Kategorie: Crypto Markets

Crypto assets were trending downward on Wednesday night, but when Russia began attacking Ukraine on Thursday morning, they took a dive even further.

US stocks went into freefall yesterday as tensions in Ukraine intensified. The SPX500 (-2.25%), DJ30 (-1.69%) and NASDAQ100 (-3.1%) all finished heavily in the red as investors fled for safe-haven assets.

The BEA will publicize preliminary GDP data for the fourth quarter of 2021 at 13:30 GMT, which may generate volatility in the markets.

Oil surged past $97 this morning as Russia began attacking Ukraine.

Top cryptos

Most coins in the top 20 lost around a tenth of their value on average. Five of the top 10 cryptos dropped by double digits over the past 24 hours: Cardano more than 15%, Avalanche 14%, Ethereum and BNB 12%, and XRP more than 11%.

Bitcoin was trading under $35,000 at time of writing, down more than 8% in the past day. Outside the top 10, Dogecoin, Polkadot, and Polygon lost more than 15%.

Top movers

The situation looks even worse outside the top 20, where the minimal loss suffered by a cryptocurrency is around 8%. Chainlink is down by more than 17% and Fantom, The Graph, Gala, and Elrond each lost 18%.

VeChain and AAVE have lost almost 17%. Theta Network, Harmony, Enjin Coin, Curve DAO Token, and Loopring each shed 19% of their value on news that Putin declared war on Ukraine.

PancakeSwap’s losses are just under 18%. Kadena has lost between 19-20% and Mina is down 20%. The biggest loser is Convex Finance, which shed almost a quarter of its value.

Trending

Unifty provides Contracts-as-a-Service solutions to enable digital artists and collectible issuers to create their own contracts for different purposes without coding knowledge. The token added 82% to its value in the last 24 hours.

Amid the gloom and doom, ACCEL is rallying on news of a Binance listing scheduled for today. The token has gained more than 18% in the last 24 hours. It is a multi-utility asset that claims to bring several real-world utilities to the crypto space.

  

The post Market highlights February 24: Five of the top 10 cryptos dropped by double digits appeared first on Coin Journal.

The live ACCEL price today is $0.05 with a 24-hour trading volume of just over a million. It’s rallying on news of a Binance listing to take place today, gaining 18.32% in the last 24 hours. If you are attracted to unique features and want to learn how and where to buy ACCEL, this guide is for you.

Top places to buy ACCEL now

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

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

What is ACCEL?

ACCEL is a multi-utility token that brings several real-world utilities to the crypto space including an escrow payment application, a decentralized exchange trading application, and P2E game development.

In addition, ACCEL’s Launchpad offers developers a safe and effective place to launch their own projects from while utilizing ACCEL’s safe, in-house developed smart contracts.

ACCEL is creating the first ever DAO-based educational crypto community: ACCEL University. ACCEL University is a database and community that offers investors resources and tools to support their crypto experience.

Should I buy ACCEL today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.

ACCEL price prediction

Analysts Price Prediction are bullish on this token. They predict it will trade for at least $0.088 next year, but it could go up to $0.10.

In 2024, the price of ACCEL will be at a minimum of $0.13 and a maximum of $0.15. The price of 1 ACCEL is expected to reach at least $0.19 in 2025.

ACCEL on social media

🚀#BKEX Spot Top 3 Gainers

Time: 10:30 02/16 (UTC+8)

🏆 #WGMI @wgmi4thepeople
👇Trade it now?https://t.co/COkLir5Oh5

🥈 #ACCEL 🥉 #CULT

Registration link: https://t.co/6Nla92IuiH pic.twitter.com/87BahWj6Gv

— BKEX (@BKEXGlobal) February 16, 2022

The post ACCEL is up 18% in 24 hours: here’s where to buy ACCEL today appeared first on Coin Journal.

Once again, the price of Terra (LUNA) is has soared past $55 as it attempts to regain a bullish trend.

At the time of writing, it was trading at $61.56 up 13.18% in the last 24 hours and it has hit a daily high of $63.99 and a daily low of $52.71.

Why Terra (LUNA) is surging?

One of the main reasons for Terra (LUNA) price surge is the recent raising of $1 billion by Luna Foundation Guard (LFG) through an over-the-counter sale of LUNA to form a UST reserve in Bitcoin.

For a background, LFG is a non-profit organization that was launched in early January 2022 to facilitate Terra ecosystem growth.

Some of the participants of the LUNA sale include the Three Arrows Capital, Jump Crypto, DeFiance, Tribe Capital, GSR, and Republic Capital among others.

Claims are that LFG chose Bitcoin-dominated Forex Reserve because it is less correlated to the Terra ecosystem.

How the UST reserve works

Terra native stablecoin UST is a popular algorithmic stablecoin in the DeFi ecosystems that does not use collateral to maintain its price and is the first of its kind and it has a market capitalization of more than $22 billion.

According to Terra:

“When the demand for Terra is high and the supply is limited, the price of Terra increases. When the demand for Terra is low and the supply is too large, the price of Terra decreases. The protocol ensures the supply and demand of Terra are always balanced, leading to a stable price.”

New Terra-based stablecoins can be minted by burning LUNA tokens or burning UST to mint LUNA. But the challenge is the hypothetical risk of a ‘bank run’ Scenario and its reflexive nature.

Concerning the choice of Bitcoin as a reserve asset, LFG said:

“Although the widespread adoption of UST as a consistently stable asset through market volatility should already refute this, a decentralized Reserve can provide an additional avenue to maintain the peg in contractionary cycles that reduces the reflexivity of the system.”

The post Why has Terra (LUNA) jumped 13% today? appeared first on Coin Journal.

Bware Labs, a startup creating a platform for decentralized API infrastructure, connecting blockchain data consumers to nodes supplied by independent providers, has raised a total of $7 million after a $6 million follow-up funding round, Coin Journal learned from a press release. 

Investors include Infinity Ventures Crypto, Woodstock, Hypersphere Ventures, Blizzard, Figment, Axia8, Kosmos Ventures, Impossible Finance, Coingecko Ventures, Connext, and others. 

Among those in the previous round were GBV, Spartan Group, and Morningstar Ventures, who also took part in the recent one. 

Eliminating reliance on centralized node operators

Bware Labs aims to resolve a common issue: today, most infrastructure relies on centralized node operators to interact with the blockchain. There are such services on major blockchains, such as Infura on Ethereum (ETH/USD), a traditional company accepting payment in fiat.

Performance and reliability without compromise

Bware Labs also aims to solve problems with unreliable blockchain access. Its end goal is to ensure reliability and performance without compromise, exceeding the standards set by its centralized competitors.

In a first for the industry, node providers will be incentivised by being allowed to stake BWR tokens for rewards and getting a share of the platform revenues.

Viable data streams via RPC, WebSocket

Users will avail of high quality service via geographical node distribution, which will ensure viable data streams via RPC, WebSocket, or traditional HTTP REST protocols depending on the chain supported.

Flavian Manea, CEO of Bware Labs commented:

We are very excited to have finalized this investment round, for two main reasons: One is about the strength we brought into our team, by onboarding experienced investors, from both crypto and traditional finance, big tech projects and fellow infrastructure players. The other reason is related to our company’s growth and the expansion of our tech offering which can now happen at an accelerated pace due to the financing we were able to secure and the support of our investors.

Brian Weaver, Engineering Manager at Hypersphere added:

Hypersphere is excited to partner with Bware Labs on this opportunity. The team’s expertise and vision will enable builders to focus on developing multi-chain applications while eliminating much of the costly infrastructure overhead. Bware has built a strong team of experts who are capable of meeting the requirements of today’s projects while simultaneously scaling to meet the needs of future chains and customers.

Lydia Chiu, Vice President of Business Development at Ava (AVAX/USD) Labs said on behalf of Blizzard:

Bware Labs is playing a key role in expanding and hardening the infrastructure available to builders across the Avalanche community. We look forward to seeing its team and technology take the next leap forward.

The post Bware Labs raises $7M in funding appeared first on Coin Journal.

• Terra announced it had raised $1 billion from Jump Crypto and Three Arrows Capital, with the funds set to go into a Bitcoin reserve for the network’s largest stablecoin TerraUSD (UST).
• LUNA price jumped over 14% to break above $60 after the news.
• Bitcoin was trading near $39,000 after a 4% upside, with bulls looking to strengthen above the key support at $38k.

LUNA, the native token on decentralised proof of stake (PoS) blockchain platform Terra, has soared more than 14% in the past 24 hours, amid a broader bounce in the crypto market.

Terra’s impressive rebound briefly pushed the coin’s value against the US dollar above $60 on Wednesday morning.

According to data from CoinGecko, the LUNA/USD pair is currently hugging the supply barrier, with momentum likely to push the token to highs last seen in January.

$1 billion for a BTC reserve

On Tuesday, the Luna Foundation Guard (LFG) announced it had successfully raised $1 billion in one of the crypto industry’s largest sales.  The platform said the funds are going to into a Bitcoin-denominated reserve for its stablecoin  TerraUSD (UST).

1/ The long awaited [REDACTED] 💎3 is here!

📣 The Luna Foundation Guard (LFG) has closed a $1 billion private token sale to establish a decentralized $UST Forex Reserve denominated in $BTC! 📣

🧵👇

— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) February 22, 2022

UST is a $12 billion market cap stablecoin, and the reserve funds are set to help ensure the 1:1 dollar peg is fully accounted for in ready funds.

According to LFG, the reserve provides for an extra layer of ensuring the dollar peg does not deviate so much during “contractionary cycles.”

“The UST Forex Reserve is an LFG initiative to provide a further layer of support for the UST peg using assets that are considered less correlated to the Terra ecosystem, like Bitcoin,” LFG wrote.

The decentralised Forex reserve for the stablecoin received investment backing from Jump Crypto and Three Arrows Capital among other top venture capital investors.

LUNA’s price has shot up in the past 24 hours due to the news. LUNA/USD currently changes hands near $59.97.

Elsewhere, Bitcoin price was up 4% at the time of writing to see the top cryptocurrency by market cap hover above $39,000. he BTC/USD pair had dipped below $37,000 on Tuesday as the Russia-Ukraine conflict spooked markets.

The post LUNA soars as Terra secures $1 billion for a Bitcoin-denominated UST reserve appeared first on Coin Journal.