Monat: Oktober 2022

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Uniswap bullish pressure remains. Here is the key target for buyers

Uniswap (UNI/USD) forays into Web3 seem to be hitting the right buttons. A week since CoinJournal reported a $165 million funding for DeFi, the native token has been bullish.

CoinMarketCap shows that the Uniswap token has gained more than 11% in the past week. It is down by an intraday of 2% after a slight market correction. The gains are the second highest among cryptocurrencies in the top twenty. UNI could remain in a bullish market amid building momentum and reawakened interest.

Uniswap is not the only blockchain to make inroads into the nascent DeFi sector. However, the latest funding, led by Polychain Capital, shed a message that it wasn’t messing around. The $165 million deal is one of the largest in the DeFi Space. It also occurs when cryptocurrencies are under intense pressure. Crypto analysts have lauded the move saying it is proof of the growing interest in the DeFi domain by investors. 

Uniswaps Labs’ founder has described the funding as a validation for DeFi projects. He says he sees immense value in the sector amid the bear market. The investment raises optimism about crypto infrastructure amid the collapse of firms like Voyager.

Binance’s latest move has also given validation for Uniswap. On October 18, the crypto exchange delegated 13.2 million tokens of Uniswap. That allows Binance to become the second-largest on Uniswap DAO by voting power. Binance’s move adds trust in Uniswap as a protocol expected to grow and return massively to investors.

UNI initiates a bullish MACD crossover as price surges

Source – TradingView

A bullish MACD crossover on the daily chart is validation for bulls on Uniswap. The technical outlook is convincing, considering that the cryptocurrency has overcome a drop below $5.6. The MACD indicator also shows that momentum is starting to build for UNI.

What next for the Uniswap token?

Although UNI faces some resistance at $6.8, we remain optimistic that the cryptocurrency could go higher. Our area of interest lies at $8.38 and potentially higher at $9.2. Beyond the target price will depend on the prevailing crypto sentiment.

Where to buy UNI

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Capital.com

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.

Buy UNI with Capital.com today

The post Uniswap bullish pressure remains. Here is the key target for buyers appeared first on CoinJournal.

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Ankr launches Chainscanner block explorer for app-specific blockchains

Ankr, a Web3 infrastructure provider revolutionising the blockchain space, has launched an all-in-one block explorer and analytics tool for AppChains.

The new platform is dubbed Chainscanner and is designed to offer developers and users on app-specific blockchains instant access to data and analytics reports as they interact across the ecosystem.

Chainscanner for AppChains developers

The Ankr team said in a press release on Thursday that Chainscanner will offer an easy-to-use interface that any developer or user can navigate. The feature, according to the team, will make it easy for anyone looking to interact with AppChains within sidechain ecosystems like Polygon, BNB, and Avalanche.

With Chainscanner, a user can easily search and access data, as well as undertake multiple other activitites, including staking tokens, voting on governance proposals and applying to become a validator.

As Ankr also notes in its announcement shared with CoinJournal on Thursday, Chainscanner’s release means developers don’t have to build block explorers from scratch.

The newly-launched platform is also a game-changer when it comes to viewing on-chain data and transactions, with further benefits to Web3 developers who can tap into the Chains-as-a-Service solution for an end-to-end engineering solution.

The platform will also help solve the problems of slow transaction speeds and high gas fees for developers, allowing them to build custom blockchains on leading sidechain frameworks such as Avalanche Subnets, Polygon Edge and BNB Chain’s BAS. These features will help bring Web3 to more people, with complexities of building and deploying blockchains removed.

Ankr launched in 2017 as a decentralised Web3 infrastructure provider and has served more than 50 proof-of-stake chains.

The leading Remote Procedure Call (RPC) aggregator recently partnered with Aptos to boost dApps development on the Layer-1 blockchain. 

As CoinJournal reported in September, Ankr and Polygon have partnered to advance the Web3 experience of supernet developers.

The post Ankr launches Chainscanner block explorer for app-specific blockchains appeared first on CoinJournal.

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European digital bank N26 launches crypto trading service

EU-licensed N26 will launch its N26 Crypto in the next few weeks, with the service first available to customers in Austria. 

N26, Europe’s first regulated mobile bank, is looking to curve off a chunk of the crypto trading market by launching its own service, amid growing demand from clients. 

According to a CNBC report on Thursday, the German-based digital bank will debut its cryptocurrency trading service N26 Crypto in Austria, before expanding the service to customers across the continent and other regions.

N26 Crypto to offer up to 194 tokens

As reported, N26 Crypto will go live over the next few weeks, offering access to 100 tokens. Customer will be able to buy Bitcoin and Ethereum among other top cryptocurrencies, the bank revealed.

Once the initial rollout is completed, the N26 team will seek to increase the trading service’s reach, with the target being 194 tokens accessible across multiple countries in the next six months.

N26’s entry into the crypto trading space will see it join several other financial service providers already allowing customers to buy and sell crypto through their accounts. Rivals such as PayPal and Revolut already offer these options to their customers, as do payment giants Visa and Mastercard.

According to Gilles BianRosa, chief product officer at the German-based digital bank, the creation of N26 Crypto was informed by the extremely high interest in crypto from its customers. The demand has remained high despite the bear market, BianRosa noted.

N26 Crypto will be powered by Peter Thiel-backed crypto broker Bitpanda. Incidentally, N26 also counts Thiel as one of its most prominent investors.

The post European digital bank N26 launches crypto trading service appeared first on CoinJournal.

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Polkadot price prediction: should you buy the DOT dip?

Polkadot price has been in a strong sell-off in the past few months amid a prolonged cryptocurrency sell-off. DOT plunged to a low of $6.1, which is slightly above this week’s low of $5.69. It has surged by more than 88% from its highest level in 2021. As a result, the total market cap has dropped to about $6.9 billion.

What drove the Polkadot price lower?

Polkadot is a unique blockchain project that was created by Gavin Wood, a computer programmer who was a co-founder of Ethereum. 

It is a unique one compared to other projects like Solana, Ethereum, and Cardano. It focuses on parachains, which are sovereign applications that are supposed to work with each other.

The core of the Polkadot network is known as the Relay Chain. It is described as the nucleus of the network and is responsible for securing, governing, and connecting the parachains. According to how it is developed, the Relay Chain can support between 100 and 250 parachains.

Recently, however, a closer look at the parachains show that they have been having a challenging period. The most troubled one was Acala, one of the biggest challenges in the world. 

Earlier this year, Acala USD (aUSD), which powers the network lost its peg. It is now trading at $0.7, which is much lower than where it should be at $1. As a result, Acala Network’s total value locked (TVL) has crashed to $47 million from its all-time high of $113 million.

Other parachains like MoonBeam, MoonRiver, and Karura have all stumbled. For example, Karura’s TVL has crashed to $14.6 million while MoonRiver has dropped to $110 million.

However, there are some emerging Polkadot platforms. For example, Phala Network coin has jumped by more than 200% in the past 7 days. Others like Energy Web Token (EWT), and Ankr have done well recently.

Polkadot technical analysis prediction

The daily chart shows that the DOT price has been in a strong bearish trend in the past few months. It dropped below the important support level at $10.33, which was the lowest level on July 2021. The coin has moved below all moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50.

DOT is sitting at the lowest level this year. Therefore, the outlook for the coin is neutral. A drop below the support at $5.70 will signal that bears have prevailed and will see it continue falling. A move above the resistance level at $7 will signal that bulls have returned, which will see it rise to $8.

How to buy Polkadot?

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Capital.com

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.

Buy DOT with Capital.com today

The post Polkadot price prediction: should you buy the DOT dip? appeared first on CoinJournal.