Schlagwort: crypto business

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Koinos announces $500K seed round led by Blockchain Founders Fund

  • Koinos is a free-to-use blockchain developed by a group that also helped create the Steem blockchain.
  • The Koinos Group said the Blockchain Founders Fund led the seed round, with blockchain gaming platform Splinterlands participating.
  • Koinos will use the funds to build Koinos Pro, a software product set to help developers build scalable decentralised applications.

In the latest cryptocurrency news, Koinos Group, the developer of the free-to-use blockchain Koinos, has announced a $500,000 seed round.

Blockchain Founders Fund leads Koinos seed round

According to a press release CoinJournal obtained on Thursday, Singapore-based early stage industry-focused venture fund the Blockchain Founders Fund led the seed round. The round also saw the participation of blockchain gaming firm Splinterlands.

“Blockchain Founders Fund is demonstrating leadership in the space as a whole by committing funds to a company whose entire business model is based on supporting a truly decentralised platform,as opposed to a platform that is decentralised in name alone,”said  Koinos Group CEO Andrew Levine.

The Koinos Group will use the funds to develop Koinos Pro, a subscription product that allows developers to release highly scalable decentralised applications (dApps). In a tweet on Thursday, the platform said Koinos Pro is a software that will help completely remove entry barriers to the dApps ecosystem.

Already, the Koinos blockchain allows developers to build and launch free-to-use dApps in any programming language, which means users can access high-performance apps as easily as is currently within the Web2 ecosystem.

Founded in 2020, the Koinos Group is a project overseen by several blockchain veterans – including a core developer group of the Steem blockchain.

The funding round comes just over two months after the Koinos mainnet went live, notably without involving an initial coin offering (ICO), pre-mine or airdrop to insiders and such. Koinos’ “Mana” system enables people without the native KOIN token to still access the blockchain.

The post Koinos announces $500K seed round led by Blockchain Founders Fund appeared first on CoinJournal.

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Ethereum price retreats as the put/call ratio edges upwards

  • Ethereum put and call ratio on Deribit has risen this week.

  • ETH bullish liquidations have also jumped in the past 2 days.

The spectacular crypto comeback has stalled following a series of weak corporate earnings from the United Stats. Ethereum pulled back to $1,500 on Thursday as data showed that the put/call ratio was heading higher. It has fallen by over 5.90% from the highest point this year.

Put and call ratio slips

The options market is an important one across all asset classes, including cryptocurrencies, stocks, and commodities. It involves placing put-and-call trades on an asset. A call gives the trader the right to buy an asset while a put gives them the right to sell.

The put to call ratio is an essential tool that traders and investors use to predict whether an asset will rise or not. That is why it is an important part of the fear and greed index. 

Data compiled by The Block shows that Ethereum’s put/call ratio has edged upward slightly in the past few days. It has risen from 0.24 on January 4 to a high of 0.3. Historically, a lower ratio is usually preferred since it means that there are more buyers in the options market. Still, it should be noted that The Block’s data comes only from Deribit and does not include other exchanges.

Meanwhile, another data by CoinGlass shows that the number of short liquidations in key exchanges rose to the highest point in months on January 15. Liquidations have continued but at a slower pace since then. However, at the same time, long liquidations have been rising. On Wednesday, they rose to the highest level since December 16 of last year.

The main reasons for these liquidations is the weak financial results by companies like Goldman Sachs and JP Morgan. Some of these firms have warned about a recession and announced significant job cuts. Microsoft is laying off over 10,000 people. 

Ethereum price forecast

ETH/USD chart by TradingView

Ethereum has stumbled as put and call ratio and long liquidations rise. This stumbling happened as the coin reached a high of $1,612, the highest point since November. It has moved slightly below the descending trendline shown in purple. 

At the same time, it has struggled moving above the key point at $1,667, the highest point on November 4. Therefore, I still believe that the outlook for Ethereum is still bullish, with the next key point to watch being at $2,000 as I wrote in this article.

How to buy Ethereum

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy ETH with OKX today

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Enjin Coin price pumps as ENJ short liqudations soars

  • Enjin Coin has made a strong comeback in 2023.

  • This rally happened as short liquidations jumped.

  • Metaverse tokens like Decentraland and Sandbox have also surged.

Enjin Coin (ENJ) has been in an unstoppable bull run in 2023. It has jumped in all but two days this year, making it one of the top-performing coins. According to CoinDesk, ENJ was trading at $0.47, which was the highest it has been since November 10 of this year. Here are several reasons why Enjin is soaring.

Short liquidations rise

The first main reason why Enjin is soaring is that short liquidations have jumped to the highest level in months. Data provided by CoinGlass shows that over $539k worth of short sales were liquidated on Thursday. This was an increase from the $257k short sales that were liquidated on Wednesday. 

As shown below, these liquidations have been moving in an upward trajectory starting from the first week of the year. This trend is mostly because of the ongoing macro issues as inflation started to drop. Data published in the past two weeks has shown that inflation remains under pressure. On Thursday, numbers revealed that the producer price index (PPI) dropped in December. 

Metaverse tokens soar

The other main reason why Enjin coin price has risen is simply because of the performance of NFT and metaverse tokens. As we wrote here, we have seen most well-known metaverse tokens like Decentraland’s MANA and Sandbox’s SAND rise to their highest levels in months. Historically, cryptocurrencies in similar industries tend to move in sync with each other.

Meanwhile, data compiled by CryptoSlam shows that the volume of NFT sales has started to creep back up in the past few weeks. This is notable since Enjin exists in the NFT industry. Its Efinity product makes it possible for people to mint and sell NFTs using Polkadot’s technology. 

What next for Enjin Coin

ENJ/USD chart by TradingView

Enjin Coin was one of the worst-performing crypto coins in 2022 as it transitioned into a fallen angel. It finally woke up in 2023, pushing it to the highest point since November. The coin has surged above all key resistance levels and moved above the 25-day moving average. Further, the closely-watched supertrend indicator is still bullish.

However, as shown in the chart above, some longs have started to liquidate their positions as well. This is a sign that the coin could start pulling back in the next few days. If this happens, the next point to focus on will be at $0.3822.

How to buy Enjin Coin

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy ENJ with Bitstamp today

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Enjin Coin today’s top gainer: here’s why it is rising

  • At press time, Enjin Coin (ENJ) had gained 15.70% in the past 24 hours.
  • ENJ is currently trading at about $0.4265.
  • Today’s price surge makes ENJ today’s top gainer in the crypto market.

Enjin Coin (ENJ) has made headlines today after it shot up by about 16% to become the best crypto gainer of the day according to data from CoinMarketCap. The second largest gainer today is KAVA which has gained 10.14% while the third is Hedera (HBAR) which has gained 9.50% adding to its 41% rise in the past two weeks.

While it was trading at $0.4265 at the time of writing, Enjin Coin price high a daily high of $0.4524 earlier today.

Why is Enjin Coin price rising today?

Enjin Coin is not known for colossal price movements, making today’s price surge a surprise for many crypto traders and investors. Today’s hike actually pushed the token for a 51% growth over the past seven days.

But why is the price of ENJ surging? Here is a deep dive into the behind-the-scenes pushing the token’s price up.

Enjin network, the parent blockchain of Enjin Coin cryptocurrency, allows game developers to tokenize in-game items on the Ethereum blockchain. While the protocol’s influence among developers has grown since its inception, the recent development update to the platform appears to have energized ENJ buyers as they anticipate the Enjin ecosystem to witness extensive growth in the coming months.

The recent development update saw the protocol launch Enjin wallet, a new non-fungible (NFT) token marketplace called NFT.io, and three core Enjin tooling products. These updates make the platform enticing and easy for game developers thus positioning Enjin as a hub for the growing world of Web3.0 gaming.

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Is it safe to buy ENJ coin after gaining 16% today?

Enjin was launched in 2009 in Singapore and quickly became the largest gaming community creation platform. Its popularity led to the birth of ENJ, a cryptocurrency and smart contract meant to create trust and security in the community with minimal transaction fees. 

Enjin lets users create NFTs without coding. Moreover, users can get paid when other users trade digital assets via the Enjin marketplace. 

ENJ has a market capitalization of over $450 million and a circulating supply of 1 billion. The start of 2023 saw the ENJ coin gaining close to 100% against the US dollar, with about 16% today only. 

So is it safe to buy ENJ here? 

ENJUSD chart by TradingView

Did the crypto winter end in 2022?

The cryptocurrency market suffered from a string of bad news in 2022. First, it was Bitcoin that led the way lower, as the leading cryptocurrency plunged from over $60k to below $20k. 

Bitcoin lovers have argued for quick cryptocurrency adoption by institutional investors for many years. Finally, the adoption came, but with it, Bitcoin became correlated with the regular markets. 

In other words, Bitcoin was hit hard in 2022 by a strong US dollar. Also, it mainly moved on fundamental news affecting the overall market, such as the US inflation or changes in the Federal Reserve policy. 

As such, speculators in the crypto industry quickly turned their attention to other coins. But Bitcoin’s importance does matter for the overall industry. 

Therefore, when Bitcoin jumped over $21k at the start of 2022, it triggered a similar move on most of the crypto market. 

ENJ is one that followed suit. It gained almost 100% in 2023 after forming a falling wedge pattern at the end of last year. 

So is it fair to assume that the crypto winter of 2022 is over? 

At this point, ENJ tests resistance at an area that provided support in the past. If Bitcoin’s rally is not over, then one should not be surprised to see ENJ pushing above resistance.  

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