Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Aave launches V3 of its DeFi protocol, expands to six blockchains

Aave V3 sees the leading DeFi lender expand beyond Avalanche, Ethereum, and Polygon.

Aave, one of the leading decentralized finance (DeFi) platforms in the market, has announced V3 of its protocol.

The third version sees Aave expand its liquidity pool to six other blockchains, the platform said in a release.

As per the announcement, V3 going live allows access to the lending protocol’s features to Avalanche, Polygon, Fantom, Optimism, Harmony and Arbitrium. Other than these six blockchains, Aave is set to deploy the latest iteration of its protocol to the Ethereum mainnet.

„Aave V3 is the result of continuous iteration resulting from community involvement and ecosystem growth,“ said Stani Kulechov, founder and CEO of Aave Companies. 

On what next for the DeFi protocol, Kulechov added:

“V3 brings new and existing Aave community members to participate in the Aave DAO, which will continue to shape the future of DeFi.”

What’s new with Aave V3?

According to Aave, “V3 brings groundbreaking new features that span from increased capital efficiency to enhanced decentralisation.”

Among the new features, Aave users will benefit from enhanced cross-chain asset flow and a 20-25% reduction in transaction costs via gas optimisation. An “isolation mode” will enhance security, while high efficiency will unlock the user’s ability to access even higher borrowing.

Compatibility with different blockchains means DeFi investors on the protocol can seamlessly deposit and borrow assets from one network to another.

For example, a user could deposit on the Polygon chain and proceed to borrow on the Avalanche network. If they wish, they could repay the loan on another blockchain, say Ethereum.

“Along with the launch of V3, there’s also a fully redesigned & refreshed Aave app on IPFS where users will be able to access simplified transaction flows, enjoy faster load times, & gain enhanced visibility into their holdings,” the platform said in the announcement.

Users can also access Aave V3 via multiple wallet integrations, including Instadapp, 1inch, DeFiSaver and ParaSwap.

The post Aave launches V3 of its DeFi protocol, expands to six blockchains appeared first on Coin Journal.

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The Sandbox metaverse token SAND jumps 10% on Paris Hilton and HSBC bank partnership news

The Sandbox, a gaming platform launched on the Ethereum blockchain to leverage non-fungible tokens (NFTs) and cryptocurrencies, has become the center of attraction for big brands venturing into the metaverse.

As a result, the price of its native token, SAND, has started rising again. Today, for example, saw the price of SAND jump 10% to trade at $2.97 after the HSDC bank and American celebrity Paris Hilton choose The Sandbox for their metaverse debut.

However, SAND still remains 65% below the all-time high it set in November 2021.

HSBC partnership with The Sandbox

This morning, HSBC, Europe’s second-largest bank, announced its new partnership with The Sandbox platform.

HSBC aims to buy some virtual plots of LAND on The Sandbox that can be used by the bank’s customers to create gaming activities and build different esports.

In a prepared statement HSBC’s Asia-Pacific branch chief marketing officer Suresh Balaji said:

„Through our partnership with The Sandbox, we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers…. We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive, and accessible.“

Animoca Brands Company has been the one behind the success of The Sandbox and has invested a lot in gaming and cryptos. The main difference between The Sandbox and the other popular platforms like Minecraft or Roblox is that in The Sandbox, players can customize the platform designs, avatars, and objects, and virtual land plots can also be bought or sold.

Paris Hilton featured on The Sandbox SXSW concert

On Tuesday night, Paris Hilton, an American celebrity, also initiated her partnership with The Sandbox in this year’s SXSW festival concert that was held virtually by The Sandbox.

In a press release she said:

„I am a huge believer in the metaverse and the way web3 technologies are empowering creators, gamers, and artists…It’s such an important movement and community that I’m proud to be a part of. I can’t wait for people to see what amazing experiences The Sandbox and I bring together to the metaverse.“

The rising metaverse adoption among corporations

The rising popularity of metaverse within the virtual world has attracted major corporations.  A good example is Facebook which was rebranded to Meta by the Zuckerberg social media empire with the desire to own metaverse.

Other brands like Red Bull, Walmart, Nike, McDonald’s are also filling trademarks with terms like ‘NFTs’ and ‘cryptocurrencies’ for use in virtual worlds, where their metaverse is likely to be tokenized.

We have also seen major celebrities and companies venture into the metaverse either by creating virtual headquarters or minting and selling NFTs.

The post The Sandbox metaverse token SAND jumps 10% on Paris Hilton and HSBC bank partnership news appeared first on Coin Journal.

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Highlights March 16: Cryptos in the green, US markets higher

The crypto markets were mostly higher this morning, with the majority of the top 10 cryptos registering gains over the past 24 hours. 

US stocks bounced back yesterday, with beaten-down tech firms leading the way. Investors will be closely following a few major releases coming out of the US today.

At 12:30 GMT, the Census Bureau will announce retail and core retail sales. At 18:00 GMT, the Federal Reserve will release its FOMC Economic Projections, FOMC Statement and Federal Funds Rate, followed by FOMC press conference at 18:30.

Top cryptos

Bitcoin climbed around 1%, trading above $39,000 at time of writing. Ethereum was up around 3%, and Cardano saw small gains while XRP recorded small losses.

Top movers

The Graph added 17% to its value. Its price has been rebounding recently, which may be due to the ongoing migration to its platform. Graph developers note that many Ethereum builders are embracing its network.

1inch has broken through the resistance line. The 99th biggest coin gained 16% today.  

Waves gained another 15%. With the unceasing support of the global community, the cryptocurrency created by Ukrainian-born Alexander Ivanov reached 39th position by market cap size. It’s currently trading for around $29.

eToro has listed Theta and Fantom. Fantom is up 16% today, but Theta Network’s gains are more moderate.  

Other winners include BAT (+11%), Chainlink, AAVE, and SAND (each +9%), UniSwap (+8%), and Elrond (10%).  

The ThorChain price bounced back a few days ago after the developers launched a series of new features, including synthetic assets, the THORFi platform, and more. RUNE, its native token, was trading at $7 yesterday, which is about 126% above the lowest level this year. 

Despite the current jump, the coin is in a bearish trend, which is expected to continue in the coming days. It has lost 12% of its value in the last 24 h.

Trending

The native token of COVID Cutter (CVC), the first ever themed play-to-earn, Web3.0 and blockchain-enabled game project, gained 709% today.

The post Highlights March 16: Cryptos in the green, US markets higher appeared first on Coin Journal.

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POLS down 33%, time to buy the dip? Top places to buy POLS

After a recent surge of more than 100%, the token of Polkastarter, POLS, has begun to decline rapidly. Today, it has lost a third of its value. However, technical indicators show it might be facing a bull run.

Look no further than this short article to find out what POLS is, if it’s worth buying the dip, and the best places to buy POLS.  

Top places to buy POLS now

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

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

What is POLS?

POLS is the native utility token of the Polkastarter platform and plays a number of roles in its ecosystem, being used for liquidity mining, governance, paying transaction fees, and gaining eligibility to participate in POLS-holder only pools.

Polkastarter is a blockchain platform designed to provide an easy to use launchpad for cross-chain token pools and auctions. It is most commonly used by early-stage blockchain projects that want to raise capital and easily distribute their tokens at the same time.

Through Polkastarter, blockchain projects can easily create their own cross-chain swap pools, which allow them to securely raise funds, while users can invest without risks, since swaps are automatically executed by smart contracts.

Should I buy POLS today?

POLS 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.

POLS price prediction

GOV Capital remains bullish on POLS despite the current price developments. They predict it will trade for more than $7 in a year and for $47.6 in 5 years.   

POLS on social media

The post POLS down 33%, time to buy the dip? Top places to buy POLS appeared first on Coin Journal.

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Why has BSC’s RingFi auto-staking token RING jumped over 202% today

RingFi’s coin, RING, has shaken the crypto market by rallying over 202% in the last 24 hours as the rally continues.

At the time of writing, RING was trading at $13.45, up 202.44% in the last 24 hours. It has hit a daily high of $13.84 while its daily low is $3.48.

RingFi’s trading volume in the last 24 hours is $935,504. Its market cap and circulating supply are yet to be provided.

In this article, we shall shed some light at behind the scenes causing RingFi’s RING coin price to skyrocket today.

What Is RingFi?

Before delving into why the coin is rising, it is important that we first explain what RingFi is.

In a nutshell, RingFi is a decentralized finance (DeFi) protocol built on the BSC network. It allows token holders to earn yield farm in the easiest way possible. Its native token is denoted as RING.

The RING token is powered by rebasing, where its circulating supply is adjusted with respect to the token price, rewarding users with 0.02362% every 15 minutes.

It is important to note that Rebasing sometimes can affect the look of the token on the chart.

Why is the price of the RING coin soaring?

One of the main reasons why RingFi price soared to the moon today is its recent listing on CoinMarketCap.

The other possible reason that could also be contributing to the price jump is the various YouTube videos that have been published in quick succession concerning the RingFi project. The videos have certainly attracted the attention of investors thus contributing to a rise in its trading volume as investors rash to trade and acquire the RING coin.

Currently, RingFi has more than $275k in liquidity on PancakeSwap.

The post Why has BSC’s RingFi auto-staking token RING jumped over 202% today appeared first on Coin Journal.