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    Crypto news: What Happened Since Last Week

    The cryptocurrency market is filled with surprises; now, the market is going up, and in an instant, everything comes crashing down. The most influential currency in the crypto world is Bitcoin, and in many situations, this dominant currency dictates the market trend. Bitcoin and the entire crypto world get affected mainly by the news, government regulations, and media. Every week, if any of these influential factors come up, the market will react. Since its inception in 2009, crypto has been affected by other news all through the week. This week wasn’t left out as it was a busy week for the world of cryptocurrency. Some of the significant events that happened this week include;

    1. Seaside Coin is a digital asset that is based on a real business foundation and unique smart contract system. The Seaside Coin is a digital asset that is used to facilitate transactions within the Seaside platform. The platform is a global marketplace for the buying and selling of goods, services, and digital assets. It allows users to transact in a secure and transparent manner. The Seaside platform is powered by a unique smart contract system that is designed to ensure the security and accuracy of transactions. The platform also provides users with access to a range of features such as secure storage, smart contracts, and the ability to trade in multiple currencies.
    2. FBI uncovers $2.3 million Bitcoin fraud.

    This past week, the justice department of the FBI recovered $2.3 million worth of Bitcoin. This amount was paid to some hackers of ransomware by colonial masters. This news caused a scare about bitcoin being hacked, which reduced the price of Bitcoin a bit.

    1. US senator calls for crypto regulation

    A senator of the United States of America, Elizabeth Warren, called for the regulation of cryptocurrency. She sighted that crypto was an excellent opportunity for scammers to rage some investors.She sighted that crypto was an excellent opportunity for scammers to rage some investors.

    1. Influence of Cryptocurrency on the World Economy

    Cryptocurrencies have an impact on humanity’s economic, political, cultural, and social lives. Digital money will not be a replacement for real money, but it may serve as a catalyst for creating a new currency system. There is currently a possibility of unscrupulous individuals surfacing on the market due to the lack of rules and warranties to protect bitcoin customers, which is one of the reasons to push some nations into having a crackdown on some coins with strict laws, regulations, and bans.

    How to Reduce Risks in Cryptocurrency?

    Cryptocurrency has made many people successful millionaires, but at the same time, it has also pushed many towards suicide and crippled many organizations. Trading or investing in cryptocurrency can make you rich, but at the same time, it has its risks. There’ll be excellent gains sometimes, and other times, there’ll be bad times.

    In April, Bitcoin got to its highest value of over $60,000 since its launch in 2009. However, some two weeks into May, the value came crashing to a little over $30,000. This crash had over $8 billion liquidated and no traces of about $500 billion. These are some of the risks you may experience with crypto. The question is, how can you manage these risks? Let’s take a look at some strategies;

    Risk Parity

    Risk parity is a strategy that any learned trader will associate with trading legend Ray Dalio. This strategy is simple: You invest all funds into assets that do not correlate, resulting in reducing your funds. So if anything negative occurs with one asset, it doesn’t affect your total investment. With risk parity, you divide your funds into different sectors, which means your gains come from various sources. However, it means as a trader, you have to look out for crypto assets that are not related to returns. This is not an easy task, but if you master the art of risk parity, you will reduce risks.

    Decentralized finance

    Cryptocurrency revolves around Bitcoin — the first and most influential currency. When Bitcoin surges up in value, the entire market surges up. If Bitcoin reduces in its value, most other crypto assets will follow suit. This dependence on the market makes it hard for risk parity to be the best risk management method. That’s where decentralized finance steps into the occasion.

    Decentralized finance, often abbreviated as DeFi, is essentially another option for the regular crypto market. Fortunately, DeFi also depends totally on the blockchain, so there is no fear. In a decentralized finance system, you don’t need to rely on any bank or broker. Instead, the system utilizes one or more smart contracts to interact with more than one person on the blockchain. A great example of a smart contract-supported crypto is Ethereum.

    The decentralized finance system allows flexibility and opportunities. Therefore, there is an opportunity to apply this system in diverse strategies with corresponding risks and rewards. So with this decentralized system, risk parity is a possibility to reduce risks in crypto.

    Regulations

    Cryptocurrency is decentralized and doesn’t depend on any regulation or individual. However, the market trends get heavily influenced by the regulations. As a result, one of the most effective ways to reduce risks in crypto will be to mitigate adverse rules. If you remember, the crash of cryptocurrency in May went down heavily because of a Chinese ban on Bitcoin. If these regulations against cryptocurrency begin to support the system, more trust will be generated around the system.

    Conclusion

    Cryptocurrency reading and investing is just as rewarding as it is risky. So you need to know how to manage your risks.

    Meme Coins, NFTs, and Exchange Tokens as Part of Thailand Crypto Ban

    Thailand is the most recent country to enforce cryptocurrency trading restrictions. The Securities and Exchange Commission (SEC) of the Southeast Asian nation has banned meme currency like Dogecoin. A couple of days back now, exchanges were given 30 days to delist the coins and NFTs, utility tokens, and social tokens.

    According to the Thai SEC, the new laws are intended to safeguard traders from tokens that have “no apparent objective or substance” and whose prices are influenced by social media trends and influencers. Dogecoin, in particular, has seen its online popularity explode as a result of Elon Musk’s remarks (including during his stint hosting SNL). The price of the so-called meme coin has changed recently due to crypto volatility fueled by Chinese sanctions and impending limitations in India.

    These regulations are indeed suitable for running the economy the way it should be run. These wouldn’t mean the death of the cryptocurrency market in Thailand, nations with such measures, and those looking to implement some. In the time of all this, you can trade with us, risk-free, on the Blockchain-based fantasy platform, Fanspel, to earn amazing rewards.

    Final Thoughts

    In general, the bitcoin economy is booming, with new businesses and infrastructure projects springing up all the time. The fact that legal institutions and software development companies are attempting to examine the influence of bitcoin and other digital currencies on the economy’s development is a good indicator.

    This demonstrates that cryptocurrencies are a complicated notion, with the relationship that arises from their use being understood in a variety of ways, and no regulator has yet reached an agreement on the subject.

     

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