• Latest
jim cramer is begging his audience to sell cryptos

Jim Cramer is Begging His Audience to Sell Cryptos, So What Next?

September 30, 2021
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Jim Cramer is Begging His Audience to Sell Cryptos, So What Next?

coinnewsdaily by coinnewsdaily
September 30, 2021
in Business, Ethereum, Trading
0
jim cramer is begging his audience to sell cryptos
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
jim cramer is begging his audience to sell cryptos

Jim Cramer is well-known in the trading community for his sharp tongue, lightning ideas, and his trading advice show „Mad Money“ on CNBC. Jim Cramer is no stranger to the markets; he has been working in the stock market since he was in fourth grade and has worked for Goldman Sachs and his own hedge fund. Following that, he worked as a writer for the Smart Money column, where he was accused of unethical behavior for earning $2 million on an elephant deal before recommending it in his column. Whatever you may say about Jim Cramer, you cannot dismiss him or his market understanding.

Cramer and his penchant for cryptos

Cramer has been a notable supporter of cryptocurrencies, having purchased both Bitcoin and Ethereum, and even when he sold them, he made it apparent that he intended to repurchase them later. Cramer is well-known for his strong views on cryptocurrency, and in his CNBC Mad Money column, he is pleading with his viewers to sell their crypto holdings.

Related articles

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022

“I know the crypto-lovers never want to hear me say sell, but if you’ve got a big gain as I did, well, I’m begging you to,” Cramer said. “Don’t let it become a loss. Sell some, stay long the rest, then let’s wait and see if China changes its attitude toward an Evergrande bailout.”

The Evergrande catastrophe has had a significant impact on the global economy, as it involves relationships and investments on a global scale, and there is also a strong link to cryptocurrency. According to some, Evergrande owns a sizable portion of Tether. Yet, according to Cramer, „Tether stated that they have no exposure to Evergrande.“ However, hundreds of Chinese enterprises stand to lose millions as a result of this catastrophe, and many of them have Evergrande exposure, which might indicate serious difficulty if the dominoes fall here.”

“The issue with tether is that it is backed by a variety of assets, roughly half of which are commercial paper — short-term loans — and a significant portion of which is believed to be Chinese commercial paper,” Cramer explained. Tether is the third-largest cryptocurrency by market value. It is a stablecoin linked to the US dollar. Therefore, assuming you followed Jim Cramer’s advice and sold your Tether, what’s next for you?

How about FLURRY, a protocol specifically for stablecoin owners?

The FLURRY protocol issues rhoTokens, which are backed by stablecoins in the same way as Tether is supported by bitcoin. For example, the rhoUSDC is tied 1:1 to the USDC, and the price stability is maintained (derived from the underlying stablecoin USDC). Holders will be able to utilize their rhoTokens immediately, without having to redeem their funds or incur gas expenses, making this the ideal means of trade.

The protocol’s purpose is to find the best passive yields for the stablecoins that its users hold. Users who possess FLURRY’s rhoTokens do not have to look for the finest earning possibilities, nor do they have to move their holdings across platforms or products, because FLURRY takes care of all of that as they sit back and watch their interest increase. With the FLURRY protocol, users can take advantage of high yield possibilities from virtually any chain, without having to install any additional software on their computer.

? #FLURRY Protocol’s #rhoTokens will be officially LIVE on 11 OCT ?

These tokens are pegged 1:1 to a stablecoin allowing users to access the best yields for their stablecoins, adjusted according to respective transaction fees

Get them before they go cold pic.twitter.com/8M1RisGmaR

— Flurry Finance (@FlurryFi) September 27, 2021

rhoTokens are used to pay interest, and a larger supply of these tokens is received in exchange for keeping these tokens pegged directly to the underlying stablecoin. As a result, the tokens can be used as a medium of exchange and spent in the same manner that stable coins would normally be used, with no lockups in place.

While other yield aggregators look for the best yields as well, FLURRY’s ability to work across virtually any network is what distinguishes it.

According to FLURRY the protocol works in 4 steps:

  1. Mint the rhoTokens – users deposit their stablecoins at Flurry to mint rhoTokens.
  2. Yield Generation – Flurry will transfer the deposited stablecoin into multiple DeFi Products in order to produce yield, based on the weighting and risk criteria that have been assigned to each product
  3. Rebasing — On a daily basis, the Flurry protocol will compute and distribute the interest earned by users by minting additional rhoTokens on a 1:1 basis.
    For instance, if user A owns 100 USDC and earns 5% on it, his wallet balance will increase from 100 rhoUSDC to 105 rhoUSDC.
  4. User rhoToken redemption is possible at any time. It is expected that this will not happen frequently in the long term because users will spend and trade the rhoTokens themselves.

Summary

A product like this allows you to invest in any stablecoin of your choice and to move between them as often as you’d like without difficulty. If you are HODling Tether and considering whether or not to follow Cramer’s advise, this is a method to obtain exposure to all stablecoins with a single cryptocurrency account.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Tags: amountBitcoincoinsCrypto BusinessDeFiEthereumfinanceFLURRY protocolgas feesHODLInvestmentJim CramerLongstablecoinstablecoinsTetherTradeTrading
Share76Tweet47
Previous Post

Traders sit idly by as Ripple (XRP) price battles to avert a plunge to $0.70

Next Post

Analyst nails Bitcoin monthly close 2 months running – his October target is $63K

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses
Business

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
Alt Coin

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022
Core Ethereum developer details changes to expect after the Merge
Ethereum

Core Ethereum developer details changes to expect after the Merge

Mai 24, 2022
Monero enters ‘overbought’ danger zone after XMR price gains 75% in two weeks
Alt Coin

Monero enters ‚overbought‘ danger zone after XMR price gains 75% in two weeks

Mai 24, 2022
fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher
Ethereum

fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher

Mai 23, 2022
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Alt Coin

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
Load More
Next Post
analyst nails bitcoin monthly close 2 months running his october target is 63kusd

Analyst nails Bitcoin monthly close 2 months running - his October target is $63K

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev