Monat: Juli 2023

Key takeaways

• Bitcoin has maintained its value above $30k as more investors hold their cryptocurrency assets.

• AltSignals’ stage-2 presale has now surpassed 50%, with more than $1.1 million raised so far.

The cryptocurrency market has been stagnant for the last two weeks, with the prices of most coins and tokens trading within specific ranges.

Bitcoin, the world’s leading cryptocurrency by market cap, has maintained its value around the $30k region over the past few weeks.

Inflation figures come out lower than expected

Rising inflation figures in the United States and other parts of the world have led to the Federal Reserve hiking interest rates in recent months.

However, the Fed didn’t increase interest rates last month, and investors are now optimistic that the US apex bank might decrease interest rates later this month.

The SU Consumer Price Index for June was 0.2%, lower than what market analysts had expected. With inflation declining in the US, the Fed might reduce its interest rates in the near term.

If that happens, the cryptocurrency market could experience a positive performance. At press time, the price of Bitcoin stands at $30,566, up by less than 1% in the last 24 hours. 

Data obtained from Glassnode revealed that the number of wallets holding at least one BTC had reached an all-time high of 1,008,737 million.

As more people are holding Bitcoin, investment in other cryptocurrencies could increase in the near term. Investors could be looking to enter new projects and make excellent returns.

One of the projects investors could consider is AltSignals. AltSignals is still in its presale stage and has already raised more than $1 million in its second presale round. 

What is AltSignals?

Before investing in AltSignals, it is advisable to know what the project is and the problem the developers intend to solve in the market. 

AltSignals is a project that primarily targets traders. It is a trading platform that provides trading signals for stocks, forex, indices, cryptocurrencies, and CFDs. 

Although AltSignals is still in its presale stage, the team has raised more than $1 million and will use the funds to develop its platform.

The stage-2 presale has raised more than $1 million so far, with the team targeting around $2 million in this round. 

ASI, the native token of the AltSignals ecosystem, is currently sold for 0.01875 USDT. The token price could increase in the near term once the project officially launches and gets listed on cryptocurrency exchanges. 

In their whitepaper, the AltSignals team revealed that they would use the funds to develop ActualizeAI, a solution that could make it easier for more people to enter the cryptocurrency trading scene. 

ActualizeAI will be AltSignals’ fully automated solution that would make it easier for people to trade cryptocurrencies. 

Visit the official AltSignals website to learn more about their presale.

Should you invest in AltSignals now?

Bitcoin and the broader cryptocurrency market have performed well since the start of the year. Year-to-date, Bitcoin is up by nearly 50%, outperforming the other major financial markets.

Market analysts predict that Bitcoin’s price could surge higher in the medium to long term. If that happens, other cryptocurrencies could record massive gains too.

One of the projects to look out for is AltSignals. Although it is still in its presale stage, AltSignals could be a project that changes the way traders approach the market. 

If the development team delivers on its promise of a platform dedicated to traders, AltSignals could see an influx of traders on its platform, and that would result in ASI’s price soaring higher over the next few months and years. 

The launch of ActualizeAI could be a huge boost for AltSignals as the project seeks to attract more traders to the cryptocurrency ecosystem. 

The post Bitcoin maintains price above $30k as more investors hold their assets appeared first on CoinJournal.

• The FTC said Celsius “squandered billions in user deposits” after “duping” customers into depositing funds.
• Celsius and its former CEO have also been sued by the US SEC today.
• Last week, the CFTC found the former CEO and Celsius Network guilty of violating several laws while operating in the country.

In what appears as a double tragedy for the bankrupt crypto lending platform Celsius Network, the US Federal Trade Commission (FTC) has issued the company with a $4.7 billion fine.

The judgment will, however, be suspended to “permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.”

According to the July 13 FTC judgment, Celsius and its affiliate firms will be permanently barred from “offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets.”

FTC’s fine was announced just hours after the United States SEC filed a lawsuit against Celsius Network and its former CEO Alex Mashinsky.

Why is Celsius under siege by US regulators?

The crypto lending company, which had its headquarters in New Jersey, offered customers a range of cryptocurrency services including interest-bearing accounts, personal loans backed by customers’ bitcoin deposits, and a cryptocurrency exchange before its collapse.

The FTC has stated that the platform co-founders Alex Mashinsky, Shlomi Leon, and Hanoch Goldstein misappropriated more than $4 billion in consumer assets while marketing the platform as a “safe place” for users to deposit their cryptocurrencies.

The FTC also charged Celsius with making $1.2 billion in unsecured loans, lying about having a user insurance policy worth $750 million, and without having any way to track its assets and liabilities until late 2021. According to the FTC, officials reportedly lied about the state of the company even as the 2022 cryptocurrency bear market was beginning.

The post US Federal Trade Commission slaps Celsius Network with $4.7B fine appeared first on CoinJournal.