Schlagwort: blockchain markets

X2Y2 price has been soaring since February 16. It has risen by more than 200% in a little over two days.

At the time of writing, it was trading at $3.56 up 16.20% in the last 24 hours having hit a daily high of $4.17and a daily low of $2.64.

Though it is normal to see a new token rise immediately after launch, X2Y2’s surge has made headlines after jumping by over 200% in two days. Let’s take a deep dive into what is propelling the surge.

Why is the price of the X2Y2 token rising?

One of the factors being attributed to the current X2Y2 price surge is its launch on February 16. The X2Y2 Ethereum-based NFT trading platform team conducted a vampire attack, a tactical move that projects use to distribute free tokens to incentivize users of OpenSea to start using their product. LooksRare also used the same move.

In its case, LooksRare dropped tokens for OpenSea users who had traded over 3 ETH on OpenSea and also rewarded its active users. While the method attracted some traffic for LooksRare, it also led to some suspected cases of wash trading on the platform.

X2Y2 airdropped 120 million tokens, which is 12% of its 1 billion token supply to 861,417 wallets had traded on OpenSea between mid-June and mid-December 2021. Token distribution was proportional to their trading activity on OpenSea. In reciprocation, the Airdrop claimers were to list their OpenSea-listed NFTs on X2Y2 at the same price they list on OpenSea.

Although OpenSea is the leading NFT trading hub although it does not have a cryptocurrency token of its own, other alternatives are rapidly cropping up and trying to offer a better user experience as they aim at snatching the OpenSea users base. And one of the ways competitors are doing so is through Airdrops like what X2Y2 did.

X2Y2 tokenomics

X2Y2 tokenomics design was almost similar to that of the LooksRare (LOOKS) token, only that X2Y2 will pay token stakers and also an additional platform cut-off fee paid in WETH rather than rewarding users for trading.

Staking X2Y2 tokens currently is over 8000% per annual yield. In addition, the platform also rewards staking NFTs.

Listing an NFT on X2Y2 is also counted as an NFT staking and makes the users eligible for free rewards.

The post X2Y2 token price jumps over 200% in two days: what is causing the new token to rally? appeared first on Coin Journal.

Aave and the three other tokens COMP, MKR and REN have shown ‘clear price bottoms recently’, according to on-chain analytics platform Santiment.

Aave’s price has dipped 2.5% in the past 24 hours and nearly 15% over the past week as of writing, with the altcoin’s price falling alongside that of major cryptocurrencies such as Bitcoin and Ethereum.

The top two crypto assets by market cap are down 4% and 3.3% respectively amid a slowdown across the markets, with sentiment driven by inflation concerns, the US Federal Reserve’s move to hike rates and tensions related to the Russia-Ukraine crisis.

While cryptocurrencies are likely to trade lower as they mirror losses in the equities market, Santiment has noted that Aave (AAVE), Compound (COMP), Maker (MKR) and Ren (REN) could offer a great buy opportunity in the short term.

In a “spotting the dips” analysis, Santiment points to the ratio of active deposits to daily active addresses (AD/DAD) to highlight that the four altcoins could be trading at “clear bottoms.”

 “AAVE, COMP, MKR, and REN have all shown very clear price bottoms recently. And they have all been accurately predicted by looking at how many active deposits have made up the total address activity of [the] asset,” the analytics platform noted.

Aave (AAVE)

Looking at Aave, Santiment notes:

“Looks like price likes to grow from this metric’s bottom. We could suggest that low values of AD/DAD ratio are indicating a nice buy opportunity.”

AAVE chart showing the AD/DAD ratio. Source: Santiment.

On the likelihood of opposite price action, the platform shared:

“Higher levels of AD/DAD indicate ‘exit’ points, where holders probably tend to exit their positions. The higher deposits (AD), the higher holders ‚panic‘ level.”

Compound (COMP)

Santiment suggests Compound (COMP) is also poised for an upside. “Compound’s AD/DAD dipped to all time low just a few days ago. Good sign,” they wrote.

Compound chart showing the dip in the active deposits to daily active addresses. Source: Santiment

Maker (MKR)

Maker’s AD/DAD also shows the latest dip has pushed prices to a decent buy level. However, it’s likely to dip even more after reaching current levels at the end of January. Santiment says the ratio could surge more, indicating further declines, but “not as strong as other tokens.”

REN (REN)

REN/USD touched year-to-date lows on 24 January, with a decent spike in February helping it break above $0.40. However, an 11% dip over the past seven days has left it battling pressure around $0.35.

Another “panic” move to recent lows could offer a fresh buying opportunity.

The post Aave (AAVE), Compound (COMP) and Maker (MKR) might offer buy opportunities: Santiment appeared first on Coin Journal.

Bullieverse, one of the first 3D metaverses centered on content creators, has raised $4 million in a funding round led by OKX Blockdream Ventures, CoinJournal learned from a press release. 

Other notable Web3 investors who took part in the round were 6th Man Ventures (founded by TheBlock co-founder Mike Dudas), Fundamental Labs, C² Ventures, Spark Digital Capital, GravityX, Rainmaker Games, Good Games Guild, Shima Capital, Mintable, DWeb3, and more.

An immersive metaverse

Bullieverse is an immersive, open metaverse for the community of creators and players. Gamers enjoy the fair and transparent monetization underlying the play and earn economy and an overall extraordinary experience.

Ever-expanding product offerings

Bullieverse features an ever-growing range of product offerings. The first major game on the metaverse is The Bear Hunt, which will be available to the public in Q1 2022. At the moment, you can sign up for the game, kill bears, and receive unique Bear NFTs as a reward.

Srini Anala, CEO and cofounder of Bullieverse, commented:

Closing this funding round is a key milestone in Bullieverse journey. We now have all the momentum we need to achieve our vision of being ‘The Metaverse’ platform. We will double down on our focus of our themes ‘Play, Earn, Own and Experience’ by executing our product and growth roadmaps. There are very few Web 3.0 projects that have a live product even before token launch – and we are one of them. We are also the first 3D metaverse play on Unreal Engine with a live game. The next 12 to 18 months of execution is critical and we look forward to that.

Mike Dudas and Serge Kassardjian of 6th Man Ventures added:

As investors in the Web 3.0 space, we focus on product and the team. Bullieverse clearly has a top tier metaverse-gaming product, and is led by a very experienced and balanced team. Both 6th Man Ventures and Bullieverse believe in the true potential of Play-and-Earn gaming, its ability to expand and reign in the gaming industry. We look forward to having a great journey together!

The post Bullieverse raises $4M to create fair and transparent metaverse appeared first on Coin Journal.

While all the leading cryptocurrencies are in red, Shiba Inu is in the green and has registered a 2.17% rise.

Although the SHIB token is currently struggling below $0.000031, it is owned by more than 1.17 million people.

At the time of writing, it had hit a daily high of $0.00003232 and a daily low of $0.00003015.

SHIB listing on Foxbit

One of the factors attributed to today’s SHIB price surge is its listing on Foxbit, a top Brazilian crypto exchange.

On February 10th, Foxbit had stated that it will list Shiba Inu but it waited until Thursday (today) for SHIB trading to go live. It announced that Shiba Inu and four other crypto assets, Gala (GALA), LooksRare (LOOKS), Fantom (FTM), and Illuvium (ILV), are now available for trade.

A #ShibaInu veio! 🐕 E junto com ela +4 novas opções de ativos para diversificar o seu portfólio! A gente faz tudo mesmo, né?

SHIB, GALA, FTM, LOOKS e ILV já estão disponíveis para negociação em nossa plataforma. 🧡 pic.twitter.com/hS0vRfjD4J

— Foxbit (@foxbit) February 16, 2022

According to the data from CoinMarketCap, Shiba Inu’s price did not register a very large price movement after the listing as would be expected after such a major listing. However, there was a slight surge of 4.59% in the trading volume. The increase in data volume indicates a buyer’s desire to purchase.

Foxbit Exchange

Foxbit is one of Brazil’s most prominent crypto exchange firms and it was founded in 2014. It has over 950,000 registered customers and it is built on three pillars that are: security, transparency, and agility.

One of Foxbit’s reputations in Brazil is that registered customers in Brazil can trade Bitcoin (BTC) with a 0% deposit fee against the Brazilian Real.

The post Shiba Inu rallies after Foxbit listing appeared first on Coin Journal.

Mirror Protocol is a synthetic assets protocol built by Terraform Labs on the Terra blockchain. Its native token MIR has added almost a fifth to its value today. This article explains what Mirror Protocol is, whether it’s worth buying, and where to buy Mirror Protocol.

Top places to buy Mirror Protocol now

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

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

What is Mirror Protocol?

Mirror Protocol is a decentralized ecosystem, where token holders govern the on-chain treasury and code changes. Mirrored assets are blockchain tokens that behave like „mirror“ versions of real-world assets by reflecting the exchange prices on-chain.

They give traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency.

Unlike traditional tokens which serve to represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.

Mirrored assets provide the advantages of fractional orders, global access, and order execution in almost real time. They allow global accessibility without entry barriers.

To execute a fractional order in traditional finance, you bundle several to execute a unitary transaction. The process of gathering all the orders into one requires additional waiting time.

With Mirror, orders volume is simply represented as a number on the blockchain, so there is no need for the intermediary bundling process.

Should I buy Mirror Protocol today?

Take the time to read at least several price predictions. MIR is a volatile investment as its price can swing in an unpredictable direction.  

Mirror Protocol price prediction

Gov Capital’s one-year MIR forecast is $4.63, up from $1.54 at the moment. Price Prediction is less bullish, predicting an increase of the price of Mirror Protocol to $1.83 this year. In 2023, they predict one MIR will trade for at least $2.67.

The Mirror Protocol price can reach a maximum of $3.24 that year. In 2024, it will be worth at least $3.68 according to the analyst. They expect the price of 1 MIR to reach at least $5.36 in 2025.   

Mirror Protocol on social media

Mirror Protocol 1-day AltRank™ is down -91.6% to 21 with price up 12.23% to $1.46 https://t.co/zoLhqeHIHM$mir #mirrorprotocol #LunarCrush

— unimpr3ss3d (@DochartaighLeon) February 17, 2022

The post You can now buy Mirror Protocol, which gained 18% in 24 hours: here’s where appeared first on Coin Journal.