Crypto News Archive - Seite 1411 von 1898 - Finanzmittel Info + Krypto + Geld + Gold

11. Oktober 2022

CACHE Gold integrates Chainlink Proof of Reserve on Polygon mainnet

CACHE Gold, a DeFi protocol that supports fully backed, redeemable and regulated tokenized gold assets, has integrated Chainlink Proof of Reserve on the Polygon mainnet. After the integration CACHE Gold users can now verify on-chain cross-chain CACHE Gold tokens (CGT) on Polygon are fully backed by CGT tokens on Ethereum in a ratio of 1:1.

The latest Chainlink Proof of Reserve integration on Polygon builds upon the previous integration of Chainlink Proof of Reserve and Chainlink Price Feeds on the Ethereum mainnet. The integration on Ethereum helps users monitor the locked gold currently backing the CGT tokens. It also allows users to accurately verify that the token’s value accurately reflects the real-world market price of gold.

The combination of Chainlink integrations gives users an assurance that sufficient real-world gold reserves bake the CGT tokens on Polygon.

The CACHE Gold Token (CGT)

The CGT token is a fully backed, redeemable, and regulated tokenized gold asset. One CGT token represents one gram of pure gold stored in vaults around the world.

The CACHE Gold protocol ensures that the number of CGT tokens in circulation remains equal to the amount of stored physical gold. Every gram of the physical gold is tracked by the asset tracking platform GramChain and then verified by Chainlink Proof of Reserve and the proof is published on-chain.

The recurring verification enabled by Chainlink Proof of Reserve allows for transparency of the actual status of the reserves backing the tokens.

The assets (gold) long viewed by investors as safe-haven assets can now be used as a source of collateral in Polygon’s DeFi ecosystem.

Chainlink Proof of Reserve

Chainlink Proof of Reserve allows for the automation of smart contracts on-chain by keeping up-to-date reference contracts thus removing the need for manual audits. It also provides highly accurate and viable data by sourcing data from financially incentivized premium providers.

Chainlink Proof of Reserve Feeds are also decentralized at the oracle node level and data source thus removing central points of failure in the sourcing and delivery of external data to Polygon.

Lastly, Chainlink Proof of Reserve Feeds is transparent. They can be monitored by anyone in real time; a feature that allows any user to independently verify asset collateralization.

The post CACHE Gold integrates Chainlink Proof of Reserve on Polygon mainnet appeared first on CoinJournal.

11. Oktober 2022

Top 3 blue-chip DeFi tokens to invest in for the long term

Decentralized Finance (DeFi) has had a tough performance in 2022 as the total value locked (TVL) has crashed from over $180 billion to about $54 billion. Similarly, DeFi tokens like Uniswap, Maker, Spell Token, and SushiSwap have crashed. Here are the top blue-chip crypto tokens to invest in for the long term.

Uniswap price outlook

Uniswap is the biggest decentralized exchange (DEX) in the world that processes billions of dollars on a daily basis. It is a platform that makes it possible for people to buy and sell cryptocurrencies in a decentralized manner.

Like other exchanges, Uniswap has had a difficult year as cryptocurrency prices have crashed. As a result, the daily volume of all coins it processes has crashed to more than $300 million. At its peak, the network processed coins worth billions of dollars every day.

Uniswap has seen its total value locked (TVL) crash from more than $9 billion to about $5.2 billion. The UNI has crashed by more than 85% this year. Still, there is a likelihood that the Uniswap price will rebound in the coming months.

Maker price outlook

Maker is another blue-chip DeFi protocol in the blockchain industry. It is the biggest DeFi platform in the world with a TVL of more than $7.4 billion. At its peak, Maker had a TVL of almost $20 billion. And unlike other DeFi protocols, Maker exists in one chain; Ethereum.

Maker is known for providing a stablecoin known as Dai. Dai is an algorithmic stablecoin that is valued at more than $6.7 billion. The stablecoin is used to make payments and as an investment where users deposit it in exchanges and earn a return.

Maker is a good blue-chip token because of its strong market share in the industry and the stability of the ecosystem.

How to buy Maker

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.

Buy MKR with eToro today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy MKR with Binance today

Aave price outlook

Aave is a leading platform in the decentralized finance (DeFi) industry. It is a platform that seeks to become a substitute to a bank in that it enables savings and borrowing. Users deposit their tokens and earn a return.

It also provides a non-custodial place for people to borrow capital and pay it with interest. At the time of writing, Aave has over $8.3 billion locked in Aave across 7 networks like Ethereum, Avalanche, Polygon, and Optimism among others.

Aave is a good blue-chip DeFi crypto to invest in because of its strong market share and the fact that it is seeing strong user growth.

How to buy Aave

eToro

Buy AAVE with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy AAVE with Capital.com today

The post Top 3 blue-chip DeFi tokens to invest in for the long term appeared first on CoinJournal.

11. Oktober 2022

Cardano price analysis: Is it safe to buy the ADA dip?

Cardano price crashed below an important support level on Tuesday as sentiment crashed. ADA dropped to a low of $0.3870, which was the lowest level since May. It has crashed by more than 87% from its highest level in 2021. As a result, the total market cap has plunged from over $90 billion to about $13 billion.

Why is ADA crashing?

Cardano came in the limelight in 2021 as cryptocurrency prices soared. At the time, the coin became popular as investors started comparing it to Ethereum. As a proof-of-stake (PoS), most analysts believed that it could become a better alternative to Ethereum.

However, the situation has changed since then. Most cryptocurrency prices crashed in 2022. At the same time, Cardano has not achieved a lot of success as most analysts were expecting. This is partly because at its peak, Cardano was a shell that had no smart contract capabilities.

It powered this capability in 2021 through its Alonzo hard fork. Still, in more than a year, the network has not become as vibrant as most people were expecting. Developers have for long insisted that there are thousands of projects being built using the network.

However, a closer look shows that only a handful of these projects are actually in operation. Those that do, like SundaeSwap and MuesliSwap, have a significantly small market share. For example, only $70 million is locked in Cardano’s DeFi ecosystem. And in this, Minswap has a market dominance of 51%.

Cardano also has no meaningful market share in other sectors like NFTs and the metaverse, which explains why its token has crashed. Most importantly, the recently launched Vasil upgrade is not expected to have a major impact. Another important aspect is that the number of Cardano stakers has been falling.

Cardano price prediction

The daily chart shows that ADA price has been in a strong sell-off lately. It has crashed by almost 80% from its highest level on record. As a result, it has remained below all moving averages. The coin also formed a descending triangle pattern. On Tuesday, it managed to move below the lower side of this pattern.

Also, the coin is hovering slightly above the lowest level this year. Therefore, there is a high probability that the coin will now continue falling now that sellers have prevailed. If this happens, the next key level to watch will be at $0.35.

How to buy Cardano

eToro

Buy ADA with eToro today

Capital.com

Buy ADA with Capital.com today

The post Cardano price analysis: Is it safe to buy the ADA dip? appeared first on CoinJournal.

11. Oktober 2022

Will crypto investors flee Portugal following introduction of capital gains tax?

For the last few years, Portugal has become a safe haven for crypto investors.

With many having moved there throughout the pandemic, as crypto rocketed up to high after high, the rug is now being pulled out from under them.

The Portuguese government has proposed a new cryptocurrency tax policy as part of its 2023 national budget. Contained within the 450-page document covering all things fiscal, is a 28% capital gains tax on cryptocurrency gains.

This 28% capital gains tax is the standard within Portugal, meaning it is no longer a paradise for crypto bros and brodettes. Tacked on, too, is a 4% tax on free crypto transfers as well as further stamp duties in certain instances.

Importantly, however, gains via sales of crypto held for greater than one year will still be exempt from such tax. This means the capital gains tax proposed is more of trading tax, in reality.

Portugal had previously hinted at this

This move does not come as a surprise. Minister of Finance Fernando Medina had announced in May that the move to bring cryptocurrency within the capital gains net would come sooner rather than later.

The decision comes off the back of the move to reclassify cryptocurrency as an investment rather than money, meaning it will now get caught by capital gains tax.

Lisbon and Madeira

Lisbon, the capital city of Portugal, is viewed as one of the European crypto hubs, partially due to the (previously? ) lax crypto laws. Portugal also offers an easier route than many nations to residency, further attracting crypto investors.

It will be interesting to see how this will affect things going forward. The race between jurisdictions to establish themselves as European crypto hotspots has been competitive. Maderia, the Portuguese island from where superstar footballer Cristiano Ronaldo hails, sent a signal of intent at the most recent Bitcoin conference in Miami by announcing Bitcoin as legal tender.

Lugano, a small city in Switzerland, are the only other spot in Europe where Bitcoin is de facto legal tender. In addition to Bitcoin, the stablecoin Tether is also de facto legal tender, while a Lugano-specific stablecoin is also in the works.

Final thoughts

As the bear market roars and investors are hurting everywhere, it does bear reminding that one needs to secure gains to be caught by capital gains tax.

The move to charge capital gains tax likely won’t hurt in the short term, therefore. Remember, any gains from longer than a year ago are immune. And given Bitcoin traded at $69,000 eleven months ago, it’s probably unlikely that there are many traders worried about this 28% tax imminently. Silver lining?

Nonetheless, it will be interesting to track whether crypto enthusiasts begin to set up shop elsewhere, as Lugano and other places continue to push to attract their digital money.

The post Will crypto investors flee Portugal following introduction of capital gains tax? appeared first on CoinJournal.

11. Oktober 2022

Portugal working on new crypto tax legislation to levy 28% capital gains tax

An official report released by the Portuguese government shows that the country is working on a new cryptocurrency tax legislation scheduled for enacting in 2023.

The new legislation intends to levy a 28% capital gains tax on crypto profits, a 4%, and stamp duties on any free cryptocurrency transactions.

28% capital gains tax

If the proposed crypto legislation sees the light of day, the Portuguese government will levy a 28% capital gains tax on crypto profits made within a year. However, gains made for holding cryptocurrency assets for a year will not be subjected to the capital gains tax.

According to the 450-page report, gains made from crypto issuing and crypto mining would be subject to the capital gains tax.

4% tax on crypto transactions

In addition to the capital gains tax, the Portuguese government also seeks to introduce a 4% tax and if necessary stamp duties on free crypto transactions.

The idea is to provide a flawless framework for crypto taxes and treat the industry equally with other businesses within the country.

Portuguese parliament stand on cryptocurrencies

In May this year, the Portuguese finance minister said that the country was preparing to start taxing cryptocurrencies, stating that work would begin on working on the legal framework.

The minister had however declined to provide the legal timeframe at the time.

The post Portugal working on new crypto tax legislation to levy 28% capital gains tax appeared first on CoinJournal.