Schlagwort: crypto business

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Huobi Token (HT) sees modest gains after it announced plans to launch a new crypto ETF in Hong Kong

The Huobi Token (HT) reported modest gains in 24-hour intraday trading on Tuesday. This came despite reports that the exchange was planning to launch a brand-new crypto ETF in Hong Kong. The coin remained largely unchanged for most of the day. Here is what to know:

The new Crypto ETF is expected to track some of the major crypto assets

It will largely target retail investors around the world

Huobi is now seeking approval from Hong Kong authorities to get this done.

Data Source: Tradingview 

Will the new ETF have any effect on Huobi Token (HT)?

Based on how investors have so far reacted to this news, it doesn’t seem like there will be a lot of price action as a result. But this is not a small thing by any means. For so many years, ETFs have provided an easy way for retail investors who have limited knowledge of the market to invest money with minimal risk. 

If something like that can be introduced in crypto, it could bring in more retail accounts to Huobi in the long run. Besides, it will also be a nice way for Huobi to bypass restrictive laws in Hong Kong that only allow crypto assets to be sold to professional investors. The potential of this opening up the huge Chinese market for crypto traders is massive.

Is Huobi (HT) worth it?

Huobi is one of the largest crypto exchanges in Asia. The platform has however had to deal with so many restrictions over there. But we are seeing more creative ways to bypass these laws. 

If indeed the ETF will be approved, it would open up more potential for the exchange. This would then mean more fees and more revenue. Based on these details, Huobi would be a good catch for longer-term value investors.

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Why has Compound (COMP) price jumped by more than 10% today?

Compound (COMP) price has surged 10% today at a time when the majority of cryptocurrencies are bullish with the likes of Bitcoin reaching three months high.

At the time of writing, Compound was trading at $143.91 up 10.19% after a slight pullback from a daily high of $148.10.

But why is the coin price skyrocketing? This article focuses on the factors behind the current Compound rally.

What is Compound (COMP)?

In a nutshell, Compound (COMP), is the native token of Compound, a DeFi lending protocol where users can get crypto loans or earn interest by offering their crypto assets to the platform for it to lend them out to others.

Why is Compound price rising?

The two main factors being attributed to the current surge in the price of Compound coin are the recent protocol upgrade announcement and the community’s response to the announcement.

  • Announcement on protocol upgrade

After realizing that its reward distribution program has a negative effect on the COMP price, the platform has come up with a protocol upgrade that will help in the growth of the protocol instead of selling off the rewards without necessarily benefitting the existing token holders and users.

The new program kicked off by reducing the existing rewards by half and it will also probably end COMP farming though depending on how the community votes.

  • Community to embrace the new proposal

The community seems to embrace the new proposal with a majority saying that the 50% cut-off will reduce the rampant inflations that have been experienced in the network before.

There was actually a rush by investors to purchase more tokens since the majority believe that the upgrade will lead to a price hike.

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Why did WAVES price rise by 60% today?

WAVES token has shaken the entire crypto market by rallying over 60% in the last 24 hours. Its latest price surge has made it become the 32nd largest cryptocurrency by market cap surpassing Axie infinity (AXS) and Decentraland (MANA).

At the time of writing, WAVE is trading at $52.44, up 63.13% after hitting a high of $53.81 from a low of $32.12 in the last 24 hours. Additionally, WAVES rose from around $8.9 to above $50 in just seven days.

This article focuses on the forces behind the current surge in WAVES’ price.

Why is WAVES price rising?

Before getting into what is behind the price surge, it is important to first explain what WAVES is.

In a nutshell, WAVES is the native token of the Waves blockchain, which is a multipurpose blockchain platform that enables the use of smart contracts and the development of decentralized applications (DApps).

The main reason why the WAVES price is rallying is the recent launch of Waves Labs in the United States and news that it plans to hire experts.

  • Launching of Waves Labs in the U.S

In February, Waves had announced that it will be launching a new venture, Waves Labs, as its next step for the year 2022.

In a press release, the company said that Waves Lab will represent the blockchain in the United States. It will mainly focus on supporting new projects and raising funds on the blockchain

  • Hiring experts

According to verifiable reports, Waves have hired a senior leadership team with some fintech and crypto veterans like Sasha Ivanov, founder of Waves protocol, serving as the firm advisor.

Moreover, the firm is working on establishing decentralized governance that will improve its integration with other blockchains.

Waves‘ current bullish trend shows that there is a growing interest in altcoins including Solana (SOL) Terra (LUNA), and Cardano (ADA).

The post Why did WAVES price rise by 60% today? appeared first on Coin Journal.

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Highlights: Crypto market bullish, tech stocks push Wall Street up

The crypto market as a whole is in the green with the majority of top 10 cryptos registering gains over the past 24 hours. 

US indices closed higher yesterday, with tech firms and meme stocks shining. The UK100 (-0.04%) edged lower as hopes of a breakthrough in the Russia-Ukraine peace talks faded.

Tesla Motors stock gained 8% after the carmaker revealed plans to split its stock for the second time in less than two years.  

Top cryptos

After a brief plateau, Terra is surging again, up 9% at the time of writing. Bitcoin registered small gains, trading above $47,000 at time of writing. Other cryptos went on to register some gains, including Ethereum, up around 2%, and Cardano and XRP, climbing 2% and 1%, respectively.

Almost three billion SHIB has been burned over the past week, while around half a billion was burned in 24 hours. Shiba Inu gained 5% so far today.

Top movers

Waves Labs is opening headquarters in Miami after announcing an ecosystem transformation plan in February 2022. The Waves cryptocurrency, which broke the top 50 and is now the 32nd by market cap, has gained 64% on the news.

THORSwap announced $470 million in trading volume for March with around 900% growth. THORChain gained 14% on the news. Loopring added 11%. An upcoming NFT drop is one reason.

Compound jumped approximately 14%. At the other end, Zilliqa lost 11%, reversing its spectacular recent gains over the past several days.

Trending

A new cryptocurrency inspired by Will Smith slapping Chris Rock at the Oscars, Will Smith Inu, started trading on UniSwap and PancakeSwap soon after the event. It gained 10,000% in less than 24 h. 

At the time of writing, it was trading for $0.0000000123 and had gained 38% according to Nomics data.

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Flux reaches $800M in TVS: Best places to buy Flux

After reaching a TVS (Total Value Secured) of $800 million, the token of the Flux network and ecosystem went parabolic.

It has generated a trading volume of $46.7 million and added 14% to its value in the last 24 hours. At the time of writing, it was trading for $1.88.

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

Top places to buy Flux now

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

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

What is Flux?

The Flux Ecosystem offers a decentralized, interoperable development environment. It is a fully-functional suite of blockchain-as-a-service solutions and decentralized computing services.

It bills itself as the new generation of scalable decentralized cloud infrastructure. It makes it possible to develop, run, and manage applications on multiple servers simultaneously. Flux is ready to embrace the future of dApps, Web 3.0, etc.

Flux is a native GPU mineable POW (Proof of Work) coin providing incentive for hardware hosters, DAO governance on-chain, and bad actor mitigation via staking requirements for running hardware. 

Should I buy Flux today?

Flux can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt.

Flux price prediction

Up to Brain predicts Flux will reach $2.89 by the end of 2023. The following year, it will increase to $3.53. In 2025, the analyst believes it will reach an all-time high of $4.4.

Flux on social media

 

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