Schlagwort: blockchain markets

• The WGMI exchange-traded fund will invest in companies with 80% of revenue from BTC mining.

• The fund includes 5 Bitcoin mining companies with 90% renewable energy use.

The Valkyrie Bitcoin Miners ETF (WGMI) has made its debut on the Nasdaq stock market, presenting investors with yet another opportunity to gain exposure to crypto via investments in the stocks of companies in the Bitcoin (BTC-USD) mining industry.

The actively managed exchange-traded fund (ETF) trades under the ticker symbol WGMI.

While the fund does not involve direct investment in cryptocurrencies, its holdings are in crypto mining companies with at least 50% of profits derived from Bitcoin mining.

The investment is also put in crypto-focused companies whose operations are in the production of mining hardware and software, or those that specialize in offering crypto-related services to Bitcoin miners.

Invest in regulated Bitcoin mining companies

WGMI comes with a total expense ratio of 0.75%, with initial investments in top BTC mining firms and providers.

These include Argo Blockchain,  Bitfarms,  CleanSpark, Marathon Digital Mining, Stronghold Mining, Riot Blockchain and Hive Blockchain. Other firms in the investment are Advanced Micro Devices (AMD) and Nvidia Corp and Samsung Electronics.

Commenting on the companies included in the ETF weighting, Valkyrie CEO Leah Wald noted:

„These companies are fully regulated the same as any other publicly traded company, and offer investors yet another avenue to gain indirect exposure to the digital asset space.„

WGMI portfolio accounts for companies with 77% renewable energy use

Bitcoin mining is a multi-billion industry and its growth has seen several top companies around the world look to tap into the revenue stream, bringing into the ecosystem investors who find opportunities in sectors such as oil and gold.

Over the years, Bitcoin miners have moved to use green energy sources like wind, solar, and hydroelectric, cutting on fossil fuels and increasingly relegating the debate on Bitcoin’s massive energy consumption to the background.

Valkyrie said the WGMI portfolio utilises 77% renewable energy, adding to the positive outlook likely to pull in environmentally-conscious investors. The top five companies in the portfolio have a 90% renewable usage, Valkyrie noted in a factsheet.

Where can you buy the WGMI ETF?

According to Valkyrie, the ETF, as with others offered by the company, are available via several providers. You can access the fund at Charles Schwab, E-Trade, Fidelity, Interactive Brokers, Robinhood and TD Ameritrade among others.

Image source: Valkyrie

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Ripple has shown impressive performance and it is among the top ten gainers over the past week. It has gone ahead to even flip giants like Solana and Cardano as it makes strides toward the top five cryptocurrencies in terms of market cap ranking.

Ripple (XRP) is currently trading at $0.8519 after registering a 9.05% today. It has a trading volume of $5.5 billion in the last 24 hours.

Reasons behind Ripple (XRP) price surge

Before delving into the reasons as to why the Ripple price is surging, it is important to first explain what Ripple is for those who may not be familiar with it.

In a nutshell, Ripple (XRP), commonly just referred to as XRP, is the native token of the RippleNet digital blockchain-based payment platform that was developed by a company called Ripple.

Now let’s can get into why the price of XRP is surging.

One of the reasons for the current uptrend in Ripple price is the overall performance of other cryptocurrencies as the crypto market tries to recover from the recent plunge. The overall crypto market cap has risen by more than $2 trillion over the past week with Ethereum and Bitcoin soaring above $3,100 and $44,000 respectively.

As a result of the rising crypto prices, investors have become more comfortable with cryptos.

Ripple vs. the US SEC court case

The other reason behind the current Ripple price surge is the ongoing Ripple vs. the US SEC court case that was filed in December 2020.

Recently, Judge Analisa Torres ordered the unsealing of the three documents in the case after layer John E Deaton said it would be difficult to correlate ripple’s price with Ripple’s announcement and also that prosecutor has to prove that XRP was sold in the US.

John said:

“It will be near impossible to prove any real correlation between #XRP’s price and public announcements by @Ripple (ie partnerships). The SEC must also prove Garlinghouse and Larsen sold #XRP in the USA.”

Analysts believe that the case might be concluded by April 2022 and any positive outcome in favor of the Ripple is likely to result in a huge XRP price surge given that the market is already seeing some positive movements in readiness for the case outcome.

The post Ripple (XRP) price up 43% in seven days: here are the factors fuelling the current XRP uptrend appeared first on Coin Journal.

The live WOO Network price today is $0.77 with a 24-hour trading volume of almost $151.5 million. The token has gained 15.77% in the last 24 hours because Binance listed it today. Trading opened at 06:30 UTC. WOO withdrawals will open at 06:30 UTC on February 9.    

If you want to know more about Woo Network, if you should buy it now, and the top places to buy WOO today, you’ve come to the right place.     

Top places to buy WOO now

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

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

What is WOO?

WOO Network is a deep liquidity network connecting traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower or zero cost. The token is used in the network’s CeFi and DeFi products for staking and fee discounts.

The WOO ecosystem is comprised of WOO X, a zero-fee trading platform with fully customizable modules for workspace customization, and Wootrade, a gateway for institutional clients to upgrade their order books.

The network deploys WooFi Pools across select DeFi protocols and applications to provide users with enhanced on-chain liquidity and execution. It bridges off-chain tools such as hedging strategies, pricing oracles, and quantitative trading with on-chain liquidity to achieve this.

Should I buy WOO today?

Read at least several price predictions and explore the market before committing to an investment in WOO. Its price trajectory might change in another direction following the much-hyped listing.  

WOO price prediction

Wallet Investor considers WOO a moderately good investment. They predict it will trade for $1.07 in February 2027. This is up just over a third from the current price. If you invest $100 in WOO now, it may be up to $135 in 2027.    

WOO on social media

Not a single day worried about my $WOO baggs

$5 is programmed atleast pic.twitter.com/eVQl50MzXo

— THEWIZARD ( beware scammers ) (@CryptoWizardd) February 7, 2022

The post WOO is surging on news of a Binance listing: where to buy WOO before it’s too late appeared first on Coin Journal.

• The crypto market cap could surpass $9.6 trillion if BTC hits $200k, the report said.

• Meanwhile, the price of Ether (ETH) could climb as high as $12,000.

• Cardano, Avalanche, and Terra are also investments worth watching, FSInsight’s head of crypto strategy noted.

Bitcoin’s latest price action has seen it bounce strongly above multiple resistance levels, with intraday gains on Monday pushing the king crypto above $44,000.

Analysts are bullish about the cryptocurrency’s chances of breaking higher, pointing to potential continued correlation with stocks.  

Fundstrat’s FSInsight predicts that the price of Bitcoin could rally to $200,000 in 2022, citing increased inflows from the legacy markets into crypto.

In a report titled “Digital Assets in a Post-Cycle World”, FInsight’s Head of Digital Asset Strategy Sean Farrell noted that Bitcoin could see more choppiness in the first six months of 2022.

However, the research and financial investment providers see BTC rallying to $200,000.

Metrics likely to support the outlook include increased buying occasioned by Bitcoin’s recent dip. Negative real yields and the potential of the market seeing a return to risk-on appetite are also likely to play a role, the investment strategist added.

On Ethereum, FSInsight says its 30%+ rally over the past week or so has the cryptocurrency close to a key resistance area.  But the platform thinks ETH is undervalued and the switch to proof-of-stake could be one of the catalysts that trigger a big move to $12,000 this year.

Other than the top two, tokens native to layer 1 networks such as Avalanche (AVAX), Solana (SOL), Terra (LUNA), and Cardano (ADA) are likely to see a fresh upside in the second half of the year.

Non-fungible tokens (NFTs) and Web 3 applications are also on the platform’s radar, with Livepeer, Filecoin and The Graph among those investors might want to watch.

The post Bitcoin will rally to $200K in the second half of 2022, FSInsight says appeared first on Coin Journal.

Antoni Trenchev says the Fed is unlikely to be as aggressive as expected and “cheap money” will likely continue to flow into crypto

Nexo co-founder Antoni Trenchev thinks 2022 will be a choppy year for Bitcoin and the broader crypto market.

However, he also believes the availability of “easy money” will continue to work in favour of cryptocurrencies. And he sees the gains for crypto assets linked to this scenario, even as he pointed out the correlation between cryptocurrency markets and stock markets.

In an interview with CNBC on Monday, Trenchev said that increased investment into the crypto ecosystem is one of the reasons there’s greater lockstep trading with equity markets. But this, he added, is a signal to growing adoption and that can only be good for the sector.

Touching on the broader market outlook in relation to the US Federal Reserve’s incoming interest rate hikes, Trenchev said:

“You know I have been very skeptical as to the actions of the Federal Reserve and the proposed rate hikes [and] how that ultimately will unfold. My take is that cheap money is here to stay, and this is very good for assets such as crypto.”

The Nexo executive says that the Fed might not be as aggressive as it is expected, despite projections from Bank of America and other analysts on seven or more interest rate hikes in 2022.

According to him, inflation is expected to rise further as the consumer price index surges to 7.2%.

He told CNBC that the last time inflation raced this fast was in the 1980s, and what the Fed did then was to hike rates 20%. This year, he points to forecasts of 3% in funding rates as an indication that the US central bank won’t be that aggressive.

The Fed, he says, has its work cut out with an” $8 trillion balance sheet they are holding on their books.”

Bitcoin price soared in 2020 and 2021 as governments implanted monetary policies that poured trillions of dollars into the economy, with a lot of it ending in crypto investments. The outlook, according to Trenchev, remains a possibility in 2022.

Trenchev also commented on the metaverse and non-fungible tokens (NFTs), noting that the whole ecosystem has the potential to benefit cryptocurrencies.

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