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Coinbase CEO Brian Armstrong has voiced concerns over the lack of regulatory clarity in the United States, a development that has fed into increasing questions about the future of cryptocurrencies in the country.
But how might this regulatory ambiguity affect the selection of the best cryptos to buy now?
Speaking at a London-based fintech event, Armstrong suggested the company might consider relocating if the situation doesn't improve.
He emphasized the potential of the U.S. as a significant market for cryptocurrencies, but the absence of clear regulations is proving to be a hindrance.
Meanwhile, Coinbase's stock experienced a 4.19 % decline on Wednesday as cryptocurrency values weakened.
SEC Chair Gary Gensler defended the regulator's measures against crypto companies during a House Financial Services Committee meeting on Tuesday.
Gensler stated he had never seen an industry with such noncompliance with laws enacted by Congress and repeatedly upheld by the courts.
While Republicans echoed the concerns of crypto companies about unclear or imprecise regulations, several Democrats commended Gensler's efforts to increase enforcement actions, particularly after the FTX collapse in November.
In the meantime, cryptocurrency price movements have been fluctuating.
Bitcoin's price has experienced a downward trend over the past several days, with declines observed on five of the last six days.
As of now, BTC is trading at $28,255, reflecting a loss of 1.96% so far today, hovering just above the $28,000 psychological level.
Despite briefly surpassing $30,000 last Tuesday for the first time in 10 months, Bitcoin has experienced a steady decline. However, the digital asset still boasts a 71.31% increase in value this year.
Ethereum, the second-largest cryptocurrency, also encountered a downturn during the earlier trading session, with its value briefly descending to $1,919.
However, the digital asset has since demonstrated resilience, rebounding to a current trading price of $1,942 and registering a modest gain of 0.33% for the day so far.
Ethereum had been hovering around $2,000 this week, after peaking at $2,139 on Sunday, its highest price since May 15.
The cryptocurrency's shift to a proof-of-stake network, known as the Shanghai upgrade, initially caused its price to exceed $2,000 for the first time in nearly a year. Ethereum has seen a 63% increase in value year-to-date.
Despite the market's recent dip, opportunities for portfolio diversification persist. LHINU, BTT, DLANCE, RNDR, ECOTERRA, TRX, and TARO are some of the best cryptos to buy now based on technical and/or fundamental analysis.
The Rise of Love Hate Inu: A Meme Coin With Utility; One of the Best Cryptos to Buy Now
Cryptocurrency and meme coin enthusiasts are keeping a close eye on Love Hate Inu, a cryptocurrency project that recently secured $5 million in funding.
To mark this achievement, the project has initiated a unique competition that allows participants to cast their vote on a polarizing figure, Andrew Tate, and potentially win a $10,000 prize.
The competition, which is currently off-chain, is simple to join.
Participants can visit the Love Hate Inu website, find the voting section, and choose between "Vote Love" and "Vote Hate."
After casting their vote, they must provide a verified email address. The outcome of the vote will be revealed at a later date.
Love Hate Inu (LHINU) is a cryptocurrency that blends the appeal of meme coins with a vote-to-earn mechanism.
The project's blockchain-based voting system allows users to express their opinions on trending topics, address pressing concerns, and contribute to meme culture while earning tokens.
By staking LHINU tokens, users gain the ability to participate in polls and earn additional tokens for voting.
The project's voting platform is designed to be secure and transparent, thanks to the use of blockchain technology and smart contracts.
These features help prevent fraudulent activities and ensure that the voting process is both verifiable and anonymous.
Carl Dawkins, the new CEO of Love Hate Inu and former head of growth at Tamadoge, expressed satisfaction with the competition's early success.
Dawkins, who is also an advisor to the UK All Party Parliamentary Group on Crypto and Digital Assets, believes the project has significant potential.
Love Hate Inu's presale is gaining traction, with analysts suggesting that it could become the next big meme coin, similar to Dogecoin or Shiba Inu.
The presale, which began at an initial price of $0.000085, is currently underway at a price of $0.000115.
With less than four days remaining until the next scheduled price increase to $0.000125, participants should seize the opportunity before the presale ultimately concludes at $0.000145.
As the digital currency market continues to evolve, projects like Love Hate Inu are capturing attention with their unique value propositions and community-driven approach.
BitTorrent (BTT)
Despite an atmosphere of ambiguity in the digital currency market, BitTorrent token (BTT) has demonstrated resilience by achieving a 22-week peak.
For a brief moment, the file-sharing token's value surged to $0.00000095, outpacing the majority of the top 100 cryptocurrencies.
While Wednesday's precipitous decline in crypto prices contributed to a sense of unease, BitTorrent ultimately settled at $0.00000070 with an increase of 11.11%.
Subsequent fluctuations earlier today saw the token's value reach $0.00000080, only to face resistance and retrace.
The technical analysis reveals that the RSI approached the overbought threshold of 70 before declining, indicating a potential loss of momentum.
Additionally, the ascent was accompanied by low trading volume, hinting at a lack of sellers rather than robust buying activity.
While BTT's all-time high of $0.00000343 was recorded in January 2022, its current valuation is roughly 80% lower.
BTT is currently trading at $0.00000067 with a loss of 4.29% so far today. Its immediate resistance lies between the range of $0.00000068 to $0.00000069, while support may potentially be found at $0.00000067.
On the fundamental front, decentralized exchange Mdex revealed its intention to support BitTorrent starting April 24.
Users participating in the "feedback activity" have the opportunity to earn a portion of a $180,000 prize by utilizing Mdex's features.
BitTorrent has also invited developers to deploy their decentralized applications (dApps) and websites on Awesome BTFS (BitTorrent File System)—a decentralized file storage system designed for web 3.0 applications.
The system leverages peer-to-peer networks and smart contracts to provide scalable and cost-effective data storage.
Notably, platforms such as Yam Finance, Uniswap V3, SunSwap, and TRONScan have already joined the initiative.
As BitTorrent forges ahead, market participants will be closely observing its trajectory in the dynamic world of digital assets.
The Future of Freelancing: DeeLance's Blockchain-Powered Marketplace
DeeLance, a Web3-based employment platform, has successfully garnered $320,000 in funding a mere three weeks after the initiation of its presale.
With only three days remaining in Stage 1, the pace of contributions is gaining momentum. Consequently, the price in Stage 2 will see an increase from $0.025 to $0.029.
DeeLance's appeal lies in its unique approach to the recruitment marketplace.
Utilizing blockchain technology, the platform connects freelancers and recruiters in a highly efficient manner.
Additionally, DeeLance's integration of non-fungible tokens (NFTs) ensures secure ownership of work, setting it apart from competitors like Upwork and Fiverr.
The platform's metaverse integration further enhances its offerings.
Accessible via desktop, the DeeLance metaverse allows users to interact as avatars, purchase land, and engage in business activities.
Notably, the metaverse is not limited to recruiters and freelancers; it is open to all, creating an inclusive ecosystem for commerce.
The $DLANCE token, which runs on the Ethereum blockchain, serves as an access token to DeeLance's ecosystem.
The token's value is derived from its utility in facilitating secure and transparent commercial transactions.
DeeLance's entry into the global recruitment services industry, valued at $761 billion, is timely as businesses seek cost-effective and secure recruitment solutions.
DeeLance's innovative integration of metaverse and NFT technology serves as a pillar of security and transparency in the recruitment industry.
By reducing risks and providing clear regulations for ownership verification and transactions, the platform establishes itself as a highly attractive option for forward-thinking businesses and individuals seeking to thrive in freelancing.
Render Token (RNDR)
Render (RNDR) has seen a recent surge in price, breaking through a crucial resistance point at $2.19, its previous year-to-date high set on February 15.
The token registered an intraday high of $2.196 earlier today. Currently, the price sits at $1.921, with a loss of 0.77% so far today.
Exponential Moving Averages (EMAs) for RNDR are as follows: 20-day EMA at $1.64, 50-day EMA at $1.47, and 100-day EMA at $1.30.
The token is trading above its 20-day, 50-day, and 100-day EMAs, signaling a bullish trend.
The Relative Strength Index (RSI) currently stands at 69.22, approaching the overbought territory, which may indicate a potential price pullback or consolidation in the short term.
The MACD indicator shows the previous day's MACD histogram at 0.060 and the current day's MACD histogram at 0.052.
This slight decrease in the MACD histogram suggests that the bullish momentum may be losing some steam.
Considering the recent price movements and technical indicators, RNDR has immediate resistance at $2.20, followed by a more significant resistance level at $2.50.
On the downside, immediate support can be found at the Fibonacci 0.786 level at $1.916. If the price breaks below this level, the further decline may lead to the next support level of Fibonacci 0.618 at $1.698.
Render (RNDR) is currently in a bullish trend, but the technical indicators suggest that the momentum may be slowing down.
ecoterra’s recycle2earn App Makes It One of the Best Cryptos to Buy Now
ecoterra has successfully raised $2 million in its presale within just three weeks. The app has garnered significant attention from both crypto enthusiasts and eco-conscious investors, making it a one-of-a-kind project in the blockchain space.
The current Stage 4 of the presale is nearing its end, with less than eight days remaining and $450,000 left to be raised.
Given the average daily sales rate of around $200,000, Stage 4 is expected to sell out over the weekend, leaving a narrow window for prospective investors to secure $ECOTERRA tokens at the current low price of $0.0065. Upon reaching Stage 5, the cost of the token will increase to $0.0070.
ecoterra's recycle2earn app is the centerpiece of the project's ecosystem. It will enable users to access three main components: the recycled materials marketplace, the carbon offset marketplace, and the impact profile where ecological actions can be tracked.
The recycled materials marketplace serves as a platform that connects companies seeking recycled materials with recycling businesses offering those resources.
The marketplace uses an advanced filtering system to align materials with buyers' demands, and payments can be made with $ECOTERRA tokens or other cryptocurrencies.
The app also incentivizes ecological actions by leveraging non-fungible tokens (NFTs).
Ecological actions, such as tree planting or plastic removal, count towards milestone achievements that can be represented as NFTs.
These NFTs are tradable, encouraging individuals and companies to contribute positively to the environment.
ecoterra's ecosystem also includes a feature that allows households and companies generating renewable electricity to create an $ECOTERRA token income stream.
The ecoterra team, with its wealth of experience in the recycling industry and the crypto space, is confident in the project's potential.
The beta version of the Recycle2Earn app is planned for launch by the end of the year, with continued development of other pillars of ecoterra.
Investing in ecoterra presents an opportunity to contribute to environmental sustainability while potentially realizing returns.
The project's success thus far suggests that the presale could sell out by the end of April, so interested investors are encouraged to act quickly.
Tron (TRX)
Currently, Tron (TRX) is trading at $0.06547, with a loss of -0.24% so far today.
The 20-day EMA stands at $0.0658, the 50-day EMA at $0.0654, and the 100-day EMA at $0.0643.
As the EMAs are all closely clustered together and the current price hovers around these levels, this indicates a rather neutral trend in the short term.
The market may continue to move sideways until a catalyst emerges to push it in a specific direction.
The RSI is currently at 48.75, which also suggests a neutral sentiment in the market.
The MACD indicator's histogram has decreased from -0.00001 to -0.00006, which suggests that bearish momentum might be increasing slightly.
However, since the histogram values are relatively close to zero, the momentum is not significantly strong in either direction.
The immediate resistance lies in the horizontal resistance area of $0.06762 to $0.06809, while potential immediate support is at $0.06500.
A decisive break above the resistance area could lead to a bullish trend, with the potential for further price gains.
Conversely, a break below the immediate support level might result in a continuation of the bearish trend, with prices potentially moving lower.
The current technical indicators suggest that the market for Tron (TRX) is in a neutral state.
Traders are advised to monitor the market for any potential catalysts or significant changes in the technical indicators, which could signal a new beginning of a trend.
RobotEra: Unleashing Creativity in the Metaverse with Decentralized Gaming
Entering the arena of Web3 gaming, RobotEra is a metaverse project aiming to deliver an engaging world-building experience, comparable to that of The Sandbox.
The project features a world where participants can construct, navigate, and exchange within a vast virtual landscape.
In this digital universe, players assume the roles of robots, allowing them to gather materials, oversee their own territory, and craft robotic allies.
These activities contribute to the collective development of a vast virtual landscape.
The creators of RobotEra are dedicated to producing an immersive gaming experience that encourages collaboration and creativity.
Players have the ability to connect their distinct territories, creating spaces for a variety of events and economic ventures, such as amusement parks, exhibitions, and even musical performances.
Within RobotEra, participants can take part in a diverse array of interactive experiences.
These experiences offer opportunities for creative expression and strategic planning, as players design robots, structures, and territories. Additionally, players can uncover hidden areas that yield valuable prizes.
The metaverse also features a Central City, where players can take on demanding assignments that yield rewards upon completion.
The city includes museum spaces for showcasing creations, as well as venues for socializing with other robotic inhabitants and experiencing the richness of the virtual ecosystem.
RobotEra offers a distinctive gaming experience in which players become robots and explore a vast universe.
They have rights to land and assets, which they can customize and use to develop robotic companions.
These companions, along with land, are represented as non-fungible tokens (NFTs) that can be traded or leased for profit.
The economy of RobotEra is powered by TARO, a cryptocurrency that serves as the ecosystem's native token.
TARO is used for purchasing land, owning robot NFTs, and participating in economic activities.
The token facilitates a play-to-earn model, similar to The Sandbox, but with a broader scope and more accessible asset creation.
RobotEra has already achieved success in its crypto presale, raising over $1.12 million so far.