Juni 2023 - Seite 45 von 55 - Finanzmittel Info + Krypto + Geld + Gold

7. Juni 2023

Cathie Wood boosts stake in Coinbase stock despite SEC lawsuit

The U.S. SEC sued Coinbase Global for violating securities laws this week.
Wood bought $21 million worth of Coinbase stock on consequent sell-off.
Coinbase stock is currently up nearly 60% versus the start of the year.

Cathie Wood remains bullish as ever on Coinbase Global Inc even though it has again come in the crosshairs of the U.S. Securities and Exchange Commission.

Wood spends $21 million on Coinbase stock

On Tuesday, the SEC sued Coinbase for violating securities laws that resulted in an over 10% hit to its stock price – a sell-off that Wood saw as an opportunity to load up on 419,324 shares of the crypto exchange.

The Founder and CEO of Ark Invest spent about $21 million in total on the said purchase that was spit between three of her exchange-traded funds – Ark Innovation, Ark Next Generation Internet, and Ark Fintech Innovation.

It is noteworthy here that Wood expects Bitcoin to hit $1.3 million by the end of this decade. To that end, she’s been adding to her position in Coinbase stock this year. It is now her sixth biggest holding.

Coinbase Global’s response to the SEC

The lawsuit against Coinbase doesn’t come as much of a surprise considering it was served a “Wells Notice” earlier this year. Responding to the SEC complaint, the crypto company said:

Remember, SEC reviewed our business and allowed us to become a public company in 2021 and there’s no path to come in and register – we tried, repeatedly, so we don’t list securities.

Who also remains bullish on Coinbase stock despite the SEC’s aggressive move is HCW analyst Mike Colonnese.

He maintained his “buy” rating on the crypto exchange this morning and said its shares could climb all the way up to $77 – a rather lucrative 45% return from here.

The post Cathie Wood boosts stake in Coinbase stock despite SEC lawsuit appeared first on CoinJournal.

7. Juni 2023

Sweat Economy to decide the fate of 2B idle SWEAT tokens via Governance Vote

There are 2 billion idle SWEAT tokens in inactive user accounts.
These idle tokens constitute approximately 13% of the SWEAT token total supply.
Sweat Economy has launched a new Governance Vote to decide the fate of these idle tokens.

Pioneering move-to-earn project Sweat Economy is today launching a new governance vote in the Sweat Wallet application, which is set to launch in the US this year. The vote to allow the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts.

The idle tokens were locked up in a 24-month contract in the inactive user accounts. However, it is not clear what should happen to the tokens once the lock-up time ends.

The tokens were left unclaimed after the Token Generation Event (TGE) that took place last September. A number of Sweat Economy users did not activate their Sweat Wallet application to claim the tokens.

The new Sweat Economy governance vote

The new governance vote will give SWEAT token holders an opportunity of participating in answering the lingering question of what should be done with these idle tokens.

Users will be deciding on whether to have the 2 billion idle SWEAT tokens recovered and transferred back to the Sweat Treasury for potential future distribution or other uses as decided in future votes or to leave these tokens in the inactive user accounts.

75,000 votes will have to be cast for the proposal to be accepted or denied. The voting process which begins today will run for seven days to give everyone a fair opportunity to participate. There is also a possibility of the vote being extended if there will be an n influx of voters.

There were 153,783 participants in the most recent voting process which makes Sweat Economy believe it could see even higher engagement given the number of tokens at stake.

The post Sweat Economy to decide the fate of 2B idle SWEAT tokens via Governance Vote appeared first on CoinJournal.

7. Juni 2023

3 reasons why Bitcoin price remains resilient

Binance and Coinbase are sued by the SEC
Bitcoin price remains resilient
Scarcity, inflation rate halving, and an increase in the number of users help Bitcoin

Once again, cryptocurrency investors are tested. In a span of 24h, several things challenged the market again.

First, Binance, one of the largest crypto exchanges in the world, was sued by the Securities and Exchange Commission with thirteen charges. Second, Coinbase was sued by the same authority for operating as an unlicensed broker in the US.

Moreover, the SEC filed court documents to freeze Binance’s US assets. Given how strategically important these two players are for the industry, how come Bitcoin price remains resilient? Here are three reasons that might explain such resilience:

Scarcity
Increased number of holders
Halving inflation rate

Scarcity

The upper limit of supply is mathematically fixed at 21 million. This scarcity makes Bitcoin attractive in the eyes of many investors, as it resembles a digital store of value.

The number of users/holders increases

More and more people use or hold Bitcoin. Throughout the years, the number of users and holders increased considerably despite the industry being challenged constantly by fraudsters or, in this case, lawsuits.

Inflation rate halving

By April 2024, Bitcoin’s inflation rate halves again. It means that it will be lower than that of gold, which makes it an attractive asset to those looking for a hedge against inflation in times when inflation reached alarming levels, even in the developed world.

The post 3 reasons why Bitcoin price remains resilient appeared first on CoinJournal.

7. Juni 2023

Stacks price outlook: What next for STX after going vertical?

Stacks crypto price jumped to the upper side of the descending channel.
The coin jumped because of its close relationship with Bitcoin.
This rebound could be part of a dead cat bounce.

Stacks price has staged a strong comeback in the past two days even as concerns about regulations in the US continued. STX has jumped by more than 15% in the past 24 hours. In all, it has jumped by over 22% from the lowest level on Tuesday.

A possible reason for the rally

Stacks is a unique blockchain that creates a layer where developers can create applications for the Bitcoin ecosystem. According to its website, the network has over $901 million locked in its staking ecosystem. In the past few months, the network has distributed over 2000 BTCs to stakers.

It is unclear why Stacks price has jumped sharply in the past 24 hours. A likely reason is that this rally in sync with that of other coins. Bitcoin has risen by over 3% in the past 24 hours while other altcoins like Terra Classic and Pepe have jumped by double digits in the same period.

The other reason is that Bitcoin’s ecosystem is growing, helped by Ordinals, the popular NFT platform. Data by TokenTerminal shows that Bitcoin fee revenue in the past 30 days came in at over $102.7 million, making it the second most profitable network in the industry.

Additional data by CryptoSlam shows that the total Ordinals sales jumped to a record high in May. Sales soared to over $195 million in May from the previous $33.2 million.

While Stacks has no association with Ordinals, its success means that more developers could move to its ecosystem soon.

Further, STX price rose because Bitcoin seems safe in the ongoing war on exchanges like Coinbase and Binance. The agency highlighted some of the tokens that it sees as being securities. Bitcoin was not one of them.

Stacks price prediction

The other reason why STX price has jumped is that this could be a dead cat bounce, which happens after an asset dips sharply. On the daily chart, we see that the coin retested the upper side of the descending channel shown in orange. Most importantly, Stacks’ 50-day and 100-day moving averages have made a bearish crossover.

Therefore, I believe that the coin has more downside to go unless it moves above the two moving averages. If this happens, the next level to watch will be at $0.5200, the lower side of the channel.