Kategorie: Crypto News

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Top 3 crypto alternatives for Axie Infinity you can consider right now

The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

  • There is increased integration of blockchain gaming with the metaverse

  • Play-to-earn has also seen increased NFT integration as well.

  • We are likely to see increased institutional capital towards play-to-earn.

So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

Splinterlands (SPS)

Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

Data Source: Tradingview 

It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

Battle of Guardians (BGS)

Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

CryptoKitties (WCK)

CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

The post Top 3 crypto alternatives for Axie Infinity you can consider right now appeared first on Coin Journal.

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Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem

The ADA Yield Fund starts off with $100 million and will benefit Cardano’s growing decentralised finance (DeFi) ecosystem via liquidity and other resources.

Wave Financial has announced the launch of Wave ADA Yield Fund, a $100 million fund aimed at supporting the Cardano (ADA) blockchain ecosystem.

According to Wave Financial CEO David Siemer, the fund is purely meant for the provision of liquidity and targets decentralised exchanges (DEXs), lending protocols and stablecoin issuers. The fund will also support stake pools in the Cardano DeFi ecosystem.

“Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem,” Siemer said in a press release shared with CoinJournal on Wednesday.

Wave is a Los Angeles-based digital asset investment manager regulated by the US Securities and Exchanges Commission (SEC). The company says the fund is a reflection of its goals in the crypto ecosystem, including support for promising entrepreneurs.  

Cardano’s growing ecosystem is attracting institutional investors

Cardano launched smart contracts capability in 2021 and has over the past several months, seen an explosion of developer activity.  Hundreds have launched via community funding initiatives, according to Charles Hoskinson, the founder of Input Output (IOHK)

But more are at various stages of development, with the ADA fund likely to prove a timely launch. Hoskinson agrees with the sentiment, noting in a statement that the Cardano ecosystem will succeed if projects built on the blockchain thrive.

“So we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance,” he added.

Cardano continues to see huge interest from institutional investors, with demand driving on-chain large transaction volumes even higher. Data shows that year-to-date, transactions involving $100k or more in ADA have spiked nearly 50x.

Demand has also seen the launch of ADA-backed exchange-traded products to cater to institutional investors. Just this week, WisdomTree launched a Cardano ETP for the European market.

The post Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem appeared first on Coin Journal.

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ECB is open to ‘simplified AML/CFT checks’ for small digital euro payments, official says

ECB Executive Board Member Fabio Panetta’s remarks come just a day to an EU vote likely to introduce KYC/AML checks for all crypto transactions.

The European Central Bank is still considering a central bank digital currency (CBDC) – a digital euro. There has been progress in the project, with consultations taking place since 2020 and gathering speed in recent months.

One of the key concerns remains the “trade-offs” between the need for privacy and adherence to EU financial regulations and policies. While the ECB wants to see greater regulatory compliance, an official has told lawmakers that the rollout of the proposed digital euro could allow for “some degree of privacy” for users.

Still no ‘full anonymity’

Digital euro users will need to comply with know-your-customer (KYC) checks as well adhere to anti-money laundering (AML) regulations. 

However, these requirements might not be cast in stone when it comes to small payments, ECB Executive Board Member Fabio Panetta said on Wednesday.

“Full anonymity is not a viable option from a public policy perspective,” Panetta told the EU parliament’s Economic and Monetary Affairs Committee.

According to Panetta, allowing for complete privacy using the central bank’s digital currency would open the system risks of illicit transactions.

“In addition, it would make it virtually impossible to limit the use of the digital euro as a form of investment,” he added.

‘Simplified AML/CFT’ for small payments

To safeguard financial stability, prohibiting anonymous transactions is essential, the ECB exec explained. But there could yet be a slight ‘break’ from the anti-money laundering and combating of terrorism financing (CFT) norms- if the amounts involved were low value.

“A greater degree of privacy could be considered for lower-value online and offline payments,” Panetta said in a speech he delivered on Wednesday. “These payments could be subject to simplified AML/CFT checks, while higher-value transactions would remain subject to the standard controls,” he added.

The ECB official’s remarks come just a day before EU lawmakers vote on a proposal seeking to remove anonymous crypto payments- even for small transactions. The vote is expected on Thursday. 

If passed, it would mean every crypto transaction would have to adhere to KYC, AML and CFT checks.

The post ECB is open to ‘simplified AML/CFT checks’ for small digital euro payments, official says appeared first on Coin Journal.

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Kucoin: 44% of Germans are ‘motivated’ toward crypto investing

  • KuCoin’s Into the Cryptoverse 2022 report shows that nearly half of the German population sees crypto as part of “the future of finance.”
  • 35% of investors do it for passive income.
  • More women are showing curiosity in 2022, with 53% of those showing interest.

A recent report by global crypto exchange KuCoin suggests that 44% of Germans are “motivated” toward cryptocurrencies as an investment.

This percentage of the population also believes cryptocurrency is the “future of finance”, the exchange noted in its ‘Into The Cryptoverse 2022’ report.

16% of Germans aged 18-60 own or trade crypto

 The insights gleaned from the study are reflective of Germany’s “set of clear rules applicable to cryptocurrencies,” a summary of the report indicated.

Notably, Germany was the first country to recognise Bitcoin as a “unit of value,” classifiable as a “financial instrument.” That happened in 2013 and is a development that appears to have had a big impact on adoption rates in the country.

As a result of regulatory developments, 44% of respondents said they are looking to buy and invest in crypto. Per the report, almost half of the population is convinced crypto is going to be the future of finance.

16% of Germans aged 18-60 own cryptocurrencies or have traded them over the past six months, with 41% of these investors planning to increase their investments in 2022. A further 13% are said to be crypto-curious.

In terms of gender, men account for 69% of cryptocurrency investors, while 53% of the crypto-curious are women.

Overall, 77% of these ‘crypto-curious’ investors are reportedly looking into potential digital assets to buy. According to KuCoin, this is a statistic that points to the very high levels of crypto literacy in the country.

Staking and lending top investment products

The report suggests that the growing adoption of crypto investment in Germany is down to the growing appeal of digital assets as a source of passive income. And this ability to generate returns on crypto investments is seeing cryptocurrency investing going mainstream in the country.

Per the study, 35% of investors take positions for passive income opportunities. Meanwhile, 30% see crypto as a reliable store of value and 29% say crypto assets provide a means to financial independence.

In terms of specific investments for passive income, an average of 24% of investors prefer staking crypto to holding bank savings accounts. Crypto lending comes next at 13%.

The report on Germany is the second in KuCoin’s Into The Cryptoverse 2022 lineup, coming after Turkey. The exchange plans to release further reports throughout 2022.  

Global trends on ownership and usage of crypto for 2021 showed that Nigeria topped the global charts, with Singapore, Thailand and the Philipines also up there. Asia, Africa, and South America are showing the fastest growth.

The post Kucoin: 44% of Germans are ‘motivated’ toward crypto investing appeared first on Coin Journal.

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Highlights March 30: Major cryptos down, AAVE, Chiliz, STEPN rally

The biggest cryptos registered minor losses over the past 24 hours. Crypto companies in the UK that have yet to receive regulatory approval may look to move their operations elsewhere as the government deadline is only two days away.

US indices closed higher yesterday on hopes of a ceasefire between Russia and Ukraine, with Moscow pledging to cut back operations near the Ukrainian capital. Tech stocks were among the biggest gainers on the NASDAQ100 (+1.84%).

Top cryptos

Standing out among the losers were Cardano and Avalanche, both down close to 3%. Bitcoin was trading above $47,000 at the time of writing, down less than 1% over the past 24 hours.Terra and Near Protocol were notable exceptions to the bearish trend, up 3% and 8%. 

Top movers

The market was generally mixed outside the top 20. Zilliqa’s bull run continues in advance of its metaverse’s launch at the beginning of April. ZIL is up 42% today. 

Other winners include VeChain (+11%), AAVE, Chiliz, and STEPN (GMT). GMT has been rallying since it was listed on Binance at the beginning of March 2022. 

It gained 70% on news of a mysterious but important upcoming partnership between STEPN and an unknown entity, believed to be Binance.

Lionel Messi and fan token platform Socios signed a multimillion-dollar deal for the football legend to become the platform’s global brand ambassador. 

Chiliz soared in response. The platform, which powers Socios, added 21% to its value on the news of the high-profile partnership.

Lending protocol Aave’s token AAVE added more than four-fifths to its value since its V3 upgrade two weeks ago. It includes improvements in decentralization, security, interoperability, and risk control. AAVE is up 30% today.

Trending

Today’s biggest gainer is Pyroblock (PYR), a BSC token associated with collectible hand-drawn NFTs. Each NFT card block has its own rarity index. You must own PYR to buy NFTs. 

You earn rewards by staking NFT cards, which can provide high yields. PYR is up around 2,000% in 24 hours. 

The post Highlights March 30: Major cryptos down, AAVE, Chiliz, STEPN rally appeared first on Coin Journal.