Schlagwort: crypto business

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Citi picks Swiss firm Metaco for its digital asset custody

Citi, one of the largest custodians in the world with nearly $27 trillion in assets, has announced a strategic partnership with Swiss-based crypto custody firm Metaco as it looks to offer digital asset custody.

Citi will tap into Metaco’s crypto custody technology to develop a platform for its clients, the two firms said in a press release on Wednesday.

Citi to integrate Metaco’s Harmonize platform

To provide a seamless experience for customers, Citi will undertake full integration of Metaco’s Harmonize, a platform that offers bank-grade crypto custody and orchestration. It’s this platform that will help the banking giant to develop and pilot its digital asset custody, the statement added.

Commenting on the collaboration and what it means for Citi, the bank’s Global Head of Securities Services Okan Pekin said:

“We are witnessing the increasing digitization of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients.”

Citi boasts over 200 million customer accounts, with its business operations accessible in more than 160 countries worldwide.

The bank’s move to develop a crypto custody platform sees it join a growing group of banking giants exploring and offering crypto services. These include some of the world’s largest custodians like BNY Mellon, JPMorgan, State Street, Northern Trust and HSBC.

The post Citi picks Swiss firm Metaco for its digital asset custody appeared first on CoinJournal.

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UniSwap acquired NFT marketplace aggregator Genie

UniSwap Labs the main developer behind the leading decentralized protocol UniSwap has acquired the NFT marketplace aggregator Genie. The move will further incorporate NFT functionality into UniSwap Labs’ product range.

In an announcement made by UniSwap on Tuesday, the developers said the move will unlock universal ownership and exchange NFTs on the DeFi protocol.

The acquisition of Genie will enable UniSwap to incorporate NFT marketplaces into the UniSwap web app and also integrate NFTs into its widgets and APIs. This will make UniSwap a “’comprehensive platform for users and builders in Web3.”

Buying and selling NFTs on UniSwap

According to a tweet on a tweet thread by UniSwap, the protocol said that people will be able to buy and sell NFTs directly on the UniSwap web app starting this fall.

The tweet reads:

“Starting this fall, you’ll be able to buy and sell NFTs directly on the Uniswap web app. And we’ll integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.”

This is not the first UniSwap is being involved with NFTs. In 2019, it launched Unisocks, which offers NFT liquidity pools backed by real-world assets. Therefore, the Genie acquisition will go a long way in bolstering the protocol’s NFT agenda.

USDC Airdrop

In line with the Genie acquisition, UniSwap said that it plans a USDC airdrop to historical Genie users claimable for up to twelve months.

The post UniSwap acquired NFT marketplace aggregator Genie appeared first on CoinJournal.

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Why is Shiba Inu up by more than 12% in the last 24 hours?

The cryptocurrency market has shed some of the gains it recorded earlier this week.

The cryptocurrency market has underperformed over the past 24 hours. The market has lost more than 3% over the past few hours, with the total market cap now under the $900 billion mark again.

Bitcoin has lost its support above the $21k level and risks dropping below $20k for the first time this week. Ether also risks dropping below $1,000 after losing more than 7% of its value in the last 24 hours.

However, SHIB, the native token of the Shiba Inu ecosystem, is up by more than 12% in the last 24 hours. Thanks to this ongoing rally, SHIB is the best performer amongst the top 20 cryptocurrencies by market cap today.

There is no catalyst behind SHIB’s ongoing positive performance. Amongst the top 100 cryptocurrencies by market cap, SHIB is the second-best performer, only behind WAVES.

Over the past seven days, SHIB has added more than 23% to its value, which is superior to some of the leading cryptocurrencies.

Key levels to watch

The SHIB/USD 4-hour chart is bullish as Shiba Inu has been performing well since the start of the week. The technical indicators show that SHIB is recovering from the losses recorded last week.

The MACD line is within the positive territory, indicating bullish momentum in the near term. The 14-day relative strength index of 58 shows that SHIB is no longer in the oversold region.

At press time, SHIB is trading at $0.00000947. If the rally continues, SHIB could surge past the $0.00001084 resistance level before the end of the day. However, it would need the support of the broader market to move past the $0.00001240 in the short term.

The bear market is still in play and SHIB could drop below the $0.00000906 support level if the bears regain control. 

The post Why is Shiba Inu up by more than 12% in the last 24 hours? appeared first on CoinJournal.

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Perpetual Protocol price prediction as PERP defies gravity

The Perpetual Protocol price is defying gravity even as other cryptocurrencies crash. The PERP token is trading at $0.7800, which is about 50% above the lowest level this year. The token has a market cap has jumped to more than $55 million, making it the 356th biggest coin in the world.

What is Perpetual Protocol?

Perpetual Protocol is a leading decentralized exchange (DEX) that enables people to buy and sell cryptocurrencies. It mostly focuses on perpetual futures, which are similar to other futures products but those that don’t have an expiry date. Some of its top competitors are platforms like dYdX, FTX, and BitMex.

The platform has more than $30 million in total value locked (TVL), which is lower than its all-time high of over $51 million. Unlike most exchanges, Perpetual Protocol and other derivative products have seen relatively higher volume during this crash since they allow people to make money as prices retreat.

Perpetual Protocol has made some important strides in the past few months. For example, the developers launched V2 of its platform on Optimism, one of the fastest-growing blockchain projects. This launch had some important features such as the integration with Uniswap v3, which allowed liquidity providers to employ a powerful liquidity provision strategy.

Another useful feature offered by Perpetual Protocol is Perp-Curie Arbitrageur. This opn-source product enables people to execute an arbitrage trade between Perpetual Protocol v2 and FTX. 

It is unclear why the Perpertual Protocol price is soaring. A likely reason is that investors are now buying the dip as they anticipate strong performance of the platform as volatility continues. Since there is no major news, this rally can be part of a pump and dump scheme among traders.

PERP price prediction

The four-hour chart shows that the PERP price declined to the YTD low of $0.4975 during the weekend. It has managed to bounce back and move slightly above the 25-day and 50-day moving averages. The coin remains below the important resistance level at $1, where it struggled moving below in May this year. At the same time, the MACD indicator has moved close to the neutral point. 

Therefore, in my view, I suspect that Perpetual Protocol will resume the bearish trend and retest the important support level at $0.50

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Tether set to launch British Sterling Pound pegged stablecoin

Tether has remained upbeat in its bit quest to expand its market presence amid the crypto market turmoil. Days after launching the offshore Chinese Yuan pegged stablecoin, Tether is set to launch a new stablecoin pegged on the British Sterling Pound.

The new stablecoin duped GBPT is set to be launched early next month.

The GBPT will initially be available only on the Ethereum blockchain.

The growing list of Tether’s stablecoins

The GBPT will be the fifth stablecoin that Tether is launching.

The first was the US dollar-pegged USDT stablecoin, which has become the largest stablecoin by market cap. The next was the euro-pegged EURT stablecoin. Then there is the Mexican Peso-pegged MXNT stablecoin, and the latest launched Chinese Yuan-pegged CNHT stablecoin.

Making UK a crypto hub

In April this year, the UK finance minister Rishi Sunak unveiled a plan to make the country a crypto hub and with the recent moves, Tether believes it will play a great role in helping the country achieve its ambitions.

Additionally, the GBPT comes at a time when the UK government is seeking to have stablecoins recognized as a valid mode of payment an initiative that Tether believes will make the UK a key destination for crypto innovation.

Speaking of the new stablecoin, the CTO of Tether Paolo Ardoino said:

“We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer.”

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