Schlagwort: crypto business

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Liquity, Loom Network Surges as Shiba Memu Token Sale Continues

Cryptocurrency prices have been in a deep slumber in the past few weeks as investors move back to stocks and other safe havens like short-term bonds and money market funds. Bitcoin has remained stagnant betweeen $25k and $30k while the total market cap has remained stuck above $1 trillion.

Loom Network, Liquity surge

Not all cryptocurrencies have remained in this consolidation phase in the past few weeks. As I wrote here, Loom Network price has surged by more than 500% in the past few days, making it the 92nd biggest cryptocurrency in the world. The rally happened after Gate.io, a leading exchange listed the cryptocurrency. 

And this week., Loom Network’s futures were added to leading exchanges like Binance and LBank. As all this happened, the coin entered the so-called markup stage of the Wyckoff model where demand is usually higher than supplies. 

The other top mover was Liquity, a platform that operates the Liquity US dollar stablecoin known as LUSD. Users can take loans using the stablecoin after staking ether as collateral. LQTY price has surged to $1.35, higher than last month’s low of $1.35. 

Liquity’s price action was mostly due to the increased activity in its ecosystem. The latest data shows that users who staked in the protocol received $625k in the last month even as the crypto winter continued. 

Shiba Memu token sale continues

The other big winners in the past few weeks has been Shiba Memu, which has continued raising additional capital in the past few months. The token has raised over $3.8 million, making it one of the most successful token sales in the world. 

For starters, Shiba Memu is a meme token that aims to disrupt the industry that is now dominated by the likes of Shiba Inu and Dogecoin. It aims to do that by combining two of the most popular technologies in the market.

The first technology is artificial intelligence (AI), which has grown rapidly because of the success of ChatGPT and other companies like Anthropic. Analysts believe that AI will be the most disruptive industry in the market.

Shiba Memu will use some of the top building blocks of AI like predictive modelling, data analysis, and image analysis. The end goal is to have a meme coin that evolves over time and markets itself.

The other technlogy is the meme coin, which is mostly hype driven. But in this case, Shiba Memu will have a clear utility as the network grows.

Therefore, analysts believe that investing in Shiba Memu in its presale gives you an opportunity to make a fortune when it gets listed on key exchanges. You can buy the Shiba Memu token here.

The post Liquity, Loom Network Surges as Shiba Memu Token Sale Continues appeared first on CoinJournal.

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FTX Estate stakes $122M Solana (SOL) tokens, alleviating investor concerns

  • FTX Estate stakes $122 million worth of Solana (SOL) tokens.
  • The FTX Estate has strategically delegated 5.5 million SOL with a Solana network validator.
  • The move alleviates concerns about the estate’s potential liquidation of SOL holdings.

In a significant move within the cryptocurrency landscape, the FTX estate has staked over 5.5 million Solana (SOL) tokens, amounting to a substantial $122 million, with Figment, a prominent validator on the Solana network as reported by on-chain data from SolanaFM.

This development comes amid ongoing discussions and speculations within the crypto community regarding the estate’s handling of its substantial Solana holdings. Here’s an overview of the recent events and implications.

FTX Estate’s strategic staking of Solana tokens

The move of staking such a huge amount of Solana tokens with Figment has captured the attention of industry observers, particularly in light of concerns regarding potential sell-offs of the estate’s significant holdings, which could have adversely impacted the market value of SOL.

This staking activity, worth $122 million, signifies a proactive approach from the FTX estate and suggests a bullish stance on the long-term prospects of the Solana blockchain. At press time, the SOL token was trading at $21.96 after surging by 2.08% following the news.

FTX’s asset recovery

In a recent court filing dated September 11, 2023, the FTX estate disclosed that it has successfully recovered assets totalling approximately $7 billion. Notably, this includes a substantial portion of staked SOL tokens amounting to over $1 billion, along with a significant holding of $560 million in Bitcoin (BTC).

The estate also revealed additional asset classes, including $200 million in real estate holdings in the Bahamas and $1.9 billion in illiquid assets. These disclosures underscore the FTX estate’s substantial financial holdings and continued asset recovery and management efforts.

As the former CEO of the collapsed exchange, Sam Bankman-Fried, navigates through a legal battle involving fraud charges, the recent strategic staking by the FTX estate presents a promising outlook for the Solana network. With the unlocking of SOL tokens scheduled to continue, market observers will keenly monitor the estate’s future moves, which could significantly influence the crypto market dynamics.

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Crypto price prediction: Loom Network, ThorChain, Lido DAO (LDO)

Cryptocurrencies had another difficult week even as the US dollar index (DXY) and bond yields rally waned. Bitcoin dropped back to $26,000 while Ethereum slumped to the lowest level in months. There was no major news except the ongoing trial of Sam Bankman-Fried (SBF). This article looks at some of the top coins to watch like THORChain (RUNE), Loom Network (LOOM), and Lido DAO (LDO).

Loom Network price prediction

Loom Network price has defied gravity in the past few months. It surged to a high of $0.300, ~670% above the lowest level this month. It has become the best-performing cryptocurrency in the world. Along the way, the coin has jumped above the 50-day and 100-day moving averages (MA). 

At the same time, oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the extremely overbought level. It has also jumped above the Ichimoku cloud. This surge happened after the coin was listed by the likes of Gate, LBANK, and Binance. 

I believe that the risk/reward ratio is not favourable for now based on the Wyckoff model. In other words, the token has moved to the markup stage, where demand is usually higher than supply. Therefore, it will now enter the distribution phase followed by a markdown. As such, the outlook is now bearish, with the next level to watch being at $0.15.

How to buy $LOOM

Bitvavo

The Bitvavo platform was launched in 2018, with the goal to bridge the gap between traditional currencies and digital assets. Bitvavo is making digital assets accessible to everyone, by offering transparent fees, a wide range of assets and an easy to use platform.

Buy LOOM with Bitvavo today

BKEX

BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.

Buy LOOM with BKEX today

THORChain price forecast

The daily chart shows that RUNE price surged to a high of $2.26 on October 1st. It has now pulled back as the recent momentum faded. This is a sign that it has entered the distribution phase of the Wyckoff model. It has also formed an ascending channel and is now at the lower side.

RUNE price has formed a bearish divergence pattern, which is usually a bearish sign. The Stochastic Oscillator has moved to the oversold level. Most importantly, it has formed a small hammer pattern. This pattern signals that the coin will continue rising as buyers target the resistance point at $2.0. This view will be invalid if it moves below the lower side of the hammer at $1.50.

How to buy RUNE

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 RUNE with KuCoin today

Lido DAO price prediction

LDO price has been in a tight range amid a prolonged slow growth in the liquid staking industry. It has found a strong support at $1.41, which is the lower side of the descending triangle pattern. 

Lido DAO price is consolidating at the 50-day moving average while the Stochastic Oscillator has moved to the oversold point. Therefore, because of the descending triangle pattern, there is a likelihood that it will have a bearish breakout now that the triangle is nearing the confluence zone.

How to buy $LDO

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XLM price: could key Stellar news help stem bearish flip?

  • Stellar (XLM) price was changing hands around $0.10 on Friday, down 7% and 15% in the past 7 and 30 days respectively. 
  • The Stellar Development Foundation has teamed up with Certora to boost security for Soroban.

Stellar (XLM) price traded around $0.10 on Friday morning, positive by about 1.3% in the past 24 hours but -7% and -15% in the past seven and 30 days respectively. The downward trend that has held since the flip from highs of $0.20 on July 13 could now strengthen after XLM broke below the support line of a descending triangle pattern.

Stellar price gives up key support area

Today’s slight upside comes after Stellar news regarding its Soroban, a WebAssembly (WASM)-powered smart contracts platform. The Stellar Development Foundation has teamed up with smart contracts audit platform Certora to boost ecosystem security for Soroban. 

Stellar announced a testnet for the smart contracts platform in September. While the development coincided with a spike to above $0.12 for XLM, the overall picture since has been one of struggle for bulls.

As can be seen on the daily chart below, the XLM price has failed to decisively break above the downtrend resistance line of a descending triangle since July’s downward flip. The bearish outlook remains and could strengthen as bulls struggle to keep prices above $0.10.

Stellar price chart. Source: TradingView

While the $0.11 area is now the new supply zone, sellers taking control beneath this horizontal line has them eyeing the potential dip to $0.09 and even $0.07. The technical picture on the chart has both the daily RSI and MACD suggesting sellers hold the advantage.

Can bulls retake control?

XLM price will need to see a sustained push from current levels towards the descending trendline and possibly break higher to flip bullish.  If XLM breaks above $0.13, buyers might target the immediate term supply wall around $0.16.

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Tether appoints Paolo Ardoino as new CEO

  • Tether says Paolo Ardoino will officially take up the CEO role from December 2023.
  • Ardoino will continue as Bitfinex CTO and chief strategy officer for Holepunch.
  • Meanwhile, exiting CEO Jean-Louis van der Velde, becomes an advisor and remains CEO of Bitfinex.

Tether news just in is that the company’s Chief Technology Officer Paolo Ardoino has been appointed as the new CEO, with the new role effective as from December 2023. Ardoino will continue as Bitfinex CTO and Chief Strategy Officer for Holepunch.

Meanwhile, current CEO, Jean-Louis van der Velde, will “transition to an advisory role for Tether while retaining his position as CEO of Bitfinex.”

New CEO to lead Tether into new growth chapter

Changes at the management level for the stablecoin issuer comes as the company looks to diversify into new verticals. One of the signals for this shift to a technology-focus approach was highlighted by the recent mega investment in Northern Data Group – with Tether eyeing dominance in the artificial intelligence space across Europe.

Commenting on Ardoino’s elevation to CEO, van der Velde said:

“Paolo is extremely well-suited to lead Tether into this exciting new era. I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology. I think I can speak for the entire company when I say that we eagerly anticipate Paolo’s leadership as he guides Tether toward a future where finance knows no bounds.”

In his remarks, Ardoino noted Tether’s commitment to transparency, security, and financial integration of digital assets – goals he will pursue as the new CEO. Notably, Ardoino has been the public face of Tether since 2017, with much of what’s communicated from the company’s leadership put to the public through him.

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