While FLSK Emerges as an Investment with Potential, ATOM and FTT Face a Difficult Time

Alexander Salazar
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While FLSK Emerges as an Investment with Potential, ATOM and FTT Face a Difficult Time

While the prices of ATOM and FTT have fallen below their all-time highs, investors seek alternative options. Due to the turmoil around them, FLSK emerges as a potentially better investment before next year.

Investors who bought at the height of the bullish run last year have suffered the effects of the crypto market decline. Since late 2021, the overall market capitalization of the industry has dropped by over USD 2 billion.

While some well-established cryptocurrencies have collapsed, many new projects have skyrocketed above 70%. FTX Token (FTT) and Cosmos (ATOM) are some of the established crypto assets surviving that drop.

However, it is possible to find the NFT project Flasko (FLSK) in the market despite the current crypto winter.

The Price of ATOM Remains in a Descending Line

Since the price of ATOM could not break above USD 20, cryptocurrency analysts predict it will suffer a significant pullback. Cosmos is among many blockchains that aim for interoperability between blockchain platforms for utility-seeking investors.

Although it may have wide adoption, the price of the ATOM token will not reflect that for some time. It is trading at around USD 13, 70% below its all-time high of USD 44.70.

ATOM is trading at around USD 12.86 and has accumulated a 1.6% loss over the last 24 hours. While its daily trading volume is above USD 240.36 million, its market capitalization is about USD 3.76 billion, according to CoinGecko.

The FTT Token to Face a Difficult Time

Investors find it easy to survive the recent drop in the prices of crypto assets with the FTX (FTT) token. However, investors seek alternative options like Flasko (FLSK) since its price is USD 24, 71% below its all-time high of USD 84.18.

FTT is trading at around USD 24.23 and has accumulated a 0.1% gain over the last 24 hours. While its daily trading volume is above USD 43.27 million, its market capitalization is about USD 3.23 billion, according to CoinGecko.

FLSK Might Be a Significant Investment in 2023

Due to the turmoil around Cosmos (ATOM) and FTX (FTT), Flasko (FLSK) may be a better investment next year. Its value proposition may allow investing trillions in luxury spirits and the wine industry.

FLSK, whose presale price has increased between USD 0.015 and USD 0.04, emerges as an opportunity to make significant earnings. According to specialists, the token will reach between USD 3 and USD 5 before 2023, almost a 100% increase.

Meanwhile, BTC is trading at around USD 19,352 and has accumulated a 0.2% loss over the last 24 hours. While its daily trading volume is above USD 27.71 billion, its market capitalization is about USD 370.90 billion, according to CoinGecko.

Investors should research cryptocurrencies like ATOM, FTT, and FLSK before buying them to know their all-time high, behavior, and possible future price. That will allow them to find the most convenient investment opportunity to minimize the risk of losing money.

By Alexander Salazar

While Bitcoin Struggles to Hold the USD 20,000 Level, Ether Seems Less Volatile

Alexander Salazar
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While Bitcoin Struggles to Hold the USD 20,000 Level, Ether Seems Less Volatile

Compared to the previous week, the price of BTC has been significantly less volatile due to the actions taken by the Fed. After the activation of the Ethereum Merge, ETH traded above USD 1,600 but still cannot break above USD 1,350.

Although Bitcoin (BTC) tried to resume the USD 20,000 level, it lost nearly USD 1,000, just like earlier in the week.

While the market capitalization of most leading altcoins is slightly in the red, some mid-cap altcoins have made gains.

The Price of Bitcoin Rises to USD 20,000 before Dropping Again

The past week has been significantly less volatile for the price of Bitcoin than the previous one. It fell to a three-month low at USD 18,100 due to the actions of the US Federal Reserve (Fed).

The value of the cryptocurrency recovered and settled down to around USD 19,000. It is important to remember that it remained at that level most of the time between September 24th and 26th.

The first significant move occurred on September 27th, when the price of Bitcoin rose to a 12-day high of USD 20,400. The bears, who knew they controlled the market, drove the crypto asset downward as the bulls prepared for another rise.

The value of BTC dropped below USD 18,000 before resuming its trading range between USD 19,000 and USD 20,000. At the closing of September, it jumped again to USD 20,000 but fell back to around USD19,300.

However, the dominance of the leading cryptocurrency rose by about 2% to be at around 39.5%. Earlier in the week, it also reached 40%.

Bitcoin is trading at around USD 19,319 and has accumulated a 0.2% gain over the last 24 hours. While its daily trading volume is above USD 30.94 billion, its market capitalization is about USD 370.40 billion, according to CoinGecko.

The Price of Altcoins like Ether Seems Less Volatile

Amid an unusual quietness, the prices of altcoins have not recently made significant gains.

After the Ethereum Merge was complete, the value of Ether (ETH) has struggled to remain at the USD 1,300 level. It traded above USD 1,600 when it switched to the PoS consensus protocol but dropped to USD 1,200. Although the price has recovered, it still yet break above USD 1,350.

Ether is trading at around USD 1,329 and has accumulated a 0.2% loss over the last 24 hours. While its daily trading volume is above USD 9.51 billion, its market capitalization is about USD 160.57 billion, according to CoinGecko.

XRP has recently been among the best-performing altcoins due to the positive developments in the Ripple-SEC case. However, it has barely risen by 0.1% over the last 24 hours, after reaching USD 0.5.

Binance Coin (BNB), Cardano (ADA), Solana (SOL), and Polkadot (DOT) have also been slightly in the red over the last 24 hours. In the case of alternative mid-cap altcoins, only Uniswap (UNI) and Quant (QNT) have made significant gains until now.

Investors should research Bitcoin or any altcoin before buying it to know their all-time high, behavior, and possible future price. That will allow them to find the most convenient investment opportunity to minimize the risk of losing money.

By Alexander Salazar

SWIFT Partners with Chainlink to Develop Blockchain Interoperability Project

Audy Castañeda
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SWIFT Partners with Chainlink to Develop Blockchain Interoperability Project

This project will connect the SWIFT network to the Blockchain, allowing traditional financial players to access digital assets.

The interbank messaging system SWIFT has partnered with the Blockchains oracle provider Chainlink, with the aim of working on a proof of concept (PoC) project, which will allow traditional financial companies the ability to carry out transactions through Blockchain networks.

Chainlink co-founder Sergey Nazarov announced the project at the SmartCon 2022 Conference in New York on September 28, joined by SWIFT Chief Strategy Officer Jonathan Ehrenfeld Solé.

At the conference, Jonathan Ehrenfeld Solé indicated that there is an “undeniable interest of institutional investors in digital assets.” Furthermore, Solé added that these traditional financial players want to access digital and traditional assets through a unified platform.

The project will employ Chainlink’s Blockchain Interoperability Protocol (CCIP). Due to this, the platform will allow SWIFT messages to report token transfers on almost all Blockchain networks, which, according to Sergey Nazarov, will further drive the adoption of Blockchain through distributed ledger technology (DLT) in capital markets and traditional finance.

Currently, Chainlink is a major oracle network and is in the top 25 Blockchains, with a capitalization of $3.8 billion.

In August, SWIFT recorded an average of 44 million messages per day. In addition, it is currently the main messaging system used by banks to make cross-border payments quickly and safely.

SWIFT does not want to lose leadership in cross-border operations

This is not the first time that SWIFT has ventured into Blockchain technology. The interbank network SWIFT announced an offering last year to “test tokenization of real-world assets.” And previously, years ago, the firm SWIFT also collaborated with Chainlink on another proof of concept on bond issuance and redemption.

However, transactions on the SWIFT network could take several days to execute. The company has been exploring Blockchain and DLT technology and Central Bank Digital Currencies (CBDCs) to facilitate much faster payments.

Likewise, Chainlink added that this collaboration with SWIFT will allow financial institutions to obtain Blockchain capabilities without replacing, developing and integrating new connectivity in legacy systems, something that, according to Solé, would require “substantial modifications” at an “exceptionally high” cost.

In May, Mastercard CEO Michael Miebach said in an interview about CBDCs that he doesn’t expect SWIFT to exist in five years. This is a result of the exponential growth of CBDC competition in the cross-border payments and settlements sector.

Interoperability grows in the crypto ecosystem

The demand for interoperability between traditional finance and digital assets has increased in recent months and has been touted as the next big thing for cryptocurrencies, as well as for TradFi investors who are moving into digital assets.

Last week, platform Lit Protocol reported that it raised $13 million in a fundraising round led by crypto firm “1kx.” This, is with the aim of hiring developers to venture into decentralized ownership and interoperability between Blockchain protocols.

On the other hand, in August various projects linked to the Solana network came together to create the “Open Chat Alliance”, an interoperable messaging platform.

It is important to note that over the past year, SWIFT said it was planning a series of experiments in the first quarter of 2022 to “improve the exchange of information between participants and systems that interact during the lifecycle of tokenized assets.”

By Audy Castaneda

Ripple Wins Battle Against SEC: What Does It Mean For Crypto?

Audy Castañeda
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Ripple Wins Battle Against SEC: What Does It Mean For Crypto?

Ripple Labs achieves an important victory before the SEC and everything indicates that it will win the current dispute. Why is it so important for the cryptocurrency market?

The war is not over yet, but Ripple won an important battle:

Ripple Labs achieved a victory against the SEC last Wednesday: Judge Analisa Torres ordered that the body delivered to the company the documents of Richard Hinman’s 2018 speech. This person was the director of the SEC’s Division of Corporate Finance back then.

Said speech is a key piece in this case since in the Hinman he mentioned that Bitcoin and ETH were not securities. It is important to recall that the SEC’s lawsuit against Ripple Labs is based on the fact that Ripple’s XRP token sales violated United States securities laws.

The company sees Hinman’s speech as critical to winning the lawsuit. However, we still have to wait for the ruling where the judicial body determines whether or not Ripple is a security. Specifically, those documents refer to a speech by Hinman at the Yahoo Finance All Markets Summit in June 2018.

It is also worth noting that the SEC had already objected to this decision and delayed this ruling several times. Which was considered by different voices as judicial tricks.

For now, the SEC considers that only Bitcoin is not a security (ICOs have a lot to do with those definitions). Some relevant comments in this regard are those of Michael J. Saylor, who agrees with the SEC. For his part, the founder of Cardano, Charles Hoskinson, believes that ADA is not a security and that they are even more decentralized than Bitcoin.

Why is this decision so important for cryptocurrencies?

If XRP is listed as a security, Ripple Labs will be in violation of US securities laws. Furthermore, it will pave the way for many other cryptocurrencies to suffer the same fate. The SEC could also impose heavy regulations and even censorship on major cryptocurrencies like Ethereum and Cardano.

For all these reasons, the result of this dispute will strongly affect the fate of many cryptocurrencies.

Let us remember that one of the current fears is precisely a possible censorship and draconian regulation of the Ethereum network. This fear arose after The Merge update, since most of the validators are now in the US, which would give the SEC the possibility of regulating this network even in the field of protocols, as several experts claim.

The SEC has also been blamed for the current big cryptocurrency market crash. Therefore, this victory, although small, is optimistic for the entire crypto market.

On the other hand, big influencers in the cryptocurrency community, like FTX CEO Sam Bankman-Fried, believe that regulatory clarity will help institutional investors access the cryptocurrency market.

This is how the price of Ripple reacted

Ripple’s price reaction was quite positive as its price rose above the $0.5 resistance. Although it was later corrected and is now trading at 0.48 USD. A very good recovery, although Ripple’s all-time high is at $3.84.

The cryptocurrency market has also turned bullish today. Bitcoin has regained the $20,000 level again, while ETH is trading at $1,365. However, the winner in the TOP 10 of the largest cryptocurrencies in capitalization is XRP, with an increase of 11% in the last hours.

The next step that XRP needs to take to start the recovery path is to break the resistance of $0.56 and then that of $0.59. The ultimate victory in this feud is likely to propel it to such levels, although other regulations and government measures continue to lurk, as do interest rate hikes.

By Audy Castaneda

An Analyst Predicts that the Price of Bitcoin May Rise Significantly in October

Alexander Salazar
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An Analyst Predicts that the Price of Bitcoin May Rise Significantly in October

Despite the considerable drop from its USD 60,000 level in October 2021, some analysts believe it may rise significantly this month. Although Bitcoin struggles to maintain the USD 19,000 level, it emerges as a viable alternative hedge against the dominance of the US dollar.

Bitcoin (BTC), the pioneering cryptocurrency, reached an average price of USD 58,051 in October 2021. This year, on the first day of the same month, it is trading at less than one-third of its all-time high.

After trading above USD 60,000 for 16 consecutive days in October 2021, Bitcoin aims to regain the USD 20,000 level. Despite that considerable drop, some analysts believe it may make a significant price movement this month.

In October last year, Bitcoin reached one of its highest prices before reaching its all-time high in November. After that, it briefly traded above the USD 68,000 level.

The first cryptocurrency by market capitalization closed in October 2021 at USD 66,109. Since October 15th, it traded above USD 60,000 for 16 consecutive days.

Considering those facts, market analyst Jim Wyckoff was right to say that the value of cryptocurrencies may jump significantly this month.

The Volatility in the Price of Bitcoin Is Rising

The US dollar currently has dominated other global fiat currencies like the British Pound (GBP), the Euro (EUR), and the Japanese Yen (JYN).

Because of that dominance, Bitcoin stands out as a viable alternative hedge against the American fiat currency.

Wyckoff considers that this development stabilizes the price of Bitcoin as it struggles to maintain the USD 19,000 level before rising significantly.

However, the predictions are still far from the achievement of the pioneering cryptocurrency in October 2021.

The Price of Bitcoin Aims to Regain the USD 20,000 Level

September 2022 was a terrible month for Bitcoin, which only managed to set a high of around USD 20,000.

Michael Van de Poppe, a cryptocurrency trading expert, said the price of Bitcoin might be around USD 19,600. However, he pointed out that it has to hold the USD 19,300 level for that to happen.

However, the crypto community shows more optimism about Bitcoin, saying its price may close at USD 22,857 in October. If the pioneering cryptocurrency breaks out of the bearish market and starts a bullish rally, it may achieve that.

Since Bitcoin faced difficulty scaling and holding at USD 20,000, it is now focusing on reclaiming that level. The leading crypto asset has historically proved capable of resuming its previous all-time highs.

Meanwhile, Bitcoin is trading at around 19,325 and has accumulated a 0.8% loss over the last 24 hours. While its daily trading volume is above USD 30.94 billion, its market capitalization is about USD 370.38 billion, according to CoinGecko.

Investors should research Bitcoin or any other cryptocurrency before buying it to know their all-time high, behavior, and possible future price. That will allow them to find the most convenient investment opportunity to minimize the risk of losing money.

By Alexander Salazar

Rethinking Current Market Structure: Why Blockchain May Be the Way for the Next Recession

Audy Castañeda
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Rethinking Current Market Structure: Why Blockchain May Be the Way for the Next Recession

Given the current global economy, where inflation and supply shortages are constant threats, there has never been a better time to make this change.

The price of Bitcoin, along with that of the other major unbacked crypto assets, has fallen by more than half since November 2021, amid a changing environment. In fact, the global cryptocurrency market capitalization at the beginning of August was $1.2 trillion, down 39% from a year ago, according to data from CoinGecko.

Cryptocurrency markets have always been volatile, but they also provide many different advantages and opportunities. The biggest of those advantages is the backbone of the Blockchain on which the cryptocurrency market is built.

With this in mind, what if the underlying traditional financial infrastructure were changed so that investors could more easily take advantage of today’s technology, diversify their investments, and protect themselves from the risks that volatility brings?

Blockchain Systems Must Replace Traditional Financial Infrastructure

Replacing legacy infrastructure with Blockchain-based systems can open up a new world of choice, community, control, and transparency for investors. For institutional crypto investors, returns are 100% correlated to the cryptocurrency market.

The ability to invest in a more diversified slate of traditional assets on the Blockchain would allow investors to hedge against crypto winters more directly within asset classes that are not subject to crypto market movements while allowing them to take advantage of the latest financial technologies.

When new types of investments are added to the Blockchain, crypto investors can take advantage of other asset classes that were previously out of their reaches, such as real estate and mortgage-backed securities, thereby diversifying their portfolios and limiting their exposure to risk.

This type of system – offering digital experiences that link traditional finance with Blockchain and first-of-its-kind digital securities – needs to be widely adopted and implemented as soon as possible. Is it a good starting point? The real estate and mortgage-backed securities (MBS) market, which deals with mortgages that are packaged together with hundreds of other mortgages and then sold to investors.

Blockchain-Based Infrastructure Helps Offer Finserv an Edge over Competitors

According to a recent Deloitte study, 97% of pioneers in the financial services industry see Blockchain and digital assets as another way to gain a competitive advantage.

In typical securitization, the process of coordinating updated documents and data between stakeholders is manual and inefficient. Blockchain-powered securitizations can enable instant validation of all data and documents in an offering against the immutable records of the Blockchain, meaning that the data used by all parties is always accurate and up-to-date.

Additional data from third parties, such as TPR managers and companies, can also be incorporated, creating a single, accurate source of truth for all parties involved in a securitization. This level of transparency, accuracy, and real-time validation is something that has never been possible before.

Reconsider the structure of today’s market and the future of tomorrow’s Blockchain

What is needed today is a new path to help investors diversify their risk exposure and hedge against volatility amid the market challenges we face in the future, both short-term and long-term.

When Blockchain technology replaces legacy traditional financial systems, it is like replacing centuries-old lead pipes with a modern, efficient and secure system that makes everything work better. In today’s financial services industry, the time has come for a Blockchain-based makeover.

By Audy Castaneda

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