Monat: April 2022

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Damac properties introduce Bitcoin and Ethereum payment option

Damac Properties, UAE-based real estate developer and Dubai’s largest real estate developer, has announced that it will start accepting two major cryptos, Bitcoin (BTC) and Ethereum (ETH), as an alternative method of payment.

During the occasion, the head of digital transformation and General Manager of Operations at Damac said:

“DAMAC Properties has always been at the forefront of innovations from developing luxury homes to creating unique experiences. This move towards customers holding cryptocurrency is one of our initiatives at DAMAC to accelerate the new economy for newer generations, and the future of our industry.”

Besides, DAMAC will be investing 367 million UAE dirhams equivalent to $100 million into its metaverse that is aimed at developing virtual cities.

Dubai embraces the crypto world

Dubai is on its way to becoming a crypto hub as the majority of the crypto exchanges are establishing their base in the city after the government decided to issue a Virtual asset license under Dubai Virtual Assets Regulatory Authority (VARA).

One of the exchanges to shift its base is Binance, the largest crypto exchange in the world, which recently opened over 100 jobs in UAE after it acquired a virtual currency license. Other exchanges like FTX are also establishing their headquarters in the Gulf state.

The post Damac properties introduce Bitcoin and Ethereum payment option appeared first on Coin Journal.

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Avalanche vs Cardano: Which is a better buy between AVAX and ADA?

Avalanche and Cardano are some of the biggest Ethereum-killers around. Their goal is to create an alternative to Ethereum that is both fast, cost-effective, and highly scalable. As a result, the two have seen their market cap jump to billions of dollars. In this Avalanche vs Cardano comparison, we will explain the better one to invest in.

The case for Avalanche

Avalanche is a leading blockchain that is developed by Ava Labs. The network is known for its blazingly fast speeds that beat Ethereum and other networks. Avalanche can handle as many as 4,500 transactions per second (TPS). 

Avalanche has been used widely by developers to build applications in all industries. For example, its DeFi platform has over 200 applications that have a combined total value locked (TVL) of over $10 billion.

Avalanche has unveiled several projects to grow its ecosystem. For example, it is currently implementing Avalanche Rush, which is a multi-million dollar incentive program. It is also running another fund that aims to provide resources to metaverse creators.

Therefore, Avalanche is a better investment because its network is already stable in terms of the number of apps in the ecosystem. It is also growing rapidly as more developers have embraced the network.

On the daily chart, we see that the AVAX price has been in a strong bearish trend in the past few months. It remains slightly below the 25-day and 50-day moving averages while oscillators have continued dropping. 

Therefore, in the near term, there is a likelihood that the Avalanche price will continue dropping. In the long term, the coin will bounce back.

The case for Cardano

In most cases, Avalanche is better than Cardano. For one, Cardano was started in 2015 while Avalanche’s mainnet went live in 2020. Yet, Cardano has a market cap of $27 billion while Avalanche is valued at $18 billion. 

Another notable factor is that Cardano’ ecosystem is significantly smaller than that of Avalanche because the developers launched their smart contracts in 2021. While Avalanche has a TVL of $10 billion, Cardano has just ten DeFi applications and a TVL of more than $203 million.

Therefore, based on these statistics, it is clear to say that Avalanche is a better investment than Cardano. However, it could also mean that Cardano has a longer runway for growth considering that its network is in a growth phase.

On the daily chart, we see that the ADA price gas formed a descending wedge pattern. Therefore, there is a likelihood that the coin will bounce back. Still, in my view, Avalanche is a better buy than Cardano. Here’s how to buy Cardano.

The post Avalanche vs Cardano: Which is a better buy between AVAX and ADA? appeared first on Coin Journal.

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Highlights April 28: Minor gains for top cryptos, STEPN surges 20%

The crypto market as a whole is bullish with most top 100 coins in the green at the time of writing. 

Top cryptos

Solana and Bitcoin gained around 2.5% over the past 24 hours, while major cryptos Cardano, Avalanche, Ethereum and BNB all registered gains under 2%. At time of writing, Bitcoin was trading above $39,500.

Top movers

Outside the top 20, the tendency was similar, with most coins adding 1-5% to their value. Notable standouts include STEPN’s GMT token, The Graph (+13%), and Secret (+8%). 

GMT is the biggest winner by far. It added more than a fifth to its value today after launching a series of valuable giveaways. It has been on a rally for some time and recently broke the top 50 biggest coins by market cap. 

As for the biggest losers, they are Kyber Network’s KNC coin (-4%) and Oasis and Helium with around -2% each. All three are reversing recent gains.   

Trending

The biggest gainer today is Tom Coin, a project on BSC whose developers aim to launch a play-to-earn game and a metaverse. As the project nears these milestones, the Tom Coin token is surging. It has gained 3,140% in the last 24 hours.

The post Highlights April 28: Minor gains for top cryptos, STEPN surges 20% appeared first on Coin Journal.