Schlagwort: crypto business

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Metahero (HERO) price surged by over 5% yesterday and slid back to red: here is why

Due to market uncertainty, the HERO coin has been one of the most volatile cryptocurrencies over the past month. Yesterday it surged by more than 5% but later dropped to today’s 8.74% price drop%. 

But why did the coin rise yesterday and why was the rise too shallow. In this article, we will look at the possible reasons behind yesterday’s uptrend.

Metahero background

But before we delve into these reasons it’s important, we first enlighten those who might be coming across the term ‘Metahero’ for the first time.

In a nutshell, Metahero is a crypto coin metaverse launched in July 2021 with a vision to create an ultra-realistic digital world where users can scan real-world humans and objects into the Metaverse.

It partnered with the leading 3D 16k scanning technology and also the leading gaming industry, Wolf Digital World (WDW), to aid its vision.

Metahero Metascanner on site at FAME MMA # 14

One of the main reasons why Metahero’s price is rallying is the current development it’s undertaking with the recent one being the sponsorship from the FAME MMA event where they will make their first traveling scanner (Metascanner) available on site. All the users will have an opportunity to check this one out.

This event is scheduled to take place next month, on May 14. 

Metahero’s Everdome NFT drop

Another reason that has highly contributed to the recent bullish trend is after Everdome (Metahero’s Metaverse) finished the Genesis NFT drop snapshots last week.

DOME (Everdome native token) holders will be allowed to claim founding keys to Everdome.

HERO staking announcement

Another reason that might have spiked the rally to some extent is after Metahero announced last week that HERO staking was going to commence on April 22 on a new centralized exchange, Kanga.

https://metahero.io/news/hero-staking

However, according to the announcement, the withdrawn tokens will be locked for 7 days and APYs generated automatically based on Kanga’s system.

The post Metahero (HERO) price surged by over 5% yesterday and slid back to red: here is why appeared first on Coin Journal.

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Here is why the price of XDC Network (XDC) coin has been surging in the past two weeks

While the majority of the altcoins are dipping, the price of the XDC coin has been rallying in the past two weeks.

Yesterday the price of the XDC coin surged by more than 13% hitting a daily high of $0.06817 before tracing back to today’s price level of $0.06077. The coin has rallied by over 7.8% over the past seven days and by over 11.0% in the past two weeks.

In this article, we will focus on the reasons why XDC Network’s price has been rising in the past two weeks.

XDCNFT project launch by BlocksWorkz tech firm

One of the main reasons for the current price surge is its recent project (XDCNFT) launch by BlocksWorkz tech firm.

The project is a Non-Fungible Token, (NFT) marketplace that uses XinFin’s blockchain technology (XRC20 network).

The project’s new features

Even though the project was launched at the beginning of this year, 2022, it has continued to add more new features and new NFTs. The NFT partnerships with XDCNFT have also caused it to gain more traction.

In addition to these new and exclusive features, XDCNFT offers only 1% transaction fees and free installation.

XDCNFT tokens

XDCNFT only accepts two tokens for the purchase of NFTs. These tokens are; the XDC (XinFin’s native token) and BLKZ (BlockWorks native token).

All the XDCNFT users are required to have either of the two tokens to sell or buy the NFTs of their choice. Besides, as the number of XDCNFT users increases, the number of BLKZ and XDC holders has also been increasing.

However, the XDC token will have a greater impact on buying as compared to the BLKZ token. This is because XDC has more circulation and usage in the market.

In addition, the increased number of XDC transactions on the XRC20 network increases the market price of the XDC token.

The post Here is why the price of XDC Network (XDC) coin has been surging in the past two weeks appeared first on Coin Journal.

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Best Ethereum DEX coins to buy and hold right now

Decentralized exchanges are often seen as an integral part of the crypto industry. As such, over the years more and more DEXs have been launched on Ethereum and other blockchains. But why are DEXs actually getting so much attention from investors? Here are some reasons:

  • Many DEXs are solving the liquidity limitations that have curtailed their growth for years.

  • DEXs are seen by crypto traders as safer and more private compared to central exchanges.

  • Growth in DEX trade volume is going to keep rising in the near future.

Well, for investors looking for the best Ethereum-based DEXs to invest in, we have three coins below that should be perfect.

UniSwap (UNI)

Uniswap (UNI) is the king of DEXs. It was in fact one of the first such platforms to be built on Ethereum. Other DEXs have followed suit, but most are modeled behind the UniSwap original concept.

Data Source: Tradingview 

At the moment, Uniswap remains the biggest DEX on Ethereum. It also recorded nearly $51 billion in trade volume in January, one of the highest in the market. If you are looking for a tried and tested DEX with a proven track record of success, Uniswap is just perfect.

dYdX (DYDX)

dYdX (DYDX) is designed for derivative traders. It offers access to a huge range of perpetual contracts and futures on several crypto assets. It is also fast, secure, and offers lower fees compared to many derivative trading platforms out there. On average, the platform gets around $6.5 billion in daily trading volume.

1Inch Network (1Inch)

1Inch Network (1Inch) is a liquidity aggregator and DEX that offers users peer-to-peer crypto trading. It is also providing the infrastructure needed to expand DeFi all over the world. The network offers cross-chain liquidity aggregation and makes it easier for traders to buy and sell crypto assets with very minimal slippage fees.

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Fantom (FTM) slides 12% as crypto markets bleed

FTM has also declined against Bitcoin and Ethereum, down by more than 7% on both pairs.

Fantom’s FTM token has plunged more than 12% in Friday evening trading and looks set for more losses given the current bleeding in the crypto market.

FTM is about 21% down this week, with the downtrend taking its value against the US dollar below $1.00.  Selling pressure has pushed the FTM/USD pair to intraday lows of $0.88, below the critical support zone at $0.92 established in September.

This puts the Fantom price on course for a potential retest of prices last seen in February 2021 if a fresh downside gathers momentum towards the next major support line at $0.80.

Fantom could dip to $0.47, says analyst

FTM traded at highs of $3.35 in January, but with the broader crypto market in a downtrend, the cryptocurrency has moved within a declining parallel channel since. It tested highs of $1.68 on 2 April, the upper boundary of the channel.

Declines since have FTM/SUSD currently facing a retreat to the lower trendline, with today’s rot pushing it below the channel’s midline support.

According to crypto trader and technical analyst il Capo, bulls are unlikely to hold above the support line. He suggests that Fantom price might dip to new support at $0.47-$0.52.

Fantom could drop to $0.47 according to il Capo.

Comparing FTM/USD chart outlook this week to that seen in February, he noted:

“As you can see, there were bounces in between, but the target has been reached. I don’t think this level will hold for long though. Main target for FTM is $0.47-0.52.”

The analyst’s comments came earlier in the week, following Fantom’s retest of the $1.00 area.

Looking at the rest of the market, total market capitalization is down 4.1%, while Bitcoin and Ethereum have declined 4.5% and 5.3% respectively at the time of writing. BTC is trading around $38,560 and Ether is trying to hold the $2,800 support zone.

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Binance has briefly halted Solana withdrawals

Binance, the world’s largest cryptocurrency exchange and trading platform, has suspended withdrawals on the Solana (SOL) network, according to a notice given to its users on Friday afternoon.

Per the notice, the suspension of SOL withdrawals follows high volumes of transaction failures. The exchange explained that the problem has been experienced a number of times since 25 April.

“Withdrawals on the Solana (SOL) network have been suspended for a few times since 2022-04-25 (UTC). This is due to high withdrawal volume generated with blank transaction IDs,” the notice read.

Binance added that the failures start on-chain (on Solana) and thus affect the withdrawals.

“Once it is confirmed that the on-chain transactions failed, the corresponding withdrawal requests would be rejected. The entire process takes at least four hours.”

The exchange says it’s collaborating with Solana to find a “stable, long-term solution” to the problem.  Users will be notified once there are updates on this, the Binance team added.

Solana is currently the sixth-largest cryptocurrency by market cap at $31.7 billion. 

In the past 24 hours, it has recorded a trading volume of over $1 billion, with more than $160 million of that in the SOL/USDT pair on Binance.

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