3 cryptocurrencies you should invest in this August to cash in on the market rebound

3 cryptocurrencies you should invest in this August to cash in on the market rebound

Bitcoin and the cryptocurrency market bounced back strongly in July after a severe correction during the second quarter. Bitcoin increased in value by 17%, its highest monthly performance since October 2021, according to a CryptoRank Platform tweet on August 1.

The July climb indicates that the market is starting the new month on a positive footing after maintaining its crucial levels to sit above the important $1 trillion market cap in the opening few days.

 

 

In light of that, investors are coming back to the market as the path of recovery continues. Below are three coins to invest in, in August, in order to cash in on the rebound.

 

1. Ethereum 

Ether, the second largest cryptocurrency based on market capitalisation has enjoyed a rally recently, thanks to the announcement of its upcoming ‘Merge’.

And now, the community is starting August on a positive note as plans are now in place for the Goerli Merge to occur on Aug 11, the final testnet merge prior to transitioning to a proof-of-stake (PoS) blockchain.

The Merge is expected to push Ether to new heights

The Merge is a massive step for Ethereum and the community and that is the reason to bet on it in August. It keeps showing great strength of bullish movement as the anticipated merge gets closer.

Ethereum is currently trading at $1,730 but a break of this region would send Ethereum’s price to $2,400 and even higher if the bulls and sentiments of the market stay strong ahead of the Merge.

It should definitely be on the list of your coins to invest in August.

 

2. Kava

Kava is an extremely fast layer one blockchain that combines the Ethereum and Cosmos ecosystem into a single, scalable network. The ecosystem has seen groundbreaking developments which bode a positive movement for its native token.

On August 31, Kava 11 is set to launch and it is expected to greatly increase the total value locked in the platform. The main features of the upgrade will include: KAVA liquid staking, KAVA earns – a yield aggregator, MetaMask support for all KAVA transactions and Protocol owned liquidity.

Kava 11 is set to launch on August 31

The sentiment in the KAVA community has been positive and there seems to be an air of excitement which means it should be on your list of coins to invest in.

BigONE Exchange’s chair Anndy Lian explained to Capital.com that Kava’s function to lend and borrow assets using a number of cryptocurrencies as collateral still serves as a big plus for the platform.

“The slide in the price recently is due to the overall market conditions. Some investors may see steeper plunges due to the performances of their collateralised assets. In my humble opinion, there is nothing to be worried about at this point, their codes are sound and their treasury is still holding up well.”

In the build-up to the upgrade scheduled for late in August, the native token is expected to trade around $5, over 100% of its current market price of $2.18.

Consider having it in your list of coins to invest in.

 

3. Monero

Monero is a secure and confidential blockchain that focuses on providing complete privacy for its users with $XMR as its native token.

The network will undergo a network upgrade on Aug 13 which will introduce various new features, such as an upgrade in Bulletproofs algorithm and a ring-size increase from 11 to 16.

One key reason $XMR is one of the coins with potential in August 2022 is its rapid growth rate. This will eventually boost the adoption of the Monero network, pushing the price of $XMR to new highs.

Monero network will undergo an upgrade on August 13

The token has enjoyed a decent rally in the last 30 days by moving from around $117 to its current price of $166. If it breaks out from that region which is very likely due to the hype surrounding its new features, the price would be expected to increase towards the $200 mark.

Monero($XMR) should be on your list of coins to invest in!

 

 

Are there other cryptocurrencies you believe ought to make the list? Please suggest in the comment box.

 

Original Source: https://technext.ng/2022/08/08/here-are-3-coins-to-invest-in-august/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Here Are the Most Popular Cryptocurrencies in South Korea: Report

Here Are the Most Popular Cryptocurrencies in South Korea: Report

The five most preferred digital assets by South Korean investors are Bitcoin (BTC), Ripple (XRP), Ether (ETH), Cardano (ADA), and Dogecoin (DOGE).

South Korean investors reportedly own over $5 billion worth of Bitcoin (BTC). Ripple (XRP) is the second most popular digital asset as locals hold nearly $4.8 billion in it.

BTC and XRP Lead the Way

South Korea’s leading crypto exchanges – Upbit, Bithumb, Coinone, and Korbit – conducted a study to determine which digital assets are the most attractive to local investors. The largest cryptocurrency by market capitalization – Bitcoin (BTC) – places first as South Koreans have invested more than $5 billion in it. The native token of Ripple – XRP – ranks second with around $4.8 billion distributed in it.

The third and fourth places belong to Ether (ETH) and Cardano (ADA), respectively. Investors own approximately $4.5 billion worth of the second-largest digital asset and nearly $1 billion in ADA.

Interestingly, the first-ever memecoin – Dogecoin (DOGE) – rounds up the top 5. South Koreans hold almost $900 million worth of it.

The report noted that local investors traded over $7 trillion in digital assets throughout 2021. The figure is more than the entire amount traded on the main Korea Composite Stock Price Index and the transactions on the junior Kosdaq.

South Korea Takes the Crypto Path

Last month, the East Asian country held its most contested presidential election. In the aftermath, the candidate of the Conservative party – Yoon Suk-yeol – collected only 263,000 votes more than his opponent and became South Korea’s next President. What’s more interesting is that he is a keen proponent of the cryptocurrency industry and vowed to turn his homeland into a digital asset hub.

During his campaign, he promised to allow initial coin offerings (ICOs) and increase the minimum threshold for paying capital gains tax on profits from crypto investments. He vowed to change the law and ensure that those who generate revenues of less than $40,000 annually should be exempt from paying taxes. Currently, such taxation is imposed on investors who make more than $2,000 per annum.

Korea Blockchain Association – a lobby group for crypto exchanges – envisioned that the new leader of South Korea will positively impact the local digital asset ecosystem. Secretary-General Yoon Seong-han said:

“We definitely welcome his stance as he is confident about boosting the industry. As ICOs are banned now, we have no choice but to issue coins in Singapore and other countries. Ventures and startups will be able to raise money easily from investors [if the ban is lifted].”

BigONE Exchange’s Chairman – Anndy Lian – also welcomed the new President of the country:

“He understands the importance of crypto. He understands the future, and it is unstoppable.”

 

Original Source: https://cryptopotato.com/here-are-the-most-popular-cryptocurrencies-in-south-korea-report/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Biden’s executive order to review the state of cryptocurrencies

Biden’s executive order to review the state of cryptocurrencies

It’s welcome news that Bitcoin has risen in price by close to 9% after Joe Biden has signed an executive order “to establish the first-ever comprehensive federal digital assets strategy for the United States” which appears to show a constructive engagement with cryptocurrencies.

It’s also good news that the White House wants measures to protect American consumers on the one hand, while also directing the Depart of Commerce to create a framework that “drives U.S. competitiveness and leadership in, and leveraging of, digital asset technologies.”

In a similarly balanced approach, which seeks to safeguard against the risks while benefiting from the opportunities crypto provides, the order sees their utility in opening up financial provision, certainly a positive step. Indeed, the prematurely published statement from Treasury Secretary Janet Yellen aligns with this sentiment, suggesting these measures “could result in substantial benefits for the nation, consumers, and businesses.”

In 2021, many lawmakers failed to take additional steps in the cryptocurrency space, owing to a lack of critical legislative fundamentals and poor opinion polls.

Part of the problem is simply lack of legislative tools to do the job for such innovative assets. This has meant the SEC has been slow to crack down on rogue ICOs, using legislation designed for a pre-crypto era, while threatening to widen its scope based on its interpretation of how securities law applies to even new assets such as NFTs.

As a result, since Bitcoin launched in 2008 the US government has had to play catch up, for example in last December executives of eight major cryptocurrency firms were called to testify before the House Financial Services Committee, a US congressional committee. That was the first time crypto companies in the US have been questioned in that way and was well overdue considering the hype and scams around the ICO boom took place back in 2017/18.

Whether the regulatory policy in the field of crypto assets can be implemented in 2022 will also necessitate close collaboration among governments from across the world to develop a practical regulatory policy plan agreed by the majority of them. Indeed, the international aspect is mentioned in Yellen’s abortive reference to promoting international standards and “a level playing field”. What such a field means in practice is quite another thing, especially if the US gets to call the tune to the detriment of emerging crypto economies from Dubai to Gibraltar.

This point was also recently underlined with the economic sanctions against Russia, which were in part resisted by crypto exchanges. However, it’s noticeable that US exchanges such as Coinbase have started to fall into line by banning 25,000 Russian accounts. However, Coinbase is treading a fine line with the Biden administration by confirming it would not ban accounts for ordinary Russians.

The use of the SWIFT payments system to take down the Russian economy, which has pushed the Russian central bank into closer cooperation with the Chinese government’s own financial system has also reminded US lawmakers of the importance of work to create a US digital currency. The executive order is well timed therefore in tasking the Treasury Department in this respect, along with the Justice Department’s role in deciding on what new law would be required as a result.

What will be interesting too is how this plays out in the battles over privacy rights, in deciding what a digital US currency will look like, in the months and years to come.

 

Author: 

Anndy Lian, Chairman of BigONE Exchange

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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