Crypto News Archive - Seite 1457 von 1652 - Finanzmittel Info + Krypto + Geld + Gold

11. April 2022

Binance receives in-principle approval to operate in Abu Dhabi

The ADGM intends to issue similar regulatory approvals to other global and local companies

The Abu Dhabi Global Market has announced that the world’s biggest crypto exchange Binance has received an in-principle to operate in the Emirate. The approval marks a crucial milestone in Binance’s goal to operate as a fully licensed firm.

The approval permits Binance to operate as a broker-dealer in a wide range of digital assets including cryptocurrencies in Abu Dhabi. This is Binance’s third regulatory approval in the middle east after similar advances in Bahrain and Dubai.

The ADGM is an international financial free zone in the UAE. Historically it has been a frontrunner in providing regulatory and supervisory oversight for financial services in its region. Commenting on Binance’s efforts to establish new dimensions of digital asset trading across the world, ADGM said:

“The IPA is part of Binance’s plans in establishing itself as a fully-regulated virtual asset service provider in an internationally recognized and well-regulated financial centre.”

Dhaher bin Dhaher, CEO of ADGM, welcomed Binance to UAE’s biggest city Abu Dhabi and promised to aid efforts by the exchange to establish its presence in the emirate.

In a bid to improve Abu Dhabi’s position as a hub for virtual assets and the digital economy, the ADGM also plans to provide similar regulatory approvals for other deserving local and global companies. The pro-crypto intent comes amid the fast-paced growth and rising importance of the industry.

Previously, prominent crypto exchange FTX was awarded an operational license in Dubai.

In March, the ADGM published a consultation paper that proposed that NFT trading in the jurisdiction should be allowed for ADGM-licensed companies.

In response, the Financial Services Regulatory Authority (FSRA), the region’s chief regulator stated that NFTs traded in consultation with the ADGM will be treated as intellectual property rather than as financial instruments. Further, facilitating such NFT trading will require companies to comply with strict Anti-Money Laundering (AML) and Sanctions Rules.

The post Binance receives in-principle approval to operate in Abu Dhabi appeared first on Coin Journal.

11. April 2022

3.41 million Cardano addresses reportedly red as ADA price continues to fall towards the $1 level

ADA has fallen by over 11% in the last week

An increasing number of investors are facing unrealised losses due to the fall back in the price of Cardano’s native currency ADA towards the $1 psychological level, a report by IntoTheBlock money indicator stated.

According to CoinMarketCap, the cryptocurrency is currently trading at $1.03 with a 3.28% gain in the last 24 hours.

The open-source and decentralized public blockchain platform Cardano has witnessed a bearish week with prices falling over 11% since Monday. This has pushed holders into the red as ADA is currently trading at over 64% lower than its all-time high of $3.09 in September 2021.

More than 67% of ADA holders are currently underwater while 25% of Cardano investors are profiting and 9% are at a breakeven point, the report explained. The threat of ADA falling below $1 continues to loom over its holders, especially if the present trend of cryptocurrency’s performance continues.

The IntoTheBlock indicator uses the average cost at which tokens were purchased and compares it to the current price to report its findings. According to this analysis, 3.41 million ADA addresses are facing losses vis-à-vis the 1.25 million addresses still in the green.

The indicator also used the amount of time the token has been held as an indicator to state that over 75% of ADA holders hold the token for between one and 12 months. 11% of investors hold the currency for more than a year and are thus the ones still recording a profit.

Fears that ADA will hit its yearly low of $0.80 as seen in March 2022 have further prompted more investors to sell, plunging the currency.

However, in terms of fundamentals, Cardano continues to look strong. The blockchain’s dApps are waiting for the Vasil hard fork in June to launch and network demand has continued to grow after the launch of the SundaeSwap decentralized exchange (DEX).

The post 3.41 million Cardano addresses reportedly red as ADA price continues to fall towards the $1 level appeared first on Coin Journal.

9. April 2022

Why Enjin coin beats Axie Infinity in the short term

The Metaverse future is decentralized, and Enjin has it.

Axie Infinity maintains its position as one of the most popular play-to-earn gaming platforms.
Enjin is growing fast for its platform agnostic NFTs.
After the recent hack on an Axie Infinity side chain, the hype favors Enjin.

Axie Infinity (AXS/USD) is a play-to-earn gaming platform where players can create and sell their creations as NFTs. The Axie Infinity game has become so popular that it now boasts one of the most expensive collections in the NFT space. With its gaming ecosystem on a growth trajectory, Axie Infinity continues to draw the interest of both gamers, developers, and investors, making AXS one of the most valuable Metaverse cryptocurrencies that are likely to grow in value as more people adapt to living virtually.

Enjin Coin (ENJ/USD) is another Metaverse cryptocurrency that has recently drawn a lot of investor interest. Unlike most Metaverse platforms that lock the user to a single platform, Enjin allows users to mint and trade their NFTs across multiple platforms. This is a big deal as it reduces the manipulation and hacking risks of being locked to a single platform.

Why Enjin Coin Wins

For the Metaverse to truly take off, it has to be decentralized. This gives Enjin a huge leg-up over Axie Infinity going into the future. Besides, a sidechain to Axie Infinity was recently hacked and $600 million stolen. This could put a dent in its rate of growth in the short term. Enjin Coin, on its part, is decentralized and has not experienced such issues. This makes ENJ a better bet in the short to medium term.

Summary

With the Metaverse on a growth trajectory, both Axie Infinity and Enjin Coin are likely to take off going into the future. However, in the short to medium term, Enjin Coin has better prospects. It is more decentralized, and the recent hack of Axie Infinity’s side chain puts a dent in AXS’s short-term potential.

The post Why Enjin coin beats Axie Infinity in the short term appeared first on Coin Journal.

9. April 2022

Solana v Waves – Which one to buy the dip?

Solana has much better news now and makes for a better buy.

Solana seems to have recovered from the negativity that followed its 2021 network outages.
Waves has been hit by rumors of it being a Ponzi scheme when the market is yet to emerge from the bear trend fully.
Solana has better prospects than Waves in the short term.

Solana (SOL/USD) is a smart platform blockchain that has grown in popularity for its high speed and low transaction speeds. Before the cryptocurrency correction of the last two days, Solana had started outpacing most of the other top 10 cryptocurrencies in gains. This is an indicator that investors are getting more confident in Solana’s future growth after a series of network outages towards the end of 2021. Given the heavy investments that are going into Solana NFTs, Solana’s growth prospects look good.

Waves (WAVES/USD), on its part, is also a smart contracts platform that has grown in popularity for its use cases in DeFi. A few weeks back, Waves outperformed most cryptocurrencies by a huge margin. Following the sanctions, this followed speculation that it was a Russian project and that Russians would use it to transact and protect against wealth erosion. However, Waves has dropped harder than average in the last few days as fast as it gained. This follows rumors that it could be a Ponzi scheme.

Which one to buy the dip

While Solana and Waves are high-potential cryptocurrencies and will recover from this dip, Solana has better prospects. One of the reasons why Solana has better odds is that it has a much bigger ecosystem of projects building on top of it. Solana also has a lot more hype, especially among institutional investors, which could play well in its favor as bulls return to the market.

Waves is a much smaller chain and aren’t as well-known as Solana. Besides, after the recent rumors of it being a Ponzi, Waves could take longer to gain traction since the market is highly volatile.

Summary

Both Solana and Waves are high-potential smart contract blockchains. However, following a negative rumor about Waves, Solana could be a better buy in the short term. This makes SOL a better buy in the current cryptocurrency market dip.

The post Solana v Waves – Which one to buy the dip? appeared first on Coin Journal.

9. April 2022

Filecoin v MINA – Which is a better web 3.0 bet short term?

MINA is newer and cheaper and could draw more investors short term

Mina is a web 3 cryptocurrency that is focused on data privacy and security.
Filecoin is a web 3 cryptocurrency that is decentralizing the cloud storage market.
While both are good investments, MINA stands to outperform FIL in the short term.

Mina MINA/USD is one of the fastest-growing Web 3 cryptocurrencies in the market today. Mina has shot up in popularity due to its introduction of privacy features in Web 3 applications. This is a big deal considering that online privacy and security are some of the reasons why Web 3.0 is gaining traction today.

Besides its privacy capabilities, Mina is gaining traction for its technical capabilities. Mina is one of the lightest blockchains in the market today. While other blockchains take up to 300 GB2 of space, Mina only takes 22Kb, and the memory uptake is fixed. This means Mina services can easily be accessed through a smartphone.

Filecoin FIL/USD is also a Web 3.0 cryptocurrency that aims to decentralize the cloud storage market. Rather than sending data out for storage to centralized companies, Filecoin incentivizes anyone with some extra space on their PC to rent it out for storage in exchange for FIL tokens. So far, FIL has experienced increased adoption, and the value of FIL tokens incentives users to rent out space.

Which one is a better buy?

While both FIL and Mina are high potential Web 3.0 cryptocurrencies, Mina wins the game in the short term. It is newer and has a much more exciting value proposition – protecting data security and privacy. Mina is also nominally cheaper than Filecoin, which could draw in more investors looking for parabolic gains in the short term.

Summary

Mina is much cheaper and has a more exciting use case than Filecoin. This gives it a significant edge over Filecoin in the short to medium term. However, in the long run, both have the potential to perform well.

The post Filecoin v MINA – Which is a better web 3.0 bet short term? appeared first on Coin Journal.