Schlagwort: crypto business

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Highlights April 22: Cryptos lower, Decred and Tron surge

The crypto market as a whole was lower with most cryptocurrencies in the red at the time of writing. Decred and Tron are notable exceptions with gains of 8% resp. 17%. 

Top cryptos

Bitcoin lost around 2% of its value and was trading for around $40,700. It’s still in the green if we look at the last seven days. 

Most top 20 coins lost 1-3% today. Polkadot and NEAR Protocol’s NEAR, which has been on a downtrend since yesterday, are both down around 4%. 

Polygon’s MATIC is the only gainer among top cryptos, up 3% in the last 24 h.  

Top movers

Most top 100 coins are also in the red, shedding 2-4% of their value today. Notable exceptions are Tron and Decred. At #22, Tron has been rallying over the past few days. It was up 15% and added another 8% today. 

There are numerous reasons for the upswing. On May 5, Decentralized USD (USDD) will be introduced on the Tron blockchain. This is a fully decentralized stablecoin, which makes finance accessible to all by applying mathematics and algorithms.

The Tron ecosystem recently celebrated one year of stablecoin TUSD’s deployment. Another announcement contributing to the price surge was the official establishment of Tron DAO Reserve.

Decred is the biggest top 100 winner by far with gains of 17%. Today, the official Twitter channel announced the current supply of Decred’s DCR token was approaching 14 million of the 21 million max supply, with a total of approximately 7 million DCR left to mine.

Other coins registering slight gains include Theta Fuel, Loopring, STEPN, Theta Network, and Monero.

Today’s biggest losers are Zilliqa (-11%), Kava and EOS (each -9%), and Audius (-7%). As all of these coins saw recent rallies, it may be time to buy the dip.  

Yesterday, 0x gained almost 50% after announcing a partnership with leading crypto exchange Coinbase to power the latter’s new social NFT marketplace. 0x has lost 16% today, but it’s still up 22% for the week.  

Trending

The biggest gainer of the day is MOVE Network’s token MOVD, currently trading for $0.047 and fast approaching $0.10 with price growth of 1,115% in the last 24 hours. 

MOVE Network describes itself as a leading NFT aggregator covering a wide spectrum of NFT products. MOVE Network allows enterprises and start-ups to integrate blockchain technologies to enhance their existing businesses. 

Users can utilize MOVE Network to create, own and trade NFTs across various sectors including entertainment, music, artwork, and esports. 

The post Highlights April 22: Cryptos lower, Decred and Tron surge appeared first on Coin Journal.

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Here is why TRX is up by nearly 10% today

The cryptocurrency market has been underperforming over the last 24 hours.

The crypto market has been underperforming over the past few hours, losing more than 1% of its value. The total cryptocurrency market cap has dropped below the $1.9 trillion mark again, erasing some of the gains recorded earlier this week. 

Bitcoin, the world’s largest cryptocurrency by market cap, is down by more than 2% in the last 24 hours and risks dropping below $40k again.

Ether has also lost more than 2% of its value in the last 24 hours but continues to trade above the $3,000 psychological level.

TRX, the native token of the TronDAO ecosystem, is the best performer amongst the top 30 cryptocurrencies by market cap. TRX is up by nearly 10% in the past few hours and currently trades at $0.06808.

The primary catalysts behind TRX’s ongoing rally are the launch of the Decentralized USD (USDD) stablecoin and the launch of the TronDAO Reserve.

TronDAO said USDD is the most decentralized stablecoin in human history and revealed it would be issued on May 5, 2022. 

The team also said TronDAO Reserve is the first decentralized reserve in the industry and is designed to guard the broad blockchain market and industry. 

Key levels to watch

The TRX/USDT 4-hour chart is currently bullish, thanks to Tron’s ongoing rally. The MACD line is deep within the positive region, signifying strong bullish momentum.

The 14-day RSI of 70 shows that TRX could soon enter the overbought zone if the rally continues.

TRX could surpass the first major resistance level at $0.07204 over the next few hours if the bulls remain in control. However, with the broader market currently in a bearish trend, TRX could lose its support at $0.0670 before the end of the day.

The second major support level at $0.06406 should cap further downward movement in the short term.

The post Here is why TRX is up by nearly 10% today appeared first on Coin Journal.

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Crypto investors’ realized gains jumped 400% to $163 billion in 2021: Chainalysis

  • Crypto investors across the globe reaped huge profits in 2021, with realized gains hitting $163 billion
  • In a country-by-country comparison, US investors led with $47 billion. 
  • Chainalysis reports that parabolic price gains for Bitcoin and Ethereum contributed massively. 

A new report from blockchain analysis firm Chainalysis reveals that 2021 was a good year for crypto investors.

According to the report, released on 20 April, global cryptocurrency realized gains reached $163 billion, representing a more than 400% increase compared to gains seen a year earlier.

Per the firm, the surging prices of the leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) helped investors push their yearly gains from $32.5 billion recorded in 2020.

Both BTC and ETH notched new all-time highs in 2021, with Bitcoin hitting prices above $69,000 per coin as Ether, the native coin on the Ethereum blockchain, caressed a new peak above $4,800. 

And despite ending the year lower, the two coins were still way above their yearly opening to mean that most investors closed the year with huge gains.

Ethereum only just edged Bitcoin

One of the observable trends Chainalysis made for the year was the crypto’s second-largest cryptocurrency by market Ethereum drew in more realized gains than the king of crypto BTC.

While total realized gains across the globe from Ether reached $76.3 billion, a measure of the same for Bitcoin put the figure at $74.7 billion.

According to Chainalysis, Ethereum’s slight edge against Bitcoin was largely down to an explosion in decentralised finance (DeFi).

US investors topped with $47 billion

Looking at the country-by-country comparison, the report puts US crypto investors ahead of the curve by a mile. In 2021, US investors’ realized gains hit $47 billion. The figure is much higher than the UK’s ($8.2 billion), Germany’s ($5.8 billion), Japan’s ($5.5 billion), and China’s ($5.1 billion).

Russian investors were among the top 10 with $4.3 billion from crypto investments. 

Overall, the report Chinese investors lagged their US, UK and German counterparts when it comes to realized gains in 2021.

Per the report, while China’s total realized gains jumped from $1.7 billion in 2020 to $5.1 billion last year, the 194% growth rate was lower than the three other major markets.

Crypto investors in the United States posted a 476% jump in realized digital asset gains. The UK had 431% while Germany recorded a 423% increase. According to Chainalysis, “China’s lower growth rate most likely reflects declines in the country’s cryptocurrency activity following government crackdowns.”

The post Crypto investors’ realized gains jumped 400% to $163 billion in 2021: Chainalysis appeared first on Coin Journal.

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OCC issues Consent Order against Anchorage Digital Bank over AML violations

Anchorage Digital Bank has agreed to remedial action and will appoint a Bank Secrecy Act officer to help ensure compliance.

The Office of the Comptroller of the Currency (OCC), the United States national bank regulator, has issued a consent order against Anchorage Digital Bank, according to a news release published on Thursday, 21 April.

Anchorage Digital was the first digital asset bank to receive regulatory approval from the OCC. Granted in January 2021, the conditional approval to the company’s national trust charter application enabled it to change to Anchorage Digital Bank, National Association.

The OCC, however, says the formerly Anchorage Trust Company failed to implement the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements it had agreed to as part of the condition to operating as a federally regulated digital asset bank.

It’s Anchorage Digital’s failure to comply with the KYC and AML provisions that prompted the order, the OCC said in the release.

“The OCC holds all nationally chartered banks to the same high standards, whether they engage in traditional or novel activities,” said Michael J. Hsu, the Acting Comptroller of the Currency.

“When institutions fall short, we will take action and hold them accountable to ensure compliance with federal laws and regulations,” he added.

Anchorage Digital has started remedial action

As part of the remedial action necessitated by the order, Anchorage is required to appoint a compliance committee of not less than three members. It’s also to draw an action plan toward addressing all BSA deficiencies.

The bank has thirty (30) days from the date of the Consent Order to submit the action plan toward achieving and sustaining compliance with the relevant KYC and AML laws.

Anchorage has also agreed to hire a Bank Secrecy Act officer and provide all the necessary support for them to work towards compliance. Other than that, the bank will need to ensure higher customer due diligence, as well as customer risk identification checks, are in place.

The OCC noted in the order that Anchorage Digital has instituted “corrective action” and pledged to ensure full compliance.

The post OCC issues Consent Order against Anchorage Digital Bank over AML violations appeared first on Coin Journal.

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3 crypto dips to buy before the end of April

The broader crypto market has seen a sharp dip in April. But major coins like Bitcoin and Ethereum have stabilized and look like they are ready for the next bull run. For this reason, it may be a great idea to invest in these dips, and here is why:

  • The crypto market has stagnated since the start of 2022 and is poised for a breakout

  • Dips can always deliver double-digit gains 

  • Risk factors in the market including inflation are baked into the pricing

So, if you are thinking of buying the April crypto dip, we have three coins that offer immense potential for great returns.

Helium (HNT)

Helium (HNT) took a beating at the start of April. At one point the coin lost nearly 45% of its value in a single week. HNT has started to recover in fact, over the last few days it has ended in profits in all sessions. 

Data Source: Tradingview 

With this consolidation and price stability, it looks like the upward trajectory will continue. In the end, HNT will recover and try to reach some of the lofty highs it hit in March.

Anchor Protocol (ANC)

The Anchor Protocol (ANC) has also seen some price recovery after dipping at the start of the month. The coin has not pulled up that much but the downtrend has already stopped. With momentum now expected to start building, ANC will go on a bull run. Even if you buy at the current price, there is still so much room for double-digit returns.

Velas (VLX)

Velas (VLX) is yet to break its downtrend but the price action is now solidly above a crucial support zone. It is highly unlikely that the coin will fall below this. As such, VLX is now entering consolidation and in a few weeks, this token will report decisive gains.

The post 3 crypto dips to buy before the end of April appeared first on Coin Journal.