Kategorie: Crypto Markets

Fantom (FTM) plunged more than 16% on Sunday, dropping as lows as $1.38 as negative sentiment cut across the decentralised finance (DeFi) market.

The sharp decline was triggered by an unexpected tweet from Anton Nell, a high-profile developer and Fantom Foundation advisor.

Andre Cronje and Anton Nell ’shocker‘

In a brief thread on Twitter, Nell said that he and legendary DeFi developer Andre Cronje had come to a decision about their future engagements in the Fantom ecosystem and overall decentralised finance (DeFi) space. 

According to Nell, he and Cronje had finally decided to quit as crypto developers, listing several projects that they would no longer be involved with.

The news saw Fantom (FTM) plummet alongside Yearn.finance (YFI), a project closely associated with Cronje. YFI tanked more than 10% on Sunday.

But in the last few hours, both tokens have bounced higher, with FTM price up more than 2% and YFI +6%. 

For Fantom, the upside comes after the CEO of Fantom Foundation Michael Kong issued a statement ‘clarifying’ that the crypto community likely misunderstood Nell’s message.

In reassurance to the Fantom community, Kong noted on Monday:

“As many of you are aware, Anton, who works with Andre, tweeted that they were “terminating” 25 projects. This was misunderstood. They are “terminating” their involvement, but handing over anything they run to the existing teams.”

Fantom and YFI has ‘hundreds of developers’

Kong has reiterated that Fantom and Yearn.finance will be okay even with the exit of the iconic developers.

He believes this is certainly the case given the Fantom ecosystem currently has “hundreds of developers” working on multiple applications. According to him, these developers have been doing a great job and would continue to do so despite the turn of events.

Speaking of Yearn.finance, Kong noted that the project “has been around for years.” In addition, it has an existing team that will continue to work on it as before.

He has the same view of Multichain and Solidex, two of the largest projects on the Fantom chain. Like YFI’s, these projects have been teams that have worked on them for years. He assured the community that these and many other projects in the ecosystem that are largely associated with Nell and Cronje won’t be ‘terminated.’

Echoing Kong’s viewpoint was Year.finance developer pseudonymously known as banteg. As the YFI token tanked, the developer commented:

“People burying YFI, you do realize Andre hasn’t worked on it for over a year? And even if he did, there are 50 full-time people and 140 part-time contributors to back things up.”

People burying YFI, you do realize Andre hasn’t worked on it for over a year? And even if he did, there are 50 full-time people and 140 part-time contributors to back things up.

— banteg (@bantg) March 6, 2022

The post FTM bounces as Fantom CEO ‘clarifies’ Anton Nell and Andre Cronje’s exits appeared first on Coin Journal.

Two years after founding FTX.US, cryptocurrency exchange FTX has established a European unit licensed in Cyprus, various media sources reported. CySEC, Cyprus’ financial market regulator, approved FTX’s European platform (ftx.com/eu), the exchange announced.

FTX Europe will make products and services available in EEA via an unidentified investment firm licensed to operate across the region. The head office of the division will be in Switzerland. Cyprus will have an additional base.

Users in the EEA will have access to a variety of cryptocurrency products powered by FTX’s industry-leading digital asset offerings and trading technology.

The next phase of international growth

By extending FTX’s presence into Europe and the Middle East, this development marks the next phase of international expansion. Apparently, the new unit will be the crypto exchange’s European equivalent of FTX.US. After a $400 million funding round in January, it is valued at $8 billion.

Sam Bankman-Fried, CEO and founder of FTX commented:

We’re excited to launch our European operations in a regulated fashion to better serve those within the continent. As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter. We’ll be interacting with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade crypto.

Patrick Gruhn, Head of FTX Europe added:

We’re excited to bring FTX’s innovative offerings to the European markets and that CySEC officially approved our domain. Europeans will now be able to use FTX’s best-in-class trading platform to invest in a wide range of cryptocurrencies derivatives thru a regulated investment firm. 

A reputable investment jurisdiction

Cyprus is a highly reputed investment jurisdiction providing access to the entire European Economic Area, which includes the European Union plus three countries. 

The approval of FTX’s domain by the Cyprus CySEC to provide derivative services to European users also sets a new standard for cryptocurrency exchanges in Europe.

About FTX Europe

FTX Europe gives users in the European Economic Area and the Middle East access to FTX’s innovative products, including industry-leading options and derivatives, tokenized stocks, and volatility products among others. 

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Crypto market as a whole is in the red today. Ukraine has spent $15 million worth of cryptocurrency, primarily Bitcoin and Ether, on military equipment. It has received more than $50 million in cryptocurrency donations.

The UK100 lost more than 6% last week as the escalating Russia-Ukraine war caused a selloff in global markets. Firms with strong Russian links were the biggest losers, with miners Polymetal International and Evraz slumping 64.87% and 60.02%, respectively.

The price of oil has risen around 30% in the past week. It almost reached $125 early Monday morning and was trading around $123 at time of writing. Investors will be following closely the possibility that the US will ban imports on Russian oil, which could send prices even higher.

Top cryptos

Solana is down more than 6%, while Cardano, Avalanche, and Ethereum slid more than 4%. Bitcoin was trading just above $38,000 at time of writing, down around 3% over the past 24 hours.

Top movers

Most top 100 coins lost 3-5% of their value today. A notable standout is Fantom, which shed almost 12% of its value. Anchor Protocol lost 14% as the effects of a recent cash injection begin to dissipate.

Convex Finance is still spiraling downward. It has lost 8.68% in the last 24 hours and 9.82% over the past 7 days after a bug caused CVX to sink on a forced token unlock.           

Monero is down 6%, reversing recent gains. Other notable losers include Zcash (-9%) and Chiliz (-7%). Waves is still rallying on support for Ukraine. It gained around 2% today.   

Trending

The token of Meta Speed, an online multiplayer racing game based on blockchain technology, gained 746% today. You can gather your friends, form a team, battle with others and earn token rewards after winning the race.

MovieBloc, a decentralized movie and content distribution platform, is surging on news of lucrative film studio partnerships. The exciting movies it screens contribute to its massive popularity. It added 82% to its value in 24 hours.

The live TROY price today is $0.007 with a 24-hour trading volume of $118 million. TROY is up 29% after announcing an upcoming NFT launch.  

The post Highlights March 7: Major cryptos in the red, UK100 suffers amidst Russia-Ukraine war appeared first on Coin Journal.

The crypto market was in the red over the past 24 hours and the majority of top 10 cryptos registered declines this morning. 

US stocks slipped yesterday as the Russia-Ukraine war entered its eighth day. Alongside the conflict in Europe, Wall Street may be impacted by the NFP report and other job data, to be released today at 13:30 GMT.

Metal prices are soaring as concerns grow that the Russia-Ukraine war will disrupt supply. Gold (+0.42%), copper (+2.29%), palladium (+3.65%), aluminum (+5.46%), platinum (+0.51%) and nickel (+4.89%) all ticked higher.

Top cryptos

Bitcoin was down more than 4% at time of writing, priced slightly above $41,000. Other noticeable declines include Ethereum, which fell 6% and Solana, which was down more than 7%.

The live Cosmos price today is $33.55 with a 24-hour trading volume of $1.8 billion. The 20th biggest coin by market cap has gained around 4% in the last 24 hours. 

Top movers

Most top 100 coins lost 2-5% of their value today. Notable declines here included Internet Computer (-8%), VeChain (-9%), Theta Network and Dash (-7% each), and Helium (-9%).

Convex Finance is beginning to shed recent gains. It rose by more than 40% two days ago. Today, it’s down 8%.

Waves, the Ukrainian-born token, continues to rally. It’s up around 3% today.

The biggest mover of the day is UMA. Known as Universal Market Access, this is a protocol for the creation of synthetic assets based on the Ethereum blockchain. UMA was launched in December 2018.

UMA added 73% to its value on Tuesday. It’s now in the top 100, ranking at #97, and added 14.89% to its value today. Its price has more than doubled in the past 7 days.          

Trending

Kasta is an ecosystem enabling fast and free crypto transfers. Its eponymous token added 46% to its value today after an announcement that Kasta has launched beta testing of its app.

WadzPay Token, an ecosystem with smart contract-based fund disbursement methodology, has gained 36% in 24 hours. The native token WTK is about to break $0.1, possibly on news that the company is hiring 200 people for its new office in Singapore, which it opened last month.

GFI is the native token of Goldfinch, a decentralized credit protocol for crypto loans without crypto collateral. At the time of writing, it had added 22%, reaching $3.78. 

The post Highlights March 4: Cryptos in the red, precious metals soar appeared first on Coin Journal.

Notifi Network, Inc, a messaging layer for Web3, announced a $2.5 million pre-seed round to create and build communication infrastructure for all decentralized applications on blockchain platforms, CoinJournal learned from a press release.  

The funding round was led by Hashed and Race Capital. The funding announcement comes in preparation for the Notifi Beta.

Notifi simplifies communication across Web3 channels

Its platform is designed with simple APIs for easy integration and customization for advanced features for dApps and Web3 applications. It empowers developers to improve their engagement with users via multichannel communications.

Paul Kim, founder and CEO of Notifi Network commented:

I am building Notifi to be the Twilio and the de facto messaging protocol for blockchain so we can help developers and projects to start building long-term relationships with their users. The future of web3 depends on helping the community and new projects to be customer-obsessed. Our focus will be to empower developers so they can focus on their customers.

Paul Kim was previously Director of Product at Circle, where he launched Circle Yield, and Director of Product at Oracle Cloud Infrastructure. Nimesh Amin, who will serve as CTO, comes from search and cloud infrastructure at Oracle too.

Baek Kim, General Partner of Hashed said:

Web3 communication infrastructure does not really exist.  Third-party applications like Discord and Twitter are not enough. With almost $70 billion total valued locked on Defi and $6.1 billion transacted on NFTs it’s crazy that there are no real communication layers to support these ecosystems. We at Hashed believe that we need to solve this now, and help the next wave of users crossover.

Chris McCann, a General Partner of Race Capital added:

Paul Kim and Nimesh Amin started their careers at Amazon Web Services and Oracle Cloud Infrastructure.  They are frustrated by the lack of enterprise-grade notifications for Web3.  Given their skill sets and expertise in the communication technology stack, I believe Paul and Nimesh will redefine how Web3 communications work.  I am excited to back the “Twilio” for Web3.

The funds raised in this round will go towards team and infrastructure development. Additional notable investors include Anand Iyer from Canonical Crypto and Dan Matuszewski from CMS Holdings.

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