Schlagwort: crypto business

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LUNA soars as Terra secures $1 billion for a Bitcoin-denominated UST reserve

  • Terra announced it had raised $1 billion from Jump Crypto and Three Arrows Capital, with the funds set to go into a Bitcoin reserve for the network’s largest stablecoin TerraUSD (UST).
  • LUNA price jumped over 14% to break above $60 after the news.
  • Bitcoin was trading near $39,000 after a 4% upside, with bulls looking to strengthen above the key support at $38k.

LUNA, the native token on decentralised proof of stake (PoS) blockchain platform Terra, has soared more than 14% in the past 24 hours, amid a broader bounce in the crypto market.

Terra’s impressive rebound briefly pushed the coin’s value against the US dollar above $60 on Wednesday morning.

According to data from CoinGecko, the LUNA/USD pair is currently hugging the supply barrier, with momentum likely to push the token to highs last seen in January.

$1 billion for a BTC reserve

On Tuesday, the Luna Foundation Guard (LFG) announced it had successfully raised $1 billion in one of the crypto industry’s largest sales.  The platform said the funds are going to into a Bitcoin-denominated reserve for its stablecoin  TerraUSD (UST).

UST is a $12 billion market cap stablecoin, and the reserve funds are set to help ensure the 1:1 dollar peg is fully accounted for in ready funds.

According to LFG, the reserve provides for an extra layer of ensuring the dollar peg does not deviate so much during “contractionary cycles.”

“The UST Forex Reserve is an LFG initiative to provide a further layer of support for the UST peg using assets that are considered less correlated to the Terra ecosystem, like Bitcoin,” LFG wrote.

The decentralised Forex reserve for the stablecoin received investment backing from Jump Crypto and Three Arrows Capital among other top venture capital investors.

LUNA’s price has shot up in the past 24 hours due to the news. LUNA/USD currently changes hands near $59.97.

Elsewhere, Bitcoin price was up 4% at the time of writing to see the top cryptocurrency by market cap hover above $39,000. he BTC/USD pair had dipped below $37,000 on Tuesday as the Russia-Ukraine conflict spooked markets.

The post LUNA soars as Terra secures $1 billion for a Bitcoin-denominated UST reserve appeared first on Coin Journal.

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Highlights Feb 23: Intel reveals BTC mining chip, major cryptos rebound

Top 10 cryptos rebounded after plummeting on Monday. Intel unveiled a new Bitcoin mining chip which may weaken Chinese dominance over the Bitcoin mining hardware market.

US stocks fell yesterday as Russia invaded Ukraine. The DJ30 was down 1.42%, the NASDAQ100 slid 1.23%, while the SPX500 dropped 1%.

The UK100 (+0.62%) advanced yesterday despite news that the UK government had started imposing sanctions on Russia.

The price of oil continues to show volatility over the risk of war. A potential deal with Iran will increase global oil supplies. Oil surged past $94.50 yesterday before dropping below $91.

Top cryptos

Avalanche jumped more than 10%, Cardano gained 9%, Solana almost 8%, and Ethereum and BNB were up more than 5%. Bitcoin was trading just above $38,000 at time of writing, up more than 3% over the past 24 hours.

Terra is up almost 15% today, Polygon around 9%. Crypto.com’s CRO is advancing toward gains of 11% in the last 24 hours.

Top movers

All top 100 coins are in the green today. Standout gainers include Anchor with 18%, Arweave with 11%, Kadena and Quant with 13%, and Stacks, Maker, Fantom, and Decentraland with 10% each.

Hedera’s token HBAR currently ranks #33 on CoinMarketCap and is inching its way toward the top 20 biggest coins by market cap thanks to a stellar recent performance. It added 15% to its value today.

Trending

Doge Rise Up is barking the loudest now. The Binance Smart Chain token, which features automatic liquidity pool growth and holder rewards through taxes on transactions, is up 314% in the last 24 h.

BCOIN is the in-game token of Bombcrypto, a classic play-to-earn game. After a series of exciting updates and upgrades, it has gained 180%.

The post Highlights Feb 23: Intel reveals BTC mining chip, major cryptos rebound appeared first on Coin Journal.

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BCOIN is surging, added 180% to its value in 24 hours: where to buy BCOIN

Cartoon Style Bomb with a BitCoin in front of it to represent Bomber Coin

BCOIN is the in-game token of Bombcrypto, a classic play-to-earn game. After a series of exciting updates and upgrades, it gained 180%. 

Look no further than this article for the details on BCOIN: what it can be used for, is it worth buying, and the top places to buy BCOIN if you choose.

Top places to buy BCOIN now

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

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

4. You can now swap your BNB for BCOIN

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

What is BCOIN?

BCOIN is a token on Binance Smart Chain, which allows holders to play, exchange, invest, and play a role in game ecosystem development. 

BCOIN has high security and liquidity and is easy to exchange, which lets users not only enjoy Bombcrypto, but also profit from it.

BCOIN is the utility token built into the core game system that powers all game progress and developments. Owners can earn rewards through in-game by playing the game and participating in key governance votes.

In the first quarter of this year, players will be able to stake their tokens. They will receive powerful VIP privileges and rewards in return.

Apart from serving as in-game currency, the token speeds up the process of opening the hero box to withdraw tokens. It charges energy quickly, gives access to tickets to battle royale and other exciting events, and lets you create a clan.

Users can stake BCOIN to upgrade their VIP rating. The higher the VIP level, the more incentives for the player.  

Should I buy BCOIN 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.

BCOIN price prediction

Digital Coin Price is bullish on BCOIN. They predict a gradual increase until 2031. It will reach $0.82 this year and $0.95 next year.

In 2024, it will go up to $1.04 and to $1.31 in 2025. The price level is $1.62 in 2027 and $2.51 in 2029. In 2030, one BCOIN will trade for $2.88. It will reach $3.30 the following year.

BCOIN on social media

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Tezos (XTZ) is up nearly 80% from January lows – Is there enough momentum for growth?

Tezos (XTZ) is one of those coins that seems to have really come from the brink. The coin slumped massively in January, at a point even hitting its six-month low. But after the decent rally that we saw at the start of the month, things are looking gloomy for the coin. Here are some facts:

  • Tezos (XTZ) is up over 80% from its lows in January this year.

  • At press time, the coin was down around 7% and was trading at $2.98.

  • It doesn’t seem like there is enough bullish momentum to take XTZ further in the near term.

Data Source: Tradingview 

Tezos (XTZ) – Price prediction and analysis

As noted above, the recovery that we saw on Tezos (XTZ) over the last few weeks has been impeccable. The coin has come from six-month lows to report gains of over 80%. At one point, Tezos was even testing $5. 

But as the crypto market continues to see more weakness due to increased tensions in Europe, Tezos (XTZ) has pulled back significantly. In fact, the coin has lost nearly 26% in the last 11 days and has fallen below a crucial support zone of $3.2. 

This suggests that there will be more weakness in the days ahead. At press time, XTZ was trading at $2.99. The key right now is to watch whether bulls can push the price above $3.2. But this only happens when we start to see more volume in the market.

Should you buy Tezos (XTZ)?

Tezos (XTZ) is a smart contracts platform that is designed to offer better, more efficient operations than Ethereum. So far, the project has seen increased investor interest and is rated among the most promising chains in the market right now. 

It is indeed a very good asset to put in your portfolio, especially when you consider that the market cap is still at $2.6 billion.

The post Tezos (XTZ) is up nearly 80% from January lows – Is there enough momentum for growth? appeared first on Coin Journal.

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Algorand (ALGO) price analysis – Why a 40% correction is coming?

Broader weakness in the crypto market has been quite evident over the last week or so. As a result, we are starting to see Algorand (ALGO) forming a bearish pattern that could lead to a massive price correction. Here are some highlights:

  • At press time, Algorand (ALGO) was trading at around $0.81, down 5% for the day.

  • The $0.8 mark has proved to be a crucial support line but we expect ALGO to fall below that.

  • When this happens, the coin could push towards $0.5 in the near term.

Data Source: Tradingview 

Algorand (ALGO) – The coming 40% correction?

There is no doubt the broader crypto market has seen a lot of weakness in recent days. Algorand (ALGO) has also followed suit. After a more robust performance at the start of the month, the coin is now on the decline. 

The $0.8 mark remains one of the key support zones. Although bulls have done well so far to maintain the price action above this, we don’t expect ALGO to hold out for much longer. As a result, the coin could fall to $0.5 before we start to see any signs of a trend reversal. 

This will represent a correction of nearly 40%. However, if bulls can somehow manage to send ALGO above $0.9, the bearish outlook may abate in the foreseeable future. At press time, the coin was trading at $0.81.

Is it the right time to buy Algorand (ALGO)?

Well, most coins right now are trading lower, so if you are a dip buyer, this would be the time to come in. But when you consider that more weakness is projected on Algorand (ALGO), it would be more prudent to sit out for now and wait for the price to decline further. At least that way, you get minimal downside risk and a discount when you decide to buy.

The post Algorand (ALGO) price analysis – Why a 40% correction is coming? appeared first on Coin Journal.