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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Inflows into crypto investment products hit 9-week high of $346M

  • Crypto investment products hit 9-week high of inflows.
  • Total inflows for week up to November 24 was $346 million, with $312 million in Bitcoin-related ETP products.
  • Ethereum saw $34 million of inflows amid a turnaround in sentiment.

Crypto investment products recorded $346 million in inflows for the week ending November 24, according to a weekly report by digital assets management firm CoinShares.

The report highlights last week’s inflows into crypto exchange-traded products as the “highest total observed in the past 9 weeks of inflows,” CoinShares head of research James Butterfill noted. 

According to the analysis, crypto products are on a run of inflows that’s now the biggest since the last bull market. Positive net inflows are likely to continue given the sentiment around the potential approval of a spot-based ETF in the US.

Bitcoin ETPs record $312 million in inflows

As total crypto ETPs inflows hit $346 million, the largest chunk of that went into Bitcoin (BTC) products, with a total of $312 million in weekly inflows. The figure pushed the inflows count for the flagship cryptocurrency $1.5 billion year-to-date. Meanwhile, short bitcoin products saw outflows of $0.9 million.

Elsewhere, altcoins continued to experience a resurgence in inflows. Ethereum (ETH) registered a total of $34 million in inflows for the week, while Solana (SOL), Polkadot (DOT) and Chainlink (LINK) saw $3.5 million, $0.8 million and $0.6 million respectively.

Ethereum is on a 4-week run totalling $103 million, CoinShares noted, a scenario that sees the world’s second largest cryptocurrency by market cap nearly flip the run of outflows see in 2023. The CoinShares team attributes this to a “decisive turn-around in sentiment”, probably informed by recent events including the filing of a spot Ethereum ETF by BlackRock.

Last week’s inflows have pushed total assets under management in crypto funds to $45.4 billion. It’s the the highest level since May last year. 

Total crypto ETP inflows surpassed the $1 billion mark year-to-date earlier this month.

The post Inflows into crypto investment products hit 9-week high of $346M appeared first on CoinJournal.

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The Sandbox partners with Nuqtah to boost Web3 adoption in Saudi Arabia

  • The Sandbox, Nuqtah and Sandsoft have partnered to promote Web3 and metaverse adoption in Saudi Arabia and MENA region.
  • Nuqtah will list SAND land and avatars on its NFT marketplace.

Web3 adoption in Saudi Arabia is set for a significant boost after metaverse firm The Sandbox and its partner, mobile-first game developer Sandsoft, inked a partnership with MENA-based Web3 platform Nuqtah.

The recently announced partnership is aimed at supporting the Web3 gaming ecosystem in Saudi Arabia, the companies said. 

Specifically, the collaboration will focus on creating gaming and Web3 experiences that align with tastes and preferences of Saudi gamers.

“We’re pursuing our journey of innovation and growth in the Saudi region following our recent partnership announcement with Sandsoft,” Sebastien Borget, the COO and co-founder of The Sandbox, said in a statement.

“Together with pioneers such as Nuqtah, we’ll collaborate to attract more local creators from Saudi Arabia into our user-generated content platform and enable them to monetize their digital assets creations on Nuqtah’s platform,” Borget added.

Nuqtah to list land and avatars

The initiative will kick off with a contest for local creators early next year. Nuqtah will leverage The Sndbox’s 3D editor VoxEdit to launch a Design Contest, with winning creations set to feature on the Web3 infrastructure provider’s NFT marketplace.

As part of the collaboration, the three platforms commit to working towards enabling Saudi Arabian creators tap into the The Sandbox metaverse for projects tailored for the local market. To support the ecosystem, Nuqtah is expected to list The Sandbox land and avatars on its NFT marketplace.

The Sandbox views this strategic partnership as the beginning of further collaboration as it looks to expand across Saudi Arabia and the Middle East and North Africa (MENA) region.

The post The Sandbox partners with Nuqtah to boost Web3 adoption in Saudi Arabia appeared first on CoinJournal.

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Top of the Swaps – Which ‘Swap’ is the Best DEX Coin? Can it Compete with $GFOX?

Over time, Decentralized Exchanges (DEXs) have expanded due to their ability to provide users complete ownership over digital assets. Nonetheless, a lot of DEXs have native tokens just as centralized exchanges. 

As a result, some of the most popular DEX coins that have ranked among the best cryptocurrency investment opportunities are Uniswap, PancakeSwap, and dYdx. However, how well do they stack up against the emerging Galaxy Fox ($GFOX)?

>>BUY $GFOX TOKENS<<

Galaxy Fox ($GFOX) Has Been Predicted To Outperform the Crypto Market

The cryptocurrency market has entered another bull cycle. Where analysts have predicted price growth across the board, Galaxy Fox ($GFOX) has been picked as a coin to watch. The project has been predicted to outperform the rest of the crypto market because of its uniqueness.

Galaxy Fox wants to establish its blockchain game as the best way to earn passive income with cryptocurrency in 2023. Like in other blockchain P2E games, players will earn rewards as they progress in this intergalactic world. In addition to this, there is a leaderboard within the virtual world of Galaxy Fox.

For sustainability, the project has put forward a unique reward concept where 50% of the money made from the transaction fees is sent to a fund. Players who place in the top 20% of the Galaxy Fox game will receive a reward from this fund. All rewards earned within the game can be sold for cash within the in-ecosystem marketplace of Galaxy Fox. In addition, the project also supports the staking of its $GFOX tokens. 

Analysts have ranked $GFOX as one of the best cryptocurrency investments among new crypto ICOs for 2023 because of its unique blend of meme coins and blockchain gaming. As the project grows in the bull market, the token could see up to a 100x price rise.

>>BUY $GFOX TOKENS<<

Can the Top Swap Coins Keep Up With Galaxy Fox?

Although the use of DEXs has increased since the 2022 collapse of some top CEXs, their coins have underperformed. Some experts have linked this to the limited liquidity and slower transaction times of DEXs. 

As the leading DEXs, Uniswap ($UNI) and PancakeSwap ($CAKE) were once ranked among the best cryptocurrency investment options. However, they have struggled in 2023. The price of $CAKE has dropped by almost 40% since the start of 2023. 

On the other hand, $UNI has gained just 1.4% year-to-date. This has been considered an underwhelming performance given that the crypto market has climbed by more than 110% YTD. Aave has performed better than the other two top DEX coins. 

The Aave crypto has gained more than 80% YTD. While these are solid gains, they do not compare to the potential 100x price explosion that has been projected for $GFOX. 

At the moment, $GFOX is valued at $0.00066 and is in the first phase of its crypto presale, making now the best time to join the project. So don’t hesitate, check out their presale now by clicking the links below. 

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

The post Top of the Swaps – Which ‘Swap’ is the Best DEX Coin? Can it Compete with $GFOX? appeared first on CoinJournal.

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Crypto token outlook this week: Vertex Protocol (VRTX)

  • Vertex Protocol (VRTX), the decentralised exchange (DEX) on Arbitrum, is seeing increased volumes for spot and perpetuals.
  • VRTX price was 33% up in 24 hours, hitting $0.44 and 89% up from $0.22 on November 22.
  • Total value locked (TVL) has reached $32 million.

Most altcoins are trading at near year-to-date highs after mirroring Bitcoin’s march to its highest price in 18 months – the spike to above $38k.

With the overall market outlook remaining bullish, analysts are pointing to a potential upward continuation for BTC.

Here is what to know about Vertex Protocol (VRTX) going into next week.

Vertex (VRTX)

The Vertex Protocol is a decentralized exchange (DEX) on Arbitrum that offers spot, perpetuals and money markets. The hybrid orderbook-automated money maker DEX has seen increased volume in the past few days, with its 24 hour trading volume surpassing dYdX as top volume DEX for perpetuals.

Vertex Protocol TVL and price

With users incentivized via the recently launched Arbitrum (ARB) incentives program, trading volumes are likely to continue surging. The ARB incentives week 2 saw over 210,000 ARB tokens distributed to traders last week.

The claim for the tokens is live, adding to the incentive that earn traders VRTX via the Vertex Protocol’s Trade & Earn program. Users are thus poised to earn rewards on trading fees, with a maximum of 75% of taker fees. VRTX liquid staking allows holders to stake VRTX to generate voVRTX and earn rewards.

According to DeFiLlama, a total of $32 million has been staked on the Vertex chain, with $566 million in derivatives volumes recorded in the past 24 hours. 

VRTX is currently listed on crypto exchanges such as Bybit, Bitget, and Gate.io. Data from CoinGecko shows the VRTX price is up 34% in the past 24 hours and reached a high of $0.44. VRTX/USD is currently trading at $0.42, up 89% from its lows of $0.22 on November 22.

The post Crypto token outlook this week: Vertex Protocol (VRTX) appeared first on CoinJournal.

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Web3 gaming and AI project SIDUS burns 6.8B tokens, price skyrockets

  • SIDUS price skyrockets as project burns 6.8 billion tokens.
  • The Web3 gaming and AI project has seen the price of its native utility token jump 40% in the past 24 hours.
  • Buying pressure for SIDUS has pushed it to its highest level since May 2022.

Sidus (SIDUS) price has risen sharply in the past few days, rising to its highest level since May 2022. This comes after the SIDUS HEROES team announced they had burned a staggering 6.8 billion of the native utility token’s supply.

The announcement on Friday revealed the 6.8 billion SIDUS tokens, accounting for 23.13% of the total supply. These tokens have permanently been removed from circulation, cutting total supply to about 22.6 billion.

Buying pressure for SIDUS rose after this reduction in supply. Sidus (SIDUS) currently has a market cap of $140 million, with a circulating supply of 17.5 billion SIDUS tokens.

What is SIDUS?

Sidus is a space-based gaming, metaverse and Web3 platform powered by AI technology and blockchain. Its SIDUS HEROES ecosystem offers play-to-earn gaming and non-fungible tokens (NFTs) and features a dual token system.

SIDUS is the utility token of the SIDUS HEROES ecosystem, while the governance token is SENATE, which users need to participate in project development and decision-making votes. SIDUS is central to the SIDUS HEROES’ metaverse, both for in-game and out-of-game functionalities, including marketplace transactions.

SIDUS price up 780% in a month

Sidus (SIDUS) is one of the biggest gainers in the past 24 hours, trading more than 40% up as its price reached highs of $0.0078. With a daily trading volume of over $9 million in the period, it’s a performance that brings cumulative gains over the past 30 days to +780%.

SIDUS reached an all-time above $0.19 in January 2022, but lost nearly 95% of that as the bear market took a toll. Despite a broader market recovery, the token remained largely down until an uptick in community (which is now above 27k holders) in recent weeks.

Apart from the token burn, another catalyst to the price surge could be the project’s growing list of partners. Just recently, the team shared its list of business partners and investors that includes Animoca Brands, Polygon, OKX Ventures and Hashkey Capital. YouTuber Mr. Beast is also a partner.

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