Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Renzo teams up with Jito to launch LRT token ezSOL

  • Renzo Protocol revealed its ezSOL liquid restaking token will soon launch on Jito as Solana’s first LRT.
  • The Renzo team is eyeing growth for the DeFi ecosystem on Solana.

Renzo Protocol has announced the launch of ezSOL, the first liquid restaking token (LRT) on Solana.

The collaboration between Renzo and Jito Network will allow JitoSOL holders to mint ezSOL and use the LRT to tap into more decentralised finance (DeFi) opportunities on Solana.

ezSOL will combine Renzo’s liquid restaking expertise with Jito’s MEV-enhanced features to bring the best of decentralised finance and other earning mechanisms to users.

 “The launch of $ezSOL marks a pivotal moment for Solana’s DeFi ecosystem. $ezSOL not only bolsters liquidity but also unlocks new strategies for capital efficiency,” Renzo posted on X.

With ezSOL, users can access DeFi protocols such as lending platforms, automated market makers and aggregators. This means one can tap into new opportunities while retaining the benefits available with restaking. 

ezETH proposal

Meanwhile, Renzo’s vote on the proposal to list ezETH on Aave V3 Lido Finance Instance. The proposal seeks to add support for borrow/lend for Renzo and its ezETH as collateral on Aave V3.

If the community adopts the proposal, ezETH will go live on the blockchain platform and likely boost the overall revenue across Aave and Renzo. The development also means that wstETH borrowing is now very attractive.

The post Renzo teams up with Jito to launch LRT token ezSOL appeared first on CoinJournal.

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US government transfers $590M worth of Silk Road seized Bitcoin to Coinbase

  • The US has reportedly moved 10,000 BTC seized from Silk Road to Coinbase.
  • The government still holds 203,200 BTC, valued at around $12B.
  • Future sales by the US could impact the cryptocurrency market.

The United States government has transferred 10,000 Bitcoin (BTC) worth approximately $590 million to Coinbase wallet, according to data from Arkham Intelligence.

The transferred BTC is linked to assets seized from the infamous Silk Road dark web marketplace.

US government Bitcoin transfers

The transferred Bitcoin originated from a wallet associated with the US government, which currently holds a significant amount of the cryptocurrency.

According to Arkham’s data, the US government still controls over 203,200 BTC, making it the largest national holder of Bitcoin globally. These holdings are valued at approximately $12 billion based on current market prices.

The majority of the government’s Bitcoin reserves have been accumulated through law enforcement actions, particularly the seizure of approximately 174,000 BTC from the Silk Road marketplace.

The Silk Road was a notorious online black market that facilitated the sale of illegal goods and services before being shut down by authorities in 2013. Since then, the US government has periodically sold off portions of the seized Bitcoin in auctions, but large transfers like the recent one to Coinbase have sparked speculation about potential future sales.

The recent move follows a previous transfer of around $241M Bitcoin in late June followed by another $2B Bitcoin in late July, raising questions about the government’s intentions with these digital assets. Whether the government plans to sell or continue to hold the Bitcoin remains unclear.

The decision to move such a large amount of Bitcoin into a Coinbase wallet has attracted significant attention, as it could signal upcoming market activity.

Investors and analysts are closely watching the situation, as any major sale by the government could impact the cryptocurrency market.

The post US government transfers $590M worth of Silk Road seized Bitcoin to Coinbase appeared first on CoinJournal.

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Crypto.com secures groundbreaking partnership with UEFA Champions League

  • com partners with UEFA, becoming the first crypto platform sponsor.
  • The partnership aims at boosting mainstream crypto adoption, especially in Europe.
  • com’s user base has surpassed 100M, driven by its sports engagement strategy.

In a landmark move for the cryptocurrency industry, Crypto.com has become the first digital asset platform to secure an exclusive multi-year partnership with the UEFA Champions League.

Announced on August 14, this partnership marks a significant milestone for the exchange, positioning it as an official global sponsor of one of the most prestigious sports leagues in the world.

Steven Kalifowitz, Chief Marketing Officer of Crypto.com, emphasized the transformative potential of this collaboration. “We have successfully built the Crypto.com brand and community by producing innovative and groundbreaking moments and events in a way that others have not been able to replicate,” Kalifowitz stated.

He highlighted that connecting with engaged sports fans worldwide has been instrumental in expanding the platform’s user base to over 100 million, underscoring the symbiotic relationship between sports and crypto adoption.

Accelerating crypto adoption in Europe

The partnership is poised to accelerate the mainstream adoption of cryptocurrencies, particularly in Europe, where Crypto.com has already established itself as a key player.

Europe is the platform’s second-largest market, and the alliance with UEFA is expected to further bolster its growth in the region.

Kalifowitz has expressed confidence that the vast reach of UEFA, which engages over 3 billion fans globally, would significantly contribute to the broader adoption of digital currencies.

As Crypto.com continues to push the boundaries of crypto integration into mainstream culture, this partnership with UEFA represents a strategic effort to bring cryptocurrencies to the forefront of global awareness.

The post Crypto.com secures groundbreaking partnership with UEFA Champions League appeared first on CoinJournal.

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Poodlana presale ends in under 72 hours: Should you buy?

  • Poodlana will end its presale on August 16, with token listing on DEX within an hour.
  • Sentiment is rising again as investors target a potential investment opportunity.

Poodlana is one of the new dog-themed tokens to surge ahead of a crucial inflation report on Wednesday. 

The potential for the CPI data to swing the U.S Federal Reserve into action for a rate cut in coming months has the markets in a positive mood. Bitcoin’s surge to above $61,000 has buoyed the broader market, while traders eyeing the bull market are flocking to potentially biggest presale gem of the year – Poodlana (POODL).

Investors eye CPI release

Despite the news that BitGo moved $2 billion worth BTC from Mt. Gox on Tuesday, the benchmark cryptocurrency has remained near the psychologically important price level of $60k. The surge to $61k comes as investors target further indications that the Fed will cut rates.

Experts have largely shared this view, which has traders in position for a potential rally.

According to QCP Capital, investors are likely to pay closer attention to inflation numbers, with this adding to the overall Fed sentiment.

“This week’s inflation data will be key for the markets,” Sylvia Jablonski, chief executive officer of Defiance ETFs told CNBC’s Squawk Box. “If the market gets the sense that rates are going to be cut, we can end up with a positive year, but probably some volatility for the next month or two.”

As noted, cryptocurrencies have climbed in the past 24 hours as Bitcoin edged above $61k and Ethereum broke above $2.6k. Crypto analysts suggest the top cryptocurrencies could be on the path to greater gains, and the recent dip might have provided a crucial buying opportunity.

Poodlana: Buy ahead of presale closing?

Solana meme coin’s market has increased 5.4% to over $6.62 billion. While a fraction of the $2.2 trillion global market cap, these assets have the potential to explode.

Poodlana, which launched its 30-day presale in July, is less than three days away from listing on DEX and potentially one of the top tier crypto exchanges.

The project that combines meme traction in Asia and fashion debuted in presale at the price of $0.02. In just over 27 days, POODL has gone viral with price now at $0.0539 and total amount raised in presale surpassing $7 million.

At the end of stage 10, Poodlana will list on Raydium and possibly one of the major exchanges with the listing price at $0.06.

If cryptocurrencies rally further, Poodlana could mirror top Solana meme coins Bonk, dogwifhat and Popcat that went parabolic after launch. POODL will go live on DEX on Aug. 16 and the next two days or so may be the best time to buy Poodlana.

To find out what sets Poodlana apart, visit the official website.

The post Poodlana presale ends in under 72 hours: Should you buy? appeared first on CoinJournal.

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Tether invests $3 million in Kem to bolster USDT adoption

  • Tether announces $3 million strategic investment in Kem app to boost adoption of its stablecoin USDT.
  • Kem’s partnership helps Tether’s commitment to financial inclusion across the globe, Tether CEO Paolo Ardoino said.

Tether, the leading stablecoin issuer, is eyeing fresh market penetration with a strategic investment in money transfer and financial management platform Kem.

According to an Aug. 13 announcement, the $3 million investment in Kem app will see the platform add USDT for its users, prompting the stablecoin’s adoption in the Middle East.

“This investment reinforces Tether’s commitment to promoting financial inclusion and stability. We believe that everyone should have the means to protect their families and businesses against inflation while enjoying unrestricted access to financial services,” Tether CEO Paolo Ardoino, said. “Our investment in Kem App is a testament to this belief, as the platform provides tools that simplify access to the financial system, perfectly aligning with our mission to advance financial freedom for all.”

Crypto adoption growing in MENA region

Kem and Tether’s collaboration comes amid growing crypto adoption in the Middle East and North Africa (MENA) region, with this being the sixth largest crypto economy in the world. Combined, the region accounts for an approximately $389.8 billion in on-chain value – a 7.2% total of global volume from July 2022 to June 2023.

Dubai and Abu Dhabi are some of the top destinations for crypto in the region.

Tether recently announced it hit a record $5.2 billion in profit from the first half of 2024, and has vowed to fight a ‘shake down” litigation from Celsius. Ardoino said in a statement that the legal battle is about setting an “example for bad actors.”

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