Im achten Sanktionspaket verbietet die EU nun vollumfänglich das Erbringen von Krypto-Dienstleistungen gegenüber Russland und russischen Staatsbürgern.
Südkorea nimmt erste Person aus der Geschäftsführung von Terra fest
Die Schlinge um die Geschäftsführung von Terraform Labs zieht sich immer mehr zu.
Solana price has crashed by 75% in 2022: what next?
Solana price is having a difficult year as concerns about the network remain. SOL has crashed by more than 70% this year, making it one of the worst-performing big-cap cryptocurrencies in the world. Its market cap has dropped to $12 billion.
Solana challenges remain
Solana is one of the biggest blockchain projects in the world. It is a smart contract project that makes it possible for developers to build quality decentralized applications (dApps). In fact, it has been used to build some of the biggest projects in the industry.
Some of the most popular dApps created in Solana are Solend, StepN, Audius, Brave, and Magic Eden among others.
Recently, however, there are challenges in its ecosystem. For example, the total value locked (TVL) in Solana’s ecosystem has dropped from more than $15 billion to the current $1.3 billion. This decline has happened across chains, including Ethereum and Avalanche.
However, a quick look at its DeFi apps shows that only 7 apps have a TVL of $100 million and above. Solend has a market dominance of almost 20%.
Meanwhile, like other chains like Ethereum, Flow, and Immutable X, the volume of Solana NFTs has been in a downward trend in the past few months. After peaking at more than $311 million in April, the volume dropped to more than $129 million in September. Broadly, there are concerns about the future of the NFT industry.
Still, the biggest challenge for Solana is its growth amid the regular outages. Last week, the network went offline in its sith outage this year. The outage came a year after a nearly 18-hour outage that happened in September last year.
Therefore, there are concerns about whether new developers will continue moving to the network. Besides, platforms like Avalanche and BNB rarely have such outages.
Solana price prediction
The four-hour chart shows that the SOL price has been in a tight range in the past few days. In this period, the coin has remained between the ascending channel shown in green. It is also consolidating at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved slightly above the neutral point at 50.
So, is it safe to buy Solana? the outlook of Solana at this stage is neutral with a bearish bias. If this happens, the next key support level to watch will be at $32, which is the lower side of the ascending channel.
How to buy Solana
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.
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 SOL with Capital.com today
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Cake DeFi announces the launch of its ETH staking service
Cake DeFi has launched its Ethereum staking service and also allows users to unstake their tokens whenever they like.
Cake DeFi, the leading, fastest-growing Singapore-based fintech firm providing easy access to Decentralised Finance (DeFi), has announced the launch of its Ethereum staking service.
According to the press release shared with Coinjournal, Cake DeFi said its ETH staking service comes with added access to liquidity via a tradable token that can be sold in the open market.
Staking ETH tokens is now possible thanks to the Ethereum network’s recent migration from its proof of work to proof of stake protocol.
While staking on the Ethereum network is now possible, Cake DeFi explained that unstaking is currently not supported by the Ethereum network. Investors will have to wait for the Shanghai upgrade to unstake their ETH, which could be a year or so later.
Cake DeFi said it would soon make it possible for its users to stake and unstake ETH tokens whenever they wish. Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi, commented that;
“ETH Staking is the latest addition to our popular Staking service. We made a deliberate decision to host our own nodes in Singapore. At the moment, Ethereum nodes are mostly concentrated in North America and Europe. Hosting our own Singapore-based nodes will boost the confidence of investors and developers in the region and support the spirit of decentralization. Many exchanges and platforms are not offering ETH unstaking until the Shanghai upgrade, but it was important for us to provide liquidity to our ETH stakers which will be achieved via an open market.”
Cake DeFi said its ETH Staking service would enable users to earn around 5% annual percentage yields in return. Returns in Cake DeFi’s ETH staking will also be auto-compounded every 12 hours to generate significantly more returns compared to non-compounding ETH staking, the team added.
Cake DeFi is a fully transparent, highly innovative fintech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is subject to applicable laws and regulations in Singapore.
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Asset management firm GoldenTree invests $5.2 million in Sushiswap
Asset management giant GoldenTree has taken another leap in the crypto space after investing about $5.2 million in the SushiSwap governance token.
Asset management firm GoldenTree announced via the Sushiswap forum on Wednesday that it has invested $5.2 million in Sushiswap.
GoldenTree, which has around $47 billion in assets under management, revealed that it had been following Sushi for a while. The firm said the launch of its crypto-focused GoldenChain Asset Management arm made it excited to invest in Sushiswap. GoldenTree said;
“We wanted to take a moment to introduce ourselves to the community. We’ve been following Sushi for a while (some of us for several years now), and with the launch of GoldenChain, we are psyched to be more active in all things Sushi. We’re excited about the Sushi 2.0 roadmap, and think upcoming cross-chain integrations for swapping and lending (Sarang is incredibly thoughtful on this front), and updated tokenomics (we’ve been throwing them some ideas around tokenomics) have the potential to be transformative for Sushi.”
SushiSwap, similar to Uniswap, is a decentralised exchange (DEX) that allows people to easily swap one token for another.
Users can buy Sushiswap tokens on a wide range of centralised and decentralised cryptocurrency exchanges.
The GoldenTree team added that it believes Sushi has incredible potential. They added that;
“To GoldenTree, Sushi represents the best of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating, without artificial barriers to competition. We love the approach to new, composable products such as Trident and Bento that give developers frameworks on which to layer on complexity has been quite novel. We don’t think the full power of these products has been unlocked yet or appreciated by many devs.”
The Sushiswap vs. Uniswap comparison continues to be present in the crypto space. The Sushiswap decentralised exchange was created as a copy of Uniswap, with added liquidity mining and governance features.
The first ever community/DAO driven election of a Head Chef has been a huge success 🎉
We’re excited to introduce you to Sushi’s Head Chef @jaredgrey:https://t.co/2tRJOaEi4X
💬 Want to ask questions in person? Join our Forum!
📩 RSVP: Oct 6 – 5pm UTC: https://t.co/8F0Qrhf8Rv pic.twitter.com/jpzhPus7wx
— SushiSwap (@SushiSwap) October 4, 2022
The investment comes a few days after Sushi community members elected Jared Grey as CEO. GoldenTree said the community has been through some tough challenges, and it has been amazed at the resilience of both the core team and the community in the face of these speed bumps.
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