Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Chainlink teams up with Fidelity and Sygnum to bring NAV data onchain

  • Chainlink partners with Fidelity and Sygnum to bring NAV data onchain for real-time access.
  • The collaboration enhances transparency and efficiency in NAV reporting using blockchain.
  • This initiative sets a new standard for asset management, highlighting DeFi’s potential.

In a groundbreaking move for the cryptocurrency and financial sectors, Chainlink has partnered with Fidelity International and Sygnum to bring Net Asset Value (NAV) data onchain.

This strategic collaboration aims to leverage Chainlink’s decentralized oracle technology to enhance the transparency and efficiency of NAV reporting, thereby setting a new standard for real-time data accessibility. It underscores the potential of blockchain to transform traditional financial systems and highlights Chainlink’s growing influence in the industry.

Bringing NAV data onchain for real-time updates

NAV is a critical financial metric that calculates the value of a fund’s assets minus its liabilities, divided by the number of shares outstanding.

Traditionally, NAV data is updated at the end of each trading day, which can delay accurate investment reflections.

The collaboration between Fidelity, Sygnum, and Chainlink aims to bringing NAV data onchain thus allowing for accurate real-time updates, offering a significant improvement over conventional methods. This will enhance transparency and efficiency for institutional investors.

Fidelity’s $6.9 billion Institutional Liquidity Fund will be the first to benefit from this innovative approach.

Sygnum’s clients will have access to this onchain data, aligning with Matter Labs’ strategy to move treasury reserves onchain while continuing to invest in high-quality debt securities.

By adopting blockchain technology, Fidelity and Sygnum demonstrate their commitment to innovation and their belief in the transformative potential of decentralized finance (DeFi).

Chainlink is setting a new standard in asset management

Chainlink’s co-founder, Sergey Nazarov, emphasized that tokenized funds offer far greater efficiency benefits compared to traditional methods. He predicts that this approach will eventually become the norm in the asset management industry.

The Depository Trust and Clearing Corporation (DTCC) has also recognized the potential of onchain NAV data.

In a recent industry pilot using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), the DTCC explored extending its Mutual Fund Profile Service to include onchain NAV data. According to the pilot report, the pilot demonstrated that delivering structured data onchain could embed foundational data into numerous use cases, such as tokenized funds and smart contracts holding data for multiple funds.

The partnership between Chainlink, Fidelity, and Sygnum marks a significant advancement in the integration of blockchain technology with traditional financial systems.

By bringing NAV data onchain, this collaboration enhances transparency, efficiency, and data accuracy, potentially setting a new standard for the asset management industry and highlighting the transformative potential of decentralized finance.

The post Chainlink teams up with Fidelity and Sygnum to bring NAV data onchain appeared first on CoinJournal.

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JasmyCoin defies broader crypto market as price surges 12%

  • JasmyCoin surges 12% as price defies broader crypto market
  • JASMY could flip to $0.04 if bulls hold above key support level

JasmyCoin (JASMY), the native token of a Japan-based cryptocurrency project for decentralized data, has witnessed a significant price increase as most top altcoins mirror Bitcoin’s consolidation in the past month.

On June 23, JASMY price was up 12% – more than any other token in the top 100 by market cap.

As BTC and ETH hovered around the $64k and $3.5k price levels respectively, JasmyCoin was trading above $0.033, seeing a notable surge in daily volume and one of the top trending crypto tokens in the market.

JASMY price – what happened?

While JasmyCoin remains nearly 7% down in the past week, the past 24-hour gains have helped stem recent rot that saw JASMY fall to around $0.027.

The declines had accelerated once JASMY retreated from above $0.044 in early June, with a breakdown to $0.030 coinciding with Bitcoin’s sharp descent this month. As the crypto market struggled with sell-off pressure amid macroeconomic events and miner selling, JASMY broke below a technical support area to reach lows of $0.027 on June 21.

Today’s upside is a continuation of the bullish flip over the past two days.

According to CoinGecko data, this cryptocurrency has recorded a decent 24% uptick in 24-hour trading volume, currently at over $200 million. On the previous day, volume reached $176 million as price moved from near $0.029 to $0.032.

Read more: Jasmy unveils major partnership with Panasonic

JasmyCoin chart

The technical picture for JasmyCoin suggests a slightly upper hand for bulls.

As shown above, the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) on the 4-hour chart both offer this advantage. The chart also shows JASMY is nicely poised despite the retreat from the resistance line of the Bollinger Bands.

The daily chart however shows RSI and MACD slightly favouring bears.

In this case, buyers must hold price above the psychologically important $0.030 level to prevent a bearish flip. On the upside, JASMY coin’s major hurdle could be around $0.38-$0.040.

The post JasmyCoin defies broader crypto market as price surges 12% appeared first on CoinJournal.

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Morpho becomes first L2 protocol to launch on Base

  • Morpho is the first Layer 2 protocol to launch on Coinbase’s Base.
  • Morpho has introduced MetaMorpho Vaults and Morpho Markets on Base, boosting yield and borrowing options.
  • Morpho’s CEO, Paul Frambot, has shifted his stance on Base deployment seeing it as pivotal for Morpho’s growth in DeFi.

Morpho, a decentralized finance (DeFi) lending and borrowing protocol initially established on Ethereum, has achieved a significant milestone by becoming the first layer-2 (L2) protocol to launch on Base, a scaling network for Ethereum introduced by Coinbase in 2023.

This expansion marks a pivotal moment for Morpho as it seeks to capitalize on the growing DeFi ecosystem and enhance its service offerings. The move is set to transform Morpho’s trajectory and potentially position it as a leading protocol on Base.

Morpho to tap into Base’ DeFi ecosystem with this expansion

Morpho’s transition to Base is a strategic decision aimed at tapping into a burgeoning DeFi ecosystem.

Despite CEO Paul Frambot’s initial reluctance to expand onto a second chain, he has acknowledged that circumstances have evolved, necessitating this new deployment.

This shift underscores the dynamic nature of the DeFi landscape and Morpho’s adaptive strategy to stay ahead in a competitive market.

The introduction of Morpho on Base brings with it several innovative features designed to enhance user experience and optimize capital utilization.

One of the key features is MetaMorpho Vaults, which offers optimized yields through passive lending. Users can earn returns by depositing assets into these vaults, providing a robust mechanism for yield generation.

Additionally, Morpho Markets allows users to borrow against their deposits, with markets such as the cbETH/USDC enabling users to borrow the USDC stablecoin using cbETH as collateral. These features are poised to attract a new wave of users to the platform, further bolstering its growth.

Morpho’s platform on Base could outpace its Ethereum version

The potential for Morpho’s platform on Base to outpace its Ethereum version within the next year is significant.

The broader adoption of Base across the market is anticipated to drive user onboarding, which is crucial for Morpho’s expansion and success.

At the moment, DeFiLlama data shows that Morpho has a total value locked (TVL) of $1.833 billion. This is a substantial increase from approximately $597.76 million at the beginning of the year.

This impressive growth trajectory highlights Morpho’s robust performance and the increasing confidence of users in its protocol.

Morpho’s launch on Base not only signifies Morpho’s commitment to growth but also highlights the evolving nature of the DeFi space. As Base continues to see greater adoption, the synergy between these platforms could lead to unprecedented growth and innovation in the DeFi sector.

Morpho’s strategic expansion and the introduction of user-centric features position it well to harness the potential of the Base network, setting the stage for a new era in decentralized finance.

The post Morpho becomes first L2 protocol to launch on Base appeared first on CoinJournal.

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Release date confirmed for new augmented reality move-to-earn game, SpaceCatch

SpaceCatch, a brand new AR M2E (Move-to-Earn) game, has confirmed the release date for its public beta version. The game, which will come packed with impressive features and multiple benefits after an extensive development period, is scheduled for release on April 22 2024. 

Set in a futuristic world similar to our own, where Earth has been overtaken by AI-driven aliens, SpaceCatch challenges players, known as Catchers, to restore peace on Earth by defeating these aliens.

The game offers a captivating narrative that engages players, making it difficult to put their phones down. 

Scheduled for release on April 22, SpaceCatch is inviting players to reserve their spot early, with only 22,000 entries available.

Despite being pre-launch, SpaceCatch has already won over early adopters thanks to its rich feature set and engaging plot. The growing community and successful fundraising efforts are living proof of its appeal and potential.

And how does it work?

SpaceCatch leverages several cutting-edge technologies to deliver its exciting gameplay. The game operates on two models: M2E (Move to Earn) and P2E (Play to Earn). The P2E model is straightforward: players engage in combat with AI-driven aliens to restore peace on Earth.

The M2E model, on the other hand, is powered by Augmented Reality (AR). This integration allows players to interact with the SpaceCatch universe as it blends seamlessly with the real world. Imagine spotting an alien while in the park, relaxing in your living room, or getting in your car.

Furthermore, SpaceCatch employs artificial intelligence (AI) to develop a unique gaming experience for each player. Your game experience will differ from that of others, molded by your decisions, preferences, and behavior.

More than just a game

SpaceCatch has also developed a native token, CATCH, which is valuable both within and outside the game’s ecosystem. 

CATCH has been distributed to users during various fundraising events, CATCH can be earned through specific actions in the game and is available for purchase on multiple exchanges, including Gate.io, Bitget, MEXC, BitMart, XT.com, and Bingx.

And if you were not around when SpaceCatch organized the fundraising rounds, or you prefer not to perform certain actions in the game to earn CATCH, don’t worry; you can still get some tokens. CATCH can be bought, sold, or traded on various platforms, and this will help several new players get a better start in the SpaceCatch world.

CATCH helps SpaceCatch players improve their characters and tools, and this can highly contribute to their evolution in the game and how much they manage to help with their main common goal: restoring peace on Earth. 

Discover More

SpaceCatch is just getting started in the industry, and has big plans up its sleeve. But with just 22,000 beta entries up for grabs, gamers should check out its official website asap and follow its activity on Telegram, Discord, X (Twitter), YouTube, Instagram, Medium, and CoinMarketCap.

The post Release date confirmed for new augmented reality move-to-earn game, SpaceCatch appeared first on CoinJournal.

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SAGA token price prediction; Bitbot follows in its footsteps

  • Saga Protocol sees surge post-mainnet launch with SAGA token trading volumes surpassing $1 billion.
  • Binance expands support for the SAGA token across multiple products, boosting accessibility and liquidity.
  • Bitbot’s $BITBOT presale raises over $2 million, with tokens currently priced at $0.0148.

In recent months, the cryptocurrency market has witnessed significant developments with the emergence of groundbreaking projects like Saga Protocol and Bitbot.

These initiatives are reshaping the landscape of blockchain technology and trading, offering innovative solutions to users worldwide.

350+ projects already integrated on Saga

Since the launch of its mainnet on April 9, Saga Protocol has demonstrated remarkable performance within the blockchain ecosystem.

With its focus on supporting various applications, especially in gaming, Saga has attracted widespread attention from both developers and investors.

The protocol’s mainnet debut saw the integration of over 350 projects, highlighting its potential to revolutionize decentralized applications.

Moreover, Saga’s strategic partnerships with industry leaders such as Polygon and Avalanche further solidify its position as a frontrunner in the blockchain space.

Binance lists SAGA token on multiple products

Binance, the world’s largest cryptocurrency exchange, has recently expanded its support for Saga across multiple products.

By listing Saga on various platforms including Binance Earn, Convert, Margin, and Futures, Binance aims to provide its vast user base with seamless access to Saga’s ecosystem and trading functionalities.

This move underscores Binance’s recognition of Saga’s potential and its commitment to offering innovative opportunities to users.

SAGA token price prediction

The SAGA token has witnessed an impressive 30% surge in price backed by over $1 billion in trading volume since its debut.

The token debuted at $5.71 and has hit an all-time high (ATH) of $7.89. The token has seen extraordinary trading volumes and a surge in Futures Open Interest (OI), indicating robust market demand and investor confidence.

Analysts project continued price appreciation, with targets set at $8.00 and $10.00.

As investors eye potential gains, the SAGA token remains poised for further upside, supported by strong market fundamentals and increasing demand.

Bitbot: revolutionizing trading:

As Saga Protocol and its native token SAGA make waves within the crypto space, Bitbot, a non-custodial Telegram trading bot, is also attracting investors’ attention as it revolutionizes the trading landscape with its institutional-grade tools and secure platform.

By integrating with self-custodial wallets and employing advanced security measures like KnightSafe, Bitbot ensures the safety of users’ assets while providing access to sophisticated trading functionalities.

At the heart of the Bitbot project lies its native token $BITBOT, which is an integral part of Bitbot’s platform. It offers holders exclusive benefits such as revenue sharing and governance participation.

The $BITBOT token is currently in the presale stage and it has garnered significant traction, raising over $2.1 million to date.

With the current price of $0.0148 per $BITBOT token, investors have the opportunity to participate in Bitbot’s growth journey at a favourable entry point. As Bitbot progresses through its presale stages, investors can expect incremental price increases, reflecting the project’s expanding reach and market potential. For instance, in the next presale stage, the price is expected to rise to $0.0155.

To participate in the $BITBOT presale, visit the official Bitbot presale website.

Conclusion

Saga Protocol and Bitbot represent two innovative ventures driving forward the evolution of blockchain technology and trading.

With their disruptive capabilities and commitment to delivering value to users, these projects are poised to shape the future of decentralized finance and trading ecosystems and are potential opportunities for crypto investors.

The post SAGA token price prediction; Bitbot follows in its footsteps appeared first on CoinJournal.