Kategorie: Crypto News

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Koinos announces $500K seed round led by Blockchain Founders Fund

  • Koinos is a free-to-use blockchain developed by a group that also helped create the Steem blockchain.
  • The Koinos Group said the Blockchain Founders Fund led the seed round, with blockchain gaming platform Splinterlands participating.
  • Koinos will use the funds to build Koinos Pro, a software product set to help developers build scalable decentralised applications.

In the latest cryptocurrency news, Koinos Group, the developer of the free-to-use blockchain Koinos, has announced a $500,000 seed round.

Blockchain Founders Fund leads Koinos seed round

According to a press release CoinJournal obtained on Thursday, Singapore-based early stage industry-focused venture fund the Blockchain Founders Fund led the seed round. The round also saw the participation of blockchain gaming firm Splinterlands.

“Blockchain Founders Fund is demonstrating leadership in the space as a whole by committing funds to a company whose entire business model is based on supporting a truly decentralised platform,as opposed to a platform that is decentralised in name alone,”said  Koinos Group CEO Andrew Levine.

The Koinos Group will use the funds to develop Koinos Pro, a subscription product that allows developers to release highly scalable decentralised applications (dApps). In a tweet on Thursday, the platform said Koinos Pro is a software that will help completely remove entry barriers to the dApps ecosystem.

Already, the Koinos blockchain allows developers to build and launch free-to-use dApps in any programming language, which means users can access high-performance apps as easily as is currently within the Web2 ecosystem.

Founded in 2020, the Koinos Group is a project overseen by several blockchain veterans – including a core developer group of the Steem blockchain.

The funding round comes just over two months after the Koinos mainnet went live, notably without involving an initial coin offering (ICO), pre-mine or airdrop to insiders and such. Koinos’ “Mana” system enables people without the native KOIN token to still access the blockchain.

The post Koinos announces $500K seed round led by Blockchain Founders Fund appeared first on CoinJournal.

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=nil; Foundation raises $22M for zero knowledge proofs marketplace

  • =nil; Foundation has raised $22 million in a funding round led by Polychain Capital.
  • The firm will use funds to build a zero-knowledge proofs marketplace for Ethereum and L2s.
  • Apart from improving security and scalability, blockchains using =nil;’s Proof Market will not need centralised intermediaries

 =nil; Foundation, the zero-knowledge proofs research and development platform looking to build a proofs marketplace for Ethereum and L2s, has secured $22 million in a funding round that valued the firm at $220 million.

Polychain Capital led the funding round, with participation from top blockchain-focused venture firms including Blockchain Capital, Starkware, and Mina Protocol. The investment also attracted several angel investors, including Hasu.

A Proof Market for Ethereum and other public blockchains

The nil; Foundation, launched in 2018, will use the funds from the fundraise to boost the development of its zero-knowledge (ZK) Proof Market protocol, according to details shared via a press release on Thursday. Per the company, the funding will go into building solutions aimed at improving the security and scalability of Ethereum, other L1 blockchains and L2s.

A Proof Market will help provide industry players with a trustless and seamless protocol for sharing zk-proofs without having to rely on centralised intermediaries, the nil; Foundation noted in the announcement.

“Proof Market is now ready to ensure secure data transfer between Ethereum and public protocols, but that’s not the only thing that our team is aiming at,” Konstantin Lomashuk, co-founder of =nil; Foundation, said in a statement obtained by CoinJournal. He added:

“As the ecosystem grows, computations are getting heavier and more complex, thus posing a roadblock for effective and trustless interaction between Ethereum, L2s and other protocols. Creating a marketplace for computational powers that can prove any information will open new opportunities for the whole market, keeping it aligned with core blockchain principles,”

According to the nil; Foundation team, the market already has state proofs for Solana and Mina, while the same should be available on more blockchains soon. Industry players can now use the generated proofs to secure data exchange across Ethereum.

But a fully-fledged Proof Market will work as a zk-proof marketplace, allowing for further accessibility to proofs as blockchains eye more security and scalability.

The post =nil; Foundation raises $22M for zero knowledge proofs marketplace appeared first on CoinJournal.

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Ethereum price retreats as the put/call ratio edges upwards

  • Ethereum put and call ratio on Deribit has risen this week.

  • ETH bullish liquidations have also jumped in the past 2 days.

The spectacular crypto comeback has stalled following a series of weak corporate earnings from the United Stats. Ethereum pulled back to $1,500 on Thursday as data showed that the put/call ratio was heading higher. It has fallen by over 5.90% from the highest point this year.

Put and call ratio slips

The options market is an important one across all asset classes, including cryptocurrencies, stocks, and commodities. It involves placing put-and-call trades on an asset. A call gives the trader the right to buy an asset while a put gives them the right to sell.

The put to call ratio is an essential tool that traders and investors use to predict whether an asset will rise or not. That is why it is an important part of the fear and greed index. 

Data compiled by The Block shows that Ethereum’s put/call ratio has edged upward slightly in the past few days. It has risen from 0.24 on January 4 to a high of 0.3. Historically, a lower ratio is usually preferred since it means that there are more buyers in the options market. Still, it should be noted that The Block’s data comes only from Deribit and does not include other exchanges.

Meanwhile, another data by CoinGlass shows that the number of short liquidations in key exchanges rose to the highest point in months on January 15. Liquidations have continued but at a slower pace since then. However, at the same time, long liquidations have been rising. On Wednesday, they rose to the highest level since December 16 of last year.

The main reasons for these liquidations is the weak financial results by companies like Goldman Sachs and JP Morgan. Some of these firms have warned about a recession and announced significant job cuts. Microsoft is laying off over 10,000 people. 

Ethereum price forecast

ETH/USD chart by TradingView

Ethereum has stumbled as put and call ratio and long liquidations rise. This stumbling happened as the coin reached a high of $1,612, the highest point since November. It has moved slightly below the descending trendline shown in purple. 

At the same time, it has struggled moving above the key point at $1,667, the highest point on November 4. Therefore, I still believe that the outlook for Ethereum is still bullish, with the next key point to watch being at $2,000 as I wrote in this article.

How to buy Ethereum

eToro

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OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

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The post Ethereum price retreats as the put/call ratio edges upwards appeared first on CoinJournal.

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Enjin Coin price pumps as ENJ short liqudations soars

  • Enjin Coin has made a strong comeback in 2023.

  • This rally happened as short liquidations jumped.

  • Metaverse tokens like Decentraland and Sandbox have also surged.

Enjin Coin (ENJ) has been in an unstoppable bull run in 2023. It has jumped in all but two days this year, making it one of the top-performing coins. According to CoinDesk, ENJ was trading at $0.47, which was the highest it has been since November 10 of this year. Here are several reasons why Enjin is soaring.

Short liquidations rise

The first main reason why Enjin is soaring is that short liquidations have jumped to the highest level in months. Data provided by CoinGlass shows that over $539k worth of short sales were liquidated on Thursday. This was an increase from the $257k short sales that were liquidated on Wednesday. 

As shown below, these liquidations have been moving in an upward trajectory starting from the first week of the year. This trend is mostly because of the ongoing macro issues as inflation started to drop. Data published in the past two weeks has shown that inflation remains under pressure. On Thursday, numbers revealed that the producer price index (PPI) dropped in December. 

Metaverse tokens soar

The other main reason why Enjin coin price has risen is simply because of the performance of NFT and metaverse tokens. As we wrote here, we have seen most well-known metaverse tokens like Decentraland’s MANA and Sandbox’s SAND rise to their highest levels in months. Historically, cryptocurrencies in similar industries tend to move in sync with each other.

Meanwhile, data compiled by CryptoSlam shows that the volume of NFT sales has started to creep back up in the past few weeks. This is notable since Enjin exists in the NFT industry. Its Efinity product makes it possible for people to mint and sell NFTs using Polkadot’s technology. 

What next for Enjin Coin

ENJ/USD chart by TradingView

Enjin Coin was one of the worst-performing crypto coins in 2022 as it transitioned into a fallen angel. It finally woke up in 2023, pushing it to the highest point since November. The coin has surged above all key resistance levels and moved above the 25-day moving average. Further, the closely-watched supertrend indicator is still bullish.

However, as shown in the chart above, some longs have started to liquidate their positions as well. This is a sign that the coin could start pulling back in the next few days. If this happens, the next point to focus on will be at $0.3822.

How to buy Enjin Coin

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy ENJ with Bitstamp today

The post Enjin Coin price pumps as ENJ short liqudations soars appeared first on CoinJournal.

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Enjin Coin today’s top gainer: here’s why it is rising

  • At press time, Enjin Coin (ENJ) had gained 15.70% in the past 24 hours.
  • ENJ is currently trading at about $0.4265.
  • Today’s price surge makes ENJ today’s top gainer in the crypto market.

Enjin Coin (ENJ) has made headlines today after it shot up by about 16% to become the best crypto gainer of the day according to data from CoinMarketCap. The second largest gainer today is KAVA which has gained 10.14% while the third is Hedera (HBAR) which has gained 9.50% adding to its 41% rise in the past two weeks.

While it was trading at $0.4265 at the time of writing, Enjin Coin price high a daily high of $0.4524 earlier today.

Why is Enjin Coin price rising today?

Enjin Coin is not known for colossal price movements, making today’s price surge a surprise for many crypto traders and investors. Today’s hike actually pushed the token for a 51% growth over the past seven days.

But why is the price of ENJ surging? Here is a deep dive into the behind-the-scenes pushing the token’s price up.

Enjin network, the parent blockchain of Enjin Coin cryptocurrency, allows game developers to tokenize in-game items on the Ethereum blockchain. While the protocol’s influence among developers has grown since its inception, the recent development update to the platform appears to have energized ENJ buyers as they anticipate the Enjin ecosystem to witness extensive growth in the coming months.

The recent development update saw the protocol launch Enjin wallet, a new non-fungible (NFT) token marketplace called NFT.io, and three core Enjin tooling products. These updates make the platform enticing and easy for game developers thus positioning Enjin as a hub for the growing world of Web3.0 gaming.

The post Enjin Coin today’s top gainer: here’s why it is rising appeared first on CoinJournal.