Schlagwort: crypto business

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Dubai’s VARA licenses ex-Singapore lawmaker Calvin Cheng’s Web3 company

According to a news release published Monday, the Dubai Virtual Asset Regulatory Authority (VARA) has granted Calvin Cheng Web 3 Holdings FZE a Virtual Asset License.

Calvin Cheng Web3 Holdings FZE is an NFT and Web3-focused firm started by entrepreneur and former Singaporean parliamentarian Calvin Cheng. The company will invest in projects targeted at integrating digital assets into various sectors, including fashion, media and entertainment.

First NFT provider to seek regulatory approval

The VARA license gives the company access to a structured and regulated market teeming with activity as more payers find Dubai’s investment environment attractive. Already, major cryptocurrency exchanges Binance, Crypto.com, FTX, and Bybit are among the leading recipients of the VARA license.

However, Calvin Cheng Web3 Holdings is the first NFT provider to actively seek regulation when it could operate without in many other jurisdictions—as such, acquiring the license adds to the company’s customer assurance and aligns with the Financial Action Task Force (FATF) regulations.

Membership NFT and fan token

Calvin Cheng Web3 Holdings FZE will offer customers access to two portfolios of NFTs – AmberX and CelebX.

AmberX is a membership NFT that will give qualifying members exclusive and VIP lifestyle access to the Amber Lounge, the leading pop-up lounge for Formula 1. Meanwhile, Celeb X offers an NFT and fan token engagement ecosystem where fans can directly engage their celebrities, including sports icons, models and actors.

About VARA

The Dubai Virtual Assets Regulatory Authority (VARA) is a regulatory body tasked with licensing and regulating the digital assets space in the UAE’s Dubai (except for the Dubai International Financial Centre (DIFC)). VARA was established under UAE laws in March 2022, the world’s first regulatory body dedicated to Virtual Assets. 

The post Dubai’s VARA licenses ex-Singapore lawmaker Calvin Cheng’s Web3 company appeared first on Coin Journal.

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Here is why Fantom is up by more than 14% today

The cryptocurrency market has performed well over the weekend, with the total market cap now above $1.3 trillion again. 

The cryptocurrency market is having a positive start to the new week. The broader market has added more than 1.3% to its value in the last 24 hours and the total market cap now stands above $1.3 trillion.

Bitcoin is once again trading above $30k per coin after adding 1% to its value so far today. Ether is also trading above the $2k threshold after adding 2% to its value in the last 24 hours.

However, FTM, the native token of the Fantom ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap today. FTM is up by more than 14% in the last 24 hours.

The rally can be attributed to the adoption news the Fantom team recorded over the weekend.

Over the weekend, the Fantom team announced that blockchain data indexing protocol Unmarshal has integrated Fantom. The adoption also meant that Fantom is now integrated into the Unmarshal aggregated blockchain explorer Xscan, with portfolio tracking functionality coming soon, the Fantom team added.

Key levels to watch

The FTM/USD 4-hour chart is currently bullish as Fantom has been performing well in recent days. FTM is up by more than 38% in the last seven days, making it one of the top performers amongst the leading 50 cryptocurrencies by market cap.

The MACD line crossed into the positive territory, indicating bullish momentum. The 14-day relative strength index of 71 shows that FTM could soon enter the overbought region.

At press time, FTM is trading at $0.4887 per coin. If the rally continues, FTM could surge past the first major resistance level at $0.5987 before the end of the day. However, the resistance level at $0.7763 should cap further upward movement in the short term.

If the bears regain control of the market, FTM could slip below the $0.400 support level before the end of the day. However, it should comfortably defend the $0.3662 support level in the short term. 

The post Here is why Fantom is up by more than 14% today appeared first on Coin Journal.

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Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol

The crypto market as a whole is bullish with most top 100 coins in the green at the time of writing. 

Top cryptos

Bitcoin gained slightly over the weekend and was trading just above $30,000 at the time of writing. It has seen a roughly 3.3% rise from its closing point on Friday last week. 

Ethereum, the second biggest crypto, also gained around 3% over the same period and is trading for just over $2,000, where it has in recent weeks. 

Outside the top 10, AVAX and Shiba Inu were the biggest winners, rising by more than 6%. Tron’s TRX is up around 3%, as are most top 20 coins. 

In the wake of Terra’s collapse, some investors are trying to escape from the project, while others are trying to pick up the pieces. 

Experts are warning that watchdogs will use the event to push for comprehensive stablecoin regulation. Four-fifths of Terra holders voted to rebuild the protocol on Terra’s governance proposal, but without the algorithmic element. 

Top movers

Outside the top 20, the tendency was similar, with most coins adding 3-9% to their value. Notable standouts include eCash with 14%, Neo with 17%, and Convex Finance and the associated Curve DAO Token with 13%.  

eCash is rising because a competition for a cash prize in its native token XEC is ending soon. Holders have been asked why they love eCash. The best answer will get 1 million XEC.

An exciting Moon Creatures NFT airdrop is coming up soon, and Neo’s token is gaining on the news. TerraUSD (UST) is currently trading for $0.07, up 13.63% so far today.   

At the other end of the scale, Kyber Network’s KNC lost 4% and Zilliqa lost 3%, both reversing recent gains.   

Trending

The biggest winner today is Sweet SOL (SSOL), a multilayer hyper-deflationary token that allows you to receive passive income in your wallet by holding through their mining protocol. 

Each transaction with SSOL provides for 3 functions: burning, reflecting and liquidity generation. SSOL has added 1,038% to its value today.  

The post Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol appeared first on Coin Journal.

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The land of the absurd: how did ANC gain 66% and where to buy ANC?

Sometimes things in crypto can be absurd. The Verge wrote in an article published on May 20 that Luna’s popularity was due to Anchor Protocol’s lending program, which promised annual yields of almost 20 percent.

Terra died, and Anchor Protocol’s token ANC is currently up 66% and gaining. 

If you want to know what ANC is, can it give you good returns, and the top places to buy ANC, you’ve come to the right place. 

Top places to buy ANC now

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.

Buy ANC with KuCoin today

BKEX

BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.

Buy ANC with BKEX today

What is ANC?

Anchor Protocol is a high-yield lending and borrowing protocol on stablecoin deposits. Lenders can deposit stablecoins and profit from their investments while taking advantage of low volatility at the same time – at least that’s what Anchor claims.

Anchor Protocol has attracted risk-averse investors looking for low-volatility, high-yield investments. It focused on LUNA and Terra’s stablecoin UST. 

Anchor Protocol is not the only lending protocol out there; it competes with AAVE, Compound, and more. It claims to stand out through its intuitive use and elegant user interface. 

The main value of the protocol is in connecting lenders and borrowers by offering the latter a way to borrow in stablecoin without losing their investments and the former a high interest rate on a purportedly stable asset. 

Should I buy ANC today?

ANC can be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value. 

ANC price prediction

Wallet Investor believes ANC is a bad long-term investment, echoing sentiment on Twitter that Anchor is ‘next’ after Terra’s crashed LUNA. Digital Coin Price is more positive, predicting a slight increase of ANC to $0.33 this year. 

As for the following years, they predict: 

  • 2023: From $0.31 to $0.37
  • 2024: From $0.28 to $0.42
  • 2025: From $0.40 to $0.49   

ANC on social media

The post The land of the absurd: how did ANC gain 66% and where to buy ANC? appeared first on Coin Journal.

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Wrapped Luna is gaining, up 9%: here’s where to buy Wrapped Luna

The live Wrapped Luna token price today is $0.000189 with a 24-hour trading volume of just under $9 million. Wrapped Luna token is up 8.61% in the last 24 hours.

This brief guide has everything you need to know about the Wrapped Luna token, including whether and where to buy Wrapped Luna if you choose. 

Top places to buy Wrapped Luna now

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

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

What is Wrapped Luna?

Wrapped Luna (WLUNA) is a token on the Ethereum Mainnet that’s intended to represent Terra (LUNA) on this blockchain. It is a separate ERC-20 token created to track LUNA’s value. 

WLUNA was designed to allow LUNA owners to hold, trade, and take part in DeFi dApps on Ethereum. You can exchange 1 LUNA for 1 WLUNA and vice versa through a WLUNA partner. WLUNA requires 14 network confirmations.

Should I buy Wrapped Luna today?

Wrapped Luna can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt. 

Wrapped Luna price prediction

GOV Capital is extremely bullish on WLUNA, forecasting it will trade for $157.24 in a year and for $454 in 5 years. Wallet Investor makes a similar prediction, but warns it may be highly unrealistic due to the nature of Wrapped Luna. 

Price Prediction seems more reasonable. They predict a minimum price of $0.22 and a maximum of $0.27 in 2025.  

Wrapped Luna on social media

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