Kategorie: Crypto Markets

The Solana native crypto (SOL) has continued to nosedive as its blockchain continues to face major network congestion issues. Today it has dipped another 17.79% amid congestion issues over the weekend.

SOL is currently trading at $84.03 with a trading volume of $3.4 billion.

According to the current trend where all the major cryptocurrencies are going red, things might get worse for Solana if the congestion issues keep on cropping up.

What is Solana (SOL)?

Solana is a decentralized open-source project that depends on Blockchain technology to provide solutions for Decentralized finance (DeFi) and SOL is its native token.

The SOL token has been dropped greatly amid the current bloodbath of major cryptocurrencies like Bitcoin and Ethereum.

The sharp drop in Solana price

During this huge crypto market rout, Solana seems to be in the lead after experiencing 48 hours of network instability over the weekend, to an extent of disappointing the traders and investors. However, the Engineers posted a notice on the Solana website on Saturday, 22 January 2022 stating:

‘’Solana mainnet beta is experiencing high levels of network congestion. The last 24 hours have shown these systems need to be improved to meet the demands of users and support the more complex transactions now common on the network.’’

However, after working on the systems over the weekend, today the systems are in full operation. According to a comment on their website, the Solana team thanked the panel that helped to debug the network issues and also the Solana lab team who didn’t sleep for 48 hours.

This frequent network outage has highly contributed to the current bearish situation and resulted to trust issues among investors. Traders no longer trust the platform; something that has given its Ehereum Layer-1 competitors like BSC and Fantom an upper hand.

Mark Jeffrey, Boolean Fund founder, and Crypto investor, said:

 ‘’Another day, another 48-hour Solana outage. This is like the sixth time this has happened in 3 months. I have zero faith in it now. It is the new EOS. The fight is now between ETH, BSC, Fantom, Avalanche, and Terra.’’

Solana to up its game as traders goes for alternatives

In the midst of all this, questions are arising as to whether Solana the Ethereum competitor in terms of DeFi TVL has 50%. Current data shows that DeFi traders are going for those platforms with low fees; for example Avalanche, Fantom, Terra, and many more.

Fantom is currently the second largest network in terms of DeFi TVL after Ethereum as Solana slips to the sixth position with $7.7 billion DeFi TVL according to DeFiLlama.

The post Solana (SOL) dips 17% after another 48 hours of congestion issues appeared first on Coin Journal.

Aelf is an open-source blockchain network designed as a complete business solution. Its token ELF is currently trading for $0.34 and has gained 8.37% today on news of the Top of Oasis hackathon.

Look no farther than this quick guide for all the details surrounding Aelf: what it is, can it be a valuable investment, and the best places to buy Aefl now.  

Top places to buy AELF now

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

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

What is AELF?

Aelf’s unique structure of ‘one main-chain + multiple side-chains’ can support developers to independently deploy or run DApps on individual side-chains to achieve resource isolation.

Its technology uses parallel processing and the AEDPoS consensus mechanism. Based on the cross-chain technology of the main-chain index and verification mechanisms, Aelf achieves secure communication between the main-chain and all side-chains.

It meets the governance needs of varying applications by providing different models. Through the incentive model, the network is equipped with a self-sustainable system and can self-develop.

Simultaneously, developers can debug, develop and deploy applications based on the mature IDE that the network provides.

Aelf has also launched Aelf Enterprise, an enterprise-level integrated blockchain solution meeting the requirements in different business scenarios.

Should I buy AELF today?

Aelf can be a profitable investment if its price keeps rising, for which there is no guarantee. Take all investment advice with a grain of salt.   

AELF price prediction

According to Digital Coin analysis, the price of Aelf will reach $2 in five years. It will go up to $0.72 by 2023, then decline slightly before it continues its ascent. Based on this forecast, Aelf can be a profitable long-term investment.

AELF on social media

For this day, the Biggest riser coin is AELF, its rise up 7.41 %. Get 25% cashback on trading fees at OMGFIN for all AELF Trading pairs.@coingecko @CoinMarketCap #aelf #elf #defi pic.twitter.com/eoYmFeGT7m

— Omgfin (@omgfin) January 24, 2022

The post Best places to buy AELF, the complete business solution token appeared first on Coin Journal.

Crypto stocks tumbled on Friday as risk-off sentiment swept through the markets.

While US markets were recording a fifth straight negative session of the week, cryptocurrencies were bleeding heavily as bulls got battered.

Bitcoin price declined below a critical support level, with an analyst suggesting the drawdown could see the pioneer crypto slump to lows of $30,000. On Saturday 22 January, Bitcoin price broke below $35,000 and was on track for more than 12% in intraday declines and close to 20% over the week.

Crypto stocks like Coinbase, Voyager Digital and Marathon slumped Friday, with MicroStrategy also seeing a major dip.

Riot Blockchain shares plunge 15%

Riot Blockchain (RIOT) shares retreated heavily on Friday, dropping more than 14% to close at $15.00. Over the week, RIOT has declined 24% and is down more than 33% YTD.

Despite the rout seen over the past month, shares of the Bitcoin miner are still up nearly 400% in the past three years. Revenue has also increased twofold in each of the last three years to suggest the company is on a strong footing.

Elsewhere, Coinbase (COIN) slipped 13% to $191.97, while Robinhood (HOOD) fell 5.2% to $12.98. Coinbase shares have declined

Robinhood’s shares are nearly 30% down year-to-date and close to 60% off its IPO price of $38 in July.

Voyager Digital Ltd shares fell to a 52-week low of $9.95 before recouping some of the losses to close at $10.12, about 15% lower.

Other publicly traded crypto-centric companies to see huge declines on Friday were Hive Blockchain (HIVE) at -16%; Marathon Digital Holdings (MARA) at -11%; Hut 8 Mining (HUT) at -13% and Bitfarms (BITF) at -14%.

MicroStrategy (MSTR) slides 20%

MicroStrategy Inc. shares fell over 20% on Friday to record the stock’s worst single-day performance since 23 February 2020. After opening at $422.84, the stock fell to $365.98 to touch a 52-week low before closing at $375.89 for an 18% downturn.

On a weekly view, MicroStrategy has declined 22%, while year-to-date returns stand around 33% lower.

While the decline for the enterprise software maker’s stock follows the broader market trend, it also comes after documents showed the US Securities and Exchange Commission (SEC) had rejected the company’s crypto accounting strategy.

Last week, MicroStrategy CEO Michael Saylor said that the company would not be selling its Bitcoin haul even if prices continued to crash.

The post Crypto-centric stocks plummet as Bitcoin falls below $35K appeared first on Coin Journal.

Stash chief executive Brandon Krieg was speaking to CNBC on Friday, a day after the fintech unveiled a new crypto investing app.

Stash CEO Brandon Krieg says the current declines across the crypto markets provide for an opportunity for retail investors to buy the dip.

According to Krieg, this is the time when those looking to get crypto exposure can look to buy one of the coins and hold long term.

In an interview with CNBC’s ‘Squawk Box’,’ he said Stash does not engage in day trading, and so does not advise on price movements. He noted that “nobody has the crystal ball” to tell what the market will be like short-term or even five, ten years from now.

However, as an investing firm that allows small investors to make incremental purchases of assets, he feels that the crypto winter offers a “perfect time” for anyone ready to make a long-term bet.

„For crypto exposure for our customers, we think it’s the perfect time for retail investors to start getting exposure to some cryptocurrency,“ Krieg told CNBC.

Stash announced a fully automated crypto investing app on Thursday, revealing a “Smart Portfolio” for a 4%-6% exposure. This exposure is however based on a customer’s risk profile, he added.

Commenting on whether at current prices major cryptocurrencies like Bitcoin and Ethereum were still a buy, Krieg affirmed. He added that Stash believes in the long-term outlook for these assets and that they forecast a rebound even as BTC and ETH correct heavily.

He also noted that the small investments approach Stash has adopted is beneficial, especially to people new to crypto and who don’t understand the market very well. He said the app is therefore tailored to give such investors a “simple and easy way” to get a piece of the cryptocurrency investment pie.

Stash has over 6 million customers and 2.3 million subscribers. Women make up 49% of new customers. The US-based firm has over $3 billion in assets under management (AUM). A private valuation for the company put it at $1.4 billion in February 2021.

Bitcoin price dropped sharply on Friday to touch lows of $37,800 and continue the bearish run that has seen it lose over 40% since the breakdown from the all-time high of $69,000. The sell-off is likely to deepen given the correlation with stocks.

On Friday, the Nasdaq opened lower after global stock markets shrunk, with the index down nearly 6% on the weekly log and tracking its worst performance since October 2020.

The post Now is perfect time for retail investors to gain crypto exposure, says Stash CEO appeared first on Coin Journal.

The crypto market remained on its overall lower trajectory over the past 24 hours, as most major cryptos registered steep declines. Overall, the crypto market has lost more than $140 billion since yesterday.

Markets were lower yesterday: The SPX500 fell 1.06%, the DJ30 was down 0.89% and the NASDAQ100 dropped 1.53%.

Shares in streaming giant Netflix fell 1.48% because it missed subscriber growth forecasts as part of its earnings report.

Top cryptos

Bitcoin was down more than 7%, falling below $40,000. Several top 10 cryptos registered losses of more than 9%, including Ethereum, BNB, Cardano, and Solana.

Top movers

In the top 100, most coins lost between 7 and 9%. Notable standouts were Chainlink and Algorand (both -12%) and NEAR Protocol (-13%), all of which fell out of the top 20.

Secret lost 17%, Yearn Finance and Loopring lost 15%, Theta Network lost 11%, metaverse token SAND lost 12%, and Harmony lost 13%.

UNUS SED LEO, a utility token that’s used across the iFinex ecosystem, is today’s only winner. It gained 3% in the last 24 h.  

Trending

The price of Project X Nodes token PXT is up 529% today. The network was created by the 100 Founders, who want to grow a massively successful node type project.

The purpose of the network is to build, nurture, and operate a sustainable passive income cryptocurrency with an inclusive and ethical community of global supporters. Once a node is created, passive income generation begins.

The live SUKU price today is $0.57 with a 24-hour trading volume of $65.6 million. SUKU is up 57% in the last 24 hours.

Beta Finance is a permissionless money market on Ethereum for borrowing, lending and shorting crypto assets, which is becoming more and more popular. It gained 28% today.  

The post Market highlights January 21: Bearish trend continues in crypto markets appeared first on Coin Journal.