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Terra (LUNA) jumps 18% in seven days: this is what is fuelling LUNA’s price rise

Terra (LUNA) has seen a tremendous rise over the past week as it tries to correct the recent price drop that resulted from the recent crypto market plunge. At the time of writing, it was trading at $56.30 after a 2.4% rise in the last 24 hours.  

LUNA is the native token of Terra, a blockchain protocol that uses fiat-pegged stablecoins to influence the price of global payment systems. It has a trading volume of $1,202,143,126, a circulating supply of 400 million LUNA coins, and a total supply of 819 million.

Let’s now focus on why the Terra (LUNA) has been rallying in the last seven days.

Forces behind current Terra (LUNA) price rise

One of the reasons behind the current uptrend is the announcement of Terra’s sports sponsorship deal with Major League Baseball’s (MLB) Washington Nationals, a major milestone for the growing blockchain that can be termed as the first-ever decentralized autonomous organization (DAO) vote on sports sponsorship deal in history.

According to last week’s formal proposal from the DAO on Terra’s governance platform to the LUNA community, Terra offered $38.5M for a five-year sponsorship deal for the Nationals.

In the proposal they said:

‘’We started dedicated sports coverage at Bitcoinist last year, and we can firmly say we’ve never seen a sports sponsorship deal quite like this one. It is the first time we’ve seen a community vote through a DAO mechanism – most certainly around a deal secured with a ‘big 4’ league (which consists of the NFL, MLB, NHL, and NBA) in North America… ’We’ve covered quite a bit of ubiquitous sports sponsorship and partnership deals throughout the past year or so, and admittedly, an MLB team was not on our shortlist. The NBA has arguably been the leader in crypto-related deals, including a league-wide deal with Coinbase, and vocal team owner advocates, such as Mark Cuban. Additionally, other headline deals, such as Crypto.com’s acquisition of the downtown Los Angeles arena naming rights, and the NBA’s broader initiatives into blockchain-related properties (think Dapper Labs and Top Shot) have given the league a particularly unique position.’’

MLB has previously worked with Candy Digital and Topps around NFTs; however, the team’s specific deals have been few and the same applies to the NHL and NFL which have also shown limited engagement in blockchain and crypto so far.

For Terraform Labs and Terra, it’s a unique move not only because of the league but also because of its location in the US policymaking, Washington DC.

The deal comes at a time when Terra’s UST stablecoin has established itself as the leading decentralized stablecoin. Terra ecosystem is longing to establish growth that will go beyond the blockchain’s flagship Anchor Protocol product.

In a statement released by the Nationals, Terraform Labs founder Do Kwon stated:

“By approving this sponsorship deal, the community has a new way to engage and educate the public, including the policymakers doing important work in Washington, D.C., about decentralized money and the burgeoning technology that underlies it.”

The post Terra (LUNA) jumps 18% in seven days: this is what is fuelling LUNA’s price rise appeared first on Coin Journal.

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Bitcoin eases off resistance above $45,000: Here’s what top analysts are looking at for BTC price

  • Bitcoin dipped alongside stocks after US inflation came in hotter than expected at 7.5% year over year

  • After dipping below $44k, BTC price recovered to within $45k as analysts outlined potential movements for the flagship cryptocurrency.

The price of Bitcoin broke above a key barrier and traded as high as $45,201 overnight Wednesday, before retreating as the broader market fell during early trades after US markets opened.

Analysts’ take on Bitcoin’s outlook

The drawdown seen earlier took shape as investors digested fresh US inflation data that came in at 7.5% against an expected 7.3% year-over-year. Risk-on assets such as crypto and equities reacted lower, with all eyes now on the Federal Reserve’s rate hike slated for March.

The S&P 500 was down 0.23% and the Nasdaq composite -0.18%, while the Dow Jones Industrial Average stayed just above the flatline.

Crypto trader and analyst Michael van de Poppe observed:

“The Consumer Price Index (CPI) results for the U.S.A. are coming in at 7.5% year-over-year, the expectations were 7.3% year-over-year.$DXY is shooting up and risk-on assets are dropping down like Bitcoin & equities.Likelihood that the FED will start rate hikes in March.”

Crypto trader Cantering Clark says Bitcoin’s dip from intraday highs has brought it back into range. He suggests the cryptocurrency will resume its recent upside momentum if the slip in stocks has also seen a low. For him, the key is for BTC to hold above $43k.

Another analyst, Rekt Capital, says the recent rally may not be over based on the Fear & Greed investor sentiment metric. He notes that at the moment, sentiment towards Bitcoin “is neutral.”

“Extreme Greed precedes local tops. So just based on sentiment alone, this BTC rally may not be close to being over just yet. Key levels such as $43100 & the 50-week EMA flipping into support would confirm this,” he tweeted.

Looking at the BTC/USD weekly chart, the 50-week exponential moving average (EMA) is currently at $44,200.

BTC/USD weekly chart. Source: TradingView

If Bitcoin recovers from today’s slump and breaks above the highlighted EMA and $45k level, analyst Ali Martinez says the main barrier will be around $48,000. Above that, the psychological $50,000 would come into play.

Bitcoin’s inflation hedge status

Bitcoin’s plunge on Thursday alongside stocks saw it continue the high correlation it’s shown with the traditional finance markets since its peak at $69,000 in November 2021. Some analysts say this means BTC is not a better hedge against inflation or as a store of value.

On Tuesday, Bank of America pointed out that Bitcoin was no longer a “good” inflation hedge given its volatility and lockstep trading with the S&P 500 and Nasdaq.

But Gemini co-founder Cameron Winklevoss believes Bitcoin is still the best hedge against inflation, adding to various such calls from within the crypto community and even mainstream investors.

At the time of writing, the BTC/USD pair was hovering around $44,900, about 2% up in the past 24 hours. The cryptocurrency remains positive over the week too, with roughly 22% in gains.

The post Bitcoin eases off resistance above $45,000: Here’s what top analysts are looking at for BTC price appeared first on Coin Journal.

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Concordium lists native token on BitGlobal and Bitfinex

Concordium, a public, proof-of-stake blockchain with a built-in identification layer to meet the regulatory requirements, has officially listed its native token CCD on leading crypto exchanges Bitfinex and BitGlobal, Invezz learned from a press release.

Trading opens on February 10 and 11

CCD token trading will open on Bitfinex starting at 10:00 AM CET on February 10, 2022. Trading on BitGlobal will open on February 11, 2022 at 10:00 AM CET.

Suite of advanced trading features

Founded a decade ago, Bitfinex is one of the world’s oldest crypto trading platforms. It offers a suite of highly advanced and diversified trading features, charting tools, and unparalleled support. BitGlobal offers a user-friendly digital asset ecosystem with increased liquidity and tighter security measures of international standards.

BitGlobal is designed to enable every user to trade, participate, or contribute to the digital assets ecosystem with ease.

Trade CCD for Bitcoin, Ethereum, Tether

Users of both exchanges will be able to exchange CCD for BTC, ETH, and USDT. At first, the exchanges will only support spot trading of the token. The blockchain will bring CCD to more exchanges moving forward, thereby increasing the liquidity of the token and enabling its wider utilization.

Key to blockchain interaction

As the native token of the Concordium platform, CCD is key to blockchain interaction. It can be used to pay for applications via the blockchain’s technology and to pay transaction fees to the validator nodes that secure the network and process transactions. These fees are euro-stable, known in advance, and deterministic.

Classified as payment token by regulator

The Swiss Financial Market Supervisory Authority has classified CCD as a payment token. This means it can be used to settle transactions on-chain, for collateralization, and for all other use-cases applicable in Decentralized Finance (DeFi).

The CCD token will power different ecosystems built on Concordium, lending a special focus on innovation and regulated DeFi as well as decentralized fintech.  

A fair governance structure

The Concordium Foundation will develop and implement a fair governance structure that allows the project to evolve over time. Ultimately, CCD holders will possess the right to vote on-chain in Concordium’s decentralized governance.

The post Concordium lists native token on BitGlobal and Bitfinex appeared first on Coin Journal.

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Laut einem Bericht plant BlackRock, den Krypto-Handel zu unterstützen

  • Die in New York ansässige Investmentmanagementgesellschaft wird ihren Kunden den Handel mit Krypto-Assets über ihre Aladdin-Plattform ermöglichen
  • Einige der Schritte, die das Unternehmen in den letzten Tagen unternommen hat, waren ein Hinweis auf sein Interesse am Kryptowährungssektor

BlackRock, die weltweit größte Vermögensverwaltungsfirma, möchte Krypto-Handelsdienste anbieten, basierend auf einem Bericht von CoinDesk, in dem drei unbekannte Parteien zitiert werden, die Bescheid wissen.

Eine Quelle, wie CoinDesk detailliert ausführte, sagte, dass der Vermögensverwalter seine Aladdin-Anlageplattform nutzen würde, um dasselbe zu unterstützen. Der Name der Plattform ist eine Zusammenziehung von Asset, Liability, Debt and Derivative Investment Network.

Das Unternehmen, das im vergangenen Monat ein Vermögen von 10 Billionen USD verwaltete, wird neben dem Krypto-Handelsdienst auch eine Kreditfazilität einführen. Ersteres ebnet den Weg für Kunden, sich mit den Krypto-Assets als Sicherheit Geld von der Firma zu leihen.

Die zweite Quelle merkte an, dass die Anlageverwaltungsgesellschaft erwäge, „mit direktem Krypto in die Praxis zu kommen“. Die Quelle fügte hinzu, dass BlackRock immer noch seine Anbieteroptionen erkunde.

Der CoinDesk-Bericht zitiert eine dritte Quelle, von der angenommen wird, dass es sich um eine Gruppe von etwa 20 Personen in der Firma handelt. Die Gruppe behauptete, dass BlackRock sich dem Raum anschließen wollte, nachdem sie gesehen hatte, wie andere Unternehmen in die Aktion einstiegen und Gewinne erzielten.

„Sie sehen den ganzen Fluss, den alle anderen bekommen, und wollen auch damit anfangen, etwas Geld zu verdienen“, sagte die Quelle gegenüber CoinDesk.

Keine Quelle bestätigte jedoch das genaue Datum, an dem der Krypto-Handelsdienst eingeführt werden würde.

Der Schritt könnte dazu beitragen, die institutionelle Akzeptanz zu fördern

Zu seinen Kunden zählen insbesondere Stiftungen, Family Offices und offizielle Institutionen wie Staatsfonds, öffentliche Pensionskassen und Regierungsbehörden. Die Entscheidung, in den Sektor vorzudringen, wird daher wahrscheinlich dazu beitragen, die Akzeptanz von Krypto bei institutionellen Anlegern voranzutreiben.

BlackRock deutet seit über einem Jahr einen Einstieg in den Krypto-Sektor an. Ende 2020 bestätigte der Vorstandsvorsitzende des Unternehmens, Larry Fink, dass auf der Website häufig nach Bitcoin gesucht wurde. Drei Monate nach Beginn des Jahres 2021 enthüllte eine SEC-Einreichung, dass die BlackRock Global Allocation Bitcoin-Futures hielt.

Bis Juni hat das Unternehmen auf seiner Karriereseite eine Stellenausschreibung für einen „Engineering Lead for Distributed Ledger Technology“ geteilt.

In diesem Jahr reichte das Unternehmen einen Antrag für ein ETF-Produkt ein, das Unternehmen im Blockchain-Sektor verfolgt. Es hat auch einen beträchtlichen Anteil am Business-Intelligence- und Unternehmenssoftware-Hersteller MicroStrategy, der sich seit einiger Zeit auf einer Bitcoin-Sammeltour befindet.

The post Laut einem Bericht plant BlackRock, den Krypto-Handel zu unterstützen appeared first on BitcoinMag.de.

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Doge Killer is declining, shed 6% of its value in 24 hours: Time to buy?

After hitting an all-time high of over $7,000 in May 2021, Doge Killer is coming down. The dog-themed meme coin lost another 6% today. Will this trend be sustained or is the dip just temporary?

If you’re looking for answers, you’ll get them from this short article, which will also tell you all about the best places to buy Doge Killer now.  

Top places to buy Doge Killer now

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

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

What is Doge Killer?

Doge Killer (LEASH) is a token in the Shiba Inu (SHIB) ecosystem. It is one of many dog cryptos that took the crypto space by storm in 2021. Others are BabyDoge, Drunkdoge, JIND, LAS, and LASM.

Doge Killer was originally conceived of as a rebase token. Its creators then decided to change track and limit the total supply to 107,646 tokens.

The extremely low supply explains the high price. It was trading at around $1,772 at the time of writing, down from its stunning all-time high mentioned above.

Should I buy Doge Killer today?

LEASH is a unique dog coin because typically, dog-themed cryptocurrencies have an artificially high supply. They use it to motivate investors to buy the token and pump the price to one dollar or one cent.

On the other hand, the creators promise holders “lucrative rewards”, but don’t specify what these will be.

Despite its unique premise, it can be extremely volatile, so be careful with any investment you make.

Doge Killer price prediction

Digital Coin Price makes the astounding prediction that LEASH’s price will go up to $2,482 this year. In 2025, it will be trading for just under $4,000. In 2027, its price will be $4,640. Two years later, one LEASH will be worth $7,504.

This may seem like impressive growth, but consider that according to this forecast, Doge Killer will not reach its ATH of 2021 before 2029!

Doge Killer on social media

The post Doge Killer is declining, shed 6% of its value in 24 hours: Time to buy? appeared first on Coin Journal.