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When the Dollar Falls

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Once again, the crypto market is in an upswing. The more I look, the more it seems that Bitcoin and the other cryptos are beginning to find their place among the other markets.

As we know, crypto is an exciting new asset class. Until now, it has been very segregated from the rest of the markets, but that's now changing at a rapid pace.

In 2017, we saw bitcoin as a high-risk asset correlating with the stocks, which is traditionally a high-risk market. Here are Bitcoin and the Dow Jones over the course of last year.

At the beginning of this year, there was a sharp correction in both the stock markets and the cryptos. Now that that dynamic has played out, it seems that the US Dollar is now taking center stage.

If you're still unconvinced that the USD and BTC are doing a little dance together, take a look at this graph here of the US Dollar Index and Bitcoin over the last two months. With the exception of July 17th when both of them rose together, their momentum of travel have been mirrored.

My suspicion here is that as the Dollar dominates the markets people are placing more faith in it over bitcoin and of course, vice versa when the Dollar falls.

Please note: All data, figures & graphs are valid as of August 28th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Fresh optimism has entered the markets with the announcement that...

It was touch and go there for a bit but it seems that Trump has now signed a 16 year deal with Mexico, which could spell the end of NAFTA. The new deal will also see the end of new cars coming to the USA from China through Mexico. 

The best part is that Justin Trudeau now has the option to join in the fun as well.

The stock markets were doing great yesterday with fresh highs in many places. Today they're simply off the hook, especially in the tech sector.

Crypto Stars

As the Dollar falls, crypto is rising in relation but certainly not evenly. The rising stars of the crypto world over the last 24 hours have been Dash and NEO. 

One reason that may be helping Dash along is the news that it is partnering with Kripto Mobile to make some hip new Krip phones, which will be pre-loaded with Dash and an entire Dash ecosystem, designed to revolutionize the economy of Latin America.

I have no clue why NEO (AKA Chinese Ethereum) is rising. This could just be the general excitement in the crypto market  –  there doesn't always need to be a news story tied to a movement.

Bitcoin itself is now testing $7,000 per coin for the first time this month. The long green candle and strong push off the lows is yet another sign that this bear market may finally be behind us.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first…

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