Kategorie: Crypto News

• The crypto market cap could surpass $9.6 trillion if BTC hits $200k, the report said.

• Meanwhile, the price of Ether (ETH) could climb as high as $12,000.

• Cardano, Avalanche, and Terra are also investments worth watching, FSInsight’s head of crypto strategy noted.

Bitcoin’s latest price action has seen it bounce strongly above multiple resistance levels, with intraday gains on Monday pushing the king crypto above $44,000.

Analysts are bullish about the cryptocurrency’s chances of breaking higher, pointing to potential continued correlation with stocks.  

Fundstrat’s FSInsight predicts that the price of Bitcoin could rally to $200,000 in 2022, citing increased inflows from the legacy markets into crypto.

In a report titled “Digital Assets in a Post-Cycle World”, FInsight’s Head of Digital Asset Strategy Sean Farrell noted that Bitcoin could see more choppiness in the first six months of 2022.

However, the research and financial investment providers see BTC rallying to $200,000.

Metrics likely to support the outlook include increased buying occasioned by Bitcoin’s recent dip. Negative real yields and the potential of the market seeing a return to risk-on appetite are also likely to play a role, the investment strategist added.

On Ethereum, FSInsight says its 30%+ rally over the past week or so has the cryptocurrency close to a key resistance area.  But the platform thinks ETH is undervalued and the switch to proof-of-stake could be one of the catalysts that trigger a big move to $12,000 this year.

Other than the top two, tokens native to layer 1 networks such as Avalanche (AVAX), Solana (SOL), Terra (LUNA), and Cardano (ADA) are likely to see a fresh upside in the second half of the year.

Non-fungible tokens (NFTs) and Web 3 applications are also on the platform’s radar, with Livepeer, Filecoin and The Graph among those investors might want to watch.

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Antoni Trenchev says the Fed is unlikely to be as aggressive as expected and “cheap money” will likely continue to flow into crypto

Nexo co-founder Antoni Trenchev thinks 2022 will be a choppy year for Bitcoin and the broader crypto market.

However, he also believes the availability of “easy money” will continue to work in favour of cryptocurrencies. And he sees the gains for crypto assets linked to this scenario, even as he pointed out the correlation between cryptocurrency markets and stock markets.

In an interview with CNBC on Monday, Trenchev said that increased investment into the crypto ecosystem is one of the reasons there’s greater lockstep trading with equity markets. But this, he added, is a signal to growing adoption and that can only be good for the sector.

Touching on the broader market outlook in relation to the US Federal Reserve’s incoming interest rate hikes, Trenchev said:

“You know I have been very skeptical as to the actions of the Federal Reserve and the proposed rate hikes [and] how that ultimately will unfold. My take is that cheap money is here to stay, and this is very good for assets such as crypto.”

The Nexo executive says that the Fed might not be as aggressive as it is expected, despite projections from Bank of America and other analysts on seven or more interest rate hikes in 2022.

According to him, inflation is expected to rise further as the consumer price index surges to 7.2%.

He told CNBC that the last time inflation raced this fast was in the 1980s, and what the Fed did then was to hike rates 20%. This year, he points to forecasts of 3% in funding rates as an indication that the US central bank won’t be that aggressive.

The Fed, he says, has its work cut out with an” $8 trillion balance sheet they are holding on their books.”

Bitcoin price soared in 2020 and 2021 as governments implanted monetary policies that poured trillions of dollars into the economy, with a lot of it ending in crypto investments. The outlook, according to Trenchev, remains a possibility in 2022.

Trenchev also commented on the metaverse and non-fungible tokens (NFTs), noting that the whole ecosystem has the potential to benefit cryptocurrencies.

The post Nexo co-founder: “Cheap money” is here to stay and that’s ‘good for crypto’ appeared first on Coin Journal.

• The FTX app allows users to stake their supported balances.
• Staking on FTX and earning rewards is quite simple.
• This guide offers a step-by-step process on how to stake on FTX.

The DeFi (decentralised finance) sector has largely popularised the ability to stake cryptocurrencies in order to earn passive income. This is something that can now be done on most blockchains that offer smart contracts, including Ethereum, Solana, and others.

Of course, staking is also possible on simple to use cryptocurrency exchanges, such as the FTX Exchange. FTX has its own application called the FTX app that allows you to stake your supported balances and earn up to 8% APY.

For the moment, the program is still in beta, and during beta, users will be able to earn a bonus on applicable assets. Staking with FTX is quite simple: you stake your cryptocurrencies and earn rewards on the amount staked. 

If you are not familiar with staking, it is like earning interest on money that you hold in your bank account. FTX offers a lot of flexibility for stakers, including the ability to unstake their coins at any time. 

If not, stakers can earn up to 8% on the amount staked, although this can vary.

What do you need before getting started?

Before you can get started, there is a short list of requirements — simple things that you need to do and prepare before you actually lock up your cryptos. Make sure that you have:

• An account on FTX Exchange, or if you are in the US — its FTX US app (The US version of the FTX website does not offer staking, but the app does).

• A cryptocurrency wallet that supports the tokens you will be working with, such as Ledger Nano X.

• Cryptocurrencies for staking, which you can import from a private wallet, or buy on the exchange. Some of the more popular cryptocurrencies that investors prefer staking include FTT, SRM, SOL, RAY.

Note that:

• Assets available for staking will be shown in your FTX US account

• You do not have to buy coins on FTX if you already own them in a private wallet

• You can instruct FTX US to un-stake your coins at any time, retrieve them, and credit it (along with all earned rewards) to your account. 

• FTX accepts users from US and non-US jurisdictions. The difference is that US traders do not have access to derivatives yet, and the US version instead focuses on standard crypto trading.

How to stake cryptocurrencies on FTX US

Staking cryptocurrencies through your FTX app is fairly simple, and all you need to do is follow a few simple steps.

1. Ensure that you have cryptocurrencies available in your app. Once again, these can be bought within the platform itself, or deposited from your private wallet.

2. Next, locate the Invest Tab, and tap Stake.

3. After that, you need to find and tap the button that says Stake Your Crypto.

4. Finally, put in the amount and tap Start Staking

5. The app will transmit digital currencies to the applicable DeFi pool as soon as one is available, and you will start receiving rewards on the coins you staked.

How are rewards determined?

Rewards that you will receive from staking are not fixed, and they will vary from time to time based on several factors, such as the conditions in the crypto industry and the prevailing market conditions. 

However, according to historical and current conditions, it is anticipated that your first $10,000 USD staked should earn approximately 8% rewards.

Amounts higher than $10,000 will bring back approximately 5%, although keep in mind that these are simply projections and expectations, and not actual amounts. The actual reward might differ.

Final thoughts

Staking has grown to be a very popular way to use your cryptocurrencies without spending them or risking them in trade. 

At the same time, FTX has proven to offer excellent staking conditions, as well as a user-friendly platform that allows even newcomers to quickly and easily find their way around. And, once the rewards start coming in, you will realise just how easy it is to use your money to make more money without having to do anything or get exposed to unnecessary risks.

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