Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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This is the reason Terra (LUNA) price jumped by over 50% over the weekend

Terra (LUNA) price has experienced a significant price hike over the weekend and into the early hours of Monday morning after holders burnt millions of LUNA tokens after Do Kwon, Terra Labs founder, sent a link address on May 21 to burn the LUNA tokens. 

However, Kwon later explained via a tweet that he was not for the idea of burning LUNA tokens.

Earlier today, May 23, Do Kwon clarified the confusion brought about by the address he shared and as more people rushed to send their tokens to the address. He warned people against sending their tokens via the link address to avoid tokens loss.

He added that he shared the link unwillingly as people kept on asking for the link address. He also noted that people can continue to send LUNA tokens of their own free will but he does not see any benefit in doing that.

Do Kwon said:

“People kept asking for the burn address – happy to provide for information purposes but want to clarify that you should not burn tokens unless you know what you are doing – i for one cannot understand.”

However, following the announcement, the price of LUNA has indicated some drop, and its currently trading at $0.0001997, up 18.46% from a daily high of $0.0002165. Terra UST is also trading at $0.07407, up 15.46% after it de-pegged from the $1 peg on May 9.

Meanwhile, the Terra community is still sending LUNA to the link address shared by Kwon as they believe that with a combined effort and support, they can push the price of LUNA to over $1.

Terraform Labs Revival Plan

Terraform Labs is carrying on with forking Terra after 66% of people voted for the plan. They believe that most validators are not interested in community opinion but in the fork. In this plan, there will be a new Terra blockchain without the UST stablecoin while the old chain will be called Terra Classic (LUNC). 

According to the proposal:

“Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. * TFL’s wallet 

The post This is the reason Terra (LUNA) price jumped by over 50% over the weekend appeared first on Coin Journal.

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Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol

The crypto market as a whole is bullish with most top 100 coins in the green at the time of writing. 

Top cryptos

Bitcoin gained slightly over the weekend and was trading just above $30,000 at the time of writing. It has seen a roughly 3.3% rise from its closing point on Friday last week. 

Ethereum, the second biggest crypto, also gained around 3% over the same period and is trading for just over $2,000, where it has in recent weeks. 

Outside the top 10, AVAX and Shiba Inu were the biggest winners, rising by more than 6%. Tron’s TRX is up around 3%, as are most top 20 coins. 

In the wake of Terra’s collapse, some investors are trying to escape from the project, while others are trying to pick up the pieces. 

Experts are warning that watchdogs will use the event to push for comprehensive stablecoin regulation. Four-fifths of Terra holders voted to rebuild the protocol on Terra’s governance proposal, but without the algorithmic element. 

Top movers

Outside the top 20, the tendency was similar, with most coins adding 3-9% to their value. Notable standouts include eCash with 14%, Neo with 17%, and Convex Finance and the associated Curve DAO Token with 13%.  

eCash is rising because a competition for a cash prize in its native token XEC is ending soon. Holders have been asked why they love eCash. The best answer will get 1 million XEC.

An exciting Moon Creatures NFT airdrop is coming up soon, and Neo’s token is gaining on the news. TerraUSD (UST) is currently trading for $0.07, up 13.63% so far today.   

At the other end of the scale, Kyber Network’s KNC lost 4% and Zilliqa lost 3%, both reversing recent gains.   

Trending

The biggest winner today is Sweet SOL (SSOL), a multilayer hyper-deflationary token that allows you to receive passive income in your wallet by holding through their mining protocol. 

Each transaction with SSOL provides for 3 functions: burning, reflecting and liquidity generation. SSOL has added 1,038% to its value today.  

The post Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol appeared first on Coin Journal.

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The land of the absurd: how did ANC gain 66% and where to buy ANC?

Sometimes things in crypto can be absurd. The Verge wrote in an article published on May 20 that Luna’s popularity was due to Anchor Protocol’s lending program, which promised annual yields of almost 20 percent.

Terra died, and Anchor Protocol’s token ANC is currently up 66% and gaining. 

If you want to know what ANC is, can it give you good returns, and the top places to buy ANC, you’ve come to the right place. 

Top places to buy ANC now

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.

Buy ANC with KuCoin today

BKEX

BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.

Buy ANC with BKEX today

What is ANC?

Anchor Protocol is a high-yield lending and borrowing protocol on stablecoin deposits. Lenders can deposit stablecoins and profit from their investments while taking advantage of low volatility at the same time – at least that’s what Anchor claims.

Anchor Protocol has attracted risk-averse investors looking for low-volatility, high-yield investments. It focused on LUNA and Terra’s stablecoin UST. 

Anchor Protocol is not the only lending protocol out there; it competes with AAVE, Compound, and more. It claims to stand out through its intuitive use and elegant user interface. 

The main value of the protocol is in connecting lenders and borrowers by offering the latter a way to borrow in stablecoin without losing their investments and the former a high interest rate on a purportedly stable asset. 

Should I buy ANC today?

ANC can 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. 

ANC price prediction

Wallet Investor believes ANC is a bad long-term investment, echoing sentiment on Twitter that Anchor is ‘next’ after Terra’s crashed LUNA. Digital Coin Price is more positive, predicting a slight increase of ANC to $0.33 this year. 

As for the following years, they predict: 

  • 2023: From $0.31 to $0.37
  • 2024: From $0.28 to $0.42
  • 2025: From $0.40 to $0.49   

ANC on social media

The post The land of the absurd: how did ANC gain 66% and where to buy ANC? appeared first on Coin Journal.

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Wrapped Luna is gaining, up 9%: here’s where to buy Wrapped Luna

The live Wrapped Luna token price today is $0.000189 with a 24-hour trading volume of just under $9 million. Wrapped Luna token is up 8.61% in the last 24 hours.

This brief guide has everything you need to know about the Wrapped Luna token, including whether and where to buy Wrapped Luna if you choose. 

Top places to buy Wrapped Luna now

As WLUNA is such a new asset, it’s yet to be listed on major exchanges. You can still purchase WLUNA using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy WLUNA right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for WLUNA

Now that you’re connected, you’ll be able to swap for 100s of coins including WLUNA.

What is Wrapped Luna?

Wrapped Luna (WLUNA) is a token on the Ethereum Mainnet that’s intended to represent Terra (LUNA) on this blockchain. It is a separate ERC-20 token created to track LUNA’s value. 

WLUNA was designed to allow LUNA owners to hold, trade, and take part in DeFi dApps on Ethereum. You can exchange 1 LUNA for 1 WLUNA and vice versa through a WLUNA partner. WLUNA requires 14 network confirmations.

Should I buy Wrapped Luna today?

Wrapped Luna can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt. 

Wrapped Luna price prediction

GOV Capital is extremely bullish on WLUNA, forecasting it will trade for $157.24 in a year and for $454 in 5 years. Wallet Investor makes a similar prediction, but warns it may be highly unrealistic due to the nature of Wrapped Luna. 

Price Prediction seems more reasonable. They predict a minimum price of $0.22 and a maximum of $0.27 in 2025.  

Wrapped Luna on social media

The post Wrapped Luna is gaining, up 9%: here’s where to buy Wrapped Luna appeared first on Coin Journal.

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Fantom (FTM) jumps 6%: Github data shows Andre Cronje coding for Fantom stablecoin

Fantom native token, FTM, has surged by more than 6% today after Andre Cronje, one of the most prolific DeFi developers, was spotted doing some coding for the Fantom stablecoin platform.

Github data revealed the coding of the developer sparking an intraday FTM price rally from a low of $0.3243 to a high of $0.3755 outpacing all the top 100 cryptos.

At the time of writing, FTM was trading at $0.3599 up 6.78% in the last 24 hours.

Cronje back to the crypto space

Earlier in March, Cronje and Anton Nell announced that they have left Fantom and the crypto space at large. Their announcement caused a sharp sell-down of the token from which it had been struggling to recover.

Additionally, earlier in April, the developer declared in a blog post that “crypto is dead,” calling for more crypto regulations. He had also said that he had no intentions to come back to the crypto space but his Linkedin profile shows that he is currently heading an investment banking platform.

However, his return comes amid troubled times when FUSD, Fantom’s stablecoin, has been de-pegging gradually in the past week and is yet to recover. Its de-pegging comes after Terra UST also de-pegged from the US dollar making investors more skeptical about stabelcoins.

Working on the Fantom catastrophe

Cronje seems to be working on the Fantom FMint protocol, a platform on which FUSD is minted. The move comes amid the market pressure that has de-pegged the FUSD stablecoin, besides, the changes that Fantom introduced to its stablecoin mechanism also seemed to have tumbled FUSD, which is still below the $1 peg ($0.7013, down 12.74%).

The protocol did outline some of the measures they will take to maintain the position through the stablecoin but did not specify the time it will allow position covering. 

FUSD interest rate is expected to rise but according to the gradual FUSD de-pegging, it seems that the traders are not yet convinced by the move. 

The post Fantom (FTM) jumps 6%: Github data shows Andre Cronje coding for Fantom stablecoin appeared first on Coin Journal.