Category Archive : Cryptocurrencies

JPMorgan Sees Price Rising 28% As It Backs Crypto

  • JPMorgan said it thinks bitcoin’s fair price is 28% higher than its current level, saying it sees opportunities in crypto markets.
  • Cryptocurrencies have fallen dramatically in 2022 as investors have ditched riskier investments as storm clouds have gathered.
  • But JPMorgan said it sees “upside” for bitcoin and crypto markets more generally after the sell-off, making digital assets a preferred alternative investment.

JPMorgan has said bitcoin’s fair price is 28% higher than…

Read more at markets.businessinsider.com

Cardano Creator Thanks Davos 2022 for ‘Being a Walking Cryptocurrency and Blockchain Advertisement’

On Tuesday (May 24), Charles Hoskinson, who is Co-Founder and CEO of IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano’s research and development, credited Davos 22 for inadvertently promoting blockchain technology and cryptocurrency.

Hoskinson was referring to concerns raised by some prominent members of the crypto community — such as Chinese-Canadian Bitcoin entrepreneur Samson Mow, who announced on April 8 that his new startup JAN3 is working on nation-state Bitcoin adoption (starting with El Salvador) — about certain comments made by speakers at Davos 2022, i.e. this year’s World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.

For instance, Australia’s eSafety Commissioner Julie Inman Grant, talked about “recalibration” of certain human rights, such as “free…

Read more at www.cryptoglobe.com

Can Logarithmic Finance (LOG) Make You a Millionaire Like Solana (SOL) And Ethereum (ETH)?

If you’re like me, you’re always on the lookout for new and innovative ways to make money. And if you’re into cryptocurrencies, you’ve probably heard of Solana (SOL) and Ethereum (ETH). In addition, there is a new coin in town: Logarithmic Finance (LOG) But is LOG all it’s cracked up to be? In this article, I’ll take a closer look at what LOG is and how it could make you rich. Stay tuned.

Logarithmic Finance (LOG) Offers Profit Opportunity to Its Investors

Logarithmic Finance (LOG), one of the new generation swap protocols, manages to attract attention with its excellent infrastructure and roadmap. It is possible to say that this project, which we will get to know more closely in the future, has a high potential with its algorithm built on a solid foundation.

Developed to provide the swap solutions that Web 3.0 technology will need in decentralized finance, Logarithmic Finance (LOG) is based on Layer-III swap technology. Being a very comprehensive project, LOG can perform fast and secure swap transactions that the DeFi world will need. In particular, it supports more than one chain, and all transactions are more efficient as well.

Logarithmic Finance uses a crypto technology called homomorphic encryption. This system, which is one of the innovative technologies, ensures that the transactions are entirely safe. LOG, a candidate to be one of the most secure among the swap systems in the DeFi universe, manages to outperform its alternatives in many aspects, including encryption technology.

Although there are many projects developed in the field of decentralized finance, Logarithmic Finance (LOG) manages to stand out among these projects. It is estimated that this project will be in a much better place in the future with its solid roadmap, innovative solutions it has developed, and the confidence it gives to its investors.

Ethereum (ETH): It Paved the Way for Many DeFi Applications

Ethereum (ETH) is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. It is the second-largest cryptocurrency according to CoinMarketCap after Bitcoin (BTC).

Introduced in 2015, Ethereum (ETH) has since become the leading blockchain platform for Initial Coin Offerings (ICOs), accounting for more than 80% of all ICOs. ETH is also a major player in the rapidly growing field of decentralized finance (DeFi), with over $20 billion worth of…

Read more at www.outlookindia.com

Bitcoin SV Nears Its All-Time Low; Will BSV Correct Further? Latest Blockchain & Cryptocurrency News

Bitcoin SV has constantly declined over the past few weeks and is currently trailing at $52. The token got rejected several times for an uptrend move and has been falling continually. The coin shows remote price movement on the weekly chart as neither the bulls nor the bears could push the price in any direction.

The technical parameters in the longer time frame chart are neutral. The BSV price is very close to its all-time low, even though the bulls tried to push it upwards but failed. The volume candles are favorable towards bears, as the May 09’s weekly candle showed a significant downfall, and the price crossed the trend line but couldn’t close above it.

On the daily chart, the price is moving below the downtrend line, and in the last few days, the bullish candles were formed but couldn’t move up much. The MACD line on the daily chart trades above the Signal Line, denoting a bullish momentum. However, the BSV price should close above the downtrend line to confirm an uptrend move.

The BSV token is moving in consolidated momentum with remote price movement. The bulls are trying to put buying pressure but failed to take the price up. The RSI is at 58, trading in the…

Read more at www.namecoinnews.com

China trials digital yuan CBDC student card to track purchases – Ledger Insights

Yesterday the Chinese press reported the rollout of the digital RMB smart student ID card at the Hainan Lu Xun Middle School. This is the latest application of China’s central bank digital currency (CBDC), the digital yuan or eCNY. In January, the digital currency was widely used during the Winter Olympics, and recently pilots were extended to additional regions.

In reality the solution is a mobile SIM card rather than a payment card. Smartphones are banned from lower and middle schools in China, so the ID card is a mobile SIM in a feature phone with multiple functions beyond payments. It was developed by China’s biggest bank, ICBC, in conjunction with China Mobile. 

The phone supports NFC for payments and identity and GPS to enable the child’s location to be tracked. Additionally, up to three family numbers can be programmed for speed dialing.

For payments, the child can use the card on the school’s campus, but the school can also authorize it for use with a list of off-campus merchants. Parents get to view the child’s payments made with the digital RMB smart student ID card and they can also top up the digital currency balance.

On the one…

Read more at www.ledgerinsights.com

Is Calyx Token (CLX)’s Future as Bright as Solana (SOL) and Cardano (ADA)? – CryptoMode

In this day and age financial freedom is easier to achieve than ever before and cryptocurrency is one of the many ways people have been doing it. Do not miss out on this opportunity!

The Current Landscape Of The Market

Despite the volatility of digital finance assets, these continue to be the preferred alternative to real-life currencies and other investments and crypto continues to attract many investors every day.

Lately, there has been a lot of buzz around Calyx Token (CLX) and its potential to become a top player in the cryptocurrency space. 

But is CLX’s future really as bright as Solana (SOL) and Cardano (ADA)? In this blog post, we’ll take a closer look at these three cryptocurrencies and see how they stack up against each other. Stay tuned.

Upgrade Your Wallet With These Coins

Calyx Token (CLX)

Calyx Token (CLX) was launched to provide secure token exchange at the best…

Read more at cryptomode.com

Gnox (GNOX) is ready to battle the Crypto Goliaths Ethereum (ETH), Avalanche (AVA) and Solana (SOL)

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Gnox is stepping into the ring to do battle with the established crypto goliaths. All have heard of what happened to the Philistine giant Goliath when faced by David the young boy who cast a stone striking the giant dead. Gnox will be the project to do what everyone thought was impossible. 

Ethereum (ETH) 

Ethereum (ETH) is the second largest cryptocurrency by market cap currently over $250 billion. Ethereum is seen as being responsible for launching the DeFi space with its ability to execute smart contracts leading to the development of Dapps (Decentralised Applications). Ethereum is a household name and was developed in 2015 by Vitalik Buterin a Russian born Canadian programmer. The significance of Ethereum cannot be understated, it has allowed for the development of peer-to-contract interactions laying the entire foundation for the DeFi space.

Avalanche (AVAX)

Avax is the native token of the Avalanche blockchain, a layer 1 protocol, that set out to solve the typical trilemma of scalability, security, and decentralisation with its innovative PoS (Proof of Stake) consensus mechanism. It is EVM (Ethereum Virtual Machine) compatible and thus can execute smart contracts. Avax is the token used to power the ecosystem, facilitate transactions, and distribute network rewards. Avalanche features popular DEXs (Decentralised Exchanges) such as TraderJoe and has a current market cap of nearly $9 billion. 

Solana (SOL)

Sol the native token of the Solana network. Solana hailed as an Ethereum killer was created in 2017 by Anatoly Yakovenko and aimed primarily to solve the issue of scalability by offering incredible throughput of transactions per second (TPS) all whilst keeping transactional costs low. With a market cap north of $18 billion it is in the top 10 cryptocurrencies when ranked by total market capitalisation. The Solana network represents a departure in tradition for layer 1 protocols, it established its blockchain with a unique programmable language setting itself up to challenge the authority and long-standing reign of Ethereum and solidity. 

Gnox (GNOX)

Gnox is the first protocol to offer yield farming as a service. The project has been custom-built to reward long term investors through the introduction of buy and sell taxes which are utilised to form a treasury. This treasury is then…

Read more at cryptonews.com

Bitcoin Dormant at $30K While Ethereum Classic (ETC) Pumps 10%: Market Watch

Bitcoin recovered most losses from yesterday’s dip below $29,000 but failed at $30,000 once again. The altcoins have continued to trade sideways with a few notable moves in either direction. Ethereum Classic stands out as the most significant gainer.

Bitcoin Back Below $30K

The primary cryptocurrency has had its issues with the coveted $30,000 line for over a week now. It made several attempts to overcome that line but was met with rejection every single time, which pushed it south by up to a few thousand dollars almost immediately.

The latest such example came earlier this week when BTC pumped to $30,600. The same scenario followed, and the asset plummeted by precisely $2,000 to a low of $28,600.

Nevertheless, the bulls stepped up and drove it upwards once again. For a brief moment, BTC surpassed $30,000 once again but now stands just under it.

As such, its market capitalization has gone back down to $565 billion, while the dominance over the altcoins has increased slightly to 44.7% on CoinMarketCap.

BTCUSD. Source: TradingView

ETC Stands Out

The altcoins have calmed as well recently. Ethereum, for example, has followed bitcoin’s price movements to a large extent. ETH’s major line that it fails to overcome decisively is $2,000.

It jumped above that level two days ago but dipped below it yesterday and has remained there now as well after a minor daily retracement. Ripple, Cardano, Solana, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.

Binance Coin has sustained above $330 following a minor increase. Tron has jumped the most from the larger-cap altcoins, with a 4.4% pump to $0.08.

While most lower- and mid-cap altcoins are in the red as well, Ethereum Classic has defied the odds with a 10% increase in a day. Consequently, ETC now stands close to $25. The crypto market cap has stalled below $1.3 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Research PrimeXBT: Bitcoin (BTC) Exchange Rate Forecast from the Experts

The
Bitcoin exchange rate (BTCUSD) continues to hold at support at around $30,000,
despite considerable downward pressure from sellers in panic.

The
primary driver of negative sentiment and pressure on the top cryptocurrency by
market cap is due to the hawkish monetary positioning the Federal Reserve is
preparing, as well as the conflict in Ukraine.

The crypto market was further sent into panic following the collapse of the stablecoin UST and related altcoin LUNA. Prices of LUNA fell to zero, and this further crushed any chance of bullish sentiment in the crypto market among the crowd.

Even with all the negativity, experts from the business world, trading, finance, and more, have all come to the defense of Bitcoin, reiterating its undeniable promise and their commitment to seeing the cryptocurrency through to the end.

This hope keeps overall positive market sentiment alive just enough with influential figures who command the attention and respect of large followings, companies, and capital. As such, PrimeXBT analysts have compared the expectations of some of the most prominent investors and public-facing personalities regarding the future prospects of Bitcoin price appreciation.

Read more at www.forexlive.com

Cathie Wood Continues To Show Faith In Bitcoin, Ethereum: Loads Up On 2 Crypto-Linked Stocks

Cathie Wood-led Ark Investment Management on Tuesday scooped up more shares in cryptocurrency-linked companies Coinbase Global Inc COIN and Block Inc SQ on the dip.  

The popular money manager bought 51,049 shares, estimated to be worth $3.13 million, in Coinbase.

Shares of the cryptocurrency exchange platform closed 7.2% lower to $61.4 on Tuesday. The stock is down 75.5% year-to-date.

The Nasdaq-listed Coinbase on Monday became the first cryptocurrency company to enter the Fortune 500 list, a ranking of the biggest U.S. companies by revenue.

Coinbase allows the trading of cryptocurrencies such Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD.

Bitcoin, the largest digital token, was on the rise at press time as stock futures rebounded after the tech-heavy Nasdaq seeing a bloodbath on Tuesday. The apex coin traded 1.8% higher over 24 hours at $29,635.72.

See Also: Cathie Wood Puts In Another $29M In Coinbase, Showing Conviction In Crypto Stock Amid Sell-Off

Ark Invest owns shares in Coinbase via three of six actively traded ETFs: the Ark Innovation ETF ARKK, the Ark Fintech Innovation ETF ARKF, and the Ark Next Generation Internet ETF ARKW.

The three ETFs held 7.83 million shares, worth $518 million, in Coinbase prior to Tuesday’s trade.

Ark Invest also scooped up 31,524 shares, estimated to be worth $16.8 million, in the Jack Dorsey-led financial services and digital payments company Block. 

Block shares closed 9% lower at $75.8 on Tuesday and are down 53.7% year-to-date.

Ark Invest held 8 million shares, worth $667.8 million, in Block, prior to Tuesday’s trade. 

Read more at www.benzinga.com