Schlagwort: crypto business

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GALA token soars 68% as Hollywood stars team up with Gala Games

  • GALA token rose more than 68% to hit highs of $0.04022884.
  • Gains for GALA, the utility token of Gala Games ecosystem, came after the platform announced partnerships with Hollywood stars Dwayne Johnson aka The Rock and Mark Wahlberg.
  • GALA will be the gas token users will need to collect digital tokens.

Gala (GALA), the blockchain gaming ecosystem, is seeing massive buying momentum amid broader interest in cryptocurrencies on Monday.

The GALA token, which is the utility token on the platform, has surged a staggering 68% in the past 24 hours. As of writing, GALA was trading around $0.04022884. GALA has seen $1,241,426,652 traded in the past 24 hours too, the massive gains pushing the cryptocurrency up market ranking – GALA currently has a market cap of $288 million.

As well as major gains against the US dollar, the GALA price is up 58.4% against Bitcoin (BTC) to 0.00000222 BTC and 54.3% against Ether (ETH) to 0.00002904 (as at 9:00 am ET on 9 January).

Gala gains amid major Hollywood announcement

Most cryptocurrencies, certainly all of those in top 10 by market cap are trading in the green at the time of writing. But two of the highest gainers are outside the top 50 – two great projects in Gala and Ziliqa.

While Ziliqa has gained over 50% amid new blockchain developments, GALA is seeing significant buying pressure after Gala Games announced its set to work with Hollywood stars Dwayne Johnson aka ‘The Rock’ and Mark Wahlberg.

Apart from revealing film projects with the Hollywood A-listers, Gala Games is also moving into mobile gaming. 

Notably, GALA is the gas token for both Gala Music and Gala Film. It means millions of fans looking to collect digital items will need gas – which in this case will be GALA.

The post GALA token soars 68% as Hollywood stars team up with Gala Games appeared first on CoinJournal.

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Ethereum Classic confirms a trend shakeup. Here is the next price target

  • Ethereum Classic rose by 5% on Monday to extend the gains made in the week

  • The network has witnessed a rise in transactions volumes

  • ETC’s price target lies at $26, but correction could occur

The price of Ethereum Classic (ETC/USD) is looking up again after a disastrous 2022. Trading at $21.14, the cryptocurrency has confirmed a trend reversal after a break below a descending trendline. This does not outrightly tell whether we are in a bullish market since ETC has occasionally been a volatile token. However, buyers would be delighted that the upside could continue meanwhile, as the latest price action shows.

The latest Coinjournal analysis showed that miner activity gained momentum on Ethereum Classic towards the start of 2023. The last week has also seen transactions on the network embark on an upside. That coincided with the price surge that continues to be witnessed. On Monday, the price rose by more than 5%, as most cryptocurrencies looked up. Bitcoin and Ethereum, the two leading digital assets, had added 1.93% and 4.58%, respectively.

Ethereum Classic price outlook as the price recovers

ETC/USD Chart by TradingView

From the daily chart outlook, Ethereum Classic has witnessed intensified buying at the $19 bottom. The buying is evidenced by the uptick in RSI from the oversold region to an almost overbought level. The cryptocurrency also recovered above the $1.5 resistance, which could become the reference support. A breakout at the descending trendline also reinforces a bullish bias.

ETC potential price action

We predict that Ethereum Classic will maintain the upside to the next potential resistance at $26. However, applying the Bollinger Bands to the daily chart, we see the cryptocurrency trades at the upper limit. Looking at the prior price action, Ethereum Classic has always trended lower each time it hit the upper limit of the Bollinger Bands. Thus, a correction could occur before the price proceeds to the target.

Another indication of a possible correction is the RSI. With a reading of 68, we are entering overbought levels for ETC. Investors should be cautious before buying ETC based on those technical indicators. Buying on a retracement is recommended.

Where to buy ETC

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.

Buy ETC with eToro today

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 ETC with OKX today

The post Ethereum Classic confirms a trend shakeup. Here is the next price target appeared first on CoinJournal.

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Pi Coin price is soaring in Huobi: What could go wrong?

  • Pi Network is one of the biggest blockchains in the world.

  • Huobi listed Pi/USDT, a coin that has been disowned by Pi Network.

Huobi, the global cryptocurrency exchange, made the controversial decision to list Pi Coin last week. Since then, PI/USDT price has surged from a low of $0.0096 to a high of $89. This rebound makes it one of the top-performing cryptocurrencies in the world. But there is a big problem about Huobi’s Pi Network listing.

What is Pi Coin?

Pi Network is one of the biggest players in the blockchain in the world. It is a blockchain project that was started by two Stanford University alumni in 2018. Since its founding, it has thrived as the number of users have grown rapidly.

For example, Pi Network’s Android app has over 50 million downloads while its Twitter account has over 2 million followers. Pi Browser has over 10 million users around the world. The network has over 35 million users globally.

The developers aim to create a cryptocurrency that will be mainstream as it solves the challenges that existing cryptocurrencies have. For example, instead of relying on complex mining hardware, anyone with a smartphone can mine their Pi coins using their smartphones.

Pi Network also aims to create a full ecosystem that will include games and other platforms that will be powered using the Pi coin. However, for now, it is impossible to transform Pi Coins into cash since the coin has not been listed in exchanges.

Pi Coin disowns Huobi’s Pi/USDT

Huobi made the controversial decision to list the Pi/USDT pair, a financial derivative that aims to track the performance of Pi. In a press release, Pi said that it had disapproved the unauthorized decision to list its token without authorization. The company added that it had no affiliation or relationship with Huobi and other related exchanges and that Pi/USDT was not the real coin. The statement added that:

“Throughout this interim Enclosed Mainnet period, the Pi Mainnet is live, albeit with a firewall that prevents any unwanted external connectivity. The firewall ensures there is no connectivity between Pi and other blockchains or crypto exchanges without the explicit authorization of the network.”

So, is Huobi’s Pi Coin a good buy?

PIUSDT chart by TradingView

We believe that the Pi Coin listed by Huobi is not a genuine token to invest in or even trade. As we wrote in this article on Friday, we believe that Huobi is a significantly risky crypto exchange to invest in. If the developers can list a fake coin, what can’t they do?

The post Pi Coin price is soaring in Huobi: What could go wrong? appeared first on CoinJournal.

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Wyre limits withdrawals to 90% of customer funds

  • Wyre will allow its customers to withdraw only 90% of their funds.

  • The company said the move is to allow it to navigate the current market conditions.

  • Wyre’s CEO has become the company’s executive chairman.

Wyre sets withdrawal limits for its customers

Cryptocurrency payment platform Wyre announced over the weekend that it had set a new withdrawal limit for its customers. 

While announcing this latest cryptocurrency news on Twitter, the company said the move was to ensure it could navigate the current market conditions.

Wyre said its customers could only withdraw 90% of their funds. The company wrote;

“While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits”

Wyre added that the move was in the best interest of its community. It added that it is also exploring strategic options that would enable Wyre to navigate the current market environment and deliver on its mission to simplify and revolutionise the global payments ecosystem.

This latest development comes just a few days after the company laid off 75 employees. Similar to other leading crypto companies, Wyre is navigating the current crypto winter by cutting costs in various aspects.

Wyre makes management changes

In addition to the withdrawal limits placed on its customers, Wyre announced a crucial management change within the company.

Wyre announced that CEO Ioannis Gianna has transitioned into a new role as executive chairman. This is part of the major changes to the company’s management structure. 

Stephen Cheng will serve as the interim Chief Executive Officer after serving as the Chief Risk Officer, and Chief Compliance Officer in recent years.

The crypto winter saw Bitcoin lose more than 60% of its value over the last few months. At the moment, the price of Bitcoin stands at $17,200 per coin.

The post Wyre limits withdrawals to 90% of customer funds appeared first on CoinJournal.

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Charles Hoskinson’s new hospital will accept Cardano for payments: ADA soars by 15%

  • Cardano will be accepted at Charles Hoskinson’s new hospital.

  • ADA is the best performer amongst the top 10 cryptocurrencies by market cap.

  • The cryptocurrency market is off to a flying start this week.

ADA outperforms the other major cryptocurrencies

Cardano founder Charles Hoskinson announced the launch of his new hospital called “Hoskinson Health & Wellness Clinic.” The clinic will accept payments for its services in ADA, the native token of the Cardano ecosystem.

This latest cryptocurrency news saw ADA soar by more than 15% in the last 24 hours, making it the best performer amongst the top 10 cryptocurrencies by market cap today.

At press time, the price of Cardano stands at $0.3263 and could rally higher soon. The broader cryptocurrency market is off to an excellent start this week. The total cryptocurrency market cap stands at $849 billion, up by nearly 3% in the last 24 hours.

Bitcoin, the world’s leading cryptocurrency by market cap, is up by roughly 2% today and is finally trading above the $17k resistance level. 

Key levels to watch

The ADA/USD 4-hour chart is bullish, as Cardano has been performing well over the last few days. The technical indicators show that ADA is currently outperforming the broader market.

ADA/USD Chart By TradingView

 

The MACD line is deep within the positive zone, indicating that the bulls are currently in charge. The 14-day RSI of 84 shows that ADA is currently close to the overbought region.

If the rally continues, ADA could surge past the first major resistance level at $0.3443 before the end of the day. The second major resistance level above $0.370 could be hard to surpass in the near term.

The bears might regain slight control of the market if the bulls run out of steam. If that happens, ADA could drop below the first major support level at $0.2921 over the coming hours.

Where to buy Cardano now

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.

Buy ADA with eToro today

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 ADA with OKX today

The post Charles Hoskinson’s new hospital will accept Cardano for payments: ADA soars by 15% appeared first on CoinJournal.