Schlagwort: crypto business

Veröffentlicht am

Singapore High Court rules crypto not different from fiat money or shells

  • Cryptocurrencies will now be viewed as property in Singapore.
  • The high court also demystified the notion that cryptocurrencies do not hold any value.
  • The Monetary Authority of Singapore (MAS) will implement segregation and custody requirements for digital payment tokens.

According to a ruling made on July 25 by Judge Philip Jeyaretnam of the High Court of Singapore, cryptocurrency is considered property that can be held in trust. The judge stated that as long as all of those objects, whether physical or not, share value that is created by a shared faith in it, he did not see any distinction between cryptocurrencies, fiat currency, or shells.

Judge Jeyaretnam pronounced himself in a case brought by ByBit against its former employee, Ho Kai Xin. According to ByBit, the employee transferred about 4.2 million Tether (USDT) from the cryptocurrency exchange to her personal accounts. He has been claiming that a distant cousin is in charge of the pertinent accounts, and the court has now ordered him to return all of the money to ByBit.

The legal standing of digital assets in Singapore

Even though the ruling may appear obvious, it contains some formulations that are crucial for the legal standing of digital assets. The stolen USDT and all cryptocurrencies are considered property by Judge Jeyaretnam.

Despite their lack of physical presence, the Judge is of the opinion that:

“We identify what is going on as a particular digital token, somewhat like how we give a name to a river even though the water contained within its banks is constantly changing.”

The judge also corrected the widespread belief that cryptocurrency lacks “real” value by pointing out that value is “a judgement made by an aggregate of human minds.” Cryptography was categorised by Jeyaretnam as one of the “things in action.”

The Monetary Authority of Singapore (MAS), which will implement segregation and custody requirements for digital payment tokens, was cited by the judge in support of his ruling. The Judge points out that it should be legally possible to hold such digital assets on trust if it is practical to identify and separate them.

The post Singapore High Court rules crypto not different from fiat money or shells appeared first on CoinJournal.

Veröffentlicht am

AltSignals revolutionizing the trading signals industry through blockchain and AI

  • AltSignals is riding the AI hype with its blockchain AI-powered AI ecosystem.
  • The project is currently conducting a presale for its native token, ASI.
  • The ASI cryptocurrency will be the backbone of the AI ecosystem.

Artificial intelligence has become quite a sensation and it is taking over almost all industries. From OpenAI’s ChatGPT chatbot to Elon Musk’s xAI Company and the recently launched Worldcoin cryptocurrency, AI is becoming a force to reckon with.

Although widely seen as a reserve of big tech companies like Google and Microsoft, blockchain startups are also leveraging the power of AI to streamline their services. One such startup is the AltSignals, which has been providing financial market traders including cryptocurrency traders with trading signals since 2017.

Five years of providing trading signals

Thanks to its high-end trading toolbox, AltSignals has drawn a sizable and devoted community of online traders since 2017. Due to its incredible success rate when disseminating trading signals, the AltAlgo indicator has assisted day traders in 10xing their portfolios.

AltSignals originally used the AltAlgo indicator whose algorithm examines price movement to predict when it is optimal to buy or sell cryptocurrency tokens. This can enable anyone to progress as a trader without having to invest a lot of time in their trading education.

AltSignals is currently broadening its selection by releasing a number of new AI-powered technologies that increase the profitability of its trading signals.

AI-generated trading signals

With a ground-breaking upgrade supported by cutting-edge technologies like artificial intelligence, machine learning, natural language processing (NLP), and advanced sentiment analysis, AltSignals is ready to take its already prosperous trading signals generation business to new heights with its new AI-powered ActualizeAI project.

With the help of these cutting-edge technologies, traders will have access to completely automated, round-the-clock trading that will increase accuracy, trade entry, clearly defined risk management and confluence clarity. To complement trading activities, advanced sentiment analysis will also be supplied.

ActualizeAI is intended to revolutionize the trading game with machine learning. Its algorithm will be expertly trained to identify patterns in market data, giving traders the edge they need to make informed trades.

The team behind the project also anticipates moving towards predictive modelling once they have fully deployed the regression models.

ActualizeAI combines both AI and blockchain technologies. Since AI can process data considerably more quickly than the human mind, it can provide outstanding trade signals quickly and reliably.

Besides receiving precise trading signals, traders will also be required to own the ASI cryptocurrency to join the ActualizeAI Club which will offer members access to the newest trading tools as soon as they are released by AltSignals, the option to partake in trading competitions for the chance to win bitcoin incentives, and much more.

Is AltSignals a worthwhile investment?

With significant initiatives being worked on by Microsoft, Alphabet (Google), and OpenAI, AI has entered the mainstream in 2023. AltSignals has a similar strategy, utilising AI to upend the trading sector.

AltSignals has an advantage because it was founded in 2017 and has experience.

ActualizeAI by AltSignals will combine machine learning and natural language processing with the existing popular AltAlgoTMtrading indicator.

The project’s devoted community of 50K signals users raised over $100K during the beta stage of the presale after which more and more crypto investors have poured into the ongoing ASI presale that has so far raised a total of $1,213,312 with two presale stages to go. If you are interested in purchasing the ASI token, you can do so here.

Delivering consistent, extremely precise signals every day for both traditional and cryptocurrency markets from a single platform and source of truth is expected to push AltSignals’ success even higher in the coming months. This will also impact the value of the ASI cryptocurrency, which is at the core of the entire AltSignals’ AI ecosystem.

The post AltSignals revolutionizing the trading signals industry through blockchain and AI appeared first on CoinJournal.

Veröffentlicht am

Dogecoin rallies in July, as a double bottom might already be in place

  • Dogecoin failed at $0.1 resistance in 2023 and made new lows
  • A double bottom might already be in place
  • If Dogecoin breaks above resistance, more buying should follow

Financial market participants await the Federal Reserve’s monetary policy decision later in the North American session. The Fed is expected to raise the funds rate again by another 25bp. 

Therefore, it will be interesting to see the message regarding future decisions. Most likely, the Fed’s Chair, Jerome Powell, will offer some hints during the press conference to follow the FOMC Statement, and so the dollar’s volatility is poised to increase. 

The Fed’s decision interests all market participants, regardless of the market traded. Cryptocurrency traders speculating on US dollar pairs get ready for a sharp increase in volatility too. 

Dogecoin, for instance, looks interesting. It rallied in 2023 together with other major cryptocurrencies, only to be rejected at the $0.1 resistance area. 

The rejection was so powerful that Dogecoin gave up all of its gains and made a new lower low. However, other cryptocurrencies, such as Bitcoin, did not give up their gains, making it even more difficult for Dogecoin bulls to hold their positions. 

The good news is that Dogecoin bounced from the lows, and a double bottom pattern might already be in place. As such, one should not be surprised to see the cryptocurrency trying again to break the $0.1 resistance area. 

Dogecoin chart by TradingView

Dogecoin should rally some more if it overcomes the horizontal resistance

A double bottom is a bullish reversal pattern forming at the end of bearish trends. The $0.06 area provided support, and now the path of least resistance leads to another attempt at the $0.1 area. 

A daily close above resistance should open the gates for more upside. The pattern’s measured move points to much higher levels, as even the neckline lies way higher. 

Summing up, Dogecoin bulls should welcome the recent price action, as the rally in July might just be the start of a meaningful bullish trend. 

The post Dogecoin rallies in July, as a double bottom might already be in place appeared first on CoinJournal.

Veröffentlicht am

Shiba Memu could be the next big thing as Fed prepares last hike

  • Shiba Memu token has raised over $1.1 million in the past few weeks.

  • The token will likely do well as the Fed delivers the last rate hike.

The Artificial Intelligence (AI) industry is doing well as adoption and investments rise. On Tuesday, companies like Microsoft and Alphabet said that their AI tools were gaining momentum as demand jumped. 

At the same time, top AI cryptocurrencies like SingularityNET and Fetch.ai have held quite well recently. Worldcoin, the coin launched by ChatGPT’s founder has jumped by almost 50% in the past three days. So, is Shiba Memu the next big thing in crypto?

Fed to end rate hike

There were three main news this week. First, the earning season continued in the United States as over 150 companies in the S&P 500 index published their results. Microsoft and Alphabet, two of the biggest companies in the US published strong financial results. Most importantly, the said that the development and adoption of their AI tools was gaining momentum.

The other big news was the launch of Worldcoin, a new cryptocurrency founded by Sam Altman, the founder of ChatGPT. Worldcoin is a cryptocurrency that is made up of a privacy-preserving digital identity known as World ID. WLD is a cryptocurrency that can be used internationally, as we wrote here. It also has some AI features.

The strong performance of Worldcoin is a testament that there is still demand for unique cryptocurrencies and technologies.

Finally, the Federal Reserve will deliver its interest rate decision on Wednesday. This will be an important decision since it could be the final hike of the year. Analysts believe that the bank will hike by 25 basis points and push rates to the highest point in 22 years. But with inflation falling, there is a likelihood that this will be the final increase.

A decision to pause interest rates will be necessary since inflation has fallen while there are signs that the economy is slowing down. Such a move will be positive for cryptocurrencies and other assets.

Shiba Memu token sale continues

The other important crypto news during the week was the strength of Shiba Memu, a new cryptocurrency that incorporates AI and meme coin features. The hype surrounding the token has continued rising, which has helped it raise over $1.18 million in the past two weeks. The creators have sold over 40 million tokens in the first phase of the process.

Shiba Memu’s goal is to leverage the strength of two important themes in the market: meme coins and AI. This year, we have seen the strength of several new meme coins like Pepe and Milady Meme Coin do well. At the same time, AI tokens like Fetch.ai and SingularityNET have jumped by more than 500%.

Therefore, there is a likelihood that the Shiba Memu coin will continue doing well when it is finally released in exchanges like Uniswap and Binance. You can read the Shiba Memu white paper here and buy the token here. 

Still, you should be aware of the risks of investing in presale tokens. It is a high-risk and high-reward way to make money. As such, you should only invest a small portion of your money.

The post Shiba Memu could be the next big thing as Fed prepares last hike appeared first on CoinJournal.

Veröffentlicht am

Tezos price prediction: a look at XTZ and network metrics

  • Tezos (XTZ) price is down 2% this past week as cryptocurrencies struggle for direction.
  • XTZ trades near $0.80 and risks declines to $0.65 if bears take control.
  • However, network metrics suggest a resurgence in activity after recent upgrades – which could catalyse upside momentum.

Tezos is largely unchanged in the past 24 hours as most cryptocurrencies either retreat from recent highs or consolidate at levels that have held for much of July.

XTZ, which traded to highs of $0.90 on Monday, looks to be in the former group as its price hovers near $0.80. The coin’s current price levels are at a similar base seen on July 12 when bulls went on to test resistance above $0.92.

Tezos upgrades could catalyse network growth

According to data shared by crypto market intelligence platform Messari, Tezos has seen reduced activity since Q4, 2022. Account-related metrics such as active accounts have declined by 20% in the last three months compared to the first quarter.

The network has also recorded a decrease in new account registrations, with this down 16% QoQ, Messari pointed out in a report.

However, according to Messari, Tezos’ recent upgrades of Mumbai and Nairobi could catalyse fresh network growth. For instance, Mumbai has enabled decentralised app development via different languages, a scenario that will attract more developers to build on the network.

The Nairobi upgrade is another development that could bump usage, particularly with the TPS increased 8x and introduction of Smart Rollups among other improvements. Can these positives help XTZ price?

XTZ price prediction

As shown in the chart below, the price of Tezos’ native token has largely fluctuated between $0.65 and $1.2 since November 2022.  But with a breakdown below $1 in recent weeks, it looks like bears could aim for the range lows again.

Tezos price on a weekly chart.Source: TradingView

The weekly RSI is beneath the neutral point and sloping to strengthen the bearish outlook. However, bulls can still take control if they push towards the psychological area mentioned above.

Here the 20 and 50 EMA suggest robust resistance at $0.98 and $1.26. Tezos bulls can target $2.0 if they achieve the above.

The post Tezos price prediction: a look at XTZ and network metrics appeared first on CoinJournal.