Monat: Januar 2022

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Market highlights January 12: Cryptos in the green, US stocks rise as investors await CPI data

The crypto market was higher over the past 24 hours, as the majority of top 10 cryptos were in the green at time of writing. US stocks marched higher yesterday after Federal Reserve chairman Jerome Powell reiterated his warning that rates will have to rise this year.

The confirmation that the Fed is serious about tackling inflation was well received by investors, with the NASDAQ100 (+1.47%), SPX500 (+0.92%) and DJ30 (+0.51%) all finishing higher yesterday.

Energy stocks dominated the SPX500’s risers table following a sharp increase in the price of oil.

Investors will be closely following the monthly Consumer Price Index (CPI) and Core CPI data, set to be released today at 13:30 GMT.

Top cryptos

Bitcoin climbed around 1%, trading above $42,000 at time of writing. Ethereum was up around 4%, and Cardano and XRP registered gains of around 5% and 2%, respectively. Closing out the top 10 list was Polkadot, which registered gains of around 10%.

Avalanche, the 11th biggest coin in the ranking, has gained 11% today, trading for just over $90. It surpassed both Dogecoin and Shiba Inu by market cap and looks set to pass $100 soon.

NEAR Protocol’s native token NEAR is the biggest winner in the top 20 this week. The 19th ranking coin gained 7% in the last 7 days, more than every other coin in the top 20, and added 10% to its value just today.

Top movers

After correcting the recent pullback, Fantom has embarked on a relentless bullish trend thanks to a list of recent events. First, it was the news of Movr Network integrated Fantom into FundMovr and then the currently ongoing FantomLive IDO on DAOStarter. It has gained 20% in the last 24 h.

Oasis Network (ROSE), a privacy-focused layer 1 blockchain built for open finance and a responsible data economy using the Cosmos SDK, is up 19%.

Secret is the native coin of Secret Network, a blockchain with data privacy for smart contracts by default, allowing you to build and use applications that are both permissionless and privacy-preserving. 

This functionality protects users, secures applications, and unlocks hundreds of never-before-possible use cases for Web3. It has gained 18% in the last 24 h.

The Sandbox, Kadena, and Bora all gained 14% today. Bora is up to 96th. Yesterday, it was barely staying afloat at 100.

Harmony, the 42nd largest coin by market cap, is one of today’s big winners too. It has gained more than 13%. Celo gained just under 13%. OMG Network and Livepeer are also up 13%.

The price of metaverse token GALA gained 700% last November, after which it fell with a series of declining highs. Now, it’s starting to reverse some of its losses. It has gained 12% today. Arweave is also up by 12%.

Other strong performers include Enjin Coin with +11% and Stacks and THORChain, both with +10%. The live Kusama price today is $272 with a 24-hour trading volume of $114.4 million. It is up 9.71% in the last 24 hours.

Trending

Bombcrypto is a classic play-to-earn game where players can buy bomber heroes and participate in exciting game modes. The game has 3 game modes: Treasure Hunt – Autoplay, Story Mode, and PVP. It is trending as Bomber Coin. 

The price of its token, BCOIN, is $3.24 today. Bomber Coin is up 30% in the last 24 hours.  

The post Market highlights January 12: Cryptos in the green, US stocks rise as investors await CPI data appeared first on Coin Journal.

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Bitfarms hat den Dip während des Markteinbruchs Anfang Januar gekauft

Das Mining-Unternehmen hat Ende letzten Jahres ein Darlehen von 100 Millionen USD von Galaxy Digital erhalten.

Der in Kanada ansässige Bitcoin-Miner Bitfarms sagte in einer am Montag veröffentlichten Erklärung, dass er Bitcoins gekauft habe, als die Märkte in der ersten Januarwoche um bis zu 12 % gesunken sind. CEO und Gründer Emiliano Grodzki erläuterte die Strategie des Unternehmens, dass Bitfarms beabsichtige, in kürzester Zeit so viel Bitcoin wie möglich zu stapeln.

„Mit dem Rückgang bei Bitcoin haben wir die Gelegenheit genutzt, Bargeld in BTC zu transferieren“, erklärte der Bitfarm-Geschäftsführer und fügte hinzu: „Unsere Unternehmensstrategie bei Bitfarms besteht darin, die meisten Bitcoins zu den niedrigsten Kosten und in kürzester Zeit zum Nutzen unserer Aktionäre anzuhäufen.“

Das Mining-Unternehmen hatte im letzten Monat 363 BTC und im November 339 geprägt, was die Jahreszahl auf 3.452 Coins brachte. Bitfarms gab 43,2 Millionen USD aus, um 1.000 Bitcoins zu erwerben. Durch die Übernahme stieg die Gesamtzahl der Coins in seinem Bestand auf über 4.400, was ungefähr einer 30-prozentigen Aufstockung der Bitcoin-Kasse entspricht.

Der Bitcoin-Markt brach kurzzeitig ein, erholte sich aber wieder

Gestern führte Bitcoin die Märkte in einem massiven Einbruch an, bei dem der wertvollste digitale Coin der Welt kurzzeitig unter der entscheidenden 40.000-Dollar-Marke gehandelt wurde. Das zweitplatzierte Ethereum blutete ebenfalls und fiel unter den kritischen Unterstützungspunkt von 3.000 USD.

Während Bitcoin auf den Märkten für Händler größtenteils ein schlechtes Jahr hatte, markierte der Rückgang, den es gestern einbrachte, laut CoinDesk ein Dreimonatstief (seit 21. September) von 39.678 USD. Der Markt erholte sich jedoch schnell, als Bitcoin wieder über 40.000 USD handelte.

Die rückläufige Marktstimmung in den ersten Tagen des Jahres ist auf mehrere Faktoren zurückzuführen. Kasachstan, ein wichtiger Knotenpunkt für das Bitcoin-Netzwerk, war kürzlich Zeuge von Bürgerunruhen, die zu einer Abschaltung des Internets führten, die praktisch einen guten Teil der Bitcoin-Miner abschaltete.

Darüber hinaus hat das am 5. Januar veröffentlichte Protokoll der Federal Reserve, das darauf hindeutet, dass die Federal Reserve mit ihrem Ansatz zu einigen Geldpolitiken einen Sinneswandel vollzogen hat, dem bereits rückläufigen Bitcoin nicht gut getan.

The post Bitfarms hat den Dip während des Markteinbruchs Anfang Januar gekauft appeared first on BitcoinMag.de.

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Crypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell

  • Powell says nothing would prevent a well-regulated stablecoin from coexisting with a US CBDC.

  • He also revealed that a much-awaited report on cryptocurrencies was ready for release within weeks.

Cryptocurrencies and a US central bank digital currency can coexist, according to comments made by Federal Reserve Chair Jerome Powell.

The Fed chair said this when answering a direct question on the topic from Sen. Pat Toomey during Powell’s re-nomination hearing on Capitol Hill.   

The lawmaker wanted to know if there was anything that would prevent the coexistence of a Fed digital dollar and stablecoins. 

According to Business Insider, Powell responded with a “no, not at all.”

His response suggests that if Congress okayed a CBDC and Fed were able to launch one, nothing would “preclude a well regulated, privately issued stable coin from co-existing” within the same financial system as the digital dollar.

An example would be USD Coin (USDC), a US dollar-pegged stablecoin launched by Circle and Coinbase. 

Crypto report ready

Powell also said that the long-overdue report on digital currencies should be out soon, putting the timeline towards that within weeks.

He told Sen. Mike Crapo that the report on cryptocurrencies was ready and that the delay in releasing it was largely down to monetary policy adjustments.

He noted that coming up with the report was a tough task and that the agency “didn’t get it quite to where [it] needed to get it.” However, it’s now ready for publication.

“The report really is ready to go and I would expect we will drop it, I hate to say it again, in the coming weeks, but it really is in a situation where it’s ready to go,” the Fed Chair reiterated.

According to Powell, the structure of the engagement with the report will mainly constitute “asking questions and seeking input from the public,” and not merely taking predetermined positions on issues.

But that doesn’t mean that the Fed wouldn’t be taking positions, he added.

Powell said in December that he didn’t think crypto posed any threats to the stability of the US financial system. He also earlier told Congress that the Fed was not looking to take China’s route and ban cryptocurrencies.

The post Crypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell appeared first on Coin Journal.

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What next for Crypto.com (CRO) after a 7-day blood bath? – Price prediction and analysis

Crypto.com (CRO) is simply in shambles. After a massive 7-day rout that saw the token lose nearly 25% in value, CRO is still in the eye of the storm. Any attempts to break the downtrend over the last few days have been met with massive downward pressure. So, what’s next for CRO? Well, here are some highlights.

  • CRO has shown some mild bullish signs in the last week but has largely been on a strong downtrend.

  • At the time of writing, the coin was trading at $0.4459, up about 1% in 24 hours but still down 22% for the week.

  • CRO is facing significant headwinds in the market albeit underlying fundamentals are outstanding.

Data source: Tradingview.com 

Crypto.com (CRO) – price action and prediction

CRO has shown some brief recovery over the last 24 hours, managing to post decent gains after a whole week in the red. But this is very mild and does not suggest anything. In fact, the token is firmly in decline. 

Any breakout can only come once we see a trend reversal around its $0.4224 support. Also, CRO must break past its overhead resistance of $0.4846. At the time of writing, the coin was trading at around $0.4459. 

With increasing bear pressure from the wider market, it is unlikely that CRO will surge past overhead resistance in the near term. In fact, if downside pressure continues, the token could sink to as low as $0.3151.

Should you buy Crypto.com (CRO)

Crypto.com, one of the leading crypto exchanges in the world, has expanded fast in recent years. In fact, the platform is putting more effort to bring institutional traders with deeper pockets into its exchange. 

It is therefore going places and as such, any investor should consider its native CRO token. Crpto.com (CRO) has always been a decent long-term asset to hold. Nothing has changed in underlying fundamentals, so you should definitely buy.

The post What next for Crypto.com (CRO) after a 7-day blood bath? – Price prediction and analysis appeared first on Coin Journal.

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Oasis Network (ROSE) has rebounded sharply – Can this uptrend keep going?

After a sluggish start to 2022, Oasis Network (ROSE) is finally rebounding sharply. The token appears to have weathered the crypto storm seen over the last 7 days and is now firmly on the up. But can this uptrend actually last? Well, here are some highlights first:

  • At the time of writing, ROSE was trading at $0.4203, up nearly 25% in 24-hour intraday trading.

  • Oasis Network has distinguished itself as a fast-growing alternative to Ethereum and has earned its place in the market.

  • The token is now above its 20- and 50-day simple moving average, an indication of a bullish alignment.

Data Source: Tradingview 

Oasis Network (ROSE) – Price prediction and analysis

Oasis Network (ROSE) has seen a massive price recovery in the last few days. Although overall, the crypto market has slumped, ROSE is outpacing every other coin right now. At the time of writing, the token was up 25% in 24-hour intraday trading. 

ROSE has also paired some of the losses we saw the past week. Although it’s still down around 1.26% for the last 7 days, it’s still way better compared to the average in the market. 

We have also seen the price action surge above 20- and 50-day SMAs, suggesting that there is still more bullish momentum to come in the near term. The relative strength index or RSI is also in the neutral zone, another positive sign for bulls. With these indicators, it is likely that ROSE will continue this uptrend in the near term.

Should you buy Oasis Network (ROSE)

The Oasis Network (ROSE) is seen as a serious alternative to Ethereum. The blockchain has in fact put aside $160 million to incentivise developers to create on its chain. 

Although it still has a long way to go to catch up to Ethereum, so far, it has done quite well. For the long-term crypto investor, this is a good token to buy.

The post Oasis Network (ROSE) has rebounded sharply – Can this uptrend keep going? appeared first on Coin Journal.