Schlagwort: crypto business

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Here is why Terra Classic is up by more than 6% in the last 24 hours

  • LUNC is up by more than 6% in the last 24 hours, outperforming the broader crypto market.

  • The rally comes after the team revealed that the Terra Classic Shuttle bridge would shut down next month.

  • The total crypto market cap could drop below the $800 billion level soon.

The Terra Classic Shuttle bridge will shut down in January

The Terra Classic team announced via Twitter on Thursday that its Terra Classic Shuttle bridge will sunset on Jan. 31st, 2023, 0000 hrs (UTC). The team urged its community members to bridge assets back to Terra before then to ensure they don’t lose their assets.

This latest cryptocurrency news has resulted in LUNC outperforming the broader cryptocurrency market. At press time, LUNC is trading at $0.0001358, up by more than 6% in the last 24 hours.

The broader crypto market has been trading in the red zone for the past two days. The total crypto market cap is now around $810 billion and could drop below $800 billion if the bearish trend continues.

The price of Bitcoin stands at $16,883, down by less than 1% in the last 24 hours. 

Key levels to watch

The LUNC/USDT 4-hour chart is bearish despite Terra Classic performing well over the last few hours. The technical indicators, however, show that LUNC’s sentiments are improving.

LUNC/USDT Chart By TradingView

 

The MACD line remains in the negative zone, indicating that the bears are still in control of the LUNC market. The 14-day RSI of 48 shows that LUNC is no longer in the oversold region.

If the bullish momentum increases, LUNC could move past the first resistance level at $0.0002074 before the end of the day. However, LUNC could find it hard to surpass the second major resistance level at $0.0002343 in the near term. 

Where to buy Terra Classic now

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC 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 1Inch DEX

Head to 1Inch, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LUNC

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

The post Here is why Terra Classic is up by more than 6% in the last 24 hours appeared first on CoinJournal.

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UNI looks to rally following Uniswap’s Moonpay partnership

  • UNI is up by less than 1% today as the broader crypto market continues to underperform.

  • Uniswap announced a strategic partnership with Moonpay earlier this week.

  • The total crypto market cap could drop below $800 billion as the market continues to perform poorly.

Uniswap allows users to purchase crypto on the Uniswap Web App

The Uniswap team announced earlier this week that users can now purchase crypto on the Uniswap Web App using a credit/debit card or bank transfer. This is thanks to its partnership with Moonpay.

Users can connect their wallet to the Uniswap Web App and be able to buy crypto using fiat. Despite this latest cryptocurrency news, UNI is up by less than 1% in the last 24 hours.

At press time, the price of Uniswap stands at $5.33 per coin. The positive performance comes as the broader cryptocurrency market continues to underperform. 

The total crypto market cap currently stands at $810 billion, down by less than 1% in the last 24 hours. Bitcoin continues to struggle below the $17k resistance level and is also trading in the red zone today.

Key levels to watch

The UNI/USD chart is bearish despite Uniswap performing positively over the last few hours. The technical indicators show that UNI’s performance could improve in the near term.

UNI/USD Chart By TradingView

 

The MACD line remains below the neutral zone, and with UNI’s ongoing performance, it could find it tough to move into the positive region.

The 14-day relative strength of 50 shows that UNI is no longer in the oversold region. However, it would need to perform even better if it intends to enter the overbought area.

If the positive momentum increases, UNI could surge past the first major resistance level at $5.996 before the end of the day. However, UNI would need the support of the broader cryptocurrency market to surge past the $6.6 resistance level in the near term.

Where to buy Uniswap 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 UNI 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 UNI with OKX today

The post UNI looks to rally following Uniswap’s Moonpay partnership appeared first on CoinJournal.

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Best DeFi tokens to buy in 2023

  • Decentralized Finance saw significant outflows in 2023.

  • DeFi tokens also dropped sharply during the year.

  • The collapse of centralized companies could make DeFi more attractive.

Decentralized Finance (DeFi) came under intense pressure in 2022 as the crypto industry recoiled. Some of the biggest cryptocurrency news of the year was the collapse of FTX and Terra. As a result, the total value locked (TVL) crashed from over $250 billion to just $60 billion. In this article, we will look at some of the best DeFi tokens to buy in 2023.

GMX | GMX

GMX is a leading decentralized exchange (DEX)  in the Arbitrum and Avalanche. It is a DEX that makes it possible for users to trade perpetual contracts and buy spot tokens. GMX has handled billions of cryptocurrencies in the past few months. Its total value locked (TVL) has surged to more than $802 million, making it the 17th biggest DeFi in the world.

GMX price has bounced back from its lowest level in 2022 as it took advantage of the collapse of FTX. There is a likelihood that the token will continue rising in 2023 as it becomes more mainstream. Analysts expect that the collapse of centralized platforms like Voyager Digital, Celsius, and FTX will lead to more strength of DEX platforms like GMX.

How to buy GMX

AAVE | AAVE

AAVE is one of the biggest DeFi protocol in the world with a TVL of over $5.8 billion. It exists in several blockchains, including Ethereum, Polygon, Optimism, and Arbitrum among others. Aave is a lending platform that makes it possible for users to earn interest, borrow assets, and build applications. 

Aave’s Community Treasury holds over $113 million worth of assets, including AAVE, USDC, Dai, and USDT. These funds come from the reserve factor, instant liquidity fees, and portal fees among others.

Aave is a good investment because of its strong market share in the DeFi industry and its room for growth in 2023. Also, it has emerged from this year’s sell-off almost unscathed.

How to buy Aave

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 AAVE 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 AAVE with OKX today

Uniswap | UNI

Uniswap is the oldest decentralized exchange (DEX) in the world. It is a major platform that raised over $160 million from investors at a valuation of over $1.6 billion. Uniswap makes it possible for people to buy, sell, and trade digital coins. It recently introduced the ability to buy Non-Fungible Tokens (NFT).

Therefore, as a leading DEX, Uniswap will likely continue doing well. In my view, I suspect that well-capitalized DEX exchanges like Uniswap will continue thriving in the long term. Further, Uniswap has not experienced substantial outflows in the past few months.

How to buy Uniswap

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 UNI 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 UNI with OKX today

The post Best DeFi tokens to buy in 2023 appeared first on CoinJournal.

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MyConstant ordered to cease crypto-lending services in Califonia

  • California Department of Financial Protection and Innovation (DFPI) has ordered MyConstant to cease offering some products.
  • The DFPI had warned in July that it would crack down on crypto interest account providers.
  • DFPI argues that MyConstant offered and sold unqualified, non-exempt securities.

In a press release on December 21, the California Department of Financial Protection and Innovation (DFPI) ordered crypto lending platform MyConstant to “desist and refrain” from offering a  number of its crypto-related services in California. This comes after the department warned in July that it would be cracking down on crypto interest account providers in the state.

The DFPI first announced it was investigating MyConstant on December 5 via a press release that stated that MyConstant was not licensed to operate in California.

MyConstant was specifically ordered to stop offering its peer-to-peer loan brokerage service and interest-bearing crypto asset accounts. The DFPI says that the two products violate the California Consumer Financial Protection Law and California Securities Law.

According to the DFPI, MyConstant’s offering and selling of its peer-to-peer lending service known as “Loan Matching Service” contravenes California’s financial codes. The department said that the crypto lender engaged in “unlicensed loan brokering,” since the platform allowed lenders to lend without proper licenses.

DFPI’s problem with MyConstant interest-bearing products

Besides the P2P lending, the DFPI also has problems with MyConstant’s fixed interest-bearing crypto asset product. The product allows customers to deposit crypto assets and fiat with the promise of receiving a fixed annual percentage interest return.

According to the DFPI, the product is an example of where MyConstant offered and sold unqualified, non-exempt securities.

MyConstant has been facing hard economic times

The action by DFPI comes at a time when the crypto lender seems to be going through tough times. On November 17, it announced that it was unable to continue with business as usual due to the rapidly deteriorating market conditions that prompted heavy withdrawals.

The platform then limited its business activities including pausing withdrawals and announcing that “No deposit or investment request will be processed at this time.”

Since then MyConstant has been updating its users on its website on future plans including recently (December 15) updated plans that include a financial overview, estimated recovery, and liquidation schedule.

The platform has however continued to offer crypto-backed loans, ensuring borrower compliance, processing loan repayments, returning borrowers’ collateral once they repay their loans in full, and liquidation of borrowers’ collateral if they default.

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XRP holders’ with 1M to 10M coins accumulate to record highs

  • XRP whales and sharks bought more coins in December to bring total addresses and percentage of supply to new highs.
  • Large holders appear strongly bullish on the coin’s price, despite Ripple Labs’ ongoing battle with regulators.
  • There are 1,617 wallet addresses with 1 million to 10 million XRP, with total holdings for these addresses about 7.23% of supply.

XRP has seen some massive accumulation by large holders in 2022, despite the bear market and all the baggage that has come with Ripple Labs’ court tussle with the US Securities and Exchange Commission (SEC).

In the market, the XRP price has remained in a downtrend since a sharp decline in May. The coin currently trades around $0.3437.

XRP whales and sharks push holdings to new highs

According to on-chain statistics shared by analytics firm Santiment, XRP addresses with 1 million to 10 million coins have added to their holdings as 2022 draws to a close. Per the platform, these groups of XRP holders – the category of sharks and whales – have recently seen their total number and percentage of supply surge to new all-time highs.

On-chain data shows the whale and shark cohorts in the XRP ecosystem that control wallets with 1 million to 10 million XRP increased in December to 1,617.

The rapid accumulation seen across these two tiers have come as the past few weeks saw crypto prices plummet amid the FTX contagion.

But the downturn appears to have offered large XRP accounts the opportunity to buy low, with the above category of addresses increasing their percentage share of circulating supply. As per the current stats, whales and sharks hold 7.23% of 50.34 billion XRP.

Both this and the number of addresses highlighted above are trending at a new all-time high.

The post XRP holders’ with 1M to 10M coins accumulate to record highs appeared first on CoinJournal.