continued to participate in writing the code of crypto services for at least a year to be beginners. Beginners are programmers with an experience of one to two years. And seasoned professionals are those whose experience exceeds two years.

Our experts note that professionals who have worked in the field of cryptocurrencies for at least one year. They also continue to make the majority of code commits.

Our experts assess the prospects for the Litecoin cryptocurrency and tell us what will drive its price up

In the current cryptocurrency market, Litecoin (LTC) looks attractive to buy. There are several reasons for this.

Firstly, the launch in the US of a new exchange for institutional investors, EDX Markets. In terms of funding, the exchange is backed by well-known professional participants such as Citadel Securities, Fidelity, Charles Schwab, Sequoia Capital and Virtu Financial. The exchange allows trading in a limited list of cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

For example, if you look at Bitcoin Cash (BCH). You can see the reaction in just over a week has increased in value by 3 times.

A similar scenario can be expected from the cryptocurrency Litecoin (LTC). It is close to a yearly high. If we draw an analogy with BCH. After the upward breakout of a significant high, the upward trend began to accelerate.

Second, the continuing risk appetite on global stock platforms. A number of public companies have already fully recouped the decline of last year, and some even updated their historical highs.

Trade plan
Buy LTC after a breakdown of $106;
Risk of 10% of the capital;
Stop loss $96;
Take profit – $150.

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

The FBI warns that scammers attract people to work overseas, promising high salaries. Upon arrival, they take away passports and force them to participate in scams related to digital currencies.

The U.S. Federal Bureau of Investigation (FBI) has warned of false job postings. Which are offered by scammers to lure people to work abroad and force them to participate in cryptocurrency scams.

According to the FBI, scammers post false job ads on social media. As well as on Internet job sites, inviting people to work in Southeast Asia. Jobs related to tech support, call centers or beauty salons are offered. Applicants are offered good wages, various benefits, travel, lodging, and meals.

Upon arrival, passports are taken away from people. And then they are forcibly held, intimidated and forced to participate in international cryptocurrency fraud schemes. Thus effectively holding them in slavery.

At the same time, victims are told that they must pay mounting debt for travel. As well as accommodation and food, and sometimes sell people to other criminal groups. People are also intimidated by threats to turn them in to local law enforcement.

Our experts point out that those looking for work abroad are advised by the FBI to be wary of strange wording in job postings. As well as offers with unusually high salaries and benefits. Also, when moving to another country, tell relatives and friends the details of the new place of work.