Kategorie: Crypto Markets

As Songbird’s lucrative token giveaway draws to a close, its value is rising exponentially. The live Songbird price today is $0.03 with a 24-hour trading volume of just over $10 million. 

Look no further than this short article for all the details about Songbird: what it is, is it worth investing in, and the best places to buy Songbird now.

Top places to buy Songbird now

Bitstamp

World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.

Buy SGB with Bitstamp today

Celsius

Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.

Buy SGB with Celsius today

What is Songbird?

Songbird is the token of Flare’s Canary Network, enabling trustless use of tokens on networks without smart contracts. Songbird is powered by Flare’s technology. Flare is a scalable, low carbon, low cost, highly decentralized smart contract EVM-compatible platform. 

Its native token Spark (FLR) allows Flare to unleash huge value in diverse ecosystems and blockchain communities. 

Flare’s network structure is derived from its underlying integrated networks, which makes it unique. It leverages the decentralization and security of these networks. 

Should I buy Songbird today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money.  

Songbird price prediction

Analysts make mixed predictions of Songbird’s price. Wallet Investor and GOV Capital are bearish. The former forecasts a drop to $0.01 in March and to $0.007 by the end of the year. GOV Capital expects Songbird to have zero value in a year’s time.

Price Prediction and Digital Coin Price are bullish. The latter predicts it will reach $0.11 this year and $0.17 in 2025. In 2030, it expects Songbird to be worth $0.38. Price Prediction forecasts a race from $0.09 this year to $0.41 in four years. 

Songbird on social media

The next Luna 🤣 pic.twitter.com/pyWLGBj58B

— Wahyu Setiawan (@bhayuet) May 15, 2022

The post You can now buy Songbird, which gained 55% in 24 hours: here’s where appeared first on Coin Journal.

The proposal is to have a new Terra (LUNA) chain and (old)Terra Classic (LUNC), with UST removed from the new chain.

Terra should fork to create a new chain to save it from total collapse, Terraform Labs’ Do Kwon announced on Monday.

According to Kwon, the new plan will also help save the community around the cryptocurrency, which he says has a lot of good developments going.

Kwon said that the plan is to have a new governance proposal put to the community on 18 May. Thereafter, a timeline would kick in towards forking the Terra blockchain, with the algorithmic stablecoin not part of the new blockchain.

11/ TFL will be initiating a governance proposal for the network fork in the next few hours – if the proposal passes, then it will coordinate the fork with validators next Friday 05/27.

— Do Kwon 🌕 (@stablekwon) May 16, 2022

“$UST peg failure is Terra’s DAO hack moment – a chance to rise up anew from the ashes,” Kwon wrote.

New Terra blockchain

If the proposal that Kwon plans to put forth is adopted, the new chain will go live on 27 May. According to him, the new blockchain will be called Terra and have its native token as LUNA. Meanwhile, the old chain would be called Terra Classic and have its native coin as LUNC.

Under this proposal, Terra (LUNA) and Terra Classic (LUNC) will then co-exist.

In the event the community adopts the ‘rescue plan 2’, the team will airdrop LUNA across Luna Classic stakers and holders, UST holders, and essential app developers on the Classic chain.

To make the new chain fully community-owned, Kwon proposes the removal of TFL’s wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) from the airdrop whitelist. Among other plans, Terra will support staking rewards of 7% to incentivize users and help secure the blockchain.

Token supply will be capped at 1 billion, the under-fire Terraforms Labs CEO noted.

Kwon’s proposal comes a day after Binance CEO Changpeng Zhao said he was ready to offer help to Terra, only that he would prefer to see a lot more transparency and accountability from the team.

The plan also follows reports that the Luna Foundation Guard blew 80,000BTC trying to save the UST peg.

The post Do Kwon outlines fork proposal as he seeks to save Terra appeared first on Coin Journal.

Luna Foundation Guard, an organization that supports the Terra ecosystem, has confirmed through an announcement that they sold 80,081 bitcoin and other holding tokens to prevent the crash on May 8 and May 10.

The Luna Foundation Guard (LFG) had over 80K BTC and other cryptocurrencies before the de-pegging of the UST.

1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA

— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022

The organization sold Bitcoins for about 3 billion UST which currently wort nothing because Terra blockchain has been suspended.

Luna stated via Twitter:

“Beginning on May 8, when the price of UST began to drop substantially below one dollar, the Foundation began converting this reserve to UST. The Foundation did so by directly executing on-chain swaps and transferring BTC to a counterparty to enable them to enter trades with the Foundation in large size & on short notice. Directly sold 26,281,671 USDT & 23,555,590 USDC for an aggregate 50,200,071 UST· Transferred 52,189 BTC to trade with a counterparty, net of an excess of 5,313 BTC that they have returned, for an aggregate 1,515,689,462 UST. On May 10, when UST had fallen to $0.75… Sold 33,206 BTC for an aggregate 1,164,018,521 UST.”

However, Luna collapsed the day after as there were no other mechanisms or assets to stabilize the stablecoin UST.

On May 7, LFG held 80,394 Bitcoin, but when the price of $UST started to drop they started the conversion of the Bitcoin reserve to $UST. At the time of writing the reserve has been left with only 313 BTC.

The post Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash appeared first on Coin Journal.

Binance CEO Changpeng  ‘CZ’ Zhao says the leading cryptocurrency is ready to support Terraform Labs and its community’s rise from the ‘ashes’. However, he expects the team behind the LUNA and UST tokens to offer more transparency and accountability.

LUNA and UST’s collapse this past week caused ripples and attracted a lot of attention from around the crypto community and elsewhere. Among these reactions have been “falsehoods circulating in crypto twitter,” regarding what happened.

1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing.

— CZ 🔶 Binance (@cz_binance) May 15, 2022

Regarding Binance’s support for Terra, Zhao explained that his viewpoint is that “minting, forking, don’t create value.” According to him, mechanisms that allow for buying back,or burning work. However, this requires funds that Do Kwon and his Terraform Labs team may not have access to.

Binance will therefore work towards helping the team. But more needs to be done.

“In this regard, I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened,” he said.

Projects can and will fail, but…

Zhao acknowledges that failures can and will happen. Nonetheless, when such setbacks occur, it needs the team behind the project to be more transparent, act with speed and communicate. Owning up when failures happen is also vital, the Binance chief added in a Twitter thread on Sunday.

Zhao said Binance supported Terra’s first fundraising but not the second one. The leading exchange did not also acquire any TerraUSD.

“I am just hoping that the project teams can rise from the ashes and rebuild in a proper and sensible way. Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can”

Terra collapsed dramatically last week, with de-pegging of UST from the dollar sending both the stablecoin and LUNA to zero.  Binance halted and then resumed spot trading for LUNA and UST.

The post Binance to help Terra rebuild but expects more transparency, CEO ‘CZ’ says appeared first on Coin Journal.

The crypto market as a whole was mixed at the time of writing. Bitcoin is showing signs of a comeback.  

Top cryptos

It is not much as comebacks go, but it’s still something for Bitcoin. Like all major cryptos, it was hammered last week by the toxic mix of rising interest rates, geopolitical unrest, the LUNA disaster, and recessionary fears.

Bitcoin was trading around $30,000, relatively flat over the past 24 hours and roughly 16% from Friday’s $26,600 depth.  

Ether, the second biggest crypto, is changing hands at about $2,050 after dropping below $1,800 last week for the first time in two months. 

Most major altcoins were in the green on Sunday, reversing some losses as the crypto market cap tumbled by $300 billion. 

Cardano is rising in the ranks, up just under 7% and ranking seventh by market cap at the time of writing. Solana rose more than 10% at one point over the weekend and is right behind ADA with gains of almost 8% in the last 24 hours.  

Cryptos outside the top 10 were unremarkable. Crypto.com’s Cronos is showing signs of recovery. It added 3% to its value today. 

Top movers

Outside the top 20, the most notable gainers are Cosmos, NEM, and Decred, each up 11%. Cosmos is surging on news of the the launch of the Gateway to Cosmos Conference and Hackathon. 

NEM hinted at a new SuperNode program on the horizon. 

There is no specific reason for the surge of Decred, other than an affinity for highly decentralized and secure tokens. There is no way for big Decred holders to manipulate the operation of the protocol. 

Arweave is the biggest winner of the day with an increase of 16%. It is rallying because of newfound appreciation for immutable permanent storage, in part related to the situation with Terra.  

The biggest losers of the day are Kadena and Decentraland with 8% each, Kusama and Gala with 9% each, and Helium, The Graph, and Maker with 10% each. 

STEPN is second only to TerraUSD in losses today. Its token GMT, which is among the more volatile in the top 100, is down 12%.    

TerraUSD has lost another 14% in the last 24 hours. It is now trading for 16 cents. Terra founder Do Kwon announced plans to bring it back up to $1, when its peg to the USD was intact. 

Trending

The biggest winner today is the token of Ethos Project, which bills itself as the primary method of payment for audit and development services. 

The ETHOS token is incorporated into Ethos projects and holders may receive token and NFT airdrops from partner projects. 

You can stake ETHOS tokens from PancakeSwap on Ethos Farming Portal and potentially earn a reward. ETHOS token is up 1,011% in the last 24 hours.  

LUNA is the top trending coin on Coinmarketcap today, but that’s the extent of positive news. It has lost another 23% in the last 24 hours and ranks below #200 by market cap.   

The post Highlights May 16: Cryptos mixed, Bitcoin comeback expected? appeared first on Coin Journal.