Schlagwort: crypto market news

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Market highlights February 2: Cryptos mostly in the green, cruise stocks push US indices up

The crypto markets were in the green this morning, with the majority of the top 10 cryptos registering gains over the past 24 hours.

US indices put a poor January behind them to finish higher yesterday. Cruise stocks Carnival Corp (+5.51%), Norwegian Cruise Line Holdings (+3.7%), and Royal Caribbean (+4.24%) made waves amid changing investor sentiment towards the sector.

The UK100 (+0.35%) finished up yesterday as sentiment turned bullish ahead of the Bank of England’s latest interest rate decision on Thursday.

Top cryptos

Bitcoin remained flat, trading above $38,000 at time of writing. Ethereum and XRP were up around 1% each, and Cardano registered gains of around 2%. Solana and Polkadot were also higher, climbing around 3% and 4%, respectively.

Top movers

Most cryptos outside the top 20 gained or lost 2-4% in the last 24 h. Notable gainers include Internet Computer, which is rallying again, Ethereum Classic, and UNUS SED LEO. Each added 8% to its value today. Render token also continues its rally. It gained 9% in the last 24 h.

Quant is easily the biggest winner of the day. The network launched in June 2018 with the goal of connecting blockchains and networks on a global scale without reducing the efficiency and interoperability of the network. Its native token is up 23% today.

Trending

The cryptocurrency Adventure Gold is rallying today, riding the success of the NFT market and metaverse tokens like MANA and SAND. The native ERC-20 token of the Loot non-fungible token (NFT) project gained 112% in 24 hours.

Another popular coin today is IDEX, which describes itself as the first hybrid liquidity DEX that combines an order book model with an automated market maker. It added around 33% to its value.

The post Market highlights February 2: Cryptos mostly in the green, cruise stocks push US indices up appeared first on Coin Journal.

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Here is the reason why QuickSwap (QUICK) has been rallying for the last two days

QuickSwap price has been rallying for the last two days. This bullish trend is a good start for the month and it is still green.

On January 31, the QUICK price jumped 50%. Yesterday (February 1) it went ahead to register another surge of 168% from $166.40 to a daily high of $250.

At the time of writing, QuickSwap is trading at $194.50 and is up 10.73%. It has hit a high of $231.92 and a low of $175.56 in the last 24 hours; after a slight retracement from yesterday’s high.

But why is the QuickSwap rallying? Let’s see what the rally is all about.

What is QuickSwap (QUICK)?

Before we take a deep dive into the current QuickSwap price movement, it’s important to first explain what it is for those who are coming across it for the first time.

QuickSwap is a decentralized exchange that runs on the Polygon Network to provide cheaper and fast transactions. Its native token is referred to as QUICK.

Why is QuickSwap rallying?

The huge QUICK price surge started immediately after QuickSwap’s partnership with CelsiusX.

The partnership aimed at bridging the gap between centralized finance (CeFi) and decentralized finance (DeFi). It will enable users to have control over their assets in the cryptocurrency ecosystem.

CelsiusX and QuickSwap partnership

The announcement of this partnership was the most significant on the recent development on QuickSwap. The CelciusX banking and financial service platform will help QuickSwap in bridging DeFi and CeFi.

The partnership will also allow for the creation of wrapped versions of the Dogecoin (DOGE) and Cardano’s ADA together with well-funded liquidity pools for assets for users, institutions, arbitrageurs, and bots to easily access the tokens.

ADA and DOGE holders will also be able to use their assets in DeFi to earn yields.

New high yield liquidity pools and NFT projects

The launch of new liquidity pools is also another factor attributed to the surge in QUICK’s price.

The high yield liquidity pools come after several integrated bridges and projects were launched in January on the Polygon Network.

Besides the additional high yield liquidity pools, QuickSwap has also seen additional support for NFT projects which have been gaining momentum amid the weak crypto market.

Some of the newly supported NFTs are OneRare, UniArts, Blockchain Monsters Hunt, and Dogira.

The post Here is the reason why QuickSwap (QUICK) has been rallying for the last two days appeared first on Coin Journal.

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GARI Token making waves in India: Here’s why Garicoin is up 100% in the past week

  • GARI airdrop as the Chingari app is also set to integrate the GARI token on 5 February.
  • Social app Chingari is making it easy for creators and influencers monetize content, giving them a lucrative platform to earn crypto and non-fungible tokens (NFTs)
  • India appeared to recognise crypto with a tax proposal on Tuesday

GARI token, the first social cryptocurrency token in India, has surged more than 100% this past week.

Over the past 24 hours, Garicoin price is up 20% and the GARI/USD pair has seen an intraday volume of $31.8 million according to data from CoinGecko. Daily trading volume is up 78%. GARI is even the top bullish trend on the USDT pair on the crypto exchange Gate.io, with over 160 tweets in the last hour about the token adding to the fact that this coin is hot.

GARI/USDT traded at lows of $0.25 on 24 January but rallied to $0.63 on 1 February 2022. Currently, it trades around $0.62. Its all-time high is $0.78, reached on 18 January 2022.  

Here is a chart of the GARI/USDT pair. Source: TradingView

But what is making the relatively unknown crypto token command such volume and interest from the crypto community?

Why GARI token rallied tenfold this week

The 100% upside seen in the Garicoin token is down to excitement among users of the Chingari App, a top social platform in India with over 32 million active users. 

India has a population of 1.38 billion people, giving the app room for further growth and potential price implication for the GARI token.

The app is powered by the GARI token, which was launched in late 2021 and reportedly moving towards integration into the popular app later this week. An airdrop towards has been ongoing as the launch nears.

The momentum seen in the day could also be down to the crypto community’s reaction to the Indian government’s signal that they may not ban cryptocurrencies after all. This happened as the country sought to introduce a 30% tax on crypto income, including NFTs.

Celebrity ambassador

Since its launch on October 16 last year, the GARI token has carried somewhat of a celebrity aura around. The appearance of Bollywood star Salman Khan and other household names at the launch of the crypto-focused social platform Chingari highlighted it to the crypto community in India.

Over the past two months or so, a growing pool of content creators and influencers seeking to monetize their talent has flocked to the blockchain-based platform, elevating demand for the GARI token.

The growth in NFTs is also a key factor in the increased demand for the coin, with users earning NFTs and monetizing them through features such as play-2-earn.

The post GARI Token making waves in India: Here’s why Garicoin is up 100% in the past week appeared first on Coin Journal.

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Astra Protocol guarantees identity protection to The Sandbox users

Astra Protocol, a cutting-edge legal and compliance layer that brings unmatched assurance to public blockchains, announced that it has set up a Compliance Hub in The Sandbox virtual world, CoinJournal learned from a press release.

The new Compliance Hub will equip metaverse users with a decentralized compliance layer, including Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) capabilities.

Making the metaverse safer for all

With its new Compliance Hub, Astra aims to make the emerging metaverse frontier safer for all participants. The layer resolves on-chain compliance issues using the expertise of trusted legal firms and its patented technology.

Astra has created a unique DLN (Decentralized Legal Network) comprised of all major, global audit and legal firms to make the best KYC/AML services available. The DLN incorporates jurisdictions in almost 200 countries, making sure regulations can be met almost anywhere in the world.

Users can connect to Hub’s DLN, gain accreditation, and more

A wide variety of options are available to metaverse users: connecting to the Compliance Hub’s DLN, obtaining accreditation, and receiving a non-transferrable NFT. The NFT will provide privileged access to otherwise inaccessible special events.

Following user verification, it’s possible to take part in any metaverse event you want without worrying about identity compromise. Astra’s services protect users from malicious or harmful accounts while solving identity issues.

Jez Ali, the founder of Astra Protocol, said:

We are delighted to announce the Astra Protocol’s entry into the metaverse with our first plot in The Sandbox. The future of metaverse development will be a long-lasting and innovative mission which has already shown incredible growth and is an exciting area of Web3. By deploying the first Compliance Hub in the metaverse, we can support this growth by adding a layer of protection for users across the world.

Astra Protocol chose The Sandbox to launch its Compliance Hub because of its fun and desirable locations. The majority of metaverse users turn to The Sandbox for new immersive experiences and ways to interact.

Competition for The Sandbox locations is cutthroat with only 166,464 individual plots of land available.

The post Astra Protocol guarantees identity protection to The Sandbox users appeared first on Coin Journal.

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6 altcoins to watch for a buying opportunity including XRP, UNI, and AAVE: Santiment

  • XRP was last positive in mid-December, Santiment says as they predict a potential upswing for the cryptocurrency.

  • The MVRV ratios for other altcoins like Aave, Uniswap and Compound point to a possible upswing.

Hunting for bargain buys? Looking at the market value to realized value (MVRV) ratio can be a good starting point, Santiment says in its weekly outlook.

“MVRV is a great metric to gauge how deep traders are into pain or euphoria zones,” the firm wrote.

Considering “how much pain” traders have endured over the short-term to long-term timeframes helps to get a clearer picture of opportunities that may lie.

Analysts at the platform have zeroed in on some of the coins likely to be excellent buys.

6 altcoins that could offer a great ‚buy the dip‘ opportunity

Santiment, an on-chain analytics platform tracking the technical and fundamental outlook of most cryptocurrencies, says the above altcoins are among those likely to offer a buying opportunity.

An analysis of the coins, the platform points out, shows they are underbought at the moment and could therefore be an opportunity to those seeking a fresh “buy low” entry point.

XRP

Santiment says XRP’s MVRV is at “its most negative average” level since the end of June last year. According to the firm, XRP last traded in the green on this metric in mid-December and is thus one of the altcoins likely to see a major upswing.

Uniswap (UNI)

Santiment is also positive about Uniswap (UNI), noting in its report that the 30th ranked crypto asset (by market cap) is also posting an average MVRV at its lowest level ever.

The UNI/USD pair is up 6% on the day and Santiment projects a new rally for the markets could see this altcoin recover to recent highs.

Aave (AAVE), Compound (COMP) The Graph (GRT) and Loopring (LRC)

Santiment says traders could reap big from these four other altcoins, which the platform notes have an outlook similar to XRP and Uniswap. The tokens are Aave (AAVE), Compound (COMP), The Graph (GRT), and Loopring (LRC).

Santiment’s average MVRV data shows all these altcoins are in the negative, sitting near all-time lows.

Altcoins bouncing higher

Most cryptocurrencies had a January to forget, with monthly losses reaching into double digits as sell-off pressure intensified across crypto and traditional financial markets.

Several crypto assets have however bounced higher over the past 24 hours as they recoup some of the losses suffered in January. Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Terra (LUNA) are all seeing double-digit gains on the day, while Bitcoin has jumped 7% as bulls eye a break above $39,000.

XRP Network (XRP), Uniswap (UNI) and Aave (AAVE) are also up, with XRP and UNI both 6% in the green and AAVE 11.7% higher. Gains for these coins could see them break above key barriers as the broader market catches a breather.

The post 6 altcoins to watch for a buying opportunity including XRP, UNI, and AAVE: Santiment appeared first on Coin Journal.