Memecoin and Celestia Lead the Way
In a mixed day for cryptocurrencies, memecoin (MEME) emerged as the top performer, skyrocketing by 44.28% against the U.S. dollar. Following closely behind was Celestia (TIA), which experienced an impressive surge of 29.25% within the same trading period. Other notable gainers included zrx (0X) and worldcoin (WLD), with increases of 19.36% and 18.81% respectively.
Global Trading Volume and Rising Coins
The cumulative global trading volume for the day has reached $64.04 billion, with over 929 trading platforms and a vast ecosystem of more than 10,000 virtual currencies. Among the cryptocurrencies making headlines for their gains on Monday were filecoin (FIL), which saw a rise of 14.96%, and osmosis (OSMO), which appreciated by 12.5% in the past 24 hours. KUJI, YFI, FLOKI, and SNT also experienced significant increases.
ARK and RLB Experience Significant Declines
On the flip side, ark (ARK) suffered a setback, declining by 17.5% over a 24-hour period. Similarly, rollbit (RLB) experienced a significant slide of 12.03%. These two digital assets were the biggest losers against the U.S. dollar on Monday.
Other Cryptocurrencies in the Red
Joining ARK and RLB in the downward trend were Crypto.com's cronos (CRO), which dipped by 10.66%, and telcoin (TEL), which receded by 8.94% against the dollar. Astar (ASTR) also declined by 7.23%, while vulcan forged (PYR) fell by 7.02%. In total, 32 coins experienced a downward trend, each dipping by 1.5% or more in the past 24 hours.
Trading Volume Leaders
Tether (USDT), a stablecoin, dominated the trading volume on Monday, followed by bitcoin (BTC), ethereum (ETH), usd coin (USDC), and solana (SOL). USDT alone accounted for $33.2 billion of the $64.04 billion total trade volume for the day, while BTC represented $13.98 billion. Currently, bitcoin holds a 49.4% share of the overall cryptocurrency market's valuation of $1.4 trillion, with ethereum at 16.9%.
Share your thoughts and opinions on Monday's gainers and losers in the crypto market in the comments section below.
Frequently Asked Questions
Should you open a Precious Metal IRA
The most important thing you should know before opening an IRA account is that precious metals are not covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes all investments that are lost to theft, fire, flood, or other causes.
You can protect yourself against such losses by purchasing physical gold and silver coins. These coins have been around for thousands and represent a real asset that can never be lost. These items are worth more today than they were when first produced.
Choose a reputable company with competitive rates and quality products if you are looking to open an IRA. A third-party custodian is a good option. They will protect your assets while giving you easy access whenever you need them.
Do not open an account unless you're ready to retire. Remember the future.
How Do You Make a Withdrawal from a Precious Metal IRA?
First decide if your IRA account allows you to withdraw funds. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
You should open a taxable brokerage account if you're willing to pay a penalty if you withdraw early. If you decide to go with this option, you will need to take into account the taxes due on the amount you withdraw.
Next, you'll need to figure out how much money you will take out of your IRA. This calculation is affected by many factors, such as the age at which you withdraw the money, the amount of time the account has been owned, and whether your plans to continue contributing to your retirement fund.
Once you determine the percentage of your total saved money you want to convert into cash, then you need to choose which type IRA you will use. Traditional IRAs let you withdraw money tax-free after you turn 59 1/2, while Roth IRAs require you to pay income taxes upfront but allow you access the earnings later without paying any additional taxes.
After these calculations have been completed, you will need to open a brokerage bank account. Brokers often offer promotional offers and signup bonuses to encourage people into opening accounts. However, a debit card is better than a card. This will save you unnecessary fees.
When it's time to make withdrawals from your precious-metal IRA, you'll need a place to keep your coins safe. Some storage facilities will accept bullion bars, others require you to buy individual coins. Before you choose one, weigh the pros and cons.
For example, storing bullion bars requires less space because you aren't dealing with individual coins. However, you'll need to count every coin individually. However, you can easily track the value of individual coins by storing them in separate containers.
Some prefer to store their coins in a vault. Others prefer to store them in a safe deposit box. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
Should You Buy Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. Many people are now turning their backs on traditional investments like stocks and bonds, and instead look to precious metals like Gold.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
This could be changing, according to some experts. Experts believe that gold prices could skyrocket in the face of another global financial crisis.
They also note that gold is increasingly popular because of its perceived intrinsic value and potential return.
These are some important things to remember if your goal is to invest in gold.
- Consider first whether you will need the money to save for retirement. It's possible to save for retirement without putting your savings into gold. However, you can still save for retirement without putting your savings into gold.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each account offers different levels of security and flexibility.
- Last but not least, gold doesn't provide the same level security as a savings account. You may lose your gold coins and never be able to recover them.
So, if you're thinking about buying gold, make sure you do your research first. And if you already own gold, ensure you're doing everything possible to protect it.
Can I have physical gold in my IRA
Gold is money. Not just paper currency. It's an asset that people have used for thousands of years as a store of value, a way to keep wealth safe from inflation and economic uncertainty. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.
Many Americans now invest in precious metals. Even though owning gold is not a guarantee of making money, there are many reasons why you might want to add gold to your retirement savings portfolio.
Another reason is the fact that gold historically has performed better than other assets in times 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. During turbulent market conditions gold was one of few assets that outperformed stock prices.
One of the best things about investing in gold is its virtually zero counterparty risk. Your shares will still be yours even if your stock portfolio drops. However, if you have gold, your value will rise even if the company that you invested in defaults on its loans.
Finally, gold offers liquidity. This means that, unlike most other investments, you can sell your gold anytime without worrying about finding another buyer. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows one to take advantage short-term fluctuations within the gold price.
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's Not Exactly Legal – WSJ
How to Buy Physical Gold in An IRA
The easiest way to invest is to buy shares in companies that make gold. This method is not without risks. There's no guarantee these companies will survive. There is always the chance of them losing their money due to fluctuations of the gold price.
You can also buy gold directly. You can either open an account with a bank, online bullion dealer, or buy gold directly from a seller you trust. The advantages of this option include the ease of access (you don't need to deal with stock exchanges) and the ability to make purchases when prices are low. It is easier to view how much gold has been stored. So you can see exactly what you have paid and if you missed any taxes, you will get a receipt. There's also less chance of theft than investing in stocks.
There are however some disadvantages. Bank interest rates and investment funds won't help you. Also, you won't be able to diversify your holdings – you're stuck with whatever you bought. Finally, the taxman might want to know where your gold has been placed!
BullionVault.com has more information about how to buy gold in an IRA.
By: Jamie Redman
Title: Memecoin (MEME) Soars 44% as ARK (ARK) Declines in the 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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