Schlagwort: blockchain analysis

Key takeaways

• Shiba Inu is up by more than 30% over the last 30 days, outperforming other major cryptocurrencies.

• Chancer’s presale is now closing in on the $1.3 million mark. 

Shiba Inu has outperformed the other major cryptocurrencies over the past 30 days and could be set to surge higher ahead of the Shibarium launch.

Chancer’s presale continues to move according to plan, with more than $1.2 million raised so far in the current stage.

SHIB rallies ahead of Shibarium launch

SHIB, the native token of the Shiba Inu ecosystem, is up by more than 30% over the last month. The rally makes it the best performer amongst the top 20 cryptocurrencies by market cap during that period.

At press time, the price of Shiba Inu stands at $0.00001006 per token. The rally can be attributed to the upcoming Shibarium launch. The Shibarium launch is expected to take place over the next few days or weeks. 

Shibarium is Shiba Inu’s upcoming layer-2 blockchain network built on Ethereum. The blockchain is expected to transform Shiba Inu, a memecoin, into a complete ecosystem.

SHIB could rally higher and likely hit a one-year high of $0.00014 once Shibarium launches. 

What is Chancer?

While Shiba Inu has been rallying, the broader market has been stagnant. However, that hasn’t affected Chancer’s presale. Chancer is a web3 project designed to decentralise the betting ecosystem. 

Chancer is a web3 peer-to-peer (P2P) custom betting platform that allows users to place bets on a wide range of events, including custom-made ones. The bets can be live-streamed to ensure transparency. Chancer will operate as a completely decentralised online gaming platform.

Chancer’s platform wants to improve the services offered by traditional sports and casino betting platforms. Chancer users can bet on any event, even ones they make up themselves. 

The funds from the presale rounds would be channelled towards building Chancer’s decentralised P2P betting platform. The Chancer platform will come with some exciting features, including betting markets in real-time and based on user interests, social media connections, and expertise. 

Users can set up their custom P2P betting markets, allowing other users to bet on their events and games. 

Chancer’s second presale closes in on $1.3 million

Chancer is currently in its second presale stage, and it has raised more than 60% of the required funds. So far, the team is close to generating $1.3 million in the second stage. 

There will be 12 presale events, with a combined target of $15 million. In the second stage, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the third presale round.

CHANCER will power so many activities on the platform. By holding the token, users can create custom P2P betting events on the Chancer platform. Users can also participate in markets launched by others. 

With the CHANCER token, users can create, participate in, and profit from their predictive markets. 

The CHANCER token can be purchased via the official Chancer website. Simply connect any supported wallets to the presale link. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

Visit the Chancer website to get more information about the presale. 

Should you buy CHANCER tokens now?

Presale is perhaps the best time to invest in Web3 projects. During this period, the project is only accessible to a limited number of investors, and prices are usually discounted. 

Chancer could become a leading Web3 project thanks to its effort of trying to decentralise the betting ecosystem. If it succeeds, Chancer could gain massive adoption over the coming months and years.

If the adoption level rises, CHANCER’s price could experience a massive surge, and early investors could benefit. 

The post Shiba Inu price prediction as Chancer’s presale approaches $1.3M appeared first on CoinJournal.

• Cardano has been criticized as one of the biggest ghost chains in the industry.

• But its metrics shows that its network activity is doing well.

Cardano, one of the most popular blockchains, is also a highly controversial one as concerns about its ecosystem growth remain. Some crypto watchers believe that it is a highly overvalued project while others argue it is a ghost chain. 

Is Cardano a ghost chain?

A ghost chain is defined as a crypto project that has nothing going on in its ecosystem. And there are so many such chains in the crypto industry. Some of the top ghost chains are Kadena, Velas, and XDS Network among others.

Cardano, on the other hand, cannot be defined as a ghost chain because its ecosystem is growing. For example, its DeFi ecosystem is thriving even as the crypto winter continues. Data compiled by DeFi Llama shows that Cardano’s TVL has jumped to $227 million, making it the 14th biggest chain in the world.

In ADA terms, Cardano’s TVL has jumped to an all-time high of over 750 million ADA coins. This growth has been driven by the rising number of DeFi protocols in Cardano and the performance of platforms like MuesliSwap, MinSwap, SundaeSwap, and Indigo.

Further, Cardano also has many users. As shown below, the network is averaging over 30k daily users. Most ghost chains rarely have any users.

Cardano is also active in the NFT industry. Data by CryptoSlam shows that the total sales of Cardano NFTs in the past 24 hours totaled $277k, making it the eighth biggest player in the industry after Ethereum, Polygon, Mythos, Immutable X, BNB Chain, and Bitcoin.

Cardano’s valuation is stretched

Therefore, we can conclude without a doubt that Cardano is not a ghost chain. Instead, I believe that Cardano is just highly overvalued. According to CoinMarketCap, Cardano is valued at over $10 billion. At its peak, it was valued at over $90 billion. 

Despite the drawdown, it is hard to explain this valuation since $10 billion is a lot of money. Its valuation means that Cardano is valued higher than American Airlines, Lazard, and Moelis. 

The biggest challenge is that the ecosystem is getting highly competitive. Most of this competition is coming from layer-2 networks like Arbitrum, Polygon, Base, and Optimism among others.

Cardano has also failed to attract the biggest players in industries like tokenization, stablecoins, and DeFi. Instead, big players like AAVE, Uniswap, and PancakeSwap have moved to L2 networks.

How to buy Cardano

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• SEI is an upcoming layer-1 network in Binance launchpool.

• Data by Aevo shows that investors are pricing in a market cap of $500 million.

SEI token will be in the spotlight next week as Binance is scheduled to list it on its platform. Data published by Aevo, a new crypto futures platform shows that the token will likely open at 26 cents. If this happens, it means that the token’s market cap will be over $500 million, making it one of the most successful launches this year.

SEI is the 36th project coming from Binance launchpool. The other blockchains to come from the ecosystem are Sui and Bella Protocol. According to its website, Sei is a layer 1 network that specifically focuses n trading. It will enable developers to build projects that are at the intersection of centralized and decentralized exchanges.

Sei uses the Twin-Turbo consensus and multiple degrees of parallelization to reduce latency and boost throughput. Its website identifies several projects in its ecosystem, including Alpha Venture DAO, Apollo DAO, and Astroport.

The challenge for SEI and other new layer-1 and layer-2 networks – including Coinbase’s Base, is that the industry is highly saturated, with most activity happening in Ethereum. For example, PayPal selected Ethereum as its blockchain for the new PYUSD stablecoin.

Many developers are also moving to layer-2 networks like Arbitrum, Optimism, and Polygon. Most importantly, many of the recently launched layer 1 networks like Aptos and Sui have not gained traction among developers.

Therefore, there is a likelihood that SEI token price will likely rise shortly after listing and then retreat shortly after that.

The post Is it safe to buy the SEI token after exchange listing? appeared first on CoinJournal.

• New meme sensation Shiba Memu has raised $1.697 million

• Shiba Memu gears to be a sustainable meme cryptocurrency

• The token has a huge potential of up to 50x

There is a lot of enthusiasm around the launch of a new meme cryptocurrency, Shiba Memu. The lovely puppy of a cryptocurrency has caught the eye of investors looking for a meme out of the ordinary. Unlike its siblings like Shiba Inu, Shiba Memu is an AI-led meme cryptocurrency. As such, it has greater capabilities, making it a worthy rival with huge potential. That partly explains the fast-selling presale, which has raised $1.697 million in a few weeks.

Leveraging the power of AI through Shiba Memu

Shiba Memu is unique to other meme cryptocurrencies in that it incorporates AI. AI enables Shiba Memu to maintain momentum and be a sustainable project. That’s due to the fact that Shiba Memu doesn’t rely on human-led PR to increase popularity. It can sniff out the best creative ideas in advertising, generate hype and drive growth. 

Shiba Memu also grows and becomes better each day. As an autonomous marketing machine, Shiba Memu can learn from its successful marketing interventions. It can also improve its own strategies and apply marketing strategies that align with new trends. 

But Shiba Memu can also forecast trends and tailor its marketing. It does it through its predictive analytics capabilities, which make the puppy move with time. As you may be aware, the meme landscape generates a lot of online chatter and sentiment. Shiba Memu can use its sentimental analysis to distinguish between important and unimportant messages. This way, it can craft objective responses to keep its community informed.

Finally, Shiba Memu can build positive interactions with users. It does so through an AI dashboard. Users can ask questions, provide feedback, and get informed on the latest in creative advertising. The engagement could drive hype for the project and allow Shiba Memu to remain sustainable. 

The unique Shiba Memu presale

Forget those endless weeks or months of presale. Shiba Memu’s presale occurs in eight weeks. After this, the presale will close with whatever amount is raised and tokens released to the holders. 

However, the best part is that the price of SHMU increases daily at 6 PM. By the end of the presale, the price will be $0.0244, up from the initial $0.011125. With this price dynamic, Shiba Memu generates value for investors daily.

What is the price potential of Shiba Memu?

Given the early subscription for the project, it is interesting to think about the potential of Shiba Memu. As a snapshot, meme cryptocurrencies rose from a valuation of $0 in early 2020 to $20 billion in early 2022. Investors see them as vehicles for quick gains, a task they have delivered.

Shiba Memu enters the meme space, riding on the momentum that started in 2020. In the past, meme cryptocurrencies have risen by up to 1000% in a few days after going live. Shiba Memu stares at a similar potential once it launches on exchanges. 

But Shiba Memu could go the extra mile. AI is fast growing and is hype in itself. Shiba Memu could ride on the meme and AI hype to become an overnight sensation. 

There is also the question of the future potential of which other meme cryptocurrencies have fallen short. With the capability of AI, Shiba Memu could tap into more use cases to sustain growth. This means the potential for Shiba Memu to become a 50x investment is nearly an expectation.

Should you invest in Shiba Memu now?

A lost opportunity to invest in a good project could haunt. As we saw with the meme tokens of the past, procrastination always brings lamentation. These tokens have returned big to its early movers.

Any ideal investment like Shiba Memu is best taken when the project is launching. This is when the price is low and demand is locked. Thus, investing in the meme token could be right now than when the token has been listed.

The post Huge anticipation as Shiba Memu clocks nearly $1.7M in presale appeared first on CoinJournal.

Key Takeaways

• Ethereum completed its long-awaited Merge upgrade in September 2022
• Stakers are currently earning approximately 4% APY from their Ether tokens
• 19% of the total Ether supply is staked, the lowest ratio of any of the leading coins
• Staking rewards are divided among stakers, meaning the APY earned decreases as more users stake
• Demand on the network increases gas fees and ultimately contributes to more APY, meaning there are several factors at play when trying to assess where the yield may land
• All in all, it remains up for debate as to where the yield is headed, despite many analysts predicting basement-level yields of 1%-2% are inevitable

 

The fundamentals of Ethereum were entirely transformed in September 2022 when the Merge went live, the blockchain officially becoming a proof-of-stake consensus. The implications for this are many, however one of the more fascinating aspects is that investors can now earn a yield from staking their Ether tokens.

Let’s dive into how popular staking has been, where it’s trending going forward, and speculate about where the all-important APY may land.

Ethereum stakers are increasing

Ethereum staking has proved wildly popular. There is currently almost 18.75% of the total supply staked. The below chart from CryptoQuant shows that not only has the increase been consistent, but the rate of increase has steepened noticeably since the Shapella upgrade in April.

Shapella finally allowed staked Ether to be withdrawn, with some early stakers having had tokens locked up since Q4 of 2020. There was hence some concern that Ether would be withdrawn en masse once the Shapella upgrade went live, the subsequent sell pressure bound to dent the price. Not only has this happened, but staking has only become more popular since the upgrade.

Despite the popularity of Ethereum staking, and the lack of withdrawals sparked by Shapella, the network’s staked tokens as a percent of the total supply still pale in comparison to other proof-of-stake blockchains.

The chart below highlights Ethereum in yellow, its 19% ratio far below the other major proof-of-stake coins. Assessing the rest of the top 10 by staked market cap, these coins average a 53% stake ratio, with only BNB Chain remotely close to Ethereum, sitting at 15%.

If we then shift the chart to assess the total market cap of the staked portion of coins, Ethereum’s dominance is clear. Its 19% staked tokens carry a value of $43 billion – more than the other nine cryptos’ staked market caps combined.

Ethereum’s low staked ratio implies that it should have more, at least if other coins can be used as a benchmark. This is especially true when considering recent bullish developments on the Ethereum network which suggest it may be solidifying its place as the market-leading smart contract platform. Most notable of these could be discussion around potential Ether futures ETFs, as well as the announcement that PayPal is launching a stablecoin on the network this week.

So, what happens to the staking yield if the amount of staked Ether does indeed continue to increase? Remember, the total annual yield paid out to stakers is calculated as follows:

[(gross annual ETH issuance + annual fees*(1-% of fees burned)]

These total staking rewards are then divided by the average ETH staked over the year to commute the APY.

In other words: The amount of ether staked is in the denominator of the fraction. So as the amount staked gets bigger, the APY shrinks. This effect can already be seen in what has happened to date. Analysts had predicted a yield of 10%-12% ahead of the Merge, however today it is closer to 4%.  And that is 4% with its staking ratio completely out of whack compared to other proof-of-stake coins, as mentioned above.

What happens next?

With the amount of Ether staked increasing incessantly, is the yield therefore primed to collapse?

Some analysts believe it is headed towards 1%-2%; some even think less. The reality is that nobody really knows because, as always, demand relies on a variety of factors.

We need to remember, as we often say in these columns, that speculating on the future of crypto is so difficult because we have such little data to work with. This is true for Ethereum as a whole, which only launched in 2015, but especially so regarding the yield, as the Merge has only been live since September (or since April if you count the “true” completion date as post-Shapella).

Hence, it is a challenge to forecast the staking yield going forward. We have focused on the impressive growth of staking thus far, and while this will drive the yield down, demand on the network will increase the numerator of the aforementioned formula and kick the yield up.

Indeed, looking at total transactions, the rate has been quite resilient throughout the last eighteen months, despite the bloodbath in the sector last year.

Then again, crypto is changing quickly. It remains difficult to foresee how regulation, infrastructural development (restaking and Eigeanlayer spring to mind as an example) and the macro landscape, just to name a few factors, will affect the climate going forward.

Speaking of macro, there is also the matter of trad-fi yields. Currently, the Fed funds rate is 5.25%-5.5%, having been near-zero prior to March 2022. Backing out probabilities from Fed futures implies the market is expecting the end of the cycle is near. Not to mention, with the mammoth amount of debt in the current system, rates cannot stay high forever.

Could falling trad-fi yields affect demand for staking yield? Perhaps – while it is hard to separate the overall liquidity drain and suppressing of risk assets that occurs out of hiked rates, the superior (and risk-free) return is definitely a key reason why capital has flooded out of DeFi in the last year. While previously-dizzying DeFi yields have collapsed, trad-fi yields have rocketed as the Federal Reserve has scrambled to rein in rampant inflation.

Furthermore, if yield does fall down towards 1%-2%, stakers could begin to pull out and search elsewhere for income. This would therefore create a reflexive relationship with regard to the yield.

All in all, it remains too early to speculate about where the Ethereum staking yield is ultimately headed, at least with any degree of confidence; it depends on too many factors and the sample space is too brief to date. It does seem likely, if not inevitable, that the yield will decline to some degree, but the question of how much is a difficult one to answer. While many are adamant the APY will cascade downwards to uber-thin levels – and for the avoidance of doubt, it may do – we have presented here at least some points of consideration as to why the situation may not be as clear cut.

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