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Bitcoin Approaching $45k, Litecoin and BorroeFinance Expected to Rally

Bitcoin (BTC) has been trending higher for seven consecutive weeks, approaching the $45,000 mark. This upward trend has attracted both novice and experienced investors, driven by high optimism and ongoing discussions about ETFs. Traders expect altcoins like Litecoin (LTC) and BorroeFinance (ROE) to extend their gains alongside Bitcoin’s rise.

Litecoin, one of the major altcoins, has been in focus recently. BitPay, a crypto payment processor, has integrated Litecoin, allowing users to pay for Microsoft services using LTC. Additionally, Mecum Auctions has started accepting Litecoin as well. These developments have led to increased demand for LTC, pushing its price up to $73.60. The increasing number of transactions and active unique addresses also indicate a rising demand for Litecoin.

BorroeFinance, on the other hand, is an emerging altcoin that leverages artificial intelligence to connect investors with businesses or content creators seeking funding. The platform uses AI to assess risks and match investors with ventures aligned to their interests. BorroeFinance recently launched on the Polygon network, offering a secure and audited marketplace for earning, trading, and funding. The native token of the platform, ROE, is deflationary and powers the functionalities of the platform. In the ongoing presale, over 99% of the allocated ROE tokens have been sold. However, the long-term utility and adoption of BorroeFinance and its ROE token are yet to be tested.

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The Headache of 'Crypto Colonialism'

Blockchains can’t rebuild roads or end sectarian violence, famine or natural disasters.

In the spirit of right-wing economists like Milton Friedman, blockchain innovators seek out populations suffering debt crises, war, climate disasters, etc. to impose and incubate new crypto-economic ideas. For the host government, struggling to deliver social services and infrastructure projects while suffering from chronic under-investment, its lack of tax revenue and regulations is the real headache. Cryptocurrencies and blockchain services often make those headaches worse, not better.

Puerto Rico serves as an example. After hurricanes Irma and María devastated the island, cryptocurrency investors set sail to build a new crypto-libertarian Jerusalem, otherwise known as “Puertopia.” The island soon became a highly contested sandbox for cryptocurrencies. For Jillian Crandall, a researcher at Rensselaer Polytechnic Institute, these crypto-colonialist projects might be called “disaster capitalism.”

Yet state-adverse tech companies typically tout the advantages of evading taxes via cryptocurrencies as a means of encouraging foreign investment and an entrepreneurial spirit among the locals.

Proponents of the Ethiopia-Cardano deal suggest the partnership will work wonders for corruption and transparency. Our research suggests a more dystopic outlook.

With the use of smart contracts, centralized surveillance capabilities and automated conditions can be encoded into payment platforms. Individual citizens, and even whole populations, can lose their economic sovereignty, while tech companies and central governments track and manage how citizens’ funds can be spent.

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Decentralization Concerns and Market Dynamics: A Deep Dive into Ethereum's Ecosystem and Price Trends

Many individuals within the cryptocurrency community prefer liquid staking platforms like Lido over centralized ones. Lidos approach has been to involve a number of node operators to prevent any single group from having excessive control over staked ETH, which helps address concerns about centralization. However the risk of centralization still remains. If a dominant group of liquidity providers or node operators were to emerge it could create a vulnerability. Even establish a monopoly that goes against the broader interests of the Ethereum community. Following the Merge and Shanghai updates Ethereum, the worlds most prominent cryptocurrency has experienced an increase in centralization. JPMorgan has expressed concerns about declining staking returns. Another important aspect mentioned in their report is rehypothecation. This

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Vitalik Buterin Explores Innovative Approaches to Enhance the Ethereum Protocol:

In a recent post, Vitalik Buterin, the co-founder of Ethereum, discussed the current conversation about protocol improvements, concentrating on Layer 1 (L1) and Layer 2 (L2) alternatives. The first plan for Ethereum was based on simplicity, with a focus on a simple core protocol and building other protocols on top of it. Recently, though, the discussion has shifted to adding more features…

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Australia’s Treasury unveiled draft legislation concerning licensing and custody guidelines for cryptocurrency asset providers. Once this legislation is ratified, exchanges will be provided a 12-month window to adjust to the new framework, Coindesk

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Robert Kiyosaki Forecasts the Rise of Cryptocurrencies and Warns of Impending Economic Crisis

Robert Kiyosaki, best known for his book ‘Rich Dad Poor Dad,’ recently expressed optimism about the role of cryptocurrencies in the future of finance. The author anticipates that Bitcoin could surge to $120,000 in the coming year and cautions about an impending economic crisis, suggesting that digital currencies could serve as financial refuges. Kiyosaki took to social media platform X, formerly known as Twitter, ahead of the TOKEN2049 crypto conference scheduled for September 18-19, to share his bullish views on cryptocurrencies. He believes that traditional forms of money, particularly the U.S. dollar, are nearing obsolescence. He’s also confident in Bitcoin’s ability to recover from market slumps, attributing potential price increases to the upcoming halving event. Despite his claim that green energy initiatives negatively

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Looking At The Remarkable History of Dogecoin

In the vast and dynamic world of cryptocurrencies, Dogecoin has emerged as a standout, capturing the imagination of the crypto community and beyond. As we celebrate the one-year anniversary of Dogecoin’s meteoric rise, it’s worth delving into the fascinating history that brought this digital currency into the limelight.

Bitcoin Price Declines 8% but Bulls Active above $40,000

The price of Bitcoin experienced a sharp decline after reaching close to $45,000, dropping over 8%. However, there seems to be some bullish activity above the $40,000 level. Bitcoin is currently trading below $43,500 and the 100 hourly Simple Moving Average. A key bullish trend line with support near $43,500 was broken, indicating bearish signs.

Bitcoin had been in a bullish zone after surpassing the $40,000 resistance, steadily rising above $42,000 and $43,000. The price even reached above $44,000 but failed to test the $45,000 resistance. It then began a swift downward correction, falling below $44,000. Additionally, there was a break below the crucial bullish trend line near $43,500.

The BTC/USD pair dropped below the 50% Fib retracement level of the upward movement from its swing low of $39,398 to the high of $44,699. Bitcoin is currently trading below both $43,500 and the 100 hourly Simple Moving Average. However, the $40,000 support level and the 76.4% Fib retracement level are being defended by the bulls. The price is currently attempting a recovery but is facing resistance near $42,400.

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BitcoinPrice #BearishSigns #BullishMomentum #Cryptocurrency