CrypCarib, Salinja Aboustraat (2024)

31/05/2024

🗯 PYUSD now on Solana! ⤵

"PayPal USD (PYUSD) is now available on Solana, the company announced at Consensus 2024 in Austin, Texas. The news brings the Solana network’s speedy finality and low cost to PayPal’s trusted stablecoin product, allowing users and developers to experience low-cost payments that settle in seconds, not minutes, hours, or days." is stated on the official website of Solana!

“The Solana network’s speed and scalability make it the ideal blockchain for global financial institutions, like PayPal, to create new payment solutions that are accessible, cost-effective, and instantaneous,” said Sheraz Shere, GM of Payments at the Solana Foundation. “Continued adoption from industry giants like PayPal is crucial for the next generation of fintech innovation.”

31/05/2024

📊 Market update vs a year ago! 📊

The overview on the left is from exactly one year ago. The significant price differences, especially the remarkable increases, highlight how much can change in a year.

For instance:

🟢 Bitcoin (BTC) price increased by 147% (from $27,734.33 to $68,465.71).

🟢 Ethereum (ETH) price increased by 97% (from $1,904.73 to $3,751.26).

🟢 BNB (BNB) price increased by 91% (from $312.19 to $595.29).

🟢 Solana (SOL) price increased by 686% (from $21.21 to $166.71).

These percentage increases emphasize the dynamic nature of the cryptocurrency market.

Can you imagine how much money you could've made if you'd invested just one year ago? Start today with CrypCarib! 🚀

31/05/2024

📊 What is the PYUSD? ⤵

PayPal USD (PYUSD) is a stablecoin issued by PayPal, pegged 1:1 to the US Dollar. It enables seamless, fast transactions within the PayPal ecosystem and can be used for payments, sending and receiving funds, and potentially trading on cryptocurrency exchanges. PYUSD combines the stability of a dollar-backed asset with the convenience and reach of PayPal's platform.

24/05/2024

🗯 SEC approves Eth ETF! ⤵

In a landmark decision today, the U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) Exchange-Traded Fund (ETF). This approval marks a significant step towards mainstream acceptance of cryptocurrencies. The ETF will allow traditional investors to gain exposure to Ethereum without needing to directly purchase or store the digital asset, potentially increasing market liquidity and demand. The move is expected to boost investor confidence and pave the way for broader adoption of Ethereum in the financial markets.

Some benefits the approval of an Ethereum (ETH) ETF by the SEC are:

🟢 Easier Access: Traditional investors can invest in Ethereum without needing to buy or store it directly.
🟢 Legitimacy: Signals regulatory acceptance and boosts confidence in Ethereum.
🟢 Market Impact: Likely to increase demand, potentially raising Ethereum's price and market liquidity.
🟢 Transparency: Ensures greater oversight and reduces concerns about fraud.
🟢Convenience: Simplifies the process of investing in Ethereum, making it similar to buying stocks.

24/05/2024

📊 What is the SEC? ⤵

The Securities and Exchange Commission (SEC) is a U.S. federal agency responsible for protecting investors, maintaining fair and efficient markets, and facilitating capital formation. It oversees securities exchanges, brokers, dealers, investment advisors, and mutual funds to ensure transparency and prevent fraud.

Regarding cryptocurrencies, the SEC plays a crucial role in regulating digital assets to protect investors and maintain market integrity. This includes determining whether certain digital assets qualify as securities and are thus subject to federal securities laws. The SEC also provides guidelines and enforcement actions to address fraud and market manipulation in the crypto space. As the crypto market evolves, the SEC continues to develop a regulatory framework to balance innovation with investor protection.

08/06/2023

🗯 'J.P.Morgan' starts using Blockchain! ⤵

J.P.Morgan, the largest investment bank in the world, seems to be slowly but surely opening up to the world of crypto and blockchain. While the attitude of the institute towards crypto does not seem to be completely united yet, it seems to have become increasingly convinced of the possibilities of blockchain technology. In 2020, it already launched its Onyx business line, a blockchain platform that reflects the banking giant's commitment to innovation.

J.P.Morgen has now entered into a partnership with six Indian banks to enable transactions in US dollars via the blockchain.

Dollar transactions on the blockchain
On June 5, Bloomberg wrote that the powerhouse of the traditional financial world has entered into a relationship with HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and J.P.Morgan's own banking unit in Gujurat (India).

Starting today, the investment bank will launch a pilot project in collaboration with these Indian banks in the coming months with the aim of completing dollar transactions in real time 24 hours a day instead of within a few days and only on weekdays.

Currently, transactions between banks can take several hours and it is also not possible to carry out transactions on weekends or public holidays.

The headquarters of the project is the Gujarat International Finance Tec-City, or GIFT City. It is India's attempt to establish an international financial hub that can compete with Singapore and Dubai, among others.

08/06/2023

📊 What is Supply? ⤵

The term 'Supply', or 'Circulating Supply', refers to the total number of coins or tokens of a particular cryptocurrency that are currently in public circulation and available for trading. It represents the portion of the total supply that is actively being bought, sold, and held by individuals and entities.

The circulating supply is an important metric as it provides insight into the market dynamics and the overall value of a cryptocurrency. It helps determine factors such as market capitalization and price per coin or token. Market capitalization is calculated by multiplying the current price of a cryptocurrency by its circulating supply.

The circulating supply can change over time due to various factors. For example, new coins or tokens may be minted or created through mining or staking rewards, or existing coins may be burned or destroyed. Additionally, coins may be locked or held by development teams, foundations, or other entities, reducing the amount available for trading and affecting the circulating supply.

It's worth noting that circulating supply is different from the total supply, which refers to the maximum number of coins or tokens that will ever exist according to the cryptocurrency's protocol. The total supply takes into account both the coins currently in circulation and those that are locked, reserved for future distribution, or otherwise unavailable for trading.

By analyzing and comparing the circulating supply of different cryptocurrencies, investors and enthusiasts can gain insights into factors such as scarcity, liquidity, and potential price impact based on supply and demand dynamics within the market.

30/05/2023

🗯 'Tether' is going to mine BTC! ⤵

'Tether', the largest asset-backed stablecoin in the crypto market, is going to mine Bitcoin! The company made this announcement earlier today.

The company, best known for the USDT stablecoin worth $83 billion, wants to start mining BTC in Uruguay. Tether is taking a new path with this. The ultimate goal is to become a “global technology leader” committed to “innovating energy and the future of crypto.”

That Tether chooses Uruguay as the country where it starts its bitcoin mining adventure may be unexpected. It is, after all, an American company. However, Uruguay reportedly generates 94% of its electricity from renewables. Those sources would mainly be solar energy and windmills.

30/05/2023

📊 What is Volume? ⤵

Cryptocurrency trading volume is measured in terms of the number of tokens or coins that are bought and sold on exchanges within a specific time frame, usually 24 hours. It's important to note that volume can refer to the number of tokens or coins traded, or it can refer to the total value of those tokens or coins traded. For example, if one Bitcoin is worth $10,000 and 100 BTC are traded in a day, the trading volume would be $1,000,000.

High trading volume in a cryptocurrency can be seen as a positive sign by some investors because it suggests that there is a lot of interest in that currency and that it may be more liquid and easier to buy and sell. However, high volume can also be seen as a negative sign if it is due to a lot of people trying to sell off their holdings. In this case, it could indicate that the currency is losing value or that there is a lack of confidence in its future prospects.

On the other hand, low trading volume can be seen as a negative sign by some investors because it suggests that there may be little interest in the currency and that it may be harder to buy and sell.

16/05/2023

🗯 ChatGPT goes Crypto! ⤵

The man behind ChatGPT and the CEO of OpenAI, Sam Altman, may be on the verge of raising as much as $100 million for a crypto project called Worldcoin. This is a relatively unknown cryptocurrency that should counter the threat of advanced artificial intelligence (AI), the Financial Times reports.

What is the relationship between ChatGPT and Worldcoin?
Worldcoin was founded in 2019 by Sam Altman and Alex Blania. Since then, Worldcoin has basically continued to operate under the radar, but has been working hard behind the scenes to bring in major investors. Nevertheless, Worldcoin had gigantic ambitions from day one.

The plan is to use revolutionary eye-scanning technology to set up a global identification network. This would then give you access to your own currency that can be used all over the world: Worldcoin.

This identification system must ensure that a distinction can be made at all times between robots and real people in the online world. This, of course, in the context of a growing fear of ever-advancing AI technology. That the CEO of OpenAI cooperates so closely with this is of course at least interesting.

More investors are pouring in
Meanwhile, Worldcoin has already gained support from big names in the financial world, including Digital Currency Group, Coinbase, LinkedIn co-founder Reid Hoffman, and Andreessen Horowitz.

Sam Altman is now in talks to raise another $100 million for Worldcoin, according to the Financial Times. According to the report, these talks are already at an advanced stage. If successful, more than $200 million will have already been invested in the ambitious project.

Worldcoin is currently still in beta, but the company is now preparing to roll out its own blockchain protocol and actually register transactions in the next six weeks.

16/05/2023

📊 What is a Market cap? ⤵

A Market cap, is short for "market capitalization. The market capitalization of a cryptocurrency is calculated by multiplying the current market price of one unit of the cryptocurrency by the total number of units in circulation. For example, if a cryptocurrency has 10 million units in circulation and the current market price of one unit is $100, then the market capitalization of that cryptocurrency would be $1 billion.

Since the value of cryptocurrencies can be extremely volatile and can fluctuate rapidly, the market cap of a cryptocurrency can also change very quickly. The market cap of a cryptocurrency is often used by investors to assess the overall size, popularity, and potential growth of a particular cryptocurrency.

It's important to note that market cap should not be the only factor that investors consider when evaluating a cryptocurrency. Other factors such as the technology behind the cryptocurrency, the team behind the project, and the overall market conditions should also be taken into account.

09/04/2023

🗯 Almost time for Ethereum 2.0! ⤵

The long awaited Ethereum upgrade 'Shapella' is scheduled for the 12th of April!

As you may know, since September 2022, Ethereum switched from Proof-of-Work to Proof-of-Stake. However, since then it was not yet possible for strikers to unstake their Ethers. Right now there are over 18 million Ethers tied up in the Proof-of-Stake contract, but that will soon change:

If everything goes according to plan, after the Shapella update, it will be possible to release part of your Ethereum from the staking contracts.

It is a positive development for the platform, as it is obviously important that strikers have the option to untie and sell their Ethereum if they see fit.

But the update can also potentially create an enormous selling pressure on the price. It is not yet possible to unlink all your Ethers from the start, but all 1.1 million Ethereum received so far as a reward for staking can be sold.

At the current price of about $1.850 for Ethereum, that creates a potential selling pressure of $2 billion on the price. Of course, that doesn't mean that everyone will immediately start selling, but it is certainly a point to keep an eye on.

After all, people have been waiting for this moment for a long time, so it is certainly possible that some of the strikers will make a sale. Especially since the prices have risen considerably in recent months and some people may want to grab some profit.

Limited impact
At the moment it is arranged that partial withdrawals from the Proof-of-Stake contract take approximately 5 to 6 days. People who want to withdraw their full balance have to wait 3 weeks to 4 months for their Ethereum.

In that sense, the protocol is designed in such a way that it is not possible to flood the market with supply in the short term. That makes the market likely to absorb the selling pressure because it's spread out evenly over a longer period of time.

09/04/2023

📊 What is a Stablecoin? ⤵

A stablecoin is a type of cryptocurrency designed to maintain a stable value relative to a particular asset, such as a fiat currency (e.g., US dollar), a commodity (e.g., gold), or a cryptocurrency (e.g., Bitcoin). Stablecoins are often used as a medium of exchange or a store of value, just like traditional currencies.

The stability of a stablecoin is typically achieved through various mechanisms such as backing the coin with a reserve of the underlying asset, implementing an algorithmic mechanism to adjust the coin's supply based on demand, or using a combination of both.

Stablecoins can be useful in reducing volatility in the cryptocurrency market and facilitating transactions that require stable prices. They also offer a way to access cryptocurrency markets without having to deal with the volatility associated with other cryptocurrencies.

25/03/2023

🗯 Major US exchange Nasdaq is set to launch bitcoin custody service ⤵

Nasdaq, the US exchange operator, plans to start managing crypto for institutional investors at the end of the second quarter. This is according to a report from Bloomberg. Nasdaq reportedly announced its intentions in September as it appeared to be responding to demand from institutional crypto investors.

Nasdaq will initially focus on the big boys within the crypto industry: bitcoin (BTC) and ethereum (ETH). It will not limit itself to just these two coins in the future, but it is clear that it does not want to take too many risks with altcoins for now.

Since the collapse of FTX, the crypto industry has taken a major blow to confidence. The entry of big and reliable names like the Nasdaq can therefore greatly boost confidence and the overall reputation of the industry.

25/03/2023

📊 What is an Exchange? ⤵

A crypto exchange is a digital platform that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and other digital assets. It is similar to a stock exchange, but instead of trading stocks, users trade cryptocurrencies.

Crypto exchanges provide a way for users to convert one cryptocurrency to another, as well as to trade cryptocurrencies for fiat currencies like USD, EUR, or other digital assets like stablecoins.

Some exchanges operate as centralized entities that have control over the funds and the trading process. On the other hand, decentralized exchanges (DEXs) operate as peer-to-peer networks without a central authority. Instead, DEXs rely on smart contracts to facilitate trades between buyers and sellers.

Regardless of the type of exchange, users can typically create an account, deposit funds, and begin trading cryptocurrencies. However, different exchanges may have different fees, trading pairs, and features.

21/03/2023

🗯 Gold price rises to all time high, what does this mean for the economy and Bitcoin? ⤵️

According to various sources, gold has hit a new all-time high today. A kilogram of gold is now worth $64,000 (60,000 euros). With this, gold makes a strong argument that investors are looking for a safe haven to store value in, for a way out of the current banking crisis.

Gold has been a valuable and sought-after material for centuries due to its beauty and durability. But the current rise has little to do with outward appearances, but everything to do with the stability that gold provides during economic turmoil. During periods of inflation, political turmoil and economic uncertainty, gold is believed to be a safe haven for investors looking for stable value for their money.

What has this to do with Bitcoin?
Bitcoin is increasingly considered a safe haven asset, just like gold, because it shares some key features that gold shares.

First, like gold, there is a limited supply of Bitcoin. The number of Bitcoins that can be in circulation is limited to 21 million. This means that inflation cannot occur as with traditional currencies, where central banks can print more money and thereby reduce its value.

Second, Bitcoin is decentralized, meaning there is no central authority in control of the currency. This makes it less vulnerable to political and economic instability that can occur in certain countries or regions.

The third reason is that the blockchain offers a high degree of security and transparency. All Bitcoin transactions are recorded and verified by a network of computers, so coins cannot be spent twice.

21/03/2023

📊 What is Bitcoin? ⤵

Bitcoin (BTC) is the first and most famous Cryptocurrency in the world. Bitcoin has its origins on August 18, 2008, when the domain www.bitcoin.org was registered. Later that year, on October 31, the document "A Peer-to Peer Electronic Cash System," authored by Satoshi Nakamoto, was posted to an encrypted mailing list. It described methods in detail, based on the peer-to-peer network (without the intervention of a third party). In other words, "a system for electronic transactions without relying on trust", see earlier post DeFi.

However, to this day it is unknown who Satoshi Nakamoto is, or who is behind this pseudonym. We do know that Satoshi Nakamoto is the author of the Bitcoin whitepaper and thus the founder.

On January 3, 2009, the first genesis block of Bitcoin was mined by Satoshi Nakamoto, earning him 50 Bitcoins. On May 22, 2010, the first documented purchase using Bitcoin took place, namely two pizzas for 10,000 BTC. Since then, nearly 814+ million Bitcoin transactions have been made to date (March 20).

At the moment there are approximately 18,954,275 bitcoins in circulation. This number can increase to a maximum of 21 million Bitcoin through Mining. However, it is likely that 20% of all Bitcoin has already been lost. Due to lost passwords, lost hardware wallets or people who have passed away.

21/03/2023

📊 What is DeFi? ⤵️

DeFi is an abbreviation for Decentralized Finance. To properly explain DeFi, in this post we will first look at our traditional economy. Different currencies, such as the Euro, the Dollar or the Pound, have been created to make it easier to exchange services and products between parties.

To use money as a medium of exchange, there must be faith and trust in the money. We must be able to trust that money will not lose its value overnight. This could happen, for example, because governments/banks suddenly print a lot of money.

In addition, a bank is used to store the money. A bank manages your money, which often involves costs, especially with larger amounts of money. Again, we have to trust that you can withdraw your money, or pay with it, whenever you want. In short, our current system is built on trust and often involves intermediary partners, such as a bank.

The goal of Decentralized Finance (DeFi) is precisely to create a new financial system. A public system, without the intervention of a central party, such as a government or a bank. This is based on the principle: "Don't trust, verify".

In one of the coming posts we will take a closer look at how Decentralized Finance, DeFi, works.

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