Schlagwort: blockchain markets

Aptos Labs’ newcomer cryptocurrency Aptos (APT) was off to a rocky start as its value continues to drop. Aptos price plunged further today in its debut on major crypto exchanges in a move seen as its welcome to the ongoing crypto winter.

Coinbase, FTX, OKX, Huobi, and Binance were among the first exchanges to open spot trading for APT at 1:00 UTC Wednesday.

In a dramatic turn of events, the token’s price had already dropped 30% since its launch to the time it was being listed on Coinbase at about $9. It then dropped almost immediately by a further 50% to trade at a daily low of $6.69. At press time, the coin was trading at $8.31 According to Coinmarketcap.

To help traders who want to jump onto Aptos at its current low price, Coinjournal has prepared a brief guide on where to buy the APT token.

To find out more, please continue reading.

Where to buy Aptos cryptocurrency

What is Aptos (APT)?

Aptos (APT) is the native cryptocurrency of the newly launched Aptos Autumn blockchain that was launched by Aptos Labs on October 17, 2022.  

Aptos Labs were the creators of the failed Diem stablecoin project that Meta Platforms Inc (formerly Facebook) had attempted to launch sometime back. Other products that Aptos Labs has developed to help users in We3 include the PetraWallet, AptosNames, and Aptos Explorer.

Despite the Aptos Autumn blockchain starting off to a controversy about its tokenomics which the team has spent much of the post-launch time dispelling, the team is also working to integrate the blockchain with a number of new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.

Should I buy APT today?

A majority of the crypto community has very high hopes for the newly launched Aptos blockchain and its Aptos (APT) token. Therefore, if you are looking to invest in a newly launched token at a low price, APT could be a good choice now that its price has plunged since its launch.

However, you should proceed with caution owing to the high volatility nature of cryptocurrencies and the fact that there are concerns about APT’s tokenomics and allegations about its processing speeds being lower than previously anticipated.

Aptos price prediction

It is difficult to give a precise Aptos price prediction and analysts expect the token to drop further in the coming days. However, the majority of investors are bullish on the cryptocurrency.

Aptos social media trends

1/ Welcome to @AptosLabs — we’re excited to re-introduce ourselves!

While @AptosFoundation will support and develop the Aptos network and ecosystem, Labs will develop tooling and products on the Aptos blockchain that redefine the web3 user experience ⬇️https://t.co/ENHW5b5xUD

— Aptos Labs (@AptosLabs) October 18, 2022

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It feels like nothing but the words of Jerome Powell matter in markets right now.

In looking at the data, it’s kind of true. I plotted the correlation of Bitcoin against the S&P 500 since the beginning of 2017, and the results show that the correlation has generally picked up over time. This really does shoot down talk of the “inflation hedge” narrative that proved so popular during the pandemic.  

But should correlations not come down over time? Well, not really. Think back to 2017, and the texture of the crypto landscape. It was still a niche asset; it was only beginning to get covered in the mainstream – and certainly nowhere near the level of digital ink that is spilled over it these days.

Today, we have public companies holding it. I took a visit to El Salvador this summer, where I paid for goods with it. These are remarkable developments compared to just a few years ago. Point being, Bitcoin is now in the mainstream.

And being a mainstream financial asset – and one that is substantially further out on the risk spectrum – it will indeed be influenced by the market.

2022

Indeed, this correlation has hit all-time highs this year, moving in lockstep with the stock market. What was the upward shift caused by? The interest rate environment has transformed entirely.

Following a decade of historically low interest rates, inflation has burst out at the seams as a result of incessant money printing and stimulus spending through the pandemic. In order to rein this in, central banks have been forced to hike, with the Federal Reserve in the US leading the charge.

Nothing sucks liquidity out of a market more than rising interest rates, and this is particularly true for high risk assets, such as tech stocks, which discount cash flows back to the present – discount rates which are now measurably higher.

And so – and this is something that is frequently overlooked – Bitcoin is now in a bear market while the wider market is too. Because for the first time in its existence, Bitcoin is experiencing a macro climate not awash with quantitative easing, basement-level interest rates and bullish sentiment. And it’s creaking at the knees – just like every other financial asset is.

Correlations rise in crises. Sellers are indiscriminate when a flight to quality occurs; liquidity is sought, defensive positions are taken and cash reserves rise. Bitcoin, for the first time in its history, is experiencing that the hard way.

In this context, it is no surprise that the correlation has risen.

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Quant (QNT) cryptocurrency has been on a sustained bullish trend in the past week as the majority of cryptocurrencies including Bitcoin and Ethereum struggled to get a footing after months of a bear market.

Although QNT is on a downtrend today, having lost about 6% in the past 24 hours, the coin has gained about 26.3% in the past seven days. The coin has seen a resurgence that has seen it beat Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. But why?

Let’s delve into the forces propelling this cryptocurrency high in such tough times.

Why Quant price surged 26% in the past week

Interestingly, there has not been any major news about Quant blockchain or its QNT token over the recent past that would spur such a performance for the coin. But all the same, a blockchain analytics startup called Santiment has attributed Quant’s price surge to “Volume, daily active addresses, and whale accumulation.” The startup says that whales have accumulated 15% of QNT tokens in just five months.

Data from Intotheblock also shows that about 60% of holders purchased QNT between one and twelve months ago.

The majority of Quant’s network activity can be attributed to the recent changes where the network introduced the Tokenize mechanism back in June allowing users to generate QRC20 tokens that are compatible with ERC20 tokens. Quant also supports QRC21 tokens allowing users to build and deploy safe, interoperable non-fungible tokens (NFTs).

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Japanese anime-inspired NFT initiative Azuki is expanding its presence in Web3 with the launch of a physically-backed token (PBT). The PBT will allow users to generate digital tokens to represent real objects on the Ethereum blockchain allowing on-chain ownership of tangible assets.

The PBT will give businesses and content creators a tool for creating experiences and next-generation storytelling for their audiences.

Physical Backed Token standard

Creating digital representations of real-world objects is not a new concept. However, maintaining the link with the object throughout its lifetime is still a challenge and that is what Azuki’s new PBT token standard aims to solve.

The Physical Backed Token standard technology provides complete on-chain, decentralized identification, and monitoring of the entire ownership history of physical goods through their digital representations. It introduces trustless authentication where anyone and everyone can freely authenticate, validate, and construct interactions with the objects.

Azuki’s scan-to-own experience

Azuki’s PBT offers a “scan-to-own” experience that allows users to generate digital tokens by simply scanning real objects. The person who scanned the physical item (who is also the owner of a physical item) then becomes the owner of the generated digital token.

According to Azuki, several Web3 projects have developed ways of developing digital tokens for physical products but in most cases, the physical product and the generated digital token are immediately separated after the digital token is minted. Azuri has gotten around this drawback by providing decentralized authentication and tracking of the physical product throughout its lifetime.

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BlockFills has partnered with Basis Capital Markets, an FCA-regulated affiliate, to offer both spot crypto assets and cash-settled contracts for difference (CFD).

BlockFills, one of the crypto industry’s fastest growing trading and financial technology providers, is looking to bring more investors into the market via its integration of digital assets CFDs (“contracts for differences”).

BlockFills adds cash-settled CFDs via front-end Phoenix

In an announcement on Monday, BlockFills said it would be offering the CFD product via its Software-as-a-Service (SaaS) solution Phoenix. The premier front-end platform that previously only supported spot crypto trading, is targeted for institutional investors.

According to the fintech firm, Phoenix will now support both spot crypto assets and cash-settled CFDs or the so-called perpetual futures.

Nick Hammer, the co-founder and CEO of the Chicago-based company, noted in a statement that the integration is key to a market that has long sought “a trading solution that combines deep liquidity in cash-settled crypto derivatives with a superior front end.” 

“The appeal of trading in volatile markets without the complexity of physical settlement has already generated large amounts of interest in our offering. We expect that trend to continue,” Hammer commented via a press release.

To offer the new product, BlockFills has partnered with Basis Capital Markets, the company’s FCA-regulated London-based affiliate. The institutional-focused platform will help bring the perpetual futures product to non-US institutions around the world.

The company says qualified clients will have access to deep crypto CFD liquidity, available 24/7 and with prices across multiple fiat currencies, including the US dollar, Euro, British Pound and Japanese yen.

BlockFills launched in 2018 and currently offers its digital asset technology to institutional clients in more than 50 countries. In February 2022, as CoinJournal reported, BlockFills and Nexo partnered in a deal aimed at extending prime brokerage services to leading cryptocurrency miners.

In June, the company announced the listing of CME Group crypto derivatives products.

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