Anon coin is a one of its kind coin that has recently launched in the market. With its groundbreaking policies, it has been the talk of the town since its launch. Anon coin is said to revolutionize trading and break havoc in the world of thugs. Since its launch on 6th May 2021, it has already consolidated capital amounting to three to four million dollars.
What Led To The Creation Of The Coin?
Anonymous BSC founded the Anon coin. It is a group of investors who are working to revolutionize the world of cryptocurrency. These investors have been trading in the Binance Smart Chain network. They are aware of how things work in the market. Over the period, they have observed multiple scams in the market. Scams like rinse and repeat, removing liquidity, pump and dump, etc. Such scams have bittered their experience and have also pushed away retail investors.
So they came together to create a coin called Anon coin, which restricts these scammers and prohibits illicit activities.
How Does It Help The World?
Anon coin has a unique mechanism of anti whale and anti-abuse. It makes a safe space for traders in the OTC market. To understand how it helps the traders, we first need to understand the techniques scammers use.
The anti whale is a mechanism to prohibit whales. Whales are traders who hold a large stock of coins in the market. Their actions have a direct effect on the price of the coins. They tend to engage in the practice of rinse and repeat. Through this tactic, they sell a huge chunk of their holdings thereby, creating panic among retail investors. This panic leads them to mimic whales, and they end up selling their holdings. These actions drastically reduce the price of coins. When the price is at the lowest, Whales repurchase the coins. The retail investors end up losing in such a scenario.
Anonymous BSC has provided traders a platform to file a complaint against scammers and malpractices happening in the market. The forum looks into the complaints. They make the records of the scammers public if the complaints turn out to be true.
They are making a difference by doing things that assist investors and community members. They identified a gap in the marketplace and have filled it with Anonymous BSC. Because of it, the investors can enjoy the high of trading with reduced risk.
Aspiration For The Future
Anonymous BSC wants to create a brand and a market standard for all the coins through its business practice. They want to create a space that educates investors through its website and social media platforms.
It aims to become the largest database of educational materials which provides knowledge to both beginner and expert level investors. It also is striving to create a platform that catalogs and exposes scammers. They have trained their team to scan contracts to capture abnormalities and have already exposed 2-3 scammers within a week of Anon coin’s launch.
Global Crypto Market Cap Threatens to Break Below Current 2022 Lows
The global cryptocurrency market capitalization topped during the first half of November 2021, and since then it has been on a one-way ride towards the downside. With the entire market currently trading at approximately 35% below all-time highs, many traders are now wondering whether the sellers are already exhausted, meaning that an upward shift is due in the near future, or whether the bear market still has room to go.
In such a challenging environment, trading or investing in crypto is tricky, making it difficult for traders/investors to time the market correctly, and spot key support/resistance areas on the chart. All of the variables that drove valuations higher between 2020-2021 (fiscal/monetary stimulus, weaker fiat currencies, and appetite for riskier assets) have reversed, leaving bulls stumbling for the exit.
Bitcoin weakens below $40k
Speaking of Bitcoin, the $38,000 area is regarded as key support, which might be one of the reasons why the price is still trading around it. The late-March 2022 rally failed to gather pace and now BTC finds itself trading close to the yearly lows.
Things are not looking encouraging, not just because Bitcoin lost 40% from its peak, but also based on the market share. During broad crypto selling, the BTC market dominance increased in past cycles. It doesn’t seem to be the case now, as the figure has stabilized around 42% since mid-2021. Investors want to keep a diversified exposure even during a downturn, and this is a clear signal that Bitcoin’s safe-haven status is weakening.
Major altcoins not showing signs of strength
Anyone who is just beginning to learn how to trade cryptocurrencies should know that this is an environment where caution is advised. Bitcoin aside, things are not looking very good for the altcoins sector as well. Based on the opening price at the beginning of 2022, Ethereum is down 24%, Binance Coin -26% and other tokens such as Solana are posting losses above 50%.
There this might not be the time for buy and hold, considering that valuations might be even more attractive in the future. It is possible, however, to take advantage of what retail brokerages are offering in terms of crypto trading benefits. With derivatives based on cryptocurrencies, short-selling is a viable option, making it possible to take advantage of bearish conditions.
Inflation and broad risk appetite
Rising inflation around the world set a chain of events in motion, and these events are clearly not in favor of crypto bulls. Central banks are forced to step in and normalize monetary policies in developed countries, for price increases to diminish towards their target of around 2%.
Additionally, fiscal spending is taking a few steps back, as governments need to pay higher interest on new debt or refinancing operations. During a time of rising prices, private and institutional investors need to make concessions and prioritize spending.
In such an environment, the interest in volatile assets such as crypto is very low, which explains the lack of momentum. For the time being, global capitalization is trading around $1.72 trillion and threatens to break below the 2022 low of $1.64 trillion. Until the global economy receives a new round of stimulus, there appears to be little hope for a strong bounce back to a bull run.
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