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A look into Mark Cuban’s evolving beliefs about Bitcoin & crypto assets

“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and

The post A look into Mark Cuban’s evolving beliefs about Bitcoin & crypto assets appeared first on AMBCrypto.

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“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and Wall Street stalwarts. He stated why the idea “that a crypto asset could be a store of value” is not “crazy.”

Old Schoolers say that you need to have something “tangible” in order for there to be value and we will deal with fraud after the fact. The New Generation…has known their entire lives that what has been of greatest value to them has been digital .

According to Cuban, a stock was also a “digital store of value” and further said:

They also know that the more they work together , the less power Wall Street has. They know that fat and happy Wall Street has become slow, stale and set in their ways.

Cuban believed that Bitcoin “having a decade-plus long history of transactions and wealth generation’’ was a store of value. Young investors don’t find it any different in getting advice from peers on social media hubs or from an influencer speaking on mainstream media. He believed that the modern investors know how a smart contract and the digital asset it reflects “are a better investment than the old school narrative of “STFU” or see, touch or feel uses. 

Cuban’s opinions are in stark contrast to gold advocate Peter Schiff’s who has often criticized Bitcoin as a bubble and a Pyramid scheme. In a recent tweet he implied that the investors in the digital were actually falling for a “Bitcoin scheme.

Mark Cuban’s evolving beliefs about crypto assets, Bitcoin in particular began in 2019 when Cuban referred to the asset as a collectible. At the time, he gave Bitcoin “no chance” of becoming a reliable currency. However, he recently claimed that as long as people accepted Bitcoin “as a digital version of gold,” it was investable. He still maintained that such assets “are rarely used as currency” such as Bitcoin, Ether and “tokens” that “support DeFi.”

Source: https://ambcrypto.com/a-look-into-mark-cubans-evolving-beliefs-about-bitcoin-crypto-assets

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Kraken Daily Market Report for February 24 2021


Overview


  • Total spot trading volume at $2.43 billion, up 18% from the 30-day average of $2.06 billion.
  • Total futures notional at $742.6 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Augur (+22%), Icon (+20%), Lisk (18%), and Compound (18%).

February 24, 2021 
 $2.43B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$50855. 
↑4.0% 
$927.5M
ETH 
$1694.5 
↑7.3% 
$442.0M
USDT 
$1.0009 
↑0.06% 
$308.7M
ADA 
$1.0666 
↑11% 
$140.5M
DOT 
$36.359 
↑5.2% 
$112.8M
USDC 
$1.0002 
↑0.01% 
$58.0M
XDG 
$0.0552 
↑16% 
$46.8M
XRP 
$0.4888 
↑2.7% 
$45.1M
LTC 
$187.16 
↑5.4% 
$44.2M
LINK 
$28.266 
↑8.8% 
$43.1M
BCH 
$546.64 
↑5.9% 
$19.9M
ATOM 
$20.971 
↑4.1% 
$17.4M
XLM 
$0.4278 
↑11% 
$17.0M
FLOW 
$22.203 
↑3.6% 
$14.8M
UNI 
$26.741 
↑7.6% 
$13.7M
GRT 
$1.9695 
↑16% 
$13.2M
AAVE 
$398.38 
↑9.2% 
$9.83M
ALGO 
$1.1312 
↑12% 
$9.67M
KSM 
$259.95 
↑8.0% 
$9.22M
XMR 
$218.18 
↓1.3% 
$9.14M
DASH 
$253.84 
↑9.8% 
$8.88M
EOS 
$4.0463 
↑5.0% 
$8.57M
XTZ 
$3.8502 
↑8.5% 
$8.23M
TRX 
$0.0492 
↑9.5% 
$4.84M
DAI 
$1.0012 
↓0.01% 
$4.78M
ICX 
$1.7515 
↑20% 
$4.63M
QTUM 
$5.5107 
↑7.1% 
$4.55M
SNX 
$20.534 
↑13% 
$4.44M
OMG 
$5.0897 
↑8.7% 
$4.29M
BAT 
$0.5229 
↑9.5% 
$4.29M
SC 
$0.0113 
↑3.3% 
$3.78M
WAVES 
$10.304 
↑10% 
$3.76M
NANO 
$6.0203 
↑16% 
$3.59M
YFI 
$36385. 
↑8.8% 
$3.55M
ZEC 
$131.65 
↑3.6% 
$3.33M
FIL 
$37.762 
↑6.3% 
$3.21M
COMP 
$452.55 
↑18% 
$2.38M
OXT 
$0.5371 
↑8.4% 
$2.12M
ETC 
$12.339 
↑8.4% 
$2.07M
LSK 
$3.1380 
↑18% 
$1.93M
KAVA 
$3.7965 
↑17% 
$1.57M
MANA 
$0.2622 
↑13% 
$1.53M
REP 
$35.637 
↑22% 
$1.49M
CRV 
$2.2995 
↑7.7% 
$1.45M
KNC 
$1.7123 
↑6.8% 
$982K
MLN 
$41.951 
↑12% 
$834K
PAXG 
$1804.9 
↓0.2% 
$778K
KEEP 
$0.3739 
↑10% 
$710K
STORJ 
$0.6370 
↑12% 
$670K
ANT 
$4.7319 
↑10.0% 
$576K
BAL 
$40.659 
↑16% 
$568K
GNO 
$141.23 
↑11% 
$508K
REPV2 
$26.630 
↑8.9% 
$274K
TBTC 
$54060. 
↑9.8% 
$244K

The post Kraken Daily Market Report for February 24 2021 appeared first on Kraken Blog.

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Overview


  • Total spot trading volume at $2.43 billion, up 18% from the 30-day average of $2.06 billion.
  • Total futures notional at $742.6 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Augur (+22%), Icon (+20%), Lisk (18%), and Compound (18%).

February 24, 2021 
 $2.43B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$50855. 
↑4.0% 
$927.5M
ETH 
$1694.5 
↑7.3% 
$442.0M
USDT 
$1.0009 
↑0.06% 
$308.7M
ADA 
$1.0666 
↑11% 
$140.5M
DOT 
$36.359 
↑5.2% 
$112.8M
USDC 
$1.0002 
↑0.01% 
$58.0M
XDG 
$0.0552 
↑16% 
$46.8M
XRP 
$0.4888 
↑2.7% 
$45.1M
LTC 
$187.16 
↑5.4% 
$44.2M
LINK 
$28.266 
↑8.8% 
$43.1M
BCH 
$546.64 
↑5.9% 
$19.9M
ATOM 
$20.971 
↑4.1% 
$17.4M
XLM 
$0.4278 
↑11% 
$17.0M
FLOW 
$22.203 
↑3.6% 
$14.8M
UNI 
$26.741 
↑7.6% 
$13.7M
GRT 
$1.9695 
↑16% 
$13.2M
AAVE 
$398.38 
↑9.2% 
$9.83M
ALGO 
$1.1312 
↑12% 
$9.67M
KSM 
$259.95 
↑8.0% 
$9.22M
XMR 
$218.18 
↓1.3% 
$9.14M
DASH 
$253.84 
↑9.8% 
$8.88M
EOS 
$4.0463 
↑5.0% 
$8.57M
XTZ 
$3.8502 
↑8.5% 
$8.23M
TRX 
$0.0492 
↑9.5% 
$4.84M
DAI 
$1.0012 
↓0.01% 
$4.78M
ICX 
$1.7515 
↑20% 
$4.63M
QTUM 
$5.5107 
↑7.1% 
$4.55M
SNX 
$20.534 
↑13% 
$4.44M
OMG 
$5.0897 
↑8.7% 
$4.29M
BAT 
$0.5229 
↑9.5% 
$4.29M
SC 
$0.0113 
↑3.3% 
$3.78M
WAVES 
$10.304 
↑10% 
$3.76M
NANO 
$6.0203 
↑16% 
$3.59M
YFI 
$36385. 
↑8.8% 
$3.55M
ZEC 
$131.65 
↑3.6% 
$3.33M
FIL 
$37.762 
↑6.3% 
$3.21M
COMP 
$452.55 
↑18% 
$2.38M
OXT 
$0.5371 
↑8.4% 
$2.12M
ETC 
$12.339 
↑8.4% 
$2.07M
LSK 
$3.1380 
↑18% 
$1.93M
KAVA 
$3.7965 
↑17% 
$1.57M
MANA 
$0.2622 
↑13% 
$1.53M
REP 
$35.637 
↑22% 
$1.49M
CRV 
$2.2995 
↑7.7% 
$1.45M
KNC 
$1.7123 
↑6.8% 
$982K
MLN 
$41.951 
↑12% 
$834K
PAXG 
$1804.9 
↓0.2% 
$778K
KEEP 
$0.3739 
↑10% 
$710K
STORJ 
$0.6370 
↑12% 
$670K
ANT 
$4.7319 
↑10.0% 
$576K
BAL 
$40.659 
↑16% 
$568K
GNO 
$141.23 
↑11% 
$508K
REPV2 
$26.630 
↑8.9% 
$274K
TBTC 
$54060. 
↑9.8% 
$244K

The post Kraken Daily Market Report for February 24 2021 appeared first on Kraken Blog.

Source: https://blog.kraken.com/post/8041/kraken-daily-market-report-for-february-24-2021/

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New Crypto Rules in Thailand Could Require Traders to Show Income Before Opening Trading Accounts

New Crypto Rules in Thailand Could Require Traders to Show Income Before Opening Trading AccountsThailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income. Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market According to a Bloomberg […]

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Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income.

Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market

According to a Bloomberg report, the Securities and Exchange Commission (SEC) of Thailand is likely preparing the ground to require investors to show their income or assets before opening accounts.

Ruenvadee Suwanmongkol, the secretary general of the country’s financial watchdog, pointed out that anyone who isn’t allowed to trade cryptocurrencies via their accounts can invest through licensed managers. She added:

It’s a big concern as most crypto investors on domestic exchanges are very young, such as students and teenagers. We realize those people love innovations and technology, but investments in these assets have enormous risk.

Moreover, the general secretary said that non-qualified crypto traders could invest via financial advisers only if they’re licensed by the SEC.

The watchdog is set to unveil its new rules on crypto trading over the week, ahead of a public hearing scheduled for March. Officials involved in the meetings are expected to evaluate recommendations from local exchanges and brokerages.

Although it’s not confirmed, the general secretary suggested that investors have to prove some knowledge of the market before being allowed to open crypto accounts for trading.

Six Licensed Crypto Exchanges Operating in Thailand so far

The rhetoric from the Thai SEC is now shifting to a cautious one towards the cryptocurrencies’ risks. However, they keep granting licenses to crypto businesses in the nation. So far, in terms of digital asset exchanges approved, there are only six operating legally in Thailand.

They are Bitkub, BX, Satang Pro, Huobi Thailand, ERX, and Zipmex. All six licensed crypto exchanges are approved for both cryptocurrencies and digital tokens, except for ERX, which is only approved for the latter.

The SEC distinguishes cryptocurrencies as “created for the purpose of being a medium of exchange for the acquisition of goods, services, or other rights.”

On the other hand, digital tokens are created “for the purpose of specifying the right of a person to participate in an investment in any project or business, or to acquire specific goods, services, or other rights under an agreement between the issuer and the holder,” said the financial watchdog.

What do you think about the words from the Thai SEC general secretary? Let us know in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Source: https://news.bitcoin.com/new-crypto-rules-in-thailand-could-require-traders-to-show-income-before-opening-trading-accounts/

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Crypto Analyst Who Called 2018’s Market Boom Reveals His Main Altcoin Position

A top cryptocurrency strategist that has gained a large following on social media after accurately calling bitcoin’s 2018 bear market bottom above $3,000, has revealed his main altcoin position on a little-known cryptocurrency. The pseudonymous analyst, known as Smart Contractor on social media, told his over 100,000 followers he has been seeing signs the market […]

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A top cryptocurrency strategist that has gained a large following on social media after accurately calling bitcoin’s 2018 bear market bottom above $3,000, has revealed his main altcoin position on a little-known cryptocurrency.

The pseudonymous analyst, known as Smart Contractor on social media, told his over 100,000 followers he has been seeing signs the market correction has bottomed out this month, and sees a surge in bitcoin’s price to $60,000 as a possibility.

The trader, as Daily Hodl reports, revealed he has a large position in the scalable smart contract platform TomoChain (TOMO), which per his words has the potential to double in value against the flagship cryptocurrency. Smart Contracter used technical analysis for his prediction:

The price of TOMO has, according to CryptoCompare data, already moved up over 86% in the last 30 days, as each token is now trading at $2.4, up from a little over $1 a month ago. The cryptocurrency was below that mark for most of last year.

Smart Contracter also pointed to the S&P 500 index which, according to him, shows investors’ risk appetite is recovering, and a bull period in the equities market could also benefit crypto, he said. The analyst also named the FTX Token (FTT) as a cryptocurrency he is eyeing, as it could bounce back harder than other cryptoassets.

On social media, he said the native cryptoasset of the popular derivatives trading platform FTX “will be one of the strongest and first to recover,” based on the chart’s structure. The trader added he sees the price of FTT crossing over the $40 mark to hit a new all-time high as the cryptocurrency market recover.

It’s worth noting Smart Contracter is famous for, in June 2018, predicting the bear market that was seeing the price of bitcoin drop from a then all-time high near $20,000 would end with the coin trading at $3,200. The prediction was nearly accurate, as BTC hit the target in December of that year.

Featured image via Pixabay.

Source: https://www.cryptoglobe.com/latest/2021/02/crypto-analyst-who-called-2018s-market-boom-reveals-his-main-altcoin-position/

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