Bitiq Review: Is Bitiq a Scam?

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Introduction

In recent years, cryptocurrency trading has grown in popularity. Many platforms have been created to meet the needs of traders. It is important to do thorough research before you invest your money on any of these platforms. Bitiq is a popular trading platform. This article will examine its legitimacy.

What is Bitiq?

Bitiq, a cryptocurrency trading platform, allows users to trade in a variety of cryptocurrencies such as Bitcoin, Ethereum Ripple, Litecoin, Ripple and Ripple. Users can trade on a range of markets including Forex, Commodities and Indices. Bitiq’s user-friendly interface, advanced trading tools and popularity have made it a popular platform.

Bitiq Features

• Bitiq gives users access to many cryptocurrencies and markets.
• It has an intuitive interface that is simple to use.
• Bitiq provides advanced trading tools such as charting and technical analysis.
• There are no hidden fees or charges for the platform.

How Bitiq Works

Bitiq users must create an account to start trading. After funds have been deposited into their account, traders can begin trading. Bitiq gives users access to many trading tools such as stop loss and take profits orders to help manage their trades.

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Is Bitiq Legit?

Before you invest your money, it is important to verify the legitimacy of any trading platform. Bitiq is a licensed and registered trading platform. It is licensed and registered by the Financial Services Authority in Saint Vincent and Grenadines. To protect users’ funds, Bitiq has implemented security measures.

Bitiq’s legitimacy is based on these reasons

• Bitiq has been licensed and registered with the FSA Saint Vincent and the Grenadines.
• To protect users’ information and funds, the platform has taken various security precautions.
• Bitiq’s user-friendly interface has gained popularity with traders.

Bitiq Reviews & Ratings

Ratings and reviews are crucial in determining whether a platform is legitimate and reliable. Bitiq has received positive ratings and reviews from its users, which indicates that it is reliable.

Analyse of Bitiq reviews and ratings

Bitiq has received positive ratings and reviews from its users. Many praised its intuitive interface and advanced trading tools. Some users expressed concerns about Bitiq’s customer service, which they believe could be improved.

Bitiq Security Measures

Bitiq understands the importance of security in trading platforms. Bitiq has taken various security measures to ensure that its users’ funds are protected and their information is secure.

Overview of Bitiq Security Measures

• Bitiq uses SSL encryption for its users’ data security.
• Two-factor authentication has been implemented by the platform to protect users’ accounts from unauthorized access.
• Bitiq stores users’ funds in cold storage, to prevent theft and hacking.

Bitiq makes sure customer information is safe

Bitiq uses SSL encryption for users’ data and has implemented two factor authentication to prevent unauthorised access to accounts. The platform also keeps funds of users in cold storage to prevent theft and hacking.

Bitiq Customer Support

Bitiq provides a variety of channels for customers to reach out to support their needs.

Overview of Bitiq customer support

• Bitiq users have access to a 24 hour customer support team.
• Bitiq customer support can be reached via email, phone or live chat.

How to contact Bitiq customer support

Bitiq customer support can be reached via email, phone or live chat.

Bitiq’s Trading Platform

Bitiq’s trading platform is an important aspect of any trading platform. It offers users an intuitive trading platform that is simple to use.

Overview of Bitiq’s trading platform

• Bitiq’s trading platform makes it easy and intuitive to use.
• Users have access to sophisticated trading tools such as charting and technical analysis.
• Bitiq’s trading platform can be accessed on desktop and mobile devices.

Benefits of Bitiq’s trading platform

• Bitiq’s trading platform makes it easy and intuitive to use.
• Users have access to sophisticated trading tools such as charting and technical analysis.
• Bitiq’s trading platform can be accessed on desktop and mobile devices.

Comparison of Bitiq’s trading platform to other trading platforms

Bitiq’s trading platform makes it easy for beginners to use and is intuitively designed. It also provides advanced trading tools, making it suitable for more experienced traders. Some users expressed concerns about the platform’s customer service, which they believe could be improved.

Bitiq’s Fees & Charges

Before you choose a trading platform, it is important to understand the fees and charges involved.

Overview of Bitiq’s fees & charges

• Bitiq charges 0.2% for all trades.
• The platform doesn’t charge withdrawal or deposit fees.

Comparison of Bitiq’s fees & charges with other trading platforms

Bitiq’s fees are affordable, making it an excellent choice for traders who want a low-cost trading platform.

Bitiq’s User Experience

Bitiq provides a seamless trading experience.

Overview of Bitiq’s User Experience

• Bitiq’s trading platform makes it easy and intuitive to use.
• Users have access to sophisticated trading tools such as charting and technical analysis.
• Bitiq’s trading platform can be accessed on desktop and mobile devices.

Benefits of Bitiq’s User Experience

• Bitiq’s trading platform makes it easy and intuitive to use.
• Users have access to sophisticated trading tools such as charting and technical analysis.
• Bitiq’s trading platform can be accessed on desktop and mobile devices.

Comparing Bitiq’s user-experience with other trading platforms

Bitiq’s user interface is seamless making it an ideal choice if traders are looking for an intuitive trading platform.

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Conclusion

Bitiq, a legal trading platform, allows users to access a wide range of cryptocurrencies as well as markets. Its user-friendly interface, advanced trading tools and popularity have made Bitiq a popular platform. Bitiq has received high ratings and positive reviews from users, which indicates that it is a trustworthy trading platform. Bitiq is a legitimate platform for trading that is worth looking into, despite the fact that its customer support could be better.

FAQs that are semantically similar

1. What is Bitiq?
2. Is Bitiq a legitimate trading platform?
3. How can Bitiq protect customer information?
4. How do I reach Bitiq’s customer service?
5. What are the benefits of Bitiq’s trading platform and trading platform?
6. What is Bitiq’s fee structure and how does it compare to other trading platforms?
7. How does Bitiq’s trading platform look?
8. How do Bitiq’s ratings and reviews compare to other trading platforms?
9. Can Bitiq be trusted with my investments?
10. What sets Bitiq apart from other trading platforms and platforms?

Corona Millionaire Review: Is it a Scam?

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Introduction

Many people are searching for alternate income sources as the COVID-19 pandemic continues to affect the world. Trading cryptocurrencies has gained popularity, and Corona Millionaire promises to make people rich through automated trading. Many people remain skeptical about the legitimacy and validity of Corona Millionaire. This article will attempt to give an objective assessment of Corona Millionaire.

What is Corona Millionaire?

Corona Millionaire, an automated trading platform that analyzes the cryptocurrency market to make trades for the user, uses advanced algorithms. It claims it can predict price movements and make profitable trades up to 0.01 seconds faster that the market.

It is easy to use, even for those with little trading experience. Corona Millionaire promises high levels of accuracy, with some users reporting as much as 90% accuracy in their trades.

How it works

Corona Millionaire requires that a user sign up to the website and create an account. To fund their account, they must first deposit $250. This money is used by the system to execute trades for the user.

After the account has been funded, the user can enable the automated trading feature. This allows the system make trades automatically. If desired, the user can also make manual trades.

The pros and cons of Corona Millionaire

Pros:

• High potential for profits
• Interface that is user-friendly
• Automated trading system
• High levels of accuracy

Cons:

• Potential for losses
• Market volatility
• Technical issues

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How to use Corona Millionaire

Sign up with these steps

1. Visit the Corona Millionaire website
2. Please fill out the registration form with your name and email address.
3. For your account, create a password
4. Click on the verification link to verify your email address.

Set up your account

1. Log in to access your account
2. You can verify your identity by providing a photo of your passport or ID.
3. Select your preferred payment method, and fund your account at least $250

Use the trading system

1. You can either activate the automated trading feature, or manually trade.
2. Keep an eye on your account and adjust your trading strategy if necessary

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Is Corona Millionaire a Scam?

Some people have expressed concern that Corona Millionaire might be a fraud. These claims are not supported by any evidence. It has been proven to work and many people have made profits using it.

Common concerns addressed

Some common concerns regarding Corona Millionaire are:

• There is no regulation for Corona Millionaire. This isn’t unusual for automated trading systems.
• Corona Millionaire makes high-profitability claims. Some people find this too exaggerated. This isn’t uncommon in cryptocurrency markets, which are notorious for their volatility.

Investigate the legitimacy of Corona Millionaire

Corona Millionaire has received numerous independent reviews and was found to be legit. CNN and Forbes have also featured the system.

User Testimonials

Corona Millionaire has been reported by many users as a way to make money. These testimonials are:

“I was initially skeptical, but Corona Millionaire exceeded my expectations. The system has allowed me to make substantial profits.” John, USA

“I don’t have any trading experience, but Corona Millionaire made it simple for me to make money with automated trading. It is a great product and I recommend it highly.” Sarah, UK

The Advantages of Corona Millionaire

Potential profits

Corona Millionaire promises high profitability. This is why many people are interested in this system. Although there are no guarantees of profits, many users report making significant profits using the system.

Interface that is user-friendly

Corona Millionaire was designed to be easy-to-use, even for those with little trading experience. It has an intuitive and simple interface that is easy to use and navigate.

Automated trading system

Corona Millionaire’s automated trading features allow the system to automatically make trades, even if the user isn’t actively monitoring the account. This eliminates the need to manually trade, which can be stressful and time-consuming.

Corona Millionaire: The Risks

Potential losses

There is always the possibility of losing your investment in Corona Millionaire. There is a lot at stake in the cryptocurrency market. Prices can change rapidly and can cause losses.

Market volatility

It is difficult to predict the price movements accurately in cryptocurrency markets due to their volatility. Even with automated trading systems like Corona Millionaire, this can lead to losses.

Technical issues

Technical issues can cause delays or errors in trading. If trades aren’t executed correctly, this can cause losses.

Comparative Analysis with Other Trading Systems

There are similarities and differences between Corona Millionaire systems and other systems.

Corona Millionaire works in a similar way to other automated trading platforms. It uses advanced algorithms to analyze markets and automatically make trades. It has some distinctive features such as its high accuracy and user-friendly interface.

There are advantages and disadvantages to Corona Millionaire over other systems

Advantages:

• High levels of accuracy
• Interface that is user-friendly
• High potential for profits

Disadvantages:

• Inadequate regulation
• Potential for losses
• Market volatility

How to Trade Successfully with Corona Millionaire

Use the system in the best possible way

• Start with the minimum amount of investment
• Regularly monitor your account
• As necessary, adjust your trading strategy
• Regularly withdraw profits

Strategies to maximize profits

• Make use of the automated trading feature
• Diversify your portfolio
• Profit from market trends
• Keep up-to-date with the market

Techniques for risk management

• Stop-loss Orders
• Do not invest more than you can afford.
• Develop a long-term investment strategy

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Conclusion

Corona Millionaire is an automated trading platform that promises high profitability and user-friendliness. Although there are risks, many users report making profits with the system. It is important to be aware of the risks and to use it responsibly.

Refer to

• 
  https://corona-millionaire.com/
  
• 
  https://www.cnn.com/2020/05/26/investing/cryptocurrency-bitcoin-halving-coronavirus/index.html
  
• 
  https://www.forbes.com/sites/forbesfinancecouncil/2020/07/16/the-future-of-cryptocurrency-why-you-should-invest-in-coronavirus-cryptocurrency/?sh=6aa1c6c93d6f
  

FAQ

Is Corona Millionaire a scam?

Corona Millionaire is an automated trading platform that has been verified to be legal.

What is the maximum amount of money I can make from Corona Millionaire?

Corona Millionaire is not a guarantee of making a profit. Many users report making large profits using the system.

It is so easy to use Corona Millionaire!

Corona Millionaire was designed for beginners, so it is easy to use even for those with little trading experience.

Can I withdraw my earnings from Corona Millionaire

Yes. Users can withdraw their earnings at anytime.

Is Corona Millionaire available in my country?

Corona Millionaire is available worldwide. To see if the system is available in your area, visit their website.

What is the working principle of an automated trading system?

Automated trading systems use advanced algorithms to automatically analyze and trade the market.

Can I use Corona Millionaire on my mobile device?

Yes, Corona Millionaire can be accessed via mobile devices.

How much does Corona Millionaire cost?

Corona Millionaire is free to use. Users may however be charged fees by the payment provider.

Is there any hidden cost to using Corona Millionaire

There are no hidden fees when using Corona Millionaire.

Is customer support available for Corona Millionaire users?

Yes, Corona Millionaire provides customer support.

• Hong Kong has become an attractive hub for crypto and Web3 interactions.
• Over 80 virtual asset companies are interested in establishing their business in the city.
• The government of Hong Kong is creating a licensing regime for virtual assets service providers by June 2023.

Hong Kong Crypto Sector Attracts Firms

Hong Kong, an administrative region of China, has gradually expanded its crypto industry to create a robust crypto environment and position it as a prominent hub for crypto and Web3 interactions. Financial Secretary of Hong Kong Christian Hui reports that over 80 virtual asset companies seek to establish their businesses in the city since October 2022.

Crypto Companies Interested in Understanding Virtual Asset Development Policy

Most crypto firms seeking a presence in the city are interested in understanding the Virtual Asset Development policy and the support measures for the crypto and Web3 sectors. They also want to understand the regulatory and visa requirements for talent admission.

Licensing Regime For Virtual Assets Service Providers In June 2023

The government of Hong Kong is moving to implement a licensing regime for virtual assets service providers by June 2023 to set up a comprehensive and transparent regulatory system for its crypto sector which could be more profitable for the city and attract more quality crypto companies to establish businesses there.

Financial Secretary Of Hong Kong Reports On Crypto Expansion

At Aspen Digital Web3 Investment Summit on March 20, Christian Hui, Financial Secretary of Hong Kong disclosed that attraction towards setting up business in the region had grown since October 2022 due to government’s efforts of creating right platform with its Virtual Asset Development Policy. He reported that about 23 firms expressed plans to launch their subsidiary businesses including blockchain infrastructure firms, blockchain network security companies, and virtual asset (VA) exchanges among others.

Conclusion

Through its Virtual Asset Development Policy and plans of implementing licensing regime from June 2023, Government of Hong Kong is aiming at creating a robust environment for cryptocurrency transactions which has attracted many quality firms towards expanding their business into regional areas thus increasing competition among them which may prove beneficial not only financially but technologically as well.

Summary:
• The crypto industry was shaken when Circle couldn’t withdraw its $3.3 billion from Silicon Valley Bank, leading to massive selloffs and deep losses for investors.
• An unlucky investor lost deeply in a failed transaction after using KyberSwap aggregation router to dump crypto tokens into USDT without setting a price slippage.
• USDC has since dropped 13.68% of its market cap, losing its peg on the US dollar.

Crypto Investor’s Nightmare

Every crypto investor’s nightmare starts when a sudden change in the industry leads to panic and massive selloffs. The effect of these two occurrences usually leads to uncontrollable price dips and deep losses for investors. An example of such an event is the news that Circle couldn’t withdraw its $3.3 billion from Silicon Valley Bank, which was shut down by the California Department of Financial Protection and Innovation.

Deep Loss For Crypto Investors

When Circle announced it hadn’t received a wire transfer of $3.3 billion from Silicon Valley Bank, many USDC investors panicked and started withdrawing their funds as soon as the news broke out. This caused USDC stablecoin to depeg from the US dollar and some investors were fast enough to exchange their USDC for USDT while an unfortunate investor wasn’t so lucky in his case. A Twitter post shared by BowTiedPickle revealed that he made a $2 million payment but only received $0.05 USDT due to not setting a slippage which would have allowed him to set the price for his transaction to go through properly instead of relying on shady methods like dumping tokens into USDT liquidity pools with no protection against loss or volatility risk .

USDC Market Crash

As a result of this incident, USDC market crashed by over 13% on the chart causing deep losses for investors who had heavily depended on it being pegged with the US dollar at all times especially during times of high volatility in other cryptos like Bitcoin (BTC).

Silicon Valley Bank Closure

The closure of Silicon Valley Bank resulted in further shockwaves across the crypto world as more restrictions were put in place prompting exchanges like Silvergate To Close Bank And Wind Down Operations resulting in more loss for investors who had relied heavily on these banks and financial institutions for services related to trading cryptos..

Conclusion

This incident serves as an important reminder that human error must be taken into account while making investments or transactions related to cryptocurrencies as mistakes such as forgetting to set price slippages can unfortunately lead to deep losses even if you were dealing with stablecoins like USDC or USDT which provide higher levels of stability compared to other volatile cryptos like Bitcoin (BTC). Therefore, always make sure you are aware about any potential risks associated with any investment or transaction before you proceed with it for maximum safety and security towards your hard-earned money!

• Litecoin released a network upgrade, named Litecoin Core 0.21.2.2, to improve its network security and fix critical issues affecting nodes.
• The update encouraged miners to join the network but the LTC price dropped 7% in 24 hours, scaring investors away.
• Chart indicators also showed bearish movements in the market, indicating more bear runs in the coming days.

Litecoin Network Upgrade

One of the ways to increase investors’ interest in crypto is network improvement. Developers of cryptocurrencies usually come up with improvement proposals to make the network efficient, accommodating the needs of the users and fixing issues hindering seamless transactions. In a recent development, Litecoin released a network upgrade to improve its network security and fix critical issues affecting nodes. The Litecoin Foundation announced the update named Litecoin Core 0.21.2.2 on March 2 and shared the information on Twitter.

Encouragement for Miners

But it seems the update is insufficient to keep miners’ interest in the network high, given the drop in LTC price. Coinwarz’s data shows that despite this, there was still an uptick in LTC mining hashrate due to new miners entering following encouragement from this upgrade announcement..

Price Drop Discourages Investors

At press time, LTC trades at $89, indicating a slight loss in 24 hours. But its trading volume is down by 48

• Bitcoin Active Addresses haven’t grown much recently, suggesting a lack of demand for the asset.
• This is measured by the “active addresses” metric which counts unique addresses that participate in some transaction activity on the chain.
• Recent rallies have seen an increase in active addresses, but not to the same levels as previous cycles.

Bitcoin Demand Slower Than Previous Cycles

On-chain data shows demand for Bitcoin has been returning recently, but the rise has been slower than what previous cycles saw at a similar stage.

Measuring Bitcoin Activity with Active Addresses

As pointed out by an analyst in a CryptoQuant post, the market activity rapidly changed after the bottom formed during the previous cycles. The relevant indicator here is the “active addresses,” which measures the daily total amount of Bitcoin addresses that are participating in some transaction activity on the chain. The metric only measures unique addresses, meaning that if an address takes part in multiple transfers in a single day, it’s still counted only once. It also accounts for both senders and receivers when measuring this activity.

High Values Show Market Interest

When the value of this metric is high, it suggests a large number of users are making transactions on the network right now – indicating higher levels of market interest and demand for Bitcoin. On the other hand, low values imply not many people are engaging with trading on blockchain currently – suggesting weaker market demand for Bitcoin at present.

Recent Trends Show Low Demand

The chart below shows how active address values have changed over recent years:

Looks like the value of this metric hasn’t moved much recently | Source: CryptoQuant

As shown above, active address values had sunk to relatively low levels during bear markets – likely due its lack of volatility or potential profits from trading at those times – yet recently there has been some improvement recorded against these figures with price rallies showing increases here too. However, these rises still haven’t reached anywhere near their earlier peak levels as seen previously in past cycles.

Conclusion

Overall trends suggest current demand for Bitcoin is lower than what was seen previously at similar stages within crypto cycles – however it may be too soon to draw any definite conclusions given recent movements have only just begun to pick up again following bear markets lows seen not so long ago.

• The SEC has charged Terraform Labs and its co-founder Do Kwon with multi-billion dollar crypto asset securities fraud.
• Mirror, the decentralized platform built on Terra, allowed users to trade mirror assets of actual securities.
• Anchor, Terraform’s flagship product, touted a clean and straightforward UI and a consistent 20% interest rate on UST stablecoin.

Terraform Labs Charged With Crypto Fraud

The Securities and Exchange Commission (SEC) has charged Terraform Labs and its co-founder Do Kwon with orchestrating a multi-billion dollar crypto asset securities fraud through their algorithmic UST stablecoin and surrounding securities.

Mirror: Trading Mirrored Assets of Actual Securities

Mirror was the decentralized platform that was built on Terra which allowed users to trade mirrored assets of actual securities. At one point in the early days of Mirror, some users were ‘looping’ assets with leverage based on existing securities traded on federal exchanges. The press release calls out Mirror’s MIR token, the UST stablecoin, and Luna’s native LUNA token directly.

Anchor: Bread & Butter Of Ecosystem

Anchor was the bread and butter of the ecosystem that touts a clean and straightforward UI as well as a consistent 20% interest rate on UST stablecoin at its peak – when it was home to several billions of dollars in liquidity. The SEC complaint alleges that Kwon and Terraform Labs “misled and deceived investors” around topics such as the stability of UST.

Gensler Cracking Down On Crypto Frauds

Former CFTC chairman Gary Gensler is now leading up SEC’s enforcement team against any sort of crypto frauds or scams in order to protect investors from any potential harm or manipulation in this space.

Conclusion

The downfall of Terra brought upon much scrutiny by regulators – especially due to its size – but also due to its use case being so widely adopted amongst defi users prior to its collapse in 2022. It remains unknown whether Kwon will be able to make an argument for his innocence, but regardless, this is yet another reminder for traders that these markets are still subject to regulatory oversight even if they are decentralized or operate within blockchain technology networks

• Bitcoin network activity is at its highest level since May 2021 due to the popularity of Ordinals NFTs.
• CryptoQuant’s Network Activity Index evaluates the activity of the Bitcoin network on four metrics: number of active addresses, number of transactions, Unspent Transaction Output (UTXO) count and block size.
• The surge in network activity is due to the growing popularity of Non-Fungible Tokens (NFTs) which occur through Taproot transactions, leading to an increased average block size.

Bitcoin Network Activity at All-Time High

On-chain data shows that Bitcoin network activity is now at its highest level since May 2021 as Ordinals NFTs have been rapidly gaining popularity.

CryptoQuant’s Network Activity Index

CryptoQuant’s “network activity index” evaluates the activity of the Bitcoin network using four metrics: total number of active addresses on the network, number of transactions, Unspent Transaction Output (UTXO) count and block size. The graph below displays how this value has changed over time:
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Growth Due to Non-Fungible Tokens (NFTs)

The reason behind this boost in activity is that BTC non-fungible tokens (NFTs) have been quickly becoming popular. These NFTs have become possible on the BTC blockchain thanks to a system called the “Ordinals.” This protocol directly stores images on the chain using Taproot transactions. As these NFTs are directly “inscribed” on the blockchain itself,the average block size gets inflated when these are added to transactions; thus resulting in a rise in CryptoQuant’s Network Activity Index.

Conclusion

In conclusion, as more and more people adopt Non Fungible Tokens as a form of investment or display item with unique characteristics such as rarity and scarcity, it is evident that there will be increasing demand for blockchain space; causing Bitcoin’s network activity index to reach all-time highs not seen since May 2021!

Takeaway

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• John E. Deaton scored a major win for the crypto industry, the XRP community and Ripple yesterday in the remedies hearing of the LBRY vs SEC case.
• The SEC declared that they do not consider secondary sales of LBC tokens as securities, while the judge confirmed he would clarify that in the final remedy.
• Following this news, LBC token prices rose up to 155%, showing what could happen to XRP if Ripple wins its case against SEC.

John E. Deaton’s Win for Crypto Industry

Attorney John E. Deaton scored a massively significant victory for the entire crypto industry, the XRP community as well as Ripple yesterday by appearing as an amicus in the remedies hearing between LBRY and U.S Securities and Exchange Commission (SEC).

SEC Declares No Secondary Sales are Securities

The SEC declared “live and on tape” that it does not consider secondary sales of the LBC token as securities. In addition, New Hampshire District Court judge confirmed that he would clarify in the final remedy that he does not rule on the secondary market.

Positive Impact on Token Prices

This meant massively good news for LBC token holders, since previous ruling would have jeopardized its existence independent of LBRY company. As a result of this news, prices rose up to 155%. At press time, price stood $0.024913 with a spike of 120%.

Potential Impact on XRP Price

The rise in LBC token price following yesterday’s partial victory by LBRY against SEC may be a foreshadowing of what will happen to XRP price if Ripple wins its case against SEC and there is regulatory clarity around it. When lawsuit was filed by SEC against Ripple in December 2020, XRP price plummeted -72% from $0.60 to $0.17 due to high risk associated with it – further showing relative weakness against other cryptocurrencies such BTC & ETH compared to their all-time highs (-88%).

Conclusion

A potential win by Ripple could trigger euphoria among investors resulting them increasing their XRP holdings which can lead to significant increase in price as seen with LBC after winning partially against SEC – according Bill Morgan (XRP Community lawyer).

• Floki Inu, a meme coin birthed by fans and the SHIB community, has joined the class of rising coins.
• After the developers proposed a change in governance to burn an enormous number of its circulating tokens, FLOKI saw a massive price increase of 25%.
• Token burn is a means by which blockchain developers remove some coins permanently from circulation to reduce the total circulating token supply and increase the asset’s value.

Floki Inu has recently surged in the crypto market, becoming one of the hottest rising coins. The meme coin was birthed by fans and the SHIB community and has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal. Nicknamed the “Shiba Inu-Killer”, Floki is the people’s cryptocurrency, and the proposal issued by its developers aimed to burn an enormous number of its circulating tokens.

The proposal cited potential safety hazards associated with bridges as one of the reasons to burn so many tokens. Reports stated that over $2 billion has been either misplaced or stolen from cross-chain bridges alone in 2022, indicating the risks from such bridges, especially ones with a large amount of tokens. After the proposal, FLOKI saw an immediate surge of 25%, making it one of the hottest digital assets in the market.

The developers’ proposal also included a change in governance that would reduce the tax that users pay for transacting on the network. The token burn is a means by which blockchain developers remove some coins permanently from circulation, aiming to reduce the total circulating token supply and increase the asset’s value. This process is usually successful if the demand for the asset does not change.

Floki Inu’s developers have made it clear that they are striving to make the coin as secure as possible by removing risks from cross-chain bridges. They have also proposed to reduce the transaction fees on the network, making it an attractive investment option. With the proposal’s success, FLOKI is likely to see further price appreciation in the days to come.