Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Closed beta version of Neon EVM launches on Solana’s Mainnet

  • Neon EVM is a low-friction solution that enables Ethereum dApps to settle transactions on Solana.
  • The EVM helps breach the gap between Ethereum and Solana.
  • Since the Neon EVM beta is closed it will only accept transactions for those on the guest list.

Neon Labs, an Ethereum virtual machine on Solana that enables dApp developers to use Ethereum tooling to scale and get access to liquidity, has announced that it has launched a closed Neon EVM beta version, Neon EVMβ, on Solana’s mainnet. The launch is a significant milestone for the Neon EVM roadmap.

The Neon EVMβ is a fully-functioning Neon EVM that supports fee-free transactions. 

All Neon EVM transactions are settled to Solana’s L1 and require payment in SOL, the native token of Solana, just like any other Solana transaction. However, in the just-launched beta version, the NEON token is not requested by the Proxy Operator responsible for accepting the transaction request and ensuring that it is finalized.

What is Neon EVM?

Neon EVM is a low-friction solution that enables Ethereum dApps to settle transactions on Solana, eliminating the gap between these two leading blockchains. It allows Ethereum developers to enjoy the best of Solana’s network, from low fees to high transaction speeds, and parallel transaction execution capabilities. 

The Neon EVM solves Solana’s incompatibility with EVM which made EVM multichain dApp developers avoid the chain, which is otherwise known for being one of the fastest and organically-growing chains. It aims at making Solana a viable option for multichain builders.

Why a closed beta Neon EVM?

The Neon EVM ecosystem includes many more players than just the Neon EVM and the Proxy Operators that accept and settle transaction requests. It includes DAO, oracles, indexers, wallets, multisigs, bridges, explorers, and more. 

Neon EVMβ provides an opportunity for all parties to deploy and test to ensure the seamless integration of their services before the official Solana Mainnet launch.

Launching in closed beta allows the Neon EVM team to onboard and test the services of ecosystem players in controlled phases. It will only allow those who are on the guest list to test transactions.

The first phase onboards the infrastructure components, and the second phase accepts dApps and will test the connection of wallets.

Operating in closed beta also controls the budget by keeping the activity limited to an invite-only list. Remember, while the Proxy Operator is not charging a fee, the Solana network still does. It simply is not possible to provide an open beta and predict the cost in SOL for such an initiative.

The post Closed beta version of Neon EVM launches on Solana’s Mainnet appeared first on CoinJournal.

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DWF Labs vote of confidence to the WavesDAO project sends WAVES price up 91%

  • WavesDAO is a For-Profit DAO on the Power Protocol platform aimed to support the development of Waves Blockchain-based projects.
  • Market maker DWF Labs has committed 500K WAVES to the WavesDAO project.
  • The WavesDAO is seeking to channel a third of Waves miners’ rewards into the Waves DAO during the initiation period.

WAVES price has hit a daily high of $2.82 today after a 91.23% price surge in 24 hours. While the surge caught most crypto traders by surprise, the price movement was coming seeing that global digital asset market maker and web3 investment firm DWF labs had shown commitment to the WavesDAO project.

DWF Labs, on June 22, announced its support for the launch of WavesDAO by committing 500K WAVES to Waves staking and voting to support the WavesDAO project. DWF Labs’ participation in the DAO initiative will go a long way in empowering developers to build on the Waves Blockchain.

What is WavesDAO?

WavesDAO is a For-Profit decentralized organization (DAO) on the Power Protocol platform aimed to support the development of Waves Blockchain-based projects and other initiatives.

Essentially, a governor is expected to have a minimum of 1 PWR to participate in the DAO and 100 PWR staked for the initiation of a proposal to succeed.

At the moment, WavesDAO is seeking to channel a third of Waves miners’ rewards into the Waves DAO. However, this proposal needs to be approved by Waves miners and stakers through on-chain voting.

WavesDAO stands as a pioneering decentralized autonomous organization on the Power Protocol platform. It will be managed by PWR token stakers, which makes it an investment vehicle for the community.

The post DWF Labs vote of confidence to the WavesDAO project sends WAVES price up 91% appeared first on CoinJournal.

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Bitcoin Cash price touches 1-year high after BCH soars 72%

  • Bitcoin Cash price jumped to a 1-year high today when BCH hit $194, up 72% over the week.
  • BCH price broke higher as institutional-driven crypto sentiment pushed Bitcoin (BTC) above $31,000.
  • Bullish sentiment for Bitcoin Cash also followed the listing on BCH on the Citadel-backed crypto exchange EDX Markets.

Bitcoin Cash price has soared to its highest level in twelve months after spiking more than 40% in 24 hours to hit $194 on Coinbase. 

As CoinJournal highligted here, Bitcoin Cash price had jumped to a 3-month high on Wednesday.

Why is Bitcoin Cash price up?

BCH was up by 72% in the past seven days and traded at prices last seen in early June last year. This is when the crypto winter and market contagion pushed it from highs of $210 on June 1 to lows of $103 by the end of the month.

The Bitcoin fork cryptocurrency then slumped to lows of $89 in November as the FTX implosion catalysed massive crypto losses.

A bullish start to 2023 however faded with BCH/USD trading around $154 in February. This week’s breakout above a technical downtrend line coincided with the broader crypto market rally, buoyed by the news of BlackRock’s application for a spot Bitcoin ETF. Today’s gains came as Bitcoin reached $31,450, its highest price since June 2022.

While BTC is up 85% year-to-date, Bitcoin Cash price is slightly higher at 90% YTD.

Bitcoin Cash performance on the daily chart. Source: TradingView

BCH open interest up 79%

BCH Futures open interest has since jumped, up 79% in the past 24 hours. It follows the bullish breakout above $135 after newly-launched EDX Marketslisted Bitcoin Cash as one of four coins on the exchange alongside Bitcoin, Ethereum and Litecoin. 

EDX Markets, which went live this week, is backed by some of Wall Street’s largest financial investment firms – Charles Schwab, Fidelity Investments and Citadel.

According to data from Coinglass, open interest in BCH was over $200 million as of 3pm ET on Friday, June 23. It’s the highest the metric has risen to since March 2022.

The post Bitcoin Cash price touches 1-year high after BCH soars 72% appeared first on CoinJournal.

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BTC hits $31k as SEC approves first leveraged Futures Bitcoin ETF

  • Bitcoin rose to above $31,450 on Friday, its highest level since June 2022.
  • BTC price spiked to the year-high level after the SEC allowed the Volatility Shares 2x Bitcoin Strategy ETF, or BITX.
  • This is the first leveraged Bitcoin Futures ETF in the US and comes after this week’s BlackRock-fueled bullish sentiment for the crypto market.

Bitcoin smashed past the $31,000 level on Friday afternoon as the market reacted to the latest news about the US market’s first leveraged Futures Bitcoin exchange traded fund (ETF).

The upside pushed BTC price to highs of $31,458 on crypto exchange Bitstamp, with the flagship cryptocurrency’s price setting a new year-to-date high and its highest level since June 2022. BTC traded at $31,170 at the time of writing, about 4% higher in the past 24 hours but an impressive 87% up YTD.

SEC approves first leveraged Futures Bitcoin ETF

On Friday, June 23, the US market entered a new chapter in crypto investing when the first leveraged Bitcoin Futures ETF became effective. The Volatility Shares 2x Bitcoin Strategy ETF, or BITX, will begin trading on Tuesday 27 June and will allow its investors an exposure to Bitcoin with daily returns.

Instead of investing directly in Bitcoin, BITX will “seek to benefit from increases in the price of Bitcoin Futures Contracts,” per details of the Fund in the prospectus filed with the SEC. The 2x Bitcoin Strategy ETF will align with the CME Bitcoin Futures Daily Roll Index.

Bitcoin has led the market higher over the past week or so, riding on the bullish sentiment triggered by $9 trillion asset manager BlackRock’s filing for a spot Bitcoin ETF. BlackRock has a very high rate of success with ETF applications, the reason for the market’s optimism. 

Analytics platform IntoTheBlock pointed out what a spot ETF would mean for Bitcoin adoption and price.

Indeed, the asset manager’s filing paved way for a frenzy of spot ETF applications from several other Wall Street giants and global financial institutions. With BTC price in bullish momentum, its likely the market could see many more mega moves by smart money.

The post BTC hits $31k as SEC approves first leveraged Futures Bitcoin ETF appeared first on CoinJournal.

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Dash (DASH) completes its block reward “Halving”

  • Dash block reduction occurred at block height 1,892,161.
  • Unlike Bitcoin halving that cuts block rewards in half, Dash reduces its reward by 7.14% after every 210,240 blocks.
  • Currently, the reward is 2.3097 DASH and will reduce again in July 2024.

The block reward on the Dash (DASH) blockchain network has reduced after its halving that took effect at block height 1,892,161.

Like Bitcoin, Dash cuts its block reward. However, instead of the halving that for instance sees Bitcoin’s block reward cut in half every four years, Dash reduces the reward by 7.14% every 210,240 blocks.

With the network’s block time of 2.5 minutes, DASH block reward reduction happens approximately every 365 days. The countdown to the next halving is estimated to occur in the first week of July 2024, with the block reward set to reduce from 2.3097 DASH to 2.1448 DASH.

Dash block reward distribution

Like in other mining coins, block reward reduction affects what miners earn for deploying their computational power to process transactions and secure the network. Reducing the reward therefore impacts their overall profitability.

For instance, Dash’s latest halving saw mining pool ViaBTC inform miners that the reward will reduce from 1.05 to 0.98 DASH.

Block rewards are split three-way: Miners and masternodes, which are key to the network’s privacy feature (CoinJoin) and instant transactions (InstantSend), share 90% of the block reward, while 10% goes to the DASH Treasury DAO.

Currently, the distribution between miners and masternodes is 42.3% and 57.7% respectively. The ratio is set to change in favour of the masternodes over time, with this reaching the 40:60 ratio by May 2025.

DASH “halving” happens approximately 40 days to Litecoin’s halving expected in August this year. After that, the most anticipated block halving event will be Bitcoin’s, which is scheduled to happen in April 2024 (the countdown is down to about 308 days).

The post Dash (DASH) completes its block reward “Halving” appeared first on CoinJournal.