Die russische Zentralbank rückt scheinbar von ihrer ablehnenden Haltung gegenüber Krypto ab und goutiert nun deren Nutzung von den internationalen Zahlungsverkehr.
Bitcoin (BTC) rutscht dank Aktienmarkt um 1,5 Prozent ab, Miner machen Hoffnung
Die „smarten“ Miner halten trotz der schwachen Kurse weiter an ihren Bitcoin fest und bauen ihre Reserven sogar noch aus.
CoinShares lost $21M due to Terra LUNA’s implosion, CEO says
DeFi exposure related to Terra’s stablecoin UST saw CoinShares, Europe’s largest digital asset firm with billions of assets under management, lose more than $21 million, the firm’s CEO Jean-Marie Mognetti revealed on Tuesday.
The CoinShares chief’s comment on the loss was part of his investor relations message to the company’s clients published in the 2021 Financial Annual Report.
While the loss will be reflected in the company’s Q2 earnings report, Mognetti said he would wait until then or the earnings call scheduled for August to give an update.
CoinShares had no direct exposure to UST
According to the CoinShares co-founder, although the firm’s trading activities mean it was not directly exposed to LUNA’s price collapse, it is active in the DeFi space. Thus, when the implosion occurred, it had been exposed to UST via a book it was running.
“Following the events of the last few weeks, we have booked an exceptional loss from our DeFi activities of £17m on liquidating our holding in UST,” he explained.
That’s about $21.4 million lost, but the CoinShares CEO is upbeat that it won’t impact its activities going forward.
“While this obviously impacts on the Group’s performance for Q2, this loss has not had any impact on any of our additional Capital Markets activities, nor does it in any way impact upon the hedging and collateralisation of any of the Groups ETPs.”
It’s a ‘battle scar’
Despite the loss, CoinShares looks at it (LUNA’s collapse and the loss) as a humbling experience and “battle scar” that team has learnt from and won’t forget.
The events also gives them the morale focus on providing “the premier investment technology for the digital asset sector.”
Mognetti also says that the company had an “exceptional” 2021, with fiscal year income up more than 500% year-on-year to over £113 million ($142.4 million). However, shareholders might not see the value due to the global macro environment and the company stock’s lack of liquidity.
Terra’s collapse has resulted in the creation of a forked chain LUNA 2.0. The old chain is called Luna Classic (LUNC).
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Cardano v STEPN – Which one is a better buy?
When you factor in the hype, odds favor STEPN winning in short to medium term.
Key Points:
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Cardano has had a lot going on since it launched smart contracts in 2021. It now has a diverse array of projects ranging from a Metaverse project to a stable coin.
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STEPN is revolutionizing the lifestyle space with its cutting-edge Web 3.0 app and rewarding investors handsomely.
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While both are likely to do well long-term, STEPN is likely to benefit from the hype factor. This could see it outperforming ADA in the next bull run.
Cardano (ADA)
Like the rest of the market, Cardano has been underperforming for most of 2022. This is due to the bearish macroeconomic conditions that have hit the entire market. However, like most cryptocurrencies, Cardano’s core metrics are getting better, an indicator that it could bounce bigger than ever once the bear run ends.
For instance, since Cardano introduced smart contracts in October 2021, there has been remarkable progress in Dapp’s activities. The latest project building on Cardano is Djed, a stable coin that is fully backed by reserves. Cardano has also seen a Metaverse project launch on top of it. Since ADA is the utility token of the Cardano network, its value is likely to go as developer activity increases.
STEPN (GMT)
STEPN is one of the few cryptocurrencies that have weathered the 2022 bear run better than most cryptocurrencies. STEPN launched in September 2021, trading at $0.15. By April 2022, when the rest of the market was heavily bearish, STEPN made an all-time high of $4.11. This means it has given investors an ROI of 10,500% in less than a year. However, STEPN has since crashed by 74% from its all-time highs, but considering its core value, the chances of a bounce-back are high.
The future is Web 3.0, and STEPN is one of the Web 3.0 Apps that have gained traction faster than many other players in this fast-growing space. STEPN is designed to be fun while at the same time adding value to the end-user. That’s because it encourages users to adopt healthy lifestyles while getting rewarded. With most of the upcoming milestones set to make the app even better for users, STEPN has pretty strong growth prospects ahead. This makes the STEPN token one of the best cryptocurrencies to watch in 2022 and beyond.
Which one is a better buy?
Both Cardano and STEPN have what it takes to give investors huge returns once the bear market ends. However, in terms of absolute gains, the odds strongly favor STEPN. That’s because it has a lot of hype around it, and if the past is anything to go by, then the hype is a critical factor in a crypto’s price action. STEPN’s chances of growth are also likely to be magnified by being backed by some pretty big names in crypto, key among them being Binance.
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Polygon v Chainlink – Which one is a better buy?
The Ethereum merge gives Polygon an edge in the short term.
Key Points:
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With the Ethereum merge close, MATIC has the potential to grow exponentially once the bull market returns.
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Chainlink’s dominance in the decentralized oracles space gives it strong long-term growth prospects.
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While both LINK and MATIC are likely to do well long term, MATIC is likely to outperform LINK short term.
Polygon (MATIC)
Polygon is an Ethereum scaling solution. It is the most robust of all the other Ethereum scaling solutions in the market today. Like the rest of the market, MATIC has been bearish for most of 2022. However, in terms of fundamentals, MATIC is one of the strongest cryptocurrencies today. This has a lot to do with its connection to Ethereum. Ethereum is in the final stages of a merge that will see it run entirely as a Proof-of-Stake blockchain. The merge will also see Ethereum rely heavily on layer-2 solutions like Polygon for scaling. This means demand for Polygon is set to go up over time. Factor in the fact that MATIC is deflationary, and it’s not hard to see why it’s one of the cryptocurrencies that could do well in the next bull run.
Chainlink (LINK)
Chainlink is a decentralized oracle network. It is the most dominant in the decentralized oracles space and accounts for over 60% of this market. Chainlink, like other cryptocurrencies, has taken a beating in the 2022 bear run. LINK has fallen below $10 for the first time in a long time. However, given how critical decentralized oracles are in the market, the chances are that LINK will bounce back. In fact, when you go by the old investment mantras of sticking to the fundamentals, LINK is easily one of the best cryptocurrencies to buy today and hold for years.
Which one is a better buy?
Both Polygon and Chainlink are top cryptocurrencies to buy and hold long-term. However, in the short to medium term, the odds favor MATIC outperforming LINK. Once the Ethereum merge happens, the polygon network could see a boost in usage. On top of that, MATIC is deflationary, a factor that will become even more important as network adoption grows.
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