Monat: September 2023

Veröffentlicht am

Stafi (FIS) defies crypto market outlook, token up 13%

  • Stafi (FIS) price is up 3% in the past 24 hours and 13% this past week.
  • The Staking Finance governance token has seen a spike in whale transactions of $100k+, on-chain data shows.
  • Interest is seeing FIS outperform major altcoins.

Stafi (FIS), the governance token of the StaFi protocol, has seen a decent spike in the past 24 hours to bring total gains in the past week to more than 13%.

Currently trading at around $0.29, FIS has outperformed the major cryptocurrencies as they continue to struggle for volatility. All top altcoins by market cap are 2%-5% down in the past seven days, with Bitcoin (BTC) perched above $26k but down 4% in the outlined period. Ethereum, which came under renewed downward pressure following news of Vitalik Buterin’s latest ETH transaction, remains below $1,600 with -3.8% in the past week.

Why is the price of Stafi (FIS) up today?

As noted, FIS is a governance token for the Staking Finance, a DeFi protocol that offers access to liquidity of staked assets.

Other than its use in staking, FIS is used as transaction fees. But traders and investors are increasingly turning to the protocol rTokens, reward tokens that one receives when they stake Proof-of-Stake coins and tokens like Ethereum. These tokens are tradable and act as collateral on lending platforms. In other words, FIS holders have various opportunities of earning, including from staking rewards and lending of rTokens.

Stafi has recently added rTokens for Polygon (MATIC) and Cosmos Hub (ATOM).

Interest in FIS has skyrocketed over the past few weeks, reflecting in the token’s price performance. According to data by market intelligence platform Santiment, FIS is among a few smaller cap altcoins to see a significant uptick in whale accumulation.

Per on-chain data the firm shared on X, whales have been “most active,” in the ecosystems of aelf (ELF), Cream (CREAM), Stafi (FIS) and Linear (LINA). The networks have witnessed a surge in whale transactions involving $100,000 or more.

“These projects have a higher probability to see big swings this week,” Santiment analysts have noted.

The post Stafi (FIS) defies crypto market outlook, token up 13% appeared first on CoinJournal.

Veröffentlicht am

AnchorWatch raises $3 million in seed round led by Ten31

  • Crypto insurance provider AnchorWatch has announced a $3 million round led by investment firm Ten31.
  • AnchorWatch offers Trident Vault, a protocol native custody solution for commercial entities holding Bitcoin.
  • The platform will use the funding to undertake key regulatory and capital requirements.

AnchorWatch, a US-based provider of bespoke insurance products for commercial entities that hold Bitcoin, has closed a $3 million seed round led by Ten31, a firm that invests in companies and platforms building Bitcoin-focused infrastructure.

The round attracted participation from Bitcoin Magazine’s UTXO Management, Axiom BTC, Timechain, and Bitcoin Opportunity Fund among others.

Building a protocol native custody solution

AnchorWatch revealed in a press release on Tuesday that it will use the capital injection to “complete all regulatory and capital requirements.” This is part of the company’s effort to bring Trident Vault, a protocol-native custody solution meant for Bitcoin owners, to the market.

“AnchorWatch is building both the technical infrastructure to advance bitcoin’s potential as programmable money and the credentialed legal/financial infrastructure for bitcoin to be held by commercial institutions via its insurance offerings,” Jonathan Kirkwood, managing partner at Ten31, said in a statement.

According to him, the investment in AnchorWatch is “a pivotal step” that aligns with Ten31’s mission of establishing Bitcoin as a practicable institutional asset.

Trident Vault  is backed by regulated insurance and AnchorWatch’s plan is to start selling policies to customers in due course.

As part of its product development, AnchorWatch will allow credentialed firms to undertake security audits of Trident Vault to ensure it is enterprise-ready. Among main features of this BTC vault are layered security and regulated property insurance, with holder seniority and time-locked spending for compliance and on-chain governance.

The post AnchorWatch raises $3 million in seed round led by Ten31 appeared first on CoinJournal.

Veröffentlicht am

Whale dumps Ethereum (ETH) for Maker (MKR), is this trending DeFi token next?

Whales often make moves that capture the attention of the entire crypto community. One such intriguing manoeuvre unfolded recently when a prominent whale decided to swap Ethereum (ETH) for Maker (MKR), raising questions about their investment strategy and preferences. 

As we delve into this notable shift, we also explore the growing interest among these influential players in DeFi tokens like Borroe.Finance ($ROE).

Maker (MKR) accumulation by a whale

On September 4, an address under the pseudonym “0x3737” held a substantial crypto portfolio valued at over $20.37 million. While this address engages in trades across various cryptocurrencies, what caught the eye of many was their decision to part with Ethereum (ETH) in favour of Maker (MKR). 

A closer examination of the address’s holdings reveals that Ethereum was the cornerstone of their portfolio, representing over 75% of their total assets.

With a whopping 10,000 ETH in their possession, equivalent to approximately $16.3 million at current market rates, this whale had clearly placed a significant bet on Ethereum’s potential. However, the allure of Maker (MKR) proved compelling, with the address holding MKR tokens worth $1.1 million, alongside other assets like Arbitrum (ARB), valued at $2.9 million.

Maker (MKR) stands as the native token of MakerDAO, a decentralized autonomous organization (DAO) pivotal in controlling the creation of DAI, an algorithmic stablecoin native to the Ethereum blockchain. MKR holders play a crucial role in the governance of the DAO, actively participating in decision-making processes that influence the stability and functioning of DAI.

In recent months, Maker (MKR) has experienced a remarkable surge in value, with its price more than doubling since June. This impressive rally saw MKR reach an all-time high of approximately $1,300 in early August, and it currently maintains a trading price above $1,100, marking a 13% increase from its August lows.

Borroe.Finance ($ROE) attracts attention

While the ETH-MKR swap showcases the whale’s strategic investment choices, it also underscores the shifting dynamics within the cryptocurrency market. DeFi tokens, in particular, have garnered increasing interest from whales and retail investors alike. One project that has been gaining recognition in this realm is Borroe.Finance ($ROE).

Borroe.Finance sets itself apart with its innovative approach as an AI-powered funding marketplace. This platform empowers content creators and participants in the Web3 ecosystem to access immediate cash by trading their future earnings. Notably, Borroe.Finance covers a wide spectrum of income streams, including subscriptions, invoices, royalties, and more.

As the cryptocurrency landscape continues to evolve, Borroe.Finance emerges as a promising contender in the DeFi space. Its unique value proposition and ability to cater to diverse financial needs make it an attractive choice for those seeking the best crypto investment opportunities.

Borroe.Finance’s presale

For investors keen on identifying the best crypto investments for long-term gains, Borroe.Finance’s presale offers an enticing proposition. With more than 94 million $ROE tokens already secured and each priced at a mere $0.0150 per token, this presale represents a compelling entry point into the cryptocurrency market.

As the crypto market witnesses intriguing moves by whales and emerging opportunities in the DeFi sector, Borroe.Finance’s presale beckons as an opportunity that should not be overlooked. 

In the quest for the best crypto investments, exploring innovative projects like Borroe.Finance is a step toward securing one’s position in the ever-evolving world of digital assets. For those seeking the best crypto to buy today for long-term gains, Borroe.Finance ($ROE) emerges as one of the top crypto coins to watch and consider. 

Learn more about Borroe.Finance ($ROE), visit Borroe.Finance Presale or Join The Telegram Group or Follow Borroe on Twitter

The post Whale dumps Ethereum (ETH) for Maker (MKR), is this trending DeFi token next? appeared first on CoinJournal.

Veröffentlicht am

Binance Coin under severe pressure, tests the $200 support level

  • Binance Coin forms a descending triangle above important support area
  • 2023 gains are gone
  • A break below $200 should trigger more weakness

The US dollar is the month’s winner as it rallied against its peers and against major cryptocurrencies in September. Moreover, the strength appears to be more visible against cryptocurrencies.

Take Binance Coin for example. It erased all its 2023 gains (and some more). It also formed a descending triangle right above horizontal support seen at $200. This is dangerous for bulls because, if broken, there is not much left to support the price until much lower.

Bearish technical picture for Binance Coin

Binance Coin made a double top pattern during the COVID-19 pandemic. Twice, it tried to break above $700, without success.

Since then, however, it was all downside. The scandals in the cryptocurrency industry surely did not help. After all, FTX went busted, trust was lost, and many chose to leave the industry altogether.

Binance Coin chart by TradingView

In the first quarter of 2022, the Binance Coin found support in the $350 area. It hovered above for a while until breaking lower to the next support level.

Once broken, support became resistance.

So powerful the resistance was that not even the 2023 rally, seen on all major currencies, was enough to break it. Instead, the market formed a reversal pattern (i.e., a triangle) and then erased all its gains for the year.

Currently, it sits right above horizontal support at $200. A break there could spell trouble because there is nothing else to hold the price action until much lower levels.

The US dollar’s strength is a cause of major disruption in the cryptocurrency industry. But so is the uncertainty in the industry, the ongoing scandals, that led to investors fleeing for good.

Bulls may want to see that descending triangle (in blue on the chart above) invalidated by the market. If not, more pain lies ahead.

The post Binance Coin under severe pressure, tests the $200 support level appeared first on CoinJournal.

Veröffentlicht am

Bitcoin Cash price outlook: Symmetrical triangle forms

  • Bitcoin Cash has formed a symmetrical triangle pattern.

  • The two lines are nearing their confluence levels.

  • The Federal Reserve is the biggest risk in the market.

Bitcoin Cash price has held quite well in the past few weeks even as a sense of fear spreads in the market. The BCH coin was trading at $214.50 on Tuesday, higher than this month’s low of $180.

Crypto risks remain

Bitcoin Cash price has done relatively well in the past few weeks. This performance was notable since it happened at a time when global stocks were in a freefall. The Nasdaq 100 index has dropped by more than 7% from its highest level this year.

Bonds have also been in a steep sell-off, which has pushed their yields to the highest level in years. The 2-year yield has jumped to 5% while the 10-year and 30-year have jumped to their highest level in more than a decade.

Bitcoin Cash price has likely done well because of the performance of Bitcoin. The BTC coin has remained above $26,000 even as the fear and greed index dropped to the fear zone of 34.

A likely reason for this price action is that investors are optimistic that the Securities and Exchange Commission (SEC) will approve the Bitcoin ETF by key companies like Blackrock, Invesco, and Fidelity.

If this happens, it means that the SEC will need to approve other ETFs. I believe that some of the coins that will have ETF applications are Ethereum, Litecoin, and Bitcoin Cash.

Still, there are risks in the crypto industry. The biggest risk is that the Federal Reserve has committed to be more hawkish since inflation remains stubbornly high. The most recent data showed that inflation jumped to 3.7% in August.

Bitcoin Cash price forecast

The daily chart provides a good picture of the Bitcoin Cash price action. It has formed a symmetrical triangle pattern shown in green. This triangle is nearing its confluence level, meaning that a breakout or breakdown is about to happen. Bitcoin Cash has moved above the 25-day and 50-day moving averages. 

It is also oscillating at the 50% Fibonacci Retracement level while the MACD has moved above the neutral point. Therefore, the BCH coin will likely remain in this range and then have a bullish breakout soon. If this happens, the key level to watch will be at $240. The support of the coin will be at $180.

How to buy Bitcoin Cash

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy BCH with eToro today

Public

Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.

Buy BCH with Public today

The post Bitcoin Cash price outlook: Symmetrical triangle forms appeared first on CoinJournal.