Memecoin Leads the Way
On Monday, the cryptocurrency market saw several virtual currencies experience significant gains, with memecoin (MEME) leading the charge. MEME surged by an impressive 44.28% against the U.S. dollar, making it the top performer of the day. Celestia (TIA) also made notable strides, rising by 29.25% within the same timeframe. Other cryptocurrencies that saw double-digit increases include zrx (0X) with 19.36% and worldcoin (WLD) with 18.81%.
Top Gainers and Trading Volume
The total global trading volume for the day reached $64.04 billion, spread across 929 trading platforms and over 10,000 virtual currencies. Alongside MEME, filecoin (FIL) gained 14.96% and osmosis (OSMO) appreciated by 12.5%. Notable risers of the day also included KUJI, YFI, FLOKI, and SNT.
ARK and RLB Experience Significant Declines
While some cryptocurrencies enjoyed gains, others experienced significant losses. ARK, in particular, tumbled by 17.5% within 24 hours, making it the biggest loser of the day against the U.S. dollar. Rollbit (RLB) also saw a decline of 12.03%. Crypto.com's cronos (CRO) dipped by 10.66%, telcoin (TEL) receded by 8.94%, Astar (ASTR) declined by 7.23%, and vulcan forged (PYR) fell by 7.02%. In total, 32 coins experienced a downward trend of 1.5% or more.
Trading Volumes and Market Share
The stablecoin tether (USDT) had the highest trading volume of the day, followed by bitcoin (BTC), ethereum (ETH), usd coin (USDC), and solana (SOL). USDT accounted for $33.2 billion of the total trade volume, while BTC represented $13.98 billion. Currently, bitcoin holds a 49.4% share of the cryptocurrency market's $1.4 trillion value, with ethereum holding 16.9%.
In conclusion, on Monday, memecoin (MEME) experienced a significant surge, while ARK faced a notable decline. The cryptocurrency market continues to exhibit volatility, with various virtual currencies making substantial gains and losses. What are your thoughts on these market movements? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
How does gold perform as an investment?
The supply and demand for gold affect the price of gold. Interest rates can also affect the gold price.
Gold prices are volatile due to their limited supply. Physical gold is not always in stock.
What is a Precious Metal IRA?
An IRA with precious metals allows you to diversify retirement savings into gold and silver, palladium, rhodiums, iridiums, osmium, or other rare metals. These are called “precious” metals because they're very hard to find and very valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Bullion is often used to refer to precious metals. Bullion refers simply to the physical metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. You'll get dividends each year.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, you pay a small percentage tax on the gains. Additionally, you have access to your funds at no cost whenever you need them.
Is the government allowed to take your gold
Your gold is yours and the government cannot take it. You earned it through hard work. It belongs to you. This rule could be broken by exceptions. For example, if you were convicted of a crime involving fraud against the federal government, you can lose your gold. Your precious metals can also be lost if you owe tax to the IRS. You can keep your gold even if your taxes are not paid.
What are the pros & con's of a golden IRA?
An Individual Retirement Account is a more beneficial option than regular savings accounts. You don't pay taxes on any interest earned. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. This type of investment has its downsides.
If you withdraw too many funds from your IRA at once, you may lose all your accumulated assets. The IRS may prevent you from taking out your IRA funds until you reach 59 1/2. A penalty fee will be charged if you decide to withdraw funds.
You will also need to pay fees for managing your IRA. Many banks charge between 0.5%-2.0% per year. Others charge management fees that range from $10 to $50 per month.
If you prefer your money to be kept out of a bank, then you will need insurance. Most insurers require you to own a minimum amount of gold before making a claim. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you choose to have a gold IRA you will need to establish how much gold to use. Some providers limit the amount of gold that you are allowed to own. Others allow you to pick your weight.
It's also important to decide whether or not to buy gold futures contracts. Physical gold is more costly than gold futures. Futures contracts allow you to buy gold with more flexibility. They enable you to establish a contract with an expiration date.
You'll also need to decide what kind of insurance coverage you want. The standard policy does NOT include theft protection and loss due to fire or flood. It does include coverage for damage due to natural disasters. You might consider purchasing additional coverage if your area is at high risk.
In addition to insurance, you'll need to consider the cost of storing your gold. Storage costs are not covered by insurance. For safekeeping, banks typically charge $25-40 per month.
To open a IRA in gold, you will need to first speak with a qualified custodian. A custodian is responsible for keeping track of your investments. They also ensure that you adhere to federal regulations. Custodians aren't allowed to sell your assets. Instead, they must hold them as long as you request.
After you have decided on the type of IRA that best suits you, you will need to complete paperwork detailing your goals. You must include information about what investments you would like to make (e.g. stocks, bonds and mutual funds). Also, you should specify how much each month you plan to invest.
After filling in the forms, please send them to the provider. After reviewing your application, the company will send you a confirmation mail.
A financial planner is a good idea when opening a gold IRA. Financial planners have extensive knowledge in investing and can help determine the best type of IRA to suit your needs. They can help reduce your expenses by helping you find cheaper alternatives to buying insurance.
What proportion of your portfolio should you have in precious metals
First, let's define precious metals to answer the question. Precious metals are those elements that have an extremely high value relative to other commodities. This makes them highly valuable for both investment and trading. Gold is by far the most common precious metal traded today.
There are however many other types, including silver, and platinum. While gold's price fluctuates during economic turmoil, it tends to remain relatively stable. It is also unaffected significantly by inflation and Deflation.
As a general rule, the prices for all precious metals tend to increase with the overall market. But they don't always move in tandem with one another. If the economy is struggling, the gold price tends to rise, while the prices for other precious metals tends to fall. This is because investors expect lower interest rates, making bonds less attractive investments.
When the economy is healthy, however, the opposite effect occurs. Investors choose safe assets such Treasury Bonds over precious metals. Because they are rare, they become more pricey and lose value.
You must therefore diversify your investments in precious metals to reap the maximum profits. Because precious metals prices are subject to fluctuations, it is best to invest across multiple precious metal types, rather than focusing on one.
What precious metals do you have that you can invest in for your retirement?
The best precious metal investments are gold and silver. They're both easy to buy and sell and have been around forever. They are a great way to diversify your portfolio.
Gold: Gold is one of man's oldest forms of currency. It is stable and very secure. This makes it a good option to preserve wealth in uncertain times.
Silver: Investors have always loved silver. This is a great choice for people who want to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It's durable and resists corrosion, just like gold and silver. It is, however, more expensive than its competitors.
Rhodium. Rhodium is used as a catalyst. It's also used in jewelry making. It's also relatively inexpensive compared to other precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also more affordable. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
irs.gov
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
finance.yahoo.com
cftc.gov
How To
Tips for Investing with Gold
Investing in Gold has become a very popular investment strategy. This is because there are many benefits if you choose to invest in gold. There are several options to invest in the gold. Some people buy physical gold coins, while others prefer investing in gold ETFs (Exchange Traded Funds).
Before you buy any type of gold, there are some things that you should think about.
- First, you must check whether your country allows you to own gold. If so, then you can proceed. Or, you might consider buying gold overseas.
- Second, it is important to know which type of gold coin you are looking for. There are many options for gold coins: yellow, white, and rose.
- Thirdly, you should take into consideration the price of gold. Start small and move up. One thing that you should never forget when purchasing gold is to diversify your portfolio. Diversify your investments in stocks, bonds or real estate.
- Remember that gold prices are subject to change regularly. You need to keep up with current trends.
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By: Jamie Redman
Title: Memecoin (MEME) Soars 44.28% as ARK Declines 17.5% in Cryptocurrency Market
Sourced From: news.bitcoin.com/cryptos-24-hour-score-gainers-like-memecoin-triumph-with-double-digits-ark-amongst-top-losers/
Published Date: Mon, 13 Nov 2023 15:30:42 +0000
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