Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

Veröffentlicht am

Aave V3 launches on Ethereum layer-2 network Metis

  • Aave V3’s launch on Metis follows a community vote that went live earlier this month.
  • According to the Metis team, there are various ways in which the Aave V3 integration will benefit ecosystem users.
  • The DeFi protocol’s V3 is also live on Avalanche, Polygon, Optimism and Arbitrum.

Aave, a decentralized liquidity protocol, has deployed on the Ethereum layer-2 scaling platform Metis, offering a range of decentralized finance (DeFi) features and products to its ecosystem.

The launch on the Metis Layer-2 comes after a community proposal for the zero-knowledge (zk) proof EVM, which enables Aave governance to activate the Aave V3 Metis pool by completing the initial setup and listing WETH, USDC, USDT, DAI, and METIS.

“The integration of Aave Protocol V3 brings enhanced capital efficiency with valuable new security and risk mitigation features,” Metis co-founder Kevin Liu said.

Capital efficiency for users

V3 integration offers numerous benefits to ecosystem users, with network speed and security enhanced. Users will also take advantage of features such as lending and borrowing of assets with less collateral. 

The launch of Aave V3 on Metis also means DeFi users can now generate yield easily via various supported assets even as they tap into enhanced risk management tools and reduced transaction fees through gas optimization. Overall, the integration brings more capital efficiency for Metis users and developers, the latter also accessing key tools for innovating decentralised applications.

Aave is a widely used DeFi protocol, boasting over $5.24 billion in total value locked (TVL). The protocol’s V3 version deployed on the Ethereum mainnet in January 2023 after successful launches on various Ethereum layer-2 protocols, including Polygon, Avalanche, Arbitrum, and Optimism.

The post Aave V3 launches on Ethereum layer-2 network Metis appeared first on CoinJournal.

Veröffentlicht am

PEPE price dives after Whale transfers trillions of tokens to Binance

  • At press time, PEPE was trading at $0.000002328.
  • The token price has declined by 10.93% in the last 24 hours.
  • PEPE hit an all-time high of $0.000004354 on May 5, 2023.

Three days after hitting its all-time high, PEPE, a meme token that has seen its popularity go through the roof recently, is now on the decline.  

The price of PEPE has dropped by 46.53% in just three from its all-time high of $0.000004354, which it hit after the meme token got listed on several major exchanges including OKX and Binance.

PEPE price

 

About 4.23 trillion PEPE tokens sent to Binance

According to a tweet by blockchain data provider Lookonchian, a giant whale bought 4.23 trillion PEPE tokens using 422 $ETH and 200K $USDC. The whale then deposited all the purchased PEPE to Binance.

The above transactions were made on May 5, the same day Binance announced PEPE’s listing. Immediately after purchasing the trillion of PEPE tokens, the price of PEPE skyrocketed making the whale accrue a profit of about $14.5 million at the time he was depositing the token in Binance.

There is fear in the market that the move by the whale to send the meme coins to Binance could be in preparation to sell the tokens in order to recoup profits before the token dumps. These fears have exerted pressure on the market resulting in the current price drop.

The post PEPE price dives after Whale transfers trillions of tokens to Binance appeared first on CoinJournal.

Veröffentlicht am

ETH retests $2K: Here’s why Ethereum price is up today

  • Ethereum (ETH) is trading higher today as the crypto market cap bounces to $1.27 trillion.
  • ETH price rose to $2,008 while Bitcoin (BTC) price climbed to $29,800 looks to end the week stronger.
  • Gains for cryptocurrencies came as US equities ended the week higher, with regional bank stocks pummeled earlier in the week rebounding.

On Friday, the price of Ethereum rose over 6% within hours to break above $2,000, a key technical level that bulls seek to turn into support. On Saturday, Ethereum was trading around $1,966 and up 4% in the past 24 hours after rising to intraday highs of $2,008.

Ethereum isn’t the only crypto asset to see a price bump in the past day. Bitcoin, the benchmark cryptocurrency and digital gold, rose to near $29,800 as a 3% price increase took bulls to within the now highly coveted $30k level. 

Both Ethereum and Bitcoin are looking to benefit from an uptick in investor sentiment, particularly with risk appetite back following recent dips. 

Why did Ethereum price go up?

The total cryptocurrency market cap rose 1.5% to above $1.27 trillion as memecoin mania returned with Pepe (PEPE) and Floki Inu (FLOKI) prices surging after listing on Binance.

A look across the broader market shows crypto prices rebounded as the US stock market ended the week higher, with the major indices all turning green after a four-day losing streak. 

The S&P 500 closed 1.85% up, the Dow Jones Industrial Average added 546 points, or 1.65% and the Nasdaq closed 2.25% higher.

The positive returns for the market came as equities rebounded, led by shares of Apple (AAPL) that jumped to a nine-month high on the iPhone maker’s better-than-expected quarterly report. The market also saw regional bank stocks show some recovery after massive sell-off in the week, with PacWest shares among those to rebound after falling over 60% on Thursday.

While crypto and other risky assets are likely to benefit from overall investor sentiment, the coming week will be key as the markets assess April’s CPI report.

The Federal Reserve Chair Jerome Powell hinted this week that the central bank could pause its interest rates hike. However, with this week’s strong jobs data, all eyes will be on the CPI data as investors evaluate the inflation indicator.

The post ETH retests $2K: Here’s why Ethereum price is up today appeared first on CoinJournal.

Veröffentlicht am

Coinbase stock jumps 15% on strong Q1 results: sell into the strength?

  • Coinbase reports market-beating results for its fiscal Q1.
  • Analysts are still keeping bearish on the Coinbase stock.
  • Coinbase shares are now up roughly 70% year-to-date.

Coinbase Global Inc are up nearly 15% on Friday after reporting its financial results for the first quarter that handily topped Street estimates.

Coinbase stock up on narrowed loss

  • Lost $78.9 million versus the year-ago $429.7 million
  • Per-share loss also narrowed sharply from $1.98 to 34 cents
  • Revenue tanked 34% year-on-year to $772.5 million
  • Consensus was $1.45 a share loss on $655 million in revenue
  • Total operating expenses were down 24% versus last year

The crypto company attributed strength in its quarterly performance partially to the surge this year in the price of bitcoin. Still, Wells Fargo analyst Jeff Cantwell remains bearish on the Coinbase stock due to the regulatory uncertainty.

His $43 price objective suggests more than a 20% downside from here.

BofA is also dovish on Coinbase shares

Remember that Coinbase Global Inc had received a “Wells notice” from the U.S. SEC in late March. It is also noteworthy that trading volume in the recently concluded quarter came in at $145 billion and missed the consensus estimate by $2.7 billion.

To that end, Bank of America analyst Jason Kupferberg also reiterated his “underperform” rating on the Coinbase stock today and said:

We maintain our cautious view on Coinbase shares as we continue to think retail crypto volumes will remain weak and regulatory overhang will linger for some time.

In its current quarter, Coinbase Global Inc expects its subscription and services revenue to sequentially decline to around $300 million, as per its letter to shareholders.

The post Coinbase stock jumps 15% on strong Q1 results: sell into the strength? appeared first on CoinJournal.

Veröffentlicht am

Here is why Floki Inu’s price surged by over 50% today

Key takeaways

  • FLOKI is the best performer amongst the top 100 cryptocurrencies by market cap today.

  • The token has added more than 50% to its value today and could rally higher in the near term.

  • Binance is set to list Floki Inu in its Innovation Zone while the token is now live on Bitfinex

Floki Inu price rally by more than 50% today

FLOKI, the native token of the Floki Inu ecosystem, has been the best performer amongst the top 100 cryptocurrencies by market cap in the last 24 hours.

At press time, the price of Floki Inu stands at $0.00005282, up by 56% over the past few hours. 

The rally comes thanks to two massive listings of the Floki Inu token. Earlier today, Bitfinex, one of the leading cryptocurrency exchanges in the world, listed FLOKI on its trading platform. 

This latest cryptocurrency news means that FLOKI can be traded against USDT on the Bitfinex crypto exchange.

Binance lists FLOKI in its innovation zone

Following the announcement by Bitfinex, Binance, the world’s largest cryptocurrency exchange, also announced earlier today that it would be listing Floki Inu and PEPE coins in the Binance Innovation Zone. 

The Binance Innovation Zone was introduced to users of the cryptocurrency exchange a safe place to trade new and innovative projects. 

These latest developments were behind FLOKI rallying by more than 50% over the last 24 hours. The positive performance comes despite the broader crypto market currently stagnating.

Bitcoin is down by less than 1% in the last 24 hours and continues to trade above the $29k level. Ether, the second-largest cryptocurrency by market cap, is up by less than 1% so far today and is trading just above $1,900. 

At press time, the total cryptocurrency market cap stands at $1.2 trillion. 

The post Here is why Floki Inu’s price surged by over 50% today appeared first on CoinJournal.