Schlagwort: crypto business

• The total value of the stETH tokens that Celsius is trying to withdraw is roughly $437.7 million. 
• The company still holds an additional 188,000 stETH tokens, worth about $342 million.
• Celsius filed for bankruptcy in 2022

Celsius Network, a cryptocurrency lending platform that filed for bankruptcy amid the crypto winter, is unstaking millions of dollars’ worth of ether (ETH).

The funds being unstaked are currently held as staked ether tokens on Lido Finance, a decentralized finance (DeFi) platform that allows users to stake ETH and earn rewards. Lido Finance enabled withdrawals of staked ETH as part of an upgrade this week.

Celsius withdrawing staked ETH

Once withdrawn, Celsius will receive the underlying ETH in exchange for the stETH tokens. Blockchain data indicates that Celsius has initiated withdrawal requests for 240,000 stETH worth roughly $437.7 million, with an additional 188,000 stETH tokens, worth about $342 million, remaining.

It is likely Celcius will use the withdrawn ETH as part of its restructuring and creditor repayment efforts, with creditors owed $4.7 billion.

The post Celsius unstakes millions of dollars’ worth of ETH appeared first on CoinJournal.

• The native tokens of metaverse projects saw a significant price surge after news of Apple venturing into mixed reality.
• Apple is expected to release its highly-anticipated mixed-reality headset in the coming weeks.
• The development is causing another surge in metaverse tokens among them Metacade’s MCADE token.

Metacad (MCADE) price has surged by 20% today as the hype on the much anticipated Apple mixed-reality headset.

Apple is expected to release its new mixed-reality headset in the coming weeks, something that some believe could breathe fresh life into the metaverse industry.

What does the new mixed reality headset mean for Metacade?

When news first broke in January this year, about Apple’s plans to release a mixed-reality headset, the native tokens of metaverse projects like Decentraland and Sandbox witnessed significant surges in price.

The Metaverse token is once again surging after a bear market that hit the entire crypto market over the past weeks. Metacade’s native token, the MCADE, is leading the surge with a surge of 20.59% today.

The trend was highlighted by an independent developer Udi Wertheimer, who in a hard-hitting comment pointed out the absurdity of influencer-driven meme coins saying it could be the same case for metaverse tokens following the release of the Apple headset.

CT is completely oblivious to the fact that Apple is about to launch a mixed reality headset in 3 weeks

Metaverse shitcoins are going to pump so hard it’s not even funny

But you morons keep buying influencer coins

Ok

— Udi Wertheimer 🧙‍♂️ (@udiWertheimer) May 15, 2023

eToro’s market analyst Josh Gilbert held a similar view to Udi Wertheimer and in an interview with a popular media outlet said that he believes the new headset will likely set the crypto market ablaze because of Apple’s high-quality, market-shifting products.

Gilbert however cast some doubts that the success of the launch is critical to the revival of metaverse-related cryptocurrencies.

The correlation between virtual reality and metaverse tokens

The majority of crypto participants believe there is a huge correlation between virtual reality and metaverse tokens. That said, it is worth noting that while the Metacade which is just a few months old already started game development on its platform after successfully completing its presale and listing of its MCADE token on several popular crypto exchanges, Decentraland is currently in the process of building its own VR capabilities.

For some history into the correlation between metaverse projects and cryptocurrencies, cryptocurrencies like MANA and SAND related to the metaverse exploded in popularity during the 2021 crypto Bull Run several metaverse projects backed by seemingly bottomless war chests of venture capital created groundbreaking immersive virtual worlds for users.

According to Gilbert, the performance of metaverse tokens will depend on the widespread uptake of the metaverse among everyday users.

Generally, metaverse projects receive a lot of support from gamers and game developers who have been at the forefront of giving metaverse tokens real-life utility. Almost every new metaverse project and their native tokens receive a very great market uptake.

Metacade, for example, has had quite a significant uptake right from the time it announced its presale. Firstly, the presale sold out so quickly. Secondly, Uniswap and popular centralized cryptocurrency exchanges like BitMart and MEXC Global have already listed the token showing the huge competence amount crypto participants among the crypto community.

However, while the hype around the highly-anticipated Apple headset is likely to trigger some significant MCADE price movement, it is not certain whether the effect will last since a fully immersive metaverse experience is likely still a long way off going by the gap between the initial launch of the iPhone and the availability of apps that fully integrate with the hardware.

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Key takeaways

• The EU finance ministers have unanimously approved the MiCA cryptocurrency regulation.

• The regulation could boost crypto adoption and usage in Europe.

• AltSignals could be a big winner as more retail and institutional traders could enter the crypto market. 

The cryptocurrency market has evolved over the last decade, and many feel that there is more development in store. Following the Bull Run of 2021, regulatory agencies globally have been working to roll out favourable regulations that would ensure consumer protection and promote innovation in the industry.

One of the most important crypto regulations, MiCA, has been approved by finance ministers across Europe. This implies that the regulatory framework could soon be adopted across the continent.

Could this latest development lead to the massive adoption of cryptocurrencies, and what does this mean for trading-focused tokens like AltSignals?

EU finance ministers finally approve MiCA

European Union finance ministers vote unanimously to adopt Europe’s Markets in Crypto-Assets regulation.

MiCA sets clear regulatory guidelines and requirements for using digital currencies and related services and activities across the EU. The legislation covers various areas, including cryptocurrencies, digital assets, stablecoins, and utility tokens. 

Once the bill is passed into law, MiCA is expected to take effect before the end of 2023 or in 2024. 

What Does this mean for the cryptocurrency market?

The adoption of MiCA in Europe could serve as an excellent boost for the cryptocurrency industry in Europe and even beyond. 

Market experts believe that clear regulations would make it easier for industry players to know how to provide services and open the market up to more investors.

Jeremy Allaire, CEO of USDC stablecoin issuer Circle, stated earlier this year that he is optimistic that MiCA will create the conditions for a thriving competitive market in the EU.

The cryptocurrency market is worth over $1 trillion at the moment, down by more than 60% from the all-time high of $3 trillion recorded in November 2023.

With the adoption of MiCA, cryptocurrency adoption in Europe could increase over the coming years and, subsequently, the total capitalisation of the market. 

What is AltSignals?

One of the cryptocurrencies that could benefit from this latest development is AltSignals. AltSignals is a trading platform designed to provide trading signals for stocks, forex, indices, cryptocurrencies, and CFDs. 

The project is still in its presale stage, and the developers have raised nearly 70% of the funds needed to improve their services. AltSignals will be using some of the funds to develop ActualizeAI, a solution that could make it easier for more people to enter the cryptocurrency trading scene. 

AltSignal’s ActualizeAI will be fully automated and work 24/7, just like the cryptocurrency market. With this solution, traders can easily determine entry points in the market, execute more accurate trades, and deploy proper risk management strategies. 

The AltSignals platform is powered by the ASI token. Token holders would be granted access to various services offered by AltSignals. 

Visit the official AltSignals website to learn more about their presale. 

How does MiCA adoption affect AltSignals?

AltSignals could be a big beneficiary of MiCA in Europe thanks to its position as a niche-focused project. 

The lack of clear regulation is one of the reasons some investors, especially institutional investors and traders, are yet to enter the cryptocurrency market.

With MiCA, there would be regulatory clarity in Europe, and more individual and institutional investors and traders could troop into the market. If or when that happens, tools such as AltSignals could play a huge role in ensuring cryptocurrency adoption.

Retail and institutional traders can leverage AltSignals to trade various cryptocurrencies. They could also use the solution to trade other asset classes like forex, commodities and stocks.

The adoption AltSignals could see ASI’s value surge over the next few years. At the moment, AltSignals is still in its presale stage, and ASI is sold for $0.015 per token. The team has raised more than $740k so far and looks likely to hit the $1 million goal soon. 

As a coin with utility, ASI could be one of the biggest winners, especially as the cryptocurrency market could be on the verge of another bull cycle., 

Are cryptocurrencies good investments? 

The results recorded by millions of investors over the past decade already answer this question.

Since the launch of Bitcoin in 2009, no other asset class has outperformed cryptocurrencies. The ROI recorded by cryptocurrencies far outweighs those recorded by stocks and commodities over the past decade. 

Cryptocurrencies like Bitcoin, Ether, Solana, Polygon, Dogecoin, and Shiba Inu, have given early investors thousands of percentages in ROI. 

Keep in mind that we mentioned early investors, as they usually purchase cryptocurrencies when their prices as still low. ASI could also follow this path thanks to its utility as a trading-focused token. 

Is now a good time to buy AltSignals?

This could be a good time to buy promising cryptocurrency projects like AltSignals. If the developers deliver on their promises, AltSignals could have huge adoption within the cryptocurrency trading community. 

The launch of ActualizeAI could help boost AltSignals’ adoption rate, especially amongst crypto traders. If that happens, buying ASI could be an excellent investment, as the utility of the token will increase over time. 

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