
Best ways to legally reduce tax for your business | EMM

Unilever Nigeria declares loss of N1.59 billion in 2020

Dangote, Rabiu, Adenuga make top 10 on Forbes’ Africa billionaires list

Veteran talk-show host, Larry King dies at 87

53,460 3G and 4G Base Transceiver Stations (BTS) deployed in Nigeria – Prof. Danbatta

These are Nigerian stocks Warren Buffett may likely buy

Elon Musk to offer $100 million prize for best carbon capture technology

Unilever Overseas Holdings acquires N352 million worth of shares of Nigerian subsidiary

94% of Bitcoin investors are making money

UBA, WAPCO, NEM drop amid profit-taking
Cryptocurrency
100 Crypto wallets have at least 10,000 Bitcoins
Investments from Square, Paul Tudor Jones, MassMutual, and SkyBridge Capital are further indisputable evidence of such investors

Published
2 weeks agoon

The number of entities owning more than 10,000 Bitcoins has just reached 100 amid the recent high volatility in play in the market, as some institutional investors adjust their portfolios.
What you should know: Recent data retrieved from Glassnode reveal that “Bitcoin Number of Addresses Holding 10k+ coins just went above 100. Current value: 100″
READ: Bitcoin Mining just got harder, as mining difficulty reaches an all-time high
📈 #Bitcoin $BTC Number of Addresses Holding 10k+ coins just went above 100.
Current value: 100
View metric:https://t.co/iHq1NPfawI pic.twitter.com/FidcYeoh1w
— glassnode alerts (@glassnodealerts) January 11, 2021
Investments from Square, Paul Tudor Jones, MassMutual, and SkyBridge Capital are further indisputable evidence of such investors in the flagship crypto market.
READ: Bitcoin’s transaction fees Jump by 344%
- However, it’s key to observe that when the world’s most popular crypto makes a new high, traders expect some form of correction, and that’s why there is a significant amount of market volatility as sellers and buyers try to take hold.
- At the time of writing this report, Bitcoin traded at $35,162.34 with a daily trading volume of $116 billion. Bitcoin is down 2.51% for the day. It presently has a market value of $654 billion.
- It has a circulating supply of 18,597,987 BTC coins and a max. supply of 21,000,000 BTC coin.
READ: Computers might steal Satoshi Nakamoto’s Bitcoin fortune
Also, the world’s flagship cryptocurrency is certainly attracting new entrants into its crypto-verse.
This is as the number of unique entities appearing for the first time in BTC’s blockchain network is surging amid high volatility coming to play.
- Bitcoin’s number of non-zero addresses just reached an all-time high of 33,537,411
- A previous all-time high of 33,534,040 was observed on 11 January, 2021.
READ: Satoshi Nakamoto highly unlikely to spend his 1.1 million BTC
Metric description: The number of unique addresses holding a positive (non-zero) amount of Bitcoins
📈 #Bitcoin $BTC Number of Non-zero Addresses just reached an ATH of 33,537,411
Previous ATH of 33,534,040 was observed on 11 January 2021
View metric:https://t.co/VtoChZbLsa pic.twitter.com/7N2kWcCvEU
— glassnode alerts (@glassnodealerts) January 12, 2021
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.


Cryptocurrency
94% of Bitcoin investors are making money
Microstrategy bought 314 more Bitcoin valued at $10 million, momentarily pushing prices above $32,000.

Published
12 hours agoon
January 23, 2021
Bitcoin investors have reasons to be excited amid a significant amount of volatility prevailing at the flagship crypto market.
The number of Bitcoin holders in profit is about 94% as data retrieved from Glassnode, a crypto analytic firm, showed.
Bitcoin Percent Addresses in Profit (1w MA) just reached a 1-month low of 93.851%.
READ: Bitcoin posts biggest daily drop since market crash of March 2020
📉 #Bitcoin $BTC Percent Addresses in Profit (1w MA) just reached a 1-month low of 93.851%
View metric:https://t.co/ik5IkrurRk pic.twitter.com/jvhN6ur50r
— glassnode alerts (@glassnodealerts) January 22, 2021
READ: Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin
Metric description; The percentage of unique addresses whose funds have an average buy price that is lower than the current price. “Buy price” is here defined as the price at the time coins were transferred into an address.
At the time of drafting this report, Bitcoin traded at$32,640.90 with a daily trading volume of $63.8 billion. Bitcoin is up 5.03% for the day.
What this means: Sequel to such metric stated above, the turnaround for investors in profit occurred some hours ago when Bitcoin dropped to $28,950 — a key level when it comes to support from large pocket investors and only its second dip below $30,000 in 2021, as a leading bitcoin investor, Microstrategy bought 314 more Bitcoin valued at $10 million, momentarily pushing prices above $32,000.
READ: 4 cryptos gain over 400% in a month, far outperforming Bitcoin
Microstrategy just bought 314 more #Bitcoin for $10M.@michael_saylor bought the dip.
— Documenting Bitcoin 📄 (@DocumentBitcoin) January 22, 2021
READ: Computers might steal Satoshi Nakamoto’s Bitcoin fortune
Chainalysis researchers explained in detail that as the rush for BTCs keeps increasing, the price will most definitely be affected. The report said:
“With more people looking to trade BTCs, which is only becoming scarcer following the recent halving, bitcoin moving from the investment bucket into the trading bucket could become a crucial source of liquidity.”
Consequently, amid the impressive metric showing a lot of Bitcoin wallets in profits, Jesse Cohen, a senior crypto analyst, in a note to Nairametrics, spoke on the outlook for Bitcoin in 2021.
“I expect Bitcoin to remain highly volatile to the downside in the new year, given the potential for more scrutiny and tighter regulation. That should see prices fall back from their record highs, with the prospect of increased regulation being the most important factor affecting Bitcoin in 2021.”
Cryptocurrency
Bitcoin posts biggest daily drop since market crash of March 2020
Some crypto experts anticipate such losses are coming from widespread profit-taking by U.S. and European investors.

Published
2 days agoon
January 22, 2021
The flagship crypto, Bitcoin, suffered massive losses in the early hours of Friday, as almost all the gains recorded in 2021 vanished into thin air, thus posting its largest daily drop since the market crash of March 2020.
- Some crypto experts posit that such losses are coming from widespread profit-taking by U.S. and European investors, and that worries about extra regulation has driven the crypto asset toward a weekly loss of more than 25%.
- Top-rated crypto assets like Ethereum plunged by almost 16%, while Chainlink also recorded double-digit percentage losses.
READ: Finance leaders of G7 countries strongly support crypto regulation
Also weighing on prevailing market conditions seen across the crypto-verse, data retrieved from Glassnode, a crypto analytic firm, reveal bitcoin $BTC Supply in Profit (1d MA) just reached a 3-month low of 16,899,766.137 BTC.
The previous 3-month low of 16,903,691.779 BTC was observed on 11 December, 2020
📉 #Bitcoin $BTC Supply in Profit (1d MA) just reached a 3-month low of 16,899,766.137 BTC
Previous 3-month low of 16,903,691.779 BTC was observed on 11 December 2020
View metric:https://t.co/FzSS3snpDH pic.twitter.com/ODVjtiOvag
— glassnode alerts (@glassnodealerts) January 21, 2021
What this means: Consequently, Jesse Cohen, a senior crypto analyst, in a note to Nairametrics, spoke on the outlook for Bitcoin in 2021.
READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy
“I expect Bitcoin to remain highly volatile to the downside in the new year, given the potential for more scrutiny and tighter regulation. That should see prices fall back from their record highs, with the prospect of increased regulation being the most important factor affecting Bitcoin in 2021.”
However, as it gained more than 300% in 2020, many crypto experts wonder if BTC can continue such rally this year.
Cryptocurrency
Investors get burnt, lose $1.6 billion in crypto within a day

Published
2 days agoon
January 22, 2021
The prevailing market condition at the crypto market led to heavy losses of global investors’ funds, when roughly $1.6 billion worth of crypto positions evaporated into thin air within a day.
The mass liquidation of such crypto holdings, according to data retrieved from Bybt, showed that such occurred before the flagship crypto dipped from $34,300 to around $29,700 at press time.
READ: Everything you need to know about Crypto Trading
For the day, about 192,005 crypto traders got liquidated.
The global crypto market value at press time was around $842.75B, a 16.40% decrease over the previous day.
- Total crypto market volume for the day stood at $169 billion, which makes a 12.17% increase.
- Total volume in DeFi is currently $14.53 billion, 8.61% of the total crypto market 24-hour volume.
- The volume of all stable coins is now $140.71B, which is 83.36% of the total crypto market 24-hour volume.
- The flagship crypto traded at $29,196.15.
- Bitcoin’s dominance is currently 64.77%, an increase of 0.16% over the day
READ: Stellar defying gravity, gains 103%
What this means: Record sell-offs have pushed Bitcoin’s year-to-date gains below 1%. The record sell-off in the crypto market is likely due to widespread profit-taking by U.S. and European investors.
Some days ago, the leading United Kingdom financial regulator, the Financial Conduct Authority, issued a piece of stern advice on crypto investments.
READ: Crypto traders suffer heavy losses of $639 million within a day
The statement highlighted the risks associated with investing in Bitcoin and other crypto assets, and warned the public that there were high chances that all their funds could be lost.
“The FCA is aware that some firms are offering investments in crypto assets or lending or investments linked to crypto assets, that promise high returns.
READ: Litecoin displaces XRP as 4th most valuable crypto
“Investing in crypto assets, or investments and lending linked to them generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.”
-
Get the scoops and market intelligence that can help
you make better investment decisions right in your
mailbox.