Arbitrum Airdrop Confirmed!
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
(Source: Kucoin BTC/USDT)
The events of the past week have been absolutely phenomenal for BTC. The distrust for the banking system has risen again ever since the collapse of Silicon Valley Bank, USDC was depegged temporarily, and market hope that the FED will be putting a halt to interest rate hikes in support for these US banks have all led to pushing BTC back above $25k, even going as far as wicking to $26k!
Last week we were talking about how seeing $20k would be a possibility, especially since BTC fell below its 50-day moving average (blue), and we were discussing how a drop to this price would actually be beneficial to reset BTC’s RSI and to catch support on our 200-day moving average (orange).
However, what we did not know would push BTC down was the endless regulatory news that was coming out for different firms; at the end of the day, the market will go where it needs to go. It could not have been a better setup. As BTC returned to near $20k levels, BTC was able to catch support on both the historical supply/demand level of $20k and its long-term 200-day moving average, and with the combination of catalyst events that we say occurred in the past week, it was a no brainer that BTC would make a very significant move from $20k. Just look at the chart! BTC just beautifully bounced significantly from an area of indicator confluence with both the $20k support level and the 200 day moving average meeting each other.
This bounce combined with macro news had enough effect to push BTC back up to the $24k to $25k range, with BTC wicking to $26k and then falling back into the $24.5k range. Again, a wick above $25k does not necessarily mean that we will break over it, even though we did touch $26k. On the daily chart, the wicks are actually showing that $25k is acting as a very strong resistance level that has slowed down BTC’s rally this week. If BTC fails to break above $25k or trade along the $25k level, then I can see a scenario where BTC simply returns back to its 50-day moving average of about $23,000.
However, if BTC is actually able to confirm a break past $25k, and this will take some more macro catalyst news to give BTC the momentum to do so, then it is all systems go for $28k. At this point on the daily chart as well, BTC is above both its 50-day and 200-day moving averages, which will further aid in BTC’s momentum towards the upside.
(Source: Kucoin BTC/USDT)
Our push down to $20k was very justified on the weekly chart, especially because BTC played out a death cross scenario; however, BTC’s push back towards $25k is challenging a confirmation for further downside as BTC is now trading right at the intersection point between the 50-day moving average, the 200-day moving average, and the $25k level.
There is significant potential for BTC to reverse this death cross pattern that we have seen as we have just made a strong weekly candlestick back to $25k, which is above our 50-day moving average on the weekly chart. We will need to see a strong weekly chart above $25,000 to be sure of a true reversal to the upside.
A big concern with a lot of crypto investors is where they should park their funds now when they do not want to have all of their funds in volatile assets. With USDC depegging over the past weekend and almost every stablecoin with any affiliation or exposure to USDC temporarily falling, investors are now concerned over where they should really be parking their funds.
The dilemma was that banks can’t be trusted, stablecoins can’t be trusted, and people don’t want to easily be able to quickly move from fiat to crypto, hence why they just buy stablecoins instead.
Another big reason why BTC was surging was that the next best bet for a lot of investors was to just purchase BTC. In my opinion, yes, BTC really is a viable option to easily be able to move from one asset to another, with BTC being fundamentally a hedge against inflation and the least volatile crypto. However, the fact of the matter is, BTC still moves around in price, and you will not have a true stable state for your sidelined funds. This does not apply for those who just DCA in BTC over the long term. Historically speaking, BTC has always won in the long term, but how about those who need to sideline their funds for the short term?
What I really think the best thing investors could do is in fact diversify. The core concept of every investor’s portfolio and of mitigating risk is diversification.
For those who were all in BTC, they would have seen a loss in their portfolio in the past week. Those who had a significant amount of their holdings in USDC were scared that USDC would lose a significant amount of its peg, and thus they sold USDC at a loss due to fear.
Investors lost trust in centralized entities, and that is another reason why people don’t think that fiat or even USDC is entirely safe.
Really, the best thing that could be done is to diversify amongst BTC and various stablecoins across different underlying mechanisms in order to park your funds.
USDC lost its peg due to fears that USDC had some of its reserves at SVB; however, $3.3 billion out of $40 billion could have easily been covered by backers of Circle and even by entities such as Coinbase. Therefore, there was actually a floor for USDC, not allowing it to fundamentally fall through the floor.
The same case would go for assets that only had some exposure to their Treasury in USDC. Stablecoins such as DAI or even TOR, which have a diversified reserve but are not fully USDC-backed, would be decent diversification options due to the fact that, even if USDC were to have fallen through to $0, you would be minimizing significant risk. Granted, based off of Circle having a very
One of the biggest gainers in the stablecoin project sector was $LQTY, which surged by +62.7% in just the past week. This is yet another instance where investors are trying to explore and see what else there is besides USDC as a stablecoin substitute. It seems like assets that are collateralized by big cryptos such as BTC or ETH are in favor, as well as LQTY’s stablecoin, which is collateralized by ETH at 0% interest. The only risk with this is that if there is a major black swan event in crypto, then collateralizing your crypto could be a negative thing.
Sure, ChatGPT and the AI sector are not necessarily a truly correlated sector to the crypto industry, but regardless, AI does seem to affect the AI token sector at times and is a tool to be used by almost every single crypto researcher, developer, and investor in the future.
Keeping up with the latest and greatest in AI innovations, OpenAI, the creator of ChatGPT, has just launched their new upgraded version of their AI text language, and instead of only writing essays, code, or answers to just about anything, which is already cool, GPT-4 now brings a whole new world of AI text language with image text generation and answering.
This means that just by giving the GPT-4 AI a picture, which users may now upload into the AI platform, the GPT-4 AI will be able to describe the photo, answer questions about the photo, answer questions about what will happen if something in the picture changed, and even be able to describe or identify a face in the image.
OpenAI has further advanced their AI product by not only having the ability to do all things text, but with the integration of image uploads, the way that we will be able to interact with AI has just got so much more interesting.
OpenAI’s products are still limited by inaccurately providing information regarding a certain topic or question and by being limited to information capped at 2021; however, by being able to upload images, this will make using OpenAI’s platforms so much more intuitive and useful.
Let’s say that we have a question about a blueprint, a diagram, or an image from a video. It is inefficient to try and explain what is going on to ChatGPT, and it is impossible to truly tell what is going on without being able to show an image of what you are referring to. By being able to show GPT4 exactly what we are referring to from an image of a diagram, we can get AI to write out or explain the schema of it. Write code based off of it. And so much more.
Once again, even though GPT4 and OpenAI does not have a direct correlation and even though the true purpose of AI in blockchain technology is widely debated upon, we have to admit that new developments in AI technology does affect the AI sector’s price in the crypto space as we have seen a surge in price for The Graph, SingularityNet, Ocean Protocol, and Fetch.AI by +11% to +24% in just the past week, granted Bitcoin also saw large gains in the market, pushing the entire industry up as a whole. These tokens did however surge significantly close to the time of GPT4 launch.
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
March 17, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Could
March 14, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) All
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14.6. These Terms and any action related thereto shall be governed by and shall be construed in accordance with the Laws of the British Virgin Islands. All claims and disputes arising under or relating to this Agreement are to be settled exclusively by the competent courts in the British Virgin Islands. For the avoidance of doubt, and without limiting the generality of the foregoing, this provision expressly applies to any claim, whether in tort, contract or otherwise, against Hector Network. You irrevocably and unconditionally agree and consent to the jurisdiction and venue of the courts of the British Virgin Islands, and you waive any objections thereto, including under the doctrine of forum non conveniens or other similar doctrines. You and Hector Network agree that any Party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. Any relief awarded to any one user of the Services cannot and may not affect any other users of the Services.
14.7. Any waiver of any provision of the Terms on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion. Any delay or failure in exercising any right shall not constitute a waiver unless such waiver is confirmed in writing.
14.8. If any part of any section of these Terms is held invalid or unenforceable, that part will be construed in a manner to reflect, as nearly as possible, its original meaning while remaining valid and enforceable or if not possible shall be deemed deleted and the remaining part of the section and/or of these Terms will remain in full force and effect.
14.9. These Terms are the final, complete and exclusive agreement between you and Hector Network with respect to the subject matter hereof and supersedes and merges all prior discussions, agreements or representations between you and Hector Network with respect to such subject matter.
Welcome to the Hector Network platform (“we”, “us” or “Hector Network”). Hector Network is developing an ecosystem which consists of various innovative developments and applications (“Services”). The Hector Network platform is accessible on www.hector.network and any other sites or subdomains of Hector Network (“Site”).
To provide our Services we may collect some of your data some of which may under certain circumstances be considered personal information. We at Hector Network are committed to fully protecting your privacy and being a responsible and transparent custodian of the information we collect.
Therefore, please find all the necessary information on how we may collect and process your personal data gathered in connection with your use of our Site and our Services in this Privacy Notice.
Notice: Please, read this Privacy Notice carefully and in addition to the Terms and Conditions to understand our practices regarding the information that may be considered personal. If you do not wish for your personal information to be used in the manner described herein, you should not access our Site and all subdomains thereof, utilise our Services, participate in the offering of our tokens or otherwise provide Hector Network with your information which may be considered personal.
Please ensure that any relevant individuals are made aware of this Privacy Notice prior to providing their information to us or us obtaining their information from another source. In such a case, you or they must first ensure that you or they have the authority and appropriate legal basis to do so.
We do not knowingly collect or ask for data, including personal information, from people under the age of 18. If you are such a person, please do not use our Service or send us your data. Otherwise be informed that we erase such data the moment we learn it is collected from a person under the age of 18.
The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.