Kategorie: Crypto News

• The Sandbox SAND has gained 43% in the past week.

• Major organizations are building a virtual reality world in the Sandbox.

• The SAND token could rise further if price rejects decline below $1.1.

Sandbox’s SAND/USD is showing renewed hopes. The metaverse token has returned 43% in 7 days. The return is the second-highest in the top 50 cryptocurrencies by market cap. SAND’s gains have been fueled by activity on the blockchain, alongside improving crypto sentiment.

The Sandbox is a blockchain that aims to power entities and individuals to the metaverse. The virtual world enables users to build, own, participate, and monetize their virtual experiences. The Sandbox is an enabler to the metaverse world. Its native token, SAND, is crucial in conducting transactions on the blockchain platform.

The Sandbox has lived to the expectation of a virtual world enabler. Large organizations and celebrities have partnered with the blockchain to move to the metaverse. The latest partnership was with TIME Magazine around a week ago. TIME said the partnership would catapult the brand to a virtual world in The Sandbox. These developments are fueling SAND’s rise alongside an improved sentiment. Investors should, however, watch key levels.

SAND/USD technical analysis

Source – TradingView

Technically, SAND hit resistance at $1.33. Investors could be taking profit after the week’s-long rally. The crypto-token will proceed down to find support at $1.1. However, with the uncertain crypto landscape, SAND could break below the support. If that happens, then the token could crash to the next support at $0.96. If the $1.1 support holds, investors could ride another fresh rally to the $1.33 resistance.

Summary

Investors should watch SAND at $1.1. A buy signal would be triggered if the level holds and crypto sentiment remains robust. A break below would see the token crash to $0.96.

The post The Sandbox token could slide below $1 if it breaks below the key $1.1 level appeared first on CoinJournal.

Avalanche and Solana’s core metrics give them a clear path for growth.

Key Points:

• Avalanche subnets make the network attractive for use cases in Web 3.0. 

• Avalanche’s double-digit price jump last week point to its high potential if bulls retake the market this year.

• Solana network remains stable, a factor that could be a confidence booster now that the market is trading at record lows. 

As the market bounces from seemingly the worst cryptocurrency meltdown in years, it is time to start looking for cryptocurrencies that hold the most potential in the future. That said, the market is not entirely out of the woods yet. As such, it would be best to focus on the big cap low-risk cryptocurrencies for now. Among those that hold the most potential for gains are Avalanche and Solana. Here’s why. 

Avalanche – A scalable and reliable layer-1

Avalanche (AVAX) is proving to be one of the more successful layer-1 blockchains in the market today. It can comfortably handle over 4500 transactions per second and is always stable. Over the last year, these traits have seen the number of Dapps opting to run on Avalanche increase significantly.

At the same time, Avalanche is working on upgrades that could see it scale even better going into the future. One such upgrade is the subnets, which allows users to customize how they can use the blockchain to suit their purposes. 

For instance, with the Avalanche subnets, it is possible to create a network limited to a specific geographical area or features such as KYC. These features could open up a whole load of use cases for Avalanche, especially in the finance world. 

It is not surprising that Avalanche emerged as one of the top performers in last week’s mini-rally. It’s an indicator that if the market makes a full bullish recovery, AVAX could emerge as one of the year’s biggest winners.

Solana – Beyond the 2021 issues

Like Avalanche, Solana (SOL) rallied quite strongly in last week’s mini-rally, indicating that it is on the investor’s radar. Solana’s potential to rebound in 2022 is not just a matter of speculative buying. There are a lot of fundamentals behind it.

In the platform blockchains space, scalability is critical, and Solana is a winner on this front. The Solana network can handle up to 50k transactions per second at a negligible cost of just $0.01 or lower. 

This has seen Solana’s uptake rise sharply, especially for minting NFTs. Solana DeFi projects are on the rise, too. This growing demand will play a significant role in the value of SOL tokens going into the future.

Most importantly, the Solana network seems to have overcome the issues it was dealing with last year, mainly related to network outages. This is a big deal as the network outages were a big contributor to Solana’s price drop, over and above the broader market correction.

The post Large cap cryptocurrencies to watch in H2 of 2022 appeared first on CoinJournal.

Mangata Finance, the decentralised exchange (DEX) on Kusama, has been valued at $13 million following the conclusion of a bootstrapping event. Of particular note is the timing, as the funding comes as the crypto market continues to trend sharply downward. 

“The whole team is very proud of the result. Against all odds of the bear market, we have shown that hard work and relentless focus on capital efficiency and fairness pay off,” said Peter Kris, founder of Mangata Finance. 

The goal

­The goal is ambitious, but one that has thus far been elusive in the world of decentralised exchanges: to offer a solution where all chains are offered on a single platform. Bear markets are the time to build – many of the current blue-chip projects were assembled during the last bear run, and there is no reason to believe that this time will be different.

A downtrending market isn’t fun, but it does offer the benefit of being able to focus more on utility and a roadmap rather than price-watching, while only the formidable projects tend to stick around.

“We have laid the groundwork for a DEX that serves the whole Dotsama ecosystem. We will bring liquidity and token velocity to all Web3 projects on a single platform. The Mangata X community now has over 1,000 members. All of you are now co-owners of Mangata X,” Kris continued. 

Details

More than 12,000 KSM have been contributed to Mangata X bootstrap, bringing the total value locked in the protocol to $1.25 million and $3.27 million in market cap. 

The Mangata team estimates the initial liquidity mining rush to offer a 78% APR. This rate is expected to further increase to as high as 129% APR once the protocol turns on its “Stake Once, Earn Twice” Proof-of-Liquidity mechanism. Over the long term, tokenomics will emit 67.5% of the maximum supply to liquidity provision.

These are large numbers, and ones that investors will be warier of now given some of the death spirals experienced by various crypto projects over the last few months. While it is too early to give judgment on this project yet, the technicals are interesting, even if investors need to be cautious here.  

As a next-generation DEX, Mangata is a Layer 1 app-chain building on Substrate, and it is not bound by legacy restrictions. Parity Technologies’ Substrate modular framework allows developers to select particular components that suit their application-specific chain best. This is why Mangata claim they can customize the rules of the chain to optimize the whole ecosystem, theoretically improving capital efficiency and fairness. 

Miner-Extractable Value

Miner-Extractable Value (MEV) is a dynamic where blockchain miners extract profits at the expense of users by arbitrarily reordering, including, or excluding transactions within a block. Because miners can determine the order of transactions processed on the blockchain, this can obviously be exploited. 

Many projects have been trying to solve this issue. Mangata, if successful, hopes the project can prevent MEV insider trading and inhibit this censoring or affecting the order of transactions by miners. 

Additional Features

The project is also slated to open channels to parachains like Karura, Bifrost, Turing, Statemine, and many others.

Regarding the Mangata X community, they will be involved in all of these steps through user experience interviews and community calls that allow users to have a say in the prioritization of features, with genuine decentralisation as the aim.

Mangata is also striving to fill the gap as a cross-chain trading platform, enabling the trading of Ethereum ERC20 tokens with native Polkadot assets. Additionally, the project looks to improve efficiency by a rather novel consensus Proof of Liquidity. 

 Besides solving key insider trading problems, Mangata is focused on DEX adoption by mainstream and institutional finance, which requires reliable and transparent rules and brings open access to DeFi to the people.

 A summary of the overarching goals can be seen in the ownership of the network. The distribution of 19% of MGX supply is far superior to the usual 1-2%, allowing the ecosystem to have a genuine stake in the Kusama DEX. 

The post Mangata Finance valued at $13 million following bootstrapping event appeared first on CoinJournal.