SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023

2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces fierce opposition with potentially huge consequences. The following opinion editorial was written by Joseph Collement, [...]

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Crypto IRA platform iTrustCapital launches a staking program

iTrustCapital, a leading crypto Individual Retirement Account (IRA) software platform, has launched a staking program that will see clients earn rewards when they hold their crypto assets within IRAs.

Amid the growth in cryptocurrency adoption and increased demand for digital assets across the investment market, iTrustCapital’s latest program is set to be another game-changer.

Investors leveraging this feature will have an opportunity to tap into tax benefits for a staking reward of 9.5% APY, the investment platform noted in a press release sent to Invezz.

iTrustCapital is a market leader when it comes to self-directed digital asset IRAs, offering solutions that allow customers to directly buy and sell different types of cryptocurrencies. Customers can also use their retirement accounts to invest in precious metals such as gold and silver.

The staking program is therefore another opportunity for clients to tap into the firm’s solutions to invest in crypto using their IRAs. Clients can use this self-directed Crypto IRA program to grow their crypto portfolio.

Staking support is currently available for Polkadot (DOT) and is open to all iTrustCapital clients. To participate, account holders need a balance of 5DOT, with passive income from staked coins of up to 9.5% APY.

The staking period will be 90 days, after which clients can choose to withdraw their DOT tokens or reinvest. According to the company, the inaugural staking pool has attracted over 3,400 clients, with more than 35% of DOT tokens staked so far.

iTrustCapital, which launched in 2018, is planning to extend the staking pools to other digital assets. In August, the US-based platform announced its total transaction volume had reached $6 billion. The figure represented a 200% increase from the $2 billion mark hit in July 2021, the month iTrustCapital added support for Enjin (ENJ) to its IRA/401k.

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ApeCoin Performance Could Attract The Whales – How About The Bulls?

ApeCoin has recently made it to the top 10 in terms of trading volume from over 100 of the largest ETH whales as seen in the past 24 hours. APE made it to the top 10 in terms of trading volume ApeCoin’s MRV has been seeing sustained growth APE price up by 1.46% The Bored Ape Yacht Club isn’t running out of cards to play with the integration of a new staking rewards program that caught the attention of many ETH whales. The developments surrounding the BAYC token could be the main culprit for its recent popularity. The buoyancy experienced with the increase in whale interest is just one of the many impressive developments happening for APE. Related Reading: QUANT Basks In Green As QNT Coin Surges 35% On 7-Day Rally ApeCoin Bullish Technical Indicators For one, ApeCoin’s MRV has been seeing sustained growth and doing tremendously well over the past month. With all of these positive indicators flashing, investors will see this as a bullish streak for APE. Additionally, APE’s market capitalization has also surged from $1.46 billion to as much as $1.65 billion as of this writing. According to CoinMarketCap, the APE price has skyrocketed by 1.46% or trading at $5.40 as of this writing. However, APE’s trading volume has seen a massive reduction from 590.45 million to 141.08 million. ApeCoin also registered a drop in terms of activity which shows the limited wallet transactions. Based on this scenario, the APE price could sink below the $5.135 key support line in the coming days. Moreover, the altcoin’s RSI at 39.64 and CMF at -0.03 also demonstrate a bearish movement. Based on the APE chart, there really isn’t much traction noted since its launch in March. Notably, APE has plunged by as much as 80% from its ATH with NFT demand going down; the demand for APE also dwindled down. There is really so much going on in the NFT market that is causing the sideways motion of ApeCoin. BAYC Innovates With Rewards Staking Program If there’s one thing really impressive about the BAYC, it is the creators who continuously reinvent themselves and innovate their brand to be more relevant to their target market. Its staking rewards program is one of its huge developments so far. With a rewards staking program, the crypto is locked up for a certain period at which you’re not allowed to trade it but it generates passive income for you as the owner. By letting someone gain access to your crypto for a prescribed time, you earn rewards. Staking rewards are extremely popular with investors because you gain more revenue by staking your altcoin especially if it’s relatively going up in value. The sneak peeks of the ApeCoin rewards staking program were rolled out on September 3. Recently, on September 22, Apecoin revealed that the rewards staking program will go live on October 31. Related Reading: Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows APE total market cap at $1.65 billion on the daily chart | Source: TradingView.com Featured image from MakeUseOf, Chart: TradingView.com

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