Schlagwort: crypto business

• The public roll out of the Digital Rial pilot program will start in Kish Island.
• The public rollout of the CBDC’s pilot program aims to test efficiency in transactions, enhancing payment security.
• Success in the pilot program could lead to the expansion of the Digital Rial nationwide, transforming Iranian payments.

Iran’s ambitious project to introduce the Digital Rial, a central bank digital currency (CBDC), is set to enter a pivotal phase after the Central Bank of Iran (CBI) announced it would be opening the pilot program to the public.

The central bank’s move comes after successful testing phases between 2021 and 2023 (between 1400 and 1401 according the Solar Hijri calendar) and successful pre-trials and limited trials between 2023-2024 (between 1402 and 1403 according the Solar Hijri calendar).

Opening of the Digital Rial pilot program to the public

Starting on June 21, the first day of the Solar Hijri calendar month of Tir, the Digital Rial is poised to commence its pilot program on Kish Island. This will mark a significant milestone as the pilot phase transitions from controlled trials to a more expansive public phase, allowing customers of the banking network and tourists in the designated geographical area to utilize Digital Rial for transactions.

The pilot program aims to demonstrate the practicality and efficiency of Digital Rial in real-world scenarios, offering a seamless alternative to traditional banking transactions and payment methods.

Users will have the convenience of conducting transactions through digital wallets without the need for physical cash or traditional bank cards. Transactions are expected to be expedited, enhancing overall payment security and operational transparency.

Moreover, the Digital Rial, which according to reports the central bank started considering in 2018, is poised to bolster Iran’s digital economy by fostering innovative payment solutions tailored to domestic needs. It aligns with broader national objectives of enhancing financial infrastructure resilience and promoting the adoption of digital technologies across various economic sectors.

Once the pilot program ends, the CBI will evaluate the outcomes of the pilot program and successful results may pave the way for expanding Digital Rial’s accessibility beyond Kish Island, potentially transforming how Iranians conduct everyday transactions in the digital age.

The post Iran to open the Digital Rial CBDC pilot program to the public this month appeared first on CoinJournal.

• Solana (SOL) saw a slight bounce on June 19, trading to $141 after a downturn that had bulls defending $130 this week.
• However, SOL remains more than 20% down this past month.

Julien Bittel, head of macro research at Global Macro Investor, believes Solana in on the cusp of a bullish flip. With SOL price down 20% in the past 30 days, Bittel took to X to share his outlook with over 69.2K followers.

The Global Macro Investor chief researcher pointed to the 30-day historical volatility chart for SOL.

In terms of historical volatility, Solana is near the 50 line. A dip below this line has previously resulted in SOL price bouncing higher.

“We’re getting very close to triggering a vol buy signal on SOL,” Bittel said. “A cross below 50 has produced some huge moves over the following two to three months.”

In crypto, volatility can present an opportunity or a risk, with traders often looking at ‘buying the dip’ or ‘taking profit’.

Market sentiment, industry news and events, regulatory developments, and macroeconomic environment are all factors that influence crypto volatility.

Solana performance

A look at the chart shows the 30-day historical volatility line sharply moving up after crossing below.

That happened in December 2022 after the downturn that followed FTX’s implosion, with SOL price rising more than 109% in the next two months.

Other occasions include June 2023 when Solana’s token surged 32% and again in August 2023 with 57%. The biggest jump came in September last year when SOL went parabolic with 521% over the next three months. During this bullish flip, SOL rose from under $20 to reach highs of $121 in December.

In February this year, the 30-day historical volatility line for Solana also crossed below the 50 mark.

The upward momentum that followed resulted in a 78% uptick over three months, a breakout that pushed SOL to above $200.

Solana currently changes hands around $137, but price is up more than 780% in the past year.

The post Solana “very close to triggering” a key buy signal, analyst says appeared first on CoinJournal.

• Curve DAO (CRV) price spiked more than 10% to hit highs of $0.35.
• The token’s value is up 41% since hitting current all-time low amid recent CRV liquidation crisis.
• Data shows whales have aggressively accumulated CRV this week.

Curve DAO (CRV) price soared more than 10% early Wednesday to reach highs of $0.35.

While the Curve Finance governance token’s value remains in the red over the past week and month, today’s gains have pushed CRV up 41% from its all-time low. The token reached this level amid a liquidation crisis involving Curve founder Michael Egorov.

Curve price rebounds amid whale accumulation

CRV price fell sharply on June 13, dropping more than 30% in an hour to hit an all-time low of $0.23. The sell-off came after the Curve founder’s $141 million CRV-backed loan resulted in the liquidation of nearly $100 million of his crvUSD loan.

However, on-chain data also shows a massive accumulation of CRV by whales this week.

Spot On Chain shared in a post on X on June 19 that six whales have so far accumulated 55.26 million CRV worth approximately $19.4 million.

The increase in whale activity has come during the dip in CRV price “post-liquidation crisis,” Spot On Chain pointed out.

Of the six whales, five are first-time accumulators, which reflects the surge in first-time CRV purchases recorded in the past week.

Lookonchain has also noted that whales have bought the dip following the CRV liquidation. In the past 2 days, four wallets withdrew 42.4 million CRV worth $14.9 million from Binance, Lookonchain noted.

CRV bounces alongside other altcoins

Notably, Curve DAO’s gains come amid a broader altcoin uptick on the back of latest Consensys news.

Earlier today, Consensys announced that the SEC has ended its investigation into Ethereum 2.0, news that saw ETH price break higher. Altcoins such as Lido DAO, Ethereum Name Service (ENS) and Uniswap also surged.

Curve’s upside mirrored these broader market gains.

With price up in the past 24 hours, a flip in sentiment that cements a bullish outlook could see CRV break above its pre-liquidation level. According to data from CoinGecko, CRV traded above $0.41 on June 10 and above $0.50 in late May.

The post Curve DAO price soars amid fresh whale accumulation appeared first on CoinJournal.

• Ethereum and other altcoins jumped after the latest news around the US Securities and Exchange Commission (SEC)’s investigation into whether ETH is a security. 
• Lido DAO spiked double digits while Uniswap, Solana and Cardano also surged.

ETH spikes after Consensys vs. SEC news

Ethereum rose to highs of $3,586 on Wednesday morning as the market reacted to an announcement from Consensys that the US Securities and Exchange Commission (SEC) had ended its investigation into Ethereum 2.0.

Consensys wrote that Ethereum had “survived” SEC.

“Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.”

According to the blockchain software company, the SEC’s decision to end the probe means that the regulator will not file charges related to ETH sales being securities transactions.

“The closing of the Ethereum investigation is momentous, but it’s not a cure-all for the many blockchain developers, technology providers, and industry participants who have suffered under SEC’s unlawful and aggressive crypto enforcement regime,” the firm added.

SEC approved Ether spot ETFs

Consensys sued the SEC in April after the regulator initiated an investigation into Ethereum 2.0. Reports indicated the SEC’s investigation started in March 2023.

However, the regulator went on to approve the spot Ethereum ETFs in May this year, with the development pointing to a shift in the agency’s outlook. 

Today’s news comes a few days after Consensys wrote to the SEC over this.

On June 7, the company send a letter asking whether approving spot Ether ETFs meant that Ethereum is a commodity and that the agency would drop its investigation.

A reaction across the market saw other altcoins pump alongside ETH. Lido DAO rose more than 19%, while Solana, Cardano and Uniswap also traded higher, rising more than 4% each.

The post SEC ends investigation into Ethereum 2.0, tokens pump appeared first on CoinJournal.

• HashKey Group announces HSK token launch set for Q3, 2024.
• A community airdrop is scheduled for late June to incentivize community building.

HashKey Group has announced that its token HSK will launch in the third quarter of 2024.

The company stated in an announcement that this token will power all HashKey core applications and use cases. HSK will also play a key role in the community’s growth as the network gains traction within the Web3 economy.

HSK utility

HashKey Group plans an airdrop to reward ecosystem contributors ahead of the token listing in Q3, 2024. The tokenomics of the new ERC-20 standard token include a total supply of 1 billion HSK. 65% is earmarked for ecosystem growth, 30% for the team and 5% will go to a reserve fund.

Per today’s announcement, key HSK utilities include use in community rewards, access to exclusive presales, platform collaborations and fee discounts for users on the company’s HashKey Exchange and HashKey Global.

HSK will also power HashKey’s Layer 2 ecosystem, serving as the native governance, incentives and gas fee token.

It’s notable that HashKey Group boasts a robust Web3 ecosystem that supports infrastructure, artificial intelligence (AI) projects, middleware, DeFi, and Metaverse.

The company’s Launchpool went live in May this year.

Airdrop and token burn

Ahead of token listing, HashKey will launch a community airdrop. The company expects the initiative to go live in late June, and will be used to encourage users to contribute to community building.

A token burn mechanism will see HashKey use up to 20% of the company’s net profits to buy HSK. The program will result in the permanent removal of the HSK tokens from circulation.

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