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October is historically a positive month for Bitcoin. Bitcoin typically experiences an upward trend in October. Various factors combined to push Bitcoin to new heights this month. Historically, since 2013,…

Market Analysis & Insights

Descending Broadening Wedge Says Bitcoin Is Going To $90,000

September 19, 2024

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Recent analyses have uncovered a bullish pattern on the Bitcoin chart, suggesting the cryptocurrency could soar as high as $90,000. Crypto analyst Jelle highlights this potential price rally and shares…

Investing & Trading

Nervos Network Bulls Add More Profits To Their Wallets With Gambling Token Mpeppe

September 19, 2024

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The cryptocurrency landscape is ever-evolving, with new opportunities emerging rapidly. Recently, the Nervos Network (CKB) has made headlines with impressive growth, climbing by 119% within just a week. As investors…

Investing & Trading

10 Things You Need to Know Before Investing in Cryptocurrency

September 16, 2024

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Cryptocurrency has become increasingly popular as an investment opportunity, with many investors hoping to cash in on the potential profits that can come with trading digital currencies. However, investing in…

Blockchain Technology

Blockchain in Today’s Realities: Transforming Industries and Shaping the Future

October 4, 2024

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In the past decade, blockchain technology has evolved from a niche concept closely tied to cryptocurrencies into a transformative force with broad applications across numerous industries. It has revolutionized how…

Blockchain Technology

Unlocking the Power of Blockchain: A Comprehensive Guide to Understanding Blockchain Technology

September 2, 2024

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In the realm of digital innovation, few technologies have garnered as much attention and potential as blockchain. From cryptocurrencies to supply chain management, blockchain technology can revolutionize industries across the…

A First-time Business Owner’s Guide to Accounting

It takes first-time business owners, uncommon passion, and perseverance to turn a great idea into a living. Starting a company is challenging, especially if you lack a background in business and don’t have the required accounting training. But with the right tools, anyone with the drive to succeed can launch a business. When it comes to accounting, you need to first understand the basics so you can determine if it’s best to do your accounting yourself, use the software, hire an in-house accountant, or work with an outside accounting consultant. Essential Work Accounting is a term commonly used in the business arena, especially during the tax season. It refers to the systematic recording of financial transactions of your small business. Careful accounting is essential to every business. It helps you track income and expenditures, provide investors with quantitative financial information, ensure statutory compliance, and come up with accurate financial projections. Three vital financial statements are often generated based on your business’s accounting record: your income statement, balance sheet, and cash flow statement. Together, these reports create a clear picture of your business’s financial position and the profit it makes. To ensure that your business stays afloat, you have to keep your financial records up-to-date. Here are a few reasons why accounting is crucial for your small business: It helps evaluate your business’s performance by helping you understand what’s going on with your business financially and compare the current data with previous accounting records to allocate budget efficiently. Proper accounting records help you stay legally compliant by appropriately addressing liabilities like sales taxes, value added taxes, income taxes, pension funds, etc. Your financial records play a vital role in helping you create a budget and future projections based on historical data so that your operations remain profitable. Getting Started Before you officially launch your business, you should properly set up your accounting administration. Accounting can sometimes feel like the most tedious aspect of running a business, but it’s vital to stay on track, especially during the tax season and early business stages. Here’s a quick checklist that will help you set up your financials: Open A Business Account When you start your business, you need an account to hold all your income. You also have to keep your personal and business finances separated to avoid complications during the tax season. When opening a business bank account, choose a bank that fits your needs. Start with a savings and a checking account. You can keep your revenue in the checking account and hold a percentage of your money in the savings account to pay off taxes at the end of the year. Track Your Expenses Often, small business startup expenses are tax-deductible. However, to claim these deductions, the IRS needs you to record every cent you spend. Take special care to hold on to the receipts, bills, invoices, bank and credit card statements, canceled checks, proof of payments, previous tax returns, W2 and 1099 forms, and any other financial statements. Payroll Management Payroll management requires three steps: preparing your payroll, paying employees, and accounting for post-payment. Typically, employers create a separate payroll bank account for paying employees with checks or direct deposit. Is Assistance Necessary? An accountant is highly skilled at handling all the essential financial tasks associated with running a business. They can manage everything from bookkeeping to preparing financial documents and financial planning. A certified public accountant (CPA) is someone who has passed the state’s uniform CPA exam and meets both the education and experience requirements of the state their practice in. They are capable of offering advice, ensuring you make the right business decisions. The potential disadvantage of hiring an accountant is the added expense. However, your CPA can advise you on tax credit deductions, helping you increase your profits. Furthermore, they can also decrease the liability of mistakes in your tax filing, protecting you from penalties and interest. By working with an accountant, you can save a lot of money in the long run and up more of your time to focus on running your business. If you do decide to go this route, start by running a simple Google search on “a small business accountant near me” and look for one that offers accounting and tax services. Knowing Your Numbers Starting a business is an overwhelming process, but even novices can handle accounting and bookkeeping with research and preparation. However, doing your accounting may not be the best decision for your company, as mistakes are easy to make, and you’ll likely be needed elsewhere.
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Ethereum Close Below $1K Could Spark Larger Degree Downtrend

Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone. Ethereum remained in a bearish zone below $1,100 and $1,080 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,120 resistance zone. Ethereum Price Remains At Risk Ethereum remained in a bearish zone and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher. There was a minor recovery wave above the $1,030 and $1,050 levels. Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,236 swing high to the $997 low. It even attempted an upside break above the $1,100 level but failed. It is now trading below $1,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH/USD. Immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to the $997 low. A close above the $1,120 resistance zone could start a decent increase. In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high. More Losses in ETH? If Ethereum fails to rise above the $1,080 resistance, it could continue to move down. Initial support on the downside is near the $1,050 zone or the trend line. The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 levels. Major Support Level – $1,000 Major Resistance Level – $1,080 Source
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The Potential of Decentralized Finance (DeFi) Projects: A Comprehensive Exploration

In recent years, decentralized finance (DeFi) has emerged as one of the most revolutionary innovations in the cryptocurrency space. DeFi projects aim to democratize access to financial services, enabling users to borrow, lend, trade, and earn interest without the need for traditional intermediaries. In this in-depth exploration, we’ll delve into the world of DeFi projects, uncovering their unique features, use cases, and the transformative impact they have on the global financial landscape. Understanding Decentralized Finance (DeFi) Decentralized finance (DeFi) refers to a broad category of blockchain-based financial applications and protocols that operate without centralized control or intermediaries. Instead, DeFi projects leverage smart contracts and decentralized networks to facilitate peer-to-peer transactions, providing users with greater autonomy, transparency, and financial sovereignty. Key Features of DeFi Projects Open Access: DeFi projects are accessible to anyone with an internet connection and a compatible digital wallet, allowing users to participate in financial activities without geographic or institutional barriers. Permissionless: DeFi protocols are permissionless, meaning users can interact with them without needing approval from centralized authorities. This fosters innovation and inclusivity within the DeFi ecosystem. Interoperability: Many DeFi projects are interoperable, allowing users to seamlessly transfer assets and data between different protocols and platforms, enhancing liquidity and efficiency. Transparency: DeFi transactions are recorded on public blockchains, providing users with transparent and auditable records of their financial activities. This transparency helps build trust and confidence among participants. Popular DeFi Projects and Protocols Uniswap (UNI): Uniswap is a decentralized exchange (DEX) protocol that allows users to swap ERC-20 tokens directly from their wallets without the need for intermediaries. It uses an automated market-making (AMM) mechanism to provide liquidity and facilitate trading. Compound (COMP): Compound is a decentralized lending and borrowing protocol that enables users to earn interest on deposited assets or borrow assets against collateral. Interest rates are determined algorithmically based on supply and demand. Aave (AAVE): Aave is a decentralized lending platform that allows users to lend and borrow a wide range of cryptocurrencies. It features innovative lending pools, flash loans, and variable interest rates based on market conditions. MakerDAO (MKR): MakerDAO is a decentralized autonomous organization (DAO) that governs the Maker protocol, which issues the stablecoin Dai (DAI) through collateralized debt positions (CDPs). Users can lock up collateral assets to generate Dai loans. Use Cases of DeFi Projects Lending and Borrowing: DeFi projects enable users to lend out their assets to earn interest or borrow assets against collateral without the need for traditional banks or financial institutions. Decentralized Exchanges: DeFi DEXs allow users to trade cryptocurrencies directly from their wallets, providing liquidity and reducing reliance on centralized exchanges. Yield Farming: Yield farming involves leveraging DeFi protocols to maximize returns on deposited assets through strategies such as liquidity provisioning, staking, and yield aggregation. Stablecoins: DeFi stablecoins like Dai provide users with a stable store of value and medium of exchange, offering stability amidst market volatility. Challenges and Risks While DeFi projects offer numerous benefits, they also pose certain challenges and risks that users should be aware of: Smart Contract Vulnerabilities: DeFi protocols are vulnerable to smart contract bugs and exploits, which can result in financial losses for users. Regulatory Uncertainty: Regulatory uncertainty surrounding DeFi projects and tokens could impact their long-term viability and adoption. Market Volatility: DeFi markets are highly volatile, and users may experience significant price fluctuations and impermanent losses when participating in liquidity provision and yield farming. Conclusion In conclusion, decentralized finance (DeFi) projects represent a paradigm shift in the way we think about finance, offering innovative solutions to traditional banking and financial services. By leveraging blockchain technology and decentralized networks, DeFi projects empower individuals with greater financial freedom, autonomy, and accessibility. While challenges and risks exist, the future of DeFi holds immense potential for transforming the global financial landscape and driving financial inclusion on a massive scale. Ready to explore the world of decentralized finance (DeFi) and unlock its potential? Dive deeper into popular DeFi projects, research emerging protocols, and platforms, and consider experimenting with DeFi applications in a controlled manner. Remember to conduct thorough research, exercise caution, and stay informed about the latest developments in the rapidly evolving DeFi ecosystem.
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