Schlagwort: crypto business

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LUNC price forms a bullish pattern as USTC pumps

  • Terra Luna Classic price crawled back on Thursday.

  • The number of LUNC holders has been stable.

  • USTC price soared by over 20%.

Terra Luna Classic price crawled back on Thursday as investors reacted to the strong comeback of USTC. It rose to a high of $0.00017, which was slightly above this week’s low of $0.00016. LUNC’s price is about 71% below the highest level this year.

USTC price rebounds

Terra Luna Classic is a community-operated cryptocurrency that is the remnant of Terra’s collapse. It differs from Terra Luna, which was unveiled by Do Kwon as part of Terra 2.0. 

LUNC has been in the spotlight in the past few months as the number of holders has remained steady. Data shows that despite the bad reputation, the number of LUNC holders is at an all-time high. According to LUNC Burner, there are now 12,090 unique addresses in LUNC. This is significantly higher than last month’s low of 11,590.

These buyers are likely attracted to the token for its speculation purposes. These holders believe that the token will stage a major comeback if the broad cryptocurrency market rebounds. There are now over 880 billion bonded tokens, 

Meanwhile, the number of Terra Luna Classic that is being burned is rising. More than 34.2 billion LUNC tokens has been burned since May. As a result, the total supply has been reduced to 6.8 trillion tokens.

Terra Luna Classic price is crawling back as Terra Classic USD stablecoin is rebounding. According to Binance, USTC price has soared by more than 20% in the past 24 hours. It rose to a high of $0.024, which was the highest level since November 11.

USTC is a former stablecoin that was the nerve center of Terra’s ecosystem. Its de-pegging led to the collapse of Terra and its ecosystem, as we wrote here. At the time, USTC holders in DeFi protocols like Anchor Protocol saw their investments evaporate.

LUNC price prediction

LUNC chart by TradingView

The daily chart shows that Terra Luna Classic price has been in a steep sell-off in the past few months. Along the way, the coin has formed a falling wedge pattern that is shown in orange. In price action analysis, this pattern is usually a bullish sign, 

LUNC has moved below the 25-day and 50-day moving averages while the Average True Range (ATR) has dropped, which is a sign of low volatility. Therefore, Terra Luna Classic price will likely have a bullish comeback in December as speculation increases.

How to buy Luna Classic

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 LUNC price forms a bullish pattern as USTC pumps appeared first on CoinJournal.

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Crypto lender Celsius ordered to return crypto worth $44M to customers

The funds in question are cryptocurrencies held within custody accounts on Celsius that were yet to be transferred from earned accounts.

KEY TAKEAWAYS

  • The order was given by a United States Bankruptcy in a December 7, 2022 hearing.
  • The amount is only a fraction of the billions that Celsius owes creditors.
  • Celsius advisers and stakeholders agreed that crypto deposited in the custody accounts belongs to its users and not the platform.

United States Bankruptcy Judge Martin Glenn in a December 7, 2022 hearing ordered Celsius to return cryptocurrencies worth about $44 million to the lender’s custody program customers. Delivering the verbal order, the judge noted:

“I want this case to move forward. I want creditors to recover as much as they possibly can as soon as they possibly can.”

Celsius owes billions to creditors

Celsius which has been battling a serious financial crisis for most of 2022, reportedly owes creditors billions and the $44 million it has been asked to return is just a fraction of the total amount the platform owes its customers. However, the order by the court comes after Celsius stakeholders and advisers concluded that the cryptocurrencies deposited in the Celsius custody accounts belonged to its users and not the platform.

The judge’s order however only applies to pure custody assets, those that haven’t been used in the Celsius Earn accounts but rather have only been present in the custody program.

As of August 29, 2022, Celsius held over $210 million in the custody accounts but only $44 million of the amount falls within the category prescribed by the judge’s order.

Majority of the funds that Celsius owes customers were held in the Celsius Earn accounts that allowed customers to earn interest on their deposits.

The post Crypto lender Celsius ordered to return crypto worth $44M to customers appeared first on CoinJournal.

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PayPal expands cryptocurrencies operations to Luxembourg

PayPal has announced that it is expanding its cryptocurrency operations to Luxembourg despite the ongoing crypto winter which is projected to extend to 2023 after the FTX collapse.

KEY TAKEAWAYS

  • 2022 has been one of the darkest years for the crypto industry because of the crushing prices and collapse of crypto giants.
  • PayPal expanding crypto services to Luxembourg offers hope for the crypto world.
  • PayPal will start its operations in Luxembourg within a few days.

Luxembourg is one of those countries that is always ready to embrace new innovations and technological development, which has made it a destination of choice for many financial companies including PayPal. In a press release, PayPal said that its crypto services would be in the country very soon to allow citizens to buy, sell, and hold cryptocurrencies.

According to PayPal’s press release, PayPal is currently working with Luxembourg’s regulators and policymakers to create a policy that suits the investors, PayPal, and the country.

PayPal crypto services

PayPal also said that they are working closely to boost the ever-growing crypto industry. It launched cryptocurrency services in 2020 in different states in the US before moving the services to the UK in 2021.

According to the PayPal CEO:

“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.” 

At the moment about four cryptocurrencies are available on PayPal as the firm works to integrate all crypto and blockchain services. Customers can buy, sell, and hold cryptocurrencies. PayPal allows customers to buy cryptocurrencies through different websites, apps or other crypto platforms.

PayPal crypto fees

PayPal does not impose any tax or fees on buying, selling, or holding cryptocurrencies. All that is required is for a person to have a valid PayPal account.

The post PayPal expands cryptocurrencies operations to Luxembourg appeared first on CoinJournal.

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IMX is down by 9% but will it recover soon after Nifty Gateway launches on Immutable X?

  • Nifty Gateway officially launches on the Immutable X network.

  • IMX has lost nearly 10% of its value and could dip further before the end of the day.

  • The broader crypto market continues its poor performance this week.

Nifty Gatesway launches on Immutable X

IMX, the native token of the Immutable X Layer-2 blockchain, is down by more than 9% in the last 24 hours. At press time, the price of Immutable X stands at $0.44 per coin.

Nifty Gateway, a leading NFT marketplace, officially went live on the Immutable X network on Wednesday. According to the Immutable X team, they would work on high-quality games, looking for a premium drop experience provided by Nifty Gateway.

This latest cryptocurrency news wasn’t enough to get IMX out of its ongoing bearish trend. The broader cryptocurrency market has also been underperforming over the last 48 hours. The total crypto market currently stands at $840 billion, down by 1.6% in the last 24 hours.

 Bitcoin and Ether, the two leading cryptocurrencies by market cap, have also been bearish lately. Bitcoin is down by more than 1% so far today and is trading around $1,680 per coin, while Ether has lost 2.6% of its value and is now trading at $1,229.

Key levels to watch

The IMX/USD 4-hour chart has turned bearish as Immutable X has been underperforming in the last few days. The broader crypto market is outperforming IMX at the moment.

IMX/USD Chart By TradingView

 

IMX’s MACD line dropped into the negative zone yesterday, indicating that the bears have taken control of the Immutable X market. The 14-day RSI of 39 shows that IMX could enter the oversold region soon.

With the bears in charge, IMX could dip below the $0.3984 support level before the end of the day. However, unless the bulls recover quickly, IMX could slip toward the $0.3761 support level in the near term. 

Where to buy Immutable X now

Huobi

Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.

Buy IMX with Huobi today

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Wait for a bullish confirmation as Dogecoin retests the $0.09 support

  • Dogecoin lost 4.58% on Wednesday in a market correction

  • The cryptocurrency still holds a bullish bias

  • DOGE is a buy on bullish signals at the support zone of $0.09

An intraday loss of 4.58% may not be good news for investors holding Dogecoin (DOGE/USD). However, it rings well in the ears of investors looking to have a piece of the meme cryptocurrency. That’s because DOGE’s slide takes it back to an important breakout level that has now become support. The level is a buy zone as long as DOGE confirms a bullish reversal. It could happen in the next few days.

The trading in DOGE coincides with unending speculation that Twitter will use cryptocurrency as the payment method. Even as most cryptocurrencies continue to struggle, DOGE is giving investors hope that a recovery is on the horizon. Since the FTX-inspired rally, DOGE has been on a slow but sustained recovery. Buyers are also taking note.

DOGE holders’ distribution indicators show that nearly 70% of buyers of the cryptocurrency hold it for more than a year. These are holders convinced of a return to previous all-time highs, unlike short-term traders who exit at the next profit level. But aside from this key fundamental, DOGE is currently attractive to short-term buyers, as the technical indicators below show.

DOGE retests $0.09 for a potential bullish move

DOGE/USD Chart by TradingView

The daily chart outlook shows DOGE retesting the support at $0.09. That comes as the price was rejected at the 50% Fibonacci retracement level, coinciding with a price of $0.10. The slowdown has resulted in a decline in RSI, although the reading remains above the midpoint.

Potential price action at the $0.09 support could usher in an upside. The support also coincides with the 20-day and 50-day moving averages, giving a confluence of price action for DOGE.

What to watch next for DOGE?

Bullish reversal signals at the $0.09 support will validate buying Dogecoin. The reversal will set DOGE for $0.12, the 61.8% Fibonacci retracement zone. 

Where to buy DOGE 

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 DOGE with eToro today

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