Crypto News Archive - Seite 1333 von 1899 - Finanzmittel Info + Krypto + Geld + Gold

8. Dezember 2022

Axie Infinity continues to face rejection. Are buyers giving up?

Axie Infinity token lost 6.60% on Thursday despite previous gains
Axie Infinity has been recording increasing activity on the platform
The token faces resistance at the 50-day moving average

After strong gains, Axie Infinity’s (AXS/USD) price is weakening. The token traded down by 6.60% in 24 hours, despite retaining a 16% weekly surge. As CoinJournal reported, Axie Infinity’s bullishness reflected increasing activity on the blockchain.

The increased activity on the play-to-earn gaming platform happens even as decentralisation takes shape. According to a December 05 announcement, “invested” community members have come together to achieve the goal. The announcement stated that more than 600 dedicated members had come together to share Axie Infinity’s future. Besides, Axie Infinity is building an inaugural pilot “season” for its “Governance” section. As a result, it has selected 700 contributors for the trials.

The reaction of the Axie Infinity token to the recent developments may foretell that some positives are to be expected. However, AXS remains subdued by a bear market.

AXS trades at the 50-day MA but is facing bear pressure

AXS/USD Chart by TradingView

From the technical outlook, AXS faces pressure, although the momentum is slightly bullish. The MACD indicator is bullish and recently crossed above the neutral zone. The cryptocurrency trades at the 50-day MA after initially pushing above it.

Can AXS sustain the upside?

Largely, AXS’s price is bearish. The cryptocurrency has been on a downtrend. If bulls are to capitalise on the relief rally, they must avoid a drop below the 50-day MA. Recovery at the moving average will set AXS for the next potential resistance at $11.

Conversely, a drop below will pit AXS to the 20-day MA or $6 bottom. Investors should watch the price action for further confirmation.

Where to buy AXS

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 Axie Infinity continues to face rejection. Are buyers giving up? appeared first on CoinJournal.

8. Dezember 2022

DeFi protocol Tranchess introduces ETH liquid staking

DeFi protocol Tranches has launched ETH liquid staking to fulfil an urgent need for secure and decentralized alternatives on Ethereum.

KEY TAKEAWAYS

Tranchess is a decentralized app that executes yield-generating strategies tailored to users’ risk profiles.
The ETH liquid staking will enable users to earn from staked ETH while retaining liquidity with an ETH-equivalent token, qETH.

The new Tranchess offering comes at a time when the top holders of staked ETH are under scrutiny following the recent collapse of FTX which was at some point the second-largest cryptocurrency exchange. It provides a solution for secure and decentralized alternatives on Ethereum.

Offering non-custodial ETH staking

The Tranchess ETH liquid staking meets a crucial need for more decentralized entities to offer non-custodial ETH staking which is in line with Ethereum’s objective of being a secure, decentralized, and censorship-resistant network.

While announcing the launch of the ETH liquid staking, the co-founder of Tranchess, Danny Chong, said:

“This launch is part of our ongoing commitment to deliver new and sustainable products for DeFi users. With the surging demand for more decentralized entities that have sufficient technical know-how, we’re thrilled to bring our expertise of securing PoS blockchains to Ethereum.”

Liquid staking is specifically important since Ethereum does not currently allow the withdrawal of staked ETH. With the ETH liquid staking, validators can offer liquid staking services and also give users token equivalents that they can use as collateral elsewhere.

Users will be able to deposit ETH on Tranchess to earn yield through liquid staking and at the same time receive qETH which can be swapped for ETH in the Tranchess’ Balancer pool.

About Tranchess

Tranchess is a decentralized application built on BNB Chain and it executes yield-generating strategies tailored to users’ risk profiles. It has also remained a top validator of the BNB Chain, which is a Proof-of-Stake (PoS) blockchain with the second-largest total value locked (TVL).

The validators of PoS blockchains like Tranchess earn native tokens for processing transactions and Tranchess has used this revenue to offer users additional yields of 6 to 12% over the past year.

The CEO said:

“Tranchess provides a sound and transparent alternative to centralised entities that offer liquid staking. As a top BNB Chain validator, the protocol has the solid technical background needed to operate proof-of-stake validators, on top of offering different risk-return solutions for users.”

The post DeFi protocol Tranchess introduces ETH liquid staking appeared first on CoinJournal.

8. Dezember 2022

Bitcoin slides, but you do not want to miss out on a low price this analyst calls a “steal”

Bitcoin has lost a weekly 1.52%, and bear pressure is high
A quantitative analyst expects a bottom in around 3 months but says Bitcoin is attractive
Bears have an edge as long as BTC does not recapture $19,000

Bitcoin (BTC/USD) has lost 1.52% in a week as most cryptocurrencies struggle. Despite recovering slightly by 0.25% in the day, the price of the largest cryptocurrency was struggling to retain the $17,000. As of press time, BTC was trading at $16,860. That has raised questions over the potential of Bitcoin to recover to the $19,000 resistance.

But a renowned crypto analyst thinks Bitcoin is a bargain at the current low valuation. The crypto analyst dubbed PlanB expects Bitcoin to rally at least 5,800%. Consider that Bitcoin is trading at about 4 times less value than its all-time high of over $68,000. Reflecting on the stock-to-flow model, the analyst says the current BTC price is a “steal.”

Typically, the stock-to-flow model assesses assets’ value by comparing their current price to the supply. In his view, if we consider BTC’s original 2019 model or the $55,000 model, BTC’s next halving could catapult prices to $100k-$1 million. He expects the supply to be squeezed in 2024, around the halving event. But how about the short-term price?

PlanB opines that BTC’s bottom could occur in around three months. He says the price of BTC hits the bottom 18 months from the record high.

BTC is struggling to rise at the 20-day MA

BTC/USD Chart by TradingView

From the daily chart technical outlook, BTC’s upside is limited. Although the price has kept the $16,000 support intact, bears are exerting pressure as prices recovered above the 20-day MA.

The RSI is pointing lower and sliding further from the 50-midpoint reading.

Will BTC remain bearish?

The limited upside on BTC price indicates that the bear market is far from over. The $19,000 remains the crucial resistance. If BTC breaks below $16,000, the next level to watch is around $13,000.

Where to buy BTC

eToro

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OKX

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The post Bitcoin slides, but you do not want to miss out on a low price this analyst calls a “steal” appeared first on CoinJournal.

8. Dezember 2022

Litecoin price comeback stalls as hashrate nosedives

Litecoin price recovery stalled this week after defying gravity amid the ongoing crypto sell-off. LTC retreated to a low of $75.60, which was a few points below this month’s high of $84.47. It remains about 60% from the lowest level in November.

LTC hashrate slumps

Litecoin has been in a strong bullish trend in the past few months as demand for the coin remained at an elevated level. Its rally was surprising because of the performance of Bitcoin, Ethereum, and other large-cap cryptocurrencies. For example, BTC has remained slightly above the year-to-date low of $15,400.

Litecoin’s rally coincided with the strong performance of its hashrate. In November, the hashrate rose to an all-time high of 633 TH/s, which was higher than this year’s low of 328 TH/s.

Hashrate is an important data in proof-of-work cryptocurrencies because it helps to measure the health of the network. It is used to determine the number of guesses that are made in the network per second.

This week, however, Litecoin price has dropped amid rising concerns about the crypto and stock market. The decline is notable since it happened because of the dropping hashrate. According to Coin Wars, the hashrate has dropped to 537, the lowest level since November 21.

Why LTC is dropping

There are other reasons why LTC has dropped. First, it has declined because of profit-taking in the coin since it rose by over 65% from its lowest point in November. This is a common situation across the broader market.

Second, it slumped because of macro levels. On Friday, data by the US showed that the American economy added over 282k jobs in November. In the same period, the unemployment rate remained at 3.7%.

And on Monday, data showed that the American services sector remained in an expansion level. Therefore, investors believe that the Federal Reserve will likely continue hiking interest rates in the coming months.

Third, it seems like most crypto investors have reached panic levels, pushing them to sell their coins. The evidence is that the number of Bitcoins in exchanges has dropped sharply in the past few weeks.

While some of these coins have moved to external wallets, data suggests that the number of coins in self-storage has not grown by much. This suggests that investors are still fearful about the crypto market. Indeed, the crypto fear and greed index has slumped to the fear level of 23.

How to buy Litecoin

eToro

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OKX

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The post Litecoin price comeback stalls as hashrate nosedives appeared first on CoinJournal.

8. Dezember 2022

EOS price surges after listing of EOS/USDT on Binance

Today, the EOS price has been rallying after the EOS ecosystem achieved a major milestone with the listing of EOS/USDT on Binance.

KEY TAKEAWAYS

The new listing allows users to seamlessly transfer USDT in and out of the EOS network.
It also exposes the EOS ecosystem to a huge economic activity.
At press time, EOS was trading at $0.9908, up 5.60% in the past 24 hours.

Binance is currently the world’s largest cryptocurrency exchange and the listing of EOS/USDT offers a great opportunity for the greater EOS ecosystem. EOS users will be able to seamlessly transfer USDT in and out of the network without having to convert their USDT to EOS or use a third-party bridge.

EOS/USDT on Binance

Besides seamless transfers, the listing of EOS/USDT on Binance will also boost other EOS initiatives such as Yield+, which is a platform that offers yield incentives to EOS DeFi applications based on the value of EOS and USDT locked into their protocols. It will also make it easier for project teams building on EOS to compensate workers using the USDT stablecoin.

In general, the listing is a testament to the progress the EOS network has made in the competitive landscape of Web3 and is likely to promote EOS to become a go-to network for USDT transactions.

EOS price

The EOS price has been on a steady rise since the news broke out amid a wider crypto market recovery.

According to data from Coingecko, the price of EOS had dropped by about 12.3% in the past 30 days and the current recovery is a major boost to the EOS ecosystem.

The post EOS price surges after listing of EOS/USDT on Binance appeared first on CoinJournal.