Category: Cryptocurrency

Polygon price (MATIC) has retraced on its chart as the broader market depicted weakness. Over the last 24 hours, however, the coin has managed to move up by 0.2%.

In the last week, MATIC rallied by over 14%, pushing prices to break past multiple price ceilings. The altcoin is trading sideways on the one-day chart, but the coin is still optimistic.

The technical outlook of the coin has continued to side with the bulls as demand for the altcoin noted an uptick over the past day.

Buying strength also signified an increase, but this reading could be momentary as the bulls could lose steam if demand doesn’t remain consistent.

Polygon price can eye its immediate resistance mark before the bullish steam finally wanes off. With Bitcoin slipping down on its chart, many altcoins have travelled south on their respective charts.

Polygon is still among those altcoins that have displayed the presence of bulls on their chart. It is crucial for Polygon price to trade above the $0.96 mark if it has to maintain its positive price momentum.

Polygon Price Analysis: One-Day Chart

MATIC was trading at $0.92 at the time of writing.

The altcoin has been moving sideways on its one-day chart. Polygon price has made a good recovery in the past week.

However, it is important for the coin to move above its overhead resistance in order for the bulls to regain momentum.

Immediate resistance for MATIC was at $0.96 and, moving past that, the coin could witness another resistance at $0.97 before it touches $1.

If buying momentum fades, the support line for Polygon awaits at $0.86 and then straight to $0.80.

The amount of MATIC traded in the last session noted an increase, signifying that the demand for the coin has climbed up.

Technical Analysis

The buying strength for Polygon registered growth again, showing signs of revival as the demand for the coin fell over the last trading sessions.

This increase in the number of buyers could push Polygon price to trade near its immediate resistance mark.

The Relative Strength Index was positive and it moved above the 60-mark, indicating that buyers still outnumbered sellers substantially.

Polygon price was above the 20-SMA line, signalling that demand for the altcoin surged and that buyers have continued to drive the price momentum in the market.

The other technical indicators of Polygon have pointed out that the bulls are still in control. Although the strength of the bulls has wavered, the chart was still optimistic.

Moving Average Convergence Divergence indicates the price momentum and the strength of the direction.

MACD approved the bulls as it displayed green histograms, which were the buy signal for the altcoin. The Parabolic SAR also points to the strength of the price action.

The dotted lines were below the price candlesticks, which meant that MATIC could experience an uptrend over the next trading sessions.

Featured Image From Mt Pelerin, Charts From TradingView 

Elon Musk reportedly finalized his $44 billion takeover of social media platform Twitter on Oct. 27 and has started his tenure at the company by cleaning house at the upper executive level.

According to sources from multiple outlets, CEO Parag Agrawal, CFO Ned Segal, and head of legal and policy Vijaya Gadde are reported to have been sacked with Musk accusing them of misleading him over the number of spam accounts on the platform.

Agrawal and Segal were “escorted out” of the company’s headquarters when the deal closed according to Reuters sources.

Musk had previously attempted to back out of the deal to buy Twitter in July accusing the company of making “false and misleading representations” regarding the number of spam and fake accounts.

With the deal now closed, Musk looks to change the platform into a bastion of free speech, change the algorithms to prevent political echo chambers, and remove all fake and spam accounts.

In an open letter to Twitter advertisers on Oct. 27 Musk further reiterated his motivations for buying Twitter, saying it is important for the “future of civilization to have a common digital town square” free from political polarization.

Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS

— Elon Musk (@elonmusk) October 27, 2022

He added he purchased the platform “to help humanity, whom I love” and penned his aspirations for Twitter to become the “most respected advertising platform in the world.”

Related: How Crypto Twitter could change under Musk’s leadership

Musk is aware of the “meme-ability” of the prolonged deal and was filmed walking into Twitter’s San Francisco headquarters on Oct. 26 carrying a sink tweeting “let that sink in” while also changing his Twitter bio to “Chief Twit.”

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

On Oct. 20 The Washington Post reported Musk planned to cut up to 75% of Twitter’s staff, but a report from Bloomberg days later disclosed that Musk told Twitter staff on Oct. 26 during his visit that the statements were false and he doesn’t plan to sack any staff. However, those at the top of the Twitter tree have just found out otherwise.

The opportunity to witness Ozzy Osbourne’s onstage shenanigans seldom knocks twice and we’re making sure you get to tick that experience off your bucket list. This year we’re excited to present Decentraland’s Metaverse Music Festival with performances from Soulja Boy on the Limewire Stage, Dillon Francis, CryptoPunk Rapper Spottie WiFi, and, of course, Ozzy himself on the Ozzfest stage. The event will run from Nov. 10 to Nov. 13.

What’s the occasion? This year we are celebrating the upcoming launch of Kraken NFT with this immersive Web3-enabled musical experience, one designed to capture the exhilarating chaos that happens at a physical festival.

We’re also hosting a special afterparty where you can experience an Infinite NFT gallery and claim your limited-edition wearables to celebrate our upcoming NFT marketplace. The festival is free to attend — no tickets, no lines, and no need for a crypto wallet (although it’s handy to have one so you can receive daily rewards and attend exclusive events at the festival).

All aboard the Crazy Train

Set in a cyberpunk city of the future, this year’s festival will feature elaborate virtual stages and musical performances by avatars of beloved artists from around the world.

“Get Low” with Dillon Francis as he opens the festival with a mega club experience in collaboration with one of Decentraland’s gaming districts, Vegas City. The opening will be projected across multiple screens all weekend, making it the very first act festival-goers see when they enter the festival grounds in Decentraland. Attendees will also be able to play Smash the Piñata with Dillon’s infamous piñata sidekick Gerald while chasing him all around this virtual cyberpunk city.

The centerpiece of this year’s festival is our Tower of Babel stage, which will host CryptoPunk Rapper Spottie WiFi, London-based afro and funk band Amadis & The Ambassador, award-winning Chinese group SNH48, and Israeli DJs and producers Erika Krall & Lian Gold. This year we’re expecting to see over a hundred other artists on the metaverse stage, a truly staggering number.

Redefining IP and ownership

​​The Metaverse Music Festival is not just about coming together from around the world to enjoy a uniquely immersive musical experience. It’s also about celebrating the artists and curators who are redefining IP ownership while using artificial intelligence and Web3 to transform the music industry as we know it today.

We believe artists and content creators should be compensated fairly for the enjoyment they bring to our lives. With NFTs, artists no longer have to rely on middlemen in order to engage with their fans and get paid. 

NFTs have the potential to empower artists to monetize their creations in ways they never could before. As a result, the space has seen a tremendous influx of both new and established creators looking to explore this new medium. However, recent market conditions and industry sentiment have led to artists being deprived of the secondary market royalties that were previously paid to them by NFT marketplaces. Kraken NFT will continue to strive for creator-led initiatives that will give artists the opportunity to bypass barriers that have historically prevented them from engaging with their fans directly and monetizing their art.

While real life tours and gigs continue to recover from delays and cancellations, Kraken is gearing up to put on a virtual concert you won’t forget. You won’t need a ticket to join us at this year’s Metaverse Music Festival. Simply save the date by clicking below.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold any cryptoasset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.

Fan tokens are the perfect cryptocurrency investing because they give users access to a variety of fan-related membership advantages, including voting on club decisions, awards, item designs, and unique experiences.

Fan tokens are a type of cryptocurrency intended to provide membership benefits to fandoms of sports teams, bands, and other organizations. Fan token holders are frequently entitled to membership benefits such as access to exclusive content, prizes, experiences, and the ability to vote on club decisions.

Fan tokens are digital assets produced and utilized on an existing blockchain, the most prominent of which are Ethereum and ERC tokens. Chiliz a type of fan token, for example, is an ERC20 token and the founder of the popular sports fan interaction platform Socios, which is powered by $CHZ.

Fan Tokens are cryptocurrency trading exchange inventions curated for die-hard fans. They allow access to an encrypted ledger of your presumed membership and voting rights in a club or team. Rather than being supported by underlying worth, these unique digital assets are backed by how much value their followers place on being able to engage in the club, as well as their newly acquired capacity to gain unique rewards.

Fan tokens, in a nutshell, shift in accordance with their popularity. The popularity stems from the privileges that each token fan grants, allowing supporters to become more involved with their favorite team. It empowers fans to be a part of their community or club’s decision-making process, not to mention the perks and rewards they unlock along the road that increase their status as a superfan!

1. Fan tokens are the best crypto trading that allows users to have access to a range of fan-related membership benefits such as voting on club decisions, prizes, item designs, and one-of-a-kind experiences.

2. Fan tokens are cryptocurrencies that aren’t always underpinned by the fundamental value ideas of Bitcoin or Ethereum. They are valued based on how much fans appreciate the ability to engage in the club and gain special rewards.

3. They may be used by cryptocurrency trading platforms on sporting events, music fan clubs, and perhaps other organizations to democratize and organize events, develop club leadership, and more.

4. Unlike NFTs, fan tokens are completely “exchangeable” or convertible. This means that the tokens might be exchanged for sports club merchandise, VIP experiences, and other products, like currency or cash.

5. They also serve an important role in uniting the club’s fan base with another collaborative item of fervour.

The Chiliz token has so far been the best-known fan token that you can easily buy at the best price on BuyUcoin. Spawning a slew of others like the Manchester City Fan Token, AC Milan Fan Token, Juventus Fan Token, and a slew of others. As the blockchain ecosystem’s creativity reaches new heights, these currencies give bitcoin a unique use scenario.

Fans can buy digital tokens and exchange them for other cryptocurrencies in the same way they would any other cryptocurrency. When best crypto trading, the value of a fan token is normally set by the seller. It is also subject to change depending on market conditions and the token’s popularity at the moment.

When users obtain a certain number of fan tokens, they are given the ability to vote on a range of issues impacting their favorite team. The issues on which supporters can vote vary depending on the team, but they may include:

· Merchandise design for a club

· Tour bus layouts

· Ticketing is important.

· Locations must be matched

· MVP award categories.

These bonuses allow supporters to feel more connected to the team they currently support. They provide an added sense of pride and prestige because their fan tokens are likely to increase in value as the club expands.

Fan tokens aid in the formation of a select group of die-hard supporters to apply the best strategy for crypto trading. They open up a new way for fans to become involved in a fun voting and reward system. The more fan tokens you have, the more power you have over the organization and the greater your loyalty to your team.

Fan tokens are typically used as part of fan organizations and sports clubs. They are different from other altcoins like Ethereum and Chainlink in that they do not solve the same financial or technological challenges. They’re more of a fun, achievement token, to put it another way.

The crypto market is already known to be unpredictable, so find the best strategy for crypto trading and meme currencies are particularly vulnerable to price fluctuations. However, the tremendous risk does not always imply great profit since certain fan coins’ prices may explode if they catch on and become even more popular.

When making any investment, it is always essential to thoroughly consider the value and solutions provided by the product. Fan tokens may be more of an acquisition of the privileges that sports clubs may give than an asset.

Still, want to have your say on the inspirational motto that will be displayed in your favorite team’s locker room? You must purchase a fan token in order to be eligible.

Purchasing a fan token is similar to purchasing any other cryptocurrency. The simplest way to acquire them is through a cryptocurrency exchange or brokerage, such as BuyUcoin.

On BuyUcoin, you can buy Fan Tokens in the form of Chiliz through INR or USDT. With these CHZ coins, you can buy club fan tokens. You’ll have to create an account on the exchange, then place a ‘spot’ order for the fan token using any of the token pairings supported by the BuyUcoin platform. 100 lucky winners stand a chance to get free Chiliz Tokens worth of $10 Each.

Today, crypto services company Blockchain.com, announced the launch of its new Visa debit card.

With the Blockchain.com Visa card, users can spend any crypto in their Blockchain.com Wallet without fees while earning 1% back in crypto on all purchases.

Key Features:

• Works like a debit card – Pay from crypto or cash balances anywhere Visa debit cards are accepted.
• Practical – There are no signup fees, card issuance fees, annual fees, or transaction fees.
• Earn crypto back – Users receive 1% back in crypto whenever they make a purchase.

“Starting today, US customers can join the waitlist for the Blockchain.com Visa Card. The first customers will be able to order your card soon and immediately use it for online purchases, with your physical card to be delivered in the mail shortly after.”
– The Blockchain.com Team

Those interested in this card can join the waitlist here.

Registering a company and obtaining a crypto license in Lithuania can be rather complex and not every business is qualified.

How to Register and Manage a Local Legal Entity

The process of registering a company, obtaining a Lithuania crypto license, and successfully running a profitable business can be rather complex and not every business is qualified to do so. The solution is to utilize the services of third-party businesses that specialize in establishing and managing local legal entities in Lithuania. If you want to cut costs, at least hire this kind of company for the first stages of company creation. This is the most difficult stage of the entire process, and some mistakes can be made that can either slow down or stall a company. Therefore, if you want to maximize the benefits of choosing Lithuania as your jurisdiction, hire a licensed specialist.

How to Open a Local Office (No Physical Office Required) with a ZIP Code

There’s a strict requirement to have a physical address for every company working in Lithuania. However, it’s possible to create a virtual office at a low cost. Once again, many reputable businesses are offering their services online. For example, you could open a virtual office through a local or international company that helps other companies create legal entities. That way, you can circumvent the additional hassle, and the costs will be minimal. If you choose to do this independently, there is enough information regarding precise requirements and the process on the official websites.

How to Open a Corporate Bank Account in Lithuania

A company operating out of Lithuania does need to have a local bank account to operate. Even though a Lithuanian citizen can open a bank account in a matter of minutes, the process is much more complex for a foreigner. You will have to provide a lot of paperwork detailing your identity, your name, and your business activities. You should also have proof of the validity of authorized capital along with other business-related documents. This will ensure your company can operate in Lithuania. The decision will be reached in five business days, approximately.

How to Register Company Information in Lithuanian Registers

This country’s center of registers is a state-backed body that catalogs and archives all the information regarding companies. The registration and disclosure of the information can be done virtually. Each new business has to meet registration requirements in order to be added to the main registry. For instance, the required paperwork for company creation includes the following:

• ID copies for key personnel;
• Proof of residence (outside of details);
• Contact details;
• Details for online identity verification;
• Company name and description;
• Company membership details.

That’s just a short list of the required documents. However, there’s a lot of overlap with requirements across Europe, so you’re not in for a surprise.

How to Prepare Information About Company Officials

To successfully register a company in this jurisdiction, you must provide important data regarding key employees. Here are a few of the documents that will need to be submitted to the appropriate governing bodies:

• Copies of IDs (apostilled)
• CVs
• Proof of no criminal record
• Proof of qualification in the field of digital currencies

The process of preparing these documents may vary slightly depending on the initial jurisdiction but usually doesn’t pose a problem for citizens. If the documents are all in order, Lithuanian authorities will quickly approve the document, and you’ll be added to the company directory.

What Documents Are Required to Confirm the Official Origin of Funds?

It’s mandatory for all companies based out of Lithuania to share previous tax statements or other documents corroborating the origins of their capital. In addition, the documents will be cross-checked against the official databases before any decision is reached. As you know, Lithuania prides itself on economic safety and transparency, and a company is required to keep records of the finances related to it. If the documents are in order, you’re good to go. The verification process might seem strict at first, but there’s nothing to worry about if the funds that will be used as the initial budget were acquired via fully legal means, be it business activity in your country, payments from the government, or donations.

How to Apply to the Lithuanian Tax Service for a Permit

Every company has to have a valid tax ID to carry out business activities, including running a cryptocurrency exchange. You will have to get in touch with the tax agency to register your company, but it’s a straightforward process. The governing body that needs to be contacted is called the National Revenue Administration. It operates under the Ministry of Finance of the Republic of Lithuania. All the up-to-date information regarding the registration process can be found on either the official website of the Tax Department or on the government portal where all forms must be filed. There are certain intricacies of your registration that will vary depending on your economic activity. If it’s a retail service, the process of applying for a tax permit and adhering to the current financial reporting is relatively simple. For the crypto businesses, it might be more complex. 

How to Pay State Fees

At the time of writing, you are required to pay a state fee of approximately EUR 57 in order to set up an LLC. There are also notary fees that can cost anywhere between EUR 100-232. Additional translation services will probably be required and can also have a major influence on the final cost. Even though the cost of creating a business is relatively low when compared to other European countries, there’s still a question of how to pay the fees. All fees can be paid via online banking. You can also use cash. The Lithuanian government makes it easy for the citizens and foreign investors to manage this process.

How Long Does it Take to Get a License?

The timeframe might differ significantly based on the initial circumstances of the company. Also, people that choose to enlist the help of a professional attorney or a 3rd-party company that specializes in creating businesses usually take much shorter to get a license. At the end of the day, it’s all about whether or not you choose to spend the initial funds on speeding up and simplifying the process or start the process from scratch and risk prolonging the process.