Core Ignition Drop Claiming Guide

Posted by
 The Core Ignition Drop, which started the rewards claim on June 10, 2024, allows Coretoshis (Core Community) to unlock incentives for their contributions and engagement in the Core Blockchain. The Incentives claimed by the participating community are based on their activities up from the day they join the program until the snapshot is taken. In this article, I will discuss how to participate in the Core Ignition Drop, its benefits, and more. What is Core Ignition? Core ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Blockchain, the program started on March 11th, 2024, and will continue for six months, providing ample time for users to participate and reap the benefits, rewarding the community for their contributions to the network. By participating, users can earn rewards while simultaneously helping to fuel the growth and adoption of the Core ecosystem. The Core Ignition Program is for both ecosystem users and We
0

Russia could use Bitcoin as a safe-haven against NATO States sanctions

Posted by



As Russia, Ukraine war tension keeps intense, the Russian president Vladimir Putin could be thinking of making Bitcoin a safe haven to mitigate the sanction placed on his country by NATO and its states allies.

On Thursday, Russian soldiers officially set foot on Ukrainian soil in one of the most trying addition endeavours ever, denoting a finish to the months-long theories of an attack and setting off a huge load of authorizations from NATO and its partners on Russia.

President Vladimir Putin’s order to invade Eastern Ukraine in a “special military operation” triggered an immediate sell-off that resulted in over half a billion dollars in losses for the crypto markets while gold prices climbed to a 13 month high.

The crypto market is expected to fall more dipper following Russia's attack on Ukraine. Cryptocurrencies have effectively lost up to 15% and more plunge is expected.
Bitcoin market. Source Coinmarketcap

Right now, we are in the middle of a risk-off market. 
A risk-off market is when stocks are selling off and investors run for shelter to bonds or gold. 

This explains why Gold has appreciated by over 4% following the Russian invasion of Ukraine. Gold is considered a risk-off Haven in a Risk Market.
Spot gold price. source: goldprice.org

History shows that risk-off markets are only temporary and can present great buying opportunities. This means that while markets are crashing, new investors will rush to buy at a low price and hold for long term. 

However there's a twist about this particular risk-off market - it's wartime. Markets will not bounce back immediately and only long term holders will be rewarded massively.

Analysts are expecting Russia to turn to Cryptocurrency to cushion the impact of sanctions from NATO states. If this happens, the market will be bullish as bitcoin may become a legal tender between war zones and the rest of the world.

According to the New York Times, “Russian companies have many cryptocurrency tools at their disposal to evade sanctions, including a so-called digital ruble and ransomware”.

President Putin's new move to accelerate the making of a legitimate and monetary structure for Bitcoin has been deciphered as getting ready for sanctions by the west after his arranged activities in Ukraine.

Stacy Herbert, a co-host of the Orange Pill Bitcoin podcast submits that Bitcoin could be one of the main issues in the Russian versus NATO/US deadlock.

“Sanctions will inevitably be met with bitcoin; facts are neither positive nor negative,” she has been quoted as saying, urging Bitcoiners to be on the lookout.

Russia being the third-biggest Bitcoin mining country with a new report by Bloomberg showing that the country's residents hold digital currencies worth more than $214 billion which is around 12% of the all-out worldwide crypto assets' worth makes experts believe Russia will sufficiently manoeuvre the sanctions laid out for it, given that cryptocurrencies are permissionless.


Spread the news

Comments

Post a Comment