Monat: Mai 2022

Veröffentlicht am

Lido DAO (LDO) token is soaring on the Binance listing

Lido DAO (LDO) token, Ethereum-based decentralized finance (DeFi) platform, has rallied over 25% after Binance announced that it will be listing the token today.

The token will be available for trade-in LDO/USDT, LDO/BUSD, and LDO/BTC pairs and will be live at 11:00 UTC, this will be the first listing of the token by a centralized crypto exchange.

According to DeFi Llama, Lido is among the platform that holds the largest market share in ETH staking (Ethereum staked on Lido is $10.15 billion) and also the second-largest DeFi protocol by total value locked (TVL) which jumped over $20 billion

Lido continues to gain traction

Lido offers staking across Ethereum, Solana, Polygon, Terra, and Kusama, besides, the LDO deposit channel is now open but according to the exchange policy, the traders will have to wait for 24 hours to carry out any transaction. The token listing fee will be 0 BNB.

In addition, the platform (Lido) has been one of the best favored liquid staking platforms lately for Ethereum at a time when there is a growing interest for Ethereum 2.0. However, the token price had experienced a significant drop after the developer delayed the Ethereum merge to the third quarter (Q3).

Although ETH rewards on Lido have been decreasing over time despite its effort to add other assets, this new move for decentralization and Binance listing will be beneficial for Lido users who have been worried about its trend over time.

At the time of writing, LDO was trading at $3.31, up 26.73% in the last 24 hours after retracing from a high of $3.51.

The post Lido DAO (LDO) token is soaring on the Binance listing appeared first on Coin Journal.

Veröffentlicht am

Here is why TRX is up by more than 3% today

The crypto market is heavily bearish at the moment and has lost more than $200 billion over the past few days.

The cryptocurrency market has been in a bearish trend over the past few days. The market has shed over $200 billion in the last few days, with the total market cap now above $1.52 trillion. 

In the last 24 hours, the market has lost nearly 4% of its value. Bitcoin remains the market leader but has lost its $35k support level and is now trading around $33k per coin. 

Ether, the second-largest cryptocurrency by market cap, has also dropped below the $2,500 psychological level and further losses could see the ETH bulls forced to defend their position above $2,000.

TRX, the native token of the TronDAO ecosystem, is one of the best performers amongst the top 20 cryptocurrencies by market cap in the last 24 hours. TRX has added more than 3% to its value and now trades at $0.08404 per coin.

The coin is performing well as TronDAO’s USDD stablecoin continues to gain traction. TRONDAO recently revealed that the total supply of the stablecoin has now surpassed $240 million.

Key levels to watch 

The TRX/USDT 4-hour chart is currently bullish as Tron has been performing well in recent days. The MACD line is above the neutral zone, indicating bullish momentum for TRX.

The 14-day relative strength index of 52 shows that TRX is no longer in the oversold region. 

If the bullish momentum continues, TRX could rally past the $0.0910 resistance level over the next few hours. In the event of an extended bullish run, TRX could trade above the $0.10 level for the first time this year. 

The post Here is why TRX is up by more than 3% today appeared first on Coin Journal.

Veröffentlicht am

Why is NEAR up by more than 7% in the last 24 hours?

The cryptocurrency market has lost more than $200 billion over the past few days.

The cryptocurrency market has been in a bearish trend over the past few days. Over the weekend, the market shed more than $200 billion as the total crypto market cap dropped from $1.7 trillion to $1.5 trillion.

In the last 24 hours, the market has lost nearly 4% of its value. Bitcoin has lost its major support level above $35k and is now struggling around the $33k point. It could be in line for further losses over the coming days.

Ether has also dropped below the $2,500 psychological level and further losses could see the ETH bulls forced to defend their position above $2,000. 

NEAR, the native token of the Near ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap in the last 24 hours. The coin has added more than 7% to its value during that period. 

However, there is no major catalyst behind NEAR’s ongoing positive performance. NEAR could find it hard to maintain this bullish run as the broader market is currently bearish.

Key levels to watch 

The NEAR/USDT 4-hour chart is still bearish despite the ongoing positive performance. However, the technical indicators show that NEAR’s value is slowly recovering.

The MACD line is below the neutral zone as NEAR has been in a bearish trend in recent weeks. The 14-day RSI of 50 shows that NEAR is no longer in an oversold region.

At press time, NEAR is trading at $11.07 per coin. If the rally continues, it could surge past the first resistance point at $12.40. However, the second resistance level at $13.285 should cap further upward movement.

With the broader market still bearish, NEAR could see its gains reversed. NEAR could be forced to defend its first major support level at $9.046 before the end of the day.

The post Why is NEAR up by more than 7% in the last 24 hours? appeared first on Coin Journal.

Veröffentlicht am

Highlights May 9: NEAR surges on user growth, LUNA loses 10% after UST peg drop

The crypto market is mostly bearish with the majority of top 100 coins in the red at the time of writing. The new reality of heightened recessionary fears and higher interest rates shook crypto markets over the weekend.

Top cryptos

Bitcoin and Ethereum plummeted over the weekend as concerns over rising interest rates and the possibility of a recession escalated. At the time of publication, Bitcoin had lost around 3%, trading just above $33,500. 

Ethereum, the second biggest crypto by market cap, was down 4%, bringing its losses over the past 7 days to 14%.

The rest of the top ten cryptocurrencies were also in the red. Terra’s LUNA dropped by 10% yesterday evening after its stablecoin UST briefly lost its peg to the USD. Its losses for the past 7 days now total 26%.   

Cryptos outside the top 10 did not fare any better, with most down 3-7%. Notable exceptions are Tron and NEAR Protocol, up 3% and 10% resp. 

TRON has been in the spotlight over the past few weeks because of its much anticipated USDD stablecoin.

Its bull run started at the end of April, when the ecosystem announced investment initiatives in Suriname among other exciting developments.

NEAR Protocol reported that 500,000 new accounts had been created on its platform in a single day. NEAR has continued to rally since and was up around 10% at the time of writing. 

Top movers

Outside the top 20, most coins were lower. The biggest losers are Kava (-9%) and Maker, AAVE, and ApeCoin, down around 8% each. 

ApeCoin, which showed great promise, is also one of the week’s biggest losers. It has shed 31% of its value in the last 7 days.  

The top 100 is not without gainers: Monero (+5%), Waves (+4%), XDC Network and ICON (+3% each), and Celo with modest gains of 2%. Monero’s hash rate is over 40% and rising. 

Trending

The biggest winner today is MetaPay, which is trading for $0.000034 and has gained 547% in the last 24 hours. MetaPay is a token that can be used to shop in the Metaxion metaverse. 

The post Highlights May 9: NEAR surges on user growth, LUNA loses 10% after UST peg drop appeared first on Coin Journal.