Monat: Juni 2023

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Blackrock, Deutsche Bank embrace crypto as AltSignals raises $1M

  • Blackrock is seeking approval to launch the iShares Bitcoin Trust.

  • Deutsche Bank applied for a new crypto custodian license in Germany.

  • AltSignals has raised over $1 million in its token sale.

Large financial services companies are embracing cryptocurrencies even as the Securities and Exchange Commission (SEC) and other regulators fight key companies in the industry. This explains why most cryptocurrencies have staged a strong recovery in the past few days. Bitcoin price is approaching $29,000 while Ethereum has jumped to $1,830. AltSignals, on the other hand, has raised over $1 million from investors.

Blackrock and Deutsche Bank crypto ambitions

The most important crypto news of this month was the decision by the SEC to sue Coinbase and Binance, the two biggest companies in the industry. The SEC made several allegations such as offering unregulated securities and commingling of customer funds.

The impact of these lawsuits could be dire for the industry. For example, if the SEC wins against Coinbase, the company will have to stop offering staking products. Instead, developers of staked products will need to first get a license from the agency.

Meanwhile, there are signs that many large companies are embracing cryptocurrencies. As we wrote here, Blackrock has applied for the iShares Bitcoin Trust. If accepted, this will be the first spot ETF in the crypto industry.

The fund will make it possible for people to have an exposure with Bitcoin without holding the real coin. It will also enable them to hold the coin without using exchanges like Coinbase and Binance.

It is still unclear whether the SEC will allow the spot ETF since it has rejected others in the past. The main difference is that Blackrock has added some measures to prevent price manipulation in its ETF filing.

The other important cryptocurrency news was the official launch of EDX Markets, a non-custodial crypto exchange. This was a crucial development since the exchange is backed by Wall Street companies like Schwab, Fidelity, and Citadel Securities. All these firms have a major role in the US, with Citadel being the biggest market maker.

Meanwhile, Deutsche Bank confirmed that it had applied for a crypto custody license to Bafin. The company hopes to provide crypto banking services to affluent people in Germany. If the company gets the license, it will be a good thing for the market.

AltSignals token sale raises $1 million

Further, AltSignals, a fintech company that provides trading signals, has raised over $1 million from investors through a token sale. The ASI token is going for $0.015 in the first stage of the token sale and the developers hope to boost its price by 25% in the next stage.

For starters, AltSignals is a company that aims to leverage concepts of artificial intelligence (AI) to provide better signals to its customers. The developers aim to use the funds to help them develop the project. 

In future, AltSignals will become a fully-decentralized platform where ASI token holders will be able to vote for key decisions. 

AltSignals is a good investment for three main reasons. First, the token is extremely cheap, meaning that you can make a lot of money without risking much. Second, the company is already profitable even before it embraces AI. And finally, it is disrupting an industry that is valued at billions of dollars.

The post Blackrock, Deutsche Bank embrace crypto as AltSignals raises $1M appeared first on CoinJournal.

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Bitcoin touches $29k for the first time since May: Why is Bitcoin price up today?

Key takeaways

  • Bitcoin briefly touched the $29k level on Wednesday after rallying by more than 6% in the last 24 hours.

  • The rally comes after BlackRock filed for a Bitcoin ETF and Fidelity, Schwab, and Citadel backed a crypto exchange.

Institutional interest pushes Bitcoin higher

Bitcoin has been performing well since the start of the week and set a new milestone a few hours ago. The leading cryptocurrency touched the $29k level for the first time since May after adding more than 6% to its value over the last 24 hours.

At press time, the price of Bitcoin stands at $28,834 per coin. Bitcoin reached a daily high price of $29,110 a few hours ago before retracing to currently trade above $28,800 per coin.

The rally comes as institutional interest in the cryptocurrency market increased in the last few days. 

Earlier this week, BlackRock, the world’s largest asset management firm with nearly $10 trillion in assets under management, applied with the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF). 

The SEC has rejected all the spot Bitcoin ETF applications filed over the years. However, market participants are optimistic that the SEC could approve BlackRock’s application due to the company’s standing.

A few hours ago, EDX Markets, a crypto exchange backed by Fidelity, Schwab, and Citadel, also went live. 

The increased interest in the crypto market by traditional financial institutions fueled Bitcoin’s rally over the last 24 hours. 

Bitcoin Eyes $30k

Bitcoin could be looking to break past the $30k psychological level in the near term if the current market momentum is maintained. The technical indicators currently show that Bitcoin is bullish.

If the Bulls can maintain the current market sentiments, Bitcoin could rally toward the $30k level in the next few hours. 

The total cryptocurrency market cap surged past the $1.1 trillion mark a few hours ago as Bitcoin and the other leading cryptocurrencies rallied. 

The post Bitcoin touches $29k for the first time since May: Why is Bitcoin price up today? appeared first on CoinJournal.

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Stacks (STX), Optimism (OP), Kaspa (KAS) top gainers as Bitcoin rallies

  • Stacks (STX) price was up 25% as Bitcoin (BTC) broke above $28k for the first time in weeks.
  • Optimism (OP) and Kaspa (KAS) also gained double-digits.
  • The tokens were outperforming major altcoins such as Ethereum, BNB and XRP.

As Bitcoin (BTC) broke to highs above $28k on Tuesday, several altcoins took cue to post huge moves. 

Top market cap coins like Ethereum (ETH), BNB (BNB), XRP (XRP) saw modest gains. However, a few stand out performers on the day included Stacks (STX), Optimism (OP) and Kaspa (KAS).

Stacks price

Stacks (STX) is outperforming peers today with a 25% price surge in the past 24 hours. The coin’s stellar performance has recently been down to the growing popularity of Bitcoin Ordinals. With Bitcoin-based NFTs on the rise, the demand for STX has increased.

The token traded to highs of $0.76 on Tuesday, up from lows of $0.58. The all-time high for Stacks is $3.39, which was reached in December 2021.

Optimism price

Optimism (OP) price was up 18% at the time of writing. The price of the L2 blockchain hit $1.34 on Tuesday afternoon after trading at lows of $1.06 this week, with the gains coming on the back of the broader market’s bounce.

However, there was another likely trigger for OP price – the launch of an Optimism-powered testnet on the BNB Chain. The opBNB testnet went live on Binance’s BNB Chain on Monday and saw the OP token begin to soar amid increased trading volumes. Optimism price hit its all-time high of $3.22 in February this year.

Kaspa price

Kaspa (KAS) also saw double digit gains on Tuesday to rank among the biggest gainers in the top 100 coins by market cap. With price up more than 11% on the day, KAS inched further into bulls’ territory with over 40% upward action in the past week. 

KAS/USD was trading at $0.022 at the time of writing, which is about 46% off the coin’s all-time high of $0.043 reached in April this year.

Recently, the Kaspa team announced a funding pool initiative that targeted eventual KAS listing on the cryptocurrency exchange Bitpanda. The L1 proof-of-work blockchain network implements the GHOST protocol, which has been cited in the whitepapers of Ethereum, Cardano and XRP.

The post Stacks (STX), Optimism (OP), Kaspa (KAS) top gainers as Bitcoin rallies appeared first on CoinJournal.

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BTC spikes as bulls break $28k: Analysts share predictions

  • Bitcoin rose to $28,150, its highest level in three weeks.
  • The upside comes as sentiment flipped positive on ETF news amid further whale accumulation.
  • Analyst say BTC could test new year-to-date highs but bulls have to hold a key support area.

The price of Bitcoin (BTC) broke above the $28k level for the first time in three weeks, with BTC trading to highs of $28,150 on Tuesday afternoon. The gains continued the cryptocurrency’s resurgence after it recently fell below $25k.

Today’s upside saw BTC/USD jump more than 5% in 24 hours, the action resulting in the market’s largest short squeeze so far in June. Bitcoin’s dominance index also rose to above 50%, the first time it hit the level in over two years.

Bitcoin gains as sentiment flips amid whale accumulation

As the price moved to the key resistance level, crypto analytics platform Santiment pointed to the increasing trading volume and token circulation.

“Bitcoin has made a huge run in the past 4 hours, rising from $26.7k to $28.0k (+4.9%) in this brief time. The 3-week $BTC price high is being powered by rising trading volume and token circulation, both factors that often imply continued growth,” the market intelligence platform tweeted.

Bitcoin price rose as dominance hit 50%. Source: Santiment

Earlier, the company had shared data showing whales have exploited the recent downside to add to their holdings. While the shrimps to fish cohorts have been busy adding to their total holdings over the past month, whales with 1,000 to 10,000 BTC have added 131,600 BTC worth over $3.5 billion since the start of April.

Bitcoin price outlook – analyst share predictions

Bitcoin’s latest gains also come after headline news around the filing of a spot Bitcoin ETF by BlackRock and reports of a similar move by Fidelity Investments. It appears bulls can now target the $30k level, although the intraday highs zone could prove to be a key hurdle.

While Bitcoin was trading around $27,950 at 4:00 pm ET on Tuesday, the gains bulls notched earlier had the world’s largest coin by market cap at levels experts have said need to break for further upside momentum.

“The burden of proof is increasing upon the bears in Bitcoin $BTC,” veteran trader Peter Brandt noted on Twitter. “The retesting of the underlying H&S has been well supported and a possible falling wedge is being completed on daily line chart.”

Here’s the chart the veteran trader shared.

Meanwhile, crypto analyst Ali has highlighted that Bitcoin’s upsurge has bulls at “stable support”.

“As long as #BTC holds above the $26,160 – $26,970 range, it has a good chance of reaching new yearly highs,” he predicted. The analyst notes that about 2.26 million addresses purchased more than 1.14 million BTC at the above range.

The post BTC spikes as bulls break $28k: Analysts share predictions appeared first on CoinJournal.

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Chancer sold over 25% of its presale tokens within a week

Key takeaways

  • Chancer has sold more than 25% of its presale tokens within a week of launching its first presale event.

  • The team seeks to raise $1 million in the first presale and will carry out 11 more presale events afterward. 

Chancer has raised more than 25% of its required funding in its presale stage just a week after it was launched. The development team has raised more than $250,000, an indication that the project could become popular amongst investors.

With more than 25% of the allocated tokens already sold, does this present an opportunity for investors to look at the project? 

What is Chancer?

The Chancer presale started a week ago, and numerous investors have already invested in the project. However, before you invest in the project, you might want to look at the project and what it brings to the broader crypto market. 

Chancer is a unique Web3 peer-to-peer (P2P) custom betting platform that allows users to live stream betting events. 

Similar to hundreds of other projects within the web3 ecosystem, Chancer is decentralised. This means that it operates a decentralised betting platform that allows users to bet on a wide range of events, beyond the sporting and popular ones. 

Chancer seeks to develop a P2P betting platform that allows users ti enjoy betting markets in real-time and based on user interests, social media connections, and expertise. 

According to their whitepaper, Chancer eliminates the constraints put in place by bookmakers. Users can set their own custom P2P betting markets using its decentralised platform. 

Perhaps one of the biggest selling points of Chancer is that it is a betting platform that is not exclusive to sporting or popular events. Users can bet on sporting events such as football and basketball matches.

However, they can also bet on any event they desire, whether mainstream or made-up. They can predict odd events such as the day man will walk on Mars or even personal bet amongst friends and colleagues to determine the first person to complete a task, 

Chancer raises over $250,000 in a week

Chancer’s token presale launched on June 13th, and the team has already made huge strides so far.

Over the last seven days, Chancer has raised $258,000, which is more than 25% of the required funds. The team seeks to raise $1 million during the presale stage and will use the funds to develop some of its products. 

CHANCER is the native token of the Chancer ecosystem and will power various activities on the platform. In the presale stage, CHANCER is going for $0.01 BUSD per token. 

The CHANCER token allows holders to create markets and invest in markets created by other users. Furthermore, the token would enable users to create, participate in, and profit from their very own predictive markets. 

Users can find and participate in markets based on their interests, expertise, and social opportunities.

The development team will also allow token holders to stake their CHANCER token, allowing them to earn more money by providing liquidity to the ecosystem. 

CHANCER token holders will also get to enjoy fees for creating and participating in markets. Furthermore, the tokens would be used to reward participants for successful betting outcomes, boosting the platform’s engagement. 

This is the first presale, and the team will organise 11 more after this. The Chancer team seeks to raise $15 million over the course of the 12 presale events. 

At the moment, investors can connect a wide range of wallets to the Chancer presale. Investors can buy CHANCER tokens by connecting their Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow wallets to the Chancer platform. 

Should you invest in Chancer?

The decision to invest in Chancer should come after in-depth reading of the project’s whitepaper and an understanding of how it works. However, Chancer could prove to be an interesting project due to its unique nature.

Chancer is focusing on decentralising the betting ecosystem and could get a sizeable market share if the adoption rate soars. 

The platform allows users to enjoy transparent and easier betting processes. Chancer is still in its early stage, and the token currently goes for $0.01 BUSD in the current presale. The team will increase the price to $0.011 in the next presale event. 

The post Chancer sold over 25% of its presale tokens within a week appeared first on CoinJournal.