Schlagwort: crypto business

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BNB Chain burns $772M worth of BNB

BNB Chain has successfully burned over 1.8 million BNB tokens in a transaction completed on 19 April 2022.

Per data from Binance explorer, the transaction saw 1,830,382.48 BNB burned. The market value of the tokens at the time of the burn was over $772 million.

Binance CEO Changpeng Zhao had earlier confirmed the removal of the over 1.8 million BNB. He also acknowledged the successful burn, stating that this activity is part of BNB’s whitepaper.

19th BNB Burn

This was BNB’s 19th burn (for Q1 2022) after Binance adopted an auto burn system that automatically triggers from an on-chain command.

The auto burn system allows for a planned removal of BNB from circulation and takes into account the coin’s price and total blocks generated in the given quarter on the Binance Smart Chain. For Q1 2022, the total number of blocks was 2581627, with the average price at $403.22.

During the 18th burn, over $729 million worth of BNB was removed from circulation.

The next burn is estimated to also see 1.8 million BNB (estimated at $769 million) taken out of circulation. According to data on the BNB Chain, the 20th burn is expected to occur at an average price of $424.59.

BNB Chain plans to reduce the total supply from 200,000,000 BNB tokens to 100,000,000. As of the latest burn, a total of over 34.6 million tokens have been destroyed. Data shows the circulating supply is currently just over 165.3 million.

 BNB supply

 

BNB was trading at $420 at writing time, with the token’s value up by 4.4% in the past 24 hours. BNB/USD has added nearly 7% in the past week.

The post BNB Chain burns $772M worth of BNB appeared first on Coin Journal.

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Highlights April 19: Cryptos in the green despite bearish prognosis

The crypto markets were higher this morning, with the majority of the top 10 cryptos registering gains over the past 24 hours. The dire predictions of a market crash, made by Fortune and other leading media, have not materialized. 

The announcement that Russia might accept crypto as legal tender has not impacted the markets as much as expected. 

Top cryptos

Bitcoin climbed around 5%, trading above $40,000 at the time of writing. Ethereum was up around 4%, and Cardano, XRP, and Solana all recorded gains of around 5%. 

The biggest gainer in the top 10 is Terra, up 15% at time of writing. Terra announced the introduction of self-repaying loans and its stablecoin UST surpassed its rival BUSD, Binance’s stablecoin, by market cap. 

At #16, NEAR Protocol is up 13%, once again picking up a recent bullish trend. 

Top movers

Outside the top 20, ApeCoin jumped around 9%. Most other cryptos also registered gains. All top 100 coins are in the green except Stacks and Decred, which were the only two in the green yesterday. 

The biggest winners are ICON and the Sandbox’ SAND wth 12%, Loopring with 11%, Zcash with 15%, and THORChain with 16%. Privacy coins are increasing in value.  

STEPN’s GMT token is the biggest gainer by far, having added 40% to its value at the time of writing. Stepn announced a revised GEM (mystery box) system and reached the important milestone of 300,000 DAU (Daily Active Users). 

Recently, they launched STEPN x ASICS NFTs, a unique collection of NFT sneakers in partnership with premier sports brand ASICS. It is available on Binance’s NFT marketplace. All of these factors contributed to spectacular price growth.

Trending

Another canine-themed token, Sanji Inu, is making the rounds. It’s up 842% in the last 24 hours. 

Sanji Inu is broadly described as a community driven platform promoting financial well-being by empowering people of all ages and cultures to be in control of their money and create their own wealth opportunities.  

The post Highlights April 19: Cryptos in the green despite bearish prognosis appeared first on Coin Journal.

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Near Protocol price prediction as Ref Finance TVL surges

The Near Protocol price is in an upward trend as the ecosystem growth continued. The token is trading at $17.12, which was about 130% above the lowest level in February. Its market cap has surged to more than $11.35, making it the 17th biggest cryptocurrency in the world.

Near ecosystem growth

Near Protocol is one of the biggest blockchains that seeks to become a leading player in the industry. The network is currently transitioning to become a fully sharded platform. Sharding is a complex process that breaks blocks into smaller pieces known as shards. As a result, the process helps to increase the overall throughput. 

April has been a successful project for the Near Protocol. For one, the developers raised over $350 million from investors. These funds will be used to grow the ecosystem by providing grants to developers and to hire more developers. The new fundraising happened a few months after the developers raised another $150 million.

The Near Protocol price has also risen because of the ongoing ecosystem growth. According to DeFi Llama, the network’s total value locked (TVL) has risen to over $1.4 billion. The TVL of Near itself has risen to $476 million while that of Aurora has jumped to more than $960 million.

On Tuesday, NEAR rose sharply after the TVL in Ref Finance jumped to over $200 million. It has risen by 14% in the past 24 hours and 52% in the past seven days. This makes it the biggest application built in Near Protocol. Other applications in the network have also seen a strong jump of TVL. For example, Burrow rose to over $143 million while Meta Pool rose to more than $143 million.

Near Protocol price prediction

The daily chart shows that the NEAR price has been in a strong bullish trend in the past few months. Along the way, the coin has formed what looks like a cup and handle pattern. This pattern usually sends a signal that the bullish trend will continue. 

It has also moved above the 25-day and 50-day moving averages. The coin has also risen above the ascending trendline shown in brown. Therefore, the Near Protocol price will keep rising as bulls target the all-time high of $20.50.

The post Near Protocol price prediction as Ref Finance TVL surges appeared first on Coin Journal.

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GMT is soaring, up 43%: here’s where to buy GMT

Stepn announced a revised GEMs or Mysterybox system and reached the important milestone of 300,000 DAU (Daily Active Users). Its token GMT rose to the top with the highest traded volume in the last 24 hours.

The ecosystem also launched STEPN x ASICS NFTs, a unique collection of NFT sneakers in partnership with premier sports brand ASICS on the Binance NFT marketplace.

All of these factors contributed to spectacular price growth. 

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

Top places to buy GMT now

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

Head to Pancakeswap, and ‚connect‘ your wallet to it.

4. You can now swap your BNB for GMT

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

What is GMT?

STEPN is a Web3 lifestyle app with fun social elements and gamification design. Users equipped with NFT sneakers can walk, jog or run outdoors to earn GST, which can be used to level up and mint new sneakers. 

Players can choose to lease or sell their NFT Sneakers on the in-app marketplace; users’ GST earnings are stored in the in-app wallet, which has a built-in swap function.

STEPN was created by Find Satoshi Lab, an Australian-based fintech studio. The team won the 2021 Solana Ignition Hackathon Gaming Track and is part of DeFi Alliance Gaming cohort.

Should I buy GMT today?

GMT 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. 

GMT price prediction

Up to Brain cites a few experts who make moderately bullish predictions. They predict 1 GMT will be worth $3.88 by the end of next year and $4.34 by the end of 2024.

GMT on social media

The post GMT is soaring, up 43%: here’s where to buy GMT appeared first on Coin Journal.

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LUNA rallies as UST surpasses BUSD in market cap

Terra’s UST stablecoin has surpassed Binance USD (BUSD) to become the third-largest stablecoin by market cap.

The cryptocurrency market has performed well over the past 24 hours. After a poor start to the week, the broader market has seen its value increase by more than 4% in the past few hours.

The excellent performance sees the broader cryptocurrency market cap rally towards the $1.9 trillion mark again. Bitcoin is trading above $40k after declining towards the $37k support level yesterday.

Ether is also trading above $3,000 again after briefly dropping to $2,800 earlier this week. However, LUNA, the native token of the Terra ecosystem, is the best performer amongst the top 10 cryptocurrencies by market cap.

LUNA is up by more than 16% in the last 24 hours, outperforming the other major cryptocurrencies in the process. 

The ongoing rally is fueled by UST’s latest milestone. UST is the stablecoin backed by the Terra ecosystem. According to the latest data, UST has now become the third-largest stablecoin by market cap.

UST’s market cap now stands at $17.5 billion, surpassing BUSD ($17.3 billion) a few hours ago. UST has grown by more than 1,000% over the past year, making it the fastest-growing stablecoin in the crypto market.

Key levels to watch

The LUNA/USD 4-hour chart is the most bullish amongst the top 10 cryptocurrencies by market cap. At press time, LUNA is trading at $89 per coin.

The MACD line crossed the neutral zone a few hours ago, indicating strong bullish momentum. The 14-day RSI of 61 shows that LUNA could be heading to the overbought territory if the rally continues.

If the bulls remain in charge, LUNA could surpass the first major resistance level at $95 before the end of the day. However, it would need the support of the broader market to move past the $100 mark for the second time this month. 

The post LUNA rallies as UST surpasses BUSD in market cap appeared first on Coin Journal.