The cryptocurrency boom of 2017 has created a sort of Wild West of asset trading under the crypto umbrella. Traders that have never had a chance to join in things like day-trading and stock investing are now seizing the opportunities that this new market has given them.
With this new market with its new players has come a plethora of new tools and techniques that are adapted for the crypto-world. Many have found great success using and developing these, however currently those working within this environment have to use an amalgamation of different tools from many different sources. is working to bring this all together for increased efficiency and a real community.
Why Use FTEC?
It’s a simple fact that the majority of cryptocurrency holders are not using them as a currency. The issues with that are an entirely different matter, but in the meantime looking at cryptos as a trade commodity is not an incorrect viewpoint.
FTEC has decided to aim their sights on this large sector of the crypto-world and in doing so are offering what amounts to an armory of trading tools designed specifically from analyzing on a day-to-day basis while automating the process in ways that a single human cannot compete.
The result of all this being that FTEC now has an incredibly efficient and knowledgeable platform for those wishing to jump into trading. Their own social bots crawl Twitter, and other feeds to keep the most up to date information available for users to decide when and what to trade at any given moment while the platform offers high speed and safe transactions.
Furthermore, the FTEC platform constantly analyzes a trader’s past and current performance and help keep track of where previous trades may have gone wrong or when one traded correctly.
The FTEC Token
The Token is where the platform really offers something unique. The automation of trading was the main goal behind the FTEC project, meaning smart algorithms can decide for and trade for the user with a highly accurate bias for the best deals.
However, for this to work on a large scale a queue has to be formed for trades to occur for different users. The solution is simple enough, and the reason for the token. The FTEC token is a tool in itself to allow the user to control where they are in the queue. Selling off tokens pushes the holder further back and buying tokens pushes them further ahead, depending on how they feel about the trade that is occurring.
The token also allows for voting on decisions within the ecosystem about the vector which trading will occur. This means that those within the community who are trading will deliberate and push towards the best choice for the greatest possible outcome.
FTEC has created a very interesting system that allows for the would-be day trader to potentially increase their volume and make more informed trades within an ecosystem of like-minded individuals. Previously, this sort of efficiency was only available to those who created their own software or worked within firms specializing in this kind of trading. The of this kind of trading are quite large if played correctly, and anyone interested in quick trading of cryptos should keep their eyes on FTEC.
The begins April 11, 2018, and you can join the whitelist to get a 25 percent discount.
BTCManager does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.
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Thousands of investors were duped by a dodgy initial coin offering (ICO) by Sohrab “Sam” Sharma and Robert Farkas, co-founders of a business called Centra Tech, on April 2, 2018. The ICO was promoted by celebrities such as Floyd Mayweather and DJ Khaled.
Both Sharma and Farkas now face criminal charges in Manhattan federal court on multiple counts including securities fraud, conspiracy to commit securities fraud, wire fraud, and conspiracy to commit wire fraud. Farkas was reportedly arrested on April 1 as he prepared to board a plane to leave the country.
What was Centra Tech up to?
According to the SEC, Centra raised a whopping $32 million in 2017 by way of an , which is basically a method of fundraising wherein companies sell custom digital currencies in exchange for or fiat currencies such as the US dollar.
The company claimed that its digital currency would give investors access to a forthcoming crypto exchange, as well as a digital currency debit card affiliated with the MasterCard and Visa networks. However, the charges brought against the company explicitly states that Centra never had any tie-up with either of these two companies.
The SEC’s read:
“The SEC’s complaint alleges that Sohrab “Sam” Sharma and Robert Farkas, co-founders of Centra Tech. Inc., masterminded a fraudulent ICO in which Centra offered and sold unregistered investments through a “CTR Token.” Sharma and Farkas allegedly claimed that funds raised in the ICO would help build a suite of financial products.”
The complaint further states that Sharma and Farkas “engaged in an illegal unregistered securities offering and, in connection with the offering, engaged in fraudulent conduct and made material misstatements and omissions designed to deceive investors in connection with the offer and sale of securities in the Centra I.C.O.”
Celebrity and Social Media-driven Campaigns
Over the past few months, regulators in the US have made it abundantly clear that ICOs are going to remain on their watchlist hoping that it would serve as a deterrence against otherwise .
Apparently, Centra Tech made a name for itself in the online space by exaggerating their reach in the corporate world. Sharma and Farkas allegedly persuaded investors to purchase their tokens by lying about Centra’s non-existent partnership with MasterCard, Visa, and the Bancorp.
Additionally, the duo carried out an aggressive social media campaign featuring celebrities such as undefeated boxing champion and . Unbeknownst to the scam that was cooking under the disguise of a legit business, Mayweather, who has eight million followers on Twitter, endorsed Centra Tech’s ICO on the microblogging network.
“Centra’s (CTR) ICO starts in a few hours. Get yours before they sell out, I got mine.” Mayweather .
However, it doesn’t look like US agencies are going to charge the celebrity boxer with any wrongdoing.
Binance Reacts
Following the SEC’s crackdown on Centra Tech, leading crypto exchange Binance has a warning asking investors to exercise caution while dealing with the CTR token.
Binance stated that the exchange is monitoring the situation and may take further action “including delisting” as and when more information comes out. It also said that a notice period of 72 hours or more would be served to its customers if CTR is delisted from the exchange.
Even in the face of legal action, Centra’s tokens are still trading with a market capitalization of $6.86 million and 24-hour volume of $42.5 million. The token has decreased almost 70 percent in value over the past 24 hours, priced at $0.10 at the time of writing.
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With many of the token’s supporters seriously, it seems that many of Centra’s investors will have a bitter pill to swallow in the upcoming days.
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Investors should use social volume as a metric to measure a cryptocurrency’s performance since public debate concerning cryptocurrencies tends to occur on social media platforms like Twitter, Reddit, and Facebook.
As an “instrument of the 21st century, [cryptocurrencies]… are publicly debated, discussed, marketed, pumped, and dumped on social media,” said Amir Feder, chief data scientist of Solume, on a .
Social media has always played an integral role in cryptocurrencies. From its inception to global discussions today, these platforms helped developers, innovators, and changemakers build and create a community to support the growing movement.
Investors should, therefore, take note of social volume and mentions, and track these metrics. While this may be tricky, there are online tools available like and which can come in handy when it comes to cryptocurrency investing.
Why Social Volume is an Important Metric to Follow
Social volume is a great metric for cryptocurrency investors because of the impact of social media on the cryptocurrency industry. Cryptocurrencies have always shared a strong relationship with online forums and social media platforms even in its earliest days.
In 2008, when Satoshi introduced the concept of and blockchain technology, he leveraged online websites from the , the , and . The global reach and people on these online communities helped bitcoin gain further awareness which spawned a new community. Online forums and specialized social media groups began to facilitate discussions and foster new ideas, assisting early adopters develop the cryptocurrency ecosystem to what it is today.
Measuring Social Volume
While measuring social volume can be difficult, there are online tools designed to help cryptocurrency investors. Solume is a great tool used to gauge the social volume and popularity of a large number of coins. Their website allows investors to see the relationship between the coin’s number of mentions on social media and its price in USD or BTC. Here is an example of Monero’s social chart over the last seven days.
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Solume also provides other options which include comparing the price of the cryptocurrency about sources that mention it. These sources include , , and bitcointalk.org.
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Investors can also assess the levels of sentiment associated with the cryptocurrency. When there are high levels of negative press as seen here, it often has a direct influence on the price of the coin.
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Aside from these informative graphs, Solume also lists the most recent Reddit and Twitter social posts. Solume is a handy tool for investors who want to gauge the general social buzz and have a clear understanding of the social volume concerning a specific coin.
An alternative website is Cryptometrics. Upon quick inspection, Cryptometrics appears very complicated. However, it’s very simple for investors to use. Unlike Solume, Cryptometrics only focuses on two social media platforms: Reddit and Twitter. Cryptometrics helps investors understand how well their coin has been performing in the last 1,7,30, and 90 days.
To use an example, the chart below demonstrates that in the last seven days, Monero has 1069 Reddit posts with an increase of 0.87 percent in posts during the previous seven days.
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As for Twitter, the chart below demonstrates that in the last seven days Monero had 1820 tweets with an increase of 0.65 percent in posts over the previous seven days.
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Social media platforms will continue to play a significant role in the development of cryptocurrency community. It is therefore wise for investors to leverage existing tools to continuously assess the social volume and buzz when it comes to predicting the future value and cryptocurrency coins.
has reported on a study which explains while social media has some influence to cause large demand shocks, known as the ‘buzz factor,’ however, such social media impact, in essence, is not substantial enough to stimulate price. Instead, the technological innovation factor is more important for explaining price changes.
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