Schlagwort: crypto business

Veröffentlicht am

Why has STEPN (GMT) price risen by more than 320% in two weeks?

With the majority of the altcoins seeing significant price gain lately, there is one by the name of  STEPN (GMT) that has broken the ranks by rallying by over 320% in the past fourteen days.

At the time of writing, it was trading at $2.31 after a slight retracement from a daily high of $2.46 but still in the green with a 12.30% rise over the past 24 hours.

This article reflects on the factors behind the current STEPN price rise.

What STEPN?

STEPN is a Web3 lifestyle app launched on the Solana blockchain with fun features as well as a gaming design. It has two tokens; Green Metaverse Tokens (GMT), which is its governance token, and Green Satoshi Token (GST), which is used as the game token.

To earn GST tokens, users are given NFT sneakers with a built-in swap function to jog, walk or run outdoor, users are rewarded for running or walking. GST earnings are then stored in an in-app wallet and can be used to mint new sneakers or to upgrade game level.

Why is STEPN (GMT) price surging?

There are three main factors being attributed to the current surge in GMT price. These include the recent announcement about Nike and Adidas sportswear by a STEPN representative, STEPN’s partnership with Binance, and STEPN’s plan to apply a move-to-earn method.

  • Announcement about Nike and Adidas sportswear

During an interview, one of the STEPN representatives whose identity was not disclosed said that they have an upcoming announcement regarding big sportswear companies like Nike and Adidas.

In a recent interview, an unnamed STEPN (GMT) crypto platform representative says they have an upcoming announcement relating to sportswear giants Adidas and Nike.

“Big sports brands like Nike and Adidas are known for shaping the market regarding walking and running. Do you see these players as a threat in the future? You will see we have an announcement about this very soon.”

  • STEPN partnership with Binance

In a tweet earlier this week, STEPN gave a hint that it was planning an undisclosed partnership with a crypto exchange, Binance.

  • Move-to-earn method

In addition, during a Solar Eco Fund interview, they said that to remain competitive, they will apply the move-to-earn crypto project to maintain a high return on investment (ROI) on GMT tokens.  

“People are chasing high sustainable ROI, we believe we will be on the top of the list by providing long-lasting use cases and burning scenarios of GMT to maintain the high demand of GMT.”

Besides, STEPN is planning to convert the STEPN app to an NFT marketplace and a social platform.

The post Why has STEPN (GMT) price risen by more than 320% in two weeks? appeared first on Coin Journal.

Veröffentlicht am

Highlights March 31: Solana and Avalanche stand out in top 10

The crypto market as a whole was in the green at the time of writing. Crypto companies in the UK were granted an extension by the country’s financial regulator to get their approval affairs straightened out.

Texas will require large-scale crypto asset miners to receive permission before connecting to the state’s electric grid as demand for electricity is expected to rise sharply among them in the coming years.

Top cryptos

Solana and Avalanche stood out among major cryptos, gaining 9% and 7% over the past 24 hours. Solana gained on news of an OpenSea integration.

Cardano, Polkadot, and BNB all gained above 2%. Bitcoin was trading just above $47,000 at the time of writing, down less than 1% over the past 24 hours.

Top movers

IoTeX and IOST, two similar ecosystems, are seeing spectacular gains today. They’re up 18% resp. 46%. 

IOST built a cross-chain bridge to Polkadot and is launching the trial version of its cross-chain bridge with Ethereum in April, giving users on Ethereum access to quicker and cheaper transactions.

Both IoTeX and IOST users will have more options to earn with DeFi and staking.

Zilliqa is another market leader on March 31, up 32% at press time. Since Zilliqa announced the launch of its metaverse platform Metapolis, it has gained 270%.

Theta Fuel, which powers the Theta Network, is also one of today’s biggest gainers, adding 15%. Tron and Enjin Coin each added 11% to their value.

As the month closes, Chiliz, Aave, and Waves are reversing yesterday’s gains. They lost 5%, 6% and 4% respectively.

Trending

Mooney, a token issued by MoonDao with the purpose of sending a member of the organization to space this year, is up 103% in the last 24 hours. 

After announcing a fundraiser to this end, MoonDAO accumulated 2,620 ETH on Juicebox, the equivalent of $8 million.  

The post Highlights March 31: Solana and Avalanche stand out in top 10 appeared first on Coin Journal.

Veröffentlicht am

You can now buy Theta Fuel, powering Theta Network: here’s where

At press time, Theta Fuel’s price was $0.23 with a 24-hour trading volume of $226.3 million. It is one of today’s biggest gainers, adding 16.39% to its value.

This brief guide has everything you need to know about the Theta Fuel network and coin, including whether you should buy it. Here’s where to buy Theta Fuel if you choose.

Top places to buy Theta Fuel now

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy TFUEL with Swapzone today

Wazirx

WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.

Buy TFUEL with Wazirx today

What is Theta Fuel?

Theta Fuel (TFUEL) and Theta Token (THETA) are the two native tokens on the Theta blockchain. The latter is the governance token of the blockchain, which many Guardian nodes support.

It is also supported by Theta’s enterprise validators, such as Binance, Google, Samsung, etc. TFUEL is the utility token in decentralized data and video delivery. It also powers all operations on the Theta blockchain.

It’s used to pay fees for NFT and DeFi app transactions, to deploy and interact with smart contracts, and to make payments for sharing video streams.

TFUEL is used to encourage ecosystem members to share their bandwidth resources like Edge Caching nodes for data such as video streams. It also provides an incentive to share redundant computing power, like Edge Compute nodes.  

Should I buy Theta Fuel today?

Theta Fuel can definitely 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.

Theta Fuel price prediction

Price Prediction forecasts 1 TFUEL will be worth at least $0.32 next year, up to a maximum level of $0.38. The minimum price in 2024 will be $0.48. TFUEL can reach $0.56 that year. It will trade for at least $0.71 in 2025.

Theta Fuel on social media

The post You can now buy Theta Fuel, powering Theta Network: here’s where appeared first on Coin Journal.

Veröffentlicht am

Top places to buy IOST, which gained 36% on news of positive developments

IOST was in the final stage of developing a cross-chain bridge to Polkadot in early March. The trial version of its cross-chain bridge with Ethereum will be launched in April. This will give users on Ethereum access to quicker and cheaper transactions.

IOST users will also have more options to earn with DeFi and staking. Look no further than this short article for all the details about IOST: what it is, is it worth investing in, and the best places to buy IOST now.

Top places to buy IOST now

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

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

What is IOST?

IOST is described as a fully decentralized, superfast ecosystem and blockchain network with its own wallets and nodes. It’s based on Proof of Believability, a next gen consensus protocol.

IOST was founded by Jimmy Zhong, Terrence Wang, Kevin Tan, Ray Xiao, Justin Li, and Sa Wang and launched in January 2018. Its open-source blockchain infrastructure is designed to be scalable and secure.

Its ultimate goal is to be the backbone for future online services. The consensus algorithm makes sure network transactions are fast and secure. 

The IOST token is a way to resolve the issue with scalability for big companies, which might not be able to leverage blockchains in a customer-facing setting.

Should I buy IOST today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money.

IOST price prediction

Wallet Investor expects an increase in the next 5 years. They predict IOST will be worth $0.137 in March 2027. If you invest $100 in it now, you might have $286 in 2027.

IOST on social media

The post Top places to buy IOST, which gained 36% on news of positive developments appeared first on Coin Journal.

Veröffentlicht am

Axie Infinity hacked for $625 million… and nobody notices

A quick Google search tells me that the biggest bank heist in history took place in Baghdad, Iraq, where $282 million was stolen. It is suspected that it was an inside job, orchestrated by several bank guards. The average bank robbery in America, meanwhile, is apparently $6,500.

It’s easy to lose perspective when reading about these vast amounts of money in crypto. But against the above real-world figures, it really hits home how large the latest hack in crypto is.

Axie Infinity is a blockchain-based trading and battling game where players can breed, raise and trade token-based creatures called Axies. It is one of the biggest success stories in crypto gaming; at a market cap of $3.9 billion, it sits inside the top 50 cryptos.

Last week, Axie was hacked for $625 million. And nobody noticed.

Bye Bye $625 million

Yesterday, it was revealed that $625 million was swiped from Ronin, which is the blockchain underlying Axie. While the stolen funds were revealed in a statement on substack, the hack actually occurred six days earlier. “There has been a security breach”, the statement starts off. Yeah, there certainly has.

The Ronin bridge, which facilitates depositing and withdrawing, was exploited for 173,600 ETH (close to $600 million) and $25.5 million of the stablecoin USDC. Importantly, Sky Mavis did confirm that the Axie NFT tokens (used to enter the Axie Infinity game), as well as the in game currencies AXS and ALP, were safe. But it’s a staggering case of negligence with regards to custody of investor funds.

We caught up with Ahmad Duais, CEO of Battle Drones, which is a play-to-earn game on the Solana blockchain, in order to get some thoughts from within the industry. He said “bridges are still an area of development. The GameFi model is such a revolution that in the near future we will all look back at this as a learning curve similar to the hacks that have occurred at the start of any innovation.“

How?

Sky Mavis, who run both Axie Infinity and Ronin, stated that “the attacker used hacked private keys in order to forge fake withdrawals”. The attack was only discovered yesterday when a user was unable to withdraw 5,000 ETH ($17 million) from the bridge. The hacker had previously completed two fake withdrawals.

In other words, a flaw in Sky Mavis’ code allowed the hacker to gain control of Sky Mavis’ validators, which along with a third-party validators granted the hacker freedom to drain the coffers to the tune of over $600 million. Not only did Sky Mavis’ devs drop the ball on the code, it took them nearly a week to notice they had a $600 million hole on their balance sheet.

Funds

It is the second biggest crypto hack of all time, just behind the hack of Poly Network last summer, although those funds were returned by the hacker. In this case, Ronin confirmed they are “working with law enforcement officials, forensic cryptographers, and our investors to make sure all funds are recovered or reimbursed”. Whether they succeed or not is an entirely different story, however; as of right now, any players who deposited money into Ronin have lost it all.

Ethscan shows the location of the funds

Blockchain being bockchain, however, the location of the funds can be seen at the moment – with all $600 million of ETH nestling comfortably in the above wallet on the Ethereum blockchain.

The blockchain also allows for messages to be inputted as part of transactions. Digging through the hacker’s wallet, you can see several investors who lost their funds have desperately tried to appeal to any human side that may exist within the hacker’s mind. 

A victim cries out to the hacker on ethscan

It’s also a stark reminder that for all the progress DeFi has made, it remains a nascent industry laced with risk. It’s going to exciting places, but the journey at times may be rocky, as for any new industry. This week, we saw over 600 million examples of such.

The post Axie Infinity hacked for $625 million… and nobody notices appeared first on Coin Journal.