Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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MicroStrategy isn’t in the business of selling Bitcoin even if prices crash, says CEO Michael Saylor

  • MicroStrategy CEO says the company’s strategy is to buy and hold Bitcoin, not sell.

  • The company has over $5 billion worth of BTC.

The CEO of MicroStrategy Michael Saylor says that the business intelligence firm, and one of the biggest holders of Bitcoin, has no plans to sell its holdings.

Not even when the cryptocurrency space continues to face headwinds in 2022 following a stellar 2021 that saw most crypto assets hit new all-time highs.

Bitcoin price raced to a peak of $69,000 in November last year, with the flagship cryptocurrency outpacing the S&P 500 for the fourth year in a row. However, the price has fallen significantly over the past two months. In the past 30 days, BTC’s price has declined 13%. 

After closing 2021 with over 70% in gains, the correction has seen gains over the past year cut to just 14%.

Asked if the crypto winter is something that worries him personally, Saylor noted:

“If you are going to invest in Bitcoin, a short time horizon is four years, a mid time horizon is ten years, [and]the right time horizon is forever.”

He told Bloomberg that his company isn’t in the business of selling, and when asked what happens if prices tank further, the MicroStrategy chief responded:

„We’re not sellers. We’re only acquiring and holding Bitcoin. That’s our strategy,“

During the interview, Saylor noted that price declines across crypto don’t worry him at all. He also expressed confidence in Bitcoin as an inflation hedge.

According to him, the cryptocurrency offers “the best defense against inflation” and nothing currently beats holding the Bitcoin standard.

“I don’t really think we could do anything better to position our company in an inflationary environment than to convert our balance sheet into bitcoin,“ he explained.

Saylor added that the company’s decision to buy Bitcoin stemmed from observations made across the industry. He said doing “nothing”- referring to a situation where the MicroStrategy had not bought any BTC- would be consequential.

He said he has witnessed 99% of competitors close shop, and that he felt the company would be “headed” in that direction if they maintained the status quo. Rather tellingly, he noted that the company faced two options: to “either adopt a Bitcoin strategy, or sell the company.”

He said they chose to buy the digital gold.

MicroStrategy‘s holdings number 124,391 BTC after a series of purchases following its pioneering move in 2020. At current prices, the company’s haul is worth over $5 billion.

The post MicroStrategy isn’t in the business of selling Bitcoin even if prices crash, says CEO Michael Saylor appeared first on Coin Journal.

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Here are three reasons behind the recent Propy (PRO) price surge

The price of Propy (PROP) token saw an astronomical rise between January 10 and January 18, before going into the current pullback that is small compared to the kind of surge the token made.

Propy (PROP) token is the native token of the Propy protocol, a protocol that integrates blockchain technology with the real estate sector by automating the whole process of home buying to make it simpler, secure, and faster.

In the course of 2021, Non-Fungible Tokens (NFTs) had gained popularity through digital images like the CryptoPunks and Bored Ape Yacht Club. However, Propy is determined to expand the functionality of the NFTs past the digital art space into the real estate NFTs.

Why the surge in Propy price?

The recent Propy price surge was a result of the growing potential of NFTs for use in different cases, its token listing on Coinbase exchange, and the first sale of the real estate NFT.

The Coinbase listing

The price surge of the PRO token on 14th Jan was mainly contributed by the listing of the second largest cryptocurrency exchange globally by volume, Coinbase which serves US-based investors.

Before Coinbase listing, the PRO token was only available on a few exchanges like the Bitrue, Huobi Global, and decentralized exchange Uniswap.

The first real estate NFT in the U.S.

The upcoming sale of the first real estate NFT in the U.S has been the second development that boosted the trading volume and the price of PRO.

According to Propy founder and CEO Natalia Karayaneva, the reason behind choosing Florida as its U.S-based real estate sale is the growing market and the 0% state individual income tax policy, positive future price growth and demographic statistics, and a crypto-friendly state government.

As they make their first real estate sale in Tampa U.S, TechCrunch founder, Michael Arrington, already sold his Kyiv apartment for 36 Ether back in 2017, which was Propy’s first-ever NFT sale.

The rising popularity of NFTs and blockchain technology

The overall growth in awareness in blockchain technology and the NFTs has also been another reason behind Propy building momentum.

Last year NFT interest and trading volume increased public awareness of integrating NFTs with corporate contracts and houses which has been a topic of discussion for years.

Real estate has been preferred as a safe haven for investors who are looking for a secure place to store their wealth.

With the integration of blockchain technology and NFTs, the process of buying and holding real estate will soon enter the 21st century since the middlemen will be limited lowering the cost of the whole process.

The post Here are three reasons behind the recent Propy (PRO) price surge appeared first on Coin Journal.

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Here is the reason behind the current Terra (LUNA) bullish trajectory

Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins to influence the price of stable global payments systems, has surged by 4.78% in the last 24 hours.

LUNA is currently the fourth largest stablecoin in the market.

It is currently trading at $82.69 with a 24-hour trading volume of $1.6 million.

Why the bullish momentum.

The current Terra (LUNA) bullish trajectory is associated with the latest news about the unveiling of the LUNA Foundation Guard (LFG), whose main objective is to sustain and support open-source technology.

From Terraform Labs, the LUNA Foundation Guard secured an initial gift allocation of 50 million LUNA tokens.

The Co-Founder and CEO of Terraform Lab, Do Kwon said:

“The LFG mandate to continuously support the peg stability of Terra’s stablecoins and ecosystem development powered by Terra’s best builders offers a new pathway for the growth and sustainability of decentralized money. A decentralized economy needs decentralized money, and LFG provides another nexus of resources to achieve that goal”.

The LFG will focus on fund allocation to the development of the Terra ecosystem and also safeguarding the UST peg in volatile market conditions and building reserves

Marketing the Terra economy

To market and boost the Terra economy LFG will fund the Defi projects that have a high demand for the Terra algorithm stablecoins as they pioneer the emerging decentralized finance solutions.

LFG will also be focusing on the sustainability and the peg stability of the Terra native stablecoin Terra USD (UST) under the international council which will be adding a new builder in the Terra Ecosystem.

Regarding this development, the founder of Chromos, Nicholas Platias said:

‘’LFG’s mission is going to reshape how the industry views algorithmic stablecoins and their long-term sustainability. The LFG offers another lever for closing the demand loop of Terra stablecoins, building a vibrant economy around their usage across Web 3 applications, and providing more robust peg defenses during volatility’’.

Terra LUNA has tirelessly worked its way through to the top ten crypto list and is currently ranked 9th according to data from Coinmarketcap.

The post Here is the reason behind the current Terra (LUNA) bullish trajectory appeared first on Coin Journal.

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Market highlights January 20: Cardano keeps sliding, gold and silver related stocks soar

The crypto market is more or less flat today, with most top 10 cryptos having registered gains or losses of less than 1%.

As inflation continues to rise in the US and other parts of the world, demand for precious metals is increasing. Over the past 24 hours, many stocks relating to gold and silver made notable gains.

Examples are Harmony Gold Mining (+16%), Gold Fields (+12.8%), AngloGold (+12.2), and Pan American Silver (+9.5%).

US markets fell yesterday as Germany’s 10-year treasury bond yield turned positive for the first time since May 2019. 

Top cryptos

Cardano continues to slide after posting weekly gains of more than 30%, losing around 3% over the past 24 hours. BNB rose almost 2%, Terra by more than 3%. Bitcoin was trading just under $42,000 at time of writing.

Cosmos is a notable standout in the top 20, up 7.33% in the last 24 hours.

Top movers

FTX Token, the native token of crypto exchange FTX, surged 9% today. Stacks lost 10%, reversing yesterday’s spectacular gains.

The majority of remaining top 100 coins moved in the range of +/- 1-3%.

Trending

The biggest gainer is gaming-based passive income generating cryptocurrency NinjaFloki, the value of which rose by 650% today.

Moonbeam, which Binance recently listed, is skyrocketing, having added almost 25% to its value in the last 24 hours. 

Baby Doge Coin is emerging as a dog-themed meme coin with staying power. It has been gaining over the past week and today is no exception with an increase of 9%. 

The price of REN, the token of REN Protocol, has been rising after an announcement that it has been listed on eToro yesterday. The same goes for Fetch.ai, which eToro also listed. Fetch.ai’s native token FET has gained 9% in the last 24 h.

 

The post Market highlights January 20: Cardano keeps sliding, gold and silver related stocks soar appeared first on Coin Journal.

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Top places to buy MXC, about to break $0.01 per token after exponential growth

The live MXC price today is $0.099 with a 24-hour trading volume of $91.6 million. MXC is up 5.04% in the last 24 hours. This short article will explain everything about MXC: what it is, whether it’s worthwhile as an investment and, of course, the top places to buy MXC if you choose to.

Top places to buy MXC now

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

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

What is MXC?

MXC is web3.0 infrastructure designed to bridge the gap between the metaverse and the real world. Its network runs on a Proof-of-Participation (PoP) mechanism with supernodes, providing scalability and free open networks.

MXC is used to supply devices for the free open wireless network, run supernodes on the network via staking tokens, NFT management, to mine from the LPWAN and satellite networks, and more.

MXC is also used to carry out governance votes to determine network resource allocation. MXC launched on August 2018 with 2.6 billion MXC tokens created at genesis. 

There is no inflation because all the tokens are mined from this 2.6 billion. MXC will be burned once more services are used.

Should I buy MXC today?

MXC can be a profitable investment, but don’t make any investment before conducting careful market research and weighing its pros and cons.   

MXC price prediction

Wallet Investor predicts a long-term increase in the price. In January 2027, they forecast it will trade for $0.211. A 5-year investment will generate revenue of around +111%. A $100 investment made now might reach $211 in 2027.

MXC on social media

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