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Quant price outlook after Project Rosalind news catalyse QNT gains

  • Quant (QNT) price jumped to near $117 on Friday, but traded near $100 on Monday morning.
  • QNT was down amid selling pressure after rallying on news the blockchain platform had collaborated on a UK CBDC with the Bank for International Settlements (BIS) and Bank of England.
  • The collaboration is seen as a potential positive trigger for future QNT price gains, although currently bears can target $80.

As major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) struggle with fresh sideways grind, some investors are taking whatever profits they can. This is the case with crypto markets down today.

The price of Quant (QNT) is down 2% in the past hours, trading just under $100 early morning on Monday. 

However, the token had jumped to highs near $117 on Friday after news that the blockchain platform had collaborated with the Bank for International Settlements (BIS) and Bank of England on the UK’s central bank digital currency (CBDC).

QNT’s daily trading volume was $32.3 million, with a 24-hour decline of 26% from a day earlier.

Quant collaborates on Project Rosalind test for UK CBDC

Quant, founded in 2018, is a UK-based blockchain platform that seeks to make it easy for traditional financial institutions to tap into blockchain technology. The platform pioneered the interoperable blockchain network Overledger, which market experts say could be critical to the development of CBDCs.

On 16 June, Quant announced it had played a role in Project Rosalind, acting together with digital transformation platform UST as a project vendor. Project Rosalind is a test for the UK CBDC, which was led by the Bank for International Settlements and Bank of England. Other participants were Bank of Canada, Barclays Bank, Amazon and Mastercard.

The test sought to explore how application programming interfaces (APIs) could be used for CBDC systems.

The test showed that APIs had the potential to enable CBDC systems to deliver several benefits related to payments functionality and security. Rosalind also showed that innovative use cases around CBCDs were possible, including their use in supporting further digitization of the economy.

“For the first time money is ready for the digital age,” said Gilbert Verdian, founder and CEO of Quant. “A CBDC will enable citizens and businesses to automate cumbersome payments and processes and implement logic into money”

Verdian has urged banks and other financial institutions to “read the Project Rosalind report and start planning their smart money infrastructure strategy.”

Quant price prediction

Quant’s role in Project Rosalind and the news of it as announced on Friday was a positive catalyst for the price of QNT. With this outlook, the blockchain platform signals its potential role in the growing CBDCs space.

But in terms of price movement over the past 10 months, the bear market sell-off sees the token currently trade more than 76% from its all-time high above $427 reached in 2021. It’s a trend that could see QNT drop to sub-$80 levels, a target for bears, if the support level near $95 fails.

On the flipside, if an upbeat sentiment permeates the crypto market – probably led by Bitcoin (BTC) price rebounding to $30k, QNT could recover and target $200. The two likely hurdles on the upside are $105 and $120.

The post Quant price outlook after Project Rosalind news catalyse QNT gains appeared first on CoinJournal.

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Arthur Hayes says the Chinese trader will drive crypto’s next bull market

  • Arthur Hayes says the crypto autumn rally will be catalysed by Chinese traders.
  • According to the BitMEX co-founder, a weakening of the yuan amid massive credit issuance will drive capital into crypto markets.
  • He notes that “Hong Kong will be the conduit through which Chinese capital is allowed to own crypto.”

Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX, believes the next crypto market rally will be shaped by the Chinese trader.

In an opinion laid out in his latest blog post, Hayes highlights that the US Securities and Exchange Commission (SEC)’s current crackdown on crypto might be a negative trigger. The crypto market is likely to freak out and crater even further due to this.

However, according to the entrepreneur, it is not the US but China that could hold the baton as crypto heads into the next bull market. And the one catalyst to watch out for would be the “return of the Chinese trader” amid the weakening of the Chinese yuan.

“The return of the Chinese crypto trader through the financial pipes of Hong Kong will reignite the market at the same time the broke-ass American mass affluent are effectively shut out,” Hayes wrote in the blog post published June 16.

Hayes explains how China leads the next bull rally

The current market setup is much like the summer of  2015, that “nuclear bear market” whose catalyst was the implosion of Mt. Gox. 

Just as then, the 2022 bear market that included the implosion of FTX has volatility and trading volumes dried up and the sideways price action excruciatingly boring. Indeed, compared to 2015 when Bitcoin price traded near $200 for a long time, 2023 is seeing this with prices ranged below $30k since the breakdown in November 2022.

“But in August of 2015, the PBOC suddenly sparked a rally in China’s interest for Bitcoin with a “shock” devaluation vs. the USD. From August to November of 2015, the price of Bitcoin tripled, with Chinese traders driving the market higher. I believe something similar could happen in 2023,” Hayes noted.

According to the BitMEX co-founder, the above is an outlook he sees materializing as the world’s second-largest economy embarks on an insane credit issuance spree. On why selling now amid concerns around the US regulatory environment “is misplaced.” Why?

“At some point, the selling will stop, and then we get the dreaded sideways. The boring sideways price action will reign until something jump starts the degen spirits of crypto traders.”

That trigger, he says, will be a slowdown in China’s economy and the subsequent money printing spree that will weaken the yuan and see massive inflows into crypto. He explained:

“The less the Chinese economy grows, the more credit will be issued. Then the currency will weaken, capital will be allowed to “flee” into appropriate vehicles, and finally, the crypto capital markets will be provided with the spark to hopefully start the autumn rally.”

To weaken the currency, Hayes says the Peoples Bank of China (PBOC) will look to encourage credit growth sectors of the economy deemed “good.” These areas include semiconductors, artificial intelligence (AI), clean energy, and property. The central bank will allow these “good” sectors to access higher loan quotes, with banks “instructed to lend a certain amount of yuan to these sectors.”

The weakening of the yuan, and the focused approach to attracting crypto and blockchain in Hong Kong are going to be key factors, he added. It is a trajectory that best suits HODLers. The crypto bull summed up his market outlook:

“I have predicted before and continue to believe that Hong Kong will be the conduit through which Chinese capital is allowed to own crypto financial assets.” 

The post Arthur Hayes says the Chinese trader will drive crypto’s next bull market appeared first on CoinJournal.

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Investors grab $245K Chancer tokens within days of presale opening

  • The Chancer presale opened on June 13 and raised $245K in 3 days

  • The predictive markets application has attracted users interested in P2P betting and investments

  • $CHANCER could become a crypto sensation in 2023 with triple and four-digit percentage price increases

Investors are accumulating Chancer tokens ($CHANCER) fast amid enthusiasm for the world’s first blockchain-based predictive markets app. The presale opened on June 13, with $245,568 raised out of a total of $1,000,000. Predictably, $CHANCER could record one of the fastest presales as demand remains high.

Chancer: Unlocking the power of decentralised and P2P bets 

Chancer’s robust presale underlines its value proposition in the betting market. At a glance, Chancer aims to bring betting to the user, allowing them to create their own market, and set rules and odds. The user can invite friends and anyone worldwide in their betting market. They can also join markets created by others, thus permitting peer-to-peer betting relationships via a decentralised blockchain ecosystem.

Chancer brings flexibility and makes betting accessible to anyone. Users are not restricted to what their bookmakers offer. They can create a market to bet on almost everything. It could be anything from football to predicting that a friend will win an upcoming maths contest. Investors will use $CHANCER to place bets and claim winnings. 

$CHANCER will be launched on the secure BSC Chain, and real-time communications will be enabled via Google’s WebRTC. That means investors have enhanced security and can enjoy live streaming through the WebRTC capabilities.

Multiple income opportunities through $CHANCER

Betting is one of the ways $CHANCER holders earn by participating in live markets. There are also market-making rewards for users creating Chancer markets through the dApp and the live stream feature.

Staking is the other earning avenue for investors, which involves committing the tokens on the platform for a chance to earn interest on them. The staking feature unlocks liquidity, enabling traders to opt in and out of positions easily. 

Being a blockchain platform also means Chancer is accessible worldwide. As such, the Chancer team has made it possible to spread the word about the platform and earn. This is enabled through a Share2Earn feature. And to make the platform cost-effective for users, token holders get discounted fees for the markets they create and participate in.

Is $CHANCER the next token to explode?

The overwhelmingly bearish crypto market means investors could be searching for new projects with the potential to return big. Newly launched tokens make it to this list since their price movement is rarely influenced by the general market mood.

$CHANCER is a token launching with a new use case in betting. Predicting that this token will explode is both realistic and prudential. We can base this prediction on the quickly selling presale, which suggests that demand is strong and increasing. 

$CHANCER could explode as the token launches on exchanges and its main betting platform is created. Of course, the prediction is not outright, as it will depend on whether $CHANCER will sustain demand. Early suggestions are that it could. Consequently, we should expect an increase in the token’s value as more investors discover the platform.

$CHANCER prediction in 2023 and 2024

With the excitement around the launch of a platform that allows P2P betting and investment, $CHANCER could make robust price gains. However, a double percentage price increase for 2023 should be considered realistic, given that the token lists in the third quarter. 

With the current presale value at 0.01 BUSD, a price target of 0.1 BUSD or slightly higher in 2023 should be taken. There is still no harm in expecting a 10x increase in 2023, as $CHANCER’s high demand could fuel strong moves. 

Nonetheless, more sustained $CHANCER gains are likely to be driven by the continued usage of the platform. The mainnet will launch in the first quarter of 2024, which could unlock liquidity through real-world use cases. In my prudential approach, a 1,000% gain or higher should be expected of the token in 2024.

The post Investors grab $245K Chancer tokens within days of presale opening appeared first on CoinJournal.

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AltSignal’s presale raises over $1 million as JPMorgan survey lauds AI-based trading

  • AltSignals presale has surpassed $1 million in sales amid enthusiasm around its AI trading signal service.

  • JPMorgan survey points to growing interest in AI-based trading among traders.

  • $ASI is attractive at presale as exchange listing could fuel price increases.

AltSignals (ASI) has been a presale sensation, with investors angling for a share of its AI trading signal service platform by purchasing the token. With nearly 93% of tokens sold out, the AltSignals team has raised over $1 million to actualize its dream of an AI-powered trading platform. This could be an excellent opportunity for new investors to join the trading signal service, which has accumulated over 52,000 members on Telegram since its founding in 2017 in the UK.

Why has AltSignals generated so much interest?

AltSignals has been a very successful trading signal service. Thousands of traders are using the service, with signals averaging accuracy rates of 64%. Much credit for its success has been attributed to its experienced team and the AltAlgo™ software used to generate the signals. Overall, AltSignals has generated over $2.2 million in trading revenues. With the growth and demand for its service, analysts believe Altsignals could benefit immensely from artificial intelligence. 

$ASI presale welcomes a new era of AI trading signal generation for AltSignals. The company will launch an AI trading signal service platform dubbed, ActualizeAI. The blockchain-based platform will be powered by $ASI and is expected to increase the quality of signals generated by AltSignals. The service incorporates predictive modelling, machine learning, natural language processing, and sentimental analysis. The highly successful presale underlines investors’ belief that AI will be core to the growth of an already successful trading signal service. 

AI trading to dominate trading in 3 years – JPMorgan Survey

Traders are betting that AI will dominate the future of financial markets trading, according to a new survey by JPMorgan. The survey, which included 835 professional and institutional traders, found increased automation and adoption of AI in trading. 

The survey establishes that AI has grown popular since the release of ChatGPT, with investors growing curious about what AI can do in business. The strategists predict the domination of the technology in trading in the next three years. That places proprietary platforms like AltSignals and its AI platform ActualizeAI at a pole position to grow.

Beyond trading signals, ActualizeAI offers new ways to earn

ActualizeAI’s benefits are not only about trading signals. Investors can earn in a variety of ways, including the ability to participate in trading competitions and get rewarded with $ASI. This could also be an opportunity for traders to sharpen their skills in trading.

$ASI holders also have access to the AI Members Club. They earn more tokens by contributing ideas and giving feedback to ActualizeAI projects. There are also exclusive presale opportunities for traders in the future. 

The exciting bit is that traders can vote on matters affecting ActualizeAI using their tokens. As such, AltSignals will be a community-led platform, giving its members a voice over issues that affect them. 

Should you buy $ASI in the presale?

Investment can be made at any stage of newly launched tokens, including when listed on exchanges. It depends on the value an investor sees by investing in a particular instrument. However, there is an advantage to buying tokens during their presale. 

One is the advantage of gaining access to the platform before the rest. For AltSignals, investors buying the token at presale can access ActualizeAI early enough. It means exclusive access to other presales and market opportunities.

The second advantage is obviously buying a token that is low-priced. Tokens on presale have a restricted demand since they are unavailable on exchanges. It means the price is still low, and buying at that point offers a chance to generate value from value increases. The tokens have gone to increase in value by up to 10 times from the presale price. As the $ASI presale in stage 1 draws close, it could be the right time to invest before the price skyrockets.

The post AltSignal’s presale raises over $1 million as JPMorgan survey lauds AI-based trading appeared first on CoinJournal.

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Crypto exchange Binance announces exit from the Dutch market

Key takeaways

  • Crypto exchange Binance is leaving the Dutch market after failing to register as a VASP in the Netherlands. 

  • Binance recently applied to deregister its local unit in Cyprus and also exited the Canadian market.

  • The cryptocurrency exchange is also facing regulatory challenges in the United States.

Binance exits the Dutch market

Binance, the world’s leading cryptocurrency exchange by daily trading volume, announced on Friday, June 16th, that it is exiting the Dutch market.

This latest cryptocurrency news comes as the company failed to register as a Virtual Asset Service Provider (VASP) in the Netherlands. In its blog post, Binance wrote that;

“We regret to announce that Binance is leaving the Dutch market. With immediate effect, no new users residing in the Netherlands will be accepted. Starting from 2023-07-17 at 00:00 UTC (2023-07-17 at 02:00 UTC+2), existing Dutch resident users will only be able to withdraw assets from the Binance platform. No further purchases, trades or deposits will be possible. We encourage users to take appropriate action by withdrawing assets from their Binance accounts.”

The cryptocurrency exchange said although it explored many alternative avenues to service Dutch residents in compliance with Dutch regulations, it hasn’t been successful in obtaining a VASP registration in the Netherlands.

However, Binance said it would continue to work to obtain authorisations to provide its products and services to users in the Netherlands.

Binance’s exodus continues

Binance has been under pressure in recent weeks and has exited some markets during that period. The cryptocurrency exchange exited the Canadian market last month, citing the new guidelines that make the Canadian market no longer tenable for its operations.

The company also filed to deregister its local unit in Cyprus earlier this week. All these come at a time when Binance is facing regulatory pressure from the United States. 

The United States Securities and Exchange Commission (SEC) sued Binance earlier this month for allegedly breaking securities laws. The securities regulator has also filed for a temporary restraining order to freeze Binance.US’s assets.

The post Crypto exchange Binance announces exit from the Dutch market appeared first on CoinJournal.