Kategorie: Crypto News

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Asset management firm GoldenTree invests $5.2 million in Sushiswap

Asset management giant GoldenTree has taken another leap in the crypto space after investing about $5.2 million in the SushiSwap governance token.

Asset management firm GoldenTree announced via the Sushiswap forum on Wednesday that it has invested $5.2 million in Sushiswap.

GoldenTree, which has around $47 billion in assets under management, revealed that it had been following Sushi for a while. The firm said the launch of its crypto-focused GoldenChain Asset Management arm made it excited to invest in Sushiswap. GoldenTree said;

“We wanted to take a moment to introduce ourselves to the community. We’ve been following Sushi for a while (some of us for several years now), and with the launch of GoldenChain, we are psyched to be more active in all things Sushi. We’re excited about the Sushi 2.0 roadmap, and think upcoming cross-chain integrations for swapping and lending (Sarang is incredibly thoughtful on this front), and updated tokenomics (we’ve been throwing them some ideas around tokenomics) have the potential to be transformative for Sushi.”

SushiSwap, similar to Uniswap, is a decentralised exchange (DEX) that allows people to easily swap one token for another.

Users can buy Sushiswap tokens on a wide range of centralised and decentralised cryptocurrency exchanges.

The GoldenTree team added that it believes Sushi has incredible potential. They added that;

“To GoldenTree, Sushi represents the best of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating, without artificial barriers to competition. We love the approach to new, composable products such as Trident and Bento that give developers frameworks on which to layer on complexity has been quite novel. We don’t think the full power of these products has been unlocked yet or appreciated by many devs.”

The Sushiswap vs. Uniswap comparison continues to be present in the crypto space. The Sushiswap decentralised exchange was created as a copy of Uniswap, with added liquidity mining and governance features.

The investment comes a few days after Sushi community members elected Jared Grey as CEO. GoldenTree said the community has been through some tough challenges, and it has been amazed at the resilience of both the core team and the community in the face of these speed bumps.

The post Asset management firm GoldenTree invests $5.2 million in Sushiswap appeared first on CoinJournal.

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Bitcoin fails to move towards the $21,368 resistance level: Will it dip soon?

Bitcoin has performed well over the last few days but has failed to surge past the resistance level above $21k.

Bitcoin, the world’s leading cryptocurrency, has been performing well over the last few days. The coin has added more than 4% to its value in the last 24 hours and is now trading above $20k for the first time this month.

The positive performance coincides with that of the broader cryptocurrency market. The crypto market has been in a bullish trend since the start of the week, with the total crypto market cap now closing in on the $975 billion mark.

Bitcoin has been trading above the $20k level for the last 48 hours and has failed to mount a rally towards the $21,368 resistance level. 

BTC is down by less than 1% in the last 24 hours and could dip below the $20k support level in the coming hours if the bulls don’t take control of the market.

Key levels to watch 

The BTC/USD 4-hour chart remains bullish despite Bitcoin underperforming over the last few hours. However, the technical indicators show that Bitcoin could become bearish if the current momentum is maintained.

BTC/USD Chart By TradingView

The MACD line remains above the neutral zone, indicating bullish momentum for Bitcoin. The 14-day RSI of 62 also shows that Bitcoin could enter the overbought region if a sustainable rally can be achieved.

At press time, BTC is trading at $20,205 per coin. If the bulls don’t take control of the market, Bitcoin could slip below the first major support level at $19,581 before the end of the day.

However, the second major support level at $19,026 should cap further downward movement in the near term. 

The bulls could regain control of the market and push BTC towards the $20,819 resistance level. In the event of an extended rally, BTC could surge past the $21,368 resistance level in the short term. 

Where to buy now

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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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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The post Bitcoin fails to move towards the $21,368 resistance level: Will it dip soon? appeared first on CoinJournal.

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LG partners with FR0NTIERX for next-generation smart screen NFT displays

LG Electronics Business Solutions has announced a global partnership with Portuguese-based Non-Fungible Token (NFT) platform Fr0ntier X for world-class interactive NFT integrations and experiences on LG webOS Smart Signage.

Fr0ntierX offers a suite of software solutions and its unique application that allows for secure authentication of NFTs on-screen. LG will leverage these in exploring a new class of possibilities while maximizing NFT utility.

Fr0ntierX integrated into LG digital signage solutions

Following the partnership, Fr0ntierX software will from October this year be integrated with LG LED screens and other LG digital signage solutions that run on the WebOS.

Commenting on the partnership, the Co-Founder of Fr0ntierX Zak Manhire said:

“Through this partnership with LG, Fr0ntierX software will enable real-time NFT authentication on-screen in retail environments, events and other modern infrastructure. This world-leading NFT integration partnership will inspire, lead and support growth in the residential sector. Display solutions are the perfect medium for brands in Web3 to galvanize mass adoption and realize incredible NFT opportunities. We are excited by what this partnership brings. The world’s first-ever Proof of Attendance Protocol (PoAP) will be enabled on the LG One: Quick Flex, an all-in-one collaborative display, embedding a photo or short video with filters of the attendee as a memory stamp sent straight to a digital wallet. Our global partnership with LG is just the beginning in world-leading NFT integrations.”

High NFT demand across the market

There is a high NFT demand across the market coupled with the need for a solution in today’s fragmented viewing and purchasing landscape. To that end, the integration of Fr0ntierX  into LG WebOS offers a great solution for LG customers who from October will be able to seamlessly browse, purchase, display and interact with NFTs on LG gadgets.

Highlighting why LG choose Fr0ntierX, the Enterprise Sales Head at LG Electronics Business Solutions Europe, Richard Topping, said:

“Fr0ntierX offers a unique solution to address all aspects of our vertical markets – ground-breaking software, 100% carbon neutral NFTs with webOS integration and a suite of white-labelled applications and possibilities. This allows LG to become the global leader in NFT innovation and integration.”

The post LG partners with FR0NTIERX for next-generation smart screen NFT displays appeared first on CoinJournal.

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Cryptos to watch as Fidelity and Bitwise turn to Web 3.0

One of the best indicators of where money is going in the crypto space is to look at the activities of institutional investors. These are players with big money, and their actions directly impact the market’s potential direction. That’s why the recent moves by Fidelity and Bitwise spell good tidings for the Web 3.0 space. 

Bitwise has announced that it is launching a Web 3.0 ETF. The ETF will trade under the ticker BWEB and invest in more than 40 companies, all within the Web 3.0 space. On its part, Fidelity is launching the Ethereum Index Fund, which is part of the organization’s push toward investing in the Ethereum ecosystem. 

As this news filters into the market, Web 3.0 cryptocurrencies will likely see a pump and could end the week among the top performers. To take advantage of the potential of Web 3.0 cryptocurrencies, below are some of the best to watch now.

The Graph (GRT)

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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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 GRT with Capital.com today

The Graph (GRT) is a web 3.0 cryptocurrency within the fast-growing Ethereum ecosystem. The Graph is designed to make querying the Ethereum blockchain easy, which is essential if Web 3.0 is to gain traction. Besides its critical role in Web 3.0, The Graph is currently trading at record lows after a heavily bearish 2022 year-to-date. As such, there is an incentive for traders to jump into GRT, a factor that could see this cryptocurrency trade in the green soon.

 Polkadot (DOT)

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 DOT 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 DOT with Capital.com today

Polkadot (DOT) is one of the best Web 3.0 cryptocurrencies in the market today. That’s because it is designed for scalability, a critical factor if Web 3.0 is to replace Web 2.0. Now that institutional money is showing an interest in Web 3.0, Polkadot stands out among the cryptocurrencies that are likely to increase speculator interest. 

On top of that, Polkadot is currently trading at a significant low from its most recent highs. As such, now that there is renewed interest in Web 3.0 thanks to institutional money, FOMO could set in the short term. Already, trader interest in Polkadot is rising, as seen by the rising buying volumes.

Ethereum (ETH)

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 ETH with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy ETH with Skilling today

Ethereum (ETH) is the king of smart contracts and supports the largest Web 3.0 ecosystem in crypto. So significant is Ethereum that it is impossible to talk about Web 3.0 without mentioning Ethereum. While Ethereum hasn’t shown much activity even after the Merge, the odds are that it could lead the way now that institutional money is starting to show an interest in Web 3.0. 

The most significant factor likely to give Ethereum a price push in the short term is the move by Fidelity to launch an Ethereum Index Fund. This move creates the impression that institutional money believes in Ethereum and is a real reason to drive FOMO. The fact that Ethereum is currently trading at record lows will also likely add to the excitement around Ethereum in the short term.

The post Cryptos to watch as Fidelity and Bitwise turn to Web 3.0 appeared first on CoinJournal.

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Dogecoin’s journey to $0.07 reignited as price jumps. What next?

  • Dogecoin sends mixed signals amid the latest market recovery
  • The cryptocurrency gained 6% on Wednesday amid high social interest
  • DOGE looks set to reclaim the $0.07 level after intraday gains of 6%

Dogecoin DOGE/USD continues to send mixed signals despite recent recoveries. A bull signal was after breaking above a short-term descending trendline that sent the meme token to $0.068. The ascend was quickly followed by a bearish pin bar below the crucial resistance.

Typically, pin bars communicate price rejection. A bearish pin bar will be characterised by a long wick on the upper side and a small body. It occurs when the price closes significantly lower than the open. That’s exactly what happened to DOGE, as the price hit $0.068. The formation of a bearish pin bar pushed the price down to $0.060.

However, on Wednesday, DOGE rose by 6%, recovering from the $0.060 bottom. LunarCrush ranked the cryptocurrency in the first position by social interest. That came as Elon Musk hinted at proceeding with the Twitter acquisition. Investors have been speculating that the “Doge father” will allow the meme token as payment.

Dogecoin price outlook amid ongoing correction

Source – TradingView

Keeping the breakout on the descending trendline in mind, DOGE should be considered bullish. The proposition arises because the meme token is yet to break below the key support at $0.060. 

Besides, following renewed strengths, DOGE bulls have overcome a slide below the support. The formation of a long bullish bar at the level shows a strong buyer interest, a bull catalyst.

Concluding thoughts

Buyers may take control of DOGE to the $0.07 resistance. Musk news is a key bull trigger that could sustain DOGE to the key level. Investors should consider buying on a potential retracement.

The post Dogecoin’s journey to $0.07 reignited as price jumps. What next? appeared first on CoinJournal.