Schlagwort: crypto business

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Anchor Protocol shed almost a tenth of its value: is it time to buy the ANC dip?

After an extended rally ANC, the 93rd biggest coin by market cap, is starting to reverse gains. It had lost almost 10% at the time of writing.  

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

Top places to buy ANC now

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.

Buy ANC with KuCoin today

What is ANC?

Anchor Protocol is a lending and borrowing protocol on Terra, which offers a high yield on stablecoin deposits. The surge in stablecoins’ popularity led to a corresponding surge of the ANC token price. These gains are now starting to recede.

On Anchor, borrowers can turn LUNA collateral into productive assets without relinquishing control. Lenders can deposit their UST and earn attractive rates on their investments while benefiting from low volatility at the same time.

Anchor Protocol has attracted risk-averse investors looking for stable and high-yield investments, increasing demand for Terra’s stablecoin UST. This promotes the adoption of UST and subsequently the adoption of the whole Terra ecosystem in DeFi. 

Should I buy ANC 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.

ANC price prediction

According to Coin Quora, the bullish ANC price prediction ranges from $2.89 to $5. They are positive on its trajectory, predicting it could reach $10 soon. The bearish ANC price prediction is $1.32 for 2022. It’s currently around $3.   

ANC on social media

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Polygon (MATIC) eyes new all-time highs – Can it actually do it?

Polygon Logo on a mobile phone screen

Many coins are experiencing a mixed start to April. Polygon (MATIC) in particular, appears to be losing momentum after a strong push at the end of last month. But despite this, the altcoin is still eying some all-time highs in the near term. Here are all the facts you need to know:

  • MATIC still remains within a crucial demand zone despite falling 8% in 24 hours.

  • Technical indicators suggest that a surge towards $2 is highly likely this week.

  • This could open up a door for a new all-time high of $3 in the near term.

Data Source: Tradingview 

Polygon (MATIC) – The road to ATHs

Hitting $3 may have seemed inconceivable for MATIC a few weeks ago. The coin was really struggling to find any upward momentum. But things have really turned around. At one-point MATIC was in fact testing $2 albeit it has since fallen ever since.

But even with this slowed uptrend, the coin is now between a crucial demand zone of between $1.44 and $1.55. If bulls are able to maintain the price within this range, it is likely that MATIC will break out and race towards $2 again in the coming days.

The key thing after this would be to see just how long the price can stay above $2. If we see a sustained push above $2, it will only be a matter of time before MATIC smashes $3, setting a new all-time high in the process. This thesis will however be invalidated if the price closes below $1.44.

Is MATIC a good buy now?

As long as MATIC remains within the demand zone listed above, we believe it has a lot of upward momentum. It would therefore make sense to buy it and exit at around $2. Long-term investors can also grab MATIC right now before they are priced out in the coming rally.

The post Polygon (MATIC) eyes new all-time highs – Can it actually do it? appeared first on Coin Journal.

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What is making Avalanche’s AVAX price rise as majority of cryptocurrencies dip?

Avalanche’s AVAX price is rising at a time when its peers are on a week’s long dip. Avalanche made a sudden surge and hit a daily high of $90.05 before pulling back to around $87.77 at the time of writing.

AVAX is still trading in the green with a 1.67% gain in the last 24 hours.

So, what are the factors behind the current Avalanche price surge? This article delves into explaining the behind-the-scenes causing the price of AVAX to rise when a majority of coins including Bitcoin, and Ethereum are in the red.

Why is Avalanche price ricing?

The reason for today’s Avalanche price surge is Terra Luna Foundation’s announcement that it has added Avalanche (AVAX) to its UST Reserve. Terra went ahead and bought AVAX coins worth $100 million.

The move made Avalanche the second larger 1 solution digital asset to be added to the UST Reserve with the first being Bitcoin.

Terra Luna Foundation made the revelation through a Tweet stating:

Besides, adding Avalanche to its UST Reserve and buying AVAX coins, Terra has also partnered with Avalanche to develop a new gaming subnet using Avalanches subnets. Terra Luna Foundation bypassed Ethereum to choose Avalanche since they believe Avalanche is experiencing rapid growth and it has a wide fan base.

Don Kwon, who is the founder of Terra said:

“Avalanche is still a growing ecosystem…a lot of it is fueled by loyalty to the AVAX token and users feel a lot of affinity with an asset that aligns itself with AVAX. Whereas for the average Ethereum user, aligning yourself with Ether doesn’t really mean that much.”

The team at Terra Luna Foundation also went ahead and tweeted about Terra collaborating with Avalanche on the new gaming subnet stating that “Avalanche’s subnets are a powerful method for building the next generation of scalable Web3 applications within niche use cases.”

The above developments have brought the recent AVAX price drop to a halt and made it start rising; something most investors believe could be witnessed for at least the next few days if not weeks.

The post What is making Avalanche’s AVAX price rise as majority of cryptocurrencies dip? appeared first on Coin Journal.

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Yellen says no ‘significant’ Russian use of crypto to evade sanctions

US Treasury Secretary Janet Yellen said this while appearing before the US House Financial Services Committee on Wednesday.

With sanctions hitting Russia hard since its invasion of Ukraine, and foreign reserves drying up, some people have opined that the country could turn to crypto to try to evade the sanctions.

Leading exchanges, including Coinbase and Kraken, have previously said it’s unlikely that Russia will take this route. 

But while the US has warned exchanges against “helping” Russia by facilitating suspicious transactions, experts’ overall assessment is that crypto is an unlikely option.

No “significant” crypto for sanctions evasion

US Treasury Secretary Janet Yellen has added her voice to this outlook, with her comments coming during a House Financial Services Committee on Wednesday.

“We are aware of the possibility, clearly, that crypto could be used as a tool to evade sanctions and we are carefully monitoring to make sure that doesn’t occur,” Yellen noted.

However, she told legislators that the US has the capacity to tell if there were any large-scale transactions related to Russia. She added that authorities were on top of this, with her remarks suggesting that there has been no ‘significant” pointer to Russia using crypto to evade sanctions.

“We haven’t seen significant evasion through crypto so far, but we’ll monitor carefully and use our authorities that we do have to make sure that this isn’t a major avenue for evasion,” the former US Federal Reserve Chair said in her testimony before the House committee.

In early March, Yellen said that talk of crypto being used to evade sanctions was there. However, she reiterated that federal authorities were monitoring the sector and that most crypto exchanges likely to be used are subject to AML (anti money laundering) guidelines.

The platforms also have to adhere to sanction rules, and that it’s not a sector through which evasion can “completely” be advanced, she added.

Yellen’s remarks mirror conclusions drawn by blockchain analytics firm Chainalysis, whose testimony before the US Senate Banking Committee in March also pointed to no significant evidence on the blockchain.

On Wednesday, US legislators introduced a bill that seeks to have US-based exchanges ban transactions for Russia-based users. The new bill also seeks to give President Joe Biden powers to sanction foreign-based crypto exchanges that would be deemed to be helping Russia.

The post Yellen says no ‘significant’ Russian use of crypto to evade sanctions appeared first on Coin Journal.

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10 Best Cryptocurrencies for Beginners to Invest in 2022

Cryptocurrencies have been some of the best-performing assets to invest in lately, For example, while the S&P 500 index has risen by about 90% in the past five years, Bitcoin has surged by over 3,400% in the same period. Other coins have done even better. In this article, we’ll look at the best crypto for beginners to invest in and why.

1. Bitcoin (BTC)

Bitcoin is the best-known cryptocurrency globally. It was the first coin ever started and its total market cap has surged to over $800 billion and is the best crypto for beginners because of the volume of material available about it. 

Most importantly, BTC is usually the main driver for other digital coins. They tend to rise when Bitcoin rises and vice versa. Further, Bitcoin is offered by most online exchanges and brokers. It has also had a lot of success over the years as its price has risen from less than $1 to a peak of almost $70,000.

Learn how to buy Bitcoin with our in-depth guide or invest with our recommended platform below.

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2. Ethereum (ETH)

Ethereum is a giant in the blockchain industry. It is a second-generation platform that has smart contract features. These tools make it possible for people to build other decentralized applications (dApps). Today, 80% of all blockchain projects have been built using Ethereum’s platform. 

For example, in DeFi, popular platforms like AAVE, Curve, Maker, and Compound were all built using Ethereum. Similarly, in the non-fungible token (NFT) industry, Ethereum was used to build popular platforms like OpenSea and Axie Infinity. The same is true in the metaverse, where it was used to build Decentraland.

All this has happened at a time when Ethereum is facing strong competition from the likes of Solana, Avalanche, and Terra. As it moves to a proof-of-stake network, there is a possibility that its demand will keep rising.

Learn how to buy Ethereum with our in-depth guide or invest with our recommended platform below.

Buy ETH here!

3. Terra (LUNA)

Terra is another cryptocurrency to invest in by beginners. It is built using the Cosmos SDK and has been used in a number of ways. For example, developers have used Terra to build some of the biggest DeFi apps like Lido, Astroport, and Anchor Protocol. 

At the same time, Terra has been used to build some of the top stablecoins in the world like Terra USD, which has a market value of $16 billion. In South Korea, Terra was used to build Chai, a leading money transfer company. Therefore, Terra will likely keep growing in the next few years.

Learn how to buy Terra with our in-depth guide or invest with our recommended platform below.

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4. Cosmos (ATOM)

Cosmos is a platform that is playing an important role in the blockchain industry. Its main goal is to use the Inter-Blockchain Communication (IBC) protocol to promote the communication of cryptocurrencies. It solves the challenge where most cryptocurrencies don’t communicate with one another. 

Cosmos also has an SDK that has been used to build popular blockchain projects like Terra, ThorChain, and Osmosis. It also has a big stake in Gravity DEX, which is set to become independent soon. Therefore, there is a likelihood that Cosmos will keep growing in the coming decades. This makes it a good cryptocurrency to buy among beginners.

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5. Chainlink (LINK)

Chainlink is a unique cryptocurrency that is good for both beginners and experienced traders. It is a blockchain project in the smart oracle industry. Its role is to make the blockchain work by enabling developers to link off-chain data to on-chain platforms. 

As a result, its work is so important since most developers will always use its service. Chainlink has also become a leading player in the verifiable random number generator (VRF). VRF helps to promote security for blockchain platforms. Therefore, Chainlink is a good cryptocurrency for beginners because of its important role in the industry.

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6. Dogecoin (DOGE)

Dogecoin is another cryptocurrency recommended to beginners. It is a coin whose goal is similar to Bitcoin in that it helps people send money. While DOGE was started as a joke, its role has become integral in the industry. 

Its prominence has been because of Elon Musk, the wealthiest person in the world who has promoted it. Many people now use Dogecoin to make some transactions and even pay tips in hotels. 

Dogecoin is a good cryptocurrency for beginners because of its cheap price and the fact that it has a long runway for growth. A single DOGE goes for $0.144, meaning that with just $100, one can buy 694 coins.

Buy DOGE here!

7. Cardano (ADA)

Cardano is a well-known cryptocurrency that is widely seen as a good alternative to Ethereum. It is a proof-of-stake platform that hopes to become the default place for developers to build their decentralized apps. While Cardano was founded in 2016, its smart contract features came only in 2021.

In the past few months, the number of developers using the network has grown and there is a possibility that this trend will continue. This makes it a good buy for beginners.

Buy ADA here!

8. Cronos (CRO)

Cronos is a relatively new blockchain project that seeks to become a favorite among developers. Its mainnet beta was launched in November 2021 and in a few months, the amount of activity has been rising. According to DeFi Llama, the network has a total value locked of over $4 billion. This is a substantial figure considering that it is now the biggest platform in its industry. Therefore, Cronos is a good investment because of its strong growth.

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9. Filecoin (FIL)

Filecoin is a web3 platform that is seeking to disrupt the file storage industry. It is using decentralization to make it easy for people and companies to improve their storage needs. It uses people from around the world to provide their free storage. It then rewards them with the FIL token, which is now valued at over $4 billion. Filecoin is a good cryptocurrency for beginners because of the real-world challenge it is solving.

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10. Anchor Protocol (ANC)

Anchor Protocol is a leading DeFi platform built using Terra’s technology. It lets people deposit collateral and then take loans. It also allows people to make money by providing liquidity. In a few months, Anchor has over $18 billion in assets and the figure is growing. ANC is mostly used for governance and there is a likelihood it will keep growing.

Buy ANC here!

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