EchoLink's Trading Debut on LBank
EchoLink, the latest project on LBank's Launchpad, has generated significant excitement in the cryptocurrency market. The trading for EchoLink commenced on January 26, 2024, with an initial price of $0.01. Surprisingly, within just the first 30 minutes, the price soared to $0.0763, representing an astounding 763% increase from its Launchpad starting price.
Massive Participation and Investments
This Launchpad attracted the attention of an impressive 74,164 participants who collectively invested over 130 million US dollars. EchoLink's innovation is a major step forward in the Web3 sphere, particularly in the DePIN IoT device sector. The Launchpad has once again proven to be highly profitable for early investors, underscoring the importance of understanding this Launchpad event and the EchoLink project itself. EchoLink, designed as an IoT oracle for DePIN IoT devices and deployed on the Solana blockchain, has become the talk of the crypto community.
Launchpad Pricing Details
Starting from January 17, 2024, LBank implemented a subscription quota system to ensure fair participation for all investors. This Launchpad had a hard cap, with participants being limited to a maximum subscription of 50,000 EchoLink tokens.
Tokenomics and Use Cases
The total initial supply of EchoLink tokens stands at 1 billion. The distribution strategy includes allocations for Initial Exchange Offering (IEO), marketing, the team, ecosystem operation, and other purposes. EchoLink tokens have various use cases, including governance, staking, and accessing advanced features within the EchoLink ecosystem.
Launchpad Mechanics
The EchoLink Launchpad on LBank implemented well-designed participation rules to ensure fairness and equal access. From January 17 to January 24, 2024, LBank meticulously monitored user balances across different accounts and established investment quotas based on these averages. To be eligible, users were required to engage in at least one trade on LBank during this period.
About EchoLink
EchoLink is an innovative IoT oracle specifically designed for the growing world of DePIN IoT devices. Deployed on the Solana blockchain, it offers a comprehensive toolkit that combines software SDK and hardware design, aiming to become the infrastructure for future DePIN projects.
About LBank
LBank is a prominent cryptocurrency exchange known for its reliability and innovation. It caters to the diverse needs of traders and investors worldwide. With a commitment to excellence, transparency, and user-centric features, LBank continues to shape the landscape of digital asset exchange. From facilitating seamless transactions to staying ahead of market trends, LBank serves as a trusted gateway to the dynamic world of cryptocurrencies, offering users unparalleled opportunities and a secure trading environment.
For media inquiries, please contact:
Eddy Wang
PR Manager, LBank
Email: [email protected]
Frequently Asked Questions
How much gold do you need in your portfolio?
The amount of capital required will affect the amount you make. Start small with $5k-10k. As you grow, it is possible to rent desks or office space. You don't need to worry about paying rent every month. Only one month's rent is required.
Also, you need to think about the type of business that you are going to run. In my case, we charge clients between $1000-2000/month, depending on what they order. So if you do this kind of thing, you need to consider how much income you expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. So you might only get paid once every 6 months or so.
So you need to decide what kind of income you want to generate before you know how much gold you will need.
I recommend starting with $1k to $2k of gold, and then growing from there.
How much of your portfolio should you hold in precious metals
Before we can answer this question, it is important to understand what precious metals actually are. Precious elements are those elements which have a high price relative to other commodities. This makes them highly valuable for both investment and trading. Today, gold is the most commonly traded precious metal.
However, many other types of precious metals exist, including silver and platinum. The price volatility of gold can be unpredictable, but it is generally stable during periods of economic turmoil. It also remains relatively unaffected by inflation and deflation.
The general trend is for precious metals to increase in price with the overall market. However, they may not always move in synchrony with each other. The price of gold tends to rise when the economy is not doing well, but the prices of the other precious metals tends downwards. This is because investors expect lower interest rates, making bonds less attractive investments.
Contrary to this, when the economy performs well, the opposite happens. Investors want safe assets such Treasury Bonds and are less inclined to demand precious metals. They are more rare, so they become more expensive and less valuable.
Diversifying across precious metals is a great way to maximize your investment returns. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
Can the government take your gold?
Your gold is yours, so the government cannot confiscate it. You worked hard to earn it. It belongs to your. This rule could be broken by exceptions. You can lose your gold if you have been convicted for fraud against the federal governments. Additionally, your precious metals may be forfeited if you owe the IRS taxes. However, even if taxes are not paid, gold is still your property.
Can I have physical gold in my IRA
Gold is money, not just paper currency or coinage. Gold is an asset people have used for thousands years as a place to store value and protect their wealth from economic uncertainty and inflation. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.
Today, Americans prefer precious metals like silver and gold to stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
One reason is that gold has historically performed better than other assets during periods of financial panic. The S&P 500 dropped 21 percent in the same time period, while gold prices rose by nearly 100 percent between August 2011-early 2013. Gold was one of the few assets that performed better than stocks during turbulent market conditions.
Another benefit to investing in gold? It has virtually zero counterparty exposure. You still have your shares even if your stock portfolio falls. However, if you have gold, your value will rise even if the company that you invested in defaults on its loans.
Finally, gold is liquid. You can sell your gold at any time without worrying about finding a buyer, which is a major advantage over other investments. You can buy gold in small amounts because it is so liquid. This allows you to profit from short-term fluctuations on the gold market.
How do I open a Precious Metal IRA
First, you must decide if your Individual Retirement Account (IRA) is what you want. Open the account by filling out Form 8606. You will then need to complete Form 5204 in order to determine which type IRA you are eligible. This form should not be completed more than 60 days after the account is opened. Once this is done, you can start investing. You can also contribute directly to your paycheck via payroll deduction.
If you opt for a Roth IRA, you must complete Form 8903. Otherwise, the process will look identical to an existing IRA.
To qualify for a precious Metals IRA, there are specific requirements. You must be at least 18 years of age and have earned income to qualify for a precious metals IRA. Your earnings cannot exceed $110,000 per year ($220,000 if married and filing jointly) for any single tax year. You must also contribute regularly. These rules are applicable whether you contribute through your employer or directly from the paychecks.
You can invest in precious metals IRAs to buy gold, palladium and platinum. But, you'll only be able to purchase physical bullion. This means you won’t be able to trade stocks and bonds.
You can also use your precious metallics IRA to invest in companies that deal with precious metals. Some IRA providers offer this option.
An IRA is a great way to invest in precious metals. However, there are two important drawbacks. They aren't as liquid as bonds or stocks. It's also more difficult to sell them when they are needed. Second, they don’t produce dividends like stocks or bonds. Therefore, you will lose money over time and not gain it.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- 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)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
finance.yahoo.com
- Yahoo Finance – Barrick Gold Corporation Stock Price, News & Quote – Barrick Gold Corporation (GOLD).
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement accounts
bbb.org
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- You want to keep gold in your IRA at home? It's not legal – WSJ
How To
The best place online to buy silver and gold
Before you can buy gold, it is important to understand its workings. It is a precious metal that is very similar to platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
There are two types today of gold coins. One is legal tender while the other is bullion. Legal tender coins are designed for circulation in a country. They often have denominations like $1 or $5 or $10.
Bullion coins are minted for investment purposes only, and their values increase over time due to inflation.
They can't be exchanged in currency exchange systems. One example is that if someone buys $100 worth gold, they get 100 grams with a $100 value. Each dollar spent by the buyer is worth 1 gram.
You should also know where to buy your gold. If you want to purchase gold directly from a dealer, then a few options are available. First, go to your local coin shop. You can also try going through a reputable website like eBay. Finally, you can look into purchasing gold through private sellers online.
Private sellers are individuals who offer to sell gold at retail or wholesale prices. When selling gold through private sellers, you pay a commission fee of 10% to 15% per transaction. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. This is a great option for gold investing because you have more control over the item’s price.
Another way to buy gold is by investing in physical gold. Physical gold is much easier to store than paper certificates, but you still have to worry about storing it safely. It is important to keep your physical gold safe in an impenetrable box such as a vault, safety deposit box or other secure container.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can give you a loan up to the amount you intend to invest in Gold. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks tend to charge higher interest rates, while pawnshops are typically lower.
Finally, another way to buy gold is to simply ask someone else to do it! Selling gold is easy too. A company such as GoldMoney.com can help you set up a simple bank account and get paid immediately.
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By: Media
Title: EchoLink’s Launchpad on LBank Witnesses Remarkable Surge in First 30 Minutes
Sourced From: news.bitcoin.com/echolinks-launchpad-on-lbank-witnesses-over-763-surge-within-the-first-30-minutes/
Published Date: Fri, 26 Jan 2024 14:15:04 +0000
