Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Solana price recap: UniLayer CEO says SOL is attracting investor attention

Solana price rose to an intraday high above $41.00 on Friday as the crypto market registered some gains following a brutal start to the week.

The digital asset, which is ranked 9th among the largest cryptocurrencies with a market cap of $13.6 billion, surged from lows of $36.65 to hit $41.04 according to data from CoinGecko..

The cryptocurrency has experienced a bullish move over the week, with SOL/USD having traded at around $27.64 on 19 June.

Solana price jumps on Saga phone news

On Thursday June 23, Solana Labs, the platform behind the development of the Solana ecosystem, released a major reveal that coincided with SOL price going up.

The hot news concerned the launch of Saga, a flagship crypto-focused smartphone designed to help drive Web3 adoption, including the use of NFTs.

The news was a boost not just to Solana, but the wider crypto ecosystem, Alex Belets, the CEO of UniLayer Network, a L1 blockchain and interoperability platform, told CoinJournal.

Solana is attracting investors

While the current market conditions do not offer so much to smile about, Belets says Solana could be having a different story building up.

“It’s difficult to be bullish about any token in the current market, but Solana does continue to attract investor attention,” he added.

Positive news this definitely is for an industry that has seen so many negative headlines. However, Solana still has a big challenge that it must address – how to handle massive traffic that often ends with the network outages.

So while investors continue to bet big on the platform, Belets says one interesting thing to watch out for is “how developers tackle this critical issue in the face of a smartphone launch“

SOL/USD is nearly 10% up on the day at $40.12 (as of writing), while the upside has Solana trading more than 32% higher since its weekly low.

SOL trading volumes have also jumped, with 24-hour trading volume up by more than 13.6%. The market cap has increased by over 8% in the same period.

The post Solana price recap: UniLayer CEO says SOL is attracting investor attention appeared first on CoinJournal.

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Mogul Productions and Trace Network Labs partner to bring Movies to the Metaverse

Mogul Productions, the decentralized platform that seeks to promote NFTs and DeFi in the movies and entertainment sector, is going big on the move with a new partnership. 

As announced on Friday, the firm has signed a major partnership with Trace Network Labs to help bring the movie experience to the metaverse.

Growth in the NFTs and Metaverse sector

Blockchain technology has completely changed the landscape when it comes to digital avatars, whose growth trajectory, to state the least, has been on an upward trajectory since the 70s.

Today, digital avatars and the non-fungible token (NFT) and metaverse space are shaping interactions virtually across every aspect of life.

According to an industry expert’s observation highlighted by CoinJournal, “The metaverse will bring true value for digital assets, mainly in the form of NFTs. It will give people the ability to recreate themselves in any shape or form they would like and to reinvent their identity altogether. It will bring to life digital pets of all kinds.”

Mogul Productions and Trace Network want to drive the next level of growth in this sector through their partnership. Essentially, Mogul wants to bring the movie experience and movies to the metaverse.

Use NFTs to experience the Metaverse

Some of the most popular NFT collections in the world today have seen millions of dollars in sale volumes, with the creators of blockbusters such as the Bored Ape Yacht Club, CryptoPunks, and Azuki helping unlock a whole range of success stories.

Alongside this, there has been the steady drive towards the reality of the Metaverse, a virtual world where real-life humans can interact and do pretty much everything else via avatars. 

While tech giants such as Meta Platforms, Apple Inc and Google are all working on delivering the metaverse, the entertainment space is already seeing events in the virtual world. 

Mogul wants to use its partnership with Trace to help drive this to the next level, with NFTs at the heart of it. Notably, the platform wants to allow individuals to mint their own avatarsand use them in the metaverse to experience events such as film premieres.

The collaboration will also see Mogul’s Cinematic Metaverse expand to provide users with new features such as branded wearables and other Mogul products.

With these, users can unlock several exciting experiences, including access to exclusive “Behind The Scenes” events – all in the metaverse.

The post Mogul Productions and Trace Network Labs partner to bring Movies to the Metaverse appeared first on CoinJournal.

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Interview with Decred Project Lead Jake Yocom-Piatt

The CoinJournal podcast sat down with Jake Yocomm-Piatt, who formerly worked on Bitcoin before fleeing to co-found Decred, which is now a top 100 coin. 

Our discussion meandered through the topics of Bitcoin, self-sovereignty, and Central Bank issued digital currencies (CBDC’s), often taking a philosophical angle and hypothesising about what the future may hold. Personally, it was fun to examine the potential dystopian scenario of CBDCs being used for malevolent purposes, and how sovereignty over ones money is such a vital factor in today’s world. 

We also touched on how this bear market differs from previous cycles and the issues driving the macro climate, including diving deep on money printing. 

Of course, you can’t talk about crypto these days without mentioning some of the knock-on effects of the contagion triggered by the Luna and Celsius insolvencies, and how regulation could protect (or even harm) consumers going forward. 

Full interview is below – enjoy! 

The post Interview with Decred Project Lead Jake Yocom-Piatt appeared first on CoinJournal.

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Bybit CEO makes soft proposal for the development of BitDAO’s L1 Infrastructure

Bybit co-founder and CEO Ben Zhou is leading a proposal for the development of the platform’s BitDAO Layer 1 infrastructure, the exchange said in a press release.

The soft proposal, launched via the official BitDAO Discourse forum, envisions the creation of a new L1 blockchain to tap into investment opportunities in various Web3 verticles.

At the moment, BitDAO has a footprint across several gaming,  Ethereum scaling, blockchain education and art curation.

“This proposal aims to open new avenues for high-value collaborations generated from ground-up demand and support, which is true to BitDAO’s mandate,” Zhou noted.  He believes such developments will help further the adoption of crypto.

“Bybit supports BitDAO’s vision in being a changemaker for all changemakers. In collaboration with BitDAO and its community, we look forward to propelling the mass adoption of open finance to greater heights and shaping the future of the industry.”

Zhou has encouraged the community and other parties to contribute to the discussion, including in research and development. The new project will utilize BitDAO’s native token BIT.

The post Bybit CEO makes soft proposal for the development of BitDAO’s L1 Infrastructure appeared first on CoinJournal.

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THORChain RUNE price is up 10% today after this development

THORChain RUNE price has surged by more than 13% today to hit a daily high of $2.29 today.

At the time of writing, the coin has slightly pulled back to $2.28 although the bullish momentum seemed to be gathering momentum every minute.

Today’s price surge comes after a tough week that had seen THORChain RUNE price drop from a high of $2.0197 to a low of about $1.76.

Why is THORChain RUNE price rising?

The main reason for today’s surge in the price of RUNE, the native token of ThorChain, was the successful launch of THORChain’s mainnet on seven different networks.

In a nutshell, THORChain enables decentralized exchanges and its users to move crypto assets seamlessly, and launching its mainnet on different blockchains expands the DEX’s reach.

Currently, there is a little over $300 million in total value locked (TVL) on THORChian.

THORChain is currently the only blockchain network that is capable of facilitating decentralized swaps across multiple blockchain networks without using smart contracts. And according to the DEX, it is able to accomplish this without compromising the security of the users’ assets.

In a recent interview with a news outlet, the Technical Lead at THORChain, Chad Barraford, said that although cryptocurrencies are normally decentralized, the majority of trades take place in centralized exchanges and THORChain was out to ensure that cryptocurrencies are traded in a decentralized peer-to-peer manner.

How THORChain functions

Instead of using smart contracts for the swaps, THORChian runs liquidity pools between various blockchains thus avoiding using wrapped tokens, which are mainly associated with smart contracts and mostly expose users to hacking risks.

Currently, THORChain supports the swapping of tokens across Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Binance, Litecoin, and Itself.

Notably, despite the steps that THORChain has taken to ensure security, the network has been a victim of a number of hacks with the most recent being a hack that took place in July 2021 leading to a loss of about $8 million.

Moving to its own mainnet has not only impacted the THORChain RUNE price but will also enhance the security of the network and avoid future attacks.

The post THORChain RUNE price is up 10% today after this development appeared first on CoinJournal.