Cryptocurrency Executives Make A Massive Entry In China’s Billionaire Rich List

The Asian country, which leads to this continent’s economy, China, happens to have no shortage of billionaires, and according to Forbes, this list is quite long. This brand-new rich list has shown up, and blockchain and cryptocurrency executives who are a part of it are growing exponentially. If you put the market prices aside, it is pretty obvious that a vast majority of people still make some big money out of this industry, which is still developing.

Binance And Bitmain Top Crypto Rich List

As claimed by Forbes, Jack Ma of Alibaba is the richest man in China with a whopping net worth of $35 billion. Nevertheless, the cryptocurrency rich list, which was recently released by Hurun, stated that the number of crypto giants is increasing on the wealth charts. As by today’s report, which included twelve crypto industry executives, and the founder of Bitmain, Micree Zhan is on top of the chart with an impressive net worth consisting of 30 billion yuan or $4.2 billion. The forty-year-old Mecree Zhan is the genius who made Bitmain, the largest supplier of the mining hardware in the whole world, as well as the wealthiest man in China in the crypto market.

Although this is not even close to Ma’s e-commerce fortunes, it clearly shows that the cryptocurrency industry is extremely profitable, and there are more billionaires because of it.

The second man on that very list is the mysterious boss of Binance, Changpeng Zhao, whose net worth was somewhere around 18 billion yuans or approximately $2.4 billion. That is great because this company didn’t exist for more than two and a half years. Zhao has moved up for thirty-five positions since the whole list was published and also continues to expand his wealth as Binance is rising like it’s the Google of the crypto world.

Bitmain is currently third in the world of crypto’s richest with the co-founder Jihan Wu whose net worth is just behind Changpeng Zhao’s with 17 billion yuan. The fourth and fifth man on the crypto rich list are the founder of OKEx, Star Xu, with a net worth of 10 billion yuan, and Leon Li of Huobi with a net worth of 7.5 billion yuan.

Global Expansion

A vast majority of these new billionaires have concluded that global expansion is crucial in their success. Although oppressive regimes like one party in China aims to crack down on cryptocurrency, they can’t defeat the growing appetite of the rising population. Every one of these three exchanges, which are mentioned before, went to expand out from China and in much more friendlier climes. For instance, Malta Hong Kong and Singapore, where no restrictions exist to slow down the business. Totalitarian governments have to realize that if they ban something, it will increase the demand for it, which is quite evident in the case of China. Two popular payment platforms enable yuan deposits, WeChatPay and Alipay, the exchange has successfully opened crypto up to potential two billion investors and traders.

SocGen, A French Lender Issued A $110 Million ETH Bond To Itself

Six months have passed since Societe General issued its very first bond on a public blockchain. It still has to offer the instruments to its clients or to take advantage of the whole potential of the smart contract, which mediates the sale. Although, this French financial institution with a big reputation claims that it didn’t forget regarding the €100 million bond or approximately $110 million. They sold the bond to itself, and they’ve said that they’re still quite interested in trialing the blockchain technology in the long run. 

eth

“Our intention isn’t to resell this at this particular time,” as said by Jean-Marc Stenger, who is the Chief Executive Officer (CEO) of Societe General subsidiary Forge Digital Capital Markets. That happens to be one of many startups that are a part of the “intrapreneurial” program in this financial institution. This bank has placed covered bonds on the well-known cryptocurrency, Ethereum, all the way back in April this year.  It is one of a couple of established companies that experimented with the issuing debt with the help of one of the biggest public blockchains by market cap.

In November last year, BBVA has recorded a massive $150 million loan on ETH. This September, Santander has settled both sides of a colossal $20 million bond transaction on ETH, which means that it didn’t just issue a token to represent the debt, but it has also settled the price amount with the assist of other tokens representing cash. Although Societe General is still the owner of the bond which has made, the lender is going to supervise if the Ethereum’s smart contract can indeed automate the usual functions of issuing debt.

“We’re demonstrating that every event of the bond has been written in the smart contract, and every event is managed by it,” by the words of Stenger. “We’re going to see if this particular technology becomes the future.”

With the word “event,” Jean-Marc Stenger means that the before-mentioned smart contract is successfully managing the parameters of the issuance. This happens to include a certain mechanism that extends the maturity of the bond, which was issued by one of the best financial institutions in the world, Societe General. That is an option intended for the issuer, in this case, SocGen, to call the security back if it is necessary and also an automated calculation of the fantastic semi-annual coupon that is paid to the bondholder.

Make Money In Crypto With These Three Ways, Without Investing Much Of It

Crypto is back in the game! Even though months ago, the Bitcoin was in the $3,000s which was very low, today it oscillates somewhere around the mark of $10,000 (even less, under $8500 as of writing), which many crypto junkies find to be satisfying. The reality is that the playing field is still alive.

With all seriousness, this isn’t some get rich quick schemes which are quite common nowadays. But for crypto enthusiasts who are connected to their mobile devices all day, some money can be earned in airdrops and also in bounty programs. The objective: crypto companies are going to compensate you with a couple of dollars ( or in their very own tokens) if you happen to spread the word about that particular company on social media.

Telegram airdrop

For instance, here’s an airdrop for the users of Telegram: CUDOS, which happens to be a cloud computing startup, is currently airdropping tokens in $7 value to those who become a part of their Telegram community. All you have to do for some tokens is to accomplish pretty straightforward assignments, chat with a Telegram bot, and give your info to the airdrop form.

Bounty Types

Startups use two bounty types: the pre-offering one and the post-offering. The pre-offering bounty is carried out before the project is launched, and the main focus is on marketing to attract potential investors. The goal of post-offering bounty is perfecting the project, communicating and building a strong community on social media like Instagram, for example.

The disadvantages of bounties and airdrops is that people can find them difficult to sell them for fiat currency or even Bitcoin. They can even be scams.

Referral Programs

Here’s why referral programs are probably slightly superior to the two before-mentioned ways of making money in crypto; you don’t have to invest any money into these programs. The only thing that has to do be done is to create an account on the crypto exchange, which offers the affiliate program. There are many exchanges who are trustworthy. You have to know that those aren’t startups, but legitimate companies.

When you look at the best 44 crypto exchanges, exactly 26 of them will give you some financial prizes and 18 of them have affiliate programs. VinDAX and Currency are the newest exchanges in the year 2019, and referral programs in which they offer to crypto admirers.

Bitcoin Falls To $9.6K

Before we get into specifics, first, there’s a couple of facts regarding the recent downfall of BTC:

  • Earlier today, the price of Bitcoin fell to $9,600
  • The Bollinger band breakdown meant that the Bitcoin will probably slide to $9,320
  • Something of the utmost importance is that the break above $10,380 is mandatory to neutralize the bearish setup

The recent low-volatility price squeeze of the biggest cryptocurrency right now, the Bitcoin, has unfortunately ended with a downside break which is probably going to result in an August low of exactly $9,320. The BTC has been trading in a quite narrow range, from $9,600 to $10,500 in a span of eleven days to the 21st September of this year. That resulted that the price volatility of the Bitcoin has reached its lowest level in the previous four months last week. The Bollinger bands represent the two volatility indicators which happen to be placed two standard deviations beneath and also above the price’s simple moving average in a period of 20 days.

The period of volatility usually means that a big move on both sides is quite possible. In the case of the Bitcoin, that big move was directed downwards, unfortunately. On Monday, the price of BTC has fallen by exactly 3.38%. That was the biggest loss in one day since the 29th of August, according to the data of Bitstamp. Also, it closed quite beneath the lower Bollinger band.

Today, at the early morning, the price hit a low of $9.6K, and it is trading beneath the lower Bollinger band, right now, somewhere around $9,767. The conclusion is that sellers take the victory this time in a clash with the bulls and a new low will probably happen very soon. At the moment, BTC trades at $9,730. On the 21st of September, the spread between two Bollinger bands has been narrowed to precisely $656. Since May, it hasn’t been that low- it is a squeeze which has resulted in a complete price breakdown.

But, there’s no time for big discouragements, because Bitcoin is aiming to hit the support at $9,320 in the next few days, which is great news. Also, this famous cryptocurrency could find the support at the level of $9,388- which would be at the lower edge of three months of the contracting triangle.

To make the bearish case stronger is the sub-50 reading on the strength index of a period of 14 days. To add, if a UTC close beneath $9,388 happens, it would only confirm an unfortunate triangle breakdown, and it could also yield a deeper sell-off beneath the level of $9,000. That bearish outlook won’t mean too much if the price of the BTC goes above $10,380- which represented the peak of the bullish hammer on September 19th. It is important that a break happens, just above the upper edge of the three-month contracting triangle, which is now at $10,692. That is needed to successfully revive the bullish outlook and bring stability to the greatest cryptocurrency, the Bitcoin.

Is There A Possibility That The Next-Gen Altcoins Will Boom During The Following Crypto Bull Run?

In the duration of the 2017 ICO boom as well as the crypto craze, retail cryptocurrency investors have put faith in new, untested altcoins in search for new dominant crypto like Bitcoin. The BTC represented a revolution in financial technology at that time. But, unfortunately, after the 2018 bear market, those dreams were completely shattered. Also, there’s a possibility that even if the overall market recovers, the promising altcoins may never reach their full potential. Instead, the following crypto bull run will probably be driven by a whole new and rising wave of altcoins that will satisfy the overall hype of the previous ones, but without the negative sentiment. 

Coinbase Is Exploring The New Wave Of Crypto Assets

Yesterday evening, the crypto exchange Coinbase, which is located in San Francisco, has revealed a new and exciting lineup of altcoins they’re exploring as altcoins that will potentially list in the near future. At first, the crypto community was shocked, because the leader of the cryptocurrency industry didn’t pay much attention to a vast majority of altcoin projects that investors were persistent to be listed.

There are some names in the list like the Telegram, and an older crypto-like Filecoin, but the other ones weren’t released and were quite unknown to the general public such as Chia and Polkadot. What’s common for these new altcoins, is that they’re mainly from businesses in the U.S. The before-mentioned crypto, Chia is from San Francisco and led by Bram Cohen, who was also, once, the frontman of BitTorrent.

New Altcoins That Will Outshine The Old Ones

A lot of crypto investors aren’t happy that their preferred tokens form the bubble of the year 2017, weren’t on the Coinbase’s list of promising additions, but the truth is that Coinbase has its focus on where the money is going or where it’ll be. The harsh reality is that the altcoins from last year that were the main topic of many conversations or were then hotly traded are now the thing of the past, simply, forgotten and dying. Of course, there are some incredible crypto’s among thousands of them on today’s market, but the thing is that most of those altcoins will sadly, never be applied to real-life in absolutely any way.

Crypto is really, a speculative market, because the value of the currencies happens to be driven by some future expectations as well as the general hype about them. And also with the fact that the older altcoins of the cryptocurrency market that are plagued by bagholders who happen to be prepared to dump their assets, as much as 99%. Also, if there were any indications of a price rise, they could never revisit their previous setbacks at the hype bubble height. 

Because of these factors, there is a good chance that the newly-introduced, fresh altcoins are offering hype and potential, are going to outperform every older altcoin in the duration of the following bull run. 

Bitcoin’s $780 Price Recovery

First, you’ll be introduced with some major facts about the recent price recovery of the most known cryptocurrency, the Bitcoin, and then you will get to know the details surrounding this topic. Here is some important information regarding the rise of the Bitcoin:

  • Just yesterday, the most famous cryptocurrency in the world, Bitcoin has made a bullish hammer candle, meaning that today’s UTC close was pivotal. Also, a close just above $10,380 will probably make some very strong buying pressure and will be essential for the rise to $11,000, which is fantastic.
  • If Bitcoin doesn’t manage to hold above 10,000 in the following day, then it could likely fall to $9,600, which was the price from Thursday.

BTC’s remarkable $780 recovery after being at $9,600 for 18 days has surely neutralized the bearish setup. On the other hand, follow-through is a must to put the bulls back on track. Bitcoin, the number one cryptocurrency, currently, by market value, has picked up a bid which was approximately $9,600. That was the lowest level of the BTC since the 1st of September. That was on Thursday by the Asian Trading hours, and it has risen to the satisfying price of $10,380 in the trading hours of U.S.A. That swift recovery kept the bulls in action, as Bitcoin was looking quite fragile beneath the key support of $9,855.

The rise of the price from $9,600 to $10,380 formed a candlestick-like shape, also known as the „bullish hammer.” This pattern can be seen when an asset makes the large early drop disappear to the end of the day on a highly positive note at or somewhere close to the high of the current day. This Thursday, the price of Bitcoin has fallen in a significant manner to $9,600, only to rise to $10,380 before it printed a UTC close right around at $10,271. When a hammer is seen, then it is considered to be an early warning that a rally will happen soon. Nevertheless, traders have a tendency to wait for a quite strong follow-through before they make their bids on the cryptocurrency market. The follow-through should be a UTC close which is just above the high of the hammer candle.

Right now, the main focus happens to be on today’s UTC close. At the moment, Bitcoin is changing hands at around $10,140 on Bitstamp, and it has also made a $10,208 high just earlier today. Bitcoin has made a continuation pattern, the bull flag. If a breakout was to be confirmed, it would without a doubt mean that the rally from $9,600 will resume and it will make some space for a rally to $10,950. The chances that a Bitcoin is going to print an impressive close above $10,380 would rise in a situation where the flag will end up with a bullish breakout.

Although the close above $10,380 will mean a good thing for the BTC, a complete revival of the bull needs an upside break of a contracting triangle in a period of three months. The upper-triangle edge is at $10,822, while the lower edge is at $9,450. That lower edge could possibly go into play if BTC closes beneath the level of $10,000, as of today.  

https://finance.yahoo.com/news/bitcoin-780-price-recovery-makes-110011299.html