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The curtain has just fallen on another financial year, and Australian crypto investors now find themselves at a familiar crossroads — navigating the complexities of declaring their crypto activities for tax purposes. With the Australian Taxation Office (ATO) intensifying its scrutiny on crypto transactions, ensuring accuracy in your tax declaration has never been more critical.This year, we’ve partnered with<a href="https://www.syla.com.au/" rel="noopener noreferrer" target="_blank"> Syla</a>, to provide some tips for a hassle-free tax reporting.<h2>Understanding your crypto tax obligations</h2>Before diving into the mechanics of calculating your crypto taxes, let's address the elephant in the room: Why do crypto investments concern the ATO?Well, the ATO treats cryptocurrency as a form of property and subjects it to Capital Gains Tax (CGT). This means if you've sold, traded, spent, or gifted crypto, you're required to declare any capital gain or loss from those transactions.Now, many investors believe that if they don’t withdraw their profits to an Australian bank account, they aren’t liable for tax.This, unfortunately, is a pitfall you need to avoid.The ATO requires reporting on all gains, regardless of whether they're converted to AUD or not. Every transaction — no matter how small — needs to be tracked and reported.<h2>Steps to calculate your crypto taxes</h2><h3>1. Collect your transaction history</h3>Record keeping is key. You can start by logging in to your Coinstash account, and downloading a copy of your transaction history from the Transactions page. This statement includes every trade, sale, purchase, and any other transactions which occurred on your account and is designed to meet the ATO record keeping requirements for cryptocurrency.If you use Syla or another crypto tax software, you can also sync your transactions directly by setting up an API sync directly from Coinstash. This is also a great way to keep track of your tax position through the year.<h3>2. Select the right crypto tax software</h3>When it's time to determine your capital gains or losses — essentially, the fluctuation in value from when you acquired your cryptocurrency to when you parted with it — you need something dependable to avoid unnecessary headaches, a crypto tax software.When deciding which crypto tax calculator to select, you should consider the following:<ul><li>Has the software been designed for Australian tax?</li><li>What is the cost, particularly if you have a lot of transactions?</li><li>Does it do any tax optimisation for you?</li></ul>We recommend giving Syla a go. It’s an Australian company, and their<a href="https://www.syla.com.au/" rel="noopener noreferrer" target="_blank"> crypto tax calculator</a> has been designed specifically to handle Australian tax, it also has built-in tax optimisation to help reduce your taxable income.<h2>Strategic approaches to minimise your crypto tax bill</h2><h3>3. Leverage tax-loss harvesting</h3>One effective strategy to reduce your crypto tax liability is tax-loss harvesting. This involves selling cryptocurrencies that are at a loss and using these losses to offset your capital gains. It’s a practical approach that can optimise your tax outcome, but timing and careful calculation are essential. Make sure you’re not doing a wash sale where you sell and immediately rebuy the same assets.<h3>4. Hold assets to benefit from long-term gains</h3>Assets held for over a year typically qualify for a CGT discount — currently, this is 50% for individuals. This means holding your cryptocurrency for the long term can decrease the tax you owe on gains. This strategy requires patience and some tolerance for market fluctuations.<h3>5. Regularly review and plan your crypto portfolio</h3>Effective tax planning shouldn’t happen once a year. Instead, it should be an ongoing process. Regular reviews of your crypto portfolio can help you make informed decisions throughout the entire year. Not only does this prepare you for tax time, but you’ll also align closely with best investment practices.<h2>Accurate reporting to sort out your tax return</h2><h3>6. Lodging your tax return</h3>When it's time to lodge your tax return, accuracy is key. Your tax software will help you to generate a Crypto Tax Report containing all of your tax outcomes. This detailed and precise documentation is invaluable and can be provided to your tax agent, or you can use it yourself to self-lodge your own tax return.<h3>7. Stay informed on regulatory changes</h3>The landscape of cryptocurrency taxation is ever-evolving. Staying updated with the latest ATO guidelines and regulatory changes is crucial and is a responsibility that you need to take seriously. Using software that is always updated to reflect the latest regulations provides you with peace of mind and an assurance of compliance.<h2>Tax wrap-up</h2>As the Australian crypto landscape continues to evolve, so does the intricacy of crypto taxation. But with the right tools and approach, declaring your crypto taxes doesn't have to be daunting. By leveraging the power of crypto tax software, you can embrace the new financial year with open arms and a clean tax slate, knowing that you’re well-prepared to meet your obligations without the hassle.<h2>About Syla</h2>Syla is an Australian crypto tax software and an official tax partner for Coinstash. Created by a team of tax professionals, you can get your ATO crypto tax report which is optimised to save you tax.<ul><li>Best value - affordable plans supporting up to 100,000 transactions.</li><li>Maximise your tax savings - using Syla’s proprietary LTFO method.</li><li>Private wealth - support for company, trust and SMSF accounts.</li></ul><h2>Special offer</h2>Use the code STASH5 at checkout to get your first year of Syla’s Budget Plan for only $5. Valid until 31 July 2024.Use the code STASH50 at checkout to get 50% off your first year on any Syla plan. Valid until 31 October 2024.For more detailed guidance on managing your crypto taxes, visit<a href="https://syla.com.au/" rel="noopener noreferrer" target="_blank"> Syla's official website</a>.

Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

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How to buy Coq Inu (COQ) in Australia on the Coinstash platform. Coinstash is a secure and user-friendly cryptocurrency exchange.

How to buy Coq Inu (COQ) in Australia

On Track for Your 2024 Tax Return: A Stress-Free Guide for Investors

Dear Coinstashers,We are excited to announce that Coinstash has added DeFi support for the Solana ecosystem!Coinstash users can now seamlessly buy and sell Solana tokens (SPL) directly on our platform. This addition builds on our existing support for networks like Ethereum, Polygon, Avalanche, BNB, and many others, further simplifying your crypto investing experience.&nbsp;The Solana ecosystem has seen a remarkable surge in popularity over the past year, giving rise to many of this year's most talked-about tokens. With this integration, accessing the latest and most popular Solana tokens is now easier than ever. Whether you’re interested in newly emerging tokens or established favourites, Coinstash provides a secure and convenient gateway to explore the dynamic world of Solana.<h2>Only Possible on Coinstash</h2>Until now, Australian crypto traders and investors who wanted access to the Solana ecosystem had to navigate the complexities of managing multiple crypto wallets, apps, or browser extensions to keep track of their assets across various platforms. With this Solana DeFi integration, Australians can now access the world of Solana effortlessly. Our built-in DeFi aggregator allows you to buy and sell SPL tokens directly on Coinstash. We are proud to be the only centralised Australian crypto exchange with native DeFi technology, enabling you to trade DeFi tokens across multiple networks from one secure platform.<h2>Seamlessly Trade Solana Tokens Now</h2>To start trading Solana tokens, simply <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">sign up</a> or <a href="https://coinstash.com.au/auth/signin" rel="noopener noreferrer" target="_blank">login</a> to your Coinstash account and select your preferred Solana-based token to trade.&nbsp;For any assistance or queries regarding Solana Swaps, feel free to contact our customer support team.Happy Trading!The Coinstash Team

Coinstash Introduces Support for the Solana Ecosystem

<h1>Best Crypto-Friendly Banks in Australia</h1>Most major Australian banks have introduced restrictions on customers interacting with cryptocurrency exchanges in recent years. If you've traded crypto using a centralised exchange, you've likely faced challenges transferring Australian dollars (AUD) to and from these platforms. Based on our anecdotal discussions with crypto investors, this article summarises their banking experiences when transferring funds to exchanges.Key Takeaways<ul><li>Crypto Friendly Banks: According to our survey participants, ING, ANZ, and NAB are generally more accommodating of crypto transactions and offer better support for crypto users.</li><li>Less Friendly Options: Based on our findings, CBA, Westpac and Macquaire are less supportive, making them more challenging for crypto users.</li><li>Varied Policies: Most major Australian banks have different policies towards cryptocurrency transactions.</li></ul><h2>The Australian Banking Landscape for Crypto Investors</h2>Our anecdotal discussions with cryptocurrency investors have revealed a complex and varied banking landscape in Australia when it comes to transferring funds to exchanges. While some banks are supportive, others maintain more restrictive stances. However, despite their public stances, our respondents observed a lack of consistency between their public comments and their actual policies.&nbsp;While these measures aim to protect consumers, they often hinder legitimate crypto traders and investors. These restrictions can lead to delays in processing payments, blocks on certain transactions, and even the termination of banking services. These barriers pose significant challenges for those seeking to actively participate in the crypto market.To help you navigate this complex landscape, we have summarised which banks our survey participants thought were the most crypto-friendly.&nbsp;<h2>Crypto-Friendly Banks Australia</h2><h3>ING</h3>Our survey results indicate that ING is considered a crypto-friendly bank. They have no official restrictions on payments to and from crypto platforms or specific exchange platforms. Our research indicates that ING customers generally experience fewer issues with transfers to Coinstash compared to other banks.Pros:<ul><li>&nbsp;Fewer incidents of delays in transferring funds to Coinstash.</li></ul>Cons:<ul><li>Deposits exceeding $1,000 may get delayed up to one business day.&nbsp;</li><li>Does not support business accounts, limiting its suitability for professional crypto traders or businesses involved in cryptocurrency.</li></ul><h3>ANZ</h3>ANZ is well-regarded as a crypto-friendly bank based on our survey feedback. They do not impose specific transfer limits to Coinstash. However, transactions may occasionally be delayed or held for review. New customers, in particular, might experience delays as their transactions undergo review by their fraud team.Pros:<ul><li>No rigid transfer limits.</li></ul>Cons:<ul><li>Initial transactions might encounter delays and require interactions with the bank’s security team to resolve.</li></ul><h3>NAB</h3>According to our survey participants, NAB is generally viewed as a crypto-friendly bank. Our findings indicate that NAB is less accommodating towards certain high-risk international exchanges, consistent with their <a href="https://www.nab.com.au/about-us/security/cryptocurrency-transaction-changes" rel="noopener noreferrer" target="_blank">stated policies</a>. However, they are notably more supportive of reputable and registered Australian exchanges, such as Coinstash.Pros:<ul><li>Willing to discuss flagged transactions with customers.</li></ul>Cons:<ul><li>There is a daily transaction limit of $40,000, which could be restrictive for users making larger transactions.</li></ul><h2>Banks Less Friendly to Crypto</h2>Commonwealth Bank (CBA)Our survey results indicate that CBA is less friendly towards crypto exchanges. This aligns with <a href="https://www.commbank.com.au/support/security/cryptocurrency-payments.html" rel="noopener noreferrer" target="_blank">recent statements from CBA</a>, which outline a limit on payments to crypto exchanges, capped at $10,000 per calendar month per account. Additionally, anecdotal evidence from our findings suggests that transfers to cryptocurrency exchanges may result in account closures.Cons:<ul><li>$10,000 monthly cap on crypto transactions per account, which can be limiting for active traders and investors.</li><li>Transfers to cryptocurrency exchanges may potentially result in account closure.</li></ul><h3>Westpac</h3>Westpac maintains a conservative stance on digital assets and has no official policy towards crypto transactions. In their <a href="https://www.westpac.com.au/about-westpac/media/media-releases/2023/18-May/" rel="noopener noreferrer" target="_blank">press release</a> from May 2023, Westpac announced that crypto transactions would be severely restricted in the name of scam protection. However, this policy is vague about the specific measures introduced. Westpac customers from our survey report delays when transacting with certain international platforms, but satisfactory experiences with Australian exchanges. This inconsistency between official policy and actual user experiences makes Westpac a less reliable choice for regular crypto transactions.Cons:<ul><li>Inconsistent experiences may make it unreliable for regular crypto use.</li></ul><h3>Macquarie Bank</h3>Macquarie Bank also has no official policy on crypto transactions and has provided very few comments on the subject. Anecdotal evidence from our survey presents a mixed story among users. Some report successful transactions, while others recount experiences of being debanked.&nbsp;Cons:<ul><li>Varied customer experiences make it challenging to predict transaction success.</li></ul><h2>Closing Thoughts</h2>Navigating the Australian banking landscape as a crypto investor can be challenging due to varying policies and restrictions. Based on our survey findings, banks like ING, ANZ, and NAB offer more supportive and flexible environments for crypto transactions. In contrast, others like CBA, Westpac, and Macquarie Bank provide little clarity on their policies and present potential hurdles for users. Understanding these differences is crucial for making informed decisions and finding the most suitable banking partner for your cryptocurrency activities.

Best Crypto-Friendly Banks in Australia

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Crypto Chronicle - 06/06/24

The crypto market is an exciting and volatile place. But, contrary to popular belief, there is some method to the madness. While market movements may often seem random and unpredictable, over time, they tend to follow a fairly predictable pattern.&nbsp; As a trader or investor, understanding crypto market cycles is important to make informed investment decisions. In this article, we’ll demystify crypto market cycles, the dynamics of their four phases and the factors that influence them. By the end of this you'll be well-equipped to navigate the ever-changing digital asset landscape. <h2>What is a Crypto Market Cycle?</h2>The crypto market cycle refers to the recurring price patterns and trends that characterise the movement of the market over time.&nbsp; Just like traditional financial markets, the crypto market experiences cyclical periods of growth and decline. This natural ebb and flow is fueled by various factors, including the psychology of market participants and the overarching economic landscape. However, compared to the stock market, crypto market cycles boast their own distinctive traits and can be strikingly shorter due to their inherently <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">volatile price swings</a>. You can think of the market cycle as a blueprint outlining all the stages between the peak and low of a market. It offers invaluable insights to traders and investors, serving as a popular tool to anticipate future price movements.<h2>The Four Phases of a Market Cycle</h2>To fully grasp the concept of a crypto market cycle, it's essential to understand its four distinct phases: Accumulation, Markup, Distribution, and Markdown. Each phase has unique characteristics that can help investors identify opportunities and risks.&nbsp; Let's take a closer look at each of these phases.<h2>The Accumulation Phase</h2>Accumulation marks the beginning of every crypto market cycle. Following the end of the previous cycle after a sharp rise and dramatic fall in prices, savvy investors and long-term holders start to accumulate undervalued cryptocurrencies, believing that the market has bottomed out.&nbsp; During this phase, market volume is typically lower than average, as interest remains low. With no clear trend emerging, assets usually trade within a tight range. Prices are so stable during accumulation that some refer to this stage as "consolidation." Characteristics:- Market sentiment gradually transitions from uncertainty to hopeful neutrality- Low trading volume- Low price volatility- Tight trading range Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-dollar-cost-averaging-dca" rel="noopener noreferrer" target="_blank">Crypto Dollar Cost Averaging Explained</a><h2>The Markup Phase</h2>As the Accumulation Phase ends, the Markup Phase begins, marked by a significant increase in market interest and positive sentiment. New traders and investors enter the market, driving up demand for cryptocurrencies, asset prices, and trading volumes. Market conditions improve with a sustained positive trend, often fueled by media hype, increased public awareness, and a fear of missing out (FOMO) among retail investors. This stage is commonly deemed as the start of the <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">bull market or bull run</a>. Characteristics:- Bullish and positive market sentiment- Demand outweighs supply- Prices trend upwards, making new all-time highs- Trading volume increases- Media hype builds Despite the overall bullish trend, not all assets will necessarily increase in price during the Markup Phase. Some will still be affected by negative news and experience major pullbacks or corrections that go against the general market trend.&nbsp; Recommended Reading: <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">Bull vs Bear Market: What’s the difference?</a><h2>The Distribution Phase</h2>The Distribution Phase commences as the market reaches its peak, with bulls and bears battling for dominance. Although trading volume remains high, asset prices fluctuate within a tight trading range until one side concedes. Market sentiment transitions from optimism to mixed emotions, driven by <a href="https://coinstash.com.au/blog/crypto-fear-greed-index" rel="noopener noreferrer" target="_blank">fear, greed</a>, and hope. Towards the end of this phase, the market will move in the opposite direction. This can take weeks or several months to play out, but typically the higher the extreme highs, the quicker the pieces fall. Investors who missed selling earlier at a profit now settle to break even — or take a slight loss. Characteristics:- Market Sentiment is mixed- Demand meets supply for a time- Price volatility is low- Trading volume is consistently high Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-fear-greed-index" rel="noopener noreferrer" target="_blank">Crypto Fear and Greed Index Explained</a><h2>The Markdown Phase</h2>The fourth and final phase of market cycle's is the Markdown Phase, also known as the <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">bear market</a>. As supply exceeds demand, upward market momentum slows down, buying interest dries up, and no new capital enters the market. Selling pressure builds, and fear fuels the market, leading to a sharp decline in prices, hence the name Markdown. With red the candle colour of the day, many new investors exit the market or become forced sellers.&nbsp;Panic selling frequently takes hold, potentially triggering a domino effect of plummeting prices across all assets. In certain instances, this may drive asset values down to points not witnessed since the Markup Phase. Numerous investors may face considerable losses, as the market experiences a notable decline in trading volume as participants opt to bide their time on the sidelines. For those who remain patient and vigilant, the Markdown Phase can offer opportunities to accumulate cryptocurrencies at discounted prices, preparing for the next Accumulation Phase and the start of a new cycle. Characteristics:- Market sentiment is bearish- Supply outweighs demand- Price volatility is high- Trading volume is low<h2>Factors That Affect a Crypto Market Cycle</h2>While major headlines and macroeconomic data can impact the crypto space, many sector-specific factors influence prices. These features may help explain why crypto prices move up, down, or sideways.&nbsp; Bitcoin Halvings: Every four years, the issuance rate of new <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">Bitcoin (BTC)</a> is cut in half in an event known as “the Bitcoin Halving”.With a reduction in supply, demand for BTC can increase, which generally pushes the price of BTC higher. As the market's leading asset, when Bitcoin's price rises, most other asset prices (except Stablecoins) tend to increase too. Historically, Bitcoin's halvings have coincided with a new markup phase, making it a good indicator to pay attention to. Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin (BTC)? A Beginner’s Guide</a> Major Crypto News: Positive or negative news stories and media attention can influence investor perception and participation in the market, contributing to the cyclical nature of the market. Notable recent events such as Terra (LUNA) imploding or the FTX debacle have all had lasting ripple effects across the crypto industry. Regulation and policy changes: Government policies and regulations related to cryptocurrencies and crypto trading, such as taxation, security measures, or bans, can significantly influence market cycles by either encouraging or discouraging investor participation. Social Media Sentiment: Social media platforms like Twitter, Telegram, and Discord have become major hubs in the crypto community. The collective mood of investors in these spaces can greatly impact sentiment in the market and potentially indicate whether there's a bull or bear market on the horizon.<h2>How Long Does a Crypto Cycle Last?</h2>The crypto market, though relatively new, has gone through a number of market cycle patterns. These Bitcoin and crypto market cycles have ranged from a few months to several years, influenced by various internal and external factors. Take the early<a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank"> Bitcoin</a> market cycle in 2013 as an example: the value jumped from $150 to over $1,150 within months before dropping back to $250 by early 2015. Another cycle started in 2017, with the Bitcoin price rising from $1,000 to a peak of $19,000 and then declining to around $3,700 by the end of the markdown phase in 2020. Observing these patterns, some investors subscribe to the "four-year cycle theory." This idea proposes that a major markup phase occurs a few months after Bitcoin's supply is halved every four years. Where crypto assets then reach unsustainable peaks before their prices drop and stabilize close to the previous cycle's highs. They remain in this accumulation phase until the next Bitcoin halving. It's important to note that while past cycles witnessed notable "booms and busts" following previous Bitcoin halvings, there's no guarantee this trend will continue next cycle. Be cautious when relying on this theory, as it's based on a small sample size and unforeseen "<a href="https://www.investopedia.com/terms/b/blackswan.asp" rel="noopener noreferrer" target="_blank">black swan events</a>”&nbsp;could invalidate it.<h2>Investment Considerations</h2>Understanding the four phases in a crypto market cycle can provide valuable insights for investors seeking to navigate the dynamic world of digital assets. While there is no surefire way to predict the future, we can better understand the bigger picture by knowing how market cycles work.&nbsp; It’s important to be aware of the state of the crypto market before you press the buy or sell button. By staying informed and maintaining a disciplined approach to investing, you can maximize potential gains and minimize losses in the ever-evolving cryptocurrency market.<h2>Start your cryptocurrency journey with Coinstash</h2>As one of Australia's leading cryptocurrency exchanges, we understand the power of crypto and its role in shaping the digital age. And with our user-friendly platform, it's easier than ever to get started. So why not explore the exciting world of crypto with Coinstash today? With our feature-packed app and industry-leading security practices, you can start building your crypto investment portfolio with confidence. Simply sign up to buy, sell, and trade crypto in minutes. <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a> <h2>FAQs</h2>

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Crypto Market Cycles Explained

The highly retail-focused nature of the crypto market causes emotions to play a bigger role compared to traditional markets. Crypto traders and investors often succumb to fear of missing out (FOMO) during rising markets and panic sell during downturns. Understanding the prevailing sentiment is crucial for making informed decisions and can save market participants from their own emotional reactions. The crypto Fear and Greed index is a valuable tool that measures the sentiment of the crypto market using data and market indicators. In this article, we will explore what the crypto Fear and Greed index is, how it works, and how you can use it to make better investment decisions. <h2>What is the Crypto Fear and Greed Index?</h2>The crypto Fear and Greed index is a metric that tracks the emotions and sentiments of investors towards the cryptocurrency market. It was created by <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer" target="_blank">alternative.me</a>, a platform that provides insights into the cryptocurrency market. The index is a numerical representation of the degree of Fear or Greed present in the market, based on a combination of various factors. The crypto Fear and Greed index is similar to the Fear and Greed index used in the stock market, which measures investor sentiment towards stocks. Both indexes reflect Warren Buffet’s widely-cited quote: “Be fearful when others are greedy, and greedy when others are fearful”. However, the crypto Fear and Greed index is unique in that it is specific to the cryptocurrency market, which is known for its highly volatile nature.<h2>How does the Crypto Fear and Greed Index work?</h2>The crypto Fear and Greed index analyses multiple indicators to provide a metric value between 1 and 100. The index levels can be broadly separated into these categories: -A score of 1-24 represents extreme fear&nbsp;-A score of 25-49 is an indicator of moderate fear&nbsp;-A score of 50 signifies a neutral market&nbsp;-A score of 51-74 indicates moderate greed&nbsp;-A score of 75-100 represents extreme greed The crypto Fear and Greed Index is refreshed every 24 hours and delivers insights on the present day's index, as well as the previous day's score, a weekly average of the index, and a monthly average of the index. It's worth noting that the Fear and Greed Index presently focuses solely on <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin</a>-related market data, rather than incorporating indicators and data for the overall cryptocurrency market. The reason for this is that Bitcoin's fear or greed sentiment tends to be closely associated with the broader digital asset market, with significant shifts in Bitcoin's price often affecting the market as a whole. *Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin? A Beginner’s Guide</a><h2>What does the Crypto Fear and Greed Index measure?&nbsp;</h2>To calculate the index, alternative.me uses a complex algorithm that analyses a range of factors and assigns a score to each of them. These scores are then weighted and combined to give an overall score for the index. The index looks at the following factors to calculate the value: Volatility: makes up 25% of the index and is measured by comparing Bitcoin's 30 and 90-day market volatility to drawdowns. Higher volatility is associated with fear. <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">Learn more about crypto volatility here</a>.&nbsp; Market momentum/volume: makes up 25% of the index and is measured by comparing the volume and momentum of the Bitcoin market to 30 and 90-day averages. High volume and momentum indicate negative sentiment but increase the index value, indicating greed. Social media Sentiment: accounts for 15% of the index and is measured by quantifying the total number of social media posts related to Bitcoin and their average engagement rates. High social media interactions suggest greed. Bitcoin dominance: accounts for 10% of the index and measures Bitcoin's market capitalisation compared to the overall market cap of the entire crypto market. Lower <a href="https://coinstash.com.au/blog/bitcoin-dominance-explained" rel="noopener noreferrer" target="_blank">Bitcoin dominance</a> suggests that investors are focusing on <a href="https://coinstash.com.au/blog/crypto-altcoin-season" rel="noopener noreferrer" target="_blank">altcoins</a>, indicating market greed. Google Trends: make up 10% of the index and pull data on the frequency and intensity of Bitcoin-related search terms. Higher search interest is generally associated with greed, while negatively correlated search terms may indicate fear in the market. Survey results: make up 15% of the index score, but this input is currently paused and has been for some time.<h2>Why measure Fear and Greed?</h2>With Warren Buffet’s quote as a foundation, the Fear and Greed index hinges on two fundamental assumptions - extreme fear often leads to panic and overselling, which could represent a buying opportunity, and extreme greed suggests the market could be overvaluing assets, which could signal an ideal time to sell. Many traders and investors often make decisions based on their emotions rather than logic, and fear and greed are two of the most powerful emotions that drive investment decisions. Measuring the sentiment of the market can provide valuable insights into investor behavior and help investors make more informed decisions. *Recommended Reading: <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">Bull vs Bear Market: What’s the difference?</a><h2>Investment Considerations</h2>Investors should be mindful of their own emotions when making investment decisions. Fear and greed can cloud judgment and lead to irrational decisions. While the crypto Fear and Greed index can provide valuable insights into the sentiment of the market, it should not be the sole factor in making investment decisions. The index is based on a combination of factors, some of which may be subjective or difficult to quantify. Moreover, market sentiment can change rapidly and unpredictably, so it is important to take a long-term view when investing in cryptocurrencies.&nbsp;<h2>How to invest in crypto with Coinstash</h2>Want to start crypto investing but not sure how? The easiest way to start your crypto investment journey is with an online exchange like Coinstash. With low fees, low spreads and a feature-packed app, Coinstash makes it simple and safe to buy, sell and hold crypto in Australia. Not yet a client? <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a>

Crypto Fear and Greed Index Explained

As the world of Bitcoin and cryptocurrencies continue to grow and experience increased global adoption, there's no better time to debunk the most prevalent myths and misconceptions about this rapidly evolving industry. If you've ever believed that Bitcoin has no intrinsic value or that cryptocurrencies are too volatile to serve any practical purpose, this guide is for you. Join us as we debunk the most common Bitcoin and crypto myths, separating the fact from fiction and revealing the signal from the noise.<h2>Top 5 Myths about Bitcoin</h2><h3>Myth #1: Bitcoin is a Bubble</h3>Many critics argue that <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin (BTC)</a> is a bubble, destined to burst and leave investors with significant losses. While it's true that some people invest in Bitcoin speculatively, seeking considerable returns, that doesn't automatically make Bitcoin a Bubble. Although Bitcoin has experienced <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">volatile</a> price fluctuations throughout its 14-year history, it has consistently demonstrated resilience and an ability to bounce back. Bitcoin has weathered every boom and bust price cycle it has encountered to achieve new all-time highs. Many Bitcoin enthusiasts see these price cycles as a natural feature rather than a bug, arguing that such boom and bust cycles are typical of emerging markets. Price cycles are common with new technologies as they undergo a process of price discovery, where the market determines their true worth. Similar patterns were evident with the internet and the dot-com era in the nineties. As Bitcoin continues to evolve and gain wider adoption worldwide, supporters expect less dramatic price swings and longer intervals between them, resulting in a more stable price in the future. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-market-cycles" rel="noopener noreferrer" target="_blank">Crypto Market Cycles Explained</a><h3>Myth #2: Bitcoin has No Real-world Use Case</h3>Some critics claim that Bitcoin lacks real-world utility or that it is primarily used for illicit activities. However, these claims are far from the truth. Bitcoin has a well-established history as a medium of exchange and a means of making global payments without the need for banks or payment processors as intermediaries. Moreover, it has gained traction as an inflation-resistant store of value, similar to gold, among institutional investors. Since its inception, the value of Bitcoin has experienced a <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">highly appreciative growth trajectory</a>. Many of its proponents advocate for Bitcoin as ‘Digital Gold’ due to its similar characteristics, namely its scarce supply and durability. A growing list of prominent funds and publicly traded companies, such as Tesla, Square, and MicroStrategy, have invested millions or even billions of dollars in Bitcoin as a strategic asset management approach in recent years. Moreover, <a href="https://www.npr.org/2021/09/07/1034838909/bitcoin-el-salvador-legal-tender-official-currency-cryptocurrency" rel="noopener noreferrer" target="_blank">small countries such as El Salvador have even made Bitcoin legal tender.&nbsp;</a> While it's true that some individuals misuse Bitcoin, its illicit use pales in comparison to that of the US dollar.&nbsp;A recent report by Chainalysis shows that <a href="https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/" rel="noopener noreferrer" target="_blank">illicit activity accounted for only 2.1% of Bitcoin transactions in 2019</a>. Furthermore, since all Bitcoin transactions occur on a transparent blockchain, tracking illicit activities is often easier for authorities compared to the traditional financial system. Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin (BTC)? A Beginner’s Guide</a><h3>Myth #3: Bitcoin Doesn’t Have Real Value</h3>Critics argue that Bitcoin lacks intrinsic value as it is not backed by a physical asset like gold. However, the same case could be made for the US dollar or virtually any other modern fiat currency.&nbsp; Bitcoin's value is derived from its unique properties, such as decentralisation, security, and digital scarcity. Bitcoin is hard-coded to be scarce, with a 21 million coin supply hard-cap, which helps make it resistant to inflation. Unlike fiat currencies, which can be printed infinitely at the whim of their governments and banks. Not only is the supply capped, but the amount of new Bitcoin being mined is declining over time in a predictable way. The issuance rate is cut in half approximately every four years, in an event known as ‘the halving’. This deflationary supply schedule has worked to keep the price of Bitcoin broadly trending upwards over the long-term since its creation. For a more in-depth view, read our article: <a href="https://coinstash.com.au/blog/buy-bitcoin-btc-australia" rel="noopener noreferrer" target="_blank">How to Buy Bitcoin (BTC) Easily in Australia</a><h3>Myth #4: Bitcoin will be Replaced by a Competitor</h3>Bitcoin stands as the world’s first and most widely recognised cryptocurrency. While thousands of cryptocurrencies have emerged with the promise of replacing Bitcoin with innovative new features or advantages, none have succeeded in dethroning the king. But why? Bitcoin's first-mover advantage and extensive network effect make it highly resilient against being replaced in the near future. It remains the most valuable cryptocurrency by market cap and enjoys widespread popularity, accounting for around <a href="https://coinmarketcap.com/" rel="noopener noreferrer" target="_blank">45% of the entire crypto market</a>, at the time of writing. Indeed, it's nearly impossible to replicate the unique circumstances surrounding Bitcoin's creation, its story, and distinctive features. While it's possible that other digital assets may expand their market share relative to Bitcoin and potentially overtake it, developing a superior version of Bitcoin that retains its one-of-a-kind features as a digital store of value seems highly unlikely in the near future. Recommended Reading: <a href="https://coinstash.com.au/blog/bitcoin-dominance-explained" rel="noopener noreferrer" target="_blank">Bitcoin Dominance Explained</a><h3>Myth #5: Bitcoin is Bad for the Environment</h3>Environmental sustainability has been a key topic in the ongoing debates over Bitcoin (BTC) mining, with many critics questioning the energy consumption of the biggest cryptocurrency in the world. However, recent research has indicated that the reality is very different from the perception shared by the media. A considerable portion of Bitcoin's Proof of Work (POW) relies on renewable energy sources, such as wind, hydro, and solar power. Recent research has shown that the Bitcoin mining industry uses <a href="https://bitcoinminingcouncil.com/bitcoin-mining-council-survey-confirms-year-on-year-improvements-in-sustainable-power-mix-and-technological-efficiency-in-q4-2022/" rel="noopener noreferrer" target="_blank">58.9% sustainable energy in its operations.</a>&nbsp; It can even be argued that the economic incentives intrinsic to Bitcoin mining are driving sustainable energy innovation, as miners constantly strive to boost profits by reducing electricity expenses—in a world where renewable energy is swiftly becoming the most cost-effective option. The industry is increasingly seeking greener energy sources and more efficient crypto mining methods. Bitcoins energy consumption and carbon footprint cannot be examined in a vacuum. It's important to consider Bitcoin's relative energy consumption against the industries with which it is competing, like the traditional financial systems and gold. <a href="https://ark-invest.com/search-tags/blockchain/" rel="noopener noreferrer" target="_blank">Research by New York-based Ark Investment Management</a> reveals that "Bitcoin is much more efficient than traditional banking and gold mining on a global scale."<h2>Top 5 Crypto Myths and Misconceptions</h2><h3>Myth #1: Cryptocurrencies are Only Used for Illicit and Criminal Activities</h3>One long-standing and widespread myth surrounding digital currencies is their association with illegal activities. The perceived anonymity and decentralised nature of crypto have given rise to concerns that they facilitate criminal activity. However, neither blockchain nor cryptocurrencies are inherently illicit, just as fiat currencies aren't inherently illicit despite sometimes being used for illegal purposes. All monetary assets and technologies, including cash, the internet, social media, and mobile phones, have the capacity to be used for both good and bad purposes. In reality, the majority of crypto transactions are carried out for legitimate and legal purposes. In fact, according to Chainalysis—a company that assists investigators in cryptocurrency crimes with blockchain data analysis— in 2022, a mere <a href="https://blog.chainalysis.com/reports/2023-crypto-crime-report-introduction/" rel="noopener noreferrer" target="_blank">0.24% of all cryptocurrency transaction volume was linked to illicit activities.</a><h3>Myth #2: Digital Currencies Are a Scam</h3>Cryptocurrencies have gained acceptance as a valid means of exchange among many retailers and merchants. Individuals are using them for personal transactions, and governments are working on ways to regulate them. Most cryptocurrencies do not have programming, code, or malicious intent designed to swindle money from users. However, scams do exist in the cryptocurrency world, as they do in any other financial investment area. These scams are less about the assets themselves and more about the individuals involved – the deceitful fraudster and the unsuspecting victim. For instance, <a href="https://coinstash.com.au/blog/common-crypto-scams" rel="noopener noreferrer" target="_blank">social media giveaways, phishing, romance scams and ICO rug pulls</a> have become increasingly popular.&nbsp; Despite the presence of scams, the vast majority of cryptocurrency transactions are legitimate, and regulatory enforcement continues to evolve to protect users and consumers. It's essential to remember that the potential for scams in the crypto world is not a reflection of the nature of cryptocurrencies themselves but rather the actions of malicious individuals exploiting the system. For a more in-depth view, read our article: <a href="https://coinstash.com.au/blog/common-crypto-scams" rel="noopener noreferrer" target="_blank">5 Common Crypto Scams and How to Avoid Them</a><h3>Myth #3: Cryptocurrencies aren’t Secure</h3>Cryptocurrencies are built on the foundation of blockchain technology, a distributed database secured with advanced encryption techniques. As transactions occur, they are added to the blockchain, which consists of a series of connected blocks. A network of automated systems validates the transaction data, making it extremely difficult to change the information and "steal" cryptocurrency. The real vulnerability lies in how cryptocurrency is accessed and stored, such as in cryptocurrency wallets or centralised exchanges that facilitate transactions. While sending cryptocurrency between users is secure, the platforms and software used to store and access it can be hacked or tampered with. Hence, it's crucial to choose a reliable and trusted cryptocurrency exchange like <a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-dollar-cost-averaging-dca" rel="noopener noreferrer" target="_blank">Crypto Dollar Cost Averaging Explained</a><h3>Myth #4: Cryptocurrencies are mainly used for speculative gambling</h3>Cryptocurrencies like Bitcoin have experienced significant price volatility over the last decade, which has led some critics to label them as purely speculative assets. However, this volatility is a natural feature of new and emerging markets rather than a flaw in the crypto market. As an asset class, cryptocurrencies are still in their early stages of rapid growth, with many cryptocurrency assets being relatively young and still in the process of price discovery. This means that the market is working to determine their fair value, which can lead to price fluctuations. While certain aspects of thecrypto ecosystem are used for speculation, much of the underlying technology is reshaping the financial system as we know it. Cryptocurrencies enable various types of payments for goods and services, including micropayments, peer-to-peer transactions and cross-border payments. Projects like <a href="https://coinstash.com.au/buy/ETH" rel="noopener noreferrer" target="_blank">Ethereum (ETH)</a>, <a href="https://coinstash.com.au/buy/sol" rel="noopener noreferrer" target="_blank">Solana (SOL)</a> and <a href="https://coinstash.com.au/buy/bnb" rel="noopener noreferrer" target="_blank">Binance (BNB)</a> also support use cases such as lending, yield generation, and the buying and selling of non-fungible tokens (NFTs). By providing basic financial services to unbanked or underbanked individuals, cryptocurrencies can be a powerful force for financial inclusion and equity. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">Crypto Market Volatility Explained</a><h3>Myth #5: Cryptocurrencies are a passing Fad</h3>There was a time when computers, the internet, and email were mere curiosities for tech enthusiasts. Fast forward to today, and they've become indispensable in our daily lives, both personally and professionally. The next few decades for cryptocurrencies might be hard to predict, but the impact of the technology they've introduced is undeniable. In fact, <a href="https://www.stuff.co.nz/business/opinion-analysis/300523741/cryptocurrency-adoption-outpaces-the-early-internet" rel="noopener noreferrer" target="_blank">the adoption of cryptocurrency has outpaced even the internet</a>, which was previously the fastest-adopted technology in history. Far from being a fleeting trend, Bitcoin and the broader crypto space have not only survived but thrived for 14 years, establishing formidable network effects. While it remains to be seen if cryptocurrencies will completely replace traditional currencies, their ongoing evolution is evident. The emergence of DeFi applications, NFTs, stablecoins, and regulatory advancements all signal a promising future for the world of cryptocurrencies.<h2>Invest in over 1,000+ Cryptocurrencies with Coinstash</h2>As one of Australia's leading cryptocurrency platforms, we understand the power of crypto and its role in shaping the digital age. And with our user-friendly exchange, it's easier than ever to get started. So why not explore the exciting world of crypto with Coinstash today? With our feature-packed app and industry-leading security practices, you can start diversifying your portfolio today. Simply sign up to buy, sell, and trade over 1,000+ digital assets in minutes. <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a> <h2>FAQs</h2>

Common Bitcoin and Crypto Myths Debunked

Cryptocurrency market capitalisation is a valuable metric used to gauge the size and popularity of a cryptocurrency, and evaluate its value in the market. Understanding market capitalisation, how it's calculated, and the difference between small, medium, and large cap cryptocurrencies is essential for crypto traders and investors to make more informed decisions about their investments. Read on to get the details.&nbsp;<h2>What is Crypto Market Cap?</h2>Crypto market capitalisation, often referred to as “market cap”, is a measure of the total value of all the coins or tokens in circulation. It is a commonly used metric for traders and investors to assess the overall value of a cryptocurrency and its potential for growth. <h2>How is Market Cap calculated?&nbsp;</h2>Market Cap is calculated by multiplying the current market price of an asset by the number of coins or tokens in circulation.&nbsp; Current Price X Circulating Supply = Market Cap Using Bitcoin as an example:US$21,728 (Current Price) X 19,290,231 (Current Circulating Supply) = US$419,154,410,350 (Market Cap), at the time of writing. This can also be referred to as the total value of all Bitcoins.&nbsp; Thankfully, websites like <a href="https://coinmarketcap.com/" rel="noopener noreferrer" target="_blank">CoinMarketCap</a> and <a href="https://www.coingecko.com/" rel="noopener noreferrer" target="_blank">CoinGecko</a> list all the crypto market caps in real time, so you don’t have to crunch the numbers yourself.&nbsp; Market cap can also be applied to measure the total capitalisations of all cryptocurrencies in existence. The total crypto market cap is currently over <a href="https://coinmarketcap.com/charts/" rel="noopener noreferrer" target="_blank">US$1.1 trillion</a> as crypto adoption continues to grow.&nbsp;<h2>Why is Market Cap important?</h2>Price is just one way of measuring a cryptocurrencies worth, but it can be misleading, especially for new investors. Market Cap paints a more complete picture and is a more comprehensive measure of value as it helps illustrate how the world values a particular cryptocurrency and compares its dominance in relation to competing crypto assets. This metric helps traders and investors make inferences about the risk profile of a coin and its potential for long-term growth. Let’s look at an example of two fictional cryptocurrencies to demonstrate:-If Crypto A is worth $1 per coin and has 500,000 coins in circulation, it’s market cap is $500,000- If Crypto B is worth $2 per coin and has $100,000 coins in circulation, it’s market cap is $200,000&nbsp;-As you can see, even though a single coin of cryptocurrency B may be worth more than one of Cryptocurrency A, Cryptocurrency A’s market capitilisation is over double its competitor.&nbsp;<h2>Crypto classification by Market Cap</h2>Cryptocurrencies are generally classified into three main classes based on their market cap:<h3>Small-cap</h3>Small-cap cryptocurrencies tend to have market caps under US$1 billion. These assets are considered to carry the highest levels of risk and can be highly volatile, as they usually have less exchange support and lower volume. Many new cryptocurrency projects - such as <a href="https://coinstash.com.au/buy/IMX" rel="noopener noreferrer" target="_blank">IMX</a>, <a href="https://coinstash.com.au/buy/SNX" rel="noopener noreferrer" target="_blank">SNX</a> and <a href="https://coinstash.com.au/buy/CHZ" rel="noopener noreferrer" target="_blank">CHZ</a> - fall into this category<h3>Medium-cap</h3>Medium-cap cryptocurrencies range between US$1 billion to US$10 billion in market cap. These cryptocurrencies are generally considered less risky than small-cap assets, but still offer potential for growth and high reward. Medium-cap cryptocurrency examples include <a href="https://coinstash.com.au/buy/AVAX" rel="noopener noreferrer" target="_blank">AVAX</a>, <a href="https://coinstash.com.au/buy/LINK" rel="noopener noreferrer" target="_blank">LINK</a> and <a href="https://coinstash.com.au/buy/XLM" rel="noopener noreferrer" target="_blank">XLM</a>.&nbsp;<h3>Large-cap</h3>Assets with market caps greater than US$10 billion are considered large-cap cryptocurrencies. They are generally regarded as lower-risk investments since they have been well established in the market. Large-cap cryptocurrencies include some of the most well-known cryptocurrencies like <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin</a>, <a href="https://coinstash.com.au/buy/ETH" rel="noopener noreferrer" target="_blank">Ethereum</a> and <a href="https://coinstash.com.au/buy/XRP" rel="noopener noreferrer" target="_blank">XRP</a>.&nbsp;<h2>Investment Considerations</h2>While market cap is a valuable metric, it shouldn’t be used in isolation when evaluating the potential of a cryptocurrency. There are many factors that need to be taken into consideration when doing your research to make a more informed investment decision. Some of these include: -Fully diluted value-Trading volume and liquidity-Utility/use-case of a project-Community and team behind it-The white paper and future road map<h2>How to invest in Crypto with Coinstash</h2>Want to start crypto investing but not sure how? The easiest way to start your crypto investment journey is with an online exchange like Coinstash. With low fees, low spreads and a feature-packed app, Coinstash makes it simple and safe to buy, sell and hold crypto in Australia. Not yet a client? <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a>

Crypto Market Cap Explained

Crypto Basics

Welcome to the 36th edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/3TSjzFF9ZD1LRmH3CD2WHq?si=jj1W58SaQrqzHV7hRQgalg" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>US Legislators Push SEC for Bitcoin Options Trading Approval</h3>US lawmakers are pressing the SEC to allow Bitcoin options trading, aiming to end discrimination against cryptocurrency funds.&nbsp;Options grant buyers the right to buy or sell assets like Bitcoin at a fixed price by a set date. Flood and Nickel stress SEC approval’s importance for investor protection.&nbsp;The SEC is currently reviewing the impact of Bitcoin options on market stability and surveillance. Meanwhile, the SEC is delaying decisions on applications from major exchanges.&nbsp;Nasdaq, Cboe, and NYSE are seeking approval for Bitcoin options trading. The SEC invites stakeholders to provide feedback by May 15th and rebuttals by May 29th.Read more here:&nbsp;<a href="https://imperialwealth.com/news/us-legislators-push-sec-for-bitcoin-options-trading-approval" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/us-legislators-push-sec-for-bitcoin-options-trading-approval</a><h3>Grayscale’s GBTC Bitcoin Exchange-Traded Fund Bounces Back with First Positive Inflows Since Launch</h3>Grayscale Investments marks a milestone with its first day of positive net inflows for the Grayscale Bitcoin Trust ETF, following four months of consecutive outflows since its transition to a spot Bitcoin ETF.&nbsp;On May 3, GBTC recorded $63 million in inflows, contrasting with $17.5 billion in outflows since the launch of spot Bitcoin ETFs. Franklin Templeton’s Bitcoin ETF saw record inflows, while others also experienced notable increases.&nbsp;The high fees of GBTC, at 1.5%, compared to alternatives, contributed to the outflows, along with selling pressure from bankrupt crypto firms.&nbsp;Investors express varied opinions, anticipating potential shifts in BTC’s trajectory. Exciting developments lie ahead.Read more here:&nbsp;<a href="https://imperialwealth.com/news/grayscales-gbtc-bitcoin-exchange-traded-fund-bounces-back-with-first-positive-inflows-since-launch" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/grayscales-gbtc-bitcoin-exchange-traded-fund-bounces-back-with-first-positive-inflows-since-launch</a><h3>Former Binance CEO Changpeng Zhao Receives Four-Month Prison Sentence</h3>Changpeng Zhao, former CEO of Binance, has been sentenced to four months in prison for violating anti-money laundering regulations.&nbsp;Prior to sentencing, Zhao expressed remorse for his actions and emphasized his efforts to improve compliance at Binance during his tenure.&nbsp;US prosecutors depicted Zhao as negligent, facilitating illegal transactions worth over 100,000. Despite appeals for leniency, prosecutors sought a 36-month prison term, double the federal maximum.&nbsp;Zhao’s supporters highlighted his altruistic endeavors and portrayed him as a committed family man.&nbsp;The case underscores the importance of regulatory compliance in the cryptocurrency industry and the consequences of non-compliance.Read more here:&nbsp;<a href="https://imperialwealth.com/news/former-binance-ceo-changpeng-zhao-receives-four-month-prison-sentence" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/former-binance-ceo-changpeng-zhao-receives-four-month-prison-sentence</a><h3>MicroStrategy Set to Introduce Bitcoin-Backed Decentralised ID Solution</h3>MicroStrategy, a major holder of Bitcoin, plans to launch a decentralised identity solution, MicroStrategy Orange, on the Bitcoin network.&nbsp;This initiative, presented by executive chairman Michael Saylor, aims to provide trustless and secure identities using only the Bitcoin blockchain.&nbsp;The system, comprising Orange Service, SDK, and Applications, enables users to issue and manage decentralized identifiers (DIDs).&nbsp;An example app, “Orange For Outlook,” enhances email security. Despite reporting a $53.1 million net loss for Q1, traditional accounting methods overlook the 65% increase in MicroStrategy’s Bitcoin value, valued at $15.2 billion.&nbsp;The company aspires to expand its applications across various sectors.Read more here:&nbsp;<a href="https://imperialwealth.com/news/microstrategy-set-to-introduce-bitcoin-backed-decentralised-id-solution" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/microstrategy-set-to-introduce-bitcoin-backed-decentralised-id-solution</a><h3>Block, Led by Jack Dorsey, to Allocate 10% of Bitcoin Earnings for Monthly BTC Purchases</h3>Jack Dorsey’s company, Block, will invest 10% of its Bitcoin product gross profit monthly. They’ve held Bitcoin since Q4 2020 and Q1 2021, with 8,038 BTC worth $573 million as of March 31.&nbsp;Q1 2024 saw Block’s Bitcoin gross profit soar by nearly 60% to $80.1 million, while Bitcoin revenue surged 26% to $2.73 billion.&nbsp;Dorsey highlights Bitcoin’s importance for global financial empowerment but notes only a small fraction of resources are allocated to Bitcoin projects.&nbsp;Despite this, Block launched Bitkey Bitcoin wallet and plans a Bitcoin mining system.&nbsp;Dorsey believes the internet will adopt a native currency eventually.Read more here:&nbsp;<a href="https://imperialwealth.com/news/block-led-by-jack-dorsey-to-allocate-10-of-bitcoin-earnings-for-monthly-btc-purchases" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/block-led-by-jack-dorsey-to-allocate-10-of-bitcoin-earnings-for-monthly-btc-purchases</a>Bitcoin Hits 1 Billion TransactionsThe Bitcoin network achieves a significant milestone, processing its billionth transaction after 15 years.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/06115734/6e4a6c53-e528-4b47-9ac8-7524293e92a6.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/06115734/6e4a6c53-e528-4b47-9ac8-7524293e92a6.jpg"></a>Transaction number 1,000,000,000 was recorded in block 842,241 on May 5, 15 years and four months after Bitcoin’s launch.&nbsp;Daily average transactions stand at 178,475 over 5,603 days. However, Lightning Network transactions are not included, estimated at 6.6 million in August 2023, suggesting hundreds of millions since 2018.&nbsp;Bitcoin’s daily transactions peaked at 926,000 during its fourth halving in April.&nbsp;The Runes protocol launch drove demand, yet daily transactions fell to 660,260 on May 4.&nbsp;Ethereum has processed over 2 billion transactions since July 2015.&nbsp;Bitcoin’s current price exceeds $64,000.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitcoin-hits-1-billion-transactions" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitcoin-hits-1-billion-transactions</a><h3>MoonPay broadens cryptocurrency choices through PayPal integration</h3>MoonPay expands its cryptocurrency options by integrating PayPal transactions, enabling US users to buy and sell Bitcoin and over 110 other cryptocurrencies via MoonPay.&nbsp;CEO Ivan Soto-Wright highlights the partnership’s significance, emphasizing its superiority over platforms limited to Ether or PayPal USD. The integration aims to improve conversion rates, leveraging PayPal’s broader acceptance compared to traditional banks.&nbsp;Established in 2019, MoonPay facilitates fiat-to-crypto transactions through various payment methods.&nbsp;Supported by Tiger Global, MoonPay collaborates with industry giants like Mastercard and BinanceUS.&nbsp;The PayPal integration initially targets MoonPay’s direct-to-consumer products, with plans for wider adoption among partners and expansion into UK and EU markets.Read more here:&nbsp;<a href="https://imperialwealth.com/news/moonpay-broadens-cryptocurrency-choices-through-paypal-integration" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/moonpay-broadens-cryptocurrency-choices-through-paypal-integration</a><h3>Vodafone Explore Integration of Cryptocurrency Wallets With Sim Cards</h3>Vodafone, a UK-based telecom provider, plans to integrate blockchain into smartphones via SIM cards with cryptocurrency wallets.&nbsp;This aligns with Vodafone Idea’s financial strategy, involving significant debt and stakeholding. David Palmer, Vodafone’s Blockchain Lead, anticipates over 20 billion phones by 2030, with 8 billion being smartphones. He predicts 5.6 billion crypto wallets by then.&nbsp;Meanwhile, Vodafone pursues partnerships like the 10-year Microsoft alliance for AI services, highlighted by CEO Satya Nadella.&nbsp;This trend isn’t new; in 2019, VaultTel aimed to merge mobile tech with blockchain via physical wallets.&nbsp;Read more here:<a href="https://t.co/NsYYtm2cFF" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/vodafone-explore-integration-of-cryptocurrency-wallets-with-sim-cards…</a><h3>Cryptocurrency Venture Capital Funding Reaches $1 Billion for Second Consecutive Month</h3>Cryptocurrency venture capital funding surpassed $1 billion for the second consecutive month in April, totalling $1.02 billion across 161 investment rounds, slightly down from March’s $1.09 billion.&nbsp;Notable raises included BlackRock’s $47 million investment in Securitize and Monad’s $225 million backed by Paradigm and Coinbase Ventures.&nbsp;Blockchain infrastructure startups received the most funding in 2024 at $1.7 billion, while decentralised finance protocols secured $626 million.&nbsp;Despite a pullback, the industry saw over $3.67 billion invested across 604 rounds, inching closer to 2023’s $9.3 billion. Pantera Capital and Paradigm aim to raise $1 billion and $850 million respectively.Read more here:<a href="https://t.co/DpEBDJzg0z" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/cryptocurrency-venture-capital-funding-reaches-1-billion-for-second-consecutive-month…</a><h2>Technical Analysis</h2>So much has happened this week!To summarise:<ul><li>Bitcoin was at $63.2k after putting in a triple bottom</li><li>To round out the month of April, and all its bearish fundamentals (war fears, TGA, TPs, outflows of ETFs, blah blah), we had one last dip into the $57-$59k liquidity zone that sat under range lows</li><li>We dipped as low as $56.3k, spending about 24 hours consolidating in between mainly $57k and $59k, before reclaiming prior range lows and sending it back into our range</li><li>Since, we have reclaimed $61k and bullish price action has ensued, with BTC recently reaching as high as mid $65k’s, before filling a CME gap that was produced via weekend price action, and now we trade just south of $64k</li></ul>In last weeks chronicle I stated:“….There are two serious areas of liquidity on either side of this range now:To the downside, you can see our triple bottom formed around $60k, with our utmost range low yet to be tested/grabbed. I am not ruling out if we see a few more bearish days/weeks that this area can’t be visited. This would hit a HUGE liquidity zone around $57,000-$59,000/USD which would mark a new range low, take out all liquidity to the long side, and could present a very bullish reversal. I would be buying here and dollar-cost-averaging (DCAing) if so. I would also trigger some short term trades/leverage plays with strict invalidation (stop losses) below this level…”This is exactly what has happened since we last spoke.We have taken out range lows, grabbed all of that liquidity, and had a very bullish reversal.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07151253/BTCUSD.P_2024-05-07_15-12-42_04fe4.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07151253/BTCUSD.P_2024-05-07_15-12-42_04fe4.png"></a>This was the exact same chart shown in last weeks Chronicle.I am hoping for bullish continuation into next week.My sights are on reclaiming $67k first, then all-time-highs from there.It’s important to note we are currently playing out the Fractal I have provided in the past.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150827/BTCUSD.P_2024-05-07_15-08-06_681b3.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150827/BTCUSD.P_2024-05-07_15-08-06_681b3.png"></a>Even more important we hit the exact level of interest I have been sending out for 2-3 months.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150729/BTCUSD.P_2024-05-07_15-07-20_f9b21.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150729/BTCUSD.P_2024-05-07_15-07-20_f9b21.png"></a>Any further major levels hit below, I trade!Any dips, I will eat!The trading academy got some buys out, short term trades, and I want to quickly run back over what that service now entails:<ul><li>SHORTER TERM TRADES (NO LEV)</li><li>SHORT TERM LONGS (LEV)</li><li>SHORT/LONG TERM SHORTS (HEDGING)</li><li>VIDEO CONTENT/LIVESTREAMING</li><li>RESEARCH REPORTS</li></ul>These are huge new additional features that have been added to our premier Cryptocurrency service.If this interests you,&nbsp;<a href="https://imperialwealth.com/consultation/crypto" rel="noopener noreferrer" target="_blank">feel free to book a free online consultation here!</a>Or shoot Taylor or I a message on Discord!<h2>Cryptocurrency Mining</h2>Btc has seen a drop back in hashrate which was expected, the average now sits at 614eh but the live rate is as low as we have seen since pre March at 518eh.&nbsp;This is the drop we were waiting for. Difficulty is set to drop by 5%, 2 days out from an adjustment which is welcome relief.&nbsp;Block fees are still varying, we saw a brief run up to 0.8btc per block additional which was over the weekend, now has dropped back to 0.3-0.4Btc.&nbsp;Around the networks:Doge and LTC has seen some significant drops in difficulty, ranging from 10-18% in the past 7 days with a Doge 8% jump in price which gives increased profitability.&nbsp;Kaspa remains consistent with a 4% jump this week in difficulty.&nbsp;CKB was the big mover with a 37% drop in difficulty.&nbsp;Dash has seen a 20% jump in difficulty due to more D9s becoming available.

Crypto Chronicle - 07/05/24

Welcome to the 32nd edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/1vGtZBZipyFFoXmfZzjDdd?si=hBo9YcFXRHKoyRlkzQMmYw" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>March Sees Spot Bitcoin ETF Trading Volume Surge to $111 Billion</h3>In March, spot Bitcoin exchange-traded funds (ETFs) witnessed a remarkable surge in trading volume, reaching $111 billion, nearly tripling the volume from February, with Grayscale and BlackRock ETFs leading the market.&nbsp;BlackRock’s Bitcoin ETF, IBIT, remained dominant in trading volume, while Grayscale’s GBTC and Fidelity’s FBTC closely followed.&nbsp;Bloomberg ETF analyst Eric Balchunas highlighted IBIT’s increasing dominance over GBTC in market share. However, despite profitable hits, IBIT’s lead in volume solidified its position as the “GLD of Bitcoin.”&nbsp;On April 1, Farside Investors reported cumulative net outflows of $86 million for spot Bitcoin ETFs, with IBIT experiencing inflows of $165.9 million, overshadowed by Grayscale’s $302.6 million outflows. Additionally, Fidelity’s FBTC saw significant inflows of $44 million on the same day.&nbsp;Despite these trends, Grayscale’s GBTC has faced substantial outflows, with assets under management declining by 46% to $22 billion according to Coinglass data.Read more here:&nbsp;<a href="https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion</a><h3>DOJ Transfers $2 Billion in Seized Silk Road Bitcoin to New Wallet</h3>Around $2 billion worth of Bitcoin, seized by the US authorities from the Silk Road marketplace, was recently moved to a new address.&nbsp;Associated with the US Justice Department, the wallet performed a transaction of 0.001 BTC to a Coinbase Prime address before transferring 30,174 BTC to the new location.&nbsp;These coins were seized from James Zhong, convicted for his involvement in Silk Road’s illicit activities. In March 2023, US authorities sold approximately 9,861 BTC for $215 million, leaving about 40,000 BTC.&nbsp;This transfer coincided with a 7% drop in Bitcoin’s value.&nbsp;The Silk Road platform, notorious for illegal trade, led to the imprisonment of its founder, Ross Ulbricht, in 2013.&nbsp;The strategy for selling the remaining BTC remains undisclosed.Read more here:&nbsp;<a href="https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet</a><h3>Morgan Stanley Aims to Outpace UBS in the Race to Become the Premier Bitcoin ETF Provide</h3>The emergence of spot Bitcoin exchange-traded funds (ETFs) in the US has sparked competition among investment banks, with Morgan Stanley aiming to lead ahead of UBS.&nbsp;Crypto enthusiast Andrew reported that Morgan Stanley may announce Bitcoin ETF approval soon.&nbsp;Eric Balchunas from Bloomberg noted neither Morgan Stanley nor UBS has integrated Bitcoin ETFs yet.&nbsp;Both banks seem to wait for the other to act first. Andrew mentioned UBS plans to introduce Bitcoin ETFs between April 8 and April 12.&nbsp;This speculation follows reports of Morgan Stanley’s impending approval of Bitcoin ETFs. Despite hurdles, traditional finance (TradFi) appears to embrace Bitcoin.Read more here:&nbsp;<a href="https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide</a><h3>Ripple Set to Introduce Stablecoin Tied to US Dollar, Targeting Competition Against USDT and USDC</h3>Ripple plans to introduce a USD-backed stablecoin to compete with Circle and Tether, aiming to tap into the growing market projected to exceed $2 trillion by 2028.&nbsp;Chief Technology Officer David Schwartz disclosed the stablecoin’s issuance on the XRP Ledger and Ethereum blockchain, emphasising transparency in asset backing and regulatory compliance, echoing USDC’s approach.&nbsp;Schwartz highlighted Ripple’s intention to prioritise market share over risky manoeuvres.&nbsp;Auditing of reserve assets will be performed monthly. Leveraging its credibility, Ripple aims to establish a significant presence in the stablecoin sector.&nbsp;The stablecoin complements Ripple’s existing offerings, enhancing liquidity and capitalising on market opportunities.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc</a><h3>CEO of Australian Monochrome Anticipates the Launch of an Australian Spot Bitcoin ETF Within the Next Two Months</h3>Monochrome, an Australian asset manager, plans to launch its primary spot Bitcoin ETF on Cboe Australia after filing in July 2023.&nbsp;If approved, it would be Australia’s first ETF to directly hold Bitcoin. While two existing ETPs on Cboe Australia offer exposure to spot crypto assets, they don’t hold Bitcoin.&nbsp;Monochrome gained ASIC approval and expects Cboe to approve its application by June. Initially slated for ASX, Monochrome CEO Jeff Yew believes Cboe aligns better with their goals.&nbsp;The move follows the U.S. SEC’s approval of 11 spot BTC ETFs, sparking global interest in similar products.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months</a><h3>BlackRock Enhances Bitcoin ETF with Addition of Five Wall Street Firms</h3>BlackRock updated its Bitcoin ETF prospectus on April 5, adding five major Wall Street firms as authorized participants.&nbsp;These include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities.&nbsp;The Securities and Exchange Commission’s stance on cash creation and redemption aims to curb market manipulation risks. This mechanism, adopted by BlackRock and others, allows ETF shares to be created or redeemed solely through cash transactions, deviating from the traditional in-kind model.&nbsp;The move seeks to prevent intraday price manipulation and aligns with recommendations from industry leaders like Hashdex.&nbsp;Despite a surge in March trading volume to $111 billion, some reports suggest cooling demand for Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust remains dominant in both trading volume and assets under management, followed by Grayscale and Fidelity’s funds. As of April 1, BlackRock’s IBIT assets totalled $17.6 billion.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms</a><h3>SEC Case Finds Terraform Labs and Do Kwon Guilty of Fraud</h3>A jury found Terraform Labs and co-founder Do Kwon liable for defrauding investors in a civil case with the SEC.&nbsp;The verdict, announced by SEC Enforcement Director Gurbir Grewal on April 5, held them accountable for deceiving investors about the stability of Terra USD and the platform’s payment application.&nbsp;The SEC trial began on March 25, with Kwon absent due to his stay in Montenegro. The jury also found Terraform guilty on six charges, describing its conduct as “reckless.”&nbsp;The outcome may impact crypto firms.&nbsp;Meanwhile, Kwon’s extradition remains uncertain following a decision by Montenegro’s Supreme Court, facing criminal charges in both the U.S. and South Korea.Read more here:&nbsp;<a href="https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud</a><h3>In March, Binance’s Trading Volumes Peak for the Year, Reaching $1.12 Trillion</h3>Binance’s spot trading volume surged to its highest level since May 2021, hitting $1.12 trillion in March, with a 121% rise reported by CCData.&nbsp;The exchange’s combined market share reached 44.1%, up 1.04% from the previous month. CCData highlighted Binance’s recovery post a $4.3 billion settlement with the US DOJ, noting an 89.7% spike in derivatives trading to $2.91 trillion.&nbsp;Binance’s dominance in spot markets increased by 2.3%, reaching 38.0% of spot trading volumes on centralized exchanges (CEXs).&nbsp;The overall trading volume on CEXs surged by 92.9% to $9.12 trillion, with cryptocurrency derivatives reaching $6.18 trillion.&nbsp;This surge coincided with Bitcoin’s rally towards new all-time highs, reflecting growing investor interest despite regulatory challenges and setbacks faced by exchanges like FTX.Read more here:&nbsp;<a href="https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion</a><h2>Technical Analysis</h2>Last week when the Chronicle was released saw a dump from $69k to $66k with important points stressed.The main being – that $65k was our most integral line of support until far lower (&lt; $59k).“In any case, the first level of support that interests me is still the Golden Pocket at $65,000/USD.Under that comes $59k and then $48-$50k as shown in prior weeks.”It is that exact structural level we found support/demand and have bounced from just briefly below $65k, and have pumped to as high as almost $73k overnight.A reminder of this chart here:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png"></a>And now the updated.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png"></a>Picture perfect, huh? Pays to do the analysis.Also pays to have conviction in the TA, whilst understanding that most of the market become scared at support, expect lower, and usually the opposite happens.As a result, were able to grab two buys in the market last week for the&nbsp;<a href="https://imperialwealth.com/crypto/trading/trading-academy" rel="noopener noreferrer" target="_blank">Trading Academy.&nbsp;</a>We now seek higher targets for now. A break below $65k would present bearishness, but for now, I have my eyes set on ATHs, $75-$77k and $82k.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png"></a>Let’s wait and see! For now we are rejecting under the daily candle highs.I would like to see $69.3k hold for now, but I am expecting higher targets to come, including Fresh All Time Highs.That $69.3k support is the range golden pocket – and obviously represents our prior 2021 ATH.If this is a bullish move, if we retrace to that level, I want it to hold – $66-$67k should be support under that if its lost.Irrespective, as a result of recent bullish movements… Our Day Traders continue to kill it.Here is an excerpt from our&nbsp;<a href="https://imperialwealth.com/crypto/trading-education/crypto-trading-course" rel="noopener noreferrer" target="_blank">Day Trading Course</a>&nbsp;Discord:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png"></a>That is the conviction you require against the rest of the market to nail it.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png"></a>And our students nailed it!<h2>Cryptocurrency Mining</h2>Bitcoin continues to improve its hashrate sitting at 646EH with block rewards sitting at around 6.5 on average leading into the halving.We are seeing a stabilisation of metrics which is common leading into the halving as people are sitting firm and deployment delays across the industry due to machine manufacturer delays.We did a small drop in network difficulty which has been welcome.Around the grounds:Doge continues to see a drop in hashrate which saw a 14% drop.Along with LTC doing a smaller 6% drop seeing the Scrypt algo getting some nice rewards. This has seen L7s shoot to above $10,000 for new machines.Kaspa continues to rise in difficulty and hashrate due to the new KS5 and newer machines from Iceriver etc. Seeing a 5% jump in hashrate.Dash remains stable with a smaller drop of 4% in network hashrate.CKB is the standout with a 75% price jump with minimal drop in hash or rise.That’s it for this weeks edition, stay tuned for next weeks!Thanks!

Crypto Chronicle - 10/04/24

Research

<h2>A Simple Way to Invest in Australia’s Top Crypto Projects</h2>Brisbane, Australia – September 5, 2023 – Coinstash, one of Australia's most trusted cryptocurrency exchanges, is thrilled to unveil the Aussie Bundle, the latest innovation in its Bundle feature lineup. This first of its kind investment package offers users the opportunity to easily invest in top-tier crypto projects that are proudly Australian. The Aussie Bundle is a collaborative effort between Coinstash and Investified, a leading crypto education platform in Australia.<h2>About the Aussie Bundle</h2>The Aussie Bundle was designed to offer Australian investors a simple way to invest in and support the best of the Australian crypto industry. It comprises a curated mix of coins that have been developed by Australian teams and projects. With heavyweights from the Gaming realm, Decentralised Finance (DeFi), and the burgeoning Metaverse included, the Aussie Bundle serves as a one-stop solution for investors seeking diversified yet focused exposure to Australia's most promising crypto ventures.<h2>The Best of Australia</h2>Fueled by a joint ambition to amplify Australia's significant contributions to the global crypto ecosystem, Coinstash and Investified collaborated to bring the Aussie Bundle to life. "Creating this bundle is a reflection of our shared belief in Australia's burgeoning crypto sector and its global impact. Together, we wanted to provide investors from our communities and beyond with a simple one-click solution to get exposure to the very best of the Australian crypto industry", expressed Grant Collins, CMO of Coinstash.<h2>How the Aussie Bundle Works</h2>Investing in the Aussie Bundle is simple. Available exclusively on Coinstash’s user-friendly app and platform, users can invest in the Aussie Bundle with AUD in one simple transaction. Once purchased, each asset within the Bundle is equally allocated to your portfolio, saving you the time and energy of buying each coin individually. One click, multiple investments - it's that simple.&nbsp;<h3>About Coinstash&nbsp;</h3>Coinstash is one of the most well established and trusted cryptocurrency exchange platforms in Australia, with over 25,000 registered clients. Founded in 2017, Coinstash is proudly Australian owned and operated, and AUSTRAC registered.&nbsp; With support for the most assets in Australia, Coinstash makes it simple and safe to buy, sell, earn, and trade over 1,000+ cryptocurrencies. With competitive fees, low spreads, and a feature-packed app, Coinstash is the go-to platform for all your crypto needs in Australia. For more information, please visit <a href="https://www.coinstash.com.au/" rel="noopener noreferrer" target="_blank">https://www.coinstash.com.au</a>.&nbsp; <h3>About Investified</h3>Investified is a leading player in the Australian cryptocurrency and stock education space. Co-founder of Investified, Zac Povolny, shared his delight about co-creating the Aussie Bundle, saying “We’re excited to create a bundle that represents the best Australia has to offer in the crypto arena. Despite often being overlooked, the Australian crypto sector is a significant global force, home to several world-renowned projects, and we're delighted to work with Coinstash to give investors an easy way of getting exposure to it." For additional information, please visit <a href="https://investified.com.au/" rel="noopener noreferrer" target="_blank">investified.com.au</a>. <h3>Media Contact:</h3>Chris GrahamGrowth Marketing Manager, Coinstashchris.g@coinstash.com.au

Coinstash Launches the ‘Aussie Bundle’ in Collaboration with Investified

We’re excited to share our new collection of backgrounds and wallpapers, exclusively crafted for the Coinstash Community.This collection features both desktop and mobile backgrounds, inspired by the colours of our newly updated brand.Choose your top picks from the collection below.Give them a try and snap a photo of your fresh new background in action. Tag us and include #CoinstashColours in your post. We're eager to see how you display your colors!<h2>Wallpaper Download Links </h2>

Coinstash Logo Wallpaper Purple Background with Laptop and Mobile View

Coinstash Purple Wallpaper: <a href="https://drive.google.com/file/d/1MMBTqPcuDOhqY63bDibW9N-mGjYqVx6_/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/12r8ZoEO98q6B4xkNsWHBomRlsjttNI_r/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper White Background with Laptop and Mobile View

Coinstash White Wallpaper: <a href="https://drive.google.com/file/d/1vVnIhJxyP4hC-W6J9LV9CCrZEdtdKfNV/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1DxPDtPtgm7djMFqxlITwb5whSomXFBRB/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Grey Background with Laptop and Mobile View

Coinstash Grey Wallpaper: <a href="https://drive.google.com/file/d/16oM6Fy9SmsulOSxKpmKBiv-c-40lF7T-/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/11pad4aB8Efx_j2ef3jdYgBXIHXa6B2TS/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Black Background with Laptop and Mobile View

Coinstash Black Wallpaper: <a href="https://drive.google.com/file/d/1Tw7piANPqX0g5NTebK2Cp8-vAfUiM4sE/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1GaJdO5APUjoobY2nCz7Bmuz3dK1azSha/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

New Branded Backgrounds for the Coinstash Community

Today we are excited to reveal the official brand refresh of Coinstash. We've upgraded the Coinstash you've come to know and trust, with a revitalised look, an enhanced web app, and an even more intuitive mobile experience, all designed to reflect our evolving vision and mission.&nbsp;<h2>Why Refresh the Coinstash Brand?&nbsp;</h2>The Coinstash journey began in 2017, when the cryptocurrency industry was in its infancy. Bitcoin was still emerging, Ethereum was taking its first steps, and many other blockchain concepts were just budding concepts on white papers. However, the revolutionary potential of blockchain technology was evident.&nbsp; Inspired by this potential, we saw an opportunity to provide the Australian market with a user-friendly platform to easily access and exchange their cryptocurrencies. Our mission was clear - to bridge the gap between traditional finance and the burgeoning world of cryptocurrencies. Fast forward to today, and Coinstash has made significant progress. Serving over 25,000 users, raising two successful crowd-sourced funding rounds, acquiring an AFS licensee company, and gaining numerous accolades, we've become one of Australia's foremost and most trusted crypto exchanges. But we aren't resting on our laurels. The crypto landscape has grown and changed immensely in a few short years. We've witnessed major crypto market swings, Bitcoin's (BTC) historic peak at US$69,000, the rise of Stablecoins, Decentralised Finance (DeFi), Non-Fungible Tokens (NFTs) and the Web3 space.&nbsp; As the industry evolves and matures, we embrace the need to adapt and grow alongside it. We are witnessing an exciting shift in the crypto space, with more seasoned traders and investors entering the market from traditional finance, demanding a higher degree of proficiency and trustworthiness from their chosen crypto trading platforms. Built by investors, for investors, Coinstash is more than just a crypto exchange - we are a community with a shared belief in the power of crypto to change the world. Together, we strive to empower investors to unlock the potential value of crypto to build a new, better financial future for all. To meet these shifting market dynamics, we've embarked on a strategic brand rejuvenation. This includes modernising our brand assets to resonate with our forward-looking vision and better reflect the aspirations and needs of our increasingly sophisticated clientele. This brand evolution is our commitment to meet and exceed the demands of the rapidly changing crypto industry, now and in the future.<h2>What’s Next for Coinstash?</h2>The launch of our refreshed brand is an important milestone, but it's just the beginning of an ambitious journey. This revamp is the first of many strategic steps in our product roadmap, charting the course towards delivering the best crypto investing experience possible. Coinstash will continue to launch the next generation of crypto trading and investing products. In the coming months, you can expect a host of new innovative offerings, including Coinstash Private, Automations, Derivatives and more, designed to take your crypto investing to the next-level.&nbsp; So, welcome to the new era of Coinstash. We are excited for you to join us on our journey. Together, let's build the future of crypto. The Coinstash Team

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Crypto Chronicle - 06/06/24

Security

Coinstash Launches the ‘Aussie Bundle’ in Collaboration with Investified

New Branded Backgrounds for the Coinstash Community

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Crypto Basics

Crypto Market Cycles Explained

Crypto Fear and Greed Index Explained

Common Bitcoin and Crypto Myths Debunked

Crypto Market Cap Explained

Invest in Crypto with Confidence

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