Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

5 Reasons why you should buy Litecoin

Litecoin (LTC) has the potential to make you rich in 2022

Investing in cryptocurrency is slowly gaining traction in the modern world. Though it is still a relatively new venture, cryptocurrency investments have turned a few savvy investors into millionaires. It is always wise to diversify your portfolio to spread your risks when it comes to crypto investments.

There are so many digital currencies now other than Bitcoin and Ethereum. Most investors are unaware of the many altcoins or alternative coins they can add to their packages. Litecoin is one of these coins you can consider adding to your investment. Since it is not as common as bitcoin and ether, you may not know about it too. However, if you are looking for a coin to diversify your portfolio, here are a few reasons you should buy a few Litecoins.

Litecoin is faster than Bitcoin

If you are already into cryptocurrencies, you probably know how transactions happen on the blockchain. Peer-to-peer money transfer is the main reason why most digital coins exist. It means that individuals can send money to each other without needing a third party or intermediaries like a bank or money transfer agency. Bitcoin has been facilitating such transfers hence its popularity, but transactions on its platform are slow and expensive. Developers saw the need to create alternative coins to counter bitcoin’s slow transaction rates. Litecoin is among the many such coins that have managed to increase the speed of transactions, thus attracting many users. Users can process transactions on its platform four times faster than on the bitcoin blockchain. Litecoin might not be the fastest now, but it shows some promising technological developments making it a worthwhile investment. A project that keeps on innovating and evolving is a good investment.

Litecoin has a big market capitalisation

Market capitalisation is the total value of a particular commodity at one point in time. In the case of digital currencies, you calculate this value by multiplying the total number of coins in circulation with its current price. Litecoin is currently trading at about $147 at writing this article, with a circulation of more than 69.3 million coins. Thus, its market cap is approximately $10.1 billion, placing it at number 20 in the cryptocurrency circles. A high market cap indicates that a coin is stable enough to withstand sudden market shocks. The high market cap provides the currency with a cushion that protects it when it becomes highly volatile. It also means that a few whale investors cannot drive the price according to their whims. You can consider having a few of these coins for the long term, knowing that their price will remain relatively stable.

Litecoin is highly liquid

The liquidity of a digital coin is one vital factor that you cannot overlook when choosing a coin to buy. Liquidity is the ease with which you can convert an asset or a commodity into liquid cash. It is critical to invest in a coin that you can sell easily when you need to get liquid cash. It is especially important if you are entering into a short term trade and want to make quick profits with price changes. Litecoin is one of the most liquid coins in the digital coins market. If you want to determine a coin’s liquidity, you can check its 24-hour volume. This volume is the number of coins investors have bought or sold in the last 24 hours. In the case of litecoin, this volume was more than 7.8 million coins, worth more than $1.1 billion. It shows that you could have moved as many as 100,000 units in just 24 hours.

Litecoin has a strong team of developers

There are so many digital currencies at the moment. Research shows that they could now be more than 10,000 coins in the industry today. Most of these coins are temporary pump and dump projects that you should avoid. A good development team means that the coin is a serious project with future prospects. It also means that it is well adaptable to technological advancements to sustain its presence in the market.

That said, litecoin is among the serious projects in this industry. It has a team of experienced and skilled developers to ensure its continuity. The main developer was an engineer at Google and Coinbase. He is backed up by a team that has seen litecoin surpass bitcoin in terms of speed and efficiency. The team was the first to use the Segregated Witness update and also featured Lightning Network. Such developments make a coin worth investing in, knowing that it could be something big and valuable in the future.

Large corporations are using Bitcoin

When large corporations accept using a digital coin, they have identified some useful features in that coin. These corporations infuse confidence in investors and stir up the coin’s value as its demand increases. Litecoin is now working with UFC (Ultimate Fighting Champion), gaming giant Atari and Overstock.com. These companies allow their clients to pay for goods and services using Litecoins. Having such an acceptance has catalysed the growth of this digital currency. It has spurred its demand making its value grow in the last few years. Blockchain technology is slowly changing the gaming industry, and litecoin is part and parcel of this growth. It would, therefore, be wise to invest in such a future.

The post 5 Reasons why you should buy Litecoin appeared first on Coin Journal.

Veröffentlicht am

Top 10 cheapest cryptocurrencies to buy right now

Cash doesn’t have to limit you from trading cryptocurrencies. No matter how much you earn, with as low as a few cents, you can begin your crypto investment journey.

If you have some cash to spare, consider these top 10 cheapest cryptocurrencies you can buy right now.

1. VeChain (VET)

The price of VeChain (VET) as of December 28, 2021, is $0.09. Imagine what you can do with just $100. But even besides the price, VeChain is functional in finance and other fields.

VeChain allows businesses to digitally collaborate to aid swift data transfer and supply chain management. BMW, LVMH, ND Walmart are some of the corporations using the VeChain blockchain for their operations. The blockchain uses the proof-of-authority mining model. It has a limited supply of 86.7 billion VET tokens.

VeChain is ranked 32nd with a market cap of $6b; having such a low cap means it is still bound to grow. It reached an all-time high of $0.28 in April 2021.

2. Dogecoin (DOGE)

With the buzz around the Dogecoin (DOGE), it is still very cheap to invest in. The price of Dogecoin was $0.18 as of December 28, 2021. It is ranked 12th with a market cap of $24b. It is predicted that DOGE might hit the $1 mark by mid-2022, so there’s so much potential for gain.

Tesla’s boss- Elon Musk announced his support for the token and desired to work with the developers. This increased its price to $0.73 in May 2021. Although there are still concerns around its limitless supply, it is a cryptocurrency as it can be traded and used to store value.

A total supply of 100 billion DOGE was released at the time of launch. However, due to its inflationary status, over 5 billion DOGE has been released yearly ever since. 

3. Cardano (ADA)

Cardano is still very cheap, considering its prospects. Its price as of December 28, 2021, is $1.51. It is ranked 6th with a market cap of $48.4b. It has a total supply of 45 billion, with 32.1 billion currently available. In September 2021, it reached an all-time high of $3.09.

Cardano, developed by Jeremy Wood and Charles Hoskinson in 2017, is a third-generation blockchain. It is the first protocol to utilise Ouroboros- a proof-of-stake algorithm. It aims to be secure, flexible, scalable, energy-efficient, and it also happens to be one of the cheapest and most promising cryptocurrencies right now.

4. Decentraland (MANA)

Decentraland’s price as of December 28, 2021, is $3.67. It is ranked 42 with a $4.8b market cap. There is a total supply of 2.2 billion with 1.3 billion currently in circulation.

Decentraland is the first decentralised platform owned entirely by its users. It is a 3D world. It has been in development since 2017 by the Decentraland Foundation, founded by Esteban Ordano and Ariel Meilich. However, it was made public in January 2020. Decentraland is a virtual world (metaverse) built on the Ethereum blockchain. As it stands, it is one of the cheapest cryptocurrencies you can invest in at this time.

5. Polygon (MATIC)

The price of MATIC as of December 28, 2021, is $2.65. It is ranked 14 and has a market cap of $18.2b. Out of the 10 billion set for total supply, 6.9 billion is already in the market. It reached an all-time high of $2.92 on December 27, 2021.

Polygon was formerly known as the Matic Network when it was created in 2017 in India. But it was rebranded as Polygon in February 2021. It is a layer-2 blockchain protocol created as an add-on layer for the Ethereum blockchain. It was to help it increase in size, efficiency, security, interoperability, and usability.

6. Polkadot (DOT)

Polkadot is a blockchain where users can create and run their blockchain. As of December 28, 2021, the price of DOT is $29.40. There is a total supply of 1.1 billion. It peaked at $54.98 in November 2021. It is currently ranked 10th with a market cap of $31.4b.

 It is a „blockchain of blockchains.“ It was developed to solve the blockchain trilemma- security, scalability, and decentralisation. The blockchain has two structures- relay chain (the main network where transactions are processed) and parachain (user-blockchain that uses the main network’s resources). 

7. Chainlink (LINK)

Chainlink is an oracle framework of nodes that make data and information from off-blockchain sources available to smart contracts. LINK’s price as of December 28, 2021, is $22.19, and it is ranked 19th with a market cap of $10.3b. 467 million of the 1 billion total supply is currently being circulated. It reached an all-time high of $52.70 in May 2021.

8. Fantom (FTM)

The price of FTM as of December 28, 2021, is $2.27. In October 2021, it peaked at $3.46. It has a total supply of 3.2 billion, and 2.5 billion is currently in the market. It is ranked 33rd and has a market cap of $5.79b.

It is a blockchain for dApps and digital assets. It is a modular, high-performance, scalable, secure, open, and eco-friendly smart contract network. The consensus mechanism of this blockchain is made up of Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS), and it is called Lachesis. Like Ethereum, it has Fantom Virtual Machine for developing dApps. FTM is its native token. Asides from being a mainnet coin, it is available as an ERC-20 token and a BEP-2 token.

9. Shiba Inu (SHIB)

 The price of SHIB as of December 28, 2021, is $0.00003562. It rose to $0.00008616 when Elon Musk posted a Floki, a Shiba Inu dog, on his Twitter. It is currently ranked 19th with a market cap of $19.7b. There is a total supply of 100000 billion, and 549149.6 billion is currently in circulation.

Shiba Inu is a meme coin associated with the Japanese Shiba Inu dog. It is an Ethereum-based token. The Shiba Inu ecosystem consists of three tokens, including SHIB, LEASH, and BONE. ShibaSwap, Shiba Inu Incubator, and Shiboshi are platforms that exist in the ecosystem. Although it has limited uses, it has a very low price and would make good returns in case its price skyrocket in the nearest future.

10. The Sandbox (SAND)

The price of SAND as of December 28, 2021, is $6.07. Out of the 3 billion total supply, 919.5 million us currently in circulation. In November 2021, it reached an all-time high of $8.40. It has a market cap of $5.6b and is ranked 35th.

The Sandbox is a play-to-earn metaverse built on the Ethereum blockchain. The metaverse is made up of VoxEdit (a platform where users can create and animate 3D objects), the Sandbox Marketplace (a place where assets can be published and traded), and Game Maker (an application that allows users to create 3D games for free). The ecosystem is powered by an ERC-20 token- SAND. It is used to trade ASSETS, play games, buy LANDS, and create avatars. It can also serve as a governance token that can be used on the Sandbox DAO.

Before you buy any of these coins, ensure you’re only using your spare cash. Crypto is a very risky investment. You can easily profit as much as you can easily lose from it. Do your research and use dollar-cost averaging before buying any coin.

The post Top 10 cheapest cryptocurrencies to buy right now appeared first on Coin Journal.

Veröffentlicht am

Blockchain stays even if most projects fade, says Reddit co-founder

  • Alex Ohanian says that even if a majority of crypto projects and companies disappear, the underlying blockchain will remain and power the next innovations in the space.

  • He urges investors to do due diligence before they take investment positions, and generally look at the long-term view of the project in question.

Reddit co-founder Alex Ohanian has weighed in on the topic of blockchain technology, noting in a CNBC interview that he believes the tech is “real” and “here to stay.”

His comments come at a time the crypto market is facing a rough patch after what many say has been a year of staggering growth- both in the gains made by investors and in the key crypto innovations to have exploded onto the scene.

While he notes that some, or even most of the cryptocurrencies might not survive going into the future, he believes the underlying blockchain technology will remain the bedrock of further innovations in the industry.

Ohanian was one of the early investors in the space, having put a bet on the crypto exchange Coinbase during its seed round in 2012. He says he’s been around quite long enough to have seen what the industry is like, and his take is that blockchain has a future.

Noting that the technology underpinning cryptocurrencies is “real”, he added, telling CNBC’s Shepard Smith:

“You need to look no further than just all of the really talented people, as you said, leaving in droves from Big Tech to go be a part of this and go build.“

According to Ohanian, there remains a lot to be done in the industry, with volatility one of the main issues facing investors. However, he’s categorical that the crypto space is “here to stay” when it comes to the technology.

Blockchain stays- even if most projects crash and disappear

On the issue of the proliferation of cryptocurrencies, the Reddit co-founder agrees that a majority will probably fade. He says this will happen, be it with some blockchain projects or most offerings in newer segments such as decentralised finance (DeFi) or the non-fungible token (NFT) world.

But he says that as with any other technological developments over the years, consolidations do occur as some companies fade. He says that this is also true of crypto, where there are a few “big winners” and most others that will fade.

However, despite the outlook, he maintains that alternative assets are set to be a big part of people’s investment portfolios.

His opinion, though, is that it is important for anyone looking to be a part of the investment space to undertake thorough research first before they invest. Also critical is to have a long-term view of the venture.

The Seven Seven Six venture

Ohanian is also the founder of Seven Seven Six, a US-based venture capital firm that focuses on investing in early-stage and growth start-ups across four areas- community, climate, crypto, and culture.

The firm recently invested in a firm called EarlyBird, which allows people to create accounts through which they can invest in their children’s future as well as offer them financial literacy.

The post Blockchain stays even if most projects fade, says Reddit co-founder appeared first on Coin Journal.

Veröffentlicht am

Brian Kelly on 3 “under-the-radar” metaverse tokens to watch in 2022

The investor says Axie Infinity, The Sandbox, and Decentraland could explode again amid network growth and the metaverse hype.

“Fast Money” trader Brian Kelly has highlighted three coins he says he’s been tracking and which he believes have the potential to see greater adoption and price increase long term.

According to the crypto investor, the three “under the radar” projects are all metaverse-linked – in the gaming or virtual world sectors. He told CNBC’s post-market show that these are tokens he’s been watching and which he believes are set to outperform as the underlying networks mature.

He also highlighted that as the metaverse idea takes solid shape, a lot of interest is likely to be around Ethereum and Solana, blockchain networks that could see significant activity related to the metaverse. The investor also sees opportunities in layer 2 protocols or decentralised applications (Dapps).

Kelly says his top picks for trading opportunities are play-to-earn (P2E) token Axie Infinity (AXS), metaverse and NFT linked The Sandbox (SAND), and Ethereum-powered decentralised virtual reality token Decentraland (MANA).

He believes these tokens’ value will keep increasing as the space grows, noting that it’s all about the network effect. He noted:

“Just as Facebook [Meta] grew, the price of its stock grew and as these networks grow – these virtual worlds grow – the value of the underlying currency needs to grow to service that underlying economy.”

Axie Infinity (AXS)

On Axie Infinity he says that the gaming token’s explosive growth this year has more and more people looking to play, and as the network grows, so does the value of the underlying token AXS. The token’s price is up 16,819% this year, with its value against the US dollar around $95.48 (as of writing) according to data from CoinGecko.

The Sandbox (SAND)

The Sandbox (SAND), also Kelly’s top pick among tokens trading “under the radar” currently trades around $5.89 and has soared 15,561% this past year. The Sandbox is a Roblox-like decentralised virtual world that allows for gaming and trading of tokens, with participants taking true ownership of assets through non-fungible tokens (NFTs).

Decentraland (MANA)

BK, as he’s commonly referred to on the CNBC show, is also bullish on MANA, the native token in the Decentraland virtual world. With MANA, holders can buy real estate, develop it and monetize it, and do “a lot of other different things” in the virtual world economy.

MANA currently trades around $3.34, about 30% down over the past month. However, the token’s value has spiked over 4,000% in 2021.

The post Brian Kelly on 3 “under-the-radar” metaverse tokens to watch in 2022 appeared first on Coin Journal.

Veröffentlicht am

Market highlights December 30: Cryptos seen lower, US markets edge higher

The crypto market as a whole is bearish as the year comes to an end. It was in the red over the past 24 hours, as the top 10 cryptos were seen lower at the time of writing. The three major US indices edged higher yesterday as the SPX500 rose 0.14% to finish the session on another all-time high. The UK100 hit a 22-month high yesterday, its highest level since February 2020.

Top cryptos

Bitcoin was down approximately 2%, trading below $47,000 this morning. Ethereum and XRP were down around 3%, while Solana registered losses of approximately 6%. Uniswap, yesterday’s only gainer in the top 20, is reversing wins. It’s down 9% so far today. The next-ranking coin (19), Algorand, is its complete antipode, up 11%, and the biggest winner in the top 20 cryptos by market cap.

In other crypto news, Binance Holdings announced yesterday it has received initial approval from Bahrain’s central bank to become a crypto service provider in the Middle Eastern country. This regulatory nod from Bahrain could bring cryptos to higher trading volumes, and according to Shark Tank’s Kevin O’Leary, could drive crypto prices higher.

Top movers

XinFin (XDC) is an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The XDC protocol is architected to support smart contracts, 2000TPS, 2 seconds transaction time, and KYC to masternodes. The XDC blockchain uses XinFin Delegated Proof of Stake with the intent to create a highly-scalable, secure, permission, and commercial grade blockchain network. XDC is the biggest gainer in the top 100 today with value growth of 15%.

Following continuous improvements to the ecosystem and a series of lucrative partnerships, the price of NEAR Protocol is only going up. Today, it has gained 14%.

The creators of Cosmos describe it as a project that solves some of the “hardest problems” facing the blockchain industry. It’s up 9% in the last 24 h.

Monero has been rising steadily since it made good on its promise of a decentralized exchange built on privacy, speed, and low fees. It’s up 7% today.

Most of the other coins are down by 1-6% today. At #98, ICON continues reversing gains. It has lost 14% in the last 24 h.  

Trending

SORA Validator Token (VAL) is the token of the SORA network, which is said to excel at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other chains, and creating programmatic rules involving digital assets.

SORA joined the Kusama parachain auctions and interoperability between the existing SORA network and the SORA Kusama parachain network will be enabled via a bridge. The VAL token gained 4,140% today, possibly on news of securing a slot on Kusama.  

The post Market highlights December 30: Cryptos seen lower, US markets edge higher appeared first on Coin Journal.