Schlagwort: crypto business

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Honduras opens the ‘Bitcoin Valley’ in Santa Lucia

Honduras’ ‘Bitcoin Valley’ joins other bitcoin projects in Central America –  El Salvador’s ‘Bitcoin Beach’ Guatemala’s ‘Bitcoin Lake’, and ‘Bitcoin Jungle’ in Puntarenas, Costa Rica.

Honduras has opened its own bitcoin city in Santa Lucia, a tourist town about 20 minutes from the country’s capital Tegucigalpa.

People now have access to goods and services that they can easily pay for all across the ‘Bitcoin Valley,’ Reuters reported on Friday.

The project is an initiative of Blockchain Honduras, Coincaex (a Guatemalan crypto exchange), the Technological University of Honduras and the local Santa Lucia municipality.

Opening up to crypto-tourism

The launch of ‘Bitcoin Valley’ comes amid increased tourist use of bitcoin and other cryptocurrencies, and its establishment looks to promote the Santa Lucia economy through crypto-tourism and by encouraging local business to start accepting digital asset payments.

The initial plan, according to the report, is to have 60 local businesses adopt the use of crypto – with the training then extended to other enterprises. 

These businesses will not have to worry about the tissue of crypto volatility as merchants will not receive the cryptocurrencies. Rather, the crypto exchange Coincaex will process the payments for merchants within the ‘bitcoin city’, with businesses having instant access to what customers pay via the local currency.

The launch of ‘Bitcoin Valley’ joins other three major crypto projects across the Central American region seeking to promote adoption among the general public within specific towns or regions. 

There’s El Salvador’s ‘Bitcoin Beach’ in El Zonte, ‘Bitcoin Lake’ in Guatemala, and ‘Bitcoin Jungle’ in Puntarenas, Costa Rica.

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YFI price prediction: Yearn Finance could sink by 30%

YFI price rose for five straight days as investors bought the dip in DeFi cryptocurrencies. Yearn Finance rose to $11,350, which was the highest point since May 12th of this year. It has jumped by about 172% from the lowest level this month, bringing its total market cap to over $358 million.

Yearn Finance recovery

Yearn Finance is one of the oldest blockchain projects in the decentralized finance (DeFi) industry. It was established by Andre Cronje, a leading player in the industry. Cronje is also credited for creating platforms like Wonderland and Abracadabra.

The platform simply enables people to earn returns from their cryptocurrencies. At its peak, Yearn had a total value locked (TVL) of over $6 billion, making it one of the biggest platforms.

Recently, however, the platform has lost steam as the number of people using it to grow their wealth has fallen. According to DeFi Llama, Yearn Finance has a TVL of about $660 million. It has been overtaken by other platforms like Lido, Maker, and Compound. Yearn is built on top of Ethereum, Arbitrum, and Fantom blockchains.

Yearn Finance was created to be the Amazon of the blockchain industry. After depositing funds in its platform, it scours the market to identify the best returns in other protocols like Aave, Curve, and Compound. As such, users can optimize their returns in just a few steps. 

The YFI price is rising as investors predict that there will be more demand for DeFi tokens now that the industry has weathered this year’s crisis. Indeed, many DeFi platforms have been left unscathed even as other centralized platforms like Voyager Digital and Celsius filed for bankruptcy.

YFI price prediction

The four-hour chart shows that the Yearn Finance price has been in a strong bullish trend in the past few days. It has risen above the important resistance level at $8,100, which was the highest point on June 24th. Yearn has rallied above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved above the overbought level.

Still, with the coin extremely overbought, there is a likelihood that its price will pull back in the next few trading sessions. If this happens, it will retest the support at $8,109, which is about 30% below the current level.

The post YFI price prediction: Yearn Finance could sink by 30% appeared first on CoinJournal.

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Tron price prediction as Unifi Protocol TVL explodes

Tron price has held steady on Saturday as investors focus on the ongoing crypto recovery and the gains made by UNIFI. The TRX token rose to $0.70, which is about 50% above the lowest level this year. Its market cap has jumped to over $6.4 billion, making it the 17th biggest cryptocurrency in the world.

Unifi Protocol and USDD growth

The TRX price has jumped sharply in the past few weeks as cryptocurrencies rebound. Indeed, most coins like Ethereum, Bitcoin, and XRP have all gained recently, with the total market cap of all digital coins soaring to over $1.1 trillion.

Tron has also risen because of the substantial gains made by USDD, the stablecoin that was launched in May this year. USDD is an overcollateralized algorithmic coin that it hopes will become a leading player in the crypto industry. 

Still, there are concerns about the little growth of the coin. After moving from $0 and seeing strong inflows, its market cap has been stuck at $725 million. This is a sign that demand for the coin may have peaked.

For one, investors are scared about its future since the coin is algorithmic in nature and is backed by risky cryptocurrencies like TRX and Bitcoin.

Tron price has jumped because of its expanding DeFi universe. For example, according to DeFi Llama, the total value locked (TVL) in Tron has jumped to over $5.88 billion, making it the third biggest platform after Ethereum and BNB.

Most of this growth has been driven by Unifi Protocol. The total value locked in Unifi has jumped by 581% in the past 30 days to $1.5 million. This is notable since this is a small platform that is gaining traction. Unifi is a platform that offers several products like uTrade, uStake, bridge, and Unifi Bridge.

Tron price prediction

The four-hour chart shows that the TRX price has been in a strong bullish trend in the past few days. It has remained above the ascending trendline shown in red. At the same time, it has moved slightly above the 25-day moving average while the Relative Strength Index (RSI) has moved slightly below the overbought point at 70. 

Therefore, there is a likelihood that Tron price will continue rising in August as demand for the coin rises. If this happens, the next key resistance level to watch will be at $0.80.

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FDIC says deposit insurance does not apply to crypto

The FDIC says the public should note that deposit insurance does not cover non-bank entities and non-deposit products, including stocks and cryptocurrencies.

The Federal Deposit Insurance Corp (FDIC), an independent US agency that insures deposits and helps protect customers in case of given bank failures, has released a clarification message for crypto investors concerning its mandate.

In a fact sheet released on Friday about the FDIC deposit insurance and crypto companies, the agency warns the public that claims crypto deposits being insured are inaccurate.

Per the agency, some cryptocurrency platforms have “misrepresented” information concerning crypto products and their eligibility for FDIC deposit protection.

“These sorts of statements are inaccurate and can cause consumer confusion about deposit insurance and harm consumers under certain circumstances,” the Fact Sheet noted, making it clear that crypto isn’t FDIC-insured. Specifically, the deposit protection doesn’t cover failed non–bank entities, such as crypto companies.

The Fact Sheet also states that “deposit insurance does not protect consumers with non–deposit products such as stocks, bonds, mutual funds, securities, commodities, or crypto assets.”

Non-bank deposits and an insured bank’s products

An FDIC advisory also sought to clarify that while it offers depositor protection to insured banks’ customers, the same does not extend to a non-bank entity or the customers even if the entity offers products via a depository-insured bank.

“In dealings with crypto companies, FDIC-insured banks should confirm and monitor that these companies do not misrepresent the availability of deposit insurance,” read the advisory.

The FDIC’s message to the public follows developments with the bankrupt crypto lender Voyager Digital.

The crypto company, which had some customer deposits with an FDIC-insured bank (the Metropolitan Commercial Bank) has been asked not to misrepresent facts about deposit insurance to its customers.

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The Graph token has a 23% potential from the current bullish momentum

momentum

  • The Graph is an indexing protocol for querying other networks

  • The Graph token GRT surged by 19.44% in 24 hours

  • The token could rise to $0.16, and a potential retracement at $0.13 offers a change for entry.

The Graph GRT/USD may not be the most talked about cryptocurrency. However, the network solves a critical blockchain problem.

The Graph refers to itself as an indexing protocol for querying other networks such as Ethereum. Before the Graph, developers had to come up and run proprietary indexing servers. The process was resource intensive while undermining the security features required in decentralization.

Ranked at position 55 by market cap, The Graph has been making slow but sure gains. Our attention is drawn to 24-hour gains of 19.44%. The gains coincide with an accelerated trading volume which surged by 82%. Investors looking for an alternative to the top major coins should consider The Graph. 

The Graph maintains an uptrend with potential resistance at $0.13

Source – TradingView

Technically, MACD and moving averages are bullish on The Graph token. The cryptocurrency is aiming for the $0.16 resistance, the established resistance. This is after overcoming the bottom price of below $0.10. At the current price of $0.13, the target represents an upside potential of 23%.

Nonetheless, before the token rises to $0.16, it could meet a minor resistance at the $0.13 level. The token is already sliding after hitting the zone. Any potential correction could see The Graph token settle at $0.117. That would open buy trades at a lower level.

Summary

The Graph token is pushing higher as the general crypto sentiment improves. We set our target at $0.16, the main resistance after the token escaped the $0.10 bottom. The price faces some resistance at $0.13. Investors should consider buying on a retracement, potentially at $0.117.

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