Cryptocurrency News by Bitcoin Romania, October 2022

Mon | 24.10.2022

FX & Currency

In this cryptocurrency era, things are moving faster than ever, so you'd better keep one eye constantly on the market changes. Find out what are the top performance leaders in the past 5 days.


Inside China's Crypto Scene, a Year After Sweeping Crackdown

This summer, word started spreading over Chinese social media about a conference in Dali, a city nestled among 4,000-meter (13,100-foot) peaks in the country’s southwest. 

The organizers expected fewer than 200 attendees, but ended up selling out the 1,000-person venue only to see more than double that number ultimately show up for the August event. The topic of the gathering: crypto, the sector China’s government declared largely illegal a year ago.

Before the clampdown, China was emerging as the epicenter of the crypto world, spawning giant exchanges like Binance Holdings Ltd. and the biggest Bitcoin mining firms. Beijing’s move to banish cryptocurrency trading and mining, announced in September 2021, seemed poised to snuff out the entire domestic industry. 

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The Most Sustainable Cryptocurrency to Buy in 2022

Many of the most energy-efficient cryptocurrency projects ensure sustainability is high on their list of priorities, helping them appeal to a broader audience of potential investors. Listed below are ten of these projects, each of which will be reviewed thoroughly in the following section: 

  1. IMPT (IMPT) – The Most Sustainable Cryptocurrency in 2022
  2. Chia (XCH) – Popular Sustainable Cryptocurrency in 2022
  3. Ethereum (ETH) – Best Sustainable Cryptocurrency for dApp Developers
  4. Tezos (XTZ) – The Most Sustainable Crypto in the Blockchain Niche
  5. Polygon (MATIC) – Sustainable Scaling Solution for the Ethereum Blockchain
  6. Avalanche (AVAX) – Highly-Scalable Blockchain with Low Energy Requirements
  7. Algorand (ALGO) – Environmentally-Friendly Blockchain With Impressive Sustainability Practices
  8. Ripple (XRP) – Leading Sustainable Energy Crypto in the Payments Sector
  9. TRON (TRON) – Low-Energy Network Using Delegated Proof-of-Stake (DPoS) Consensus Protocol
  10. Stellar (XLM) – Sustainable Payments Network With CO2 Removal Pledge
  11. Cardano (ADA) – Popular Blockchain with Strong Sustainability Mission

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15 Best Cryptocurrency to Buy Right Now

The 15 best crypto to buy now, according to our own research findings, can be found on the list below:

  1. Dash 2 Trade - Crypto Analytics Platform with Automated Trading 
  2. IMPT - Best Crypto to Invest in with Earn Rewards for Burning Carbon Credits 
  3. Tamadoge - Trending P2E Coin to Buy Now after IEO Pump
  4. Battle Infinity - Up-and-Coming Metaverse and P2E Gaming Ecosystem
  5. The Hideaways - Real Estate Investment Simplified 
  6. Lucky Block - NFT Rewards and Competition Platform
  7. MetaBlaze - New Presale Project Offering Unique Rewards
  8. Bitcoin - De-Facto Crypto to Buy at a Huge Discount
  9. Ethereum - Opportunity to Buy Before the PoS Upgrade
  10. BNB - Native Token of the World’s Largest Crypto
  11. XRP - Solid Cross-Border Payments Network for Banks
  12. Dogecoin - Popular Meme Coin Trading at a Discount
  13. Uniswap - Growing Decentralized Exchange
  14. Shiba Inu - Meme Coin Looking to Compete with Dogecoin
  15. Monero - Privacy-Focused Coin with an Established Status

The above projects have been identified based on various factors - such as the upside potential, current market capitalization, and valuation based on prior all-time highs. 

Many of the cryptos featured in this article are also used by many crypto investors to build the best crypto portfolio allocation of 2022.

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Bank of America Survey: Young People 7.5x More Likely to Hold Crypto

Young Americans aged between 21 and 42 are 7.5 times more likely to hold crypto in their portfolios than investors over 43, a new survey from Bank of America shows.

According to the survey, younger Americans with money to invest are also less interested in stocks than older investors, with the younger cohort instead viewing crypto and other so-called alternative investments as their “No. 1 choice.”

An alternative investment normally refers to investments in any other asset than stocks, bonds and cash. This investment category has become increasingly popular in recent years, as many investors have seen the stock market as overvalued and risky, while bank savings have paid out interest rates far below the rate of inflation in most Western countries.

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Elon Musk's Tesla Still HODLing $218M in Bitcoin

Tesla's Bitcoin holdings remain unchanged from the second quarter of 2022, according to documents released by the electric car manufacturer ahead of its third-quarter investor relations call.

In Tesla's report released to the public on Wednesday, the company says it still holds $218 million in Bitcoin. In July, Tesla announced that it sold 75% of its Bitcoin holdings, around $936 million at the time. After the sale, Tesla reported it continued to hold $222 million worth of "digital assets" on its balance sheet as of the end of June.

During the Q2 investor call, Musk had said the company sold its Bitcoin to free up cash as COVID lockdowns continue in China. "It was important for us to maximize our cash position, given the uncertainty of COVID lockdowns in China," he explained.

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This article is provided by our Cryptocurrency Partner, Bitcoin Romania.

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