Choose your Cryptos and Blockchain Carefully — VAULT Cryptocurrency Blockchain News #24
If you go to CoinMarketCap.com and CoinGecko.com, you will see that they list 11,061 cryptos and 9,333 coins, respectively. Many of these cryptocurrency coins and tokens operate on different blockchains. Recently, many blockchains have been advertised as being the best. If you are doing your research and trying to decide where to invest your money, how do you choose?
Many people look to popular crypto data and ranking sites such as Coinmarketcap.com to get information on which cryptocurrencies are doing the best and have the highest market caps, prices, charts and other information and data. Many investors were burned in the ICO craze of 2017 and now only want to invest in top-rated and large market cap coins as these coins tend to have the largest volume and most stable prices, and many look for low cap hidden gems and try to pick the next 100x altcoin.
Most cryptos feel like they have made the big time when their coin or token gets listed on CoinMarketCap or CoinGecko, and I see tweets all the time with these announcements. Getting listed on those popular sites that many crypto investors follow and regularly check can add legitimacy and visibility to cryptocurrencies. Making the top 10 or so on these sites means your crypto is an established altcoin with a large market cap and an attractive, highly visible investment.
Many prominent cryptocurrency experts and influencers use and mention sites like CoinMarketCap to promote the coins they review. BitBoy Crypto is a cryptocurrency influencer that promotes his channel as the largest cryptocurrency channel on all the interwebs with current subscribers of 1.27 million. BitBoy has stated, “if it is not on CoinMarketCap, it doesn’t exist.” He has also produced several tutorial videos on how to use CoinMarketCap going back to 2019.
Many people were concerned when CoinMarketCap was purchased by Binance that there would be a conflict of interest. The most popular coin ranking site would now be owned by the most popular exchange. BitBoy made a video on how wonderful this was going to be for Bitcoin.
CoinMarketCap advertises itself as a fair and honest site that ranks cryptos based on their market cap. A coin or token’s market cap is calculated by multiplying its current price by its circulating supply. This seems like it would be a simple process.
A quick view of the CoinMarketCap website shows that all of the cryptocurrencies seem fairly listed until you reach page 3. Listed at rank #201 with a market cap of over $78 billion is a token called HEX. According to these values, this should place HEX as the number 3 crypto, just above Cardano at $76 billion. If this is true, then why is it ranked #201 on page 3 and not #3 on page 1? Hex is not alone, there are currently 9 other coins on page 3 with listed market caps of over 1 billion dollars. All of these would qualify to be in the top 100 but instead are buried on page 3 at under number 200 in ranking on the site.
Recently, a cryptocurrency investor and member of the community supporting HEX filed a lawsuit against CoinMarketCap and Binance to find out the answer.
The point of this is to make you aware that some cryptocurrency data and ranking sites may not accurately report the correct market cap rankings, so investors researching cryptos need to dig deeper into and think about those rankings. You can read through the 47 pages of the HEX lawsuit to see allegations of why these sites might not be accurately reporting some rankings. Binance and CoinMarketCap are popular, respected leaders in crypto and I’m neutral and not saying they have done anything wrong or that the HEX-related lawsuit is valid. A judge in Arizona will make a decision on the validity of this lawsuit, and the results should be interesting.
VAULT Crypto News This Week
BIG CHANGES COMING FOR STRONGHOLD
The current version of Stronghold will close next Monday, September 20th, with a new version for everyone coming soon! When the current version ends, so will the ability to purchase lifetime hosting. Until next Monday, you can activate Stronghold with lifetime fee-free hosting (the current limit is 40 nodes per account) at https://stronghold.vault.investments/
If you’ve already activated Stronghold, don’t worry because you will continue to receive your lifetime fee-free hosting benefits.
Everyone holding VAULT coins on VAULT platform can select the “Pay in VAULT” option on each coin you host with us to use VAULT coin for payment and get a 50% discount on hosting, and holders of many coins or nodes can purchase a Prime subscription (the current limit is 40 nodes per account) to further reduce hosting costs.
Prime Hosting
https://my.vault.investments/dashboard/prime/
VAULT Coin Packs
https://my.vault.investments/coins/vault/coin-packs/
VAULT on Exchanges
https://www.southxchange.com/Market/Book/VAULT/BTC
https://crex24.com/exchange/VAULT-BTC
SLDS upgraded to the new collateral (4000), all masternodes restarted https://my.vault.investments/coins/slds/
PGO updated to v3.0.0, all masternodes restarted https://my.vault.investments/coins/pgo/
VAULT Coin’s Market Performance This Week
VAULT cryptocurrency has held strong above $5 this week. We saw a high of $5.51 on Tuesday and a low of $4.97 also on Tuesday. We finished out the week at $5.39.
We saw an average of $1,643.67 traded daily. This maintains us above the $1,500 daily level and is slightly below last week’s number of $1,821.80.
VAULT coin trades on CREX24 and SouthXchange, and we continue to see a majority of trading now occurring on SouthXchange.
The Minimum Guaranteed Price https://vaultility.vault.investments/ buy wall of 1,000 VAULT at 10,500 Satoshi was maintained with 64.12 VAULT above the wall on SouthXchange. There is still a smaller buy wall of 200 VAULT on CREX24 with 12.58 VAULT above the Minimum Guaranteed Price (MGP) of 10,500 Satoshis.
The current price is 10,830 Satoshi (0.00010830 BTC) on Crex 24 and 11,172 Satoshi (0.00011172 BTC) on SouthXchange.
In addition to the platform, products, use, and demand, VAULT continues to benefit greatly from being tied to Bitcoin. This week we saw BTC have a nice gain of 8.2%.
Bitcoin (BTC) Update
Sticking with the theme of how to choose the right coin and blockchain to invest in, I wanted to highlight some events that took place this week.
You may have seen that Solana had to shut down the operation of their blockchain this week for several hours. How can a blockchain quit functioning and be shut down?
The answer is administation keys. What are these and why are they dangerous? If a blockchain has administration keys, then the administrators have free ability to modify or shut down the blockchain whenever they deem it appropriate. This means that if you place your life savings in this blockchain, and it is doing well today, then tomorrow the admins could shut the chain down, so it ceases to function, and you lose everything. Fortunately, this would be unlikely, but it is a possibility and was highlighted by Solana this week.
Another concern we see with some cryptos and blockchains was highlighted by Coinbase and Celsius. The SEC can at any time shut a coin, token, blockchain or even a trading platform down if they deem it an illegal security.
The first thing we need to do is understand the meaning of a security. The Howey test is the traditional definition that has been used. Chairman Gensler further outlined which coins and platforms are likely to be examined as securities below:
If the coin or platform you are looking to invest in is based out of the United States, and they are paying you interest on coins you hand over to their platform, and you don’t have control of your private keys, then you may want to consider another investment.
Time will tell if this will be applied to cryptocurrency coins and tokens based in other countries. Now you know why so many exchanges that provide interest on investors’ coins held on their platforms ban citizens of the United States.
VAULT is not based or operating in the United States. In addition, VAULT doesn’t generate or pay you interest from the work they are doing. You are earning your own rewards by owning a percentage of a VAULT masternode. The rewards are generated by the masternode code and not from the VAULT team making investments on your behalf.
Cryptocurrency News This Week
Bitcoin Using More Energy Than Pakistan
Bitcoin’s Annual Energy Use Has Already Passed 2020’s: Research
Forget El Salvador, Bitcoin Could Go Global
Bitcoin Can Become The Global Reserve Currency, Says SkyBridge’s Anthony Scaramucci
Big Changes in South Korea
Over 60 South Korean Crypto Exchanges to Shut Down Next Week
Another Week, Another Hack
Another DeFi Hack: $3M in ETH Stolen From SushiSwap’s Token Platform
Shibu Inu Joins The Other Dog Picture Coin on CoinBase
Shiba Inu (SHIB) Explodes 44% to a Monthly High Following a Coinbase Listing
NFTs and Insider Trading
OpenSea’s Head of Product Is Out Following Accusations of NFT Insider Trading
OpenSea’s Product Lead Accused of Using Insider Knowledge to Profit From NFTs Drops
Decreasing Mania? NFT Trading Volumes Have Started to Decline
ETH is Burning
Over $1B Worth of ETH Burned in the Aftermath of Ethereum’s London Upgrade
Africa Loves Crypto
Crypto Adoption in Africa Surged 1,200% in 2021, Chainalysis
Solana Sky is Falling…..Nevermind
Solana is Down For Hours: Validators Planning Network Restart (Update: Resolved)
Nice Try Litecoin
Walmart Adopts Litecoin, or Not: Crypto Twitter Reacts to the Fake News with Hilarious Memes
VAULT Crypto Portfolio Tracker
I wanted to give you a running tally of what you could potentially be earning with VAULT. The example I’m using is holding 1 CRYO VAULT masternode with 0.1 BTC invested in the BTC% program (check it out here).
I wanted to show you what kind of returns you could be earning weekly and cumulatively.
One VAULT masternode of 1,000 VAULT with current ~25% ROI generated 4.76 VAULT blockchain rewards this week for a total of 1,127.11 VAULT over the past 25 weeks if you compounded your daily rewards with 100% reinvest on the VAULT platform. Total is now 1,127.11 VAULT. The total dollar value earned is $685.12 at VAULT’s current price of $5.39 (0.00011172 BTC). The total BTC value earned at VAULT’s current price is 0.014200.
Investing 0.1 BTC in the BTC% program earns you 11% APR, giving you a weekly return of 0.00021089 BTC. Over the last 25 weeks, this would be worth 0.005272 BTC with a current value of $254.83.
The current total value of your potential returns over the past 24 weeks would be $939.95 or 0.019472 BTC.
We Are Here to Help You DYOR (Do Your Own Research)
I hope this week’s update on how to choose a crypto coin, token or blockchain has been helpful.
If you have any questions please feel free to post or contact me Bobtilladhun (rmcowherd@icloud.com) or any team member on VAULT Investments Discord server:
Ian|VAULT.Investments#4786
Jules|VAULT.Investments#7692
CM| VAULT.Investments#4777
Flowguy81#9906
cryptosmith#9920
Bobtilladhun#8522
fivedaywait#7565
Harris|BITBUZZ#0043
VAULT Global Ambassadors
We want to again invite people to become a VAULT Ambassador. It is a great way for us to spread the great news of VAULT investments to everyone around the world. If you would like to join our growing international community, please click here for more information.
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Long Miguel#6762 — Vietnam
https://my.vault.investments/coins/vault/coin-packs/
https://bitcoin-interest.vault.investments/
This is not financial advice. VAULT Investments provides a service to its clients and is not responsible for projects listed or featured in its platform or ecosystem. The views and opinions in this update are my views alone and are not necessarily those of VAULT investments or its administration. Users should always DYOR. Invest at your own risk.