Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Dash price soars 35% to $38 as privacy coins rally; analysts eye breakout toward $60

  • Dash price jumped 35% to above $38, trending near the key resistance zone at $40.
  • Analysts say breakout is possible but key support remains $26 area.
  • DASH gained as privacy coins Zcash and Monero rose to lead the market gainers.

Dash (DASH) price has surged 35% in the past 24 hours as top privacy coins rally.

The Dash token’s value topped $38 as of early Thursday, riding overall gains that have seen Zcash lead privacy coins amid a spike to above $150.

Dash joins the crypto party at a time when bulls are targeting the October uptick that could catapult alts to new highs.

Dash price jumps 35% to near key level

As noted, Dash which is currently trading at $36.69,rose as privacy coins showed gains.

The uptick for ZEC and Monero aided Dash’s impressive 35% leap today. A lot of the upside outlook is down a confluence of this, plus technical and broader macroeconomic catalysts.

In particular, the reaction on Wall Street as the US government officially shut down and capital rotation into top cryptocurrencies looks to fuel DASH bulls.

Privacy coin momentum: Dash mirrors ZEC, XMR gains

The cryptocurrency landscape is currently trending bullish, and one sector witnessing a robust revival is that of privacy coins.

While top coins see notable traction amid ETF and treasury asset moves, small caps like Dash are taking in inflows as concerns over data privacy and regulatory overreach continue.

Monero (XMR) and Zcash (ZEC) are top coins in the privacy coins market. Support for ZEC by Grayscale with a Zcash Trust saw the token’s price skyrocket to highs last seen in April 2022.

Monero, also notching privacy-related momentum, gained over 10%. Dash price is mirroring this as its adoption gains further traction.

Market data reveals a 15-20% average uptick across the sector in the last month, with transaction volumes of privacy-focused tokens rising significantly year-over-year.

Dash price chart by CoinMarketCap

DASH price forecast: Is $60 next target?

For Dash, the last 24 hours have seen trading volumes across exchanges jump over 385% to over $400 million.  This increase in volume signals potential upside continuation.

Crypto traders and analysts at Alpha Crypto Signal shared the update below on the DASH price.

“$DASH has exploded out of its long-standing horizontal channel after months of sideways consolidation,” they posted on X.”DASH had been trapped between 18–26 for almost half the year, building a strong base. The recent surge finally broke through the channel resistance with heavy volume, confirming a bullish breakout.”

The analysts noted that the key level to watch is the $35-$40 zone, with a breakout above this threshold critical to bulls’ ambitions. Gains to $60 or higher could be next amid broader market movements.

However, if profit-taking takes hold, the Dash price could dip to support around $26.

“As long as price holds above the former resistance at 26, the breakout remains valid and buyers stay in control. Another strong showing from the privacy coin sector,” the analysts added.

The post Dash price soars 35% to $38 as privacy coins rally; analysts eye breakout toward $60 appeared first on CoinJournal.

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CAKE eyes 60% rally as PancakeSwap hits $772B trading all-time high

  • PancakeSwap’s trading volume soared to new records in Q3.
  • Market sentiments signal renewed appetite for decentralized exchanges.
  • CAKE flashes recovery signs with a 60% potential breakout.

Digital currencies rallied in the past day as the “Uptober” narrative gained ground.

Bitcoin trades above $118,700, with the global cryptocurrency market cap up 3% on the daily timeframe to $4.07 trillion.

Altcoins look poised for substantial surges in the coming weeks.

This article evaluates CAKE, which eyes breakouts, fueled by key fundamentals.

PancakeSwap, the leading decentralized exchange on BNB Chain, has announced that it processed trades worth $772 billion the previous quarter, the highest ever recorded.

The figure sparked excitement across the cryptocurrency community as it confirms a significant resurgence for decentralized trading.

The trading milestone highlights renewed user activity and liquidity flowing into decentralized finance.

Meanwhile, the announcement came at a vital time, with players bracing for potential October rallies.

Analysts have shifted to the DEX’s native token CAKE, which appears ready for significant breakouts to the $4.20 target.

That would mean approximately 61% of the altcoin’s current market price.

Decentralized platforms gain traction

PancakeSwap’s comeback coincides with shifting tendencies in the trading world.

Decentralized platforms are dominating trends amid dissatisfaction with CEXs and complex yield opportunities.

Besides Pancakeswap’s trading breakthrough, perpetual DEXs like Hyperliquid and Aster confirm these shifts.

CAKE price gains momentum

PancakeSwap’s native token looks to capitalize on this reinvigorated energy.

CAKE is hovering at $2.63, gradually gathering upside strength.

Bulls are targeting the psychological level at $3.

Stability above this mark could support a short-term 60% uptick toward $4.20.

Analyst Rose Signals issued a more bullish forecast.

They highlighted that the alt has traded within a symmetrical pattern for roughly 2 years and retested the 100 Exponential Moving Average several times.

The chart shows a cup-and-handle pattern forming inside the channel, cementing the bullish case.

Rose expects CAKE to extend its breakout to $10.6 and $19.97 in the anticipated fourth-quarter bull run.

The renewed trading activity on PancakeSwap would likely renew demand for CAKE and support the upside journey.

PancakeSwap’s $772 billion milestone underscores massive liquidity and trust in its long-term potential.

For CAKE, the optimism translates to a thriving project and stronger fundamentals.

Such indicators mean magnified utility for the native token.

Also, the Binance ecosystem has remained hot lately.

BNB has already kick-started the upside party by crossing $1,000, and it might be time for other related coins like CAKE to shine.

The “Uptober” narrative adds weight to the bullish tale.

Cryptocurrencies start Q4 rallies with substantial breakouts in October, with BTC eyeing $170,000 after a strong September.

Analyst Michael van de Poppe believes “dips are for buying” as the market has entered an upside mode.

He expects more rallies to all-time highs in the coming weeks.

However, short-term CAKE traders should watch the support zone at $2.50.

Losing this barrier could trigger a dip to $2 and undermine the optimistic outlook.

The post CAKE eyes 60% rally as PancakeSwap hits $772B trading all-time high appeared first on CoinJournal.

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Chainlink and Swift allow banks to access blockchain through existing systems

  • Chainlink and Swift enable tokenized fund workflows via existing banking systems.
  • UBS pilots new Chainlink-Swift system, avoiding costly infrastructure upgrades.
  • Global institutions can connect with crypto using their tested rails.

Chainlink and Swift have deepened their collaboration with a new system designed to help financial institutions manage tokenized fund processes using existing infrastructure.

The initiative integrates Swift’s global messaging network with the Chainlink Runtime Environment (CRE), enabling subscription and redemption workflows for tokenized assets without requiring firms to overhaul their legacy systems.

The first pilot involved UBS Tokenize, the tokenization unit of Swiss bank UBS, and builds on earlier work with the Monetary Authority of Singapore’s Project Guardian initiative.

The collaboration aims to demonstrate how blockchain technology can be applied to streamline traditional financial processes, opening the door for broader adoption of tokenized assets.

Plug-and-play infrastructure for tokenization

The new solution leverages Swift’s ISO 20022-compliant messaging standards alongside Chainlink’s CRE and its Digital Transfer Agent (DTA) technical standard.

Institutions can trigger smart contract events directly through Swift messages, reducing the need for entirely new identity or key management solutions.

Commenting on the milestone, Chainlink co-founder Sergey Nazarov said:

I’m very excited about this landmark innovation we’ve achieved by leveraging Swift’s standards and UBS’s tokenized asset design, as we are showing how the use of smart contracts and new technical standards can enable transfer agents and other entities to manage tokenized asset workflows on-chain.

Markets have responded with optimism as they watch a potential financial revolution unfolding in real-time.

The UBS trial has confirmed that institutions like banks can integrate cryptocurrencies into their existing operations without the need for painful learning curves, new platform launches, or major changes.

Nonetheless, today’s developments come after months of work.

In 2024, UBS, Chainlink, and Swift explored how tokenized funds could operate in Singapore’s Project Guardian.

The latest experiment takes everything to a new level, demonstrating blockchain’s compatibility with already-existing systems.

Chainlink highlighted:

With Swift messages and the Chainlink Runtime Environment (CRE), banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades.

The broader picture

Blockchain integration into traditional finance (TradiFi) has often felt like connecting two incompatible worlds.

Chainlink and Swift’s innovative model aims to change that narrative.

Rather than asking banks to go all-in on a new technology, they can tap into cryptocurrency using familiar systems – Swift’s messaging.

It is a simple move but with profound effects.

If successful, the approach could herald a new era, with blockchain part of day-to-day undertakings in global finance.

For institutions looking to leverage blockchain’s robustness, the new system means more opportunities and reduced risks.

LINK price outlook

Chainlink’s token remained relatively calm amid the news, up 1% on its daily chart to $21.

However, the 35% uptick in 24-hour trading volume signals renewed activity.

It has consolidated in the past week and looks poised to lead October breakouts.

Popular analyst Ali highlighted $20 launchpad for LINK rebound to $47.

That would mean a roughly 124% surge from LINK’s market price.

The post Chainlink and Swift allow banks to access blockchain through existing systems appeared first on CoinJournal.

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Nasdaq-listed Helius Medical Technologies rebrands as Solana Company

  • The name change signals deeper alignment with the blockchain industry.
  • The company will enjoy various benefits, including discounted SOL coins and joint initiatives.
  • Solana Company focuses on creating a crypto treasury strategy centered on SOL purchases.

Helius Medical Technologies, Inc. (Nasdaq: HSDT) has officially rebranded as Solana Company, signaling a bold shift as it dives deeper into the blockchain sector.

The move comes after the neurotech firm recently raised $500 million (backed by top names including Summer Capital and Pantera Capital) in mid-September to launch a Solana treasury.

The rebrand reflects a strategic alignment with Solana’s blockchain sector, recognized as the fastest-growing ecosystem in digital assets.

Such dedications demonstrate confidence in Solana’s future potential.

Commenting on the rebrand, Helius Executive Chairman and Summer Capital’s Chair Joseph Chee says:

HSDT’s announcements today, including a corporate name change and agreement with the Solana Foundation, showcase its long-term conviction in Solana. The clear long-term alignment is a show of support and a sign of strength for the Solana Company’s mission.

HSDT deepens ties with Solana Foundation

Besides the name change, the firm, together with some investors, signed a non-binding letter of intent with the Solana Foundation.

What does this mean? Well, the agreement outlines various commitments (“Solana By Design).

These include ensuring all blockchain activities happen exclusively on the Solana blockchain, hosting events to highlight the network’s capabilities, and partnering on institutional referrals.

Most importantly, the deal gives Solana Company a crucial financial lever.

The firm can purchase SOL assets from the Foundation at discounted prices.

Meanwhile, it can leverage such perks to strengthen its treasury position, which in turn boosts the Solana ecosystem.

Fueling Solana adoption with Digital Asset Treasury

Besides the name change and deepened collaboration, Solana Company plans to form a digital asset treasury (DAT) centered around SOL assets.

This month, Helius Medical confirmed raising $500 million, dedicated to funding its cryptocurrency treasury plans.

Meanwhile, benefits such as speed, scalability, and yield possibly attracted the firm to Solana.

It can utilize SOL’s yield-bearing mechanism, which offers about 7% native staking yield, to magnify returns on its crypto holdings.

Solana has more monetary gains than non-yield-generating cryptocurrencies like Bitcoin.

HSDT strategic advisor and Pantera’s managing partner, Dan Morehead, said:

DATs are providing access to the blockchain market to a new kind of investor. Solana Company is well set up to be the preeminent SOL DAT by introducing Solana to a growing audience.

SOL price outlook

Solana’s native token traded in the green today, fueled by broader recoveries.

The global crypto market cap increased by over 2.7% in the past day to $3.9 trillion.

SOL trades at $208 following a 2% increase in its daily chart.

The 85% uptick in 24-hour trading volume signals improving sentiments as the altcoin looks to rebound after plunging from mid-September peaks of $250.

Meanwhile, institutional interest, including RWA dominance, positions SOL for remarkable performance in the coming months and years, with proponents targeting the $1,000 milestone.

The post Nasdaq-listed Helius Medical Technologies rebrands as Solana Company appeared first on CoinJournal.

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FTT price on the edge as FTX creditors brace for $1.6B payout on Sept. 30

  • FTX creditors will receive $1.6B in reimbursement tomorrow.
  • This is the 3rd major distribution in the bankrupt firm’s restructuring program.
  • FTT has lost $1 psychological mark after hitting $1.20 peaks this week.

The defunct cryptocurrency exchange, FTX, is set to distribute roughly $1.6 billion to its creditors in its Third Distribution round on September 30.

The move marks a significant step in the exchange’s bankruptcy process following the late 2022 collapse.

Meanwhile, tomorrow’s payout represents the third disbursement to date and targets non-convenience and convenience class claim creditors who meet all pre-distribution necessities.

FTX’s native token has lost a crucial level ahead of the massive distribution.

It trades at $0.9424 after mild bearishness in the past day.

FTT has underperformed as most tokens rallied on Monday.

FTT drops below $1

FTX’s native token dipped below $1 as investors brace for relief.

FTT always reacts to developments associated with the insolvent exchange.

While the crypto market reversed today, FTT weakened at the $1 psychological mark.

It is trading at $0.9487, with an over 70% surge in trading volume signaling increased trader activity.

The bearish hints could indicate traders bracing for potential sell pressure once the reimbursement begins.

Moreover, the price fluctuation reflects lingering uncertainty around FTT’s use cases and roles after the FTX debacle.

The altcoin has no utility at the moment. No longer supported by a running trading platform, FTT survives on speculation.

Weekly gains still intact

While bears fight to control daily trends, the weekly chart paints a bullish story.

FTT holders have seen their holdings increase by over 13% in the last seven days.

The upward trajectory follows a sharp rally last week.

The digital coin recorded a 60% single-day rally on September 24.

The dramatic jump came after Sam Bankman-Fried’s X handle unexpectedly broke its silence with a “gm” post.

The simple message, which means “good morning, sparked frenzy as it was the first post since early this year.

FTT rallied to the $1.20 weekly highs after the X post.

The wild price more reflected how sensitive FTT is to any developments linked to FTX and its controversial founder, SBF.

What’s next for FTT’s price?

The altcoin remains poised for heightened volatility as creditors prepare for their upcoming compensation.

Meanwhile, technical indicators suggest potential recoveries above $1.

Analyst Dark Pro Trader anticipates bullish moves amidst the creditor payments.

He highlighted a 4-hour chart, which demonstrates a mix of tentative upswings and sharp volatility.

FTT has a key support barrier at $0.78.

The upcoming $1.6 billion in creditor payout might create short-lived demand for the native token.

That might see it targeting weekly highs at $1.20 and clear the path to the notable resistance zone at $1.30.

Such an uptrend would translate to an approximately 27% uptick from FTT’s current market price.

The post FTT price on the edge as FTX creditors brace for $1.6B payout on Sept. 30 appeared first on CoinJournal.