Schlagwort: crypto business

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Bitcoin Cash (BCH) rises above $300 after the recent downturn – Is $375 plausible right now?

After a torrid start to March, Bitcoin Cash (BCH) has started to rebound. The coin in fact surged above the crucial psychological mark of $300. But how far can these gains last? Will BCH touch on $375 in the near term? Here are some highlights.

  • The general trend for BCH has largely been downward over the last few months.

  • The coin remains slightly above its 20 Day Exponential moving average.

  • At press time, BCH was trading at $302, up about 7% in 24 hours.

Data Source: Tradingview 

Bitcoin Cash (BCH) – is $375 likely?

There is a lot of uncertainty in the market right now, given the fallout from the Russian invasion of Ukraine. It’s safe to assume that not everything is priced into the market since we don’t really know what will happen next. What we can expect though is increased volatility around crypto and BCH is not any different.

However, we do not see enough upside for BCH to reach the heights of $375, at least not now. In fact, it is likely that the coin will surge towards its supply zone of between $319 and $326 before falling again.

BCH has already lost nearly 64% of its value in less than 3 months. It even hit a 15-month low of $275 in January this year. This downtrend has not broken, and despite the recent surge, we expect more weakness for BCH in the coming days.

Why buy Bitcoin Cash (BCH)

As one of the leading peer-to-peer electronic payment coins, there is a lot of utility for BCH. When crypto becomes highly integrated into global payment systems, BCH is likely to lead the way in this. 

From a fundamental point of view, it is one of the best coins to invest in simply because of the underlying value that it offers. The fact that right now it’s selling cheap should give you more incentive.

The post Bitcoin Cash (BCH) rises above $300 after the recent downturn – Is $375 plausible right now? appeared first on Coin Journal.

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Why Monero is outpacing most big cap cryptos in gain

  • Monero rallied by over 20% in the last 24-hours. 

  • Speculation is rife that upcoming regulations in the U.S or Russian sanctions are behind the pump. 

  • If bulls sustain momentum, Monero could break $250 in the short term. 

Monero (XMR) is one of the world’s best cryptocurrencies when it comes to privacy. Monero uses a ring signature approach to sign transactions, which means multiple signers are brought together to authorize a transaction randomly.

For this reason, no one can trace transaction addresses, balances, or transaction histories. For this reason, Monero coins are fungible, which means that all coins are interchangeable, and none can be blocked.

In the past 24-hours, Monero has rallied by over 20%, making it one of the best performers of the day.

Why is Monero rallying?

There is growing consensus among investors that the U.S is about to introduce a raft of regulations that could affect the use of cryptocurrencies. This has seen users turn to privacy coins since transactions cannot be traced. 

There is also speculation that Russians could turn to privacy coins due to the sanctions on the Russian financial system. Monero is perfect for this role because it is private by default, which means Monero coins cannot be sanctioned.  

Monero eases up after 20% rally 

In the last 12-hours, Monero’s upside momentum has eased up. However, Monero bears have been unable to erase the gains that were made in the first hour of the day. This indicates that the price drop is due to profit-taking, and the overall momentum remains bullish.

If bulls regain control and push Monero through the 24-hour high of $207.8, prices above $215 could be tested in the short term. 

On the other hand, if bears gain momentum and push Monero through the day’s support at $169.65, prices below $150 could be tested in the short term. 

Summary 

Monero rallies as a combination of upcoming U.S crypto regulations and Russian sanctions favor privacy coins. While Monero’s price has eased up due to profit-taking, the overall momentum remains bullish.

The post Why Monero is outpacing most big cap cryptos in gain appeared first on Coin Journal.

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Itheum set to launch on Elrond’s Maiar Launchpad

  • Elrond has announced that Itheum will launch on its Maiar Launchpad 

  • The launch will happen towards the end of March or in early April 

  • Itheum, a Web3 data brokerage platform, wants to tap into the scalability offered by Elrond 

Elrond has announced its strategic support for Itheum, a Web3 data brokerage platform. Through this move, Itheum will be unveiled on the Maiar Launchpad, the strategic launch platform for the Elrond blockchain. 

Itheum is the first decentralized multichain data brokerage firm, and it has been under development for three years. The platform seeks to foster data usage by ensuring the owners can own and trade their data through Web3 or the Metaverse. 

Elrond offers support for Itheum 

Itheum is leveraging the scalable blockchain technology provided by Elrond to create a platform where everyone can manage their personal data in the form of assets. Itheum will also adopt NFMe ID technology to allow users to include a metadata layer on their soulbound Data Avatars for the metaverse.

“Some of the brightest minds of our generation and insane amounts of resources are increasingly focused on finding new ways to harvest data from users and selling it further for ads. If we empower users and businesses to own their data and derive value from it, the internet can progress to a new level of usefulness and trust, a solid foundation for the next territory for human evolution,” said the Itheum CEO, Mark Paul. 

This technology will give users a customized experience while earning a passive income. The technology will also foster end-user adoption while creating a platform where users can access valuable and accurate data at competitive prices. Itheum will debut on the Maiar Launchpad towards the end of this month or early next month. 

The Elrond blockchain 

The Elrond blockchain is one of the most competitive players in the blockchain sector. Its blockchain architecture seeks to provide immense scalability benefits, including fast transaction speeds and high throughput. 

The Elrond blockchain has integrated sharding for scalability, and it has invested in a secure proof-of-stake algorithm. As such, it has been touted as a potential Ethereum killer. The network claims to process more than 10,000 transactions per second at significantly low costs, which is more than what can be said for Ethereum. 

The post Itheum set to launch on Elrond’s Maiar Launchpad appeared first on Coin Journal.

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Highlights March 9: Major cryptos in the green, commodities prices soaring

The crypto market as a whole is rallying today. President Biden is expected to sign an executive order this week which will be a first step in cryptocurrency regulation. It comes now because of concerns that Russia may use crypto assets to circumvent sanctions.

The head of Singapore’s largest bank remarked that he sees crypto like Bitcoin continuing “to grow as a meaningful store of value, in a similar vein to gold“.

The war on Ukrainian soil and crushing sanctions on Russia have led commodities prices to rise to unseen levels in years. 

US indices closed lower yesterday after President Biden announced plans to boycott Russian energy imports. 

Top cryptos

Terra added more than a fifth to its value today and is trading for just below $100. It was listed on Wirex two days ago, contributing to its surge. 

Avalanche was also in the lead, up 10%. It just announced its Multiverse program, funded by 4 million AVAX, worth around $290 million at current prices. It aims to encourage the growth of subnets. AVAX was also listed on Bitstamp two days ago.

Ethereum climbed more than 7%, while Cardano and Solana both rose more than 4%. Bitcoin was trading above $41,000 at time of writing, up close to 8% in the past 24 hours.

Top movers

In terms of price growth, Monero is the Terra of the top 100. While all privacy coins are gaining, Monero is the one that’s rallying the most.

It is believed that sanctions against Russia will lead to more cybercrime, and tokens like Monero are becoming more popular because hackers are likely to demand payments in them. Secret, another privacy token, gained 15% in the last 24 hours.

The live NEAR Protocol price today is $11.12 with a 24-hour trading volume of $750.6 million. The 22nd biggest coin by market cap is up 12.61% in the last 24 hours.

Waves added another 12% today. Other gainers include privacy coins Oasis and Zcash with 12% and 16% respectively, THORChain with 11%, Arweave with 18%, and Anchor and Dash, up 13% each.

Trending

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METAALLBI supports and upgrades the ALL BEST ICO project by creating innovative NFTs designed to reward and deliver added value to all token supporters. It is integrating different applications for the metaverse.

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Cake DeFi invests $100M in new corporate venture arm targeting gaming and fintech startups

Cake DeFi, Singapore-based decentralized finance (DeFi) platform, has launched a new corporate venture arm called Cake DeFi Ventures (CDV). Cake Defi has invested $100 million in the new venture targeting Web3, gaming, and fintech startups.

The new corporate venture arm shall go a long way in empowering Cake DeFi’s user base that spans over half a million registered users.

The Cake DeFi Ventures (CDV)

The CDV shall focus on investing in tech startups across the metaverse, Web3, gaming, esports, and NFTs space that will bring value to Cake DeFi’s main business. The venture shall not only focus on startups in Singapore but look for global investment opportunities.

The CDV is led by Cake Defi’s co-founder Dr. Julian Hosp, Cake DeFi’s CEO, and Cake DeFi’s CTO U-Zyn Chua. These three are the founders of Cake DeFi and the main objective of the project was to build the world’s leading investment platform for DeFi and upcoming alternative assets in Singapore.

The startups that make it to the CDV portfolio can expect to receive strong support from Cake DeFi besides being able to access the many Cake products, users, connections, and resources around the world.

Julian Hosp said:

“By launching Cake DeFi Ventures, we strive towards bringing cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore’s and Southeast Asia’s fastest-growing platform, projects which we invest in can expect to receive strong support scaling globally.”

U-Zyn Chua went ahead to add:

“As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability and specialization, investing in companies that bring synergies to Cake DeFi’s core business will allow us enhance our Web3 offerings.”

Applying for funding from the CDV

To apply for funding from the new venture capital, startups should send an email to contact@cakedefi.vc explaining their project details.

The team at Cake DeFi will then contact the shortlisted projects.

The venture capital is also open for Venture capital firms or investment funds interested in co-investment opportunities or strategic partnerships.

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