Kategorie: Crypto Markets

As Ethereum continues to dominate the cryptocurrency market as the second-largest digital asset by market capitalization, new contenders like Solana, Cardano, and Rexus Finance are gaining traction with investors and developers. These projects are innovating in ways that could eventually challenge Ethereum’s position, each bringing unique benefits and developments to the table. Rexus Finance is focused on tokenizing real-world assets (RWA), fueling a revolution in ownership and liquidity in decentralized finance (DeFi). Meanwhile, Solana’s high-speed, low-cost blockchain and Cardano’s focus on scalability, sustainability, and smart contract integration position them as serious competitors in the evolving crypto space.

Rexus Finance (RXS): Rising Beyond RWA Tokenization

While Ethereum faces market fluctuations and short-term uncertainty, the real-world asset (RWA) sector is experiencing significant growth, and Rexus Finance (RXS) is at the forefront of this transformation. By integrating physical assets like real estate, commodities, and art into blockchain technology, Rexus Finance offers a compelling solution for investors seeking stability and diversification.

RWA tokenization makes traditionally illiquid assets more accessible by allowing fractional ownership, enabling investors to contribute as little as $100 or as much as $1 million. Rexus Finance’s model opens up opportunities that were previously out of reach for many, democratizing asset ownership and providing access to a global marketplace of valuable assets. This innovative approach gives Rexus Finance a solid foundation to potentially rival Ethereum in terms of market influence.

Solana (SOL): Attracting Investor Interest

Solana has been gaining attention from investors thanks to its recent price movements, which have sparked optimism in the crypto community. According to several analysts, Solana’s relatively low open interest of $1.76 billion is a positive sign, suggesting that the risk of steep downward price movements is limited. Currently trading around $137, Solana has shown strength in its price recovery and is expected to continue its upward trend.

Despite minor bearish sentiments among short-term traders, Solana’s long-term potential remains strong due to its rapid transaction speeds, low costs, and strategic partnerships. The broader market’s bullish momentum, fueled by Bitcoin’s recent gains, is expected to support further price increases for SOL. With its cutting-edge technology and scalability, Solana is well-positioned to secure a top spot among the largest cryptocurrencies.

Cardano (ADA): A Leading Competitor

Cardano (ADA) has also been generating excitement, with bullish technical signals suggesting its potential to challenge Ethereum’s position. One key development is Cardano’s recognition of the $0.32 horizontal support level, which has held for nearly two years. This stability reinforces investor confidence in ADA, and recent indicators, such as a positive divergence in the Relative Strength Index (RSI), point to an impending trend reversal that could see Cardano’s price rise significantly.

Cardano’s transaction volume recently peaked at $6 billion within a week in September, further highlighting the growing interest in the platform. Analysts have noted a bullish pattern in Cardano’s price action, with some predicting that ADA could reach a minimum of $0.61. In addition to price trends, the expansion of smart contracts on Cardano’s framework and the continued growth of its ecosystem position it as a strong candidate for growth during the current bull market.

Conclusion

Rexus Finance is rapidly emerging as a strong contender for the second-largest cryptocurrency position, thanks to its innovative approach to real-world asset tokenization. By bridging physical assets with blockchain technology, Rexus Finance offers stability, diversification, and liquidity, setting it apart from competitors like Solana and Cardano.

With the potential to revolutionize asset ownership, Rexus Finance has a solid chance of gaining significant market influence and potentially overtaking Ethereum in the race for dominance. However, both Solana and Cardano are also making strides with their technological advancements and market performance, making this competition one to watch closely.

The post Top 3 Ethereum rivals gunning for the second-largest crypto spot appeared first on CoinJournal.

• The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks.
• On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.

According to on-chain data, the foundation sold the 300 ETH on Friday for an average of $2,543 – which is a level that is 5% up on intraday lows of $2,440.

In recent days, the organization had put some breaks to its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on Sept. 20, the dump resumed.

EF has sold Ether every 4-7 days

On Sept. 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.

According to on-chain insights platform Spot On Chain, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.

The Ethereum Foundation has sold the native Ethereum token every 4-7 days, on-chain data shows.

The Ethereum Foundation has sold $ETH… again!

In the past 20 minutes, they sold another 300 $ETH for 763,092 $DAI.

Overall, since the beginning of September, the Ethereum Foundation has sold 950 $ETH ($2.27M) at an average price of $2,392, with sales occurring every 4-7 days.… https://t.co/tnF0vK1zgs pic.twitter.com/jloNPcoHqZ

— Spot On Chain (@spotonchain) September 20, 2024

In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.

The latest dump, another big one, comes after Ethereum price surged from under $2,200 levels reached earlier this month.

At the time of writing, ETH traded around $2,552, roughly 5% up in the past 24 hours and +8.5% in the past week.

These gains have come as Bitcoin price surged to above $63,000 after this week’s Fed moved to cut interest rate by 0.5%.

Earlier, CoinJournal highlighted that five Satoshi era Bitcoin wallets that had been dormant for 15 years, woke up and transfered 250 BTC.

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• BingX was hacked early Friday, Sept. 20, with $43 million in cryptocurrencies stolen from the exchange’s hot wallet.
• Hacker stole ETH, BNB, USDT and over 300 other coins and tokens.
• On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB.

BingX has been hacked, with the security breach resulting in the draining $43 million from the Singapore-based cryptocurrency exchange’s hot wallet.

Blockchain security firm PeckShield reported on the exploit early Friday.

Etherscan data indicates that of the $43 million stolen, over $13.2 million ETH, more than $2.3 million BNB, and more than $4.4 million USDT. The hacker also drained BingX’s hot wallet of 360 other coins – with these swapped into ETH and BNB at decentralized exchanges including Uniswap and KyberSwap.

BingX suspends withdrawals

Vivien Lin, the chief executive officer of BingX, confirmed the incident via an update posted on X.

Lin noted that the exchange’s technical team detected the breach around 4:00 am on Sept. 20, identifying an “abnormal network access.” The BingX security team immediately initiated the platform’s emergency plans, including urgently transferring assets from the hot wallet and halting withdrawals.

“To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored within 24 hours at the latest,” Lin added.

The BingX CEO also assured users that the exchange is safe.

Q3: Is the platform still safe?
Answer: The platform is operating normally, and you can continue trading, using grid strategies, and financial services as usual. Only the wallet is currently under maintenance. Your funds are safe, so please be patient while the wallet…

— Vivien Lin @ BingX (@Vivien_BingX) September 20, 2024

According to BingX, the losses are “only minor” and that most of the users’ funds are in cold storage.

One of the biggest exploits on a crypto exchange in 2024 happened in July when hackers stole over $230 million from India-based cryptocurrency exchange WazirX. The attacker has managed to launder most of the funds, the latest being $6.5 million sent to Tornado Cash.

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• Tether announced its $1.5 million strategic investment in Sorted Wallet on Sept. 19.
• Sorted Wallet will tap into this investment to expand its services across Africa and Southeast Asia.
• Tether is the company behind leading stablecoin USDT.

Tether has invested $1.5 million in Sorted Wallet, a crypto wallet platform targeted for crypto adoption across the emerging markets.

In an announcement on Thursday, Sept. 19, Tether said the strategic investment in Sorted Wallet aims at enhancing financial inclusion in Africa and the Southern Asia region.

“This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved regions,” Paolo Ardoino, chief executive officer of Tether, said.

Financial inclusion

According to the Tether CEO, investing in Sorted Wallet will help bring more people with basic mobile phones into the crypto space.

Such support unlocks new opportunities that allow more users to integrate the digital assets ecosystem across the financial space. Most of these are the unbanked in emerging markets – whose stand to benefit from financial inclusion.

“Our goal is to ensure that everyone, regardless of location or phone type, can securely manage and utilize cryptocurrency, empowering them to build a more secure financial future and actively engage in the evolving digital economy,” the Tether exec added.

Sorted Wallet eyeing expansion

Sorted Wallet is a non-custodial wallet that allows users to engage in the digital asset finance market using their feature phones or low-powered smartphones.

The $1.5 million investment from Tether will bolster Sorted Wallet’s expansion efforts both in Africa and Southeast Asia.

As the issuer of the world’s largest stablecoin USDT, Tether plays a key role in the crypto space. The company has expanded its stablecoin usage across the globe with initiatives.

In recent months, Tether has partnered several platforms and institutions to support blockchain and crypto through educational programs.

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• Pixelverse launches a closed beta MMORPG browser game with TON microtransactions.
• The game marks the first TON integration outside Telegram, expanding web3 gaming.
• Pixelverse aims to grow its user base and enhance gaming with immersive web3 elements.

Pixelverse, the innovative gaming ecosystem known for its cyberpunk theme and blockchain integration, has achieved a major milestone by launching the closed beta of its highly anticipated MMORPG web browser game.

The launch of the beta browser game makes Pixelverse the first platform to implement TON (The Open Network) microtransactions outside of Telegram.

Pixelverse building on PixelTap’s success

Originally built on Telegram with its flagship mini-game PixelTap, Pixelverse quickly attracted a large following due to its seamless integration with the TON blockchain.

With over 10 million monthly active users, PixelTap became one of the most popular mini-games on Telegram.

In August 2024, Pixelverse launched its largest profile picture (PFP) NFT collection on TON, attracting 234,000 investors, followed by the successful release of its Bots NFT collection, which saw over 40,000 investors participate.

Pixelverse NFTs offer unique benefits across its gaming ecosystem, providing access to exclusive content, character customization, and profit-sharing opportunities. These digital assets are more than just collectibles; they provide players with real-world value, enhancing the overall gaming experience.

MMORPG web browser game launch scheduled for Q4, 2024

The closed beta release of Pixelverse’s web browser game represents a pivotal moment for both the game and the TON ecosystem.

Set 800 years in the future, players awaken in a dystopian city called Neopolis, where they embark on quests, collect rare items, and gain influence in the city’s dynamic economy.

The game’s open-world format allows players to shape the environment and economy, embodying the true spirit of web3.

Pixelverse CEO Kirill highlighted the company’s ambitions to move beyond mobile ecosystems and deliver a richer, more immersive web3 gaming experience. By leveraging its massive Telegram user base amid the growing Telegram gaming landscape, Pixelverse aims to organically grow its presence in the broader web3 space.

With its public release scheduled for Q4 2024, Pixelverse is poised to push the boundaries of web3 gaming, setting a new standard for blockchain integration and player engagement.

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