Kategorie: Crypto Markets

• OANDA is offering the new crypto trading service via a partnership with Paxos Trust Company.

OANDA, one of the leading online broker platforms that provides multi-asset trading among other services, has expanded its services to the United States with a new crypto trading offering.

The company’s expansion into the US market is in partnership with regulated blockchain firm Paxos Trust Company, OANDA revealed in a press release on Thursday. 

The two companies announced they were collaborating on a cryptocurrency trading ecosystem September. 

OANDA eyes growing US market

By expanding to the US, OANDA hopes to tap into the growing crypto trading ecosystem by providing investors with a platform that gives customers seamless access to the crypto asset class alongside their forex portfolios.

“This launch signals the start of an exciting new phase of growth for OANDA, creating significant opportunity in the US market. As the number of Americans seeking exposure to cryptocurrencies grows, it’s becoming clear that digital assets should form part of a unified trading experience for active traders and sophisticated investors,” said Gavin Bambury, the Chief Executive Officer of OANDA.

US-based traders will access spot crypto trades via OANDA mobile app, with transactions powered by Paxos’s itBit exchange. Investors will manage all their activities via the app, including account registration, deposits and trading, the broker announced.

Customers will be able to trade bitcoin, ether and PAX Gold, with trading pairs against the US dollar.

Founded in 1996, OANDA debuted its FX trading platform in 2001 to pioneer web-based currency trading.

The post OANDA launches new crypto trading service for US customers appeared first on CoinJournal.

Ethereum whales with 1 million or more of Ether in their wallets added 3.5 million tokens, or over $4.5 billion worth of ETH in 30 days.

Santiment, a market intelligence firm covering on-chain and social metrics for over 2,500 cryptocurrencies, says more whales have bought Ether, the native token on the Ethereum blockchain.

As CoinJournal recently highlighted, Ethereum is one of top 3 coins popular with whales, and indeed, large whales accumulating ETH has pushed the total holdings by such addresses to an all-time high above 28.5 million ETH.

Billionaire whales scoop $4.5 billion worth of ETH from weak hands

According to Santiment data, Ethereum billionaire addresses that hold at least 1 million ETH have continued to accumulate Ether despite the bear market.

In the 30 days since around 11 September this year, the number of whales with 1 million or more of Ether has grown to 132 addresses. 

On-chain data shows the accumulation began just before the Ethereum merge, and has continued throughout September, and first half of October, with 14% more Ether added by these top holders to account for over $4.5 billion worth of ETH scooped from weak hands.

🐳 Since September 11th, #Ethereum billionaire whale addresses holding 1M or more $ETH have collectively added 3.5M more coins. This has increased their cumulative bags by +14%. There are currently 132 such addresses in existence. https://t.co/iek4uXbJjV pic.twitter.com/dlCdDkO0Bm

— Santiment (@santimentfeed) October 19, 2022

In its latest analytics outlook, the platform points out ETH held by billionaire addresses has reached an all-time high of 28.55 million ETH-  well over $36 billion as per the latest Ethereum price of $1,287 per token.

Elsewhere on-chain data shows Ethereum’s active addresses count has hit its lowest level in 4 months. Santiment says the trend has held with post-merge price stagnation a factor.

😲 #Ethereum’s active addresses have sunk to 4-month lows with weak hands continuing to drop post-#merge, and disinterest at a high as prices have stagnated. Monday was the first day that there were less than 400k addresses on the network since June 26th. https://t.co/FKXHhg6Z5g pic.twitter.com/1Ekj3bpT0A

— Santiment (@santimentfeed) October 20, 2022

Ethereum has been bound below $1,400 since mid-September when it dropped from highs of $1,470.

The post Ethereum whales scooped 3.5 million ETH in 30 days: Santiment appeared first on CoinJournal.

Aptos Labs’ newcomer cryptocurrency Aptos (APT) was off to a rocky start as its value continues to drop. Aptos price plunged further today in its debut on major crypto exchanges in a move seen as its welcome to the ongoing crypto winter.

Coinbase, FTX, OKX, Huobi, and Binance were among the first exchanges to open spot trading for APT at 1:00 UTC Wednesday.

In a dramatic turn of events, the token’s price had already dropped 30% since its launch to the time it was being listed on Coinbase at about $9. It then dropped almost immediately by a further 50% to trade at a daily low of $6.69. At press time, the coin was trading at $8.31 According to Coinmarketcap.

To help traders who want to jump onto Aptos at its current low price, Coinjournal has prepared a brief guide on where to buy the APT token.

To find out more, please continue reading.

Where to buy Aptos cryptocurrency

What is Aptos (APT)?

Aptos (APT) is the native cryptocurrency of the newly launched Aptos Autumn blockchain that was launched by Aptos Labs on October 17, 2022.  

Aptos Labs were the creators of the failed Diem stablecoin project that Meta Platforms Inc (formerly Facebook) had attempted to launch sometime back. Other products that Aptos Labs has developed to help users in We3 include the PetraWallet, AptosNames, and Aptos Explorer.

Despite the Aptos Autumn blockchain starting off to a controversy about its tokenomics which the team has spent much of the post-launch time dispelling, the team is also working to integrate the blockchain with a number of new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.

Should I buy APT today?

A majority of the crypto community has very high hopes for the newly launched Aptos blockchain and its Aptos (APT) token. Therefore, if you are looking to invest in a newly launched token at a low price, APT could be a good choice now that its price has plunged since its launch.

However, you should proceed with caution owing to the high volatility nature of cryptocurrencies and the fact that there are concerns about APT’s tokenomics and allegations about its processing speeds being lower than previously anticipated.

Aptos price prediction

It is difficult to give a precise Aptos price prediction and analysts expect the token to drop further in the coming days. However, the majority of investors are bullish on the cryptocurrency.

Aptos social media trends

1/ Welcome to @AptosLabs — we’re excited to re-introduce ourselves!

While @AptosFoundation will support and develop the Aptos network and ecosystem, Labs will develop tooling and products on the Aptos blockchain that redefine the web3 user experience ⬇️https://t.co/ENHW5b5xUD

— Aptos Labs (@AptosLabs) October 18, 2022

The post Much-awaited Aptos cryptocurrency off to a rocky start: here’s where to buy Aptos appeared first on CoinJournal.

It feels like nothing but the words of Jerome Powell matter in markets right now.

In looking at the data, it’s kind of true. I plotted the correlation of Bitcoin against the S&P 500 since the beginning of 2017, and the results show that the correlation has generally picked up over time. This really does shoot down talk of the “inflation hedge” narrative that proved so popular during the pandemic.  

But should correlations not come down over time? Well, not really. Think back to 2017, and the texture of the crypto landscape. It was still a niche asset; it was only beginning to get covered in the mainstream – and certainly nowhere near the level of digital ink that is spilled over it these days.

Today, we have public companies holding it. I took a visit to El Salvador this summer, where I paid for goods with it. These are remarkable developments compared to just a few years ago. Point being, Bitcoin is now in the mainstream.

And being a mainstream financial asset – and one that is substantially further out on the risk spectrum – it will indeed be influenced by the market.

2022

Indeed, this correlation has hit all-time highs this year, moving in lockstep with the stock market. What was the upward shift caused by? The interest rate environment has transformed entirely.

Following a decade of historically low interest rates, inflation has burst out at the seams as a result of incessant money printing and stimulus spending through the pandemic. In order to rein this in, central banks have been forced to hike, with the Federal Reserve in the US leading the charge.

Nothing sucks liquidity out of a market more than rising interest rates, and this is particularly true for high risk assets, such as tech stocks, which discount cash flows back to the present – discount rates which are now measurably higher.

And so – and this is something that is frequently overlooked – Bitcoin is now in a bear market while the wider market is too. Because for the first time in its existence, Bitcoin is experiencing a macro climate not awash with quantitative easing, basement-level interest rates and bullish sentiment. And it’s creaking at the knees – just like every other financial asset is.

Correlations rise in crises. Sellers are indiscriminate when a flight to quality occurs; liquidity is sought, defensive positions are taken and cash reserves rise. Bitcoin, for the first time in its history, is experiencing that the hard way.

In this context, it is no surprise that the correlation has risen.

The post Why is crypto following the stock market closer than ever before? appeared first on CoinJournal.

Quant (QNT) cryptocurrency has been on a sustained bullish trend in the past week as the majority of cryptocurrencies including Bitcoin and Ethereum struggled to get a footing after months of a bear market.

Although QNT is on a downtrend today, having lost about 6% in the past 24 hours, the coin has gained about 26.3% in the past seven days. The coin has seen a resurgence that has seen it beat Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. But why?

Let’s delve into the forces propelling this cryptocurrency high in such tough times.

Why Quant price surged 26% in the past week

Interestingly, there has not been any major news about Quant blockchain or its QNT token over the recent past that would spur such a performance for the coin. But all the same, a blockchain analytics startup called Santiment has attributed Quant’s price surge to “Volume, daily active addresses, and whale accumulation.” The startup says that whales have accumulated 15% of QNT tokens in just five months.

Data from Intotheblock also shows that about 60% of holders purchased QNT between one and twelve months ago.

The majority of Quant’s network activity can be attributed to the recent changes where the network introduced the Tokenize mechanism back in June allowing users to generate QRC20 tokens that are compatible with ERC20 tokens. Quant also supports QRC21 tokens allowing users to build and deploy safe, interoperable non-fungible tokens (NFTs).

The post Quant (QNT) gains 26% in a week as other cryptos struggle: here’s why appeared first on CoinJournal.