Kategorie: Crypto Markets

GMT’s value has been rising steadily since the beginning of March 2022, when it was listed on Binance. The token is skyrocketing on a teaser of a mysterious, but major upcoming partnership between STEPN and an unknown entity, believed to be Binance.

The coin currently ranks at #81 by market cap. If you are attracted to unique features and want to learn how and where to buy GMT, this guide is for you.

Top places to buy GMT now

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy GMT with Binance today

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 GMT with KuCoin today

What is GMT?

GMT (Green Metaverse Token) is the governance token of STEPN. Its supply is capped at 6 billion tokens. STEPN is a Web3 lifestyle app with gamification design and fun social elements.

Players who have NFT Sneakers can walk, jog or run outdoors to earn tokens, which they can then use to mint new sneakers.

Players buy GMT and burn them in the app to upgrade high-quality gems, mint cool sneakers, and take part in governance voting among other features.

They can choose to sell or lease their NFT sneakers on the in-app marketplace. They store the funds accumulated in the in-app wallet, which features an inbuilt exchange function.

Should I buy GMT today?

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

GMT price prediction

Digital Coin Price makes the following bullish prediction:

• 2022: From $2.50 to $2.83
• 2023: From $2.68 to $3.31
• 2024: From $2.48 to $3.69

GMT on social media

Last target reached, Incredible.
Just sold 50% of my remaining $GMT
My faith in #STEPN has no limit. Watch out, not a moment to invest in, be patient and take your time to make your move.GMT still has no in-game feature, and volatility is moved by speculation. @Stepnofficial pic.twitter.com/rIn4J79O0W

— Krit (@Krit_STEPN) March 30, 2022

The post GMT‘s value almost doubled in 24 hours: here’s where to buy GMT appeared first on Coin Journal.

Terra plans to buy and hold up to $10 billion worth of Bitcoin, a massive haul of the flagship cryptocurrency that Terraform Labs says will be used to back the stablecoin TerraUSD (UST).

Instead of Terra holding cash reserves and other cash equivalents, it plans to hold enough BTC to back all the UST in circulation.

That, essentially, is the main script around Terra’s plan to purchase BTC worth up to $10 billion. CNBC ran a commentary on Terra early Tuesday.

Terra’s UST plans add to Bitcoin demand

On Monday, Terraform Labs founder and CEO Do Kwon revealed that the company had bought $135 million worth of BTC, bringing its Bitcoin purchases for 2022 to $1 billion. 

In an earlier comment on the move to buy as much Bitcoin, Kwon said:

“UST with $10B+ in BTC reserves will open a new monetary era of the Bitcoin standard. P2P electronic cash that is easier to spend and more attractive to hold Bitcoin”

UST, like other stablecoins, is pegged 1:1 to the US dollar and has its value relatively stable even as markets experience huge volatility. However, this stablecoin wants to switch from being a decentralised, algorithmic currency backed by cash reserves and other equivalents, to one backed by Bitcoin.

And indeed one of the narratives that have pushed Bitcoin higher these past few days has been an aggressive accumulation by whales. Bitcoin jumped to highs above $48,000 on Monday, bringing its 30-day gains to over 20% and pushing its value into positive territory year-to-date.

Terra’s LUNA also gained big, breaking from around $90 this past week to hit highs above $106. Meanwhile, UST’s market cap rose to over $16 billion to make it the 14th largest crypto project.

Regulatory attention?

A CNBC report on Terra’s big bet on Bitcoin and UST says some analysts are warning this “might not sit well” with US regulators. This is because regulators have previously raised concerns over stablecoins and their potential to pose risks to the financial system.

And while Treasury secretary Janet Yellen recently said the US would look to provide a regulatory framework that aids crypto innovation, concerns about stablecoins remain.

In 2021, the SEC subpoenaed Terraform Labs and CEO Do Kwon, amid allegations of violations of US law. Kwon sued the SEC back and earlier this year, a US court ordered Terra to comply with the subpoenas.

Could UST attract more attention now? Possibly, according to analysts cited by CNBC, with any likely developments coming even as lawmakers look to hasten the development of a digital dollar.

The post Terra to buy $10 billion worth of Bitcoin to back UST stablecoin appeared first on Coin Journal.

Compound (COMP) price has surged 10% today at a time when the majority of cryptocurrencies are bullish with the likes of Bitcoin reaching three months high.

At the time of writing, Compound was trading at $143.91 up 10.19% after a slight pullback from a daily high of $148.10.

But why is the coin price skyrocketing? This article focuses on the factors behind the current Compound rally.

What is Compound (COMP)?

In a nutshell, Compound (COMP), is the native token of Compound, a DeFi lending protocol where users can get crypto loans or earn interest by offering their crypto assets to the platform for it to lend them out to others.

Why is Compound price rising?

The two main factors being attributed to the current surge in the price of Compound coin are the recent protocol upgrade announcement and the community’s response to the announcement.

• Announcement on protocol upgrade

After realizing that its reward distribution program has a negative effect on the COMP price, the platform has come up with a protocol upgrade that will help in the growth of the protocol instead of selling off the rewards without necessarily benefitting the existing token holders and users.

The new program kicked off by reducing the existing rewards by half and it will also probably end COMP farming though depending on how the community votes.

@compoundfinance Proposal 92: COMP Rewards Adjustments – Kickstart Rewards: Step One

This proposal is the first step towards launching the new rewards program – existing rewards are being cut by 50%.https://t.co/bQdxqskr7g

— tylerether.eth (@tylerether) March 18, 2022

• Community to embrace the new proposal

The community seems to embrace the new proposal with a majority saying that the 50% cut-off will reduce the rampant inflations that have been experienced in the network before.

There was actually a rush by investors to purchase more tokens since the majority believe that the upgrade will lead to a price hike.

The post Why has Compound (COMP) price jumped by more than 10% today? appeared first on Coin Journal.

WAVES token has shaken the entire crypto market by rallying over 60% in the last 24 hours. Its latest price surge has made it become the 32nd largest cryptocurrency by market cap surpassing Axie infinity (AXS) and Decentraland (MANA).

At the time of writing, WAVE is trading at $52.44, up 63.13% after hitting a high of $53.81 from a low of $32.12 in the last 24 hours. Additionally, WAVES rose from around $8.9 to above $50 in just seven days.

This article focuses on the forces behind the current surge in WAVES’ price.

Why is WAVES price rising?

Before getting into what is behind the price surge, it is important to first explain what WAVES is.

In a nutshell, WAVES is the native token of the Waves blockchain, which is a multipurpose blockchain platform that enables the use of smart contracts and the development of decentralized applications (DApps).

The main reason why the WAVES price is rallying is the recent launch of Waves Labs in the United States and news that it plans to hire experts.

• Launching of Waves Labs in the U.S

In February, Waves had announced that it will be launching a new venture, Waves Labs, as its next step for the year 2022.

In a press release, the company said that Waves Lab will represent the blockchain in the United States. It will mainly focus on supporting new projects and raising funds on the blockchain

• Hiring experts

According to verifiable reports, Waves have hired a senior leadership team with some fintech and crypto veterans like Sasha Ivanov, founder of Waves protocol, serving as the firm advisor.

Moreover, the firm is working on establishing decentralized governance that will improve its integration with other blockchains.

Waves‘ current bullish trend shows that there is a growing interest in altcoins including Solana (SOL) Terra (LUNA), and Cardano (ADA).

The post Why did WAVES price rise by 60% today? appeared first on Coin Journal.

The crypto market as a whole is in the green with the majority of top 10 cryptos registering gains over the past 24 hours. 

US indices closed higher yesterday, with tech firms and meme stocks shining. The UK100 (-0.04%) edged lower as hopes of a breakthrough in the Russia-Ukraine peace talks faded.

Tesla Motors stock gained 8% after the carmaker revealed plans to split its stock for the second time in less than two years.  

Top cryptos

After a brief plateau, Terra is surging again, up 9% at the time of writing. Bitcoin registered small gains, trading above $47,000 at time of writing. Other cryptos went on to register some gains, including Ethereum, up around 2%, and Cardano and XRP, climbing 2% and 1%, respectively.

Almost three billion SHIB has been burned over the past week, while around half a billion was burned in 24 hours. Shiba Inu gained 5% so far today.

Top movers

Waves Labs is opening headquarters in Miami after announcing an ecosystem transformation plan in February 2022. The Waves cryptocurrency, which broke the top 50 and is now the 32nd by market cap, has gained 64% on the news.

THORSwap announced $470 million in trading volume for March with around 900% growth. THORChain gained 14% on the news. Loopring added 11%. An upcoming NFT drop is one reason.

Compound jumped approximately 14%. At the other end, Zilliqa lost 11%, reversing its spectacular recent gains over the past several days.

Trending

A new cryptocurrency inspired by Will Smith slapping Chris Rock at the Oscars, Will Smith Inu, started trading on UniSwap and PancakeSwap soon after the event. It gained 10,000% in less than 24 h. 

At the time of writing, it was trading for $0.0000000123 and had gained 38% according to Nomics data.

The post Highlights: Crypto market bullish, tech stocks push Wall Street up appeared first on Coin Journal.