Der Kraken-Chef Jesse Powell hat bekanntgegeben, dass Kraken seinen globalen Hauptsitz in San Francisco schließen werde.
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Regulierungsbehörden der ganzen Welt wollen die Kontrolle mit aller Macht behalten.
Kreml-Signal an den Westen: Russen besitzen 130 Mrd. US-Dollar an Kryptowährungen
Russlands Regierung lässt den Westen wissen, dass die heimische Bevölkerung schon beträchtlich in Kryptowährungen investiert.
Near Protocol price surges over 22% today: what is fuelling the uptrend?
Near price has been rising since February 27 and the bullish trend seems to be gaining momentum by the day.
At the time of writing, NEAR is trading at $18.67 up 22.72% in the last 24 hours. It has hit a daily high of $19.64 which is still below the all-time of $20.42 that it set in January this year.
In this article, we will focus on the factors causing the price of NEAR to rally.
What is Near Protocol (NEAR)?
Near Protocol is a community-built blockchain launched in May 2020 with advanced network operability and a faster transaction speed to solve the bottleneck processes experienced in the crypto space. It launched its mainnet on April 22, 2020.
NEAR is the native token of the NEAR protocol.
Near Protocol uses a proof-of-stake (PoS) consensus mechanism that ensures the blockchain offers low transaction fees and high transaction speed.
Why is the Near Protocol price rising?
Several factors have contributed to the current NEAR price hike. Let’s take a look at some of the main factors.
1. More funds to expand the ecosystem
To some extent, the current price hike can be attributed to the new funding round that saw NEAR Protocol net $350 million from Dragon Capital, FXT Ventures, and other organizations to expand its ecosystem.
In January, Near Protocol also managed to raise $150 million for the same course.
2. Barry Silbert announcement
Another reason for the uptrend is the announcement by Barry Silbert, the founder of Digital Coin Group, that NEAR will be the Group’s third-largest crypto holding after Bitcoin and Ethereum.
Time for the big reveal…
DCG’s new third largest crypto holding is… $NEAR
1) $BTC
2) $ETH
3) $NEAR
4) $ZEC
5) $ZEN https://t.co/PbQ5BoEpC3— Barry Silbert (@BarrySilbert) April 7, 2022
3. NEAR’s native stablecoin launch
After a recent newsletter from crypto swing trader, Zoran Cole, there were rumors that NEAR Protocol was planning to launch a native stablecoin, USN, which is another reason for the uptrend.
Speculations are that USN will offer ~20% APR leading to an increased DeFi activity which is beyond Cole’s claims, however, Decrypt is yet to receive a Near protocol response about the accuracy of these rumors. Perhaps, this is another reason for the uptrend.
Rumors currently surrounding the $NEAR Protocol:
• Coinbase listing in the next few months
• $USN launch – algo stablecoin similar to $UST
• 20% APR on $USN / stablecoins
What are your thoughts?
— jacobvan.xyz (@jacobavan_) April 7, 2022
The post Near Protocol price surges over 22% today: what is fuelling the uptrend? appeared first on Coin Journal.
My Top Cryptocurrency to Buy Right Now
Cryptocurrencies have lost the shine they had in 2021. Most of them have dropped by more than 40% from their all-time highs and the volume of coins being traded every day has fallen. Still, amidst the chaos, some cryptocurrencies will continue doing well. In this report, I will explain why Terra is the best cryptocurrency to buy right now.
What is Terra?
Terra is a leading blockchain project that was started by a group of South Korean software developers. Their goal was to use the inspiration of Bitcoin to build a new form of money that is simple to use and safe. Their first product using its network was a platform known as Chai, which has grown to become one of the most popular fintech app in the country.
Today, Terra is known mostly for its algorithmically-adjusted stablecoins. A stablecoin is a cryptocurrency that is backed by another stable asset like the US dollar. Unlike Tether and USD Coin, Terra’s stablecoins are affected by market forces of demand and supply. When demand for Terra is high and supply is low, its prices increase and vice versa.
ITerra USD is the fourth-biggest stablecoin in the world with a market cap of over $16 billion. It also has TerraKRW (KRT) which has a market value of about $30.7 million.
Terra has been growing
Terra’s governance coin is known as LUNA. According to CoinGecko, it has a market cap of over $35 billion, making it the eighth biggest coin in the world.
Terra, like other blockchain projects like Solana and Near, has raised billions of dollars from venture capital firms. In February, the developers raised $1 billion through a token sale. At the time, the developers said that they would use these funds to build a Bitcoin reserve for its stablecoins.
And in March, the developers announced that they would buy Bitcoin worth $10 billion and Avalanche worth $200 million. The goal of these purchases is to let them back their stablecoins, which have become very successful.
Terra ecosystem
In addition to Terra’s ecosystem, another reason why it has become my best cryptocurrency to buy is that its ecosystem has been growing.
While Terra is known for its stablecoins, the reality is that it is widely used in other places as well. The most notable of them is the fact that Terra is used as a platform for building decentralized finance (DeFi) applications.
The success of Terra’s stablecoins and LUNA in the marketplace has attracted more developers to the ecosystem. In fact, according to DeFi Llama, Terra has become the second-biggest platform for DeFi developers after Ethereum. And if the trend continues, there is a likelihood that it will pass Ethereum in the coming years.
Terra has a total value locked (TVL) of $28 billion. Some of the biggest applications in the ecosystem are some of the largest in the industry.
For example, Anchor Protocol is the biggest DeFi platform built using Terra’s technology. It has a TVL of $15 billion and is still in a strong growth path. It is followed by Lido, which has a TVL of $8.22 billion, and Astroport which has $1.6 billion. Other leading DeFi apps built using Terra are Stader, Mirror Protocol, and Prism Protocol among others.
What is notable is that 11 apps in Terra’s ecosystem have a TVL of more than $100 million. This is a substantial number considering that its ecosystem is still small and growing.
Terra price performance
Another reason why Terra is my best cryptocurrency is that its performance tends to be uncorrelated with Bitcoin and other coins. For example, as shown below, LUNA jumped to an all-time high in 2021. At the time, Bitcoin was still substantially below its all-time high. Moreover, it has outperformed Bitcoin and other coins over the years, making it a good coin to buy.
Learn how to buy Terra here, or invest with our preferred trading platform below.
*This is not financial advice.
The post My Top Cryptocurrency to Buy Right Now appeared first on Coin Journal.