Kategorie: Crypto Markets

• Casper price is down 2% in the past 24 hours, action that mirrors broader market sentiment.
• CSPR rose to $0.063 in April.
• The technical picture signals continued strength despite the latest dip.

CSPR, the native governance token of Casper Network, is down 2% in the past 24 hours and up roughly 1.5% in the past week. According to CoinGecko, 30-day gains stand at around 3.2% as of July 29 at 11 am ET, with CSPR changing hands near $0.039.

The daily trading volume has fallen by about 36% in the past 24 hours to suggest reduced network activity, data shows. Given these details, what’s the price outlook of Casper’s native token?

CRPR price outlook: key developments

Casper is an L1 proof-of-stake blockchain based on Correct-By-Construction (CBC) consensus specification and targeted for institutional and enterprise clients.

From a broader crypto market perspective, Casper’s price performance over the month aligns with recent struggles for mega caps. Bitcoin has found it difficult to break above $30k and currently hovers near $29.3k, while Ethereum’s attempts to reclaim $1,900 have been rejected multiple times.

Even XRP, which outperformed the top altcoins by a big margin after Ripple’s win against the US Securities and Exchange Commission (SEC), has pared more than half the gains seen on July 13 when it soared over 100%. XRP is down 8% in the past seven days.

As noted, Casper has traded lower in recent days. However, with sentiment across the industry largely bullish, a return to key levels is likely to catalyse more gains for hodlers. The blockchain platform’s growth metrics remain positive, particularly after a recent partnership with US-based regulated broker-dealer INX. 

The collaboration will see Casper Labs’ equity tokenized and listed for trading on secondary markets. The firm expects this to be rolled out in September 2023. Other notable events are the recent announcements around update to the Casper Wallet and integration with fiat-to-crypto onramp Topper.

Investors are buoyed by the developments, which could see more adoption and demand for CSPR and potentially boost its price.

CSPR price – technical outlook

As the chart below shows, the technical outlook for CSPR suggests bulls still have the upper hand. Buyers are likely to seize control if prices break above the resistance area marked by the trendline (red). 

The daily RSI is supportive of this as it holds the trajectory seen following the CSPR/USD breakout on July 21. The MACD indicator is also highlighting growing strength.

If price holds above the 50-day EMA, it could continue towards $0.046 and the primary hurdle at $0.053. Above this is the year-to-date highs of $0.063 reached in April.

On the downside, the main support level lies around $0.035.

The post Casper (CSPR) price prediction: Still up to bulls? appeared first on CoinJournal.

• Shiba Inu wallet addresses with 10 million to 100 billion added 1.11 trillion SHIB since June 4.
• The increased whale activity comes amid bullish sentiment for Shiba Inu ahead of its Shibarium launch.
• SHIB price was slightly higher on Saturday, trading around $0.00000830.

Shiba Inu is among altcoins to see a significant surge in their prices over the past week, with the meme coin largely benefitting from whale activity.

According to on-chain data from market intelligence platform Santiment, large holders have accumulated staggering amounts of SHIB since early June.  This spike in whale activity comes ahead of a highly anticipated Shiba Inu ecosystem event – the launch of the layer-2 solution Shibarium.

While only testnet access is available for now, the huge anticipation surrounding Shibarium is one of the factors driving interest in the meme coin.

Shiba Inu whales gorge on SHIB

As Santiment shared on Friday, large Shina Inu wallets in the category of “sharks” and “dolphins” have added more than $9 million worth of SHIB over the past two or so months.

Indeed, on-chain data indicates addresses with 10 million to 100 billion SHIB have accumulated 1.11 trillion of the meme token since June 4. The total SHIB holdings in the hands of these large investors stood at $32.49 trillion on Friday, July 28. In total, this group holds roughly $266 million worth of SHIB.

Here’s Santiment’s chart showing the increased SHIB accumulation by 10 million to 100 billion address cohort.

😺 #ShibaInu has been a surprise winner during the final hours of a particularly dull trading week. Shark & dolphin wallets holding 10M-100B $SHIB tokens have accumulated ~$9M in just under 8 weeks, a significant amount for the 14th ranked #crypto asset. https://t.co/WwZrvcUN0D pic.twitter.com/98A1darF5A

— Santiment (@santimentfeed) July 28, 2023

SHIB price outlook

SHIB traded at $0.00000830 on Saturday afternoon, about 2% up in the past 24 hours after paring gains seen when it reached intraday highs of $0.00000840 across major exchanges.

CoinGecko ranks Shiba Inu the 15th largest cryptocurrency by market cap, with this at over $4.9 billion at the time of writing.

The post Shiba Inu whales accumulated a staggering 1 trillion SHIB in 8 weeks appeared first on CoinJournal.

• Kannagi Finance has reportedly rugpulled, with users losses amounting to $2.13 million.
• Protocol’s social media channels have been deleted or are unaccessible.
• KANA token has nosedived, plunging by 99% after the incident.

Kannagi Finance, a revenue aggregator protocol on zkSync Era, has reportedly rugpulled. Users have suffered major losses, while the price of the native token KANA has nosedived.

The protocol’s official website has allegedly “expired”. Meanwhile, its social media channels, including the official Twitter account are inaccessible. Total value locked (TVL) has plummeted from $2.13 million on Friday to near zero this morning, putting users losses at over $2 million.

TVL plunged to near zero

Kannagi Finance is said to have had its audit on June 6, handled by SolidProof, an audit agency under Germany-based Make Network. However, the protocol’s smart contract code remained closed-source and unverified.

 “The zkSync Era revenue aggregator protocol Kannagi Finance has RugPulled, and its official website have expired. The TVL of Kannagi Finance was $2.13 million yesterday, and the current TVL has almost returned to zero, so the estimated user loss is $2.13m.  The Kannagi Finance contract code is not open source verified,” Wu Blockchain reported earlier Saturday.

Kannagi Finance completed the audit of SolidProof on June 6. SolidProof is an audit agency under the German company Make Network, established in May 2020, and its partners include PinkSale, BitMart, UNCX Network, etc. https://t.co/6t0uljmmjn

— Wu Blockchain (@WuBlockchain) July 29, 2023

A statement from SolidProof acknowledges the incident and say they are “thoroughly investigate the situation.” However, they have pointed out that the platform, which has worked with BitMart, PinkSale and UNCX, did not audit the Vault contracts for the reported incident.

“However, as a registered security provider, our top priority is to assist in resolving this issue promptly and transparently,” the statement read.

🚨 Kannagi Finance Statement 🚨

Dear Investors and community,

We would like to address the recent incident involving KannagiFinance. SolidProof has formed a task force in collaboration with @KyberNetwork to thoroughly investigate the situation.

We understand the severity of…

— SolidProof.io Official (@SolidProof_io) July 29, 2023

Following the incident, Kannagi Finance’s native token KANA plunged 99% to near zero.

The post zkSync Era protocol Kannagi Finance rugpulls, users lose millions appeared first on CoinJournal.

• Crypto.com has earned approvals from seven other regulatory bodies in the recent past.
• The exchange’s approval in the Netherlands comes weeks after Binance withdrew its license application.
• Crypto.com seems to be beating its main competitor Binance in regulatory approvals around the world.

The well-known cryptocurrency exchange Crypto.com has made history by obtaining authorization for registration from the Dutch Central Bank (DNB) to provide its services in the Netherlands.

Following careful adherence to the nation’s Money Laundering and Terrorist Financing (Prevention) Act, Crypto.com received the DNB’s approval, demonstrating the exchange’s commitment to upholding strict regulatory requirements.

This accomplishment, according to CEO Kris Marszalek, is a turning point for the company’s service and demonstrates the exchange’s commitment to cooperating closely with regulators to advance the industry responsibly.

Crypto.com regulatory approvals around the world

The latest endorsement for Crypto.com by the Dutch regulatory body adds to a long list of worldwide endorsements. The Monetary Authority of Singapore, as previously reported here, and the UK’s Financial Conduct Authority, as previously reported here, are among seven other regulatory bodies that have already approved the exchange.

The exchange has improved its standing as a trustworthy player in the cryptocurrency industry thanks to its outstanding success in navigating challenging regulatory environments and obtaining required certifications. Notably, Crypto.com recently acquired a regulatory licence in Spain, underscoring its unwavering commitment to upholding legal requirements.

Looking ahead, Crypto.com wants to strengthen its relationships with EU authorities in anticipation of the Markets in Crypto-Assets (MiCA) regulations that will change how EU countries deal with the cryptocurrency industry. By taking a proactive stance, Crypto.com is positioned to play a significant role in influencing the European crypto industry’s future.

Crypto.com in the Netherlands

With each new regulatory approval, Crypto.com cements its position as a leading and trusted cryptocurrency exchange, bolstering investor confidence and opening up exciting possibilities for further expansion. As the crypto market continues to evolve, the exchange’s dedication to compliance stands as a beacon of reliability, attracting both seasoned and novice investors.

Crypto.com’s clearance by the Dutch Central Bank underscores the exchange’s exceptional commitment to compliance and responsible practices. The company’s growing list of approvals from various global regulatory bodies positions Crypto.com at the forefront of the crypto industry’s transformation.

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