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Steven Seagal Pays up $330,000 Following his ICO Endorsement

Steven Seagal Pays up $330,000 Following his ICO Endorsement

Plenty of celebrities have openly endorsed initial coin offering in 2016 and 2017. It was a matter of time until that type of behavior would have negative repercussions. 

Steven Seagal is one of the multiple celebrities paid to promote an ICO

Steven Seagal Pays a Hefty Price

At the time, there was no pressure by the SEC for such projects.

Years later, Seagal came under scrutiny of the SEC for his association with an initial coin offering endorsement.

His endorsement pertains to Bitcoiin2Gen, an ICO which never amounted to much.

Steven Seagal hinted on social media to not miss out on this ICO.

For this behavior, the movie star is now fined $330,0000, as Bitcoiin2Gen is an unregistered security offering. 

Becoming the brand ambassador of a project intent on raising millions despite having no business plan is never a smart decision.

It appears that Seagal also received $1 million for promoting this initial coin offering, which is a very substantial amount.

Of that transaction, $250,000 was paid in cash, and the remainder in the Bitcoiin2Gen tokens.

As this token plummeted in value after the ICO, it never amounted to much.

Steven Seagal never disclosed how he received a payment for his endorsement, albeit most people acknowledge he would never do something like this free of charge.

Image(s): Shutterstock.com

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ETH Stopped Falling

ETH Stopped Falling

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

By Friday, February 28th, the emotional selling of the ETH has stopped, and the digital currency has got a chance for stabilization. It is generally trading around $227.23.

On H4, the quotations have broken the Triangle downwards by a strong impulse and reached 38.2% Fibo. In the short term, there is a pullback going on. Current situation may be interpreted as an attempt to decide what to do next: decline or grow and renew highs. If the market is going to form another wave of growth, its first aim will be at the high of $288.98. But if the decline continues, its aims will be the levels 50.0% ($202.65) and 61.8% ($182.10). The confident dynamics of the MACD means readiness to continue the downtrend.

On H1, the quotations demonstrate a small pullback after a declining wave. The previous decrease has corrected to 38.2% Fibo. The ascending of the Stochastic dynamics indicates the possibility of further growth to 50.0% ($243 70). In its turn, a breakout of the support level near $208.28 will signal the development of the mid-term downtrend.

The Ethereum founder Vitalik Buterin considers it impossible for the BTC to reach $100,000 – by itself or influenced by the coronavirus hysteria. He states that 95% of global long-term forecasts have no real foundation, hence, they are not to be accounted for.

Buterin calls all attempts of forecasting the behavior of cryptocurrencies due to certain news “rationalized nonsense”.

Naturally, this is just one opinion. Any market is influenced by the flow of news, regardless of its content. However, the extent of the influence may differ – from insignificant to global. In the coronavirus situation, the crypto sector is likely to have experienced a larger part of the emotions. Demand for alternative assets is present but not as active as before.

The key cryptocurrencies may keep growing in price as long as investors need safe instruments for storing their money; however, forecasts are useless here – the BTC and ETH may grow either sharply and confidently or symbolically, as for them nothing in particular changes.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

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While The Rest of the Market Tanks, One Cryptocurrency Is Above All-Time High

While The Rest of the Market Tanks, One Cryptocurrency Is Above All-Time High

Cryptocurrency investors are seeing red this week, as are investors in the stock market and just about any financial market due to widespread fears over the coronavirus.But there’s one cryptocurrency that is defying all odds and market conditions and has just reached above its previous all-time high daily close.Chainlink Eyes New All-Time High Even Admist Coronavirus Market CrashChainlink is the cryptocurrency industry stand out of the last year.It was a top performer during 2019, even while other assets were falling, the altcoin kept on rising.The cryptocurrency asset is showing its resiliency regardless of market conditions once again and is defying all odds to potentially set a new all-time high even during one of the most extreme market selloffs the world has seen in years.Not only has Chainlink held up particularly well, even rising amidst the economic turmoil, it is well on its way to setting a new all-time high against Bitcoin on the LINK/BTC trading pair.$LINK
While the market is in disarray, this is above it’s all time high daily close. I don’t know how it does it! pic.twitter.com/ut6XsMv7XQ
— Crypto Moriarity (@MoriarityCrypto) February 28, 2020The current all-time high rests at 48750 sats, however, the highest daily candle close tops out at 46500 sats.Right now, Chainlink is trading at 47000 sats, and if the daily candle can close at this level, it will be a new record for the asset’s highest ever daily close.Such a strong showing by Chainlink even despite a widespread selloff is nothing short of amazing, and breaking a record for highest daily close during this steep collapse will likely cause it to set a new all-time high and close above the former level.Chainlink’s all-time high on USD price charts currently rests above $4.80. The unstoppable altcoin is currently trading at just $4, after reaching as low as $3.25 cents in the recent crypto market crash.This Cryptocurrency May Be Unstoppable in the Next Bull RunThe altcoin is overperforming against Bitcoin and the rest of the crypto space, but still has ways to go before setting another new all-time high.However, give the fact that there’s no major overhead resistance, breaching above the level is likely to send the asset into price discover mode, where investors push the price of the asset to new heights before psychological resistance levels are reached and set.Cryptocurrency asset valuations are primarily based on speculation and hype, and with the incredible potential that Chainlink offers, it is easily among the most hyped altcoins of the current crypto market cycle.Analysts expect the likes of Chainlink, Tezos, and other, shiny new altcoins to outperform the altcoins of the last bubble, as holders of those assets will need to sell on the way up to break even, where these new altcoins have nothing but upside in their future.Source

Iranian General Prefers Using Bitcoin to Bypass US Sanctions

Iranian General Prefers Using Bitcoin to Bypass US Sanctions

Using cryptocurrencies is often associated with dubious and illegal activities. In Iran, one general advocates for using Bitcoin, as it helps evade government sanctions.

It is uncanny how the public perception of cryptocurrencies continues to shift.

Bypassing Sanctions With Bitcoin

Advocating the use of Bitcoin and altcoins to evade government sanctions may be a bridge too far.

Iranian general Saeed Muhammed is convinced that this is the right path to follow. 

In his opinion, Iran should look to cryptocurrencies to boost international investments.

While some may see this as a bullish sign for Bitcoin, this approach also poses a few problems.

The public nature of Bitcoin’s blockchain would immediately flag transactions one the blockchain analysis firms go to work. 

Creating a native digital currency for the country doesn’t appear to be an option worth exploring right now.

Whether these comments by Muhammad will receive any additional support, remains to be seen.

Sanctions imposed upon Iran have put a strain on financial and economic capabilities.

Finding alternatives makes sense, albeit the rules still need to be respected at all times.

It is also worth pointing out that cryptocurrency addresses can become subject to the same types of sanctions.

Some of the earliest sanctioned addresses even belong to Iranians. 

Image(s): Shutterstock.com

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BitMEX Experiences $190 Million In Bitcoin Liquidation

BitMEX Experiences $190 Million In Bitcoin Liquidation

Skew, a data analytics provider that provides information regarding crypto exchanges, stated that around $190 million sell and $6.1 million buy liquidations have occurred in Bitcoin. When tallied, about $196 million in Bitcoin (BTC) has been liquidated in both long and short positions.

The Great Corona Scare

The fiasco started at around 14:00 UTC, on the 26th of February. From there, the price for BTC began to drop below $9000. Just an hour later, the BitMEX exchange saw its largest liquidation by amount since the new year, skyrocketing well past the $100 million mark.

The derivatives market mirrors a massive sell-off within the crypto spot market, with Bitcoin’s price dropping over 6% and recording a low of $8,675. A main attributing factor for this drop in the market, one that conventional markets suffer from, as well, is the coronavirus scare. Dow Jones Industrial, as well as the S&P 500, have experienced a 7% drop within this week.

Bearish markets All The Way

The latest price actions for BTC are continuing to show bearish results, despite the narrative that crypto can act as a safe-haven asset being heavily pushed. It seems that the average investor doesn’t consider crypto to be a safe bet in uncertainty regarding bonds and stocks.

Luke Martin, a research analyst in crypto, explained that Bitcoin doesn’t stand alongside any form of other assets. Should stocks start to drop, it doesn’t mean that crypto will automatically rise, according to Martin. He also compared Bitcoin with gold, stating that gold’s ebb and flow won’t cause an automatic reaction within the crypto industry, either.

Massive Downward Notional Volumes

BitMEX wasn’t the only one that felt the fears of the CORVID-19 virus. OKEx, recorded an options market notational volume uptick that clocked in well and above the $15 million mark. This is the largest uptick in the exchange’s history.

Notional volume signified the value of underlying assets within the derivatives market. It can mean the total cost of a position, an agreed-upon amount within a contract, or the amount of value an individual controls.

A massive amount of notional volume when it comes to the downward price, signals a bearish market movement overall.

Things aren’t looking good, as the world tries to push off all of its assets that aren’t capable of being quickly converted into funding. It seems everyone is very much scared of this new viral outbreak. How it will pan out in the future remains unclear.

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