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Author Topic: StormGain is a crypto trading platform for everyone.  (Read 103006 times)

Offline stormgain

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Re: StormGain is a crypto trading platform for everyone.
« Reply #45 on: August 27, 2021, 10:55:07 AM »
Metrics: Bitcoin keeps growing despite lacklustre user activity

Bitcoin’s price has risen by 40% to around $50,000 without high speculative activity amidst a background of plunging trading volumes and a low number of transactions. Is this indicative of a looming correction?



Bitcoin transactions are around five-year lows, which was last observed together with an 85% drop in prices from the highs of 2017.



In addition to the lower number of transactions, trading volume has also dropped, which Arcana Research views as a bearish signal. The recent price growth has not correlated with vast interest.



However, several objective reasons can explain this. Firstly, the number of transactions has fallen because of pressure from Chinese regulators. Some exchanges are changing their registration, others are refusing to accept Chinese citizens’ funds, and miners have simply been prohibited from working in some provinces. Secondly, the world’s largest crypto exchange, Binance, has become a subject of public discontent in many countries. Because of regulatory pressure, the exchange has lowered its leverage from 1:100 to 1:20, leading to a slump in trading volume.

Meanwhile, the Fear and Greed indicator is showing that market optimism has gone last. SOPR (Spent Output Profit Ratio) indicates the same thing: most traders are once again making profit from selling their coins



While traders took a break and are not showing much activity, institutional investors continue their hunt for bitcoin. For example, MicroStrategy bought $177 million worth of BTC at an average price of $45,000 per coin and currently owns 108,992 BTC. Citigroup has followed in Goldman Sachs’ footsteps, submitting an application to regulatory bodies for access to Bitcoin futures on the Chicago Mercantile Exchange.

Currently, activity on the network does not indicate an impending correction. The drop in volume is related to regulatory pressure and reduced trading leverage. Meanwhile, holders and institutional investors are continuing to accumulate.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #45 on: August 27, 2021, 10:55:07 AM »

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Re: StormGain is a crypto trading platform for everyone.
« Reply #46 on: August 30, 2021, 11:58:26 AM »
NFTs are making a comeback as ETH booms

Non-fungible tokens, or NFTs, were the talk of the crypto community, the wider finance community and the art world earlier this year thanks to striking artworks, celebrity participation and eyebrow-raising sales prices. These elicited frantic headlines across the mainstream press that made the general public interested in what had previously been an obscure phenomenon: digital items that can be verified as unique on the blockchain.

The media buzz was driven by the $69-million sale of the digital artwork Everydays: The First 5000 Days by Beeple. It was the spearhead of NFT mania, with big-ticket digital tokens selling for millions of dollars. Meanwhile, an NFT representing the first-ever tweet by Jack Dorsey sold for a comparatively humble $3 million compared to Beeple’s work, whereas blockchain collectables such as rare CryptoPunks sold for over $7 million.

The NFT feeding frenzy subsided during the summer, leading some to say that investors’ interest in NFTs was a one-time event. But the market is proving them wrong. In fact, NFT trading has just hit new heights.

CoinDesk recently reported that the number of sales on OpenSea, the largest NFT marketplace, has surpassed the NFT craze seen in the spring multiple-fold. Daily sales hit over 60,000 tokens in the past week, almost eight times more than March’s all-time high (source: Coin Metrics). Blockchain industry data tracking firm DappRadar also reported that trading volume on OpenSea was $1.22 billion over the last 30 days, a 933% increase over the previous 30-day period.

So, what exactly is being traded? So far, the current surge indicates the continued success of NFT collectables such as CryptoPunk (pixel art headshots with various fashion accessories), Bored Ape Yacht Club (similar to CryptoPunks, but the characters are apes) and Pudgy Penguins (take a guess!). Like limited-edition trading cards, these digital tokens can no longer be bought directly from the producers but are traded to the highest bidder on platforms such as OpenSea.

But even if trade in crypto-collectables is thriving, they don’t garner the same public interest as Beeple or Jack Dorsey’s NFTs. Global Google search activity for NFTs still ranks lower than in March, the height of NFT trending in the mainstream media.

What could this mean for crypto traders?

Even if they don’t touch NFTs themselves, crypto traders should be aware of how the NFT market affects the cryptocurrency economy as a whole. Most NFTs reside on the Ethereum blockchain and are priced in Ether (ETH), the second cryptocurrency by market cap. A boom in the NFT market could drive up interest in ETH and, consequently, the value of the cryptocurrency. This is what appeared to happen in March when OpenSea sales increased alongside the price of ETH. But NFTs are only part of the Ethereum ecosystem. In May, ETH’s price soared even as NFT sales slumped to dismal levels. So, a trader should consider all the aspects surrounding Ethereum, not just NFTs.

At the time of writing, ETH is up by over 65% over the last 30 days, outpacing Bitcoin in gains. This may be explained by the recent London hard fork, which improved efficiency and transaction fees on the Ethereum network when it went live on 5 August. With ETH’s increased attractiveness to investors resulting from the fork combined with high NFT trading volume, we could see a pattern of increased confidence in and demand for Ether.

Trade ETH, BTC and more at the best rates with StormGain

Whether you’re looking to trade ETH on the back of NFT success or investing in any cryptocurrency to increase your wealth, it’s important to have the best tools for the job at your fingertips. StormGain provides exactly that: an all-in-one crypto trading platform with trading signals, analytics and charts built into an easy-to-use app. Trade over 65 different digital assets, including Bitcoin, 50+ altcoins, crypto indices and even tokenised stocks in Apple, Tesla and other tech giants. All this with the best features in the industry, including free Bitcoin rewards, loyalty bonuses for trading, up to 12% interest on your crypto holdings and a generous zero-commission profit-sharing model.

Not a StormGain user? Register now in just a few seconds and try the risk-free demo account to see how much you could make trading cryptocurrency with the best perks in the business!

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Re: StormGain is a crypto trading platform for everyone.
« Reply #47 on: August 31, 2021, 12:45:58 PM »
Solana Enters Top 8

Ethereum’s unsolved problems have led to the emergence of interesting projects that are moving by leaps and bounds to resolve their predecessor’s mistakes. One such project, Solana, has seen its price increase by over 200% in August alone, putting it among the Top 8 cryptocurrencies by market capitalisation.



Smart contracts are becoming more popular because of the boom in the DeFi (decentralised finance) and NFT (non-fungible token) markets. Most projects use the Ethereum blockchain, which has been unable to cope with the workload. Network fees have risen again despite the London hard fork on 5 August to remove the network’s auction mechanism for transaction fees. We expressed our concerns at the start of the month, and, unfortunately, they have come true: costs have risen to highs last seen in February.



High expenses and low transaction throughput are forcing projects to search for alternative blockchains. Solana is one of the most promising; with an average transaction fee of $0.00025, its top transaction throughput can reach 50,000 transactions per second, which is thousands of times faster than Ethereum and Bitcoin’s blockchains. Several unique solutions make this possible, such as the blockchain’s use of a proof-of-history element that puts time markers on every block. As a result, a new block is created every 400 ms, while it takes 10–15 seconds with Ethereum. Meanwhile, it retains all the positive features of proof-of-stake, including passive income through staking.

Two weeks ago, Solana debuted on the NFT market with the launch of the Degenerate Ape Academy collection. In just 10 minutes, 10,000 monkeys were sold, and the coin’s price jumped 40%. Institutional investors have since expressed interest in the cryptocurrency’s success, leading to Osprey registering Solana Trust with the SEC.



Bill Noble, Token Metrics’ top analyst, believes that Solana can only be stopped if the cryptocurrency market crashes. Otherwise, the coin will soon reach $145.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #48 on: September 01, 2021, 11:23:52 AM »
First came electricity, then came blockchain: how to invest in the tech revolution

Nowadays, everybody wants in on cryptocurrency. Thanks to the dramatic price movements of digital coins and the availability of crypto trading apps, people can make huge profit trading crypto. But what is the value of all this digital money beyond speculation?

This is a question that traders should consider, especially when it comes to understanding the differences between cryptocurrencies and how their integration into computer systems and financial systems could affect their value.

According to economics professor Jason Potts, co-director of the Blockchain Innovation Hub at RMIT University, blockchain (the distributed ledger system that all cryptocurrencies are based on) represents a ‘technological revolution’ on the level of the joint-stock company, the internet and even electricity.

In a recent interview with Cointelegraph, Potts highlighted how blockchain technology is even more revolutionary than the internet, which made it possible for communications and coordination for business and social affairs to move at lightning speed and practically zero costs at a previously inconceivable scale. But the actual work of making contracts and managing money is still done by real humans in different companies. Blockchain is what will really complete the digital revolution by fully digitising the economy.

Cryptocurrency has been around for over a decade now, but a revolution takes time, and we’re still in the early days. Electricity, for example, was developed in the 1860s. But it took about 50 years to become fully integrated into the global economy in the 1920s and ‘30s with the advent of the electric motor.

What makes blockchain so important is that it is an institutional, rather than industrial, technology. While blockchain doesn’t manufacture anything, it does provide a new way for people to organise and coordinate. For example, consider charter companies, which were first formed by European kingdoms for empire-building in the 16th century. Nowadays, we take for granted that most products, services, and jobs are provided by companies. So how will blockchain change the way we do business?

The real Blockchain Revolution: 3 key steps

Trust. When Bitcoin was invented as a decentralised alternative to fiat currency, there needed to be a way to establish trust and guarantees, i.e., who owns this money? The fact that every transaction with cryptocurrency is automatically recorded on a publicly accessible blockchain engenders trust in the system without the backing of a bank or government. Currently, a lack of trust costs a lot of time and money in the economy.

Speed and efficiency. With fiat currency, ownership, debt, payments, etc., are managed by a colossal, complex, and corruptible network of global human bureaucracy across banks, companies, and governments that draw up, verify and execute contracts and move money around. But blockchain eliminates the need for all these middlemen. Imagine that all the costs in terms of time and administration fees that are sunk into checking ownership, verifying identities and transactions, looking for and correcting human mistakes, etc., were all done away with. That is the new level that a blockchain-powered economic infrastructure could operate at.

Independence. Adopting blockchain technology could empower small businesses and individuals to operate and make contracts with each other without costly intermediaries. The power of large, hierarchical corporations, including big tech giants such as Google and Facebook, could be challenged by smaller companies, leading to an overall decentralisation of the economy.

How does crypto trading fit in?

For traders looking to capitalise on the upcoming shift in infrastructure technology that blockchain promises, it’s crucial to identify the cryptocurrencies that offer the best use cases. This also requires some long-term planning, as we’re looking at around a 10-year period for widespread blockchain adoption.

Bitcoin may have innovated blockchain technology but is limited in its use case for business. Instead, we need to look at Bitcoin’s successors. Taking a look at the 75+ instruments available on StormGain, we can find several interesting investments.

Ether (ETH) tokens are used to validate operations on the Ethereum blockchain, a network that enables anyone to build applications for decentralised finance (DeFi) operations. This includes self-executing smart contracts for exchanges, loans, payments and more. The Ethereum system itself is being upgraded to Ethereum 2.0 with efficiency improvements.

Mainstream financial institutions, including Visa, Mastercard, JP Morgan, and Microsoft, are already working with Ethereum. Because of its longevity, market cap, DeFi applications, and importance to the NFT industry, Ethereum will always be an attractive asset for anyone looking to invest in future technology.

AVAX, the native token of the Avalanche DeFi ecosystem, rallied from $13.41 to a high of $55.42 earlier this week as the total value locked in Avalanche soared to over $1.8 billion. StormGain also offers Yearn Finance (YFI), which fuelled the 2020 DeFi boom and remains one of the most valuable cryptocurrencies at $36,313.50 per coin at the time of writing. Other strong DeFi instruments available on StormGain include UMA, COMP, SNX, DOT, VET, UNI and ZRX, among others.

The best platform to profit from the blockchain future

StormGain offers various perks for investing in blockchain innovation. For example, integrated crypto wallets that earn you up to 12% APR interest on your crypto holdings — an excellent proposition if you’re holding with an eye to the blockchain transition over the next few years.

StormGain also boasts easy-to-read trading signals and analytical tools on its mobile app and web platform that help you evaluate which of the competing DeFi currencies to back.

If you’re looking to invest in the next big economic revolution, register with StormGain in just a few seconds and stake your claim in the blockchain future!

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Re: StormGain is a crypto trading platform for everyone.
« Reply #49 on: September 03, 2021, 02:38:36 PM »
Hidden Threat: Tether is reluctant to disclose its reserves structure

Tether is the leading bridge currency between fiat money and crypto assets. It boasts a market capitalisation of $66 billion and a daily turnover of $88 billion. The stable operation of crypto exchanges depends on the financial state of affairs at the namesake company because an overwhelming majority of exchanges use Tether as their base currency. According to the company’s initial claims, every USDT is backed by one US dollar. However, audits have proven this claim to be untrue. Now, the company is trying to hide the what things are actually like from the public.



This year, the New York Attorney General’s Office (NYAG) finished its investigation into Tether. As result of a pre-trial settlement, Tether has agreed to pay out $18.5 million and report on its reserves to the authorities regularly (read more about this in our article). After that, it was found that half of the USDT reserves were composed of undisclosed commercial papers, and only less than 4% were held in fiat funds.



Tether’s fiat reserves exceed its liabilities, but their structure raises a lot of questions. For example, in the event of a crisis, the inability to convert USDT to USD at a 1:1 rate will cause a rapid fall in the stablecoin’s valuation and damage confidence in crypto exchanges. As a result, cryptocurrencies will go through a bigger correction than the one that occurred in May 2021.



It’s not surprising that the community keeps a close watch on the developments in the Tether case, but the company doesn’t feel comfortable under such scrutiny. On 31 August, representatives from the organisation filed a request to the New York Supreme Court to the NYAG from releasing access to information about the company.

'...we vigorously oppose the notion that proprietary information of our company, or any company in our community, should be made public simply to satisfy Internet trolls or other detractors.'

Now, the disclosure of the details and commercial papers that constitute half of USDT’s backing will depend on the Supreme Court’s decision. If the assets turn out to be of low quality, it will damage confidence in the token and cause a backlash on the cryptocurrency market.


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« Reply #50 on: September 07, 2021, 12:06:43 PM »
Ethereum putting pressure on Bitcoin

Ethereum is growing more confidently than Bitcoin, and there are objective reasons for this that could send the altcoin to the highest market capitalisation in the long run. We told you about them at the start of this year, and now it’s time to update the data.



This month, the altcoin has grown twice as much as Bitcoin has, experiencing 50% growth. The main driver has been the London hard fork that took place on 5 August. It introduced a deflationary mechanism resulting in the base fee now simply being burnt, while miners claim tips on top of it. In 29 days, 174,000 ETH, or $565 million, have been burnt.



The gap at the 12-month distance has been even more impressive, showing Ethereum go up by 820% versus 350% for Bitcoin. The altcoin owes its popularity to its smart contracts, whose functional capabilities have caused a boom in the DeFi (decentralised finance) and NFT (non-fungible token) markets.

DeFi allows participants to exchange tokens, receive passive income and lend and borrow without intermediaries. The algorithms written into the smart contracts are in charge of executing the operations. The market is so promising that Bank of America and ING Bank are already declaring DeFi a threat to the traditional banking sector, which has grown from $8 billion to $97 billion in 18 months.



NFTs are unique tokens that are normally used as copyright tags. They are easy to gift, sell or buy. This year, auctions with digital pictures have already been held at such venues as Christie’s and Sotheby’s. The most expensive NFT was purchased for more than $69 million from Mike Winklemann.

The NFT power is in its accessibility and dilution of geographical and legal boundaries. For example, artists from Zimbabwe have been making a living on this technology. Huliodraws sold his latest work, Meme Reunion, for 0.55 ETH. And teenagers can even make pocket money without having a bank account. By way of example, a 12-year-old boy from London received $400,000 from the sale of Weird Whales.



The practicality of smart contracts has led to the Ethereum network seeing more transactions than Bitcoin since 2017, with the discrepancy growing ever since.



The altcoin can take the leading position in capitalisation after the transition to the proof-of-stake protocol scheduled for 2022. Now, the scalability problems have led to high network workloads, with the average fee once again exceeding $30. Higher fees slow down the adoption of Ethereum and limit its usage.

What do you think about Ethereum’s chances of getting ahead of Bitcoin? Let us know in the comments!


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Re: StormGain is a crypto trading platform for everyone.
« Reply #51 on: September 09, 2021, 03:26:23 PM »
El Salvador Day and Bitcoin’s Crash

For El Salvador and Bitcoin, 7 September became a day to remember: for the first time in history, a cryptocurrency has been adopted as legal tender. Meanwhile, Bitcoin went through the biggest correction in a single day since the Chinese crypto recession because El Salvador was neither technologically nor mentally ready to accept cryptocurrency. El Salvador’s president Nayib Bukele tried to soften the negativity from the correction by stating that the country was “buying the dip”.



Salvadorians are migrating to other countries in search of work but continue to send money transfers to their relatives. In 2019, they amounted to 20% of the country’s GDP, or $6 billion. The transfers in USD remained critically unprofitable, enriching the banking structures in the United States. For Nayib Bukele, this became one of the main reasons for integrating Bitcoin. Now, the Bitcoin network’s fee constitutes $3 while it costs $18 to send money from Los Angeles via Western Union, $7 via Ria, and $5 via Xoom and Boss.

Per the country’s new law, retailers will have to accept USD as well as BTC as payment. The government will be responsible for paying the conversion costs, for which a $150 million reserve fund has been created. Retailers will be able to choose the legal tender they receive. Apparently, with cryptocurrency’s growing adoption, the government’s expenses will also grow. Meanwhile, high volatility will amplify the problem.



On the day Bitcoin was adopted as legal tender, its volatility exceeded 20%. For retailers, this could signify a loss of profit of a similar amount if they had set the price of goods in BTC. This is why most retailers have preferred to receive fiat funds.

For many Salvadorans, crypto technologies still largely remain unknown territory, and pensioners are afraid that these innovations are directed at taking their USD pensions from them. That’s why there were several protests in El Salvador on the day, with several thousand people rallying in front of the Supreme Court.

Nayib Bukele asked the IMF to help integrate Bitcoin into the financial system, but his request was turned down. Even worse, $1 billion in financial aid that the IMF was considering for El Salvador has been held off for an unknown period. In July, Moody’s credit rating agency lowered El Salvador’s investment rating because of mounting financial risks, which has badly affected demand for its government bonds.

These circumstances are intensifying fears that the government will collapse, the country will fall into crisis and the Bitcoin experiment will flop. All these sentiments caused the cryptocurrency to record the biggest single-day drop since May.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #51 on: September 09, 2021, 03:26:23 PM »


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Re: StormGain is a crypto trading platform for everyone.
« Reply #52 on: September 10, 2021, 03:39:08 PM »
ETH and altcoins pull ahead as Bitcoin stagnates

Ether is enjoying a hot streak, breaking above $3,900. That’s just shy of the cryptocurrency’s all-time high in May this year. This comes as the mainnet of Ethereum’s Layer 2 scaling solution, Arbitrum One, opens to the public. Part of the much-anticipated upgrade to Ethereum 2.0, the new scaling model introduced by the London hard fork, aims to lower transaction fees to users all across the network. Other changes brought about by the new EIP-1559 update (Ethereum Improvement Proposal) include reduced ETH token supply. This contributes to driving up the value of each coin. In addition to the upgrades, Ether has been bolstered both by the growth of decentralised finance (DeFi) and NFTs, two crypto-industry sectors that are primarily developed on the Ethereum blockchain.

Meanwhile, Bitcoin continues to trade sideways, attempting a rally and falling just shy of the $50K threshold. The original cryptocurrency has seen a decline in volatility over August, but in the next month, when traders return from their summer holidays, an uptick in activity could soon set the price in motion. In the meantime, ETH and certain altcoins are enjoying their time in the sun.

Is a new all-time high on the horizon?

In May, Ether recorded its last all-time high of $4,372. Now it’s edging towards the $4,000 resistance level once more. Will it breach it and set a new record? Some analysts are enthusiastic about Ethereum, noting how the recent system updates make the ETH cryptocurrency more attractive than ever.

Nick Agar, the founder of cryptocurrency firm AXIA Coin, noted how increased scarcity has increased demand from investors. Agar was quoted in Marketwatch as saying that, “with Ethereum’s recent burn rates resulting in over $561 million burnt away from circulation, a basis has been formed for the increasing accumulation of the token by investors”.

The ‘burn rate’ refers to how the EIP-1559 upgrade changes the Ethereum network’s transaction mechanism. A base fee is charged for every block found on the network, with the remainder being ‘burned’ (as in, deleted), reducing the overall supply of Ether in circulation. At the time of writing, the Ethereum network has burned over $500 million of ETH, a number that continues to climb along with the price increase.

Crypto analytics firm IntoTheBlock noted that several metrics indicate a bullish tendency for ETH. In the company’s Telegram channel, analysts highlighted that the volume of large Ether transactions reached $16.2 billion, the highest since 22 June and that the number of addresses with ETH holdings for over one year is also approaching an all-time high.

Katie Stockton, founder and managing partner of Fairlead Strategies, predicted a promising future for ETH in her Monday notes. She stated that “Long-term momentum is strengthening and trend following measures like the 200-day (~40-week) MA and weekly cloud are rising”.

ETH isn’t the only altcoin enjoying a surge as Bitcoin’s market dominance slumps. Cardano recently doubled in value to become the third-largest coin by market capitalisation, just behind Ethereum and Bitcoin. Avalanche grew even more, tripling over August, while Dogecoin is also enjoying surges in value. It’s the perfect time to think beyond Bitcoin and diversify one’s crypto portfolio.

Trade ETH and other altcoins on StormGain

If you’re ready to profit from Ethereum’s upward surge, StormGain is still the best one-stop crypto platform on the market to buy, sell and hold a great choice of digital assets, including ETH, BTC, Cardano, Avalanche and many more! Thanks to StormGain’s profit-sharing model, users only pay fees on profitable trades and gain some of the best bonuses in the industry through the StormGain loyalty programme. That includes up to 12% APR on crypto holdings, bonus funds and even free BTC via the StormGain cloud miner. Not a StormGain user yet? Register your account in just a few seconds to see the full range of features and try out the user-friendly interface with a demo account!

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« Reply #53 on: September 13, 2021, 03:52:47 PM »
‘Ethereum Killer’ Solana has risen by 53% in 1 week

Most cryptocurrencies’ prices went into the red last week, but Solana continues to rise beyond forecasts. At the end of August, we shared with you the opinion of Bill Noble from Token Metrics, who stated that the coin would reach $145. It took five days for the coin to make it there. Now, the forecast from Mercuryo CEO, who expects SOL to go for $500 by the end of the year, can be used as the next target.



Solana’s surge started with the debut of non-fungible tokens (NFTs) when a collection of 10,000 monkeys was sold in eight minutes. Despite a number of mistakes, the network proved its ability to process a large number of transactions in a short period of time. When the project is fully deployed, its throughput will reach 60,000 transactions per second. This is faster than Visa, Ripple, Ethereum and Bitcoin combined.



Solana operates on a proof-of-stake protocol with a unique proof-of-history layer. This allows it to process transactions as they come without waiting for the block to be finalised, giving Solana an edge in speed and transaction costs, which cost less than one cent on average.

Ethereum is still dominant in the NFT and DeFi markets; it has 7,000 nodes and 90,000 validators versus Solana’s 600 nodes and 1,000 validators. However, Ethereum’s high network fees and constantly shifting PoS transition date are forcing start-ups to search for faster blockchains.



Thus, DeFi Land has collected $4 million worth of investment to launch a finance game on Solana. DeFi Land teaches users how to interact with the decentralised finance market and earn money on it while playing. This should attract small players, though 60% of DeFi transactions are currently backed by institutional capital.

In the NFT market, Solana is also starting to push Ethereum. According to Nathan Rossa, Solana is better suited for NFTs because it’s cheaper and simpler. The CEO of FTX also claimed on 6 September that they were launching their own platform for NFT operations with support for Solana.

Many have already become tired of waiting for Ethereum to finish its PoS transition. On top of that, there are other blockchains now that don’t start out with limitations that the leading altcoin has. All of this makes us see Mercuryo CEO’s forecast of $500 for Solana by year-end seem reasonable.


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« Reply #54 on: September 24, 2021, 12:18:07 PM »
The Bitcoin billionaires and a boat: a crypto utopia on the sea

In the autumn of 2020, this author spotted an unusual sight: a cruise ship in drydock in Gibraltar. It was rare enough given what the rather rough year it had been for the cruise industry. But this vessel was rarer still. Its hull was emblazoned with the Bitcoin symbol and the name ‘Satoshi’. Could it be that the famously secretive Bitcoin creator had come out of hiding and decided to travel the world in style?

Not quite. Instead, this Bitcoin cruise ship has a fascinating story all of its own, one intimately bound with the philosophy of cryptocurrency and the radical ideas of financial and political freedom behind it.

Have you ever dreamed of starting your own country? Getting away from taxes, bureaucracy and oppressive laws to start anew with a small community of your peers? For a certain type of person, this sounds ideal, but you won’t find much unclaimed land in the modern world to start your new utopia. Then again, most of the planet is covered in water…

The concept of seasteading, or founding independent communities of floating cities — effectively fleets of dwellings that existed outside of countries where homesteads could ‘vote with their house’ whether to belong to the community or join another — became popular among some Silicon Valley libertarians in the last two decades.

This idea of political freedom on the seas always had an economic element. It’s not for nothing that the word ‘offshore’ is a loaded term in financial circles. So, it comes as no surprise that cryptocurrency fans, who venture forth from the same tech-savvy world with a similar desire to escape the overreach of banks and governments, would also become interested in seasteading.

Grant Romundt, Rüdiger Koch and Chad Elwartowski were three crypto investors who had made their fortunes as early tech entrepreneurs. In 2020, they tried to make the seasteading dream come true when they bought the Pacific Dawn, a 245-metre-long cruise ship that the trio snapped up at a relative steal thanks to the decline of the cruise industry during the early days of the COVID-19 pandemic.

These enterprising crypto billionaires planned to sail the ship to Panama, where it would form a floating community just off the coastline. This sea society would trade only in cryptocurrencies, pay no tax and become the centre of a new way of life that others could attach their own floating homes to. The founders hoped to attract other tech-savvy digital nomads who were innovators in the tech world: startup founders, remote tech workers, crypto traders, miners, etc.

The Pacific Dawn was renamed the MS Satoshi in tribute to Satoshi Nakamoto, the handle used by Bitcoin’s mysterious inventor. While many nations would be (and have been) hostile to independent tax-evading seasteads near their territory, the government of Panama even welcomed the proposal, with the Ministry of Tourism touting that it would attract visitors to appreciate the country’s coastline.

It’s been almost a year since the plan was set into motion, so what happened? The sad news is that, even if living a tax-free life in the tropics on a permanent cruise ship with fellow crypto traders sounds like paradise, you probably shouldn’t rush to buy a cabin.

Initially, the MS Satoshi attracted considerable interest from libertarian-minded individuals who wished to either contribute to the project or rent one of the ship’s 777 cabins to reside on it. Monthly rent ranged from $570 a month for cabins with no windows to $719 per month for cabins with a balcony. Electricity and connectivity had been arranged and would scale up with individual users so that residents with power-hungry mining rigs would pay their fair share.

However, there are many practicalities of day-to-day life at sea that cause concerns for potential investors. A cruise holiday may be entertaining for a week or so, but every day? There were no personal cooking facilities, just the ship’s restaurant (which offered a 20% discount for residents). Microwaves were not allowed in cabins for safety reasons. Pet regulations were strict and impractical. And that’s to say nothing of seasickness.

Koch and Co. also discovered that even the ocean was not free of legal red tape; efforts to have the ship re-registered as a stationary residence failed, and the costs of properly maintaining a cruise ship month-to-month started to add up. Finally, there was the issue of waste management. Even the indulgent nation of Panama wouldn’t allow the dumping of waste in their blue waters so beloved by tourists. Instead, the Satoshi would have to make a 12-mile journey every 20 days or so to dump the unusable sewage into international waters.

For the complete story of the MS Satoshi, we recommend this longer article in The Guardian that details all the problems and personalities involved. In the end, the hurdles were too many, and the trio realised that the project was just not going to work out. By Christmas 2020, owner Romundt enjoyed a last hurrah on the cruise ship before he and his colleagues sold the vessel.

Although the MS Satoshi project didn’t succeed, the story still inspires crypto enthusiasts who wish to use their wealth to bring to life their radical dreams of independence and new ways of living. It also serves as a cautionary tale for investors to do thorough research before embarking on any enterprise.

Here at StormGain, our platform provides all the tools you need to build the kind of wealth that makes such dreams possible. Not only do we offer the most favourable rates and bonuses to maximise your gains on crypto trading, but also informational articles, webinars and training to keep clients informed to make good decisions. What will you do with the wealth won trading on StormGain? Go for that new car? Pay down your mortgage? Start a business? Or would you try to build a completely new way of life? The choice is yours!

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Re: StormGain is a crypto trading platform for everyone.
« Reply #55 on: September 27, 2021, 04:00:51 PM »
Bitcoin Indices Signal Readiness for Growth

A new wave of increased interest of the regulators towards cryptocurrencies and the restrictions in the operation of a number of crypto exchanges have led to a correction in Bitcoin’s price from $50,000 to $40,000. However, a number of indices signal a near correction end.



Extreme levels of the fear & greed index signal a nearing reversal. The greed was as its peak when Bitcoin was selling for $60,000, and then fear took over at the $30,000 price level. Now, the fear level is again close to the summer lows, which generates support at the current price levels.



The most cautious holders are the ones with relatively small amounts (<10 BTC). After May’s drawdown, they have turned to buying again, having lifted their share to the historical 13.9%.



But the whales (≥ 1000BTC) continue to grow their reserves too. Their ranks have shrunk by 15% since February, but the reserves of those who remained have gone up on the average from 3,236 BTC in February to the current 3,722 BTC.



A notable example of a true holder is MicroStrategy, which bought additional 5,050 BTC for $48,000 in September. The company’s current reserve amounts to 114,042 BTC (≈$5 billion), and the average purchase price of the coin is $27,713. The company CEO Michael Saylor has written: ‘If I chose gold instead of Bitcoin last year, it would have led to multibillion losses.’

This is a really appropriate time: Jerome Powell at his last press conference went against the market expectations and once again did not establish a date for the winding down of the monetary stimulus program. The regulator continues to print new dollars in amount of no less than $120 billion a month, which continuously undermines the U.S. currency against most financial instruments.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #56 on: September 29, 2021, 10:45:49 AM »
China Is Clamping Down on Cryptocurrency

The Chinese authorities continue to put pressure on the cryptocurrency community, restricting the citizens in their ability to invest and withdraw funds abroad. In May, the State Council banned the financial organisations from keeping and facilitating payments in cryptocurrency, and the National Development and Reform Commission offered a plan for complete liquidation of mining in China.

On 24 September, the list of restrictions was extended:

- Provision of crypto services by banks and financial organisations, including payment settlements between organisations in any way engaged in cryptocurrencies
- Any commercial activity involving cryptocurrencies, be it a sale, exchange or informational support
- Fundraising and donations in cryptocurrencies
- Provision of services to the residents of China by foreign cryptocurrency exchanges
- Any cryptocurrency adverts, including the monitoring and «early warnings» of their identification (this requires constant backup copying of mining mentions).

This is not a complete list of restrictions that has been published. This time not only legal entities but individuals alike have gone under attack. In particular, technical, marketing and other types of support of foreign cryptocurrency exchanges have been classified as illegal activity.

Bitcoin reacted modestly to the new restrictions whose history began in 2013 and has already restored its positions. And the tokens of decentralised exchanges received a strong boost: UNI had added 22%, and SUSHI – 18% in 24 hours.



The Chinese authorities are restricting financial organisations from working with their citizens in the cryptocurrency sphere, but they cannot restrict the p2p market where decentralised exchanges (DEXes) like Uniswap reign. Essentially, this is exchange between people via decentralised protocol. There is no centre that could be banned or restricted in its operation. The director of research and development at Synergy Capital believes that the world is in for a big shift into everything decentralised.

The largest exchange by the number of registered Chinese users Huobi announced on 26 September that it would close all of the accounts of its users from the Celestial Empire. A part of them will be transferred to a DEX, which will create additional support for the UNI and SUSHI tokens. Meanwhile, Justin Sun (Tron founder) notes that new restrictions will not substantially affect the market as the people still have the right to buy, sell and exchange cryptocurrency.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #57 on: October 01, 2021, 12:19:57 PM »
Investors Are Running away from Risks, Gold and Bitcoin Are Falling

In the past 12 months, the American stock market has grown by over 30%, and the government debt has grown from 108% to 126% of the GDP. The massive support of the economy has led to the U.S. Department of the Treasury having money only until the middle of October. If Congress does not approve of borrowing above the limit, the government will have to suspend work (the shutdown mode), and in the event of the aggravation of the situation, it will declare a default.



If case of the negative scenario, the federal government will have to take an unprecedented cutdown in spending, which, according to Moody’s, will lead to the loss of 6 million jobs, the unemployment rate rising to 9% and the stock market falling by 30%.



At the moment, the Republicans are blocking the passage of the budget project to get a series of concessions from the Democrats. The deadline date set by the Secretary of the Treasury Janet Yellen is 18 October.

However, one should know that government shutdowns and the elevation of the state debt ceiling are common phenomena for the USA. Thus, the government suspended work three times in the last four years, and twenty times since 1977. Every time, Congress was able to smooth the edges to restart the economy until the next elevation of the budget debt.

Until a compromise is found, the markets will stay under pressure.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #58 on: October 04, 2021, 04:55:38 PM »
Miners Stockpiling Ethereum in Anticipation of Protocol Shift

Ethereum’s transition to a proof-of-stake (PoS) algorithm is expected to take place in early 2022, after which validators will start to be responsible for processing transactions. To earn passive income on the Ethereum network, you’ll no longer need graphic cards or ASICs. Instead, you’ll just need to stake coins in blocks of 32 ETH (~$96,000). Many miners are already getting preparing for the change and staking their ETH.



The leading altcoin has a capitalisation of $354 billion and is still one of the most promising in terms of growth. However, in September, it somewhat lost ground in terms of the rate of growth to its ‘killers’, Solana (+23%) and Avalanche (+52%). Currently, Ethereum’s operation depends on miners, and the limited speed of the proof-of-work (PoW) algorithm is leading to higher transactional costs. This opens the path for alternative projects, such as Solana, which boasts an average network fee of $0.00025 and operational throughput of 60,000 transactions per second.



Nevertheless, Ethereum boasts a lot of authority and support, with 7,000 nodes and 90,000 validators versus Solana’s 600 nodes and 1,000 validators. After the transition to PoS and Ethereum 2.0’s complete deployment, the network’s capacity could reach 100,000 transactions per second.

For these reasons, miners aren’t getting rid of their mined Ethereum at current prices but instead are continuing to increase their reserves and stake coins. According to estimates by Tom’s Hardware, after the London hard fork, miners’ revenues fell by 15% because of the nullification of the auction-based fee. That said, they didn’t try to compensate for their losses by selling off their coins. On the contrary, since improvements were implemented, miners have collectively added 2 million more ETH, raising the figure to 22.3 million ETH or 1/5 of the network’s total supply.



Users continue to stake their ETH in anticipation of the transition to a new protocol. They’ve already staked a total of 7.8 million ETH, which is equivalent to $23.5 billion. These funds can become available for withdrawals only after the transition to PoS, which is why many users are refraining from staking their coins at a higher rate.



According to the roadmap, before the two chains merge, the Ethereum network only has to go through one last hard fork, Altair, which is scheduled for the end of October. Reportedly, the transition to PoS should happen early next year. If everything works out smoothly and the deadlines don’t shift again, Ethereum has a strong possibility of seeing its price increase and even competing for leadership with Bitcoin itself.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #59 on: October 05, 2021, 10:54:52 AM »
Crypto is changing the game: how blockchain technology gives fans new ways to connect with their favourite sport

It's an exciting time to be a football fan. The sport is embracing new technology that is enabling fans to show their love for the beautiful game in totally new ways. But even as the digital collectable market expands, the crypto community can still offer fantastic physical prizes.

Are NFTs the future of football fandom? The big finance firms seem to think so. SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico were all lead investors in Sorare, a European fantasy football platform that offers digital collectables in the form of non-fungible tokens (NFTs). Sorare's recent $680 million Series B raise was the largest funding round in NFT industry history, with the company's value clocking in at $4.3 billion.

Sorare's NFTs take the form of digital trading cards representing players that fans can assemble into squads and compete with each other, with scores and prizes based on the athletes' real-life performances. The platform is growing in popularity, with over 600,000 registered users taking on the role of fantasy managers. The Paris-based company claims to have traded over $150 million worth of digital cards on its platform year-to-date.

Sorare's success is a sign that the global sports NFT market is continuing to expand. Several European football clubs are making deals and paying players in cryptocurrency, while fan organisations are using NFTs to validate unique memorabilia. But it's not just football. NFT collectables, unique video clips of brilliant game moments and other digital moments are becoming a bigger part of the wider world of sports, including the NBA and NFL in the United States.

But in Europe, football (or as the Americans call it, soccer) reigns supreme… and with good reason, if we say so ourselves! Sorare's trading/management game hosts NFTs representing some of the biggest teams on the continent, including Bayern Munich, Juventus, Real Madrid and Liverpool. One such team featured on the fantasy football platform is the inimitable S.S. Lazio, StormGain's own football partner. And because Sorare's game is based on real-life performances, we'll be cheering with all the Lazio collectors for the success of our Italian heroes this season, especially if they happen to come up against other crypto-sponsored teams!

While NFTs are a cool way to use blockchain technology to bring the game closer to fans at home, we think that there's something about actually being present and physically close to the action that can't be beat. That's why, as the new football season kicks off, we'd like to remind you to watch this space for some exciting announcements.

Win physical collectors' items and meet the star players

Crypto and football go great together, but NFTs aren't the only way they interact. Thanks to StormGain's partnership with S.S. Lazio, you can also win fantastic football prizes just by being an active trader on the StormGain platform.

The perks on offer for StormGain clients include jerseys and footballs signed by the star players themselves — real, physical ones that you can hold in your hand and display proudly in your home. But there's more than these collectors' items up for grabs!

StormGain users will also have the chance to get close to the action and hobnob with the stars with top prizes such as VIP Private Suite Hospitality for Lazio's home matches, Category 1 tickets for each home match and access to private tours and special events at Stadio Olimpico. These include meet-and-greets with current and former Lazio players and staff.

Qualifying for these fantastic prizes couldn't be easier. Every active StormGain user can win, so make sure to maintain your trading volume and keep an eye out on the app and the website for our upcoming announcements of giveaways, contests and tournaments over the football season. If you're not already a StormGain user, then register in just a few seconds to become a part of the crypto community with the fairest fees and best perks!

Offering over 140 crypto instruments with up to 200x leverage, all wrapped in a fast, user-friendly app, StormGain is the best place to trade and profit from the cryptocurrency market and win some great sporting experiences at the same time. Join the team as we welcome the new seasons of profit and football with S.S. Lazio!

 

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