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Why is Elrond up by more than 18% today?

The cryptocurrency market is having a positive start to the new week, with most of the cryptocurrencies trading in the green zone.

The crypto market is in the green zone today after adding more than 5% to its total value over the last 24 hours. At press time, the total cryptocurrency market cap stands above $1.270 trillion.

Bitcoin is trading at $30k once again after rallying by nearly 6% over the last 24 hours. Ether is targeting the $2k resistance level after adding more than 7% to its value so far today.

However, EGLD, the native token of the Elrond ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap. EGLD has added more than 18% to its value in the last 24 hours.

At press time, EGLD is trading at $83.78 per coin. The rally comes after the Elrond team announced that it had made a strategic investment in Cantina Royale.

Cantina Royale is set to build Web3 entertainment for the next billion gamers, powered by the Elrond blockchain. 

Elrond said thanks to this investment, the next billion gamers can tap into exciting entertainment with zero added friction from the crypto side of things.

Key levels to watch

The EGLD/USD 4-hour chart is bullish as the cryptocurrency has performed well over the last 24 hours. 

The MACD line crossed into the positive territory a few hours ago, indicating that the bullish sentiment is strong. The 14-day RSI of 68 shows that EGLD could soon enter the overbought region if the rally continues.

If the bulls remain in charge, EGLD could cross the first major resistance level at $92 before the end of the day. Unless there is an extended bullish performance, the second major resistance level at $114 should cap further upward movement.

However, if the bears regain control of the market, EGLD could drop below the $80 mark over the coming hours. EGLD should comfortably defend its position above the $69 resistance level.

The post Why is Elrond up by more than 18% today? appeared first on CoinJournal.

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Dogecoin up 5%: it’s trending on news of soon being accepted for SpaceX merchandise

SpaceX CEO, Elon Musk, has noted that the company will start accepting Dogecoin (DOGE) payments for its merchandise. The news comes after Tesla, another Musk’s company, started accepting Dogecoin payments for its merchandise sometimes back. 

Musk tweeted:

“Tesla merch can be bought with Doge, soon SpaceX merch too.”

On both occasions, Musk’s comment has caused the famous and largest meme coin by market cap to rally.

At the time of writing, Dogecoin (DOGE) was trading at $0.08549 up from a low of $0.07936 on Friday, May 27.

When will SpaceX’s DOGE payments start?

Musk said that the payment option to purchase SpaceX merchandise will be available soon but he did not state specifically when it will be made available to the general public.

When he was asked if SpaceX will enable their customers to pay for Starlink internet connection with DOGE he said:

’’Maybe one day’’

Besides, last year May 10, SpaceX started accepting full payment for a lunar mission, “DOGE-1 Mission to the Moon,” using Dogecoin.

Musk stated:

“Dogecoin would become the first cryptocurrency in space.”

The post Dogecoin up 5%: it’s trending on news of soon being accepted for SpaceX merchandise appeared first on CoinJournal.

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Highlights May 30: Week opens with impressive bull run of the crypto market

The crypto market is booming with all top 100 coins in the green at the time of writing. 

Top cryptos

Bitcoin gained almost 6% in the last 24 hours, trading above $30,000. The second-biggest crypto, Ethereum, added 8% to its value in that time and has almost reached $2,000 per one ether. The biggest top 10 gainer is Cardano, up 12%.   

Cryptos outside the top 10 also fared very well. Avalanche, Polkadot, and Shiba Inu have all gained more than 10% today. 

Top movers

Outside the top 20, the tendency was similar, with many coins adding as much as 15% to their value. Notable standouts include Helium with 20%, STEPN with 28%, Waves with 37%, and Arweave with gains of 18%.  

On May 28, the Helium community launched a HIP 51 vote, which introduces a framework to unlock massive utility on the blockchain by enabling any network to join the ecosystem alongside IoT, such as 5G, Wi-Fi, and VPN.

STEPN drew the ire of Chinese regulators over data privacy issues, but the associated losses were short-lived. 

According to Business Insider, fitness tracking apps are known to be problematic from a privacy perspective, and for China, the crypto angle just makes it worse.  

Waves is the biggest winner of the day without a doubt. Its founder Sasha Ivanov tweeted about a liquidity crunch on Vires Finance, where several accounts were close to defaulting. This sent Waves’ token’s price down a few days ago. 

Ivanov then tweeted he planned to create a proposal on Vires that would move the debt and remaining collateral of these accounts to his own account, reversing the coin’s price trend.  

At the time of writing, no cryptos had lost value, except a few stablecoins losing up to a few hundredths. Efforts to save TerraUSD have failed and this stablecoin’s market cap no longer ranks it in the top 100. 

The LUNA token of the new Terra 2.0 blockchain seemed promising when it launched on Saturday, but it lost over 70% within a day. It has been flat in the last 24 h, changing hands for around $6. The old LUNA, now LUNC, continues to decline.  

Trending

The biggest winner today is Mercor Finance, trading for $0.0199, up 473% in the last 24 hours. This platform enables developers to create a trading algorithm coded in Python. 

If they are happy with their creation, they can deploy the algorithm onto the platform.

The post Highlights May 30: Week opens with impressive bull run of the crypto market appeared first on CoinJournal.

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Top places to buy LUNA, the token of the new Terra 2.0 blockchain

After the Terra 2.0 blockchain was launched by Terraform Labs, it peaked at almost $20, only to shed 73% of its value the next day. It’s currently trading at around $6 and has been relatively flat over the past 24 hours. 

This brief guide has everything you need to know about the LUNA network and coin, including whether and where to buy LUNA if you choose.

Top places to buy LUNA now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy LUNA with eToro today

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy LUNA with Binance today

What is LUNA?

Terra (LUNA) is a public blockchain protocol derived from what’s now known as Terra Classic, the cryptocurrency associated with the algorithmic stablecoin TerraUSD (UST). 

Renamed to LUNC, the original LUNA crashed in May 2022. It is now virtually worthless. The creators of Terra, Terraform Labs, created a new blockchain, and hence the new LUNA. The new Terra blockchain is not linked to the UST stablecoin. 

It hopes to keep growing with the help of supports from the LUNA community and build on the world-class user interface and experience that propelled Terra Classic to the top 10 biggest coins by market cap and to second place in TVL at its peak. 

Should I buy LUNA today?

LUNA can definitely be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.

LUNA price prediction

Practically no price predictions are available considering how recently this token was launched. 

Crowd Wisdom quotes one Peter Loter as tweeting that LUNA is in a triangular formation, which is a neutral indicator. In the event of a bull run, this tendency is likely to continue.

LUNA on social media

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AKRO is rallying, up 13% today: here’s where to buy AKRO

The live Akropolis (AKRO) price today is $0.0056 with a 24-hour trading volume of $176.6 million. At the time of writing, Akropolis was up 13%.  

This brief guide has everything you need to know about the AKRO network and coin, including whether and where to buy AKRO if you choose.

Top places to buy AKRO now

Capital.com

Capital.com offers investors an award winning trading platform that can access multiple financial markets including the new and exciting cryptocurrency market.

Buy AKRO with Capital.com today

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy AKRO with Binance today

What is AKRO?

Akropolis is a company that runs an Ethereum-based DeFi protocol that seeks to make an autonomous financial ecosystem available for saving and accumulating wealth, including through lending and borrowing. 

To do so, it offers a set of cutting-edge products including Sparta, a platform for uncollateralized lending and AkropolisOS, a framework for developing for-profit decentralized autonomous organizations.

Another important product is Delphi, a yield farming aggregator and tool for dollar-cost averaging.

Should I buy AKRO today?

AKRO can definitely be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.

AKRO price prediction

According to Tech News Leader, the price of Akropolis’ token can go up to $0.007 in a year. It will be worth $0.021 in five years and $0.12 in a decade.

AKRO on social media

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