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$2 trillion crypto market capitalization: The beginning or the end?

The 2021 cryptocurrency market bull run has led many coins towards a straight trajectory to the moon. The king of cryptocurrency – Bitcoin (BTC) – more than doubled in value while the queen, Ethereum (ETH), achieved a new all-time high. Other altcoins have been on a roll too, giving double-figure performances and establishing record highs day in and day out.

Bitcoin is now worth more than $1 trillion while the next five major cryptocurrencies’ market capitalization stands at almost half a trillion. The combined market capitalization has surpassed $2 trillion for the first time. This is a testament to the increasing interest and growing mass adoption of cryptocurrencies. While some people bet on cryptocurrencies because of the high-risk & high-reward features, other wholeheartedly believes cryptocurrencies are going to become the future standard of payments.

The institutions haven’t been lagging in accepting cryptocurrencies as well. After the hard crash of the 2018 bull run, institutions were some of the most vocal critics of cryptocurrencies but now institutionary giants like PayPal, Tesla, Morgan Stanley and others are leading the crypto adoption race.

However, there have also been an increase in the growing skepticism about cryptocurrencies. Bitcoin is fast becoming a safe haven asset like gold while it is not at all suitable for the role. The high-risk factor involved in the crypto market has led to governments warning their citizens like the Singapore Monetary Authority whereas the Indian regulators are debating a cryptocurrency ban.

Moreover, the environmental costs associated with cryptocurrency mining has also been gaining attention. Bitcoin consumes more energy on a single transaction than a British household in two months. Various other comparisons have been drawn to portray the dire situation we are currently in. But, is the growing skepticism in one side going to hinder the growing interest in cryptocurrencies or is it going to fall on deaf ears?

April 7, 2021
Bitcoin (BTC) to overtake gold soon?

Ever since the cryptocurrency craze has reached new levels, Bitcoin (BTC) – and other major cryptocurrencies – has exploded. Most cryptocurrencies are vying to reach for the moon – while some are closer than others. The king of cryptocurrency stands at $57k, teasing its all-time high level while the queen of the market – Ethereum – established a new all-time high at $2,135

Various cryptocurrency investors and fans have been vocal about the potential of Bitcoin replacing gold as the safe haven asset. The major investment bank, JP Morgan & Chase Co., had stated in the beginning of the bull run the fight between Gold and Bitcoin has already begun.

The coronavirus played a significant role in fueling the position of Bitcoin as a safe haven asset as the stock market throughout the world were in the grips of the bears while the cryptocurrency market was soaring high. The potential of the money that could have been made with investing stimulus checks in the crypto market made dollar signs shine in investors eyes.

A Twitter user by the name of Spencer Schiff has furthered the duel between Bitcoin and gold with some statistics. Per Schiff, Bitcoin has gone up by 100% in the first quarter to 2021 while gold has declined by 10%. This shows the rising interest in Bitcoin as a safe haven asset.

Can Bitcoin (BTC) break through the stronghold of Gold?

Through one lens, it seems plausible while not so much through another. Bitcoin and gold has no comparison through fundamentals. Whereas gold has intrinsic value, Bitcoin’s value is fickle. The high volatility and absence of any value may not allow the cryptocurrency to overthrow gold

April 5, 2021
Top 3 Altcoins to watch in 2021

You really want to know what’s happening in the crypto world and which digital coins suit you best to buy this year.

Back in 2017, when cryptocurrencies first surfaced on the bigger financial scale there were many speculations regarding their origin, security, and reliability. From an investor’s perspective, back then, things were much volatile and uncertain. But with passing time, things have changed in the crypto sphere.

We have seen more adoption of altcoins from renowned global companies, financial services platforms, and governments. Bitcoin (BTC) has become a global phenomenon in the financial world. The emergence of Decentralized Finance (DeFi) will change the picture of financial services that are used in today’s modern era.

In recent times, the financial services giants PayPal and Visa have started to allow their users to use altcoins for daily transactions. Moreover, CNBC has just learned that Goldman Sachs is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group. This will be another major breakthrough for cryptocurrencies. So, in the middle of high expectations and a strong potential future, let’s have a look at the top three altcoins to watch for in 2021.

Ethereum (ETH)

Ethereum (ETH) is a smart contract platform for creating decentralized apps (DApps). The blockchain program comes up with its programming language known as Solidity. Ethereum is the second largest crypto by market cap and has grown massively since the start of the new year.

Ethereum is the one who laid the foundation for DeFi and that’s the reason why a large portion of the DeFi ecosystem is based on Ethereum’s blockchain. According to analysts, after Bitcoin, Ethereum is the most interesting crypto in the space, especially the way it has popped up in recent times. So, Ethereum is definitely one of the best altcoins to look at in 2021.

Cardano (ADA)

Cardano (ADA) is a cryptocurrency network and open-source project that aims to run a public blockchain platform for smart contracts. It’s known for its innovative approach with its unique blockchain network.ADA is a proof-of-stake (PoS) blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods.

Cardano is also one of the top-rated cryptos in the market and it has been in the picture along with top assets like Bitcoin, Ethereum, and others. For investors, Cardano has sparked a strong image with the ongoing bullish trend of the market. ADA is a must watch altcoin this year.

Litecoin (LTC)

Litecoin (LTC) is among the top-rated altcoins in the market and certainly one of the top altcoins to watch for in 2021. Litecoin has turned to be a great investment option over the past years. The reason Litecoin has grown into such a big network is that it’s one of the first alternatives to Bitcoin.

Litecoin has a market cap of $12.9 billion and currently trades at the 9^th spot in the market. The digital has much upside at the moment and seems a healthy investment option in the market.

April 1, 2021
The Highly Anticipated Crypto Market Following the FinTech Payment networks Go live with digital currencies

PayPal and Visa allow their users to deal with their daily transactions in cryptocurrencies.

We have seen that the adoption of cryptocurrencies is rapidly growing. In recent times, financial payment services have begun to allow digital currencies to be used for daily use and to hold crypto assets.

Elon Musk, who has been one of the biggest crypto enthusiasts, recently announced that his EV firm will also accept Bitcoin as payment for Tesla cars. Now, PayPal and Visa, both the payment services giants have announced that they will support the use of crypto assets.

What’s Next?

We already knew that PayPal was in line to support cryptocurrencies in form of payment. Now, with the recent announcement, US users can do just that with its “Checkout with Crypto” feature.

As per Reuter, PayPal is set to move one step forward in opening crypto accounts for users. The US consumers will now be able to pay at millions of its online merchants globally. With this move, we can foresee the future of e-commerce built upon digital payments.

Users holding cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in PayPal digital wallets will be able to convert their holding into fiat currencies to make online purchases. The company believes that it will be serving almost 29 million merchants on its platform. For the first time, we will see digital assets used as smoothly as credit and debit cards online.

Moreover, Visa is also ready to roll the crypto plan soon. Visa will allow the use of digital coin, USD Coin, for transaction payment. This is another big acceptance of crypto in the mainstream payment world.

While telling Reuters, Visa Inc. mentioned that it has launched its pilot program with payment and crypto platform Crypto.com. The financial services corporation intends to offer more partners in the second half of this year.

The USD Coin (USDC) is a stable coin that is pegged again the US Dollar. Visa’s step toward crypto adoption is one of the most highly anticipated decisions of the present. We can see how finance firms are attracted towards cryptocurrency including BlackRock, Mastercard, and BNY Mellon. The companies have realized that cryptocurrencies are a great investment opportunity and more than that a better payment processing system.

Elon Musk’s is an inflection figure in the world business and investors keenly follow him, whether it’s the stock market or crypto market. Last week, Musk said that customers can buy its electric vehicles with bitcoin. This is a great push for cryptocurrencies and we will see more companies adopting crypto in the future.

This move from Musk is a strategic move for investment and from this Tesla can make double the amount of money with the sale of EVs. Because Tesla will not fix the price of Bitcoin against the price of the car in USD. It will be just like a free-floating exchange rate.

Bitcoin (BTC), the crypto deity is trading just over $59K and heading back towards a record-high of $61K. The future awaits much hyped and highly forecasted Bitcoin prices.

March 31, 2021
Color Star Technology Co., Ltd. (CSCW) stock rallied in pre-market: Why did it happen?

Shares of Color Star Technology Co., Ltd. (CSCW), a music education service provider and entertainment platform, continued to rise in Wednesday’s pre-market session after recording a gain of 5.45% at the previous closing. CSCW stock price was pushed 59.48 % in today’s pre-market session to reach $1.85 a share at the time of this writing. There is no particular activity by the Color Star today to explain this rally but it seems that rising Bitcoin price and NFTs speculations are the driving force behind this rise. Let’s see what is happening.

Tesla accepts Bitcoin as Payment Option

Recently the Worlds second richest person Elon Musk announced that Tesla will accept Bitcoin as the payment option after which the BTC shares jumped by 5%. The rise in BTC resulted in the gain of many stocks that are somehow associated with cryptocurrency and CSCW is one of them as if we Go back to the previous week, we find the announcement made by the CSCW stock that Color Star made cooperation agreement between Color China Entertainment Co., Ltd, a wholly-owned subsidiary of Color Star, and Doman (HK) Ltd according to which the former will get the blockchain support by the later for Color World APP, which is an interactive entertainment platform of CSCW

Recent Developments

On March 11, CSCW has made an agreement between its wholly-owned subsidiary Color China Entertainment and Meadow Films LA Inc. for the production and distribution of large-screen movies.CSCW stock also signed up for the long-term strategic partnership with Guangxi, China-based Yinmiao Culture Development Co., Ltd to work mutually in various areas including, piano competitions, art festivals, offline and online training, sales and production, and many other areas to play a major role in the entertainment industry.

Conclusion

Rising Bitcoin prices have driven the CSCW stock price today. Color star has been much in the news for the past couple of weeks due to its recent developments. Color Star management is deeply focused on expanding its business especially in tech fields like Artificial intelligence, augmented reality, and Mixed reality that also points to the designing of NTF based products in the future.

March 24, 2021
Best Cryptocurrencies to Watch in 2021

With the pandemic starting in 2020, cryptocurrency stocks have seen a new interest as the world has started to see a larger appeal in digital currency and Bitcoin has been at the forefront of everyone’s mind. With the start of the new year, cryptocurrency stocks have gained a lot more traction and reached past the $20,000 and $40,000 marks in a short amount of time. Earlier, an investment of $1.5 billion was made by Tesla into Bitcoin, which once again gave it the boost it needed with it breaking its $50,000 high mark. Some of the best cryptocurrency stocks expected to keep rising this year are:

Bitcoin (BTC)

It’s hard to talk about cryptocurrency without mentioning the cryptocurrency giant Bitcoin which has been dominating the market since the start of 2009. BTC suffered in 2018 but it proved itself strong to recover and surge higher than $40,000 in the start of this year with a market cap larger than $1 trillion. Bitcoin also has the edge with being the biggest known name in the world of cryptocurrency which makes it attractive to new buyers. Bitcoin has also been the inspiration for Bitcoin creators to introduce new features like Bitcoin Cash.

Stellar Lumens (XLM)

Like Bitcoin, Stellar (XLM) has also made a big comeback this year after its previous struggles and has come through with new and interesting projects such as its most recent $5 million investment in Wyre, a dominant blockchain payment provider which let Stellar access to new currency pairs. XLM has even been preferred as the blockchain for Ukraine’s central bank. With the way Stellar has been dealing with savings and compliance accounts such as Wyre, it has seen 260 per cent more growth of its users and this could lead to it becoming a new Pay Pal company.

Chainlink (LINK)

Chainlink is an Ethereum platform which works between two parties engaging in a blockchain network and records the transaction into data blacks. While a lot of other platforms working these transactions need to use real data to execute smart contracts, Chainlink has come up with the innovative solution of using oracles to revive the needed data for the network while ensuring that the data stays safe for the smart contracts. With the confidence the platform has been gaining, it is become a top choice for cryptocurrency and decentralized finance is also contributing to this.

March 8, 2021