Kategorie: Crypto Markets

• Helium successfully migrated to Solana Network last week.
• More than six billion IOT tokens have been minted since Helium migrated to Solana.
• IOT Token surged by 370 earlier today to hit a daily high of $0.003927.

Helium IOT (IOT) token surprised a majority of crypto investors today after surging by more than 370%. Despite a slight retracement, the token was still green trading at $0.00206, up 33.59% at press time.

Today’s IOT token price surge is attributed to last week’s successful Helium migration to Solana Network which has resulted in more than six billion IOT to be minted.

Protocol token of Helium’s internet-of-things network

Most are conversant with Helium’s native token, HNT, which has also been performing quite well over the past few days after the migration.

Helium has another token, the Helium IOT, which is the protocol token of Helium’s internet-of-things network. The Helium IOT is mined from Helium’s hotspots, which is the hardware infrastructure behind the IOT network.

Helium IOT is backed by the HNT token and can always be converted to HNT, with the redemption rate being algorithmically set by its treasury swap smart contract.

According to data from Solana’s block explorer, there are about six billion IOT tokens in circulation supply out of the maximum supply of 200 billion tokens.

The IOT token also received another boost after Solana-based decentralized-finance (DeFi) protocol Kamino Finance said it had opened two Helium vaults to allow investors to stake their IOT and HNT tokens for a yield.

The post Helium’s migration to Solana sends IOT token price through the roof appeared first on CoinJournal.

• Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).
• The DEX has lost more than $1.8 million in a liquidity pool hack.
• The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.

Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.

The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.

CertiK had audited Merlin’s code

A few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.

CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.

CertiK also promised to collaborate with appropriate authorities in case anything came up.

CertiK and zkSync Era to compensate lost assets

While urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.

In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:

“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”

CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.

The post CertiK and zkSync Era plan to compensate Merlin hack victims appeared first on CoinJournal.

• Solana users will soon be able to interact with the network through a ChatGPT plugin.
• Users can use the plugin to check wallet balances, transfer Solana-native tokens, and buy NFTs.
• Developers are also encouraged to test using the plugin to retrieve on-chain data.

At press time, SOL price was up 7.33% 34 hours after Solana announced through a tweet that “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.”

(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.

Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. pic.twitter.com/08z1IX76zJ

— Solana Labs (@solanalabs) April 25, 2023

The news comes two weeks after Solana unveiled yet another achievement, the crypto-first ‘Saga’ android phone, which will be available for customers to purchase from May 8. Solana Network has seen increased activity over the recent past causing the price of its native token SOL to rise by more than 11% in the last 30 days.

Solana ChatGPT plugin use

The open-source reference implementation for a ChatGPT plugin marks Solana’s entry into the world of artificial intelligence (AI). Announcing the plugin, Solana Labs noted that it would allow users to interact with the Solana network directly from OpenAI’s ChatGPT.

Since its launch in November 2022, ChatGPT has quickly attracted global popularity mainly because of its AI-powered chatbot, which generates sophisticated responses to any request. In the wake of the ChatGPT, several other companies have started leveraging AI technology including players in the crypto sector as they seek to enhance user experience.

Besides allowing users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), the ChatGPT plugin will also allow developers to build AI-powered applications on the Solana network.

Grants to AI developers

Solana Foundation also announced that it will be allocating grants to its ecosystem teams building AI tools on the Solana blockchain.

According to the foundation, the teams or individuals will be able to seek from $5, 000 to $25,000 grants from a $1 million fund.

The post SOL price surging after Solana ChatGPT plugin unveiled appeared first on CoinJournal.

• iZUMi Finance (IZI) price dropped over 15% amid massive profit taking.
• The dump followed the token’s listing on major crypto exchange KuCoin.
• But while price could fall below $0.030, the cryptocurrency’s strong ecosystem growth could see increased IZI demand and aid price uptick down the road.

iZUMi Finance (IZI) price fell more than 15% early Wednesday as the cryptocurrency’s market defied broader crypto prices outlook. IZI traded to lows of $0.032 as sell pressure mounted following the coin’s listing on major crypto currency exchange KuCoin.

The dump is likely a “sell the news” scenario as the price of iZUMi Finance rose exponentially over the past few days. This after KuCoin announced it would list the native token of the multi-chain decentralised finance (DeFi) protocol.

Even with today’s dip, IZI/USD was still trading more than 26% up in the past seven days and over 280% up in the past two weeks.

iZUMi Finance price: sellers in control for IZI/USD

While current price outlook suggests sellers might push IZI lower, the cryptocurrency is poised at a horizontal demand zone that has helped bulls for much of April. That suggests the profit taking could give way to new upside momentum.

As for immediate price outlook, IZI/USD is likely to trade lower if bulls fail to keep $0.030. The hourly chart shows the token is trending towards the oversold territory though and could thus be due an upward flip should the $0.02 base hold. Otherwise, a dip to $0.011 could happen.

A look at Izumi Finance’s network performance shows decent growth in total value locked (TVL). According to data on DeFiLlama, the TVL has risen sharply in the past 10 days – from under $2 million to over $25 million as of 26 April 2023.

The DeFi protocol’s products iZiSwap, LiquidBox and DAO veNFT among others are also seeing greater uptake across the market. Indeed, the platform announced on Wednesday that it had closed a $22 million financing round for the on-chain order book iZiSwap Pro.

The iZiSwap recently launched on zkSync Era, a future-proof zkEVM network helping to scale the Ethereum blockchain.

Other than the KuCoin, iZUMi has also struck key partnerships with MEXC Global, Bybit, Woo Network, and BitDAO. iZUMi also has a security partnership with auditing platform secure3io.

Building a strong platform amid the network pillars could inform long term demand for IZI and aid its price.

The post iZUMi Finance price: profit deals dump IZI after KuCoin listing appeared first on CoinJournal.

• Band Protocol (BAND) price was up 16% to $1.90 as major exchanges including Binance announced support for its network upgrade.
• The uptick in cryptocurrency prices, with Bitcoin (BTC) price bouncing to $29,000, also saw NEM (XEM) price rise 4% to $0.04.
• The price prediction for BAND and XEM is for a continued bullish flip, although buyers need to hold critical support levels.

Bitcoin (BTC) flipped higher from key support that has held over the past few days, with the bump to $29,000 providing a fresh bullish outlook for the cryptocurrency. With BTC price 6% up in the past 24 hours and crypto bouncing as new concerns hit the banking sector, a few altcoins look primed to make some decent moves.

Band Protocol (BAND) and NEM (XEM) are green today, but what’s their short term price outlook?

Band Protocol price prediction: BAND bullish above critical support level

The Band Protocol network upgrade is coming on 27 April 2023 and the native BAND token is surging. Major exchanges, including Binance are set to support the upgrade, and that has the community excited. But what’s the BAND price outlook? 

BAND/USD recently broke down from a rising parallel channel on the daily time frame to hit support around $1.65. Today’s double digit gains (BAND price is up 16% at the time of writing) has the coin trading above both the 50-day and 200-day exponential moving averages.

While the upside momentum is likely to push the price of Band Protocol higher, the key resistance zone is at the $2.0 psychological level. A bullish performance over the next few days could see buyers target $2.8.

On the downside, failure to consolidate gains above the $1.8 level could leave sellers eyeing $1.33.

The XEM cryptocurrency has largely plateaued since its descent from highs of $0.77 reached in March 2021. Having corrected to lows of $0.028 in December 2022, XEM/USD flipped positive to hit $0.056 in February 2023.

The cryptocurrency retested the $0.028 support level again today, 26 April 2023. But bulls are battling to recoup gains amid the overall crypto bounce.

The coin currently trades near $0.04, with about 4% upside in the past 24 hours. But XEM remains negative on the week and in the past 30 days, trading 11% and 5% down respectively over these time frames.

The post Band Protocol (BAND) and NEM (XEM) price prediction as Bitcoin bounces to $29k appeared first on CoinJournal.