NEW YORK, Oct. 27, 2022 (GLOBE NEWSWIRE) — Yesterday’s latest news for all crypto lovers was inspiring – for the first time in a long time, the top cryptos on CoinMarketCap were in the green again. The leaders for this Wednesday are as follows: Cardano is up 14%, Ethereum is up 11%, Solana is up 10%, and Dogecoin is up 7% for the day. Bitcoin increased its value by 4% and passed the $20,000 mark.
Let’s review the reasons and potential for the crypto community.
Why is crypto up?
Why did crypto go up on October 25? The first reason comes from the UK – Rishi Sunak, the new UK Prime Minister, is a proponent of crypto. The crypto experts who worked with Sunak in previous years hailed his appointment today.
During his tenure as Chancellor of the Exchequer, Sunak introduced the Financial Services and Markets Bill with the UK’s economic strategy. And here is the second answer to the question “Why is crypto up?” – On October 25, the House of Commons in the UK Parliament voted to recognize cryptos as “regulated financial instruments” in this bill. This means the government will bring stablecoins into the UK payment system and “enable consumers to use stablecoin payment services with confidence.”
The third answer comes from the US, where stock markets are soaring these days – the Nasdaq is up 1.7% and the S&P 500 is up 1.2%. Bitcoin and other cryptocurrencies are highly correlated with US tech stocks, and their price dynamics strongly influence the crypto market.
Crypto Volatility vs Instant Exchange Tools
While it may be too early to judge whether the new bull run is upon us, the market has reacted: ChangeNOW is experiencing an increase in trading activity as you read this. Users made almost 15% more cryptocurrency exchanges compared to the previous days.
This means that crypto enthusiasts quickly seize the opportunity to make money that the market offers. They understand that in a volatile environment, quick decisions are king. Leading crypto exchanges and services understand this very well and provide the crypto community with a better trading experience.
ChangeNOW, a no-holds-barred instant exchange service, is no exception. Users can freeze the exchange rate for 2 minutes and exchange almost 1000 cryptocurrencies in just four clicks. There are no problems with registering and entering the account – the service is registration-free.
If cryptocurrencies are growing over the next few weeks, now could be the perfect time to enter the market – as the accumulation phase unfolds. Please do not take this as financial advice and do your own research before shopping.
How to protect funds in a bull run
As market activity increases, so do all risks – including those associated with the safety of funds. Hackers are becoming more active and hunting poorly secured wallets. Centralized exchanges are well protected, but still not truly secure – they store private data that can leak, and they also have the technical means to freeze the account if they deem it necessary.
In NOW Wallet, the development team took care of all these threats – users’ private keys are stored locally on their devices and protected by multiple layers of encryption. Traders are the owners of their coins. When the uptrend reaches its highest point, the user can easily exchange or sell crypto directly within the NOW Wallet or via the ChangeNOW instant swap platform.
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Change NOW is a user-friendly platform for instant, limitless and registration-free cryptocurrency exchange, founded in 2017. Currently, there are almost 1000 coins available on the platform for exchange. As a non-custodial service, it does not store users’ funds.
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