As many as 41.4% of cryptocurrency investors are crypto newbies, and 60% of them declare they have invested between USD 2,500 and USD 5,000 in crypto, according to the results of a recent survey by alternative investment firm Invictus Capital.
“Today’s investor resembles a 35-year-old German engineer named Günther. He derives his crypto investing information from YouTube, because he values learning how to generate high returns on his investment more than the idealism of cutting out the middleman,” the company said in the survey’s summary.
They are referring to the finding that the country with the highest percentage of surveyed alternative investors was Germany, at 14.1%, followed by the US and Spain, with 7.7% and 6.8%, respectively. The UK and Turkey were ranked fourth, both at 4.8%.
Furthermore, the survey indicates crypto investing is dominated by those aged 31-45, with 41.8%, while respondents aged 25 and below represent 25.1% of the total. Investors aged 25 to 30 hold a 22.9% share, while those aged 45 and above represent only 10.2% of the total.
The survey collected answers from some 3,473 respondents spread across a total of 60 countries. Ofir Sever, a PR spokesperson for Invictus Capital, told Cryptonews.com that the survey’s focus was to determine the modern investor profile, media consumption habits, crypto investing sources, as well as investing habits. The survey was carried out online last February and March, and it targeted investors.
Data was sourced from respondents with access to high-speed Internet, with a significant share of responses from the European Union’s member states and Asian countries, according to the spokesperson. Mobile users provided 94% of the responses, with desktop and tablet users generating a further 5.5% and 0.5%, respectively.
The average sum invested in crypto is reported to be USD 2,500 – USD 5,000, with 60% of those surveyed marking this option. 40% also reported investing USD 100 – USD 2,500, while more than 30% of the respondents have also made investments under USD 100.
With regards to the respondents’ professional profiles, engineers lead the way, at 12.5%, followed by tradesmen and lawyers, both at 9.6%, and finance professionals with 8.6%. Among the listed professions, IT is at the bottom of the list, with 1.6%.
The survey’s summary further stated that:
- 68% said high returns remain a motivation;
- 54% see crypto investing as a method to future proof their money;
- 25% invest to mitigate dealing with middle men;
- 50% noted high fees on exchanges, quality, and volume on exchanges as the biggest challenges they faced.
74% of the surveyed individuals chose YouTube as their preferred social channel.
Meanwhile, almost 40% percent of respondents said that they invest on a weekly basis, 34.3% said they invest monthly, and 7.7% said they invest once a year, Invictus Capital concluded.
– 9% of Surveyed US Teens Claim to Have Traded in Crypto
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– 18% of Asked Americans Bought Crypto, Most Know Only Bitcoin – Survey
– Young Investors Drive Increased Aussie Bitcoin & Crypto Investments
– Investors Still Prefer Stocks To Bitcoin, But BTC Wins Over Gold – Survey
– More Professionals Trust Crypto Than Want To Get Paid In It – Survey
– Crypto is Here to Stay, But There is a Twist, Survey Shows
The World Wrestling Entertainment announced today it will create the corporation’s first-ever non-fungible tokens (NFTs) representing legendary moments from the career of one of the most iconic fighters – The Undertaker. The four-tier drop will be launched ahead of the company’s biggest event this Saturday, April 10th – WrestleMania.
The Deadman as an NFT
WWE announced it will release non-fungible tokens featuring Mark William Calaway, better know by his ring name, The Undertaker. The legendary ex-superstar NFTs, who retired from professional wrestling last year, will be one of the spotlights of this year’s Wrestlemania.
The auction will open this Saturday at 10:30 AM ET. The drop is supposed to be met with significant interest and will last for 37 hours. The end will be on Sunday, April 11th, at 11:30 PM ET.
The Undertaker NFTs will be offered in four tiers – Platinum, Gold, Silver, and Bronze. The Platinum and Gold will have minimum open bids of respectively $10,000 and $5,000, while the other two will have fixed prices – $1,000 for the Silver and $100 for the Bronze.
The top option would also provide VIP access, hotel accommodations, a personalized video message from the superstar, as well as a unique WWE Championship Title Belt.
The Gold one – would get the winner two front-row-seat tickets at a Monday Night Raw or Friday Night SmackDown of their choice in 2021 or 2022, a personalized video message, and a signed Title Belt.
The Silver and Bronze tiers would provide more limited benefits to the winners.
World Wrestling Entertainment has partnered with Bitski for the project. With this being announced, it means participants will need to have a Bitski account, and winners will receive NFTs in their wallets.
The Expansion of NFT
Non-fungible tokens have been a hot topic recently as they have enjoyed mass acceptance and adoption from various celebrities and industries.
As CryptoPotato recently reported, the US Major League Baseball team Toronto Blue Jays explored options to take advantage of non-fungible tokens. The team’s President and CEO confirmed the move by indicating that it should enhance fan interest in the sport.
Another fresh example of the increased popularity of NFT is Lindsay Lohan’s plan to release an exclusive NFT collection. The famous American actress reaffirmed her support for non-fungible tokens by partnering with TRON to launch personalized digital art products.
In his turn, the founder of TRON and the CEO of BitTorrent, Justin Sun, went even further. Recently, he bought a painting by Picasso for $20 million, and he intended to tokenize it through the JUST NFT Fund.
Featured Image Courtesy of Wrestling Edge
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According to the announcement today, the beauty application Meitu purchased another 175 BTC to reach the $100 million mark it set for itself in its Cryptocurrency Investment Plan.
Meitu buys another $10 million in Bitcoin
Therefore, the goal to invest $100 million in the cryptocurrency of Meitu has been achieved. The plan called for Meitu to add $100 million in BTC and ETH to its treasury, both as an investment and preparation for future initiatives. Meitu intends to use some of the ETH to launch decentralized apps in the future.
The publicly traded firm first acquired $40 million in BTC and ETH in early March of this year, when it unveiled its intention to make further purchases. A week later, it purchased another $49 million. Today’s announcement is the final $10 million of the acquisition.
In total, Meitu holds 31,000 ETH (valued at $50.5 million) and 940 BTC (valued at $49.5 million).
Coinbase disclosed in late March that its institutional business facilitated the past purchases, a service it has provided for other public companies such as Tesla. It’s unclear if the latest purchases were also handled by Coinbase.
Meitu is one of the first China-based publicly listed companies to add crypto to their treasury. Other tech firms like Square, Tesla, and MicroStrategy made headlines in the past year for making similar acquisitions.
CEX.IO, a leading international cryptocurrency exchange, launches its Savings service as the newest solution in the fast-growing Earn ecosystem. Available in 171 countries, CEX.IO Savings offers users up to 20% Annual Percentage Yield (APY) on 19 different digital assets with the flexibility to move funds in and out of their accounts without any restrictions.
Similarly to savings accounts in the traditional finance industry, CEX.IO Savings offers users a way to generate a passive return on the digital assets they hold. However, unlike a savings account, the international exchange’s Savings product allows customers to add capital or withdraw their funds at any time without fees, expiration dates, or the requirement to lock their holdings for extended periods.
Currently, CEX.IO Savings users can earn interest between 2% and 20% APY on 19 different cryptocurrencies, including multiple stablecoins and DeFi tokens. However, the company is soon expanding its list of supported digital assets.
Users can earn interest in their cryptocurrencies in two ways within CEX.IO Savings. While Flexible Savings provides customers access to their funds any time they need, Locked Savings is for those who are planning to hold their digital assets for a longer time period. While users have to lock their assets until the expiration date, they can utilize this savings type to achieve higher returns with fixed interest rates. On the other hand, the APY for Flexible Savings is fixed on a daily basis. It is reviewed every 24 hours and will respond to the market conditions based on supply and demand.
CEX.IO launched its Savings service as part of the greater Earn ecosystem, which is centered around crypto users seeking to generate an extra income on their digital asset holdings. As the first solution in the Earn suite, CEX.IO launched Staking in 2020, a service that allows customers to earn rewards for locking up their tokens and maintaining the blockchain networks of cryptocurrency projects utilizing the Proof-of-Stake (PoS) consensus mechanism. One of the USPs of CEX.IO Staking is that CEX.IO takes on all the complexities of staking node management and technical integrations.
This allows CEX.IO Staking to guarantee fast capital withdrawals for our users to the extent that users can even place limit orders on our exchange with the assets they staked. This unique feature allows our users to keep generating a passive return on their staked asset while waiting for the price to increase up to the level when they would like to exit from their position.
Founded in 2013, CEX.IO is an international cryptocurrency exchange that offers a wide range of digital asset solutions to over 4 million customers. With a fast-growing ecosystem of innovative products, the London-based company serves all participants of the cryptocurrency market – from retail traders to institutional investors. With a robust, enterprise-grade service, CEX.IO’s multi-functional digital asset solutions feature cutting-edge security while being regulated in multiple jurisdictions, including the United States, Gibraltar, and Cyprus.
In July 2020 and February 2021, CryptoCompare ranked CEX.IO among the top 10 cryptocurrency exchanges worldwide in its Exchange Benchmark Rating. In both reports, the London-based company secured an A grade as well as the third spot in terms of security.
“The way the crypto market was developing in 2020 and 2021 provided digital asset holders a good deal of new options to earn. Staking, lending, and yield farming – to name a few. During the times we have spent in the DeFi sector, we noticed a demand among our users to earn passive income while holding crypto assets. For that reason, we decided to launch CEX.IO Earn, a new service within CEX.IO ecosystem allowing crypto owners to profit by contributing to the blockchain industry. After rolling out Staking and seeing the hugely positive market response, we are now launching Savings. With our new product, customers can earn interest after the coins they contributed on the platform while having the flexibility to withdraw their funds or increase their holdings to achieve better returns at any time,” Konstantin Anissimov, Executive Director at CEX.IO, stated.
Bitcoin dipped to its lowest point in over a week beneath $56,000 but has recovered some of the losses and currently stands above $57,000. Most altcoins have retraced even harder, including a double-digit price drop for the high-flying Ripple (XRP) and Ethereum briefly dropping beneath $2,000.
BTC’s Dominance Increases Despite the Drop
The past several days didn’t go all that well for the primary cryptocurrency. After failing to overcome $60,000 on numerous occasions, the asset reversed its trajectory and headed south.
Bitcoin reached $59,400 on Thursday, but its inability to sustain the upward momentum gave the bears an opportunity to push it down, which led to a $4,000 price drop in less than 48 hours.
Yesterday was an especially harmful trading day for BTC as it slumped to a low of about $55,500. This was the lowest price line since late March.
It’s worth noting that this retracement came as the South Korean kimchi premium normalized following a yearly high. As CryptoPotatoreported, such developments typically lead to a price drop.
Nevertheless, the cryptocurrency bounced off and has regained more than $1,500 since its low. As of writing these lines, BTC stands just above $57,000.
On the positive side, the altcoin market has retraced even harder. Consequently, bitcoin’s market capitalization has recovered a little less than 1% and stands around 55% after dipping below that level yesterday.
Altcoins Deep in Red
The alternative coins were on a roll in the past week or so, registering new records. Ripple was among the best performers by adding 100% of value in that timeframe, reaching a 3-year high at over $1,10, and becoming the 4th largest cryptocurrency by market cap.
However, XRP has retraced with about 11% since yesterday, despite the company’s CEO claiming that the court hearing against the SEC went well for the payment processor.
Ethereum dropped below $2,000 but has jumped slightly and currently stands at $2,020. Binance Coin (-2%), Polkadot (-4%), Cardano (-6%), Uniswap (-2%), Litecoin (-5%), and Chainlink (-5%) are also in the red.
The situation with the lower- and mid-cap altcoins is significantly more volatile, as one could expect. Helium (-15%), Ontology (-14%), Qtum (-14%), NEM (-12%), EOS (-12%), Waves (-11%), and Bitcoin SV (-10%) have also retraced with double-digits.
On the other hand, WazurX (37%), 1inch (23%), Enjin Coin (23%), Harmony (21%), PancakeSwap (12%), Yearn.Finance (12%) and Conflux Network (10%) have gained the most since yesterday.
Bitcoin price extended its decline below the key USD 57,000 support level. BTC even broke the USD 56,200 support, but the bulls were active near USD 55,500. It is currently (04:30 UTC) consolidating above USD 56,000, and it is facing many hurdles near USD 57,000 and USD 57,200.
Similarly, most major altcoins are still in the red zone. ETH broke the USD 2,000 support before the bulls appeared near USD 1,940. XRP/USD is trimming gains and it is now trading near the USD 0.900 level.
Total market capitalization
After a clear break below USD 57,000, bitcoin price extended its decline. BTC even dived below USD 56,200, but the bulls were able to protect the key USD 55,500 support zone. The price is now recovering and trading above USD 56,000. An initial resistance is near the USD 57,000 level. The key resistance for a steady increase is now forming near the USD 57,200 level.
On the downside, the USD 56,000 level is a short-term support. The main support is now near USD 55,500, below which the bears might gain strength.
Ethereum price also followed bitcoin and it broke the key USD 2,000 support. ETH traded close to the USD 1,930 support and it is now correcting higher. There was a break above USD 1,980, but the bulls are facing many hurdles. The first key resistance is near USD 2,020, followed by USD 2,050.
On the downside, USD 1,950 and USD 1,940 are decent support levels. Any more losses might call for a drop below USD 1,900.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) recovered losses and it is back above the USD 380 level. BNB is testing the USD 395 resistance, but the key breakout zone is near USD 400. A successful close above USD 400 may possibly increase the chances of a fresh increase towards USD 425.
Cardano (ADA) tested the USD 1.150 support zone, where the bulls took a stand. ADA is rising and it could soon attempt an upside break above the USD 1.200 and USD 1.220 resistance levels. The next key resistance is near the USD 1.285 level.
Litecoin (LTC) trimmed most of its gains after it failed to clear the USD 245 resistance. LTC declined below the USD 225 support, but it found bids near USD 212. The price is now moving higher, but it must gain strength above USD 225 for a steady increase to USD 245.
XRP price topped near USD 1.10 before starting a downside correction. XRP broke the USD 1.000 support and it even tested USD 0.900. It is now consolidating above USD 0.900, with an immediate resistance at USD 0.945. The main resistance is now near the USD 1.000 level.
Other altcoins market today
Many altcoins declined over 8%, including BTG, HNT, XEM, BTT, QTUM, FLOW, XLM, NEO, SNX, EOS, ONT, NEAR, LINK, MATIC, and BSV. Conversely, WRX was able to rally and it cleared the USD 4.50 level.
Overall, bitcoin price is showing a few bearish signs below USD 57,000 and USD 57,200. However, BTC could attempt a fresh increase unless there is a clear break below the USD 55,500 support.
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Data from on-chain analytics provider Glassnode has reported that Bitcoin’s average hash rate hit a new all-time high this week, crossing a daily average of 178 exahashes per second for the first time in history.
Bitinfocharts confirms the record high, reporting the current hash rate at 176 EH/s. It topped 150 EH/s twice in February and has remained at these high levels for the past two months, steadily increasing.
Hashrate is often considered as computing ‘horsepower’ for the Bitcoin network and a strong sign of its security. The higher the hashrate, the harder it is to attack the network.
The bullish on-chain metrics were observed by data scientist Rafael Schultze-Kraft [@n3ocortex], who added that mining difficulty has also hit a new all-time high.
1/ A thread on #Bitcoin miner metrics.
First, some fundamentals.
Bitcoin’s average hash rate hit a new ATH yesterday – crossing a daily average of 178 exahash / sec for the first time in history.
Miners keep spinning up machines – hash rate is up only.https://t.co/SEdtQGNsT7pic.twitter.com/vIjVGyH8QC
— Rafael Schultze-Kraft (@n3ocortex) April 6, 2021
Mining Never More Profitable
The analyst noted that Bitcoin miners have been making more than $50 million per day for the past month. He put this into perspective by pointing out that a year ago, this number was around $12 million – so current earnings are a fourfold increase despite the block subsidy being cut in half in May 2020’s halving.
Miners are also now holding on to the new coins they’re minting as the net position has flipped back to green, according to Glassnode. In the run-up to the $40K price level, miners were aggressively selling off to cover their costs, but they’ve now switched back into accumulation mode.
“In fact, the Bitcoin unspent supply (BTC that has never left the original mining addresses), has started to increase again after a quick and sharp drop of around 15k BTC at the beginning of the year. More hodling than spending.”
He added that direct BTC transfers from miner to exchange wallets have been going back down significantly, and even USD-dominated miner to exchange volume has decreased despite a stable price. However, miner activity represents a tiny fraction of BTC trading volumes as a whole.
The analyst concluded that these metrics are very bullish, and miners have little incentive to cash out now or capitulate as many predicted after the halving.
Bitcoin Price Update
At the time of press, Bitcoin was trading down 1% on the day at $56,700, according to Coingecko. It is down at the same time last week by 3.4% but remains within the month-long range bound channel it has formed.
Bitcoin has not dropped below $50K for over a month, which is also a bullish sign that support is holding strong.
PayPal CEO Peter Thiel loves Bitcoin but hates it when China mines or uses it.
In a virtual event organized by the Richard Nixon Foundation, Peter Thiel explained that Bitcoin could be used by China as a weapon in the non-conventional war against the United States, taking advantage of its characteristics to counteract the hegemonic power of the dollar.
“Even though I’m sort of a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether at this point Bitcoin should also be thought in part of as a Chinese financial weapon against the U.S.”
The World vs. The United States
Peter Thiel explained that Bitcoin threatens the very idea of fiat money but is especially dangerous to the U.S. dollar and called on U.S. strategists to take Bitcoin-related developments more seriously when studying the international geopolitical landscape.
However, Bitcoin hodlers are not the only ones who might take offense at being called a weapon of the Chinese communist party. According to the CEO of PayPal, the existence of the Euro itseld¿f is also a weapon of China in its conspiracy to destroy the power of the United States to control some critical aspects of the world economy:
“From China’s point of view, they don’t like the U.S. having this reserve currency, because it gives us a lot of leverage over things like the oil supply chain and things like that. They don’t want the Renminbi to become a reserve currency because then you have to open your capital account and do all sorts of things they really don’t want to do. I think the Euro you could think it is in part a Chinese weapon against the dollar”.
Regarding DECP, the digital currency that China is developing, Peter Thiel believes it cannot be compared to a cryptocurrency and called it a “totalitarian measuring device.”
The Global Tech Race According to The CEO of Paypal
Thiel’s words do not seem very harmonious with the patriotism he so proudly showed when attacking China. Several countries are developing their own digital currencies. Even the United States is beginning to advance the idea of creating a digital dollar with very similar characteristics to those of the Chinese money.
The CEO of PayPal is not concerned about China’s potential to innovate and create but rather about its power to copy things. In response to Michael Pompeo, he explained that China had not made many advances concerning blockchain technology. Still, if China reaches a position of parity with the United States from a technological point of view, the West would lose its advantage as a world geopolitical dominator.
Thiel regretted that Silicon Valley did not see China as an adversary. He pointed to Apple as a company that is a real structural problem for having “real synergies with China.” Google and Facebook were also mentioned by Thiel, who noted that they were friendly to the dreaded Chinese adversary.
Paypal has played a key role in the recent bullish trend of Bitcoin and the increase in cryptocurrency adoption.
As reported by Cryptopotato, PayPal recently enabled service to purchase, store and process cryptocurrency payments for US customers, with prospects to release their support to other countries later in the year.
Hopefully, this massive boost to Bitcoin adoption will not be seen by regulators as a support for China’s crypto plans in the years ahead.