cryptonews

The price of Ripple (XRP) has breached its consolidation phase. However, the breach did not include a high degree of volatility. Following the breach out of the consolidation phase, the remittance token is hovering above multiple support levels, making it more difficult for XRP’s price to move further down.

XRP’s price faces a decisive point at the moment as it has set up four equal lows and five lower highs since May 13. Connecting these swing points with trend lines results in a descending triangle.

Looking at the technical formation, it is forecasted that there will be a 13% downswing to around $0.345. This is obtained by measuring the distance between the first swing high and swing low to the breakout point at $0.398.

On May 26, Ripple breached the lower trend line, which triggered a bearish move to $0.375. However, the lack of volatilit ...

With slight variations in market cap, some cryptocurrencies are looking to overtake high-ranked coins. In detail, Polkadot (DOT) and Dogecoin (DOGE) are on the competition track, where DOGE stands at 10th and DOT at 11th positions in the global crypto market cap.

According to CoinMarketCap, Dogecoin has a market cap of $11,206,805,018 and Polkadot has a market cap of $10,122,396,939. Approximately 24 hours ago, Polkadot overtook Dogecoin to rank 10th on the list of coins by market capitalization. However, as time passed, DOGE pushed DOT to reach the 10th rank, bringing DOT back to its 11th position.

At the time of writing, DOGE trades at $

Cryptocurrency is becoming increasingly popular with recent studies showing that as many as 1 in 10 Americans have made investments. There are many people who wish to invest but don’t possess the knowledge to do so. Gollum’s Gems is a huge crypto community who operate on Telegram and Twitter. They have recently unveiled some new features which will help newcomers to the space.

Gollum’s Gems is one of the oldest and most trusted Telegram crypto groups which started in Summer of 2021. The founders are long term crypto investors who wanted to share their knowledge and expertise to potential investors. They have built a strong community of crypto enthusiasts and have over eighty thousand followers across their three social pages. They have a main group, Gollum’s Gems, where they host daily ‘AMAs’. For those not familiar with the term, it means ‘ask me anything’. These sessions allow projects to come on and showcase their project with a time dedicated for followers to ask questions about the project. They have a review page called ‘Gollum’s Gems reviews’ which features detailed written analysis of crypto projects. Finally, their Twitter page (@Gollumsgems) is a place for investors to discuss anything crypto related.

Gollum’s Gem have a s ...

The digital world has been taken over by a new storm — cryptocurrency. It’s seemingly a peek into the future of fintech, one that’s here to stay. Why? Because it’s already around us, creating endless opportunities for financial freedom, more so than anyone realizes.

Many forward-thinking organizations are making headway by integrating crypto into their business models, so they continue to lead the pack. In doing so, the opportunities for crypto users to buy, sell, and invest have grown formidably. Here’s a surface-scratcher of what the world of cryptocurrency offers.

E-commerce Innovates Further

Virtual currency demands virtual purchases. Many companies with established e-commerce sites have integrated crypto into their payment schemes, such as AT&T, Shopify, and Home Depot, and the list goes down.< ...

Ethereum may still be in second position behind Bitcoin but the trends don’t seem positive for this altcoin. According to the Extreme Fear and Greed Index, the Ethereum needle lies in the Extreme Fear segment of the gauge with a score of 23.

Ethereum Fear and Greed Index is 23. Extreme Fear
Current price: $1,802https://t.co/Fc4ubnN9Lghttps://t.co/QDl9vUPSEL pic.twitter.com/uFL6wJTEf2

— Ethereum Fear and Greed Index (@EthereumFear) May 29, 2022

Crypto mining is the process of collecting cryptocurrency transactions made in the network into a blockchain, which requires energy-intensive equipment.

According to a study published in October 2021 by the Cambridge Center of Alternative Finance, the US accounts for 35.4% of the hash rate, Kazakhstan for 18.1%, and Russia for 11%.

Vasily Shpak, the deputy head of the Russian Ministry of Industry and Trade, revealed his opinion on the matter in a speech on May 27. According to Shpak, “the miners of digital currencies account for more than 2% of the total volume of electricity consumed in Russia.”

He highlighted that these numbers are higher than the cost of electricity for agriculture.

Shpak added that crypto mining is ...

Successful crypto trades have encouraged many Indian investors to invest even more of their money in digital assets. However, in the latest Union Budget, the Indian government has made crypto subject to tax deductions.

Last month, the Indian government started charging a 30% tax on all income from digital assets. The tax is charged on all gains from crypto assets, and it has been in effect since April 1.

In addition to this, the government decided that another 1% tax deduction will be implemented on July 1. This 1% will be charged on all crypto transactions and not just on the ones that generate profit.

The government is convi ...