Monat: September 2022

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3 Ethereum competitors to watch even after the merge

The Ethereum merge is likely to entrench Ethereum’s position as a top layer-1 chain. That’s because, with better scaling and lower fees, more developers are likely to find Ethereum even more attractive. 

So, does this mean the platform blockchain market is cornered, and there is no space for other players? Far from it! While Ethereum is likely to entrench its position as the number one platform blockchain, others will still thrive. That’s because Ethereum fees will, on average, still be higher than other players in the industry. 

In fact, at current depressed prices, now could be a good time to invest in layer-1s that have the potential to do well if Ethereum triggers a broader market rally in the short term.

Solana (SOL)

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Solana (SOL) takes pride in being one of the fastest platform blockchains and is unmatched regarding transaction costs. Solana can handle up to 50k transactions per second at fees in the pennies. 

While Solana has had security scares recently, developers seem to have confidence in it, as its adoption is growing fast. For instance, Solana NFTs are growing exponentially, and the number of DeFi projects launching on Solana is also on the rise.

One of the big projects moving to Solana and could change its fortunes in short to medium term is Helium. Helium is considering a shift to Solana, and once it happens, it will be a huge credibility boost for Solana.

It will be a good indicator that Solana still has room to grow despite the increasing pressure that Ethereum will put on Layer-1 blockchains going into the future. When you factor in that Solana is way off its most recent highs, it’s clear why it is one of the top cryptocurrencies to watch even after the Ethereum merge.

Terra Classic (LUNC)

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LUNC

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.

Terra Classic (LUNC) has been in the news recently, primarily due to the token burn that was implemented as an on-chain tax. While this is the reason for the massive pump witnessed last week, Terra Classic remains one of the most capable Layer-1s in the market. It still has the technical capabilities and lots of projects building on top of it. That’s despite the UST collapse that almost ruined the network. Terra Classic’s scalability, low fees, and now the token burn put it in a unique position to compete with Ethereum even after the Ethereum merge.

Avalanche (AVAX)

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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Avalanche (AVAX) is another top layer-1 cryptocurrency gaining traction quite fast in adoption. The most recent pointers to Avalanche’s growing adoption include GMX, a decentralized spot trading exchange, and DeFi aggregator 1Inch. Being one of the more stable L-1 chains, Avalanche is likely to record growing adoption even after the Ethereum merge. 

Since Avalanche is trading at record lows compared to its most recent all-time highs, it stands out as one of the top cryptocurrencies to keep an eye on not just in September but for days to come.

The post 3 Ethereum competitors to watch even after the merge appeared first on CoinJournal.

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Web3 platform MYTH becomes the latest project to be adopted by TDeFi

TDeFi, a startup incubator for DeFi assets projects, has announced that it will add MYTH, a Web3 platform built for fantasy, sci-fi, and horror fans. TDeFi works closely with companies and projects as a startup incubator and advisor while MYTH allows the fans to connect with each other through Web3 technology.

MYTH will join more than 45 other projects that are currently using TDeFi’s incubation program. Examples of projects that are in the TDeFi incubation program include Vulcan Forged, Gari, Biconomy, MetAmazonia, Bridge, and Sinverse among others.

MYTH joining TDeFi ecosystem

By joining TDeFi’s ever-growing ecosystem, MYTH will achieve its goal of becoming the go-to ecosystem for sci-fi, fantasy, and horror in the Web3 space.

Besides being adopted by TDeFi, MYTH has been on an upward trajectory with 14 partnerships featuring top names in Web3 gaming, NFT comics, gamified collectibles, and the metaverse. Through this diversification, MYTH is able to deliver original comprehensive fantasy-based content to its community members.

MYTH also has a native token called MYTH token, which is used as a governance token, for incentives and for empowering users to build their creations.

MYTH’s ecosystem is built around community-directed projects, play-to-earn (P2E) fantasy games, digital publishing, and fantasy art collectibles. All these facets support the creation of a unified pop-culture metaverse.

TDeFi’s incubator

TDeFi’s incubator helps projects from the launch phase and through every other phase of a project’s lifecycle until the project becomes a success. It provides startups with access to world-class mentors, necessary tech and tools, marketing, community-building techniques, exchanges, liquidity, partnerships, and industry connections.

One of the main advantages of TDeFi’s incubator program is that it does not require projects to make any upfront payments to join. TDeFi acquires a fixed percentage of a project’s token supply rather than charging a fee.

In addition, every project that qualifies for the TDeFi incubator program automatically becomes a partner to all the events that are hosted by TDeFi like the global hackathon BizThon that is scheduled for October.

The post Web3 platform MYTH becomes the latest project to be adopted by TDeFi appeared first on CoinJournal.

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Eastern Europe crypto exchange giant Zonda expands to Denmark

Zonda recently expanded into Italy and secured a regulatory nod to operate in Canada.

Zonda, a regulated cryptocurrency exchange registered in Estonia, has expanded its services to Denmark, according to a news release.

According to the company, its Danish office will be in Copenhagen, with a team of developers at the location working under Zonda CTO Jakob Lundqvist. 

The team will use the new location to advance Zonda’s technological ambitions and market tools as it caters to both retail and corporate clients.

Zonda eyes European expansion

Founded in 2014, the exchange is one of the largest in Eastern and Central Europe, currently serving over 1 million users and offering more than 60 cryptocurrencies.

Customers can buy or swap any of the supported coins and tokens with crypto (Bitcoin (BTC) and Ethereum (ETH)) and major fiat currencies Euro, the British Pound, the US dollar and the Polish Zloty (PLN). The exchange also supports stablecoins Tether (USDT) and USD Coin (USDC).

The exchange also offers a retail-focused service via ZondaPay app and provides training and other educational services on crypto via its Zonda Academy.

The expansion into Denmark therefore opens the platform to further growth across the continent. Recently, the exchange expanded into the Italian market and is eyeing registration and licenses for the United Kingdom and Switzerland.

Beyond the continent, the company has regulatory approval to offer its services and products in Canada.

The post Eastern Europe crypto exchange giant Zonda expands to Denmark appeared first on CoinJournal.

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ETH Merge: Ethereum co-founder Lubin expects no disruption for end users

  • Ethereum will transition from a proof-of-work (PoW) network mechanism to proof-of-stake (PoS) consensus at the merge.
  • Joseph Lubin, ETH co-founder and founder of ConsenSys, says the upgrade will be seamless.
  • The Merge is expected on 15 September 2022.

Ethereum (ETH) co-founder Joseph Lubin says he does not expect the highly anticipated Merge, which is less than 24 hours, to come with post-event disruptions for users.

Lubin, who also founded Ethereum software company ConsenSys, was speaking in an interview with Bloomberg Crypto on Wednesday.

According to the industry expert, his outlook for the Merge is “a 10” on a scale of 1 to 10 in terms of his confidence about Ethereum’s switch from proof-of-work to proof-of-stake consensus mechanism.

“Probably nothing”

The Merge has attracted a lot of attention as it stands as one of the most profound game-changing upgrades in the history of cryptocurrency. And while its success can only be gauged post-merge, Lubin says nothing suggests end users will be disrupted.

“We think it’s gonna be probably nothing and ‘probably nothing’’ is a playful phrase in our ecosystem that indicates that sarcastically, we think it will be enormously impactful. But it’ll also be very likely nothing in the sense that there’s no disruption that’s going to be experienced by end users,” he told Bloomberg.

In terms of how smooth the whole upgrade is likely to be, he notes no disruption so far to software developers. For users, the merge will be “as smooth as if your iPhone or your laptop has upgraded its operating system automatically overnight,” he added.

Lubin agrees that the real proof of how smooth the merge will be can only be gauged once the Beacon Chain and the Ethereum mainnet converge into one chain. 

However, as happened so far, all the testing suggests an “overwhelmingly” seamless transition – even if the testing hasn’t been “it in the context of the whole big ecosystem becoming an economy in its own right.”

So what could go wrong? He points to a potential impact to “small projects.”

“There are lots of little projects that, maybe, read from the blockchain or depend on it,” he opined, that in some ways may not have “upgraded what they need to upgrade to in order for their own smooth transition.” He believes such projects could face some hiccups. 

“But all the major services that depend on the blockchain have already done the work.”

As previously highlighted by CoinJournal, the merge is expected on 15 September 2022 and will see Ethereum’s energy consumption cut by 99.95%. The change is also expected to lead to greater scalability and network performance.

The post ETH Merge: Ethereum co-founder Lubin expects no disruption for end users appeared first on CoinJournal.

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Is Solana a good investment?

Solana price has not been left behind in the ongoing cryptocurrency sell-off. SOL dropped by over 78% between January and September 2022, bringing its market cap to about $11.6 billion. It is also one of the worst-performing large-cap cryptocurrencies during the year.

Solana faces an uphill task

Solana is one of the top Ethereum-killers in the blockchain industry. It is a smart contract platform that is known for its use of the proof of history (PoH) consensus framework. According to its developers, Solana has better features than Ethereum. For example, it has super-fast speeds and extremely low gas fees.

As a result, Solana is a leading player in some of the biggest industries in the blockchain industry like Decentralized Finance (DeFi) and non-fungible tokens (NFT). Some of the top applications that have been created in Solana are StepN, Solend, Audius, and Marinade Finance. 

Solana has also been used widely in the NFT industry. For example, it was used to build Magic Eden, one of the biggest NFT marketplaces in the world.

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Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Solana, like other blockchain networks has faced numerous challenges in the past few months. For one, activity in its key platforms has dwindled. Its total value locked in DeFi has crashed from over $10 billion to slightly above $1.3 billion. Similarly, its NFT activity has also dropped.

Another key challenge is that Solana is widely known for its outages. In 2022 alone, the network has had several severe outages that impacted its entire ecosystem. 

Still, there are several catalysts for Solana price. First, its network has been used to build some of the most popular web3 networks around like Audius, StepN, and Brave Browser. Second, the developers have made progress on fixing the regular outages. Further, it has a strong market share in key industries, meaning that its price will likely rebound in the future.

Solana price prediction

The daily chart shows that SOL price has been in a strong downward trend in the past few months. As a result, the coin has moved below all moving averages. A closer look shows that it has found a strong support at around $30. This support seems like a form of a double-bottom pattern whose neckline is at $48.46.

Therefore, at this stage, the outlook oF Solana is neutral. A drop below the support at $30.42 will signal that bears have prevailed. As a result, the coin will drop to the next key support at $25. On the other hand, because of the double-bottom pattern, a rebound to $50 cannot be ruled out.

The post Is Solana a good investment? appeared first on CoinJournal.