Kategorie: Crypto News

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Kadena price prediction: Is this the return of the raging bull?

Kadena price rebound accelerated on Monday as demand for the token continued rising. The KDA token jumped to a high of $2.42, which was the highest point since May 25th this year. It has risen by over 76% above the lowest point this year, bringing its total market cap to over $445 million.

KDA demand continues

Kadena is an upcoming blockchain project that seeks to become the best platform for developers to create decentralized applications. It was launched by a team of developers who helped to launch JP Morgan’s internal cryptocurrency. 

Kadena is different from most other Ethereum rivals. For one, it is a proof-of-work blockchain, means that new coins are produced via mining. Kadena developers have created a situation where mining does not necessarily lead to more carbon emissions.

At the same time, Kadena is one of the fastest layer-1 blockchains in the world. According to its developers, Kadena can handle over 450,000 transactions per second (TPS). This is a notable figure since Visa and Mastercard handle less than 10,000 tps each. Solana handles 2,500 tps while Ethereum can process less than 25 tps.

Still, a major challenge for Kadena is that its ecosystem is still significantly tiny than that of its peers. According to DeFi Llama, the platform has just five DeFi applications that have a combined total value locked (TVL) of over $7.7 million.

The main reason why Kadena price is rising is that Kaddex, a new DEX launched in its platform has grown its TVL to over $4.4 million. This is a strong number considering that it was launched last week. Other Kadena DeFi apps with over $1 million in TVL are Babena and KDSwap.

The ecosystem will likely continue growing following the recent grants by Kadena Eco. Some of the top apps that received funding by Kadena are Electron Labs, Hypercent, and KDLaunch.

Kadena price prediction

The four-hour chart shows that the KDA price has been in a strong bullish trend in the past few weeks. As it climbed, it managed to move above the important resistance at $1.8785, which was the highest point on July 19th. 

The coin has moved above the 25-day and 50-day moving averages while the MACD has moved above the neutral point. Therefore, the coin will likely keep rising as bulls target the next key resistance point at $2.75, which is about 16% above the current level.

The post Kadena price prediction: Is this the return of the raging bull? appeared first on CoinJournal.

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Crypto.com expands in South Korea following key acquisitions

Crypto.com has obtained two licences in South Korea after acquiring two startups in the country.

Cryptocurrency exchange Crypto.com announced that it had acquired two companies in South Korea in a bid to expand its presence in the Asian country. 

The company announced today, August 8th, that it had acquired South Korean payment service provider PnLink and virtual-asset exchange OK-BIT. 

The acquisitions mean that Crypto.com has secured registrations under South Korea’s Electronic Financial Transaction Act and as a virtual-asset service provider.

While commenting on this latest development, Kris Marszalek, Crypto.com’s co-founder and CEO, said;

“We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies.”

Crypto.com’s chief operating officer Eric Anziani added that the cryptocurrency exchange is trying to bring its offerings to the Korean market, and also work with partners here that are at the forefront of gaming and entertainment.

Crypto.com has been around since 2016 and is one of the leading cryptocurrency exchanges in the world. The exchange has more than 50 million customers worldwide and already holds licenses in Singapore, Dubai, Italy, Greece and Cyprus.

Cryptocurrency exchanges are known to obtain local licences by acquiring startups in the countries they intend to operate. 

In the United Kingdom, Binance and Bitpanda acquired smaller startups that were registered under the UK’s Financial Conduct Authority’s anti-money laundering regime. Thus, allowing the crypto exchanges to operate successfully in the UK

Patrick Yoon, General Manager, South Korea of Crypto.com, also commented that;

“We believe our services can not only help further evolve and empower commerce in Korea but also support the greater creation and development of our Web3 ecosystem. Korea is a tremendously important market for Crypto.com in advancing blockchain technology.”

The crypto exchange said it has already received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority and a few others.

The post Crypto.com expands in South Korea following key acquisitions appeared first on CoinJournal.

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Why is ROSE up by more than 20% in the last 24 hours?

The cryptocurrency market is having a positive start to the week, with most coins and tokens now in the green zone.

The cryptocurrency market has picked up from where it left off last week. The market has added nearly 3% to its value in the last 24 hours, with the total market cap now closing in on the $1.2 trillion mark.

Bitcoin cemented its position above the $23k level over the weekend and is now looking to bridge the $24k resistance level once again after adding more than 3% to its value today.

Ether is also eyeing the $1,800 resistance level and is up by 3% in the last 24 hours. However, ROSE, the native token of the Oasis Protocol, is the best performer amongst the top 100 cryptocurrencies by market cap today.

ROSE has added 24% to its value in the last 24 hours and could rally higher over the coming hours and days.

ROSE has been performing excellently since the Oasis Protocol announced its partnership with Facebook’s parent company Meta last week. The cryptocurrency could surge higher as the broader market continues to perform well.

Key levels to watch

The ROSE/USD 4-hour chart is bullish as Oasis Protocol has been performing well over the weekend. The technical indicators show that ROSE is the best performer amongst the top 100 cryptocurrencies by market cap today.

The MACD line is deep within the positive territory, indicating bullish momentum for ROSE. The 14-day RSI of 68 shows that ROSE could enter the overbought region if it can maintain its current momentum.

At press time, ROSE is trading at $0.1032 per coin. If the bulls remain in control, ROSE could surge past the $0.112 resistance level for the first time since May 2022. 

However, the resistance level above $0.135 should cap further upward movement in the short term. 

The post Why is ROSE up by more than 20% in the last 24 hours? appeared first on CoinJournal.

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Trillion-dollar investment fund takes an interest in crypto – Which cryptos could reap big?

There has been a lot of negative news around cryptocurrencies in the last few months. Despite this, cryptocurrencies have rebounded, and through the first week of August, the total market capitalization has remained steady above the $1 trillion mark. There is also a lot of good news that could also see the whole cryptocurrency market rally throughout the month. 

One of them is that BlackRock, one of the most significant investment funds, is getting into crypto. The institution with more than $1 trillion in assets under management is looking to partner with Coinbase. The partnership aims to create a platform through which institutional investors who form part of BlackRock’s client base can enter the crypto market. Not only is this bullish news for the whole crypto market, but it also creates a perfect opportunity for several large-cap cryptocurrencies to rally within the month. That’s because big money tends to focus on large-cap cryptocurrencies. 

If you are looking to bet on large-cap cryptocurrencies, here are a few you would want to keep in mind throughout the month.

Ethereum (ETH)

Ethereum (ETH) is one of the top altcoins that have the potential to rally in August if the BlackRock news positively impacts the market. That’s because, besides the market news, Ethereum has a lot going on. One of them is the upcoming merge that will finally see Ethereum run as Eth 2.0. That aside, Ethereum is one of the cryptocurrencies that BlackRock’s institutional money is likely to buy. That’s because it happens to be one of the most secure cryptocurrencies after Bitcoin. Ethereum is already outpacing Bitcoin in August, so there is a strong chance that the momentum could continue.

Cardano (ADA)

Cardano (ADA) is one of the cryptocurrencies that could see its price move as the BlackRock news filters into the market. One thing that makes Cardano attractive to investors is that it is highly decentralized. After the recent issues affecting high-profile cryptocurrencies, the odds are that decentralization will take centre stage in cryptocurrency investments going into the future. Besides its attractiveness to institutional money, the Cardano developer team has announced some significant upgrades in the short term. This could also play a role in giving Cardano momentum in August.

Bitcoin (BTC)

Bitcoin (BTC), being the largest cryptocurrency, is an obvious choice for institutional money. As such, now that BlackRock is interested in the crypto market, Bitcoin can reap big. Bitcoin is already showing positive signs. 

After dropping below $20k not so long ago, it has bounced back and is now holding steady above $22k throughout August. There is also data showing that the majority of the Bitcoin in existence today has been taken off exchanges making the number one crypto highly illiquid.

As such, if institutional investors such as BlackRock take an interest in Bitcoin, its value could go up significantly. Even a tiny order could take BTC to unexpected prices within the month.

The post Trillion-dollar investment fund takes an interest in crypto – Which cryptos could reap big? appeared first on CoinJournal.

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Top 3 cryptocurrencies for a high ROI in August 2022

The market is currently trading sideways after more than 6-months in the red. Bearish sentiment remains strong, too, as macro-economic factors paint a picture of a global economy that could be headed for a recession. However, some factors paint a bullish picture for cryptocurrencies and point to a market headed for a major recovery.

One of them is data showing that 40% of U.S investors are buying crypto now. The data shows that the investors are driven by a need to preserve wealth amidst the ongoing uncertainties in the market. 

Not only is this a huge validation for cryptocurrencies, but it could also trigger a rally that could see cryptocurrencies return to their most recent all-time highs. That’s because American investors have the money, a factor that could see them push the market up in August. This possibility is reinforced by the fact that Bitcoin is holding strong above the $20k support despite the market turbulence.

Going by this market potential, here are some top cryptocurrencies to keep an eye on in August. 

Binance coin (BNB)

Binance Coin (BNB) has started August with a lot of momentum. When writing this article, BNB was up by 6.8%, outperforming most top cryptocurrencies. This follows a series of good news in the last 24 hours. 

One of the most important ones is that Binance has entered the Argentine cryptocurrency prepaid market. With more people in South America using crypto payment cards, the uptake is likely to be huge. Since BNB is the native cryptocurrency for payments in the Binance ecosystem, this move translates to a potential increase in demand. 

This potential is reflected in its price, and BNB could remain strong throughout the month. This momentum is enhanced by Binance Coin’s push through the $300 resistance. This could see more buyers gain confidence in BNB in the short term. 

Polygon (MATIC)

Polygon (MATIC) is still basking in the glory of last month when it emerged as one of the best-performing cryptocurrencies. This month, upside momentum is likely to remain strong for Polygon. That’s because the Ethereum merge is scheduled for next month, and Polygon, one of the bigger Ethereum layer-2, is likely to benefit from FOMO ahead of the merge. For this reason, Polygon remains undervalued in August, even after its most recent rally. 

Flow (FLOW)

Flow (FLOW) is one of the best-performing cryptocurrencies in August so far. Flow’s rally has much to do with the news that Meta, Facebook’s parent company, is supporting it. Meta will support NFTs and other digital collectables on the Flow blockchain.

Given that, FLOW is still trading at massive lows compared to its all-time highs. FOMO around this news could see this cryptocurrency emerge as one of the best-performing cryptos in August. It would also not be surprising if FLOW ends the year as the first crypto to retest its all-time highs.

The post Top 3 cryptocurrencies for a high ROI in August 2022 appeared first on CoinJournal.