Is Bitcoin the only cryptocurrency to bet on?

Is Bitcoin the only cryptocurrency to bet on?

Positive news these days Lightning Network for Bitcoin. The King of Cryptography has arrived thanks to this Layer 2 Capacity 5000 Bitcoin.

Despite macroeconomic momentum and lower prices, adoption continues to grow.

lightning network Allows users to send Bitcoin quickly and at very low prices. In fact, the higher the capacity of the network, the higher the volume of potential transactions.

According to the KuCoin exchange, in its report entitled “Into the Crypto,” He explained that India could be one of the leading countries in this field. Youngest and most experienced investors (about 15%) said they own a portion of their cryptocurrency investments.

Coming back to the price of Bitcoin, it has been clinging to the $20,000-19,000 threshold for months now (since June), thanks to scammers who have held the cryptocurrency for a long time. Key support, corresponding to the highs recorded in 2017, which should see the price head towards $18,000-$17,000.

Bitcoin psychological support

Bitcoin dominance It looks like he’s about to recover. In the past, whenever it retested 39.5-40% it subsequently led to a rebound.

btc . domination
BTC dominance: Is it time to “ditch” altcoins?

The problems of lack of regulation and Italian OAM

As we all know, the crypto approach seems to be very cautious in many European and non-European countries. This is because, unfortunately, the suspicion surrounding this “new world” is greater than that of other innovations and developments.

Despite this, Italy has more than 70 cryptocurrency companies, such as Queen BeesAnd the And the Binance, got regulatory approval without really proper checks. The problem is certainly not with the platforms but with how the Italian bases are structured.

What is surprising is that the Italian OAM (Authority for Supervising Agents and Brokers)which is responsible for managing the lists of financial agents operating in the state (the regulatory authority), which is often criticized in many European countries due to delays in processing, immediately added 73 crypto companies to the new list of service providers.

Obtaining regulatory approval from a regulator for all investors indicates that a particular company has been “reviewed”, but in Italy, it may not yet have done so. In fact, it was confirmed to CoinDesk, that the regulator is deciding how to collect data from companies and is likely to start doing so next year. This means that money flows are currently not monitored to prevent malicious parties from using the platforms.

Currently, all that Italy requires is “only” registration.

Promise that the company will be scrutinized by regulators in the future?

This is one of the many reasons why it is a good idea to research a company before investing money in projects. If we hear a lot about scams and projects that disappear into thin air overnight, it’s partly because of poor regulation.

These episodes weren’t a few: The (unofficial) TV series-inspired Squid game icon has collapsed to zero. From its peak at $2,656 While the developers got what they claim More than 3 million dollars With the rug pulled. Bitconnectan Indian company that promised 120% returns per annum (if the revenue generated after one year is deducted), through the Ponzi scheme, enabled its (unknown) founders to earn about 2 billion dollars.

But the biggest scam in the history of cryptocurrency in terms of stolen funds is probably OneCoin More than 10 billion dollars in funds were obtained from it. The Ponzi scheme also consisted of buying packages and having other people buy them of varying value, gaining access to training courses on trading, blockchain and receiving tokens as gifts.

BNB . Chain Status

A few days ago, BNB Chain, the blockchain for cryptocurrency exchange Binance, It was off (for a few days) due to a $100 million cross-chain vulnerability (a structural error appeared that allowed for block verification fraud).

BNB confirmed that all funds were safe. It also froze another $400 million in time, while Tether blacklisted all of the accused titles.

It should be noted how quickly the BNB chain was banned. This is a clear sign of the centrality of the network, which attracted the disaffected to itself. But what would have happened if the latter had not been stopped, demonstrating decentralization? Sometimes, that’s not a bad thing. But this again shows that 90% of DeFi More central than one might think.

#Bitcoin #cryptocurrency #bet

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