Schlagwort: crypto business

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Here’s why Linear Finance’s LINA token price is surging

LINA price has defied gravity in the past few days as its rally gains steam. Linear Finance token soared to a high of $0.02623, the highest level since April 24th of this year. In all, the token has jumped by more than 365% from the lowest point this year.

Why is Linear Finance token soaring?

LINA is the native token for Linear Finance, a small DEFI platform that offers a cross-chain platform to trade digital assets. The platform offers several features, including Linear Buildr, Linear Exchange, Linear Swap, and Linear Vault. Acording to DeFi Llama, Linear Finance has over $17 million in total value locked.

It is unclear why LINA price has surged in the past few days.A likely reason is that the volume of trades in the ecosystem is doing well, with the TVL surging to over $13 million. It was about $5 million at its lowest level in 2022.

The other reason is that the token is gaining traction in social media. As shown below, data compiled by LunaCrush shows that it is one of the most actively mentioned project on social media. Historically, cryptocurrencies that are mentioned in platforms like Twitter, Reddit, and StockTwits tend to do well.

The same is happening in CoinMarketCap, one of the biggest crypto websites in the industry. As shown below, together with $TOMO, $OXBT, $HEX, and $BIAO, it is one of the top trending coins in the platform.

LINA price prediction

The daily chart shows that LINA crypto price has been in a strong bullish trend in the past few months. This week, the token managed to move above the important resistance point at $0.0194, the highest point on April 6. 

LINA has jumped above the 50-day and 25-day exponential moving averages (EMA) while its volume is drifting upwards. At the same time, the Relative Strength Index (RSI) jumped above the overbought level at 80. 

Therefore, there is a likelihood that the token will retest the key support at $0.175 and then resume the bullish trend. If this happens, the next level to watch will be at $0.030, which is ~50% above the current level. A drop below $0.017 will invalidate the bullish view.

How to buy LINA

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy LINA with Binance today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy LINA with Swapzone today

The post Here’s why Linear Finance’s LINA token price is surging appeared first on CoinJournal.

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Nasdaq 100’s price action indicates more gains for Bitcoin

  • Investors pile into the US tech sector, sending the NASDAQ 100 index higher
  • Bitcoin’s rally should continue on the back of the bullish tech sector 
  • A divergence with the NASDAQ 100 index shows more upside potential for Bitcoin

Tech sector investors are in a frenzy, as they piled into tech companies in a rush not seen for a few years. After correcting for most of 2022, NASDAQ 100, the stock market index representing the US tech sector, is on fire. 

It gained over 30% YTD and looks bullish. 

A combination of factors led to the bullish movement, such as the AI revolution or the cost-cutting measures announced by companies such as Meta or Amazon. The fear of missing out drove investors into tech stocks again, culminating in NVIDIA’s stock price reaching a level that put the company into the $1 trillion market capitalization select club. 

For cryptocurrency traders, these are great news. In particular, Bitcoin looks like it is about to push even higher, despite gaining more than 65% YTD.

Bitcoin chart by TradingView

Bitcoin’s price action lags behind 

Bitcoin has been long traded in a tight, positive correlation with the NASDAQ 100 index. So, for example, while the tech sector index entered bearish market territory last year, Bitcoin followed. 

Moreover, after the NASDAQ 100 index bottomed in late October 2022, Bitcoin followed too. 

Furthermore, this year, the price action was identical, up to a point. That is, they both rallied at the start of the year. Next, a correction followed for both the NASDAQ 100 index and Bitcoin. 

But then they diverged because the tech sector index’s rally continued while Bitcoin price corrected. However, given the positive correlation between the two, one may state that it is only a matter of time before Bitcoin will make a new higher high for the year, providing the tech sector’s rally continues. 

The post Nasdaq 100’s price action indicates more gains for Bitcoin appeared first on CoinJournal.

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Bybit announces exit from the Canadian market

  • Bybit will not accept new account applications from Canadian residents and nationals as from 31 May.
  • Existing customers have until 31 July and thereafter they will only be able to withdraw funds.
  • Any open positions after 30 September 2023 will be liquidated, the exchange said in a notice.

Cryptocurrency exchange Bybit is exiting the Canadian market, according to a notice the company published on Tuesday, 30 May.

The exchange noted that the decision to exit Canada was reached as a result of recent regulatory developments. Bybit said that while it had always been its “primary objective” to comply with all local rules and regulations, the decision to leave was necessary – even if difficult.

Bybit is thus pausing its activities and products in the Canadian market as from 31 May 2023.

No new accounts for Canadian residents

Beginning Wednesday, 31 May, Bybit will no longer accept account opening applications from new users ascertained to be from Canada. The restriction applies to all existing Canadian nationals, the exchange noted.

Existing Canadian customers will still be able to use the platform until 31 July, when they will also be restricted from making new deposits or entering into new contracts. Bybit will also not allow them to increase existing positions across all products and services effective on that date. However, customers will still be able to withdraw funds or reduce existing positions.

Overall, Canadian customers have until 30 September, 2023, 8am UTC to wind down positions. Any margin or derivatives positions still open after this date will be liquidated, with funds made available for withdrawal.

Several crypto firms have exited Canada

Bybit’s exit from Canada comes a day after the exchange announced it had received “in-principle” approval to expand its operations into Kazakhstan.

Notably, the news also come a few weeks after Binance, the world’s largest cryptocurrency exchange by trading volume, exited Canada. As reported, Binance cited new developments around crypto guidelines from Canadian regulators as the reason for its decision.

Since February, when the Canadian Securities Adminstration (CSA) formalised new requirements for crypto exchange operators, several providers have exited. As CoinJournal also highlighted here, these include OKX, dYdX and Paxos.

The post Bybit announces exit from the Canadian market appeared first on CoinJournal.

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Metacade to rival Web 3.0 games as CEO shares an ambitious strategic direction

  • Metacade CEO upholds ambitious goal ahead of the main platform launch

  • Metacade has enjoyed a stellar rise since it started to list on exchanges

  • The token is attractive as Metacade embarks on roadmap

You might be scared – is it the right time to invest in cryptocurrencies during this prolonged bear market? It is reasonable to have this fear, but Metacade (MCADE) CEO Russell Bennett intentionally launched the ambitious Web 3.0 gaming platform in a bear market. Why? Bennett wanted MCADE to soar once the market turns bullish. Shortly after launching the presale, MCADE quickly sold out as investors saw a robust gaming ecosystem unrivaled by peers. Analysts have lauded the token as a 10x investment. There are potential reasons for it.

Metacade’s ambition in Web 3.0 gaming

If you are a gaming enthusiast, perhaps you have been looking for a platform with great earning opportunities and where your voice counts. There are hardly any you can find around. This is why Metacade was initiated.

Metacade aspires to become the biggest community-led Web 3.0 gaming arcade. As a result, it has outlined an ambitious roadmap that it seeks to fulfill. The early goals have already been hit, including the successful presale and listings on exchanges. MCADE can be bought on Uniswap, BitMart, and MEXC Global, with more exchanges to follow. 

One of the greatest reasons Metacade has grown popular is its earning opportunities. Unlike its predecessors, Metacade users can earn by competing in games, creating projects, and working on gig opportunities. Developers have a ready community for their creations and can have their projects funded through MetaGrants. In other words, Metacade aims to become a virtual one-stop shop for gamers, crypto fans, and developers. 

Metacade also seeks to avoid the mistakes of its predecessors – the lack of sustainability. The platform will harbor a launchpad where others can launch their projects and contribute to the revenue of Metacade. Others can also advertise on the platform and post jobs, making Metacade a self-sustaining gaming platform. 

Metacade CEO emphasizes an ambitious strategic goal

After the early successes of Metacade, CEO Russell Bennett is focused on delivering on the project’s roadmap. The Metacade Lite, whose countdown is barely 3 days, will usher in the main platform that will actualize the dream of building a thriving Web 3.0 community. That begins with the launch of the Creat2Earn platform in the second quarter, Play2Earn in the third, and Work2Earn in the fourth.

Metacade’s CEO has emphasized the need to create a great community and platform and forge partnerships to bridge the Web 2.0 and Web 3.0 sectors for its users. Metacade Lite, which launches soon, is expected to actualize the ambitious dream.

MCADE’s price movement and what it means to investors

Just imagine a cryptocurrency launching in a bear market and retaining its value. According to Metacade CEO, the project and cryptocurrency, MCADE, launched in a bear market to keep off the distractions of speculation and hype. It has worked.

Unlike some tokens launched recently with a lot of surges and crashing thereafter, MCADE has maintained its value. The cryptocurrency trades in a bullish market at $0.024, higher than its final price at presale of $0.020. The current price happens in a market correction since MCADE recently hit a record $0.045. The correction reflects profit-taking activities, with the price steadily rising again as demand soars. 

It then means that the price of MCADE could recover to its previous level of $0.045 and surpass it as enthusiasm grows ahead of Metacade Lite launch. As such, the current price could be attractive to investors looking to buy MCADE on the dip.

Investing in MCADE for 10x return – is it realistic

There is no doubt tokens of very innovative platforms like Metacade can increase by 1000% within months of launch. Analysts have projected an even higher return for the token in 2023. A return of 10x is realistic, given that MCADE is already enjoying strong demand on exchanges, which helped the token rise 100% after the presale. It means there is still room for the token to run and could return big to investors.

The post Metacade to rival Web 3.0 games as CEO shares an ambitious strategic direction appeared first on CoinJournal.

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Coinbase stock has upside to $70, analyst says

  • Atlantic Equities upgraded Coinbase Global to “overweight” on Tuesday.
  • Analyst Simon Clinch explained why in a research note to clients.
  • Coinbase stock is already up more than 80% versus the start of 2023.

Coinbase Global Inc continues to be the “best expression of crypto”, says Simon Clinch – an Atlantic Equities analyst.

Coinbase stock could gain 20%

On Tuesday, Clinch upgraded the crypto exchange to “overweight”. His $70 price target suggests a close to 20% upside from here.

He’s bullish on the Coinbase stock partially because the company has topped expectations in terms of executing cost cuts. The analyst agreed that risks including regulation and recession remain on the table but said in his research note:

These actions are building resilience in the business model . . . Coinbase’s recent actions allow investors to look through toward the longer-term opportunity.

Year-to-date, the Nasdaq-listed firm is already up more than 80% at writing.

Coinbase had a strong first quarter

Coinbase has recently launched a Bermuda-based exchange that, at least for now, is limited to non-U.S. institutional users interested in Bitcoin and Ethereum perpetual futures.

Earlier in May, the crypto exchange also reported its financial results for the first quarter that handily topped estimates as Coinbase Prime noted record volumes. According to Atlantic Equities’ Clinch:

Coinbase is regaining custody asset share and is also leveraging its trust credentials to exercise pricing power – both important steps towards building resilience in the model.

Those interested in buying Coinbase stock today should remember, though, that this crypto firm received a “Wells Notice” from the U.S. Securities and Exchange Commission (SEC) in March.

The post Coinbase stock has upside to $70, analyst says appeared first on CoinJournal.