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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Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum?

Terra (LUNA) has reached all-time highs in intraday trading today. The coin went above the $100 mark for the first time. It has however retreated slightly below that but is still nearly 3% up for the day. The rally was largely triggered by increasing positive buzz around layer 1 blockchains. Other similar networks like Solana (SOL) and Avalanche (AVAX) also rallied. Here is what we know so far:

  • At the time of writing, Terra (LUNA) was trading at around $99.30, but it had surged above $100 in intraday trading.

  • The bullish price action was also seen in other similar Layer-1 chains, including Solana and Avalanche (AVAX).

  • The rally is likely to hold as investors continue to bet big on Layer-1 blockchains.

Data Source: Tradingview.com

Terra (LUNA) – price action and analysis

It seems like a very long term ago when Terra (LUNA) was trading slightly above its $54 support. This was even after the coin had rallied nearly 25%. But that was merely a week ago, and it shows you just how fast things can change in crypto. 

Over the past few days, LUNA has been gaining upward momentum. But not even the most optimistic analysts saw the coin surging towards its all-time highs before the end of the year. It is indeed a Christmas surprise, and we expect this bullish upturn to hold for longer.

Should you buy Terra (LUNA)

Terra (LUNA) has always been a good investment based on its underlying fundamentals. The chain has seen explosive growth this year too. However, it is the growing interest in Layer-1 blockchains that makes LUNA such a promising project. 

In fact, the recent surge to all-time highs was inspired by the positive buzz around Layer-1 solutions. Although the chain faces competition from major players in this space like Solana (SOL), it still offers the promise of excellent returns in the long run. You should therefore consider buying it.

The post Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum? appeared first on Coin Journal.

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Can Kava (KAVA) retrace its September all-time high? Price analysis and prediction

When the Kava (KAVA) DeFi protocol launched in 2019, it was dubbed one of the most promising projects in decentralised finance. At the time, a single KAVA, the native token for the protocol, was trading at $0.95 or thereabout. Ever since the token has had highs and lows with price swings all over. However, in September this year, KAVA saw all-time highs of $14.38. So, can the token regain this lofty crown again in the near term? First, some highlights.

  • Despite surging to $14.38 in September, a massive correction ensued, sending KAVA on a downward spiral.

  • At the time of writing, the coin was trading at $4.03, nearly 72% from its September highs.

  • However, KAVA has still delivered an ROI of 668% since it was launched in 2019.

Data Source: Tradingview.com 

Kava (KAVA) – price action and analysis

The last two months have been brutal in crypto. Most coins, including DeFi tokens, went through a market-wide correction. It was therefore likely that KAVA would see increased bear pressure on its price. But it’s really fallen massively from its all-time high this year. 

It’s also highly unlikely we are going to see the token surge back to those levels in the near term. However, the coin has consolidated around $4, and as such, a short-term bullish burst could be on the cards. Besides, demand for DeFi tokens is set to grow in 2022, something that could benefit KAVA.

Should you buy Kava (KAVA)

In case you are looking for decent investments in DeFi, then KAVA is a very good bet. Yes, the token has seen some major headwinds in recent months. But as the broader crypto market recovers, DeFi tokens will be top in the growth list. As such, KAVA and other major DeFi tokens are likely to see immense long-term value.

The post Can Kava (KAVA) retrace its September all-time high? Price analysis and prediction appeared first on Coin Journal.

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Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy

Audius (AUDIO) has finally managed to break its downtrend, rallying 20% as sentiment on the broader crypto market improves. The surge has however lost some of its momentum but it is still holding steady. At the time of writing, the token was trading at $1.9, up nearly 5% in intraday trading. Here are some of the highlights:

  • Although the token has surged, it is still trading at nearly 70% down from its 2021 all-time high

  • The token was also down nearly 30% in December, and the recent surge only serves to repair some of these losses

  • Despite these headwinds, Audius (AUDIO) is still 1000% up year to date

Data Source: Tradingview.com 

Audius (AUDIO) – price action and analysis

The recent crypto correction we saw during much of December had a huge toll on Audius (AUDIO). The token saw slumps of nearly 30% this month, but it has managed to repair some of those losses. AUDIO has also pushed beyond its 50-day moving average of around $1.68, suggesting an uptrend is starting to gather steam. 

The next challenge would be to roar above the 100 and 200 daily moving averages of $2.047 and $2.125 respectively. So far, the token is testing the 100 DMA but is yet to make any decisive break. This could suggest that the bullish breakout that saw the token gain 20% is losing momentum.

Should you buy Audius (AUDIO)

From just fundamental analysis alone, there is no doubt Audius (AUDIO) is a decent investment for long-term value. But the price action in recent months has been quite volatile. 

Even with this recent surge, we don’t see Audius (AUDIO) breaking beyond its 100 and 200 DMAs. So, even though in the long term there is a lot of value to unlock, in the short term it’s very risky at the moment.

The post Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy appeared first on Coin Journal.

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Weekly Report: Bitcoin will replace the Dollar, Twitter co-founder Jack Dorsey says

Jack Dorsey has this week taken issue with venture capital firms for pushing a ‚false‘ idea of a decentralised Web3

Here is a recap of this and other top stories that you might have missed going into the holiday season

Block CEO Jack Dorsey weighs in on the Bitcoin vs. Dollar debate

Former Twitter and current Block (previously Square) CEO Jack Dorsey had his say on the Bitcoin v Dollar topic. Replying to a Tuesday tweet by American rapper Cardi B posing whether Bitcoin will replace the Dollar, the Bitcoin enthusiast was affirmative in his reply. His response sent waves across crypto communities, receiving engagements from both divides of argument.

His standing was anything but a surprise, as Dorsey has frequently professed his passion for Bitcoin. He previously remarked that Bitcoin is the most important thing he needs to work on in his lifetime. Last month, the Twitter co-founder left his position as CEO of the social media giant and will now focus on his digital payments and financial services company, Block.

Following the tweet, market changes gave Bitcoin a slight bump. The world’s largest crypto coin has been on a downward trend occasioned by worries over the impact of the Omicron variant in recent weeks. This week, it also became clear that Dorsey is no fan of Web3, or rather the technology’s control by venture capital firms.

On Tuesday, the Bitcoin bull tweeted out saying Web3 was nothing short of a centralised entity. The spat with VCs and the whole idea of Web3 went on with Elon Musk joining on asking if anyone had seen Web3. Dorsey replied, „it’s somewhere between a and z,“ possibly implying it is controlled by venture capital firm a16z.

Visa completes acquisition of international payment solutions firm Currencycloud

On Monday, Visa confirmed that it had completed the acquisition of cross-border payments solutions firm Currencycloud. The agreement was sealed in July for a sum of £700 million, which at the time, Visa said was part of its ’network of networks‘ strategy. The announcement also confirmed that Currencycloud would retain its London headquarters.

Currencycloud, which facilitates forex solutions for banks and financial tech companies, and Visa can now assure better control, flexibility, and transparency to partners and clients. Through the endeavour, Visa also intends to enhance the user experience for customers and reduce the struggles of achieving B2B cross-border transfer of finances.

The deal comes as part of a strategic partnership agreement from 2019 between the two firms in an arrangement that pledged cooperation. The plan was to improve innovation in transnational payments and offer Visa customers innovative, digital-first travel payment solutions that would help improve visibility and control of their money as they travel across various regions.

Currencycloud employs application programming interfaces (APIs) in providing currency exchange utilities for financial service providers. It also provides virtual account management, instantaneous notification for foreign exchange transactions, in addition to multi-currency management. The enterprise-class payments platform serves approximately 500 clients in the tech and banking sectors spread over 180 nations.

Crypto regulation proposal passes the Paraguayan senate

Last Thursday, a bill intending to regulate crypto mining and trading that was first introduced mid-July by lower house by MP Carlitos Rejala received a majority vote of 29 against 8 opposing votes in the Paraguayan senate. MP Rejala gained the support of Senator Fernando Silva Facetti, who has been the champion of the bill in the upper house.

The main advocacy point for the proposed bill has been the plentiful amount of power generated by the Latin American country. Paraguay produces a large amount of hydroelectric power, about five times the amount it actually uses, with most of the surplus going to waste.

Regulating the crypto sector and allowing international miners to set up mining farms near the power generation plants would monetise the overabundant power that would otherwise go unused. The proposal seeks to create forthright regulation for the crypto sector. If implemented, it would validate crypto mining as a legal sector and recognise the mining of virtual assets as „a digital and innovative industry.“ 

Entities interested in setting up mining operations would require approval for industrial electricity use before applying for a licence. This is a big win for crypto backers, but the journey is not yet over. The bill will be debated and voted on by the House of Deputies (lower house) next year, after which the President can sign it into law.

Crypto.com purchases an ad spot in the 2022 Super Bowl

Crypto.com isn’t slowing down as it seeks to join the top consumer brands in the US within the next three to five years. On Wednesday, The Wall Street Journal reported that as a last major financial move for the year, the Singapore-based crypto exchange had purchased ad space in the biggest sporting event in American television – the Super Bowl.

The exchange will be airing a 30-second ad during the popular sporting event, for which it reportedly paid a significant $6.5 million. The Super Bowl is set for February 2022 and is a sports game known to enjoy massive TV viewing numbers. This year’s version had 96.4 million viewers, approximately one-third of the American population. The ad could prove value for money as indicated by the good publicity figures.

Crypto.com has been on a roll this year, completing several mainstream partnerships. Also, this week on Tuesday, the exchange announced a four-year deal with Angel City Football Club to become the team’s official NFT and crypto partner. The deal saw Crypto.com become a founding sponsor and partner at the new team, an opportunity it plans to use to push awareness on crypto, blockchain, and Web3. Not too long ago, the exchange completed a $700 million, 20 year deal for the naming rights of the previously-named Staples Center Stadium.

Former US President Donald Trump only wants the Dollar, not crypto

On Monday, former President of the United States Donald Trump spoke to Fox News anchor Maria Bartiromo during her Mornings With Maria TV program. The former head of state warned of the danger of cryptocurrencies, though taking a softer stance on Melania Trump’s planned NFT project.

In the interview published on Tuesday, the former President spoke of his preference for the Dollar, saying he really has never been a fan of crypto. Trump told Bartiromo that crypto is a very dangerous thing that could one day see a bigger burst than the dot-com bubble crash at the start of the century.

He referenced previous combative comments he had made regarding the digital assets, such as when he remarked crypto seemed like a scam and needed heavy regulation back in June. Trump, however, held that the immediate former First Lady Melania would do great in her plans to launch an NFT project.

Melania announced her NFT venture Thursday last week with the said NFTs available for 1 Solana, valued at around $180 at present. The NFTs would be released at regular intervals, with a portion of the proceeds going to charity. President of the National Committee for Responsive Philanthropy Aaron Dorfman commented that the lack of clarity on what amount would be given to charity is „a huge red flag.“

The post Weekly Report: Bitcoin will replace the Dollar, Twitter co-founder Jack Dorsey says appeared first on Coin Journal.

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Kraken reveals NFT marketplace plans: Here’s what makes its platform unique

Kraken is currently working on a model to determine the liquidation value of NFTs before use as backing for loans

Digital assets trading platforms are the latest institutions pacing into the NFT space by opening NFT marketplaces. US-based crypto exchange Kraken announced plans to launch its own mid-last week. Speaking to Bloomberg Technology’s Emily Chang, Kraken’s CEO Jesse Powell said his exchange was working to establish a platform that would give investors exposure to the growing NFT market.

A Bloomberg post published today has now provided more information on the planned launch. Bloomberg reported that Powell, the exchange’s founder, said that the proposed marketplace would interest investors seeking something more than just collecting digital art. He explained that the marketplace would provide custodial services and additionally allow users to request loans contingent on their digital collectibles.

NFTs have other utilities beyond aesthetic value

Powell revealed that Kraken is working on a system that would facilitate such transactions. The exchange would first determine the liquidation value held by the art before the requested amounts can be given out.

„If you deposit a CryptoPunk on Kraken, we want to be able to reflect the value of that in your account. And if you want to borrow funds against that,“ he said.

The CEO also touched on the evolutionary phases of NFTs, noting that they had been around for a while though it took a while for them to become mainstream. Though digital art has primarily been a collector’s item with its value in display or flaunting, he said that the assets are now evolving to gain other utilities into the new year. Such includes the use of NFTs as collateral to loan crypto or stablecoins.

„Phase one was speculation, phase two is buying art and supporting artists, phase three is going to be functional uses of NFTs,“ Powell observed.

In offering NFT collateralisation, Kraken follows crypto lending platform Nexo’s announcement last week of the launch of a lending desk. The platform’s CEO Antoni Trenchev said that in the coming days, lending services such as Nexo’s would play a huge role in getting value from NFTs without the owners necessarily relinquishing ownership of their assets.

Crypto exchanges are loving NFTs

Kraken might have taken its time to conceptualise an NFT marketplace, but the whole idea has been long overdue. The exchange has been stalking the NFT space for months now, having released a series of reports such as the finding of NFT projects‘ dominance of Ethereum activity.

Its peer crypto exchanges, including Binance and FTX, have already launched marketplaces, while Coinbase is racking up a bulking waitlist with a scheduled launch of its marketplace next year. All this is happening as these centralised entities look to compete with the largely dominant non-custodial marketplace OpenSea.

The post Kraken reveals NFT marketplace plans: Here’s what makes its platform unique appeared first on Coin Journal.