Die einbrechenden Tech-Aktienkurse, die sinkende DApp-Nutzung und bärische Derivatedaten halten den ETH-Kurs weiter unter 2.000 US-Dollar.
Binance Loans starts accepting AVAX and ADA as collateral assets
Binance has announced that Binance Loans has started accepting AVAX and ADA tokens as collateral assets.
Binance Loans’ new Collateral assets (AVAX and ADA)
Binance Loans will now be accepting AVAX and ADA as collateral where they will provide loan orders that are backed by the two tokens so as to lower the borrowing cost.
However, Binance Loans also offers a number of cryptos as collateral assets, loanable limitations, and interest rates which depends on the internal risk mitigation and market situations.
Difference between Crypto Loans and traditional loans
Basically, Crypto loans and traditional loans depend on the same principle but the main difference between the two is how people account for their money. In traditional loans, credit ratings are used to determine the risks, but in crypto loans credit rates are irrelevant. Institutions can use traders’ crypto as collateral until the borrower repays the loan.
In Crypto Loans the period of repayment can be shorter than that of regular loans, for example, Binance Loans offers a loan term of about 7 to 180 days.
The risks involved in Crypto Loans
One of the risks involved in Crypto loans is the volatility of cryptos which makes them unstable as compared to normal currencies. For example, the value of crypto can drop making the collateral value of the lender less than that of the loan.
However, crypto loans may appeal to investors for a number of reasons as a number of traders might not consider liquidating their assets. Crypto loans can help traders to receive interest on their assets.
Besides, traders can use Bitcoin (BTC) to borrow USDT or BUSD as there is a high probability for the collateral value to increase and worth more than the loan. BTC value might rise to make some profits for the loan borrower.
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WEF 2022: Bitcoin (BTC) „ist eine Innovation, und nicht nur eine Anlageklasse“
Miami-Bürgermeister Francis Suarez erinnert daran, dass Bitcoin viel mehr ist, als eine bloße Anlageklasse.
Why is Loopring up by more than 6% today?
The cryptocurrency market has experienced a mixed performance over the past 24 hours.
The crypto market has experienced a mixed performance since the start of the week. The market is up by less than 1% in the last 24 hours, with the total market cap currently below the $1.3 trillion threshold.
Bitcoin is trading in the green zone but continues to struggle to surpass the $30k resistance level. Ether is also trading around the $2k level after adding less than 1% to its value so far today.
However, LRC, the native token of the Loopring ecosystem, is one of the best performers amongst the top 100 cryptocurrencies by market cap today.
LRC has added more than 6% to its value in the last 24 hours and is up by 20% over the past seven days.
At press time, LRC is trading at $0.5734 per coin. The major catalyst behind LRC’s ongoing rally is the news that Loopring has processed more than $5 billion in cumulative trading volume.
As a layer-2 protocol, this latest development is an important milestone for the Loopring ecosystem.
Key levels to watch
The LRC/USD 4-hour chart is currently bullish as Loopring has been performing well so far this week. The technical indicators show that it is one of the best performers amongst the top 100 cryptocurrencies by market cap.
The MACD line has been above the neutral zone for the past few days, indicating bullish momentum. The 14-day relative strength index of 59 shows that LRC could enter the overbought region if the current market momentum is maintained.
If the rally continues, LRC could break past the first major resistance level at $0.6137 before the end of the day. The second resistance level currently stands at $0.7564 and LRC could surge past it with the help of the broader cryptocurrency market.
The post Why is Loopring up by more than 6% today? appeared first on CoinJournal.
EZB: Jeder zehnte Haushalt in wirtschaftlich starken EU-Ländern besitzt Kryptowährung
Die Umfrage wurde in wirtschaftlich stärksten EU-Ländern, wie etwa Frankreich, Deutschland, Italien, Spanien, Belgien und den Niederlanden, durchgeführt.