Kategorie: Crypto Markets

The crypto market is booming with all top 100 coins in the green at the time of writing. 

Top cryptos

Bitcoin gained almost 6% in the last 24 hours, trading above $30,000. The second-biggest crypto, Ethereum, added 8% to its value in that time and has almost reached $2,000 per one ether. The biggest top 10 gainer is Cardano, up 12%.   

Cryptos outside the top 10 also fared very well. Avalanche, Polkadot, and Shiba Inu have all gained more than 10% today. 

Top movers

Outside the top 20, the tendency was similar, with many coins adding as much as 15% to their value. Notable standouts include Helium with 20%, STEPN with 28%, Waves with 37%, and Arweave with gains of 18%.  

On May 28, the Helium community launched a HIP 51 vote, which introduces a framework to unlock massive utility on the blockchain by enabling any network to join the ecosystem alongside IoT, such as 5G, Wi-Fi, and VPN.

STEPN drew the ire of Chinese regulators over data privacy issues, but the associated losses were short-lived. 

According to Business Insider, fitness tracking apps are known to be problematic from a privacy perspective, and for China, the crypto angle just makes it worse.  

Waves is the biggest winner of the day without a doubt. Its founder Sasha Ivanov tweeted about a liquidity crunch on Vires Finance, where several accounts were close to defaulting. This sent Waves’ token’s price down a few days ago. 

Ivanov then tweeted he planned to create a proposal on Vires that would move the debt and remaining collateral of these accounts to his own account, reversing the coin’s price trend.  

At the time of writing, no cryptos had lost value, except a few stablecoins losing up to a few hundredths. Efforts to save TerraUSD have failed and this stablecoin’s market cap no longer ranks it in the top 100. 

The LUNA token of the new Terra 2.0 blockchain seemed promising when it launched on Saturday, but it lost over 70% within a day. It has been flat in the last 24 h, changing hands for around $6. The old LUNA, now LUNC, continues to decline.  

Trending

The biggest winner today is Mercor Finance, trading for $0.0199, up 473% in the last 24 hours. This platform enables developers to create a trading algorithm coded in Python. 

If they are happy with their creation, they can deploy the algorithm onto the platform.

The post Highlights May 30: Week opens with impressive bull run of the crypto market appeared first on CoinJournal.

After the Terra 2.0 blockchain was launched by Terraform Labs, it peaked at almost $20, only to shed 73% of its value the next day. It’s currently trading at around $6 and has been relatively flat over the past 24 hours. 

This brief guide has everything you need to know about the LUNA network and coin, including whether and where to buy LUNA if you choose.

Top places to buy LUNA now

eToro

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Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

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What is LUNA?

Terra (LUNA) is a public blockchain protocol derived from what’s now known as Terra Classic, the cryptocurrency associated with the algorithmic stablecoin TerraUSD (UST). 

Renamed to LUNC, the original LUNA crashed in May 2022. It is now virtually worthless. The creators of Terra, Terraform Labs, created a new blockchain, and hence the new LUNA. The new Terra blockchain is not linked to the UST stablecoin. 

It hopes to keep growing with the help of supports from the LUNA community and build on the world-class user interface and experience that propelled Terra Classic to the top 10 biggest coins by market cap and to second place in TVL at its peak. 

Should I buy LUNA today?

LUNA can definitely be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.

LUNA price prediction

Practically no price predictions are available considering how recently this token was launched. 

Crowd Wisdom quotes one Peter Loter as tweeting that LUNA is in a triangular formation, which is a neutral indicator. In the event of a bull run, this tendency is likely to continue.

LUNA on social media

$LUNA 2.0 is live now!

Guarda Wallet will add both #Luna 2.0 and #LunaClassic $LUNC with the next scheduled update.

Learn more about @terra_money’s plan for the new #Terra beginning 🙌https://t.co/VzLTLBo0Dh

— Guarda (@GuardaWallet) May 28, 2022

The post Top places to buy LUNA, the token of the new Terra 2.0 blockchain appeared first on CoinJournal.

The live Akropolis (AKRO) price today is $0.0056 with a 24-hour trading volume of $176.6 million. At the time of writing, Akropolis was up 13%.  

This brief guide has everything you need to know about the AKRO network and coin, including whether and where to buy AKRO if you choose.

Top places to buy AKRO now

Capital.com

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Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

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What is AKRO?

Akropolis is a company that runs an Ethereum-based DeFi protocol that seeks to make an autonomous financial ecosystem available for saving and accumulating wealth, including through lending and borrowing. 

To do so, it offers a set of cutting-edge products including Sparta, a platform for uncollateralized lending and AkropolisOS, a framework for developing for-profit decentralized autonomous organizations.

Another important product is Delphi, a yield farming aggregator and tool for dollar-cost averaging.

Should I buy AKRO today?

AKRO can definitely be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.

AKRO price prediction

According to Tech News Leader, the price of Akropolis’ token can go up to $0.007 in a year. It will be worth $0.021 in five years and $0.12 in a decade.

AKRO on social media

Can $AKRO go 100% pump by tonight? #Akro #Akrousdt pic.twitter.com/r1DLTSVDxt

— Muhammad Uzair (@Crypto_By_Uzair) May 29, 2022

The post AKRO is rallying, up 13% today: here’s where to buy AKRO appeared first on CoinJournal.

Tether, the world’s largest stablecoin company, has launched its USDT stablecoin on the Polygon network bringing its utility to the over 19,000 decentralized applications (dApps) running on Polygon.

Polygon, a layer 2 (L2) scaling solution for the Ethereum network, allows cheaper and faster transaction costs using ZK rollups and optimistic rollups technologies. Its dapps have been created by more than 8k developer teams from 3k in October.

Tether has a variety of tokens backed by assets with a more “stable” value like the commercial paper and US treasury bills. These assets keep Tether tokens pegged to one dollar each. Besides, Tether had recently announced a new stablecoin, MXNT, launch that will be pegged on Mexican Peso.

Advantages of stable assets

Stable assets are very important as they help to increase the rate of trade in the market as well as cubbing all the risks involved in the DeFi ecosystem in terms of market volatility.

Polygon is now the 11^th blockchain to host USDT. Other blockchains that host USDT are; Solana, Ethereum, Avalanche, Omni, Kusama, Algorand, EOS, Bitcoin Cash’s Standard Ledger Protocol, and Tron.

Paolo Ardoino, Tether CTO said:

“We’re excited to launch USD₮ on Polygon, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space.” 

Notably, USDT had faced some turbulence after TerraUSD (UST) collapsed. This could not be dealt with since UST was an algorithmic stablecoin that was backed by unstable crypto instead of direct dollars.

However, Tether’s recovered its peg quickly and reassured its holders that their reserves were fully backed.

The post Tether launches its USDT stablecoin on the Polygon network appeared first on CoinJournal.

STEPN, the most popular fitness-focused Move-to-earn game, shared an official announcement stating that they will block geolocation (GPS) services for users in China mainland starting on July 15.

2/ 如果您預期長期會在該地區的GPS 或 IP位置登陸及使用您的帳戶，我們鼓勵您自行決策處理應用內的資產。在此期間，更多細節將通過官方社交媒體公告、郵件、應用內提示等方式通知使用者。

— STEPN | Public Beta Phase IV (@Stepnofficial) May 26, 2022

Following the announcement, the price of STEPN (GMT) dropped by 5.29% to a low of about $0.83 before bouncing back by 20.67% to trade at $1.05 at the time of writing.

What is STEPN?

After its launch in late 2021, STEPN gained popularity in the world gaining over $20M profit in Q1 of 2022. Currently, the game has over 580K global players, however, it’s not clear how many players are in China.

Since the company will be blocking all the China-based IP addresses, local users have been given up to July 15 to make arrangements themselves for their virtual assets before the change becomes effective. 

STEPN uses the GPS concept to track the movement and steps of the players who purchased the virtual NFT sneakers. The virtual NFT sneakers are then converted to in-game utility tokens.

What caused STEPN to block GPS services in mainland China?

The move to block GPS services in mainland China is mainly due to regulatory issues.

Although STEPN did not explain the reason why the team decided to take that stand, their Twitter thread has hinted at regulatory policies compliance.

3/ 我們在STEPN 將一如既往地致力於提供更好的使用者體驗及產品合規性。我們對為您造成的不便表示抱歉並感謝您的理解！STEPN從創建起就沒有在中國大陸地區從事任何業務也並未提供下載管道。STEPN歷來重視合規義務，始終嚴格遵守當地監管機構相關要求。
我們也在此提醒用戶謹防詐騙。

STEPN團隊

— STEPN | Public Beta Phase IV (@Stepnofficial) May 26, 2022

The post noted:

“STEPN has always attached great importance to compliance obligations and always strictly abides by the relevant requirements of local regulatory agencies. We also remind users to beware of scams.”

However, the Chinese government is known for its strict policies against digital recording technologies it has not provided and also the fear of foreign surveillance.

Last year, the Chinese government banned the use of Tesla cars by its state officials due to their facial recognition cameras saying that they can be used to spy and gather state information.

Earlier this year, China’s general prosecutor added the level of inspecting non-fungible tokens (NFTs) and the Metaverse. Besides, the officials in the country have been warned against financial crimes like illegal fundraising and money laundering carried out through the Metaverse and NFTs. Related crimes will not be tolerated and will attract severe punishment

The post STEPN (GMT) price surges 20% a day after STEPN said it’ll block GPS services in China appeared first on CoinJournal.