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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Crypto exchange Kraken completes acquisition of Staked

The deal marks the fifth of Kraken’s acquisitions this year, which have contributed to the 950% growth seen this year, according to the company

Crypto exchange Kraken said on Tuesday that it had completed the acquisition of Staked, a US-based non-custodial staking platform. Though the company did not reveal further details on the financials around the deal, it held that it was “one of the largest crypto industry acquisitions to date.”

With this new venture, Kraken plans to expand support for proof-of-stake networks and avail new innovative products on its platform for its customers.

Staked employees will remain onboard

Further, Staked CEO Tim Oglivie and his entire team would continue to work as part of the business.  Kraken’s CEO and co-founder Jesse Powell spoke of the deal, voicing his excitement on Staked as one of the standout yield products as it has seen significant uptake from a considerable portion of crypto investors.

Welcoming Staked’s client base to its new home, he explained that Staked offered a highly complementary addition to Kraken’s business model. As such, it would facilitate the crypto exchange in reinforcing its product offering for customers that would keep hold of their staked assets.

“We’re excited to welcome Staked’s clients to Kraken and believe that they will benefit from access to our wider portfolio of products as they seek to broaden their engagement with digital assets.”

Staked offers customers non-custodial staking by which users can earn yield from their crypto assets without the need to necessarily relinquish them. Its incorporation would therefore complement Kraken’s custodial staking. Moreover, Staked gets to join an exchange with world-class infrastructure that optimizes user experience and eliminates the weighty barriers of entry.

Kraken has been adding crypto entities to its portfolio

Kraken’s staking business has seen some significant growth over the course of the year, recording a more than 950% growth in the period reaching November.  The exchange’s staking business clocked $16 billion, with its clients receiving staking yields worth more than $500 million.

Noteworthy, Kraken’s endeavors into acquisitions and investments have played an enormous part in this growth. Over the last few years, the company has added Bit Trade, Circle Trade, CryptoFacilities, CryptoWatch, and other crypto companies onto its portfolio. Staked being  the company’s fifth acquisition this year, Powell said that the company’s business has now evolved to offer something more to customers than just the custodial and trading services.

“We’ve become a holistic crypto platform with a diverse range of products that serves the needs of retail, professional, and institutional clients. Heading into the second decade in our company’s history, I’m excited about the future and Kraken’s continued support of the world’s shift to Web3 and DeFi.”

The post Crypto exchange Kraken completes acquisition of Staked appeared first on Coin Journal.

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3 Best undervalued altcoins on Solana to buy in 2022

Solana (SOL) is a fully decentralised public blockchain that allows the launch and development of scalable DApps. It is regarded as one of the fastest blockchains in the world, with relatively lower gas fees. Solana has also been oftentimes compared to Ethereum. Here are some highlights:

  • So far, over 400 new projects have launched on Solana, with more expected to come

  • Solana is also highly scalable, and its network is associated with low gas fees

  • It is also regarded as one of the fastest blockchains in the world

So, what are some of the most exciting projects on Solana for investors? Here is a pick of the top 2 today:

Serum (SRM)

Serum (SRM) is a decentralised exchange (DEX) and DApp ecosystem designed to deliver exceptional transaction speeds and low fees. Built on Solana, the DEX is completely permissionless and non-custodial. SRM is the native token for the Serum DEX. It is used for governance and platform transactions. 

Data Source: Tradingview.com

At the time of publishing, SRM was trading at $3.43, which is significantly undervalued. Decentralised exchanges are expected to grow in the coming years. Besides, with the speed and scalability of Solana, and the development of a robust Serum ecosystem, the future prospects of SRM look quite positive.

Saber (SBR)

Saber (SBR) is an automated market maker designed to facilitate the exchange of crypto assets on Solana. The platform allows users to swap various assets, including stablecoins. It also has liquidity pools and yield farms to help investors maximise returns. 

SBR is its native token and even though at the time of writing the coin was trading way below its all-time highs this year, there is a lot of growth potential in the near term. The token was trading at $0.06407, with a market cap of around $632 million.

The post 3 Best undervalued altcoins on Solana to buy in 2022 appeared first on Coin Journal.

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CBDCs are ‘a strong validation of blockchain technology,” says Binance CEO

  • Changpeng “CZ” Zhao also says CBDCs may have positives and an option, but governments shouldn’t seek to regulate them independently.

Binance CEO Changpeng Zhao, one of the most prominent figures in crypto, has cautioned that governments should not seek separate regulatory oversight for cryptocurrencies and for central bank digital currencies (CBDCs).

He also says that while CBDCs have several positives, there are “few caveats.”

Notably, the Binance chief says he sees central bank-issued digital currencies as the biggest validation of blockchain technology.

Changpeng “CZ” Zhao believes central banks digital currencies (CBDCs) have the potential to benefit the broader crypto ecosystem but says governments should not look to oversight the sector in its usual “walled-garden nature.”

The Binance chief made the comments in a blog post published Tuesday, where he responded to the question of CBDCs as part of his CZ’s FAQs Series.

He says there are positives and negatives to the issue of central bank digital currencies, but one of the most obvious things to note about the continued focus on and issuance of these by governments is that it provides a “strong validation of the blockchain technology” underpinning cryptocurrencies.

“As recently as 2 years ago, we heard newcomers worry that the technology may be a fad. Now with central banks adopting it, we don’t hear those concerns anymore,” he wrote.

CBDCs can help educate people about Bitcoin

He also sees CBDCs as key to the crypto industry as through them, the masses can learn about blockchain and crypto. He notes that educating the masses about blockchain also educates them about Bitcoin.

According to him, learning about Bitcoin exposes people to the “valuable fundamental properties of money – scarcity, freedom to transact, and low fees.”

Among risks he associates with CBDC developments, the Binance CEO highlights a possibility that some governments “ban[s] Bitcoin” in order to promote their own CBDC.” CZ, however, clarifies that so far no country has banned Bitcoin and that so far, bans have only affected crypto exchanges in those countries.

Several countries are aggressively pursuing CBDCs, while at the same time seeking to introduce regulations that might hinder the broader crypto industry.

Zhao says governments should not put forth different regulatory environments for CBDCs and for cryptocurrencies. According to him, adopting “restrictions and barriers” will likely stifle the very innovation and technology governments rely upon for the development of the national digital currencies.

The post CBDCs are ‘a strong validation of blockchain technology,” says Binance CEO appeared first on Coin Journal.

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Looking for memecoins to buy: Best alternatives to Shiba Inu and Dogecoin

When you think about meme coins and the impact they have had in the crypto industry, two names automatically come to mind. These are Shiba Inu and Dogecoin. But there are other meme coins that should be worth a look in. But first, here are some facts.

  • Meme coins are highly speculative assets and come with a lot of risks

  • But some of these meme coins have seen hyper-growth, sometimes even unbelievable returns

  • Meme tokens are not just about speculative trading, some have inbuilt utility as well

Nonetheless, if you are looking for meme tokens away from common names like Shiba and Doge, here are two decent options that you can consider:

MonaCoin (MONA)

MonaCoin (MONA) has always had a cult following over the years. But unlike some of the meme coins we know that are simply speculative at best, MONA has managed to add some utility into the mix. In fact, it is marketed as an open-source, peer-to-peer payments platform. At the time of publishing this post, MONA was trading $1.37 with a fully diluted market cap of around $143 million. 

Data source: Tradingview.com

However, during the crypto bubble of 2017, the coin had actually managed to hover around $17. Although it’s unlikely that MONA will retrace this growth in the near term, there is always an upside with meme coins.

Dogelon Mars (ELON)

Some analysts have actually been bold enough to compare Dogelon Mars (ELON) to Shiba Inu. At press time, ELON was trading at $0.000001135 with a diluted market cap of nearly $1.1 billion. The coin has also seen increased trading volume over the last few months. 

Even though there have been a few corrections here and there, ELON is still seen as a serious alternative to Shiba Inu. This is not to say that it will see the same hypergrowth. But with meme coins, nothing is really certain.

The post Looking for memecoins to buy: Best alternatives to Shiba Inu and Dogecoin appeared first on Coin Journal.

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Best Coins to buy if you want exposure in the relatively undervalued virtual real estate sector

Metaverse-related blockchain projects have been gathering steam in recent months. Investors too are growing confident that crypto and related assets will be crucial in the metaverse. As such, there are positioning themselves to take advantage of this next growth opportunity. Here is why:

  • First, analysts have termed the metaverse one of the most important growth opportunities for crypto and blockchain technology

  • Virtual real estate purchases are heating up, with one on Sandbox selling for $4.3 million

  • The world of virtual real estate remains relatively undervalued despite growth potential

With these facts in mind, it is clear that this industry has a lot of upsides. Here are two blockchain projects to invest in if indeed you want some exposure in virtual real estate and the metaverse.

Axie Infinity (AXS) – NFT based blockchain game

AXS is the native token of the Axie Infinity, a blockchain-based NFT game powered by Ethereum. The platform has nearly 2 million active daily users. Players simply raise and fight NFT pets called Axies. The Axies can be bought and sold through the NFT marketplace. 

Data source: Tradingview.com

AXS has seen a surge in ownership this year of nearly 420%. The coin has also seen explosive growth as the popularity of NFT- based gaming rises. We expect this trend to continue, and with a lot of interest in the metaverse, AXS could be hugely valuable.

Decentraland (MANA) – Virtual reality platform on Ethereum

Decentraland (MANA) is also an Ethereum based virtual world where people can buy and develop virtual real estate. As of now, there are about 90 000 plots inside the virtual world where users can host events on their land.

Just recently, a single plot of land on Decentraland sold for $2.43 million. We expect interest and investment in virtual real estate to surge in the near term, and as such, Decentraland (MANA) could be in for a positive ride.

The post Best Coins to buy if you want exposure in the relatively undervalued virtual real estate sector appeared first on Coin Journal.