Crypto
People investing in cryptocurrency feel pain of recent crash :: WRAL.com
Individuals who determined to strive their hand at day buying and selling in the course of the rise of cryptocurrency are feeling the ache of the digital forex’s crash.
Right here’s a take a look at the efficiency of three of the most well-liked cryptocurrencies over the previous week:
- Bitcoin: $30,001.60 per share: Down $4,026.30 per share previously 5 days
- Ether: $2,065.78 per share: Down $453.32 per share previously 5 days
- Tether: $1 per share: The inventory is down lower than 1 cent previously 5 days. It’s down roughly 0.13% previously 5 days.
Raleigh-based crypto investor Mic Forman purchased his first cryptocurrency 5 years in the past with the purpose of getting the monetary freedom to spend extra time along with his household. Forman used to work as a banker.
“It was a kind of issues, like, alright, our household [has] bought to do one thing proper now and this looks as if it might be it,” he mentioned. “That is what I do full-time now. Our household lives off our revenue.”
Forman survived the volatility of the digital forex market, together with a drop one 12 months after his preliminary funding.
“I caught the knife happening in 2018 to the bear market,” Forman mentioned. “[I] needed to mislead my spouse for about two years about the place our portfolio stood.”
Now, Forman’s sticking with crypto by this newest crash regardless of a jaw-dropping loss to his household’s fortune.
Forman mentioned he plans to maintain his investments, however they’re down this week “seven figures” [at least $1 million].
“In case you’re an investor on this area, you’ll want to be ready to lose as much as 90% of your cash,” Forman mentioned.
Duke Fuqua College Professor of Finance Campbell Harvey teaches a category on cryptocurrency. He mentioned it’s a unstable and dangerous funding to go all in on.
“It’s a brand new area, and it’s obscure,” Harvey mentioned. “It’s additionally the case that there’s many speculators which are within the crypto area. “
This week’s sell-off within the crypto world highlights the dangers of experimental and unregulated digital currencies.
Forman advises people who find themselves hoping to get wealthy fast to suppose once more.
“Determine what your precise objectives are, and extra will not be a purpose,” he mentioned. “A greenback quantity will not be a purpose.”
Otabek Solinojov works at a vape store on Hillsborough Avenue, which has its personal Bitcoin ATM. He cashed out some crypto just a few years again price $15.
“Folks overlook that on the finish of the day, identical to any market, it’s rudimentary playing,” Solinojov mentioned.
Solinojov mentioned, had he saved his preliminary funding, it could be price $72,000 as of Friday.
Campbell mentioned buyers ought to consider crypto like investing within the inventory market. When you’ve got $100, put $20 into crypto and hold the remainder in money. He additionally recommends those that spend money on crypto diversify their portfolio by shopping for several types of the forex.
Crypto
Blockchain Revolution: How Cryptocurrency is Transforming Global Logistics – theafricalogistics.com
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The global logistics industry is undergoing a seismic shift, driven by the integration of blockchain technology and cryptocurrency.
These innovations promise to enhance transparency, efficiency, and security across the supply chain. From tracking shipments to streamlining cross-border payments, the synergy between blockchain and cryptocurrency is setting new benchmarks for the logistics sector.
1. Blockchain’s Role in Logistics
Blockchain technology, essentially a decentralized ledger system, enables secure and transparent recording of transactions. For logistics, this translates into the ability to track goods in real-time, authenticate the origin of products, and mitigate fraud. Key benefits include:
- Enhanced Traceability: Every transaction, from the manufacturing stage to delivery, is recorded on an immutable ledger. This ensures that stakeholders have a comprehensive view of the supply chain.
- Reduced Paperwork: By digitizing documents such as bills of lading and certificates of origin, blockchain eliminates the inefficiencies of manual processes.
- Improved Trust: Smart contracts, self-executing agreements coded on the blockchain, reduce disputes and enhance trust between parties.
2. Cryptocurrency in Cross-Border Transactions
Traditional cross-border payments in logistics are often marred by high fees, long processing times, and currency exchange risks. Cryptocurrencies, like Bitcoin and stablecoins, are addressing these challenges by:
- Lowering Transaction Costs: Cryptocurrency transactions bypass intermediaries, significantly reducing fees.
- Speeding Up Payments: Transactions settle in minutes, eliminating delays common with traditional banking systems.
- Enhancing Financial Inclusion: For businesses in emerging markets, cryptocurrencies provide access to global trade without reliance on conventional banking infrastructure.
3. Use Cases Transforming the Sector
Several real-world applications highlight the impact of blockchain and cryptocurrency in logistics:
- Walmart’s Blockchain Initiative: Walmart leverages blockchain to track the origin of produce, ensuring food safety and traceability within its supply chain.
- Maersk’s TradeLens Platform: Developed in collaboration with IBM, TradeLens uses blockchain to digitize and streamline global shipping documentation, reducing inefficiencies.
- Cryptocurrency-Powered Freight Payments: Startups like Slync.io enable shippers to pay carriers using digital currencies, enhancing payment speed and reliability.
4. Challenges to Adoption
Despite its potential, the adoption of blockchain and cryptocurrency in logistics is not without hurdles:
- Regulatory Ambiguities: The legal status of cryptocurrencies varies across countries, complicating implementation.
- Scalability Concerns: Processing thousands of transactions per second remains a challenge for blockchain networks.
- Skill Gaps: The logistics workforce often lacks the technical expertise to deploy and manage blockchain systems.
5. The Road Ahead
The integration of blockchain and cryptocurrency in logistics is still in its nascent stages but holds immense promise.
Industry players are investing in pilot projects to explore scalability and operational viability. The convergence of these technologies with artificial intelligence and IoT will further revolutionize the sector, enabling predictive analytics, autonomous supply chains, and more.
Conclusion
Blockchain and cryptocurrency are not just buzzwords but transformative tools reshaping the logistics landscape.
By fostering transparency, reducing costs, and expediting processes, these technologies are addressing long-standing inefficiencies in the supply chain.
As adoption accelerates, businesses that embrace this revolution stand to gain a significant competitive edge in an increasingly digital and globalized economy.
Also Read
How cryptocurrency works: A step by step guide
Exploring the potential use cases of Pi Coins post-launch
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Crypto
My Top Cryptocurrency to Buy Right Now (Hint: It's Not Bitcoin) | The Motley Fool
The performance of Bitcoin (BTC -0.53%) this year has been nothing short of extraordinary. It’s now up about 46% since the election on Nov. 5, and 146% year to date. Best of all, Bitcoin recently broke through the $100,000 price level to hit another all-time high just north of $108,000.
But what if I told you that there is another top cryptocurrency that is up more than 120% since the election, and 430% year to date? And that this cryptocurrency also just set a new all-time high? That cryptocurrency is Sui (SUI -3.69%), which now ranks 14th among all cryptocurrencies with a $13 billion market cap.
What is Sui and why haven’t I heard of it before?
If you’ve never heard of Sui, that’s understandable. The cryptocurrency only launched in May 2023, just as the market was emerging from the crypto winter of 2022. So, in many ways, its launch flew under the radar of investors. There were bigger issues to consider. The industry was still coping with the aftermath of the collapse and scandal of crypto exchange FTX in November 2022, and nobody was very interested in hearing about another new cryptocurrency launch.
But fast-forward to August 2024. That’s when 21Shares — the company that partnered with Cathie Wood’s Ark Invest on the launch of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum (ETH -0.79%) — released a research report on Sui, detailing all of its unique characteristics. For example, it described how a new technical upgrade suddenly made Sui faster than any other top blockchain by a substantial margin. It pointed out how Sui was rapidly growing in terms of total value locked (TVL), which is a key metric showing the relative strength of a particular blockchain.
The title of the report (“Is Sui a Solana (SOL -0.00%) Killer?”) was very provocative, at least for crypto investors. It suggested that Sui had the technological chops to take on Solana, which now ranks as the fifth-largest cryptocurrency. For several years now, Solana has been positioned as the next Ethereum, so Sui being tabbed as a potential Solana killer is a big deal. In fact, 21Shares suggested that there might be a $68 billion market opportunity for Sui if it was able to take on Solana and win.
How high can Sui go in 2025?
My primary concern right now with Sui is that it may be overheating. Just like Bitcoin, it is smashing through all-time high after all-time high. Right now, Sui is trading at about $4.50 after briefly testing the $5 price level. From the perspective of crypto traders, $5 presents the same psychological price barrier for Sui that $100,000 did for Bitcoin. It took Bitcoin a while to break through the $100,000 level, so Sui may not be able to break through the $5 price level by the end of this year.
But, in 2025, watch out. Just take a look at this comparison chart of Bitcoin and Sui since the presidential election. That leads me to think that the market is very bullish on Sui’s prospects under the Trump administration.
Moreover, consider the trading volume that Sui is now seeing on Coinbase Global (COIN 1.75%). Sui has become one of the 10 most popular cryptocurrencies on the platform in terms of 24-hour trading activity. Granted, the trading volume in Sui is nowhere near that of Bitcoin or Ethereum. But there’s more activity in Sui than in popular cryptocurrencies such as Chainlink, Litecoin, Cardano, Shiba Inu, and Avalanche.
Best of all, Sui has a major new product launch coming in 2025. It’s a $599 handheld gaming device that is currently available for pre-order online. If that product launch is a success, then it could be off to the races for Sui. It could easily double in price to hit the $10 price level.
This cryptocurrency could soar even higher if it ever realizes its full potential as the next Ethereum. Imagine if you had invested in Ethereum just 18 months after its launch. Most likely, you’d be a crypto millionaire by now. In December 2016, Ethereum was trading around $5, which is roughly where Sui is trading right now. Today, Ethereum trades for about $3,400.
That said, I can’t emphasize enough how speculative Sui is. It is still a baby in crypto terms. It has only been around for 18 months, and it can be difficult to get good data and reliable information about it. So, do your due diligence before investing in Sui, and keep your expectations in check. An investment opportunity like Ethereum might only come around once in a lifetime, so it’s asking a lot for it to happen with Sui as well.
Dominic Basulto has positions in Bitcoin, Ethereum, SUI, and Solana. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, Ethereum, SUI, and Solana. The Motley Fool has a disclosure policy.
Crypto
S. Korea, US conducting joint research to block NK cryptocurrency heists
South Korea and the United States are conducting joint research to strengthen protection against cryptocurrency heist attempts amid growing concerns of such attacks by North Korea-linked hackers, officials said Sunday.
Based on a recently signed technical annex between the South Korean government and the U.S. Department of Homeland Security, the two sides will jointly develop technologies to prevent cryptocurrency-targeted attacks and to track stolen assets, according to authorities and cybersecurity industry officials.
The science ministry plans to support such research through the Institute of Information & Communications Technology Planning & Evaluation until 2026.
The move comes as the price of bitcoin recently surged to $100,000 after the U.S. presidential election last month, raising concerns of increased attempts by hackers to steal virtual assets.
While the United States collaborates with other countries for cybersecurity research, it is known to have chosen South Korea for research on digital asset tracking technology as North Korea is seen as a key culprit behind cryptocurrency heists.
Under the program, South Korean and U.S. researchers, including those from Korea University and the RAND research institute, will focus on technologies to prevent and track hackers when they steal assets from a cryptocurrency exchange.
They will also focus on understanding how they convert or launder other financial assets they obtain into virtual assets through illegal ransomeware or other methods.
North Korea is known as a major player in cryptocurrency heists, with hackers linked to the country estimated to have stolen $1.34 billion worth of cryptocurrency across 47 incidents this year, according to Chainalysis, a blockchain analysis firm. (Yonhap)
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