• Conflux (CFX) is a permissionless Layer 1 blockchain with a decentralized economic-driven governance system.
• Currently, the price of CFX is in the range of $0.3235 and its 24 hour trading volume is $295,345,570.
• In Conflux (CFX) price prediction 2023, it is expected that CFX might reach a resistance level of $0.6123 or fall to $0.3061 depending on the current trend.
What is Conflux (CFX)?
Conflux (CFX) is the native cryptocurrency of Conflux which is a permissionless Layer 1 blockchain that employs a decentralized economic-driven governance system. The cryptocurrency can be used for transaction fees, staking rewards, mining rewards and network governance.
Current Market Status
Currently, Conflux (CFX) holds the 65th position on CoinGecko and its current price is $0.343749 while its 24 hour trading volume stands at $295,345,570 and it has seen 3.1% up in its 24 hour price change. The all-time high for CFX was recorded on March 27 2021 when it touched the mark of $1.70.
Conflux (CFX) Price Prediction 2023
The chart laid out by TradingView shows that CFX has formed a descending triangle pattern indicating bearish signals as sellers are becoming more aggressive than buyers. If this trend continues then CFX might reach resistance levels of $0.4862 and $0.6123 whereas if there’s a reversal then it may fall to as low as 03061$. According to CoinGecko analysis bullish predictions for 2023 stand at around$0.4043 -$1 .3479 whereas bearish predictions stands at around 0 . 0492 .
Support & Resistance Levels
The chart below shows the support and resistance levels of Conflux (CFX). Currently ,the support level stands at around 0 . 3235and resistance level stands at around 0 . 6123 .
In conclusion , according to our analysis we predict that CFX might reach upto 0 . 8 soon based on its current trend but anything can happen in crypto markets so investors should do their own research before investing in any crypto asset like Conflux(CFF).
•Trust Wallet, one of the largest self-custodial and multi-chain mobile wallets, has partnered with Coinpanda, Koinly and CoinTracker to offer its users free insights reports as well as a quick and easy way to generate tax reports.
•The new integration makes it easier for users to comprehend their cryptocurrency tax liability and manage the challenges of reporting during the upcoming tax season.
•Users that use Trust Wallet and one of its partner services will get a discount when creating their tax report.
Trust Wallet Offers Simplified Crypto Tax Reporting
Trust Wallet, one of the largest self-custodial and multi-chain mobile wallets, has announced today that it has integrated with Coinpanda, Koinly, and CoinTracker to offer its users free insights reports to gain a deeper understanding of their cryptocurrency holdings as well as a quick, easy, and reasonably priced way to generate tax reports to better adhere to crypto tax regulations.
One-Click Service with Discounts
Users of Trust Wallet can now take advantage of a seamless one-click service without having to manually input information thanks to the new integration, which makes it easier for users to comprehend their cryptocurrency tax liability and manage the challenges of reporting during the upcoming tax season. All Trust Wallet users will pay less for a complete tax report when utilizing any partner service, and holders of 50 $TWT will also enjoy further reductions.
Understanding Tax Liabilities is Important
Understanding tax liabilities is one of the most important issues for customers during tax season, thus Trust Wallet released its new functionality in response to user demands. The function acts as an optional reference tool to make it easier for users to adhere to local tax laws.
Excited Partnerships With Coinpanda & CoinTracker
„We’re committed to making the Trust Wallet experience as seamless as possible for our users,“ said Eric Chang from Trust Wallet’s Head of Product. „We are very excited to partner with Trust Wallet!“ said Eivind Semb from CEO & Founder at Coinpanda. „At CoinTracker our mission is enable everyone use crypto with peace mind,“ said Vera Tzoneva from COO at CoinTracker.
With this new feature, we’re taking another step towards empowering our users with insights so they can easily understand their cryptotax liabilities while simplifying the crypto tax reporting process in order adhere local laws effectively during taxes seasons
• Binance CEO Changpeng Zhao (CZ) declared that the exchange will move the remaining money in the Industry Recovery Initiative into Bitcoin (BTC), Binance Coin (BNB), and Ethereum (ETH).
• Binance converted BUSD to USD through Uniswap at 05:31:47 UTC on March 13.
• Signature Bank is the third New York bank to fail after Silvergate Bank and Silicon Valley Bank.
Binance Swaps $1 Billion Industry Recovery Funds
Binance CEO Changpeng Zhao (CZ) came to Twitter in the midst of the bank and stablecoin crisis to declare that the exchange will be switching the remaining BUSD from the $1 billion Industry Recovery Plan to native crypto, Bitcoin, and Ethereum. The Binance Industry Recovery Initiative wallet held 985,088,975.25 BUSD (equivalent to $979,867,018.59) per data gathered by Etherscan. With this failure of crypto-friendly institutions and depeg events of stablecoins, Binance decided to convert these funds into BTC, ETH and BNB via Uniswap at 05:31:47 UTC on March 13th.
Crackdown on Crypto-Friendly Banks
Signature Bank is the third New York bank to fail after Silvergate Bank and Silicon Valley Bank due to a crackdown on crypto-friendly banks by U.S authorities. As a result of this, users are now unable to use their BUSD Auto-Conversion policy as it was turned off last Saturday before March 18th 6 AM UTC. CZ has also announced that they’ll begin trading various other stablecoins such as USDT, USDP etc in place of their own native token.
Transparency & Exchange
To ensure transparency with its user base, CZ has promised that some fund movements will take place on chain while they switch over their funds from their recovery plan wallet into BTC, ETH & BNB tokens within their exchange platform for users who wish convert these tokens as well before March 18th 6 AM UTC .
The implications for moving all these funds can have a positive effect depending upon how these tokens perform within their respective markets during this time period however it’s important for cryptocurrency enthusiasts alike should keep up with current news related developments occurring in order understand how much impact these decisions can have upon future market prices or trends which could affect them either positively or negatively .
It’s clear that despite all challenging times currently happening within financial markets today , many exchanges still remain hopeful towards future growth and development which is why they’re taking necessary steps like converting industry recovery funds into native cryptocurrencies so that they may benefit more users in order maximize overall profits while providing them greater access than ever before
• SEC issued a Wells Notice to Lido’s Staking service, causing the value of its LDO token to decline by 10%.
• David Hoffman of the Bankless crypto podcast had made a statement about Lido getting a Wells Notice but retracted it soon after.
• If accurate, this could indicate the SEC is increasing its investigation into Ethereum and cryptocurrency staking.
SEC Issued Wells Notice to Lido
The US Securities and Exchange Commission (SEC) sent out a Wells Notice to the biggest Ethereum staking provider, causing the value of its LDO token to decline by 10%. A Wells Notice is a letter from the SEC outlining potential charges that might be filed. This news caused speculation regarding the SEC’s increased investigation into Ethereum and cryptocurrency staking.
David Hoffman’s Statement
David Hoffman of the Bankless Crypto Podcast initially said he’d heard that Lido and other crypto projects had been issued with Wells Notices on Friday. However, he quickly retracted his statement when it became viral on Twitter and stated that there was only one confirmed Wells Notice which wasn’t known to the public yet.
If these reports are accurate, then technically, it was not just Lido who received this notice but also other members of their Decentralized Autonomous Organization (DAO). The DAO is essentially just a loose confederation of people who possess their own LDO tokens in Lido and make decisions without any central authority.
How Did The SEC Notify?
It remains unknown how exactly didthe SEC notified this news as there is no clear authority in charge at DAO.
Although David Hoffman has retracted his statement about multiple crypto projects receiving Wells Notices, if accurate, this could indicate an increased investigation from the SEC into Ethereum and cryptocurrency staking services such as those run by the Lido DAO.