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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Top 3 meme coins to put on your watchlist today

Over the years, meme coins have become part and parcel of the crypto universe. While there have been many such coins released in recent times, only a handful have gone on to become huge. For this reason, it is always important to do extensive due diligence before you buy into a meme coin. Nonetheless, here is why these coins should be on your radar:

  • Meme coins have the potential to grow very fast within a short time.

  • Most meme coins are also adding more utility to their ecosystems.

  • These coins can also be adapted to crypto payment systems with ease.

So, for those of you keen on investing in a few meme coins, we have three options here below that should be just perfect.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is no doubt the most popular meme coin in the world. In 2021, SHIB made a lot of people rich and continued to rank as one of the biggest coins in terms of market cap. With this big-name recognition, investing in SHIB offers relatively less risk. Data Source: TradingView 

Also, Shiba Inu has been adding more features to its ecosystem. It’s not just a meme coin. There are plans to launch the SHIB metaverse and plans to also integrate SHIB into modern crypto payments.

Akita Inu (AKITA)

AKITA is a relatively unknown and newer coin. This can be a good thing or a bad thing. However, with a market cap of around $30 million, there is enough proof of concept here to suggest that AKITA is legit. Also, this relatively low market cap opens AKITA for massive growth. This is a meme coin that could easily offer 5x growth with the right media coverage.

Dogs of Elon (DOE)

Dogs of Elon (DOE) is also another unknown meme coin with a credible reputation. So far, the coin has hit a market cap of around $21 million. It can therefore blow up anytime and deliver resounding gains.

The post Top 3 meme coins to put on your watchlist today appeared first on CoinJournal.

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Andreessen Horowitz announces $4.5 billion fund to invest in crypto

Andreessen Horowitz’ first major investment in the crypto sector was the 2013 bet on Coinbase.

Andreessen Horowitz, a Silicon Valley venture capital firm with over $28 billion in assets under management, has announced a $4.5 billion fund targeted at investments in the crypto and blockchain space.

The fund will primarily look to invest in crypto projects and equity during the current bear market, the company said on Wednesday.

The crypto winter is the best time to invest in projects, the a16z’s general partner Arianna Simpson told CNBC. According to her, bear markets offer developers the opportunity to “focus on building” without distraction occasioned by the market’s price activity.

At the moment, most cryptocurrencies are nursing massive price declines, with the broader market hit by negative sentiment cascading from the stock market.  Andreessen Horowitz wants to use the opportunity to bet on the next Coinbase, Avalanche, or Dapper Labs – top projects that the firm took an early bet on.

a16z has now raised $7.6 billion in four funds towards investments in the crypto sector. In 2022, crypto startups raked in over $25 billion from venture capitalists.

The post Andreessen Horowitz announces $4.5 billion fund to invest in crypto appeared first on CoinJournal.

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Guggenheim’s Scott Minerd says everything in crypto is “suspect”

Scott Minerd, Guggenheim Partners’ chief investment officer, now says cryptocurrencies haven’t really become that investment vehicle he thought they would when he first entered the space.

In his opinion, “everything is suspect”, and that “no one has cracked the paradigm in crypto,” with Bitcoin’s use as a currency not fitting the definition and characteristics that go with it – medium of exchange, store of value and unit of account.

Minerd made the comments during an interview with Bloomberg TV at the World Economic Forum held in Davos Switzerland. In an apparent dismissal of the sector, the billionaire investor said, “none of the stuff – stablecoins, the whole bit – everything is suspect.”

“Bitcoin and any cryptocurrency at this point has not really established itself as a credible institutional investment. It’s really become the market of a bunch of yahoos and backwaters,” he added.

Minerd also revealed that Guggenheim sold its Bitcoin holdings (which was acquired at $20,000) when prices reached $40,000. He also reiterated that he doesn’t hold any Bitcoin at the moment.

Bitcoin will fall to $8,000

On the price of Bitcoin, he predicts the benchmark cryptocurrency will crash to $8,000 before recovering. But this isn’t the investor’s first forecast about BTC price.

He’s been bullish and bearish before, notably stating in February 2021 that the cryptocurrency’s value could reach $600,000. BTC was trading at around $40,000 at the time.

But in June, with BTC/USD around $35,000, Minerd said in an interview with CNBC that Bitcoin could correct to $10,000. The cryptocurrency fell to about $28,000 before bouncing to eventually hit the all-time high of $69,000.

After shedding over 50% of the gains seen during the bull rally, BTC is bearish and currently trades near $29,900. Minerd says a technical outlook for the cryptocurrency points to a new drop to $8,000.

The post Guggenheim’s Scott Minerd says everything in crypto is “suspect” appeared first on CoinJournal.

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Is Terra LUNA 2.0 a good long-term investment?

The Terra ecosystem is gearing for a relaunch after this month’s spectacular collapse that led to over $40 billion in losses. As this happens, the current LUNA token has collapsed to $0.00018, which is a remarkable collapse considering that it was trading at $120 a few months ago.

How will Terra relaunch?

Terra’s revival plan has several important parts. The goal of this revival will be to ensure that the strong community that existed before the collapse continues. The same is true for some of the most important projects that were built in Terra like Astroport, Station, and Stader.

First, the current Terra will change its name to Terra Classic while its token will be known as LUNC. The new blockchain and the token will be known as Terra and LUNA respectively. 

Second, the network will do away with TerraUSD, the stablecoin that caused this problem. Therefore, it is still unclear whether the developers will launch a new stablecoin or not. Also, it is still not clear whether they will create a new collateralized stablecoin or whether they will embrace existing coins like USD Coin and Tether.

Third, to promote that essential developers stick with the network, they will be allocated 0.5% of the total supply. They will also receive 1.5% of total assets as part of the developer alignment program and 8% of total supply for mining program. The remaining coins will be rewarded to pre-attack and post-attack LUNA and UST holders. 

Some of the holders who will not be eligible for allocation include UST or LUNA bridged off of Terra and LUNA protocols that cannot be verified. Terra 2.0 will launch on Thursday this week.

Is Terra 2.0 a good investment?

Terra’s collapse has caused a lot of pain to many people and there is a possibility that most of them will not have an incentive to buy the coin again.

While South Korean prosecutors are making a case against Do Kwon, it is too early to determine whether he was responsible for its collapse. In my opinion, UST was a brilliant idea that failed. 

As such, there is a likelihood that the Terra 2.0 will address the gaps that existed in the previous version. Due to its strong name recognition, we cannot rule out a situation where Terra price bounces back in the near term.

The post Is Terra LUNA 2.0 a good long-term investment? appeared first on CoinJournal.

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Singapore VC firm announces $100M fund for Web3 projects

NGC Ventures is an early backer of Algorand and Solana and will use the new fund to invest in early-stage DeFi, NFTs and Metaverse projects.

Singapore-based institutional investor NGC Ventures, which focuses on venture funding for projects in the blockchain space, has announced a new fund targeted at early-stage projects in the Web3 and metaverse ecosystems.

The fund, the company’s third in its crypto-focused programs, has secured $100 million in funding from various investors as it looks to help projects build and launch across the industry.

According to an announcement the company made on Wednesday, participating investors included Huobi Ventures, Babel Finance, Nexo Ventures, and GBIC.

Per the venture firm, the new funds will go into early-stage projects in decentralized finance (DeFi), blockchain gaming, non-fungible tokens (NFTs), and the metaverse.

Selected projects will also benefit from expert input on tokenomics, with access to major industry influencers, launchpads, market makers, and exchanges also available.

NGC is an early investor in several projects, including Algorand and Solana. Recently, it participated in the $8 million funding round for Africa-based DeFi startup Cassava Network.

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