Issue 11 – 2023 Crypto Live Casino News – Are new coins the future of crypto?

The crypto market is still on the rise and shows no signs of slowing down. It this rally going to continue? Or will we see a major crash catching investors off guard? (Photo by Kylie Anderson on Unsplash)

With the introduction of Bitcoin in 2009, there were strong assertions that cryptocurrencies would cause monetary systems to change and result in more inclusive financial systems.

It is also the most popular crypto used by players who gamble at Curacao online casino, which you will find on the best live casino guide.

Despite advancements in blockchain technology, this promise hasn’t been fulfilled over the last 15 years: hardly any cryptocurrency has become a popular means of exchange or a trustworthy store of value. Thus, blockchain, a potentially revolutionary technology, has been abused by dishonest people or used primarily for dangerous speculation.

What is the cryptocurrency industry’s “killer crypto?” These days, insiders contend that stablecoins are the ones that mirror the value of fiat currencies, like the US dollar. The irony is that the development of cryptocurrencies was initially a protest against fiat money and the possibility that inflation would devalue it.

However, this so-called “best” use of cryptocurrency is a digital version of fiat money with even more drawbacks – the same risk of depreciation and a higher risk of a run than bank deposits because stablecoins lack access to central banks as lenders of last resort or deposit insurance. There is also less transparency regarding the supporting assets, flawed issues with money laundering when stablecoins are used for illegal purposes, and no nominal return.

As a result, stablecoins’ numerous risks and restrictions outweigh any potential advantages they may have, such as speed, portability, and privacy. Furthermore, stablecoins might become obsolete if larger central banks issue safer digital currencies.

Flatcoins… what are they?

Secure currencies, also known as “flatcoins,” are being created daily and may be a possible alternative. Unlike most stablecoins, these are purportedly tied to a single asset. Instead, flatcoins are backed by a variety of investments that are designed to generate returns that are consistent with a target, like keeping up with inflation. The value of the underlying asset basket is reflected in flatcoins. Therefore, a flat coin can be profitable by hedging against other risks and also perform a social good by aiding investment in assets that ease or attempt to offset the effects of climate change.

A flat coin is a safe form of money supported by stable assets and low-volatility financial instruments. It has a positive yield and can be used as a global payment method, unlike fiat, which has a zero percent return.

To safeguard national currencies, reduce risk, and promote financial transparency, reforming the current monetary and currency system is necessary. The future could be flatcoins…

This week’s report will look at popular cryptocurrencies to see where they may be headed as the year ends.

Last Month’s Report: See Issue 10 – 2023 Crypto Live Casino News for last month’s prices. Until them, although this is issue 11 of the year, we didn’t make it to issue 12. We’ll be back in January with Issue 1 – 2023 Live Casino News to see how the market has moved.

Crypto Price Watch

(Issue 11 – December 2023 Crypto Price Update News for Live Casino Players)

Bitcoin (BTC) broke through the psychological barrier of USD 43,500 as the U.S. Federal Reserve continued to freeze interest rates. Also, the anticipation of approving a Bitcoin spot ETF pushed up the market. While the BTC ETF is good news for the cryptocurrency industry, a few problems/risks could arise from the launch. The issuers of Bitcoin ETFs need to have BTC to hold in their ETFs. Scarcity may be an issue. The other problem is the ‘basis trade,’ which is the price difference between the spot price and futures contracts. When institutional investors directly access BTC (from ETF products), the basis will narrow, reducing profits. BTC is trading at USD 43,641; the next significant resistance level is USD 45k.

Bitcoin Cash (BCH) – The hype of the Bitcoin ETF has not pushed up Bitcoin Cash as much as expected. This trend has shifted focus from BCH to other coins in the same space. BCH hit a 2023 high of USD 269 in October but has pulled back to its current price of USD 229. This bearish trend is a combination of different indicators and suggests that the bearish run of BCH isn’t over yet.

Litecoin (LTC) – Litecoin has amassed over 1m daily transactions, but the price has remained unchanged. Almost 90% of these transactions were less than USD 1 and first-time addresses, attributed to 300K new ordinals on their network. LTC is up 5% since the last report and is currently trading at USD 69.94.

TRON (TRX) – TRON continues to make incremental gains month after month. The coin is up 88% in 2023 and 7% since the last report. The blockchain technology innovator has announced a partnership with Blockchain.com Pay. This payment gateway will enable Web3, gaming, and retail sectors to provide more crypto services. The top services will integrate 40m users to reduce transaction time, fraud prevention, compliance, and customer support. The one-click system (through a widget) will streamline transactions and reinforce TRX’s commitment to blockchain technology. TRX is trading at USD 0.10 with solid resistance at USD 0.11.

Ripple (XRP) – Despite numerous court challenges and setbacks, XRP has grown 81% in 2023. The company has faced many trials but has had some good news recently. The Central Bank of Ireland officially included XRP in its registered Virtual Asset Service Providers list. This will enable XRP to extend its services across Europe under the Markets in Crypto Assets Regulation (MICA) organization. XRP’s global strategy has achieved other objectives, such as a Payments license In Singapore and approval of XRP within the Dubai IFC. The coin is up 5% in the last month and is currently trading at USD 0.61.

Ethereum (ETH) – ETH has started to come off after hitting a yearly high of USD 2,359 two weeks ago. The coin has lagged behind BTC and other strong altcoins. Critics of ETH are posting on social media that their fees are not competitive with similar chains. BTC has the most expensive fees (approx. USD 32, with ETH second (approx. USD 11) and Solana consistently under USD 0.01. The same critics state that Solana overtakes ETH in DEX, stablecoin, and NFT trading. ETH is currently in a bearish trend and is trading at USD 2,211.

Disclaimer: This is purely a guide to the current crypto rates and not expert advice. It is an opinion and informational piece only and is not intended as trading advice. Please only use this as a guide and seek further investment advice if you plan to invest in the crypto market.