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President Nayib Bukele's congressional allies have already approved legislation giving the cryptocurrency official currency status alongside the U.S.
DOLLAR
NSE -0.34 %, a first in the word a first in the world. The move takes effect in September.
Bukele has touted bitcoin adoption as a way to facilitate remittance payments from Salvadorans living abroad.
The ADA/USD exchange rate topped out at $2.899 around 9:00 am UTC, raising anticipations that it would easily close above $3 in the coming sessions.
Many analysts, including pseudonymous chartist PostyXBT, noted that the Cardano token had entered a “price discovery mode.” Meanwhile, David Gokhshtein hinted that ADA/USD might continue its bull run until Sep. 12, the day Cardano is going to integrate a smart contracts feature to its blockchain via the “Alonzo” upgrade.
In detail, the Alonzo upgrade introduces a native smart contracts development language called Plutus to the Cardano ecosystem. Plutus is already available for testing and brings functional programming to smart contract creation to everyday users.
As a result, ADA bulls anticipate the tokens adoption to boom in the sessions ahead as Cardano attracts decentralized application developers — operating in the emerging decentralized finance and nonfungible token sectors — to its smart contracts ecosystem.
Overbought risks
But Cardanos technical indicators predict a short-term shock, something that might have the ADA/USD corrected lower by as much as 40% despite maintaining its long-term bullish outlook.
The Cardano tokens daily relative strength index (RSI) has ventured deeper into overbought territory, at around 83. Traders consider an RSI reading above 70 as overvalued. As a result, it prompts them to sell the asset to secure maximum profits.
For instance, a run-up in ADA/USD rates in the first quarter of 2021 pushed its RSI reading above 90. Later, the pair started consolidating sideways while maintaining support near its 50-day exponential moving average (50-day EMA; the scarlet wave).
Related: Cardano defies Peter Brandts 90% crash warning, ADA price doubles to new high
ADA‘s price now sits atop 114% month-to-date and 1,511% year-to-date profits. At the same time, an oversold RSI pictures an interim profit-taking scenario. So if the Q1/2021 fractal repeats, ADA’s next line of support comes to be near its 50-day EMA at $1.73, almost 40% below the current prices of $2.83.
But a correction won‘t necessarily exhaust Cardano’s long-term bullish outlook. Given the potential success of its Alonzo upgrade, the project could end up attracting more speculative upside bids for its ADA token. As a result, the ADA/USD exchange rate expects to remain in price discovery mode.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
But with the innovations comes the money, and with the money come scams. Millions of dollars have been lost to DeFi exploits, hacks, “rugpulls,” and flat-out frauds in the past many months, with most of the stash exiting the market to never return.
BINANCE Smart Chain, the smart contract-enabled version of the Binance Chain, has emerged as a hotbed for such scams. Names like BurgerSwap, Belt Finance, Impossible Finance, and others, have accounted for millions of dollars worth of damages, with some like ‘SafeDollar’ on Polygon have dropped to $0 after getting exploited by hackers.
Not all hope is lost, however. There are ways to remain protected and lessen risks from DeFi exploits. Heres Jeff Kirdeikis, CEO of DeFi app TrustSwap, with five tips on how users can get in the know and lessen their risk.
1. Don't over-commit.
When it comes to investing in CRYPTOcurrencies, its important to never invest more than you can afford to lose. This is the golden rule of investing in general, but it is also extremely applicable to the world of crypto and DeFi. While there is much promise in this sector, DeFi can be extremely risky, and it can be easy to become overzealous in your investments.
Take the time to plan and budget, focusing on building a solid foundation before investing more, but dont be afraid to make a profit every once in a while. Always remember the crypto market is volatile, so proceed with caution.
2. Do your homework.
As crypto enthusiasts say, DYOR, or Do Your Own Research, before making any investment. The crypto world comes with both great opportunity as well as great risk, so make sure you do your homework to educate yourself from reputable sources.
There is a ton of misinformation out there on the internet, and being an uninformed investor can lead to a downfall. To avoid “shilling,” where people advertise COINS that they own in hopes of positively affecting the price and oftentimes so they can sell up on you, it is important to have as much factual knowledge as possible before making a decision to invest.
3. Don't overshare.
To ensure your crypto investments are as secure as possible, never share seed phrases or private keys with anybody, even if the website has a secure icon or certificate. If a customer service agent is asking for your phrases or keys, it is most definitely a scam.
The only reasonable time you should ever enter seed phrases or private keys is if you change hardware wallet, browser, or device and need to restore your wallet. Any other time you reveal this information, you are no longer in control of your wallet and therefore, all of your funds.
4. Do lean on the safe side.
Purchasing a reputable hardware wallet and enabling other security measures, like two factor authentication, will ensure your digital currency will stay as secure as possible. Also beware of malicious applications that can access your tokens or use your device for processing power-consuming mining activities.
The famous “send me 1, I‘ll send you 2” scam is common in the crypto world, along with Ponzi schemes apps claiming “free crypto” if you refer a friend. If it’s too good to be true, it probably is!
5. Don't fall for phishing attacks.
Email databases get hacked frequently, which gives hackers complete access to your personal information and crypto-assets.
Be aware of suspicious emails and links, as hackers obtained your personal information and therefore can easily impersonate the hacked company, and by adding malicious links, access additional confidential information and maybe also your funds.
Gold proponent and crypto skeptic Peter Schiff has been crowned the winner of a debate on whether gold is a superior store of value to Bitcoin.
Schiff was facing off against Skybridge founder and former politician Anthony Scaramucci in a debate hosted by Intelligence Squared on Aug 25.
Before the gold vs Bitcoin debate began, a poll scored 38% of the online audience in favor of the precious metal, 26% for BTC and 35% as undecided. Schiff was able to swing a significant number to the precious metal by the end, with final results tallying in at 51% for gold, 32% for BTC and 17% undecided.
Scaramucci kicked things off by asserting that BTCs value is derived from its network which enables peer-to-peer transactions without a third party. He also suggested that BTC has an edge over gold because of its scarcity and digital properties:
“I think this cryptocurrency revolution and Bitcoin specifically, because of its scarcity, is going to transcend gold. It‘s more portable, it’s impregnable in terms of the transaction over the blockchain [...] and it's being adopted quite rapidly.”
“A result of which the prices are going to go a lot higher,” he added.
In response, Schiff said that “in reality, Bitcoin and gold have absolutely nothing in common” as he argued that Bitcoin is marketed like gold, but doesnt possess any of the “metallic properties,” that gives gold value.
“Part of the marketing fraud is to try to portray Bitcoin as gold, gold 2.0, digital gold. I mean Bitcoin itself is always displayed as a coin, and the color is gold, and you put like a ”B“ on it. But it‘s not a coin, it’s just a digital string of numbers, it doesn't have any substance,” he said.
He argued that there is a difference between “price and value”, with gold‘s value being determined by real-world use cases, while BTC doesn’t have tangible backing in the real world:
“In 100 years, in a 1,000 years, the gold that I‘m storing today can be melted down and used in electronics or used in jewelry, or for whatever new uses have been invented that don’t even exist today.”
Throughout the debate, the crypto skeptic described BTC as a “Ponzi scheme,” a “giant pump and dump” and “tulip mania.” Schiff is also unfazed by the rising price of the asset, as he believes that late adopters of BTC are being gradually dumped on by whales who got in early. “In my mind it is a giant pump and dump, where the guys that got in relatively early [...] are constantly trying to pump up the market in order to generate a lot of enthusiasm and momentum and FOMO so that they can sell out gradually into this market that they are creating,” he said.
Scaramucci reiterated that the value of BTC is tied to its global network, and that digitization in the next stage of humanity as “software is eating the world.” Schiff stated he would only change his mind if BTC was backed by gold, and was actually used as a currency as opposed to being traded primarily.
AUD/USD defends 0.7100 mark for now.
The AUD/USD pair dropped to fresh multi-month lows during the early North American session, with bears still awaiting a sustained break below the 0.7100 mark.To get more news about AUD/USD, you can visit wikifx.com official website.
The pair extended this week's downward trajectory for the fifth successive session on Friday and was weighed down by the worsening COVID-19 situation in Australia. Having suffered its worst day since the start of the pandemic, the Australian state of New South Wales (NSW) extended the greater Sydney lockdown until the end of September. This, along with the prevalent risk-off environment, weighed heavily on the perceived riskier aussie.
Against the backdrop of worries about the Delta variant of the coronavirus, expectations that the Fed will begin to roll back its crisis-era stimulus took its toll on the global risk sentiment. In fact, the minutes of the last FOMC meeting held on July 27-28 convinced investors that the Fed is comfortable to reduce the pace of its massive asset purchase program. This was seen as a key factor that acted as a tailwind for the safe-haven US dollar.
Despite the combination of negative factors, the AUD/USD pair, so far, has managed to hold its neck above the 0.7100 round-figure mark amid oversold RSI on short-term charts. That said, the fundamental backdrop remains tilted in favour of bearish traders and supports prospects for further losses. Hence, any attempted recovery move might still be seen as a selling opportunity amid absent relevant market-moving economic releases from the US.
Another of the financial system’s leaders that has stirred discussion around whether there has been a material and lasting shift in gear comes through the US Dollar. The Greenback (DXY Dollar Index) broke above 93.50 and in turn cleared the March swing high and midpoint of the past 15-month range. Such a technical milestone would seem an occasion to charge strong follow through, but there was virtually no momentum to speak of after the breach. There is something to be said of the makeup of the ICEs trade-weighted index. EURUSD is the principal component of this particular Dollar measure and the pair has similarly struggled to gain purchase after slipping below 1.1700. The more liquid an asset is in general, the less prone it is to bouts of volatility that arise owing specifically to thin conditions. Similarly GBPUSD extended a decline that was moving comfortably within a range (1.3900 to 1.3550) while USDJPY was essentially unmoved this past session.
There is a conviction for the Greenback as much as there is for the risk assets like the US indices. Clearly, risk trends are not providing a consistent drive, so the safe haven status of the Greenback has not been properly fostered. Some would jump to interest rate speculation as the engine to carry the US currency higher, but there is a very overt lack of support from other assets that naturally respond to the same fundamental line. The US 10-year Treasury yield actually lost altitude this past session while the implied interest rate forecasts through 2022 derived from Fed Fund futures was unchanged at 17.5 basis points (a 70 percent probability of a standard hike by December of next year). The FOMC minutes released Wednesday afternoon certainly add credibility to speculation that a taper is nigh, but the market paid the comments little-to-no heed on its release with the Dollar only finding traction some hours after the talking points were absorbed. With only a scheduled speech from Robert Kaplan (a non-voting hawk) ahead, it will be difficult to charge hawkish speculation further.
Where the Dollar‘s progress and technical picture is unconvincing through its core counterparts, there is an unexpected degree of consistent drive for the Greenback among the so-called ’commodity crosses‘. Perhaps the most impressive move would come on part of USDCAD. The pair posted its biggest single-day rally since June 11, 2022 this past session with a 1.4 percent explosion higher and in turn over took July’s swing high to trade at levels not seen in 6 months. This four-day rally looks like the progression on a technical trend, which is remarkable given the Bank of Canada has already tapered twice this year. It is possible that this is an outlier where trends can form amid persistent congestion, but what is the probability of that happening？ The answer to that question should be processed through our personal risk tolerance to see whether we should consider this a viable development.
A more productive pairing for the US Dollar is AUDUSD. The most recent four-day tumble has pushed us through 0.7200 and in turn taken out the 61.8 percent retracement of the 2001 to 2011 bull trend – essentially the life range for this cross. This most recent leg is an extension on a much larger and productive trendline lower. It started back in June when clearly 0.7700 represented a neckline break on a smaller head and shoulders pattern with an eventual clearance of 0.7550 taking out a similar reversal pattern that developed throughout the first half of 2021. The progress since taking out the floor has been agonizingly slow for momentum traders, but it has slowly progressed. Interestingly here, there is far less fundamental friction from the RBAs own monetary policy stance as the central bank has struggled and the government has restored targeted shutdowns amid swells in Covid cases.
Speaking of Covid cases, New Zealand announced it was shuttering for at least a brief period after the discovery of a few positive cases of the virus in the country. That led the Reserve Bank of New Zealand (RBNZ) to delay what was considered by the market to be a certain 25 bp rate hike. That said, Governor Orr made clear that the central bank was likely to move at the next meeting in early November with the market speculating on two hikes before years end. That is perhaps why the reversal pattern that has developed in 2021 in favor of the Greenback on NZDUSD has been slower and the recent break through 0.6900 looks more technically significant. Unless there is a full-tilt risk aversion to come to end this week – or into next week – this is a run that is likely to ease up much faster than AUDUSD.
Unique Solid Aluminium Candle Light Range Designed By Charles Lethaby
Lighting designer Charles Lethaby based in the United Kingdom has created a new unique interlocking candle holder range, which has this week launched via Kickstarter to raise the required pledge goal required to make the jump into production. Constructed from solid aluminium the interlocking candleholders are available in a variety of designs and can be combined together to forma number of different arrangements. Watch the demonstration video below to learn more about their construction, and inspiration.Get more news about Aluminium Candle,you can vist our website!
Crafted in solid aluminium and weighing between 450 grams for the No.3 candle holder and 790 grams for the No.1 light holder. The interlocking candle holders offer tactile objects made up of three segments that seamlessly thread together with one another to create sculptural arrangements.
Using a 2-axis CNC lathe, each candle holders is precision cut to a tolerance of +/-0.015mm. Once machined each segment is the n sandblasted and anodised gold or black to finish. One segment is also imprinted with the iconic CLL logo which can be displayed on the top or secretly hidden underneath. Each precision cut candleholder comes supplied in distinctive black tube packaging.
For more information jump over to the official Kickstarter crowdfunding campaign which started this week and has already nearly reached its required pledge goal with still 14 days remaining on its campaign. Pledges start from £25 for early bird backers with shipping expected to take place during April 2018 if all goes well.
Chicken House signs two debuts from one-day open submissions
Chicken House has signed two debut novels from its one-day open submissions period, Open Coop.Get more news about Chicken house,you can vist our website!
Editorial director Rachel Leyshon bought world rights to Jummy at the River School directly from author Sabine Adeyinka, a middle-grade boarding school story set in Nigeria and based on the author's own experience in the late 1980s.
Leyshon commented: "I can’t wait for readers to meet the irrepressible Jummy – tiny and fierce and funny – as well as her friends at the River School. Sabine is a born storyteller for children and has created a really fresh world full of charm and intrigue."
World English rights to The Secrets Act by Alison Weatherby were acquired by senior editor Kesia Lupo from Lucy Irvine at PFD. Weatherby's debut is a YA spy thriller following two code-breaking teenage girls at Bletchley Park during World War Two.
Lupo said: "As soon as I started The Secrets Act, I was drawn into its world. The tense, drizzly atmosphere of wartime England, the trail of intriguing clues, the deepening friendships and thrilling hints of romance – what’s not to love? Alison is a fresh YA talent to watch!"
Open Coop is a 24-hour open submissions period, which asks writers to submit a pitch letter and the first three chapters of a novel for children aged seven and up (and including YA) for consideration by Chicken House editors for mentorship.
Leyshon said of Open Coop: "The Open Coop is our submissions pop-up for new authors. It’s made for unpublished writers who are at the beginning of their writing careers, sometimes even at the beginning of their stories. As it’s a pop-up we love announcing it unexpectedly – some might say randomly! – and the excitement and energy this creates in the writing community. We pick projects with big ideas and child appeal – they don’t have to be polished pieces of writing – and love to spend the proper time working with our new authors all the way to publication."
MEET THE WORLD’S FIRST FLEXIBLE HORIZONTAL FREEZER
Developed by leading engineers, enabled by state-of-the-art freezing technology and available for customization, the world’s first flexible automatic horizontal freezer is a reality.Get more news about Full Automatic Horizontal,you can vist our website!
The brand-new plate freezer is designed to fit varying needs and allow a stable level of productivity across seasons and changing product range. The HS Flex freezer automatically adjusts itself to different tray heights, providing endless freezing opportunities. Includes our fully automatic loading and unloading system for an all-in-one freezing solution, reducing operational costs and manual labor.
The flexible automatic horizontal freezer is suitable for all types of fish, seafood, meat and poultry as well as vegetables, fruits and ready meals – all of varying sizes. The benefits of this innovative freezing system include optimum plate sizes and customized widths and lengths, a unique design with single station openings as well as easy cleaning and maintenance.
The best rangefinders to help you shoot like a champ
No one is questioning your ability to estimate range by referencing your ACSS reticle or imagining how many football fields could fit between you and the target, but we might suggest that a rangefinder could improve your shooting. Hunting and recreational shooting require you to account for things like wind, humidity, and temperature — not to mention the type and consistency of ammunition you’re using. Maintaining thorough notes for data on previous engagements is important, and you can make those notes a lot more accurate by using actual ranges rather than estimated ones.Get more news about Yard rangefinder Hunting,you can vist our website!
Even NASA engineers use calculators, and you should take advantage of available technology, too. A proper rangefinder can take your shot placement from accurate to dead-on balls accurate (it’s an industry term) in the blink of an eye.
If you’ve been paying attention at all, you know that Vortex Optics isn’t messing around. The Wisconsin company builds scopes, red dot sights, and binoculars in addition to this rock-solid rangefinder. Accurately measure distances out to 1,000 yards and use the scan feature to watch the rangefinder continuously display distances as you scout the landscape. Six-power magnification helps with those long shots that lesser rangefinders struggle with. This Impact rangefinder also calculates the effect of shooting at an angle to provide an accurate reading for more complex real-world scenarios. Switch between yards and meters with the push of a button. With a waterproof and shock-absorbing housing, all this tech is tough enough to handle whatever your day throws at it.
We love gear that offers quality and performance without breaking the bank, and the Rainier Gear rangefinder is no exception. With this laser rangefinder, you’ll get instant and continuous distance measurements that are useful in the hunting blind and on the move. Automatic slope calculations convert angled shots into usable effective distance measurements that can be quickly translated into sight adjustments. Simple push-button controls make switching through the various modes and settings easy. Accuracy is good out to 1,150 yards, which exceeds many options that cost a lot more. This is also one of the more compact rangefinders out there. Choose from black, camouflage, and high-visibility green. Who says you have to spend big bucks to shoot big bucks?
This Callaway hybrid rangefinder is perfect for those of you who love to both golf and hunt and don’t want to buy duplicate pieces of equipment when one rangefinder will work for both hobbies. Like other leading hunting rangefinders, this one uses laser technology to measure distances from five to 950 yards with extreme accuracy. Enjoy six-power magnification that lets you get a clear view of the target for an accurate reading. When it’s time to grab a round of golf, this rangefinder comes pre-loaded with data from more than 38,000 golf courses around the world and uses GPS coordinates to provide readings to the hole with pinpoint accuracy. Sure, it was designed with golfers in mind, but dual-sport enthusiasts will find this to be a versatile companion that’s worth its weight in your golf bag and your hunting pack.
Bushnell offers renowned build quality in a rangefinder that’s great for shooting and archery alike. The fast laser provides range readings accurate to within one yard from seven to 850 yards out. Bowhunters can take advantage of an arc mode that works for ranges up to 199 yards. Get a closer look at your target and make sure your range is on point with four-power magnification. Convenience features like anti-slip coating and a battery indicator are a nice touch; nobody likes to drop their rangefinder in the rain or run out of battery unexpectedly. This advanced rangefinder performs well in low-light situations that cause problems for other models. The single button makes it easy to use, too. This is a great option for anyone, but it’s a downright bullseye for archery.
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