Schlagwort: blockchain markets

Anchor Protocol’s rally of more than 22% in early trades Thursday isn’t anything new in the crypto space, yet it might be for this Terra (LUNA)-based decentralised finance protocol.

ANC, the governance token on the Anchor network has skyrocketed by more than 77% in the past 7 days and was up more than 22% intraday today before paring some of the gains.

Looking at the token’s price movement, we see it traded just above $1.34 on 3 February 2022. Fast forward to today, ANC hit a high of $4.95 against the US dollar, buoyed by massive buying pressure for the token likely due to the potential rewards from staking it at an up to 32.69% APY (annual percentage yield) on Binance.

Another token, Highstreet (HIGH) attracts up to 40.19% APY, although HIGH is down more than 6% in the past 24 hours.

#Binance Staking launches $ANC @anchor_protocol and $HIGH @highstreetworld staking with up to 40.19% APY

➡️ https://t.co/1SL4x5KBLY pic.twitter.com/vPXnKUUtGn

— Binance (@binance) March 2, 2022

ANC pares gains after 22% rally

Anchor Protocol’s token was trading around $4.59 at press time, having shed some of the early gains seen today. However, it’s still impressively outshining other tokens by a +15% return on the day.

Can ANC price go higher? Probably, especially if buying pressure remains intact amid the scramble to lock tokens for the staking rewards. Notably, though, the upside also highlights the reality of crypto markets- assets are highly volatile and what was rocketing today could plummet with the bleep of a second.

But given the positive outlook for the Terra blockchain ecosystem after its recent $1 billion Bitcoin-denominated reserves for the dollar-pegged TerraUSD (UST) stablecoin, things could be even rosier for ANC short term.

According to one analyst, Javon Marks, also thinks ANC price is not done with the upside path for now. According to him, the likelihood of going all the way to above $6.00 is possible if bulls hold the support level at $3.96.

“ANC’s 9h chart remains on EXTREME ALERT as technically, there is MORE! ANC being above $3.96 allows for it to have no resistance level until the target at $6.61! This means, Anchor Protocol is setup to climb over 30% more to reach $6.61 and looks to be in the process,” Marks said as ANC/USD climbed above the $4.00 level.

ANC reached its all-time high of $8.23 on 19 March 2021.

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The Ukrainian government has canceled a planned crypto airdrop as the Russian invasion continues. With it, devious hackers have pounced again.

Twitter users identified the newly minted token Peaceful World (WORD) token distribution from Ukraine’s Ethereum wallet as a potential phishing scam.

Hackers trying to spoof WORD

Ukraine’s Ethereum wallet seemed to distribute a newly minted token, but suspicions have emerged that hackers were trying to spoof the token in a scam.

Mykhailo Fedorov, the country’s deputy prime minister and minister of digital transformation, made the announcement on Twitter via his verified account today. He tweeted:

After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the aggression.

Country to support its armed forces via NFTs

Fedorov said Ukraine would announce non-fungible tokens (NFTs) to support its armed forces, but pointed out the country has no plans to issue such.

The country officially announced the airdrop on Wednesday, after which government officials released no further information and made no announcements regarding the event, which had been slated for Thursday.

Goal of drop was to reward donors

Yesterday’s announcement indicated the purpose of the initiative was to reward crypto donors. After the intervention of malevolent third parties, the much-anticipated event fell through.

Crypto donations to Ukraine total $30M

Ukraine has raised around $30 million since it started accepting crypto donations about a week ago, Fedorov’s most recent update on Telegram shows. 

They have been raising money via Bitcoin, Ethereum, Polkadot, and other altcoins like Dai, Candle, Dogs of Elon, and more. Funds are also being raised in stablecoins like Tether and USDC.  

Etherscan data shows the Ukrainian Ethereum wallet has officially received crypto assets worth over $15.9 million, with Ethereum (ETH) only accounting for about $8.1 million. The rest is in the form of the above-mentioned stablecoins and altcoins.

Ukraine was at the forefront of crypto adoption

Before the invasion, Ukraine was a pioneer of crypto. It also became the first country in the world to officially ask for donations in crypto. The hryvnia has crashed and the invasion has impacted electronic payments adversely as well. 

 

The post Ukraine cancels airdrop amid phishing attempt appeared first on Coin Journal.

Ignite Tournaments secured a total of $10 million in funding from strategic investors to create the first mobile play-to-earn (P2E) esports tournament and streaming platform in history, CoinJournal learned from a press release.

Yield Guild and Animoca Brands led crucial investment rounds

The funds were raised in two crucial investment rounds. The first, a $3 million seed round, was co-led by Yield Guild Games and Ascensive Assets. Ignite also closed a $7 million strategic round in February 2022, co-led by Animoca Brands, Infinity Ventures Crypto, and Moon Holdings Fund.

These notable investors bring decades of experience in the traditional and blockchain gaming industry. Robby Yung, CEO of North American Operations for Animoca Brands commented:

Animoca Brands has built its success by investing in and partnering with projects with strong fundamentals both in and out of the gaming industry. It is under this exciting context that we are eager to both invest in as well as to explore integrating our games with Ignite Tournaments.

Thomas Vu, Former Head of Creative and Franchise at Riot Games and Partner at Moon Holdings Fund, added:

We are bullish on Ignite Tournaments. When I led multiple strategic efforts at Riot Games, I always thought that a ‘plug-and-play’ tournament would benefit players. It was inevitable that someone would build such a platform. I am delighted to see what Krystal and Tony have built, and look forward to supporting them in play-to-earn and traditional gaming.

Transforming esports

Ignite Tournaments will lower the entry barrier for gamers worldwide by providing the tools of P2E tournament organization. Payouts are made in NFTs and cryptocurrency. You can stake to earn additional rewards. Ignite is also working on developing web 3.0 infrastructure to improve esports payouts.

Brian Lu, Venture Capital Investor at Infinity Venture Crypto concluded:

It’s clear to me as both a former competitive gamer and VC investor that Ignite Tournaments will completely transform competitive mobile gaming. I am co-leading this round because I want to see Ignite Tournaments add that immense value to all games worldwide; to both IVC’s game portfolio and beyond.

The post Ignite secures $10M of funding appeared first on Coin Journal.

THORChain (RUNE) price has made a huge comeback rallying 26% yesterday after a week of consistent growth that saw a total of 51% increase over the past week. In recent days, it has been one of the networks that crypto enthusiasts are keeping a keen eye on.

At the time of writing, it is trading at $5.57 after hitting a high of $5.77 and a low of $5.25.

What is THORChain (RUNE)?

Before getting into what is behind the current RUNE price hike, let’s first look at what it is.

THORCHain is a decentralized liquidity protocol that enables users to exchange cryptocurrency assets with full custody of their assets. Its native token is referred to as RUNE.

Why is the price of THORChain (RUNE) price rising?

There are several factors behind the current RUNE price surge but the factors are Terra integration and intermediaries bridges elimination.

• Terra integration

In a tweet sent on Tuesday, March 1, 2022, the crypto comapany said that Terra integration is ready for release to the public. Terra Smart Contract Auditor is working together with its developers to ensure that the integration is in full operation before the launching of the mainnet.

THORChain-integrated chains users will be able to exchange stablecoins and LUNA tokens once the integration is complete. Besides, It is also working on DeFiSpot, a decentralized multi-chain, that is built on top of THORChain and it is also ready for a debut alongside Terra.

In addition to the recent strong returns on THORChain-integrated chains, this project offers “boosted APYs’’ where users can now earn 17% on Bitcoin, 19% on native Ethereum, and 60% on Binance USD.

• Intermediaries bridges elimination

THORChain is also working on eliminating intermediaries to allow users to transfer assets across the blockchain directly.

The post THORChain (RUNE) price rallies 51% in seven days: this is what is fuelling the uptrend appeared first on Coin Journal.

The live Ren price today is $0.40 with a 24-hour trading volume of $113.5 million. Ren is up 7.33% in the last 24 hours.  If you are attracted to unique features and want to learn how and where to buy Ren, this guide is for you.

Top places to buy REN now

eToro

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Bitpanda

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What is REN?

Ren is an open protocol built to provide interoperability and liquidity between different blockchain platforms. The protocol’s native token REN functions as a bond for those running nodes which power RenVM, known as Darknodes.

Ren aims to expand the interoperability, and hence accessibility, of decentralized finance (DeFi) by removing hurdles involved in liquidity between blockchains.

Ren is ultimately designed to overcome barriers to entry and investment for DeFi projects. As a plug-in, it allows DeFi projects to bring foreign cryptocurrency assets to their offerings.

More broadly, users can swap any token between any two blockchains without middle steps such as using so-called “wrapped” versions of tokens.

Should I buy REN today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.

REN price prediction

CoinQuora is bullish on Ren. They predict it will reach $2 by the end of 2022 if the uptrend continues. In the first half of 2022, it’s going to show fast growth, up to $0.9. Then, the growth will slow down, but without major drops.

By 2024, Ren will have reached $10 thanks to anticipated partnerships and integrations, which will boost the price.  

REN on social media

Token Terminal is an underappreciated resource in the DeFi space. Good to see sustainable protocols highlighted @tokenterminal

Ren is right behind Ethereum with a 29.3x P/S ratio ⚖️ pic.twitter.com/ubNvXLZhkK

— Ren (@renprotocol) February 14, 2022

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