Kategorie: Crypto Markets

• Ruble-denominated Bitcoin volumes reached a 9-month high as investors fled to safe-haven assets.
• Most of the trading is on cryptocurrency exchange Binance, according to details cited by CoinDesk.

More and more people have looked to buy Bitcoin and other cryptocurrencies across Russia and Ukraine amid the impact of war on local currencies, data shows.

According to data from crypto tracking site Kaiko, ruble and Ukrainian hryvnia-to-crypto volumes have shot up in the past week to multi-month highs.

Per the data, trading volumes denominated in the ruble-bitcoin (BTC-RUB) pair increased sharply to hit levels last seen in April-May 2021.

Ruble-denominated BTC volume soared by 1.5 billion RUB on 24 February, according to Kaiko, just ahead of the weekend’s stiffer sanctions that saw Russian banks cut off from the SWIFT system.

Ruble-denominated BTC volume. Source: Kaiko

Ukraine’s hryvnia-BTC volume also surge

While the ruble saw the most trading volume amid the rush to hedge against the impact of sanctions, investors in Ukraine were equally nervous. Kaiko’s Medalie said that even though still low, the bitcoin-Ukrainian hryvnia (BTC-UAH) pair spiked over the week.

Tether-ruble (RUB-USDT) and tether-hryvnia (UAH-USDT) trading volumes have also increased in respect of the invasion, the data showed.

Most of the rising volumes have been on Binance- and LocalBitcoins- which allows for peer-to-peer Bitcoin exchange.

Falling ruble

The rising volumes are majorly driven by a rush to safe-haven assets by investors spooked by the sanctions and the potential ramifications for the ruble.

Gold, US Treasuries, USD, and the Swiss franc are among the assets to see an uptick in buy-side pressure over the past few days. Bitcoin also soared to highs near $40k over the weekend but continues to face pressure alongside stocks.

Already, sanctions have seen Russia’s ruble fall to new lows of 119 against the dollar, with the Central bank of Russia moving to adopt measures meant to defend the fiat currency from further depreciation and inflation hits.

Among these measures is Monday’s move to raise key interest rates from 9.5% to 20%, and an order to local brokers prohibiting them from providing services to foreigners seeking to sell securities.

The post Ruble-denominated Bitcoin volumes hit 9-month high as ruble plummets appeared first on Coin Journal.

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

US stocks ended last week higher, despite the Russia-Ukraine conflict causing wild volatility in global markets.

Healthcare stocks, a classic defensive play during uncertain times, performed strongly, with medical device companies Abbott Laboratories (+4.8% last week) and Medtronic (+5.2%) up significantly.

Miners were among the leading performers on the UK100 last week as the Russian invasion of Ukraine caused turmoil in global markets.

Top cryptos

All top 20 coins are in the red with the exception of Solana, which recorded negligible gains. Terra is down around 4% today, but its gains for the week sit at the impressive 42.89%. 

It’s also the only top 20 coin in the green for the week apart from Cosmos, which added 4% to its value in the past 7 days.

Bitcoin was down around 2%, trading below $38,000 at time of writing. Ethereum was down around 4%, and Cardano and XRP registered losses of around 1% and 3% respectively.

Top movers

Outside the top 20, 22nd ranking Uniswap is performing excellently. Uniswap Exchange announced it would start filling liquidity for test listing and begin test trading, causing its native token UNI to surge. It was up 8% at the time of writing.

Against the background of a generally bearish market, Arweave is one of the top gainers of the week. Currently trading for just over $31, it gained 12% over the past 7 days and another 8% today.

Other gainers today include Filecoin (+3%), Flow (+3%), Decred (+2%), and Iota, RavenCoin, Celo, and Huobi Token with less than +1%.  

At the other end are Convex Finance and THORChain (each -8%) and Harmony, Fantom, and Tezos (each -7%).

Trending

The native token of NuCypher, NU, has gained 25% in the last 24 hours. It is surging on news of its partner NuLink raising $4 million from a number of leading crypto investors, including Coincu Ventures and CypherVenture.

The live Keep Network price today is $0.80 with a 24-hour trading volume of $70.6 million. Keep Network’s privacy token KEEP is up 28% today.

SHIBA TRON is a meme token on BSC referring to Shiba Inu. It claims to offer investors a new DeFi product, where holders get 6% of each transaction. It has gained 1,730% today.

The post Highlights Feb 28: Crypto markets lower, healthcare with strong performance amid conflict appeared first on Coin Journal.

Uniswap Exchange announced it would start filling liquidity for test listing and begin test trading, causing its native token UNI to surge. If you are attracted to unique features and want to learn how and where to buy Uniswap, this guide is for you.

Top places to buy Uniswap now

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What is Uniswap?

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.

An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity thanks to DeFi’s growing popularity and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

Should I buy Uniswap 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.

Uniswap price prediction

Wallet Investor advises against investing in Uniswap. They predict its price will drop from its current level of around $9.81 to as little as $1.30 in just one year, equivalent to a loss  of -87%.

If you invest $100 in Uniswap now, you might be left with $13 in a year. Of course, this is just one price prediction. Some analysts are bullish on Uniswap.  

Uniswap on social media

⚠️#UNI’s 12h chart is setup to nearly double as it has recently shown a BREAKOUT above its resisting trend line! $UNI is now on EXTREME ALERT as with this break, it is setup to climb over +78% to reach the target at $17.86 and we may be witnessing the beginning!#Uniswap pic.twitter.com/qorAALBd31

— JAVON MARKS (@javonnnm) February 27, 2022

The post Uniswap surges 11% on liquidity announcement: here’s where to buy Uniswap appeared first on Coin Journal.

TRON DAO and BitTorrent Chain (BTTC) launched the TRON Grand Hackathon 2022 and debuted the TRONDAO Forum on February 10 and registration began on Valentine’s Day, February 14. It ends on March 7.

Allowing developers to explore TRON

The event’s goal is to allow developers to explore and impact the TRON blockchain and DeFi, blockchain gaming, Web3, Digital Art/Collectibles, and more.

TRONDAO, TRON’s new crypto discussion site, encourages members of the decentralized community to leverage the power and expansion of TRON DAO, creating the basis for a cross-chain future for the whole blockchain economy.

H.E. Justin Sun, Founder of TRON commented:

The future is not far from where decentralized storage, decentralized applications, digital assets, and cryptocurrency wallets are widespread. With the increasing use of decentralized, peer-to-peer, and secure networks, blockchain is becoming the backbone of Web 3.0 – the decentralized web.

The TRONDAO Forum and TRON Grand Hackathon 2022 are about exchange, creating chances, and giving the TRON DAO community a voice.

Complete decentralization

In December, TRON became a community-governed DAO, thereby transitioning to a fully decentralized project. The Grand Hackathon aims to help the crypto community around the globe go mainstream.

TRON DAO and BTTC aim to inspire developers to take advantage of the TRONDAO Forum, design and create DeFi, GameFi, NFT, and Web3 applications and much more. 

About TRON

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS.

It is a decentralized platform focused on content sharing and entertainment. One of its biggest acquisitions was the file sharing service BitTorrent back in 2018.

At the time of writing, the price of TRON was $0.06 and its 24-hour trading volume was just over a billion. TRON is up almost 8% in the last 24 hours.

The post Two more weeks to register for TRON Grand Hackathon 2022 appeared first on Coin Journal.

Despite starting with noticeable declines yesterday, cryptos showed an impressive recovery over the past 24 hours. 

London-listed firms with strong links to Russia dragged the UK100 (-2.26%) deep into the red yesterday. Investors sold out of Anglo-Russian miners Polymetal International (-36.07%) and Evraz (-30.28%) in droves, making them by far the index’s worst performers.

US markets were able to post new gains. The SPX500 (+1.28%), NASDAQ100 (+3.13%) and DJ30 (+0.03%) all climbed higher.

Top cryptos

Bitcoin was up more than 10% at time of writing, joined by 6 other top 10 cryptos recording gains of 8% or more. The recent uptick could be attributed to sanctions on Russia announced by US President Biden, which include limiting the use of several major fiat currencies.

Terra is the biggest winner among top cryptos, up 23% today. It is surging on news trading with the LUNA pair has opened on Bittrex, among others.

Top movers

All top 100 coins are in the green. Anchor Protocol is a standout with 23%. Fantom gained 15% and Maker is up 19%, reversing yesterday’s prominent losses. Gala also gained 15%. Amp and Arweave are up 18%. Theta Fuel gained 14%.  

Neo and Zcash are both up around 13%. Zcash is on its way to breaking $100. Convex Finance, yesterday’s biggest loser, recovered 17% of its losses today.  

Trending

The meme token MetaDogecolony added 360% to its value. In its simplest terms, its token DOGECO is a play-to-win token. At the moment, you can play the game consisting of 1-30 levels, which the team has released as a demo on its site. 

Lucky Block is pushing for a global, blockchain-based lottery system. Its token LBLOCK has added more than a third to its value in the last 24 h.

Fantom is pushing the price of BOO up. BOO is the native token of SpookySwap, an automated market-making decentralized exchange (DEX) for the Fantom Opera network.

It is surging today with gains of 31% in the last 24 hours. Users can now provide liquidity for the Fantom-Revault trading pair on the DEX.

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