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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Solana (SOL) dips 17% after another 48 hours of congestion issues

The Solana native crypto (SOL) has continued to nosedive as its blockchain continues to face major network congestion issues. Today it has dipped another 17.79% amid congestion issues over the weekend.

SOL is currently trading at $84.03 with a trading volume of $3.4 billion.

According to the current trend where all the major cryptocurrencies are going red, things might get worse for Solana if the congestion issues keep on cropping up.

What is Solana (SOL)?

Solana is a decentralized open-source project that depends on Blockchain technology to provide solutions for Decentralized finance (DeFi) and SOL is its native token.

The SOL token has been dropped greatly amid the current bloodbath of major cryptocurrencies like Bitcoin and Ethereum.

The sharp drop in Solana price

During this huge crypto market rout, Solana seems to be in the lead after experiencing 48 hours of network instability over the weekend, to an extent of disappointing the traders and investors. However, the Engineers posted a notice on the Solana website on Saturday, 22 January 2022 stating:

‘’Solana mainnet beta is experiencing high levels of network congestion. The last 24 hours have shown these systems need to be improved to meet the demands of users and support the more complex transactions now common on the network.’’

However, after working on the systems over the weekend, today the systems are in full operation. According to a comment on their website, the Solana team thanked the panel that helped to debug the network issues and also the Solana lab team who didn’t sleep for 48 hours.

This frequent network outage has highly contributed to the current bearish situation and resulted to trust issues among investors. Traders no longer trust the platform; something that has given its Ehereum Layer-1 competitors like BSC and Fantom an upper hand.

Mark Jeffrey, Boolean Fund founder, and Crypto investor, said:

 ‘’Another day, another 48-hour Solana outage. This is like the sixth time this has happened in 3 months. I have zero faith in it now. It is the new EOS. The fight is now between ETH, BSC, Fantom, Avalanche, and Terra.’’

Solana to up its game as traders goes for alternatives

In the midst of all this, questions are arising as to whether Solana the Ethereum competitor in terms of DeFi TVL has 50%. Current data shows that DeFi traders are going for those platforms with low fees; for example Avalanche, Fantom, Terra, and many more.

Fantom is currently the second largest network in terms of DeFi TVL after Ethereum as Solana slips to the sixth position with $7.7 billion DeFi TVL according to DeFiLlama.

The post Solana (SOL) dips 17% after another 48 hours of congestion issues appeared first on Coin Journal.

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Best places to buy AELF, the complete business solution token

Aelf is an open-source blockchain network designed as a complete business solution. Its token ELF is currently trading for $0.34 and has gained 8.37% today on news of the Top of Oasis hackathon.

Look no farther than this quick guide for all the details surrounding Aelf: what it is, can it be a valuable investment, and the best places to buy Aefl now.  

Top places to buy AELF now

As ELF is such a new asset, it’s yet to be listed on major exchanges. You can still purchase ELF using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy ELF right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for ELF

Now that you’re connected, you’ll be able to swap for 100s of coins including ELF.

What is AELF?

Aelf’s unique structure of ‘one main-chain + multiple side-chains’ can support developers to independently deploy or run DApps on individual side-chains to achieve resource isolation.

Its technology uses parallel processing and the AEDPoS consensus mechanism. Based on the cross-chain technology of the main-chain index and verification mechanisms, Aelf achieves secure communication between the main-chain and all side-chains.

It meets the governance needs of varying applications by providing different models. Through the incentive model, the network is equipped with a self-sustainable system and can self-develop.

Simultaneously, developers can debug, develop and deploy applications based on the mature IDE that the network provides.

Aelf has also launched Aelf Enterprise, an enterprise-level integrated blockchain solution meeting the requirements in different business scenarios.

Should I buy AELF today?

Aelf can be a profitable investment if its price keeps rising, for which there is no guarantee. Take all investment advice with a grain of salt.   

AELF price prediction

According to Digital Coin analysis, the price of Aelf will reach $2 in five years. It will go up to $0.72 by 2023, then decline slightly before it continues its ascent. Based on this forecast, Aelf can be a profitable long-term investment.

AELF on social media

The post Best places to buy AELF, the complete business solution token appeared first on Coin Journal.

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5 Reasons why you should buy NEAR

 The volatility of the crypto space has made gaining wealth in the 21st century easy. All you need to simply do is invest at a low and take your profit at a high, but we both know it can’t be this easy. Regardless, you are already searching for a coin you can buy out of the over 10,000 cryptocurrencies in the market and go ahead to plan your retirement. Fortunately, you’ve been able to arrive at a list.

However, take your mind away from those coins on your list. Let me interest you in NEAR Protocol. So, consider these five reasons before you take the giant step. Before that, let’s cover the basics of Near Protocol.

 NEAR Protocol is a third-generation blockchain launched in 2017 by Alexander Skidanov and Illia Polosukhin. It was initially a machine learning platform. Now, it is a network that rewards computers for operating the platform. It was created to speed up transaction rates, increase throughput, and aid compatibility.

 It is a base layer on which decentralized applications can be created. Compared to other blockchains, it is sustainable, interoperable, secure, cost-effective, friendly, and pragmatic for users. The NEAR Protocol aims to revolutionize systems and impact how users use the web generally.

1. NEAR Protocol is accessible and usable

 NEAR Protocol is a community-run decentralised platform that supports the development and operation of dApps. It is a decentralised database and a computation platform without a server. It has made it easy for engineers and innovators to use it to create various products while also serving a pool of users. It is expanding the reach of Open Finance and paving the way for web 3.0.

 NEAR Protocol will allow the creation of user-friendly applications that would require little or no permission to be engaged. NEAR is based on a usability-first approach. This means that apps created on the network would mirror those on web platforms while also ensuring security. It would be simple to onboard projects and easy to subscribe, with predictable pricing and usage styles that users are familiar with.

 In essence, both users and developers will experience seamlessness on the platform. It would be easier to create accounts with domain names that can be comprehended by everyone. It has eliminated the need for Ethereum Name Service.

 For developers, creating and deploying applications have been simplified. They can use JavaScript, Rust, and AssemblyScript software development kits. They would also have the platform’s search tool, NEAR Explorer.

2. NEAR Protocol uses shards its Data

 NEAR Protocol employs a sharding approach which allows it to partition its data. This improves its scalability, making it run more transactions. This approach is called Nightshade. It allows the network to grow as the number of nodes increases.

 Sharding allows each node to store a small subset of the platform’s data. It splits the computing work across the nodes due to high network usage. These nodes handle the data processing and add the resulting information to the main chain. This improves the security of the network as the potential points of failure are reduced because each node oversees a part of the network.

 Also, it would help solve the blockchain trilemma. Asides from sharding, it has developed a dynamic re-sharding. This adjusts the number of shards regularly and dynamically based on the demands of users. This increases transaction throughput and reduces transaction costs.

 Unlike other blockchains that use this approach, all shards are a part of the main chain. It also has Doomslug. This enables validators to generate blocks in turn, once per epoch based on their stake. Block creation takes approximately one second.

3. NEAR Protocol uses an eco-friendly consensus algorithm

 Unlike the pioneer blockchains, NEAR Protocol uses a specialised proof-of-stake algorithm- Thresholded Proof-of-Stake. This makes it more decentralised by enabling the permissionless interaction of node operators with the network. It eliminates the pooling power of validators and allows the ubiquitous participation of node operators. It ensures a fair and predictable consensus.

 This promotes growth as more nodes would be able to join. It also allows developers and innovators to make money from their projects. It assigns a fee to a contract when it is created, and the developer can withdraw it.

 Unlike other proof-of-stake, delegated tokens are not lost when the validator is slashed for malicious behaviour; only the reward is lost.

4. NEAR Protocol has bridges

 Blockchains improve their interoperability by creating links with other blockchains. NEAR Protocol has several bridges to serve this purpose. It has become compatible with Ethereum Virtual Machine through the Aurora bridge. This makes it easier for developers to transfer their apps to the fast, low-cost, and scalable NEAR.

 It has also partnered with Terra to bridge Terra’s assets with the platform. Also, it has the Rainbow bridge that supports the transfer of funds between NEAR and Ethereum. Additionally, there is the Octopus Network, a network that allows interoperability with blockchains like Bitcoin, Polkadot, Cosmos, and so on. This would make it compatible with NEAR-based tokens and the Inter-Blockchain Communication protocol.

 These bridges increased their transaction throughput (721,061) in January 2022.

5. NEAR Protocol has an expanding ecosystem

 Due to its futuristic features and developers‘ community, it has witnessed an exponential growth of its ecosystem in the last two months. It is ranked the third fastest growing platform for developers right now. It plans to combine the creativity of its community with accurate decisions and execution. Also, it hopes to aid a fast improvement of its protocol with the supervision and input of the community.

 It aims to provide the platform for the birthing of web 3.0. Flux protocol, Mintbase, and Paras are some of the popular projects on the ecosystem.

Ending Note

 To invest in NEAR Protocol would be to buy its native token, NEAR. NEAR is used as a reward for node operators and validators. It is used to pay for transactions, run applications, and reserve storage units for applications. It is also burnt as a deflationary measure. To get more NEAR, you can stake, participate in bounties, win a NEAR hackathon, run a community, create on the network, or be an active community member.

 As of today, NEAR is ranked 22, with a market cap of $8.5 billion. It costs $13.77 right now and peaked at $20.44 in January 2022. Out of the 1 billion total supply, 618.4 million is in circulation right now. It is trading on Binance, MEXC Global, and Huobi Global right now.

 If you can already picture the web 3.0 world, then you won’t hesitate to bag some NEAR. However, the decision is yours to make; in the end, it would be your loss or gain. As always, this is not financial advice. Do your research and deal wisely.

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

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Crypto-centric stocks plummet as Bitcoin falls below $35K

Crypto stocks tumbled on Friday as risk-off sentiment swept through the markets.

While US markets were recording a fifth straight negative session of the week, cryptocurrencies were bleeding heavily as bulls got battered.

Bitcoin price declined below a critical support level, with an analyst suggesting the drawdown could see the pioneer crypto slump to lows of $30,000. On Saturday 22 January, Bitcoin price broke below $35,000 and was on track for more than 12% in intraday declines and close to 20% over the week.

Crypto stocks like Coinbase, Voyager Digital and Marathon slumped Friday, with MicroStrategy also seeing a major dip.

Riot Blockchain shares plunge 15%

Riot Blockchain (RIOT) shares retreated heavily on Friday, dropping more than 14% to close at $15.00. Over the week, RIOT has declined 24% and is down more than 33% YTD.

Despite the rout seen over the past month, shares of the Bitcoin miner are still up nearly 400% in the past three years. Revenue has also increased twofold in each of the last three years to suggest the company is on a strong footing.

Elsewhere, Coinbase (COIN) slipped 13% to $191.97, while Robinhood (HOOD) fell 5.2% to $12.98. Coinbase shares have declined

Robinhood’s shares are nearly 30% down year-to-date and close to 60% off its IPO price of $38 in July.

Voyager Digital Ltd shares fell to a 52-week low of $9.95 before recouping some of the losses to close at $10.12, about 15% lower.

Other publicly traded crypto-centric companies to see huge declines on Friday were Hive Blockchain (HIVE) at -16%; Marathon Digital Holdings (MARA) at -11%; Hut 8 Mining (HUT) at -13% and Bitfarms (BITF) at -14%.

MicroStrategy (MSTR) slides 20%

MicroStrategy Inc. shares fell over 20% on Friday to record the stock’s worst single-day performance since 23 February 2020. After opening at $422.84, the stock fell to $365.98 to touch a 52-week low before closing at $375.89 for an 18% downturn.

On a weekly view, MicroStrategy has declined 22%, while year-to-date returns stand around 33% lower.

While the decline for the enterprise software maker’s stock follows the broader market trend, it also comes after documents showed the US Securities and Exchange Commission (SEC) had rejected the company’s crypto accounting strategy.

Last week, MicroStrategy CEO Michael Saylor said that the company would not be selling its Bitcoin haul even if prices continued to crash.

The post Crypto-centric stocks plummet as Bitcoin falls below $35K appeared first on Coin Journal.

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5 Reasons you should buy Bitcoin

If you’re looking to invest in cryptocurrencies. In that case, you have a lot of options at your fingertips, so much that it can be hard to decide what assets to invest in or what cryptocurrency to buy. Over 8,000 cryptocurrencies are begging for your attention, but there are also a few that stand out. Bitcoin is at the top of that list.

Odds are, you might already be considering buying some, but you’re not sure why you should choose it over the rest of the other assets. If you belong in this category, good news because you will learn five reasons why you should buy Bitcoin in this article.

1. Bitcoin is the currency of the future.

In 2008, not many people were willing to accept bitcoin as a store of value. However, individuals and beyond have a growing wave of its applications.

There are Bitcoin ATMs worldwide for individuals who intend to make bitcoin transactions. This need arises from its growing demand. Considering just America, over 100 million bitcoin wallets are held by over 15% of Americans. Of that percentage, more than 1 million users buy and sell bitcoin on a daily basis.

2. The Scarcity of Bitcoin will bring more value in the future

The fiat currency system proved to be quite effective, but there was a basic flaw. Any nation’s government can decide to print as much of it as they’d like to. Even though it can be a good way to create or control inflation, it means that the value of money is subjective to whatever the government chooses to do at any point in time.

Here’s where bitcoin is very different. Bitcoin is limited in supply. Only 21 million bitcoin exist and can ever be minted or mined. This helps to protect its value as it is not subject to the laws of inflation or deflation.

The scarcity of bitcoin makes it more like digital gold. It is difficult to mine; it is limited in supply. Think of it this way: the demand for bitcoin is continually growing. From basic economics, the greater the demand, the greater the price of an asset. Now, add the fact that bitcoin is very scarce; the value is even bound to increase to more astronomical levels.

Remember when bitcoin was trading at less than a dollar? Now, it’s bounced up more than 5 million percent above that. That rise is almost unimaginable, but it happened. Guess what else can happen in 20 years when you choose to buy bitcoin now.

3. Bitcoin allows you full anonymity and privacy.

Bitcoin operates a fully decentralised system. Unlike centralized systems that are controlled by third party central banks that have the ability to hold or suspend accounts, bitcoin transactions can be made without the watchful eyes of any institution or agency. Your bitcoin cannot be confiscated. Your wallet cannot be frozen. More companies and well-known institutions adopt cryptocurrency for payments and settlement of purchases. The blockchain ledger system of record keeping is even more useful for institutions. Transactions are recorded as they happen. They cannot be altered, and every transaction is adequately confirmed before any action is taken.

Even banks are beginning to experiment with bitcoin. Some countries have already accepted bitcoin as their first choice method of payment.

Also coupled with anonymity, bitcoin allows you to transact faster. All of those put together make bitcoin the perfect choice for investment.

4. Bitcoin has a first-to-market advantage.

Just about any product that’s the first of its kind has an advantage over the other products in the same class. The same goes for bitcoin. It is the alpha of all cryptocurrencies. The pioneer asset for other cryptocurrencies.

This means that while new cryptocurrencies and altcoins will continue to rise by the day, bitcoin will still be the most trusted. The price tells the story. Bitcoin is still the most valuable cryptocurrency out there. But, if that doesn’t convince you, check the market cap. It shows that more people are willing to invest in bitcoin than any other cryptocurrency.

It might be easy to forget about dogecoin or litecoin, but do you ever see bitcoin going away? Can you imagine it fading into the background and fizzling out like a cloud of steam? I can’t, and I bet you can’t too.

In fact, I challenge you to gather a hundred people or as many as you can and give them 10 seconds to mention five cryptocurrencies. I assure you that bitcoin will appear on every single list. It’s settling for every investor to know that his chosen digital currency or store of value is the most trusted of all the others and has the best results in terms of value and market capitalisation.

5. Bitcoin makes for a safe and secure investment.

One of the reasons people trust bitcoin so much is its clear-cut reputation. Bitcoin has a track record of safety. There’s no doubt about its regulation with the SEC, ASIC, and other crypto regulating entities. Other cryptocurrencies might make for scary investments. For one, you have to research its founder, research whether it’s regulated and controlled, and consequently decide whether it would make a worthy investment or not. The credibility of bitcoin, however, cannot be doubted. As long as you have a well-protected crypto wallet to hold your addresses and keys, your bitcoin couldn’t be any more secure.

Ending Note

The facts are there. Bitcoin makes a great investment. But ultimately, it’s up to you to decide whether bitcoin would make a good store for your value or an addition to your investment portfolio. It’s your money, after all. Whatever you decide, though, make sure you’ve weighed the upsides and downsides before reaching that conclusion. Most importantly, be sure you’ve thought through all these reasons.

Remember, the cryptocurrency market is very volatile. Do not invest money you cannot afford to lose. This is not investment advice. Do more research before you buy bitcoin or any other cryptocurrency.

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