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Market highlights January 10: Crypto market recovering, techs drag SPX500 down

The crypto market was higher over the past 24 hours, as the majority of top 10 cryptos were in the green at time of writing. Bond prices have tumbled in the first week of 2022, with the worst week for 10-year bonds since 2019. 

Tech stocks were among the worst affected sectors in the SPX500 as investors sold growth stocks more broadly in response to the Fed minutes and bond market sell off. The IT sector fell 4.69% while health care was down 4.65%.

Real estate was the worst performing sector, however, falling 4.95%. On Friday, the NASDAQ100 fell 1.10% while the SPX500 was down 0.41% and the DJ30 was off marginally by 0.01%.

Top cryptos

Bitcoin registered small gains, trading above $42,000 at the time of writing. Ethereum climbed around 1%, while Solana and XRP registered small gains. Cardano was the only top 10 crypto in the red this morning, registering minor losses.

Polygon is the 14th biggest coin by market cap and the top 20’s biggest winner today. Currently, the live price is $2.10 with a 24-hour trading volume of $1.13 billion. Polygon’s native token MATIC has gained almost 6% in the last 24 hours. 

Top movers

Immutable X, the first layer-two scaling solution for NFTs on Ethereum, is one of the strongest performers in the top 100 biggest coins by market cap today. It gained an impressive 14% in the last 24 hours on news of an upcoming Binance listing. 

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. It is the second-biggest gainer along with Kadena, adding 9% to its value today.

Kadena has been doing well recently. It has the only scalable layer 1 PoW blockchain along with Pact, the safest smart contract language. 

Zcash is a decentralized cryptocurrency focused on privacy and anonymity and one of today’s biggest gainers. It was up 8% at the time of writing.

Oasis Network (ROSE), a privacy-focused layer 1 blockchain built for open finance and a responsible data economy using the Cosmos SDK, is up 7% in the last 24 h. The SDK will allow Oasis to interact with the ecosystem of the Cosmos (ATOM)-enabled blockchain when its Inter Blockchain Communication Protocol launches. 

Fantom and Arweave are still going strong. They’ve been bullish over the past week. Today, each gained 6%.

In the top 100, Gnosis is the biggest loser. Ranking #98, the decentralized prediction market built on the Ethereum protocol is down 9% in the last 24 h. YFI, the token of Yearn.Finance, and Bora both lost 6% today.

Trending

NinjaFloki, a gaming-based passive income generating cryptocurrency, continues its spectacular gains. It’s up 1,265% today.

The live Alchemy Pay price today is $0.087 with a 24-hour trading volume of $101.6 million. Alchemy Pay is up 46% in the last 24 hours on news of an upcoming Binance listing.

The post Market highlights January 10: Crypto market recovering, techs drag SPX500 down appeared first on Coin Journal.

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You can now buy Immutable X, which added 14% to its value: here’s where to buy IMX

Immutable X, the first layer-two scaling solution for NFTs on Ethereum, is one of the strongest performers in the top 100 biggest coins by market cap today. It gained an impressive 14% in the last 24 hours on news of an upcoming Binance listing. 

If you want to know more about Immutable X, whether it’s a good investment, and the best places to buy IMX, its native token, you’ve come to the right place.  

Top places to buy IMX now

As IMX is such a new asset, it’s yet to be listed on major exchanges. You can still purchase IMX using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy IMX right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for IMX

Now that you’re connected, you’ll be able to swap for 100s of coins including IMX.

What is IMX?

According to Immutable X, its blockchain does away with Ethereum’s limitations like low scalability, poor user experience, illiquidity, and slow developer experience.

Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security. 

To achieve that, Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin considers Ethereum to be “all-in on.”

Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. 

Chris Clay, the game Ddrector of Gods Unchained, a project already building on Immutable X, stated that Immutable X allows Gods Unchained to implement a new meta-system that was previously impossible. 

In this fashion, Immutable X aims to create a world-class experience for users and developers alike.

Should I buy IMX today?

IMX can be a lucrative investment, but don’t rely on predictions for its price in the future based on current performance, especially long-term predictions. Past or current performance is no guarantee for future such.

IMX price prediction

Wallet Investor believes IMX can be a bad, high-risk one-year investment option. Its price will not increase, resulting in devaluation of any investment. 

Digital Coin Price takes the opposite view. They predict the lowest price of Immutable X in the future will be around $17 and the highest price will be around $18.71. In addition, they forecast 1 IMX will trade for $6 in one year, which is almost three times its current price.

IMX on social media

The post You can now buy Immutable X, which added 14% to its value: here’s where to buy IMX appeared first on Coin Journal.

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Zcash is surging today, up 8% in 24 hours: the top places to buy Zcash now

Zcash is a decentralized cryptocurrency focused on privacy and anonymity and one of today’s biggest gainers. This article explains what Zcash is in more detail, whether it’s worth investing in, and the top places to get Zcash today.

Top places to buy Zcash now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ZEC with eToro today

CAPEX

CAPEX.com is an awarded fintech brand, globally recognized for a strong presence in shaping the future of trading. The company focuses on making the markets more accessible & transforming the way people trade online.

Buy ZEC with CAPEX today

What is Zcash?

Zcash uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.

Contrary to popular belief, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous. 

They do not explicitly reveal the identities of their users, but each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.

Zcash transaction still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, they do not reveal the sending and receiving addresses or the amount being sent. 

There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.

Should I buy Zcash today?

Like all cryptocurrencies, Zcash is a volatile asset. Take all investment advice and price forecasts with a grain of salt and be prepared for the unexpected.

Zcash price prediction

According to Coin Price Forecast, 1 ZEC will trade for $271 at the end of 2022, coming to a year to year change of +83%. In the middle of this year, Coin Price expects to see $187 per 1 ZEC.

In the first half of next year, it will lose some value, falling to $261. In the second half, it will gain $20, closing the year at $281, which is +90% to the current price.

Zcash on social media

The post Zcash is surging today, up 8% in 24 hours: the top places to buy Zcash now appeared first on Coin Journal.