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Why Matic And Ripple Investors Are Buying BudBlockz

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Matic and Ripple have been top 20 cryptocurrencies for a very long time. They are seen as good investments with relatively strong price performances compared to the rest of the market. Now, many of their investors are now buying into the new platform and ecosystem BudBlockz. 

The primary driver behind this shift is that recent volatility has stressed the importance of a balanced portfolio that should always consist of coins with different market caps and, ideally, be from different industries. This is why one reason explaining why Matic and Ripple Investors might be interested in BudBlockz, the new decentralized e-commerce marketplace for the cannabis industry. But there are several others.

Polygon (Matic) Investors Are Looking for Other Coins

Polygon is a decentralized Ethereum scaling platform focused on low transaction fees and high speed. Matic is its native token and is used for gas fees, just like ETH is used for Ethereum. This means that every dApp built on Polygon, and all of its users, need to buy Matic to use the platform. Consequently, the increased demand for the platform drives up the price of its token. This is what we have seen since Matic’s release in 2019. Over the last couple of months, this has become even more apparent, with prices tripling from June 2022, when it was around $0.4, all the way up to about $1.25.

However, the days of 100x increases are most likely over for Matic. With a market cap of about $7b, an increase of more than 10x or 20x is highly unlikely for the crypto coin. This is why Polygon investors are now looking for other coins with more growth potential, such as BudBlockz.

Why Ripple Investors Might Sell XRP

Ripple builds financial solutions for businesses with the aim of eventually replacing banks. The token XRP is the medium of exchange between two currencies or networks on the platform. XRP investors are well-known for their strong belief in the coin and the Ripple company. Their most loyal investors and fans still support them despite the 2-year long – and still pending – SEC lawsuit. At a market cap of about $18b, it is still a giant with a strong support level at around $0.20.

However, the impending risk posed by the ongoing lawsuit might drive XRP holders to sell, even at a loss. Even though the price fall has not been as severe for XRP compared to some other cryptocurrencies, Ripple has yet to regain the highs it achieved in 2017. This is another reason why Ripple investors might look for new opportunities.

Why Matic And Ripple Investors Are Buying BudBlockz

An attractive new opportunity seems to be coming in the form of BudBlockz, the first decentralized e-commerce marketplace for the cannabis industry. BudBlockz is not only a leader in the decentralized weed industry, but its token BLUNT is also still in the presale stage. This means you can buy it before it goes live on exchanges where it will likely be traded at much higher prices. And BLUNT is not just another governance token with no real value – it is used as the medium of exchange that is required to use BudBlockz. 

As such, BLUNT can be a great addition to a portfolio of big cryptocurrencies like Matic and XRP. The cannabis market only started opening up a few years ago, with global legalization slowly trickling in. Economists project a $176b market cap by 2030, meaning there is immense opportunity for growth once more jurisdictions follow the decriminalization trend. So, BLUNT is not only a great small-cap coin that you can buy early on, but it also has inherent growth potential due to the cannabis industry still being at a very early stage with vast upside potential.

Why Matic And Ripple Investors Are Buying BudBlockz – Final Words

Large-cap coins such as Matic and Ripple are considered safe crypto investments. However, their growth potential is limited, and a well-balanced portfolio is only complete with a few small-cap coins with huge growth potential, such as BLUNT. BudBlockz is not only a first mover in a potentially huge industry, but you can also still buy its token before it even hits the market.

Learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/ 

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

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All other major cryptos mentioned in this article are available to purchase from  leading exchange eToro 

India To Test CBDC From Dec 1 In These Four Key Cities

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India would carry out the pilot testing of its digital currency e₹-R  from December 1st, 2022 across four cities namely Mumbai, New Delhi, Bengaluru, and Bhubaneswar, according to the press release shared by the Reserve Bank of India.

The scope of the pilot may be expanded gradually to include more banks, users, and locations as needed, according to the P.A.

Eight banks have been identified for phase-wise participation in this pilot. The first phase will begin with four banks, namely State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank in the four mentioned cities.

The remaining others would join this pilot subsequently, the apex bank stated.

The pilot would cover select locations in closed user groups [CUG] comprising participating customers and merchants. Through a digital wallet provided by the collaborating banks and kept on users’ mobile phones or devices, users would be able to conduct transactions with e₹-R.

“Transactions can be both Person to Person [P2P]and Person Merchant [P2M)] Payments to merchants can be made using QR codes displayed at merchant locations.”

Like cash, the digital token will not earn any interest and can be converted to other forms of money, like deposits with banks, per the blog.

As reported by TronWeekly, India’s central bank launched the pilot program for its virtual currency, allowing a select group of banks to settle secondary-market trades in government securities.

India’s RBI Continue Its Hard Stance Towards Cryptocurrency

India has been developing its CBDC plans for a while. Across the country, opinions on cryptocurrency are divided. The Reserve Bank of India has adopted an aggressive stance that ranged from a total prohibition on digital assets to imposing the draconian 30% tax and 1% TDS.

On CBDC, RBI previously stated in a concept note that it “will provide the users the same experience of dealing in currency in digital form, without any risks associated with private cryptocurrencies.”

Retail CBDC will initially be made available as a stand-alone product once it is deployed. However, consumers may be prompted to download an application or digital wallet that contains the e-rupee once the new currency is subsequently integrated with current online banking services.

The top bank urged customers to request specific denominations of e-rupees from their bank, which can then be put into each one of their individual CBDC wallets.

Following FTX Failure, Christine Lagarde Pushes For Crypto Regulation in the EU

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Following the failure of the Bahamas-based exchange FTX, Christine Lagarde, the European Central Bank (ECB) president, stated during the speech at the Committee on Economic and Monetary Affairs of the European Parliament on November 28th that regulating cryptocurrencies in the European Union is an “absolute necessity.”

Responding to questions from policymakers who were concerned about the effects of FTX collapse, Christine responded that the stability and reliability of cryptocurrency had been revealed in an obvious way lately.

Concerning the FTX saga, Christine repeated her earlier call for more significant legislative action around cryptocurrencies – as the Parliament nears passage of the Markets in Crypto Assets bill (MiCA).

Regarding MiCA, which is currently being debated in the European Parliament, she said that the EU has already taken necessary steps toward efficiently regulating the industry.

Ms. Christine Lagarde asserted that enforcing MiCA would make Europe pioneers in this world of great invention and unreliability. However, the bill is expected to pass early next year and go into effect in 2024.

According to her statement:

At least Europe is ahead of the pack [in terms of regulation]. But as I said previously, it’s one step in the right direction. This is not it — there will have to be a MiCA II, which embraces broader what it aims to regulate and to supervise, and that is very much needed.

An Upcoming EU regulatory Package Following FTX Issue

She has been advocating for a second set of rules – known as MiCA II – that would continue to explore the possibilities opened up by the landmark framework, focusing on areas beyond those defined by MiCA, such as how crypto activities tie into traditional finance or decentralized financial operations.

In June, after Celsius, the cryptocurrency lending platform froze the withdrawal option for its users, Christine Lagarde first voiced her belief that stricter oversight is needed over these unregulated and unchecked parts of the digital world.

During her testimony at the European Parliament, Lagarde expressed not just her thoughts about impending inflation in Europe and across the world but also about increased crypto-asset involvement. 

She pointed out MiCA II, referring to an upcoming EU regulatory package for markets based on crypto assets:

MiCA II should regulate the activities of crypto-asset staking and lending, which are definitely increasing.

Related Reading | Ripple’s XRP Loses $790 Million In Market Cap Amid Unfavorable Market Conditions

Kraken Bows Down Before US Treasury, Agreed To Remit $360k

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Kraken, the world’s second-largest crypto exchange by market cap has reached a settlement deal with the U.S. Treasury Department’s Office of Foreign Assets Control [OFAC] over allegations of serving customers in Iran, as per the statement released by OFAC.

The U.S. Department of the Treasury’s Office of Foreign Assets Control [OFAC] today announced a settlement with Payward, Inc. d/b/a Kraken (“Kraken”), a Delaware-incorporated virtual currency exchange with operations in the United States and elsewhere.  

As part of the settlement with the OFAC, Kraken agreed to pay a fine of $362,158.70 and also consented to invest an additional $100k in certain sanctions compliance controls.  

The press release cited Kraken’s failure to implement relevant geolocation tools, including an automated internet protocol [IP] address blocking system, in a timely manner.

OFAC claimed that the US-based trading platform exported services to customers who looked to be in Iran and used Kraken’s platform to transact in digital currency.

Further details revealed that the firm allegedly processed over 820 transactions that came to be around $1.68 million on behalf of customers who may have been located in Iran.

The potential breaches, according to the Department of the Treasury, were “non-egregious and willingly self-disclosed” between October 14, 2015, and June 29, 2019.

OFAC argued despite Kraken having a sanctions compliance policy in place to prevent users from signing up in restricted countries, the platform “failed not to impose IP address blocking” on activity across its platform at the time of the alleged violation.

Kraken Failed To Implement “IP address blocking”

This failure on the part of Kraken emboldened some users to register from locations that were not subjected to US sanctions and then proceed to conduct transactions from sanctioned locations, like Iran, according to IP address data obtained by the Treasury Department.

Marco Santori, the platform’s chief legal officer told in an interview that the firm has since made a number of changes, including adding geolocation blocking to stop users from accessing the site in prohibited locations and hiring a specific head of sanctions.

Additionally, the business has spent money on staff training on sanctions compliance and has put in place “blockchain analysis tools to assist with sanctions monitoring.”

The leading exchange was among other major industry players like Coinbase, Binance, Gate.io, etc to publish proof-of-reserves, including liabilities, as part of their audits.

Dogecoin Jumps High On Musk-Laid Trampoline; 8% Price Hike In 2 Hours

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The love affair between the meme token, Dogecoin, and the Tesla founder has been a never-ending one.

Global media coverage has been attracted by Elon Musk’s enormous takeover of Twitter. One day before the deadline, on October 27, 2022, Musk finalized the deal by paying $44 billion for Twitter.

The long-awaited “Verified” service from the social media behemoth will probably go live next week, Elon Musk revealed on Twitter on Friday. Similarly to that, different colored check marks will be given out based on the type of account.

Musk recently revealed a slide from a Twitter corporate session in one of his tweets. “Twitter 2.0,” marketed as “The Everything App,” was presented by Musk. Musk also disclosed a few of the brand-new features, such as payments, long-form tweets, and the relaunch of blue verified, and encrypted direct messages (DMs).

Everyone is interested in his tweet’s payment section. Everyone wonders what will go here since it was left unfilled. Everybody is familiar with Musk and his passion for cryptocurrencies, especially Dogecoin. Many even believe that Twitter 2.0 will support Dogecoin and other cryptocurrencies for payment.

Dogecoin Price hike due to Musk’s Tweet?

Elon Musk’s preferred cryptocurrency is Dogecoin. It was hoped that the Twitter acquisition would increase the uptake of DOGE. The DOGE community also anticipated that Musk will take DOGE as payment and feature DOGE as a tipping option.

With consistently rising quantities, the pricing clearly created an ascending ladder. As the impact of the news is felt equally by the market’s two driving forces—sellers and buyers—it rises, resting briefly before continuing. All of the EMAs are left behind as the price level rises, moving above them in the process.

The king of meme coins, Dogecoin, has risen by 8% in the last two hours. Value has undoubtedly increased in anticipation of DOGE being incorporated into Elon’s social media juggernaut.

The trading volume of DOGE has increased by 84% during the past 24 hours as well. Over the past 30 days, DOGE has performed remarkably well, reaching $0.1572 for the meme coin.

It’s possible that the price of the meme coin will increase if Musk tweets about adding DOGE as a payment method.

Crypto Regulation Incoming, Israel Chief Economist Shares Recommendations

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In order to safely increase crypto adoption, Israel’s chief economist has provided policymakers with a list of recommendations for how to approach the nation’s laws governing digital assets.

Shira Greenberg, the chief economist at the Ministry of Finance, advocated for a more thorough regulatory framework that would bring trading platforms and cryptocurrency issuers into compliance and would increase the authority granted to its financial regulators in a 109-page report delivered to the Minister of Finance on Nov. 28.

Israel should strengthen investor protection and certainty, according to Greenberg, by requiring cryptocurrency issuers and trading platforms to obtain stricter licenses and by ensuring that funds derived from digital assets are managed more securely.

Greenberg suggested comprehensive taxation for crypto

Additionally, she suggested giving the Supervisor of Financial Service Providers more authority to oversee licensing regulations and create a more thorough taxation framework for the purchase and sale of digital assets.

Greenberg also advocated for the Israel Securities Authority to be given more authority, saying that such authority is necessary to determine whether a digital asset is subject to Israeli securities laws and to keep track of payment service providers’ activities in the cryptocurrency industry.

Greenberg mentioned the need for specific stablecoin issuer licensing and oversight rules, as well as the suggestion to create an inter-ministerial committee to review and manage blockchain-based decentralized autonomous organizations, in terms of legislation.

She continued by saying it was critical that lawmakers and policymakers implement rules pertaining to digital assets while keeping in mind the idea of technological neutrality.

The report, according to Israel’s Minister of Finance Avigdor Lieberman, “constitutes the most comprehensive and up-to-date report currently available on this issue for government use,” and he anticipates that it “will serve as a basis for future decisions and legislation” on issues relating to digital assets in the months to come.

Despite Israel being frequently referred to as a technologically advanced country, the country hasn’t yet demonstrated a strong interest in cryptocurrencies, placing 111th out of 146 nations in a recent global cryptocurrency adoption index conducted by blockchain data company Chainalysis.

Additionally, according to data cited by Greenberg in her report, Israeli citizens have only been involved in 21 million blockchain-based transactions, or 0.04% of all cryptocurrency transactions worldwide.

Here’s How Cardano’s AdaSwap Is Faring After Going Live On Mainnet

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According to a Monday release, Adaswap, the ecosystem developer supporting one of the first decentralized exchanges on the Cardano blockchain, has launched on the mainnet. According to rumors, the platform’s testnet version was introduced in June. One of the first applications built on top of the Milkomedia Network, a cutting-edge protocol that gives blockchains like Cardano EVM capabilities, was AdaSwap.

AdaSwap, a decentralized exchange powered by Cardano, has raised $2.6 million from backers including Pluto Digital, GBV Capital, iAngels, Finova Capital, and Banter Capital. Gal Gadot, an Israeli actress who rose to fame internationally with “Wonder Woman” in 2018, is one of the angel investors who contributed funds to the endeavor. She said,

“This is an exciting investment opportunity for us in the crypto space.”

Cardano Races Ahead Of ETH And BTC

Over the previous day, the prices of crypto assets have once again fallen. The total market value of all assets was $820 billion on Monday after experiencing a 3% drop in 24 hours. Top assets including Bitcoin, Ethereum, and Cardano experienced 2%–4% declines during that time.

Despite the downturn, the asset’s users have been utilizing it more frequently. It was the most active blockchain at the time of publication, ahead of Bitcoin, Ethereum, and other well-known networks. As shown in the graph below, nearly $6.4 billion in volume was settled on Cardano on the previous day. Contrarily, the volume of transactions for Bitcoin and Ethereum was $4.75 billion and $1.84 billion, respectively.

Ardana, a DeFi project built on Cardano, stopped development last week due to financial and timetable concerns. After the aforementioned occurrence, the environment appeared to be disturbed. However, it doesn’t appear to be the case.

Cardano placed third in terms of weekly development activity, according to GitHub activity statistics.

In reality, the Cardano Improvement Proposal for entering the Voltaire phase was released last week, according to a recent update report. There were also ongoing “fundamental technology enhancements.” The Lace development was “progressing” concurrently.


Screenshot 211
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Therefore, Lace is a light wallet that is currently being developed with the goal of enabling users to manage, control, and store their cryptos all in one location.

Over 1,146 projects are now being developed on the blockchain. Over 106 projects have already been started on Cardano, and over 3,759 Plutus scripts have been deployed as of right now.

At the conclusion of the previous week, the network had also managed the minting of more than 6.9 million native tokens under 65,539 different minting rules.

Orbeon Protocol (ORBN) and Huobi Token (HT) prices spike, Chiliz (CHZ) dumps as World Cup begins

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Orbeon Protocol (ORBN) and Huobi Token (HT) are cryptocurrencies that could help protect your portfolio during the ongoing crypto winter. Multiple analysts anticipate ORBN to rally in its presale by more than 6000%. Chiliz (CHZ), a cryptocurrency known for its focus on sports and entertainment, had its price plummet as the World Cup began.

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN)

Orbeon Protocol (ORBN) is a revolutionary decentralized investment platform that aims to transform the crowdfunding and venture capital sectors with fractionalized NFTs. With these fractionalized NFTs, participants of Orbeon Protocol will be able to profit from early investments in potential startups.

These equity-backed NFTs can be issued by startups seeking funding for as low as $1. This enables everybody to access the previously restricted venture capital market.

Orbeon Protocol (ORBN) will use a “Fill-or-Kill” method, which is the best aspect of this development. This approach will ensure that all investors receive a refund if a startup company fails to achieve its funding target.

Analysts forecast that Orbeon Protocol‘s (ORBN) native  token would increase in value by over 6000% due to this innovative usage of NFTs to make venture capital investing accessible to the masses. This is mirrored in the performance of the project’s presale since the first phase has already sold out, and the second phase is presently ongoing. The price of the token has already increased from $0.004 to $0.0144

Huobi Token (HT)

The Huobi Token powers the Huobi Ecosystem, which is currently one of the biggest cryptocurrency exchanges supporting DeFi and Web3. Alongside Binance and OKX, Huobi Global provides funding and infrastructure for developing scalable DeFi services.

Considering its current low price, Huobi could be a hedge for your portfolio. You are protected from extreme market volatility as a utility token of a vast ecosystem like Huobi. Huobi, like many other exchanges, has provided evidence of their reserves, which is an important takeaway.

On the Huobi exchange, traders and investors use Huobi Token as a unique exchange token. Traders that keep Huobi tokens in their hot or cold wallets linked to their Huobi accounts receive immediate tiered discounts.

Chiliz (CHZ)

Chiliz (CHZ) operates the blockchain-based sports entertainment network Socios, which allows fans to influence the management of their preferred sports organizations. Numerous fan tokens on Socios.com serve as an illustration.

Fan tokens enable sports teams and institutions to interact with their supporters while generating new revenue streams. Chiliz provides sports and entertainment organizations with blockchain-based technology that allows them to engage with and monetize their followers. 

In the run-up to the 2018 FIFA World Cup, Chiliz (CHZ) has predominantly traded in the green zone. However, most altcoins have fallen in line with the general price movement of the cryptocurrency market.

However, since the start of the worldwide championship on November 20, the Chiliz network that enables teams to create fan tokens has lost its bullish momentum, and bears appear to be gaining the upper hand. CHZ has lost more than 22.5% since the beginning of the World Cup and is currently trading for $0.18.

 Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register 

Telegram: https://t.me/OrbeonProtocol 

BlockFi and SBF Lock Horns Over Robinhood Shares

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According to the Financial Times, which cited loan documents it had seen, cryptocurrency lender BlockFi, which on Monday filed for bankruptcy protection, sued Emergent Fidelity Technologies, the company owned by FTX founder Sam Bankman-Fried, on the same day for Robinhood (HOOD) shares that had been pledged to BlockFi as collateral.

According to the complaint, on November 9 an agreement was made between BlockFi and Emergent Fidelity Technologies to guarantee repayment by an unknown borrower in exchange for the collateral of an undisclosed common stock. According to the Financial Times (FT), which cited court correspondence, the borrower was Bankman-Fried’s Alameda Research.

According to two people with knowledge of the situation, Bankman-Fried continued to try to sell his Robinhood shares after entering into the collateral agreement with the asset trading firm while trying to raise money before to FTX’s bankruptcy.

BlockFi Files For Bankruptcy: Domino Effect Continues

Days after halting withdrawals due to the lingering effects of exchange FTX’s bankruptcy filing, crypto lender BlockFi filed for bankruptcy protection on Monday.

The business announced that it was seeking Chapter 11 bankruptcy protection, indicating that it wanted to restructure while carrying on with the business in the interim. The firm has around $257 million in cash in hand, claims a press statement. A Bermuda-based affiliate is likewise submitting a similar form for liquidation.

BlockFi’s executives estimated the company has more than 100,000 creditors, and they marked off the ranges in the petition for the company. According to executives, the company’s assets and liabilities ranging from $1 billion to $10 billion.

As the overall bitcoin market shrank in June, the company reduced its personnel by around a fifth. One indicator of the market’s entire value, the market capitalization, dropped from almost $3 trillion in January to $1 trillion by June.

BlockFi CEO Zac Prince stated that the company had to liquidate a significant client following the failure of Three Arrows Capital, albeit he did not specify whether or not this client was Three Arrows. Soon after, the lender received a $250 million credit facility from the cryptocurrency exchange FTX. This credit facility ultimately became a $400 million credit facility that allowed FTX US to purchase the lender.

Bitfront: The Demise Of LINE’s Crypto Exchange

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LINE’s crypto exchange, Bitfront, has announced that it is ceasing operations. The exchange declared its closure on November 28th while stating that it will not stop developing the LINE blockchain ecosystem or the LINK token ecosystem.

The company, known initially as Bitbox, was established in February 2020. It facilitates trading in US dollar fiat markets for the major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH), as well as Link, the mainnet token for Line’s blockchain.

The business stated that, unfortunately, they have decided that they must close down Bitfront despite their attempts to overcome the difficulties in this quickly-evolving market.

The closure of Bitfront comes in response to the market turbulence and liquidity problems brought on by the consequences of the FTX meltdown in early November. Services and enterprises were brought dangerously close to insolvency due to exposure to FTX and the market liquidity crisis.

According to Bitfront statement:

Please note that this decision was made for the best interest of the LINE blockchain ecosystem and is unrelated to recent issues related to certain exchanges that have been accused of misconduct.

However, by March 31st, 2023, the platform will also stop allowing withdrawals of any kind. Its US customers can claim their assets after that date in each state, while its international customers can do so in Delaware, US. Further details are mentioned in the notice.

Along Bitfront, Crypto Firms Hit Hard By “Crypto Winter”

Fears of interest rate increases and “Crypto Winter” have had a significant negative impact on cryptocurrencies. The biggest digital asset in the world, bitcoin, is down more than 56% from its high, and many cryptocurrency companies have had to file for bankruptcy. 

Additionally, in the first six months of 2022, following the implosion of TerraUSD and LUNA, the prices for all digital currencies plummeted. Multiple crypto-focused companies are now struggling financially; some have already gone under because they couldn’t keep up.

Similar to how Celsius Network began in 2017 and filed for bankruptcy in July 2022, the corporation claimed in a court document that between March 30th and July 14th, 2022, the value of its assets had fallen by 80%.

Following that, on November 11th, 2022, two significant cryptocurrency exchanges—FTX and FTX.US—filed for bankruptcy. The action was taken following a sell-off of FTT, FTX’s native token, and a significant number of withdrawals. Soon after declaring bankruptcy.

Related Reading | Ripple’s XRP Loses $790 Million In Market Cap Amid Unfavorable Market Conditions