Cryptocurrency

Expert Seeks Increased Adoption of Cryptocurrency

Published

5 years ago

July 4, 2019

Expert Seeks Increased Adoption of Cryptocurrency

The Chief Executive Officer of Kurecoinhub, Mr. Tega Abikure, an expert in Blockchain and digital currency, has advised the federal government and governments of African countries to consider the adoption of Bitcoin as a currency for storage of national reserves.

According to him, “Cryptocurrencies are changing the face of the global financial world and bitcoin is at the forefront of this. African countries can benefit from its acceptance and value-addition by keeping some foreign reserves in the currency. If adopted, this can help to improve the finances of African countries.”

Abikure who spoke with journalist in Lagos on the benefits of digital currency like Bitcoin, said there was need to consider a switch to bitcoin as a currency for foreign reserves in view of its global acceptance as a legal tender and also its persistent trade by individual and global corporate bodies.

Abikure, whose firm has launched what has been acknowledged as Africa’s largest Blockchain and Cryptocurrency Project, chided African governments for adopting a sit-and-look posture on cryptocurrency adoption and regulation, at a period when many other countries outside were going ahead to develop a robust cryptocurrency system.

According to him, Africa always tends to be late in adoption of global technologies and systems, adding that the adoption of cryptocurrencies is another area the continent is lagging behind.

He said: “People and nations all over the world are taking this seriously, building viable projects and infrastructures around bitcoin to safeguard their future and that of the nations. But in Africa it seems we are the ones on the far side of major adoption.
“We are waiting for others to finish eating up the good stuffs and leaving for us scrums to live on. We just need to understand that Bitcoin, kurecoin and other highly valued cryptocurrenecies are here to stay and we can only become major stakeholders in this new reality if we can start taking decisive steps now.”

Abikure urged industry leaders on the continent to learn from the countries that were taking decisive steps to secure the future of their nations by taking cryptocurrenices seriously.

He identified some countries such as United States of America, Estonia, China and South Korea as nations that African countries should emulate.

The finance expert also noted that USA had become a global reference point on cryptocurrency regulation and virtually all other nations were looking up to USA to provide directions for others to follow.

He also said South Korea remained a regular host of Bitcoin conferences and has provided a friendly climate for the local Bitcoin community as a way of becoming a global leader in cryptocurrencies.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Bitcoin

Bitcoin Fails to Hold $63,000 Amid Weak Risk Appetite, Growing Selling Pressure

Published

1 day ago

October 8, 2024

Samed Olukoya

bitcoin to Nigerian Naira - Investors King

Bitcoin remains below $63,000 after failing to hold above it over the past two days while Ethereum is also struggling to reclaim $2,440.

The crypto market has been trading sideways since the beginning of this week.

The cautious moves in the crypto market come amid uncertainty over a range of economic and political factors in the US and geopolitics in the Middle East.

Add to that the potential selling pressure that the US government may exert with its permission to sell around 70,000 Bitcoin.

The Supreme Court has allowed the US Marshals Service to proceed with the sale of 69,370 Bitcoins seized from the Silk Road online store, which would be the largest sale of its kind in history. While the nature and pace of this selling is not yet known, it will not necessarily put downward pressure on prices if it is done in over-the-counter (OTC)
transactions, according to Beincrypto.

As for the economic side, in light of the surprise labor market numbers that were much better than expected and Jerome Powell’s hawkish speech, hopes for a rapid continuation of interest rate cuts this year have diminished. While the relatively high rates remain for a longer period and the continued rise in Treasury bond yields will weaken appetite for risky assets in general, including cryptocurrencies.

Whereas, after the hypothesis of a half-percentage point cut at the next November meeting was the most likely, it has now become excluded in the Fed Fund futures market, and the probability of a quarter-percentage point cut has become 87%, according to the CME FedWatch Tool. The remaining 13% is for the possibility of keeping current rates unchanged.

The state of caution may also prevail in the markets in the coming weeks, as we anticipate the presidential elections in the United States, which will begin next month. While the outcome of these elections could cause a structural shift in the crypto industry.

Far away, in the Middle East, markets are still anticipating the nature of the expected escalation in the region, especially regarding the nature of the Israeli response to the unprecedented attack from Iran and the nature of the counter-response. While one of the most prominent scenarios is targeting energy facilities, which would bring inflation back to the forefront, which in turn may require central banks to keep interest rates high.

Cryptocurrency

Will Pump-and-Dump Fun Kill the Meme Coin Frenzy in 2024?

Published

3 weeks ago

September 15, 2024

Temitayo Olukoya

The meme coin market, once dominated by viral hits like Dogecoin and Shiba Inu, is facing a new challenge in 2024: the rise of pump-and-dump schemes masquerading as community-driven fun.

These events, organized on social media platforms, encourage participants to collectively buy a meme coin, inflating its price before early investors quickly sell, leaving many with heavy losses.

While pump-and-dump schemes are not new to crypto, 2024 has seen them take on a new form in the meme coin space, branded as “fun events” or “pump parties.” Communities treat these schemes as a kind of joke, with memes about losing money or rockets crashing back to Earth, softening the blow of financial risk. However, this emerging trend has begun to erode trust in meme coins.

Meme coins, by nature, thrive on internet culture, hype, and community sentiment. Their value is rarely tied to any real utility, making them particularly susceptible to manipulation. As more pump-and-dump schemes surface, many fear that investors, especially newcomers, may begin to associate all meme coins with high risk and fleeting value.

This shift could mark the beginning of the end for the meme coin craze. Established tokens like Dogecoin may survive thanks to their strong communities, but lesser-known meme coins may struggle to gain traction as pump-and-dump events increase skepticism.

The future of meme coins depends on whether the community can move past these schemes and find more sustainable ways to build value—or risk being seen as nothing more than a fleeting, high-stakes game.

Cryptocurrency

Telegram Mini Apps Ushers in a New Era For Airdrop Hunters

Published

3 weeks ago

September 15, 2024

Temitayo Olukoya

Telegram, a social media platform has taken center stage with the rise of a new wave of mini-apps designed specifically to streamline the airdrop process, thereby gaining an increase in momentum within the crypto communities.

The crypto industry had always been about innovation, but airdrops—free token giveaways by blockchain projects—had long been plagued by inefficiencies. Manual distribution was slow and error-prone, scammers frequently exploited the process, and users often struggled to keep track of the numerous airdrops they were eligible for.

However, Telegrams’ simple user interface allowed projects to upload their token pools and define criteria for participants, such as holding specific tokens or completing tasks like following social media accounts, playing games, linking crypto wallets and others for airdrop eligibility.

List of Airdrops for Telegram Users

Fintopia
Blum
X Empire
PocketFi
Hamster Kombat
Hot
Tomarket
OGC
Sidekickfan
Major
TonxDao
Notgram
Memefi
Agent 301
Zesh
Acki Nacki
Vertus
Tapswap
Catizen
Cats
TonStation

Catizen Airdrop
Catizen is set to airdrop its tokens on September 20, 2024. The game focuses on AI-powered cat characters, offering users a play-to-earn experience with dynamic AI interaction. This anticipated airdrop event is expected to increase the game’s player base significantly.

Hamster Kombat Airdrop
Hamster Kombat will have its airdrop on September 26, 2024. As one of the most popular Telegram-based battle games, players engage in competitive combat using unique hamster characters. Don’t miss out on this exciting airdrop before the official listing.

Cats Telegram Airdrop
The Cats Telegram project has announced its airdrop event for the end of September 2024. The game features feline characters, and players can earn tokens through engaging challenges and missions. With an enthusiastic community, the airdrop is expected to boost user engagement.

Major Airdrop
Major, a rising star in the play-to-earn arena, will conduct its airdrop on October 1, 2024. Players can expect immersive gameplay with various missions and rewards. This airdrop will precede its highly anticipated listing, so be sure to participate.

TonStation Airdrop
TonStation, known for integrating the TON blockchain into play-to-earn mechanics, will hold its airdrop on October 6, 2024. The game offers players a chance to earn tokens through interactive station-building tasks. Secure your tokens during this airdrop event!

MemeFi Airdrop
MemeFi’s airdrop will take place on October 9, 2024, offering users a chance to earn valuable tokens. This Telegram-based game merges memes with financial strategies, creating a fun yet profitable play-to-earn experience. Don’t miss this unique opportunity!

X Empire Airdrop
X Empire, known for its competitive empire-building gameplay, will airdrop tokens on October 15, 2024. Players can expect an engaging experience with strategic challenges. This airdrop precedes its listing, offering players an early chance to grab in-game assets.

TapSwap Airdrop
TapSwap is set to host its airdrop in mid-October 2024. This game allows players to earn tokens through quick, tap-based challenges. With its rising popularity, the airdrop is expected to attract a large number of participants. Stay tuned for the exact date!

PocketFi Airdrop
PocketFi’s airdrop is scheduled for Q4 2024. This play-to-earn game combines DeFi features with fun, interactive missions. Players can earn tokens through various in-game activities. The exact airdrop date will be announced soon, so keep an eye out for updates.

Blum Crypto Airdrop
Blum Crypto is set to conduct its airdrop in Q4 2024. This game blends blockchain technology with immersive gameplay, offering players the chance to earn tokens. The airdrop is anticipated to draw significant interest from the Telegram gaming community.