Kategorie: Crypto News

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10 Best Cryptocurrencies to Buy in February 2022

The following list contains the ten best coins you should invest in before February runs out.

1. Bitcoin (BTC)

 Amidst the environmental concerns, some countries are already legalising Bitcoin and using it as a store of value. Bitcoin is worth $44,199 with a market cap of $841 billion. The available supply is 2 million lesser than its total supply. Due to the halving that occurs every four years, experts predict that its price will surge between now and the next halving in 2024.

2. Ethereum (ETH)

 Ethereum is the first smart contract platform and has since been enjoying the first-mover advantage. Due to the concerns around the proof of work mining model, there are plans to move the blockchain to the proof of stake consensus algorithm. A move that experts believe would do its adoption and price good. It costs $3,193.3 as of today, with over 110 million in circulation, having peaked at $4,878 in November 2021.

3. Binance Coin (BNB)

 This is the native token of the giant exchange- Binance. It is used for settling transactions and staking purposes. It has a market cap of $70.8 billion with a unit price of $421.05. For a coin that is regularly burnt, it has maxed out its entire supply.

4. Polkadot (DOT)

 Polkadot is a blockchain of blockchains that run at low costs and high speed. It is aimed at combating the three key issues of pioneer blockchains. DOT peaked at $54.98 in November 2021 but is worth $21.95 right now. DOT is used to run the network.

5. Polygon (MATIC)

 Polygon is a layer-2 blockchain created to solve the problems of the Ethereum blockchain. Asides from that, it supports Ethereum Virtual Machine. MATIC is used to run the platform and participate in governance. It costs $2.03 right now, with a market cap of $13.8 billion.

6. Tether USD (UST)

 UST is the stablecoin created by Terraform Labs on the Terra blockchain. Unlike most popular stablecoins, it is stabilised by smart contract algorithms. It is used to avoid the volatility of other cryptocurrencies during bear runs. It costs $1.00 with an available supply of 11.3 billion.

7. Monero (XMR)

 Monero is the biggest privacy blockchain that supports private and censorship-resistant transactions. Ring signatures, stealth addresses, and ring CT are some tools used to make its transactions confidential and untraceable. XMR, the native token, has an available supply of 18.1 million. It costs $183.52 right now, with a market cap of $5 billion.

8. Terra (LUNA)

 Terra is a DeFi platform that enables users to create stablecoins. These stablecoins are stabilised by LUNA and smart contract algorithms. LUNA can be staked and used to participate in the platform’s governance. It costs $57.22 right now but peaked at $103.34 in December 2021.

9. Ripple (XRP)

Ripple is a blockchain that supports borderless transactions among banks, with over 200 banks already using it. It is faster and less costly than the traditional method. XRP is used to provide liquidity for these transactions. It costs $0.89 with a total supply of 100 billion and a market cap of $42.6 billion.

10. The Sandbox (SAND)

 The Sandbox is a metaverse that enables creating and monetising gaming experiences. SAND is used to power the platform and to settle transactions. It experienced a price increase of over 7000% and costs $4.78 right now. It has a market cap of $4.9 billion, with over 1 billion currently in circulation.

 While all these coins have great potential, you shouldn’t go ahead and invest in them without proper research. Cryptocurrency investment is very risky, so deal wisely.

The post 10 Best Cryptocurrencies to Buy in February 2022 appeared first on Coin Journal.

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Bill Miller: Bitcoin is an insurance against financial catastrophe

  • Legendary investor Bill Miller compared Bitcoin to an insurance policy, noting that it may lack intrinsic value but duly comes in handy in case of a catastrophe.

  • Miller said he still holds a significant portion of Bitcoin in his portfolio.

  • BTC price climbed above $45,000 on Thursday, jumping above the resistance level amid high volatility in the market.

Bitcoin is what investors need to hedge against financial catastrophe, legendary investor Bill Miller said in an interview with CNBC.

According to the fund manager, who in January revealed that he held a significant chunk of his personal wealth in Bitcoin, the cryptocurrency acts „like an insurance policy.“

Explaining his analogy, the famed investor told CNBC that people go for insurance even when they know that the policies do not have intrinsic value.

The former chief investment officer at Legg Mason Capital Management Value Trust said that it is exactly this factor (a lack of intrinsic value) that makes people want to get insurance. It’s not because they wish to see their property destroyed or hope to get into an accident, but because the insurance always comes in handy if the calamity ever happened.

„Bitcoin is insurance against financial catastrophe,“ he explained in comments referenced by Insider. 

Miller also commented on his crypto portfolio, noting that his earlier allocation in BTC grew exponentially during the bull market to Bitcoin’s peak in November. Although the holdings had taken a hit during the recent market slump, the investor said he still held a „big position.“

On overall adoption of cryptocurrencies, the investor says the trend will see major banks, endowments, and pensions funds add Bitcoin to their balance sheets. According to him, the move by KPMG Canada is the beginning of a major shift.

Bitcoin was trading around $45,350 at the time of writing, about 3% up in the past 24 hours and over 22% up this past week. Today’s market action saw the cryptocurrency sharply fluctuate as markets reacted to fresh inflation data from the US.

The run to intraday highs above $45,600 included a sharp decline below $44,000, but analysts are bullish the crypto bull market is not over yet. 

The post Bill Miller: Bitcoin is an insurance against financial catastrophe appeared first on Coin Journal.

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Terra (LUNA) jumps 18% in seven days: this is what is fuelling LUNA’s price rise

Terra (LUNA) has seen a tremendous rise over the past week as it tries to correct the recent price drop that resulted from the recent crypto market plunge. At the time of writing, it was trading at $56.30 after a 2.4% rise in the last 24 hours.  

LUNA is the native token of Terra, a blockchain protocol that uses fiat-pegged stablecoins to influence the price of global payment systems. It has a trading volume of $1,202,143,126, a circulating supply of 400 million LUNA coins, and a total supply of 819 million.

Let’s now focus on why the Terra (LUNA) has been rallying in the last seven days.

Forces behind current Terra (LUNA) price rise

One of the reasons behind the current uptrend is the announcement of Terra’s sports sponsorship deal with Major League Baseball’s (MLB) Washington Nationals, a major milestone for the growing blockchain that can be termed as the first-ever decentralized autonomous organization (DAO) vote on sports sponsorship deal in history.

According to last week’s formal proposal from the DAO on Terra’s governance platform to the LUNA community, Terra offered $38.5M for a five-year sponsorship deal for the Nationals.

In the proposal they said:

‘’We started dedicated sports coverage at Bitcoinist last year, and we can firmly say we’ve never seen a sports sponsorship deal quite like this one. It is the first time we’ve seen a community vote through a DAO mechanism – most certainly around a deal secured with a ‘big 4’ league (which consists of the NFL, MLB, NHL, and NBA) in North America… ’We’ve covered quite a bit of ubiquitous sports sponsorship and partnership deals throughout the past year or so, and admittedly, an MLB team was not on our shortlist. The NBA has arguably been the leader in crypto-related deals, including a league-wide deal with Coinbase, and vocal team owner advocates, such as Mark Cuban. Additionally, other headline deals, such as Crypto.com’s acquisition of the downtown Los Angeles arena naming rights, and the NBA’s broader initiatives into blockchain-related properties (think Dapper Labs and Top Shot) have given the league a particularly unique position.’’

MLB has previously worked with Candy Digital and Topps around NFTs; however, the team’s specific deals have been few and the same applies to the NHL and NFL which have also shown limited engagement in blockchain and crypto so far.

For Terraform Labs and Terra, it’s a unique move not only because of the league but also because of its location in the US policymaking, Washington DC.

The deal comes at a time when Terra’s UST stablecoin has established itself as the leading decentralized stablecoin. Terra ecosystem is longing to establish growth that will go beyond the blockchain’s flagship Anchor Protocol product.

In a statement released by the Nationals, Terraform Labs founder Do Kwon stated:

“By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policymakers doing important work in Washington, D.C., about decentralized money and the burgeoning technology that underlies it.”

The post Terra (LUNA) jumps 18% in seven days: this is what is fuelling LUNA’s price rise appeared first on Coin Journal.

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Bitcoin eases off resistance above $45,000: Here’s what top analysts are looking at for BTC price

  • Bitcoin dipped alongside stocks after US inflation came in hotter than expected at 7.5% year over year

  • After dipping below $44k, BTC price recovered to within $45k as analysts outlined potential movements for the flagship cryptocurrency.

The price of Bitcoin broke above a key barrier and traded as high as $45,201 overnight Wednesday, before retreating as the broader market fell during early trades after US markets opened.

Analysts’ take on Bitcoin’s outlook

The drawdown seen earlier took shape as investors digested fresh US inflation data that came in at 7.5% against an expected 7.3% year-over-year. Risk-on assets such as crypto and equities reacted lower, with all eyes now on the Federal Reserve’s rate hike slated for March.

The S&P 500 was down 0.23% and the Nasdaq composite -0.18%, while the Dow Jones Industrial Average stayed just above the flatline.

Crypto trader and analyst Michael van de Poppe observed:

“The Consumer Price Index (CPI) results for the U.S.A. are coming in at 7.5% year-over-year, the expectations were 7.3% year-over-year.$DXY is shooting up and risk-on assets are dropping down like Bitcoin & equities.Likelihood that the FED will start rate hikes in March.”

Crypto trader Cantering Clark says Bitcoin’s dip from intraday highs has brought it back into range. He suggests the cryptocurrency will resume its recent upside momentum if the slip in stocks has also seen a low. For him, the key is for BTC to hold above $43k.

Another analyst, Rekt Capital, says the recent rally may not be over based on the Fear & Greed investor sentiment metric. He notes that at the moment, sentiment towards Bitcoin “is neutral.”

“Extreme Greed precedes local tops. So just based on sentiment alone, this BTC rally may not be close to being over just yet. Key levels such as $43100 & the 50-week EMA flipping into support would confirm this,” he tweeted.

Looking at the BTC/USD weekly chart, the 50-week exponential moving average (EMA) is currently at $44,200.

BTC/USD weekly chart. Source: TradingView

If Bitcoin recovers from today’s slump and breaks above the highlighted EMA and $45k level, analyst Ali Martinez says the main barrier will be around $48,000. Above that, the psychological $50,000 would come into play.

Bitcoin’s inflation hedge status

Bitcoin’s plunge on Thursday alongside stocks saw it continue the high correlation it’s shown with the traditional finance markets since its peak at $69,000 in November 2021. Some analysts say this means BTC is not a better hedge against inflation or as a store of value.

On Tuesday, Bank of America pointed out that Bitcoin was no longer a “good” inflation hedge given its volatility and lockstep trading with the S&P 500 and Nasdaq.

But Gemini co-founder Cameron Winklevoss believes Bitcoin is still the best hedge against inflation, adding to various such calls from within the crypto community and even mainstream investors.

At the time of writing, the BTC/USD pair was hovering around $44,900, about 2% up in the past 24 hours. The cryptocurrency remains positive over the week too, with roughly 22% in gains.

The post Bitcoin eases off resistance above $45,000: Here’s what top analysts are looking at for BTC price appeared first on Coin Journal.

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Concordium lists native token on BitGlobal and Bitfinex

Concordium, a public, proof-of-stake blockchain with a built-in identification layer to meet the regulatory requirements, has officially listed its native token CCD on leading crypto exchanges Bitfinex and BitGlobal, Invezz learned from a press release.

Trading opens on February 10 and 11

CCD token trading will open on Bitfinex starting at 10:00 AM CET on February 10, 2022. Trading on BitGlobal will open on February 11, 2022 at 10:00 AM CET.

Suite of advanced trading features

Founded a decade ago, Bitfinex is one of the world’s oldest crypto trading platforms. It offers a suite of highly advanced and diversified trading features, charting tools, and unparalleled support. BitGlobal offers a user-friendly digital asset ecosystem with increased liquidity and tighter security measures of international standards.

BitGlobal is designed to enable every user to trade, participate, or contribute to the digital assets ecosystem with ease.

Trade CCD for Bitcoin, Ethereum, Tether

Users of both exchanges will be able to exchange CCD for BTC, ETH, and USDT. At first, the exchanges will only support spot trading of the token. The blockchain will bring CCD to more exchanges moving forward, thereby increasing the liquidity of the token and enabling its wider utilization.

Key to blockchain interaction

As the native token of the Concordium platform, CCD is key to blockchain interaction. It can be used to pay for applications via the blockchain’s technology and to pay transaction fees to the validator nodes that secure the network and process transactions. These fees are euro-stable, known in advance, and deterministic.

Classified as payment token by regulator

The Swiss Financial Market Supervisory Authority has classified CCD as a payment token. This means it can be used to settle transactions on-chain, for collateralization, and for all other use-cases applicable in Decentralized Finance (DeFi).

The CCD token will power different ecosystems built on Concordium, lending a special focus on innovation and regulated DeFi as well as decentralized fintech.  

A fair governance structure

The Concordium Foundation will develop and implement a fair governance structure that allows the project to evolve over time. Ultimately, CCD holders will possess the right to vote on-chain in Concordium’s decentralized governance.

The post Concordium lists native token on BitGlobal and Bitfinex appeared first on Coin Journal.