Schlagwort: crypto business

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Will polygon price soar higher after announcing a partnership with Nubank?

MATIC is down by less than 1% despite Polygon’s recent partnership with Nubank. However, the coin could rally higher over the coming hours and days.

MATIC, the native coin of the Polygon network, is down by less than 1% in the last 24 hours. At press time, MATIC is trading at $0.8432 per coin.

The poor performance comes despite Polygon announcing a strategic partnership with Nubank, the leading fintech platform in Latin America. 

According to the terms of the deal, Nubank will launch its own chain using Polygon Supernets. Nubank will also launch its digital token Nucoin on the Polygon network. 

MATIC’s performance comes as the broader cryptocurrency market is underperforming. The total cryptocurrency market cap stands at $923 billion, down by less than 1% in the last 24 hours.

Bitcoin is up by less than 1% and continues to maintain its price above the $19,000 support level. Ether, the second-largest cryptocurrency by market cap, is also up by less than 1% and is currently trading at $1,300 per coin.

Key levels to watch

The MATIC/USD 4-hour chart is bullish thanks to Polygon adding more than 14% to its value over the past seven days. 

MATIC/USD Chart By TradingView

The MACD line is currently in the positive zone, indicating that MATIC is performing excellently at the moment. The 14-day relative strength index of 53 shows that MATIC is not close to the oversold region at press time.

The bulls are gaining control of the market and could push MATIC higher before the end of the day. MATIC could soar past the first major resistance level at $0.9055 over the next few hours.

However, MATIC would need the support of the broader market to rally toward the $0.9402 resistance level for the first time since August. 

If the bears take full control of the market, MATIC could slip below the $0.8033 support level before the end of the day. 

Where to buy MATIC 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 MATIC with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MATIC with Skilling today

The post Will polygon price soar higher after announcing a partnership with Nubank? appeared first on CoinJournal.

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Sam Bankman-Fried warns policymakers from locking in decisions that could impact DeFi

Regulating the decentralised finance (DeFi) space and the broader crypto market remains tough for regulators, and Sam Bankman-Fried has now warned against locking in decisions that could impact the space.

Sam Bankman-Fried, the CEO of FTX crypto exchange, has warned policymakers from making permanent decisions that could impact the DeFi space.

He mentioned this in FTX’s 3,800-word “industry norms manual,” published yesterday. SBF wrote that;

“Above all else: figuring out how and where DeFi and things tangentially related to DeFi do and don’t fit into regulatory contexts is a hard problem and one on which there is not yet firmly settled thought. We should be careful about locking in decisions absent working out a sound and responsible basis for doing so.”

The FTX boss pointed out that maintaining the presumptive freedom of peer-to-peer transfers and decentralised blockchains (unless there is specific evidence of a scam, illicit finance, etc.) is absolutely necessary.

SBF said he hopes a cryptocurrency industry group will look into the issues mentioned in his draft and eventually come up with an appropriate set of community norms.

In the post, the cryptocurrency billionaire also discussed the potential for blockchains to improve the current traditional financial markets. He wrote;

“Tokenising stocks could help simplify securities settlement, providing a stronger and more equitable market structure for retail.”

Earlier this week, the Texas State Securities Board revealed that it is investigating FTX US over allegations that it offers unregistered securities products in the United States via its yield-bearing product.

Regarding the listing of securities on its platform, SBF wrote that FTX analyses various coins and tokens before listing them. He said;

“First, our legal team will do an analysis of the asset according to the Howey Test and other relevant case law and guidance. If that analysis finds it to be a security, we will treat it as such. If the first test does not find it to be a security, we will generally treat it as a non-security commodity, unless the asset is found by the SEC and/or an appropriate court of jurisdiction to be a security. If we do find an asset to potentially be a security, we will not list it in the US unless/until there is a process for properly registering it.’
This latest development comes after SBF revealed earlier this month that FTX could move its headquarters to the United States after SEC registration.

FTX has been spending on acquisitions and bailouts since the start of the year. The company revealed last month that it still has $1 billion to spend on acquisitions. 

The post Sam Bankman-Fried warns policymakers from locking in decisions that could impact DeFi appeared first on CoinJournal.

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pSTAKE partners Anchorage Digital to bring liquid staking to institutions

Liquid staking protocol pSTAKE to offer native crypto to institutions via Anchorage Digital.

Anchorage Digital, the regulated crypto platform offering integrated financial services and custody solutions to institutions, and the first federally-chartered crypto bank in the United States, now supports the custody of PSTAKE, the native governance token of the liquid staking protocol pSTAKE.

pSTAKE Finance is developed by Persistence (XPRT), a liquid staking hub for proof-of-stake (PoS) assets.

Institutional adoption across staking protocols

Despite the crypto market‘s struggles in 2022, institutional adoption continues with major players across legacy and digital assets driving the growth.

In its announcement Wednesday, pSTAKE said it had struck a partnership with Anchorage Digital in a collaboration that will see the US-regulated platform offer secure custody of the PSTAKE token to institutions.

Anchorage Digital’s support for institutions, which includes this crypto-backed loan facility, keeps growing. 

In this case, institutiona can now hold the pSTAKE crypto asset via a secure provider, with ensuing institutional participation helping drive adoption across several staking protocols in the Cosmos (ATOM) ecosystem.

Persistence founder Tushar Aggarwal commented:

“Anchorage has proved to be the industry-leading digital asset custodian, and we are delighted to partner with them to accelerate the next phase of growth for pSTAKE. Anchorage brings both security and a strong user experience, and we’re pleased institutions can now leverage pSTAKE’s liquid staking solution to maximize capital efficiency for their assets. A win-win for both ecosystems.” 

pSTAKE, which offers a multi-chain platform key in the unlocking of liquidity of staked digital assets, allows investors holding proof-of-stake coins to receive PoS rewards without having to sacrifice the liquidity of these assets.

Apart from being the leading liquid staking provider in the Cosmos ecosystem, pSTAKE also supports Ethereum and BNB Chain ecosystems. There are also plans to roll out the solution across other ecosystems, with Solana and Avalanche next in line.

The post pSTAKE partners Anchorage Digital to bring liquid staking to institutions appeared first on CoinJournal.

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After 9% losses in a week, Cardano stares at a bottomless pit

Nearly a month after the Cardano hard fork, the native cryptocurrency (ADA) remains underwater. Largely, the bearish price action is due to a weak market sentiment. However, data by CoinMarketCap shows ADA making bigger slumps compared to its closest rivals.

As of press time, ADA price was trading at $0.357, shedding 8.65% in the past week. The decline is the largest among the cryptocurrencies in the top ten bracket by market cap. Amid the bear momentum, Cardano is witnessing increased activity.

Data shows Cardano network transactions rose 75% month-over-month to 97,959 on October 19. The NFT volume on the network reached 3.0 million on October 17. On October 15, Coin98 Analytics ranked Cardano second in terms of active developer counts. The developments are positive and indicate that Cardano could continue to grow.

Amid the developments on Cardano, whales are showing limited interest in taking the price higher. The price action shows no end in sight for ADA after the token lost an important $0.42 support.

ADA’s bear momentum accelerates after losing the $4.2 support

Source – TradingView

ADA’s price action on the weekly chart shows the token crashing below $4.2. The decline suggests a bottomless next price for ADA with no support in the vicinity. An RSI reading of 32 highlights that bears has been aggressively selling the token after it lost the support. The token is near oversold, but this doesn’t signal an imminent bullish reversal. 

Is ADA a buy now?

There is no clear buy zone for ADA below $4.2. Conversely, we cannot confidently tell the next likely support for the cryptocurrency. As long as ADA trades below $4.2, we discourage buying the token. 

Instead, traders should wait until ADA recaptures $4.2 to buy it. The sentiment should also work in favour of the cryptocurrency.

Where to buy ADA

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

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy ADA with Capital.com today

The post After 9% losses in a week, Cardano stares at a bottomless pit appeared first on CoinJournal.

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Best low-cap coins to buy this week

The cryptocurrency market has been underperforming over the past 24 hours, and this might be a good chance for investors to accumulate more coins.

The cryptocurrency market has been underperforming today after an excellent start to the week. This gives investors an opportunity to purchase more of their favourite coins and tokens.

Bitcoin, Ether, XRP, ADA, BNB and MATIC are some of the most popular coins that investors will be looking at. However, there are certain projects still in their infancy, with low market caps, that could prove to be good buys for investors in the long run. 

Here are some of the best low-cap coins investors can buy this week. 

Top five low-cap coins to buy

Battle Infinity (IBAT)

Battle Infinity has a market cap of $10 million and is one of the best low-cap coins to buy this week. 

Battle Infinity is a gaming platform comprising multiple P2E (Play-to-earn) battle games. The games are integrated within a Metaverse world the team calls the IBAT Battle Arena. 

Gamers also get to enjoy and experience the immersive metaverse world in the Battle Infinity ecosystem. IBAT is available on Pancakeswap and Lbank. 

Where to buy IBAT now

Lucky Block (LBLOCK)

LBLOCK is the native coin of Lucky Block, a leading marketplace for online prizes and competitions. Lucky Block takes advantage of blockchain to promote credibility and transparency in the online gaming ecosystem.

The platform also offers users access to various competitions within its ecosystem. It uses the LBLOCK token to grant players easy access to its platform. With a market cap of just $8 million, LBLOCK is currently available on Pancakeswap. 

Where to buy LBLOCK now

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

1. Buy BNB on a regulated exchange or broker, like Binance ›

We suggest Binance 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 BNB 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 BNB for LBLOCK

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

AUDIUS (AUDIO)

Audius is already a popular name in the cryptocurrency space but remains a very good token for investors interested in music streaming. 

Audius is a decentralized music streaming protocol on the Solana blockchain. The primary goal of Audius was to remedy the inefficiencies of the music industry, allowing artists to gain more rewards for their work. 

AUDIO has a market cap of $154 million and can be found on some popular exchanges, including Binance, KuCoin, FTX, Kraken, Huobi Global, and Bitstamp. 

Where to buy AUDIO now

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy AUDIO with Binance today

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 AUDIO with Bitstamp today

Defi Coin (DEFC)

In terms of market cap, Defi Coin is the lowest in this list. DEFC has a market cap of just $800,000 and is available only on Pancakeswap.

Defi Coin is an algorithmic crypto trading strategies platform. The broader Defi Coin ecosystem intends to become the go-to platform for global decentralised investment products. 

Where to buy DEFC now

Tamadoge (TAMA)

Tamadoge (TAMA) is the native token of the Tamaverse, a fast-rising meme coin. Tamaverse allows users to mint, breed and battle their own Tamadoge pet in the metaverse.

With TAMA, users have the ability to mint the doges they desire. The token also allows holders to breed, train and battle their Tamadoge NFTs and compete for the leaderboard every month. 

With a market cap of just $27 million, TAMA is already gaining popularity and is on listed on some exchanges, including OKX, MEXC, LBank, and Uniswap. 

Where to buy TAMA now

The post Best low-cap coins to buy this week appeared first on CoinJournal.