Kategorie: Crypto Markets

Lyra, a secure online and in-store payment solution has launched a new platform that allows users to spend their cryptocurrencies in any of the many online merchants across the world.

Users will be able to pay using cryptocurrencies on online merchants like Netflix, DoorDash, Airbnb, Walmart and Instacart among others. Users can make both subscriptions and one-time purchases.

The new Lyra platform has an intuitive dashboard and Chrome extension that allow users to create virtual Visa cards depending on their demands. The cards are instantly activated and available for immediate spending.

Create virtual visa cards on Lyra

The process is streamlined and does not require users to reveal their personal data or private keys. Instead, users only choose from the major cryptocurrencies supported on the platform, load a balance and generate a virtual Visa card. At the moment, the platform supports BTC, LTC, ETH, ADA, MATIC, SOL, USDC, USDT, and BSC.

Crypto users with any of the supported cryptocurrencies can therefore buy the Lyra Visa Prepaid Cards and set their spending limits. They can then add the Lyra Chrome extension t their browsers.

The extension allows for the creation of cards and auto-filling of card details at checkouts on major retailers without having to go back and forth between different websites.

The platform’s intuitive checkout system allows users to auto-fill their virtual Visa card details at checkouts by simply injecting Lyra’s logo into the online retailers’ credit card fields. This allows for faster one-click checkouts.

Lyra is aiming at making it easier for people to use their crypto holdings for everyday transactions and helping bridge the gap between cryptocurrency and the traditional finance industry.

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• Cosmos (ATOM) trades around $10.86, nearly 10% down in the past 24 hours.
• ATOMUSD was rejected around $12.25 and could dip to support below $10.00.
• Crypto analyst Michael van de Poppe says a breakdown to $8.00 is possible, although holding above current prices could trigger fresh gains towards $18-$20 over next one month.

Cosmos (ATOM) price rejection at the top of $12.25 on Thursday has extended towards the $10.00 support level amid fresh profit booking intraday Friday.

Analyst on ATOM price

The ATOM/USD pair, which has shed nearly 10% at the time of writing and is perched near $10.86 could continue lower in the short term to retest a key support level.

If bear exhaustion manifests, a sudden bounce over the coming weeks could still see bulls reclaim winnings above the rejection point around $12.00. Notably, this upbeat perspective could open up the Cosmos price to a new rally over the next few months.

According to popular crypto analyst Michael van de Poppe, the two scenarios above are very much likely for the 28th ranked Cosmos.

ATOMUSDT 1-day chart by Michael van de Poppe At massive levels of support here, which is reasonable for long entries,” the analyst said, pointing to ATOM’s retreat to intraday lows near $10.42. This move has bulls looking at a crucial support zone with a base near $9.60 on the daily time frame.

Van de Poppe says buyers might have to seek another uplift at $8.00 if the above buffer “is lost.” However, if bulls manage to push against the bearish pressure and hold the demand zone, it could act as a potential trigger for a new leg up.

Cosmos’ price in this scenario would be looking at a run to $18-$20 over the coming month, the analyst noted in a tweet shared on Friday.

The weekly chart also has the main resistance at the 20-week moving average at $12.53, while robust support can be found near $5.35.

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Despite the cryptocurrency sector facing a bleak future, Brazilian E-commerce giant MercadoLibre has launched its own cryptocurrency. The newly launched digital currency will primarily be used in Brazil.

MercadoLibre made the announcement on August 18 through a Twitter post that said:

“Today we launch Mercado Coin in Brazil, further boosting our loyalty program and taking another step to democratize financial inclusion in Latin America. MercadoLibre to create cryptocurrency as part of loyalty program.”

The MercadoCoin

The newly launched token is called MercadoCoin and is set to be used as part of the E-commerce giant’s loyalty program for its customers in Brazil.

According to the founder and CEO of MercadoLibre, Marcos Galperin, the cryptocurrency is a boost to the company’s loyalty program.

While unveiling the cryptocurrency, MercadoLibre said that any customer in Brazil will be eligible for earning the cryptocurrency whose initial value was $0.10. Customers can earn the coin as cashback, customers will have to use the E-commerce giant’s platform for purchases.

The accumulated coins can then be used for trading on MercadoPago (MercadoLibre’s financial services and digital payments platform for businesses and customers) or making other purchases.

At the moment, MercadoLibre’s cryptocurrency is available to over 500,000 customers in Brazil and is expected to be adopted by the entire base of 80 million clients in the country. There is however no mention of expanding the cryptocurrency to other Latin American countries so far.

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The crypto market has taken a significant dive today with all cryptocurrencies including the likes of Bitcoin and Ethereum dropping by about 9% at the time of writing. The Gnosis (GNO) has remained the only bullish coin besides the various stablecoins.

At the time of writing, the GNO coin was trading at $183.08 with a 3.63% rise in the past 24 hours as the global crypto market cap decreased by 8.15%. But why is Gnosis the only non-stablecoin cryptocurrency in the “green zone” today?

Why is Gnosis price rising?

The main reason why Gnosis is on a bullish trend as the majority of cryptocurrencies dip is because of a post made by MakerDAO about GnosisDAO yesterday.

In the post MakerDAO said:

“The GnosisDAO has submitted a MIP6 Collateral Onboarding Proposal for GNO, its governance token. The proposal aims to generate at least 30 million DAI against the GNO collateral within the first year.”

The post by MakerDAO came right on the heels of Karpatkey’s post saying:

“We’ve been working jointly with the MakerGrowth CU and have put together a proposal to have GNO onboarded as collateral at MakerDAO.”

The onboarding proposal was received overwhelmingly by the MakerDAO community owing to Gnosis’ rich experience in the industry and its positive image in the crypto space.

What is Gnosis?

Gnosis, also known as GNO, is the native governance token of the GnosisDAO, launched in 2015 by Stefan George and Martin Koppelmann as part of ConsenSys. It builds decentralized infrastructure for the Ethereum ecosystem.

In November 2021, xDAI and GnosisDAO ecosystems were combined to create the Gnosis Chain, which is an Ethereum-based protocol that uses solid engineering to address scalability issues. The Gnosis Chain uses the xDAI token and it is the associated execution layer EVM chain for stable transactions.

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After a strong rally since the beginning of July 2022, the crypto market is once again under selling pressure. The broad crypto market has been retreating for the last four days with Ethereum price sliding below $1,850.

As of press time, Ethereum (ETH) was trading at $1,843.86 with a 5.46% decline over the past 24 hours. It is worth noting that ETH had gained almost 100% since the beginning of July, rekindling hopes of regaining the $2,000 level especially as the community look forward to the much anticipated Ethereum Merge Upgrade.

According to a digital data scientist at Coen Digital, David Kroger, investors and institutions are already gearing up for the Merge. Kroger sad:

“Institutions have been asking us about the Merge, along with the technicalities and probabilities associated with it for several months now.”

However, Kroger added that some players are already taking profits at the current ETH price and that could be one of the reasons why the Ethereum price is currently dropping.

Is the Merge craze fizzling out?

While the larger Ethereum community has shown support for the Ethereum Merge, some, especially miners, have been working to fork the Ethereum blockchain to continue using the proof-of-work (PoW) version of Ethereum.

Vitalik Buterin has however opposed the idea of forking Ethereum to continue using the PoW consensus mechanism saying that Ethereum will not support the Ethereum PoW after the transition to the PoS model is completed.

Arthur Hayes, the BitMEX CEO, has however cautioned that there could be a short spree for ETH if the Merge does not succeed. He said:

“If the merge is not successful, there will be a negatively reflexive relationship between the price and the amount of currency deflation. Therefore, in this scenario, I believe traders will either go short or choose not to own ETH.”

But he Arthur also said that a successful Merge upgrade would lead to a spike in the ETH price. He said:

“If the merge is successful… traders will buy ETH today, knowing that the higher the price goes, the more the network will be used and the more deflationary it will become, driving the price higher, causing the network to be used more, and so on and so forth.”

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