Altcoins

Coinbase Ignites Crypto Rallies After Listing Several Altcoins Built on Ethereum and Solana

A decentralized media-sharing ecosystem built on Solana (SOL), plus several altcoins built on Ethereum (ETH) are surging after being added to top US crypto exchange Coinbase’s roster of digital assets. In an announcement, Coinbase says Media Network (MEDIA) and four other cryptocurrencies will start trading paired with Tether (USDT) once appropriate liquidity conditions are met. […]

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Altcoins

One Low-Cap Altcoin Skyrockets by More Than 140% in Just One Week As Crypto Markets Rebound

A low-cap altcoin is erupting in the last seven days as the broader crypto markets flash signs of strength toward the end of the week. STORJ, the native asset of Storj, a decentralized protocol designed to provide an end-to-end encrypted cloud storage platform, has more than doubled its value in just one week. From a […]

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Storj (STORJ) – A Relatively Unheard Crypto – Leads Gainers With 30% Rally

The price of STORJ (pronounced “storage”) has increased by a little over 30 percent in the last 24 hours. According to CoinMarketCap, STORJ, an ETH token, is the 88th largest coin by market capitalization. The token experienced a significant increase thanks to the NFT update on Friday. STORJ reached an all-time high of $0.97, a 43 percent rise from its 24-hour low. Currently, the coin is selling at $0.9273, an increase of a remarkable 30.73 percent in the last 24 hours, according to statistics from CoinMarketCap. Additionally, its market capitalization soared from $245 million the day before to $371 million as of today. STORJ is a platform for shared cloud storage. Instead of sending files to massive data centers, users can just store them in independent computers of the host. STORJ Gets Strong Backing Two requirements must be met to qualify as a host: a solid and speedy internet connection and terabytes of storage space. Users can make money by storing the files of others on their computers. An announcement about major businesses embracing STORJ to store unique tickets, music, sports NFT assets, and gaming caused a sharp increase in the token’s price. Europa Labs, Amuzed, and Ultimate Division are the company’s newest NFT customers. Suggested Reading | Top 5 Cryptos Taking A Major Beating In The Ongoing Market Mayhem Crypto total market cap at $941 billion on the daily chart | Source: TradingView.com Amuzed is a blockchain-based music gaming platform that allows users to listen to their favorite artists’ music using NFTs. Ultimate provides participants with a soccer-themed metaverse game in which they can earn Ultimate Division Tokens (TKDS), whereas Europa Labs wants to improve the computational capabilities of clients on their preferred data platforms. Suggested Reading | Cosmos (ATOM) Price Swells 12% – Can It Breach Resistance? Green Candles Show Bullish Potential Similarly, 24-hour trading volume for STORJ has surged by more than 100 percent, reaching $408,455,560 – an increase of 127.94 percent. Examining the STORJ/USDT daily chart, the price of STORJ has displayed green candles since June 13. This trend persisted with small retracements on the daily chart until Friday, when the token recorded its highest green candle of the move. In the last 10 days, the price of the asset has increased by 130 percent, from $0.4005 to its current level of $0.80. It remains to be seen whether the relatively unheard crypto will be able to sustain this growth in the future or if it will be just another “one-hit” wonder. Featured image from CyberBump, chart from TradingView.com

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Are Small Cap Crypto Assets Rebounding A Sign Risk Appetite Returning?

The crypto market just saw some slight recovery, but the performances are upside down. Opposite to the way sellouts usually play out, the Bitcoin dominance dropped dramatically as the asset is underperforming the Small Cap index. From last November’s $3 trillion market cap, the crypto market is now down to around $800 billion: Smaller Altcoins Make A Strong Comeback Last week the crypto market saw its bottom, followed now by some slight recovery. As per Arcane Research’s latest weekly report, the smaller altcoins have also been seeing red numbers with the Small Cap index shedding 27%, but it has been the best performer overall. In contrast, Bitcoin had dropped 35%. Through this small window of relief during June, we have seen the blue-chip coin underperform all other indexes. As a result, BTC’s dominance in the market fell -1,51% this week to 43,5% while Ether fell -0,31. The latter has been declining since May from 19.5% to 15%. What’s Making This Crypto Winter Colder The report notes that the primary driver of this crypto crash has been the hedge fund Three Arrow Capital (3AC) collapse. Having invested over $200 million in Luna Foundation Guard’s token sale, 3AC’s liquidity ended up being wiped out and its margin call was the last straw for the already pressured market. Related Reading | How Long Will The CryptoWinter Last? Cardano Founder Provides Answers As per the Wall Street Journal, the crypto hedge fund hired legal and financial advisers to help work out a solution for its investors and lenders. The firm is looking for a way out, “including asset sales and a rescue by another firm”. The prognostic is not very positive at the moment, seeing the wave of liquidations and mitigations of losses by crypto exchanges that have followed the collapse. “We were not the first to get hit…This has been all part of the same contagion that has affected many other firms,” Kyle Davies, 3AC’s co-founder, said in an interview. Arcane Research explained that “In periods of insolvency, creditors unwind the most liquid assets first, which is likely the root cause of BTC and ETH’s relative underperformance in the last week.” The report adds that “illiquid altcoins are more challenging to sell at size, particularly during pressuring times, which explains why smaller coins have experienced less excessive selling pressure in the last week”. Meanwhile, Microstrategy CEO Michael Saylor described the events around this winter as a “parade of horribles” in which the consequences of lack of regulation in the crypto field have made it possible for wash trading and cross-collateralized altcoins to weigh down on Bitcoin. “What you have is a $400 billion cloud of opaque, unregistered securities trading without full and fair disclosure, and they are all cross-collateralized with Bitcoin.” “The general public shouldn’t be buying unregistered securities from wildcat bankers that may or may not be there next Thursday,” Saylor added, slamming at the recent collapses and suggesting that future actions by regulators could prevent the level of volatility that BTC is now experiencing. Related Reading | Crypto Investors Find Safety In Stablecoins, Bitcoin, Ditch Altcoins En Masse

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Coinbase Triggers 107% Altcoin Explosion After Listing Slew of Ethereum-Based Crypto Assets

One decentralized finance (DeFi) altcoin is surging after being added to top US crypto exchange Coinbase’s roster of digital assets. Coinbase says DeFi Yield Protocol (DYP) and five other Ethereum-based altcoins will start trading paired with Tether (USDT) once appropriate liquidity conditions are met. DeFi Yield Protocol aims to offer users the ability to stake […]

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Bitcoin Crypto News

Bitcoin Steady Above $20K After Drop To $17K – A Slow Climb To Green?

After a weekend in which Bitcoin (BTC) experienced realized losses to the tune of $7.3 billion, the largest cryptocurrency has erased all weekend losses and is up over 8 percent to $21,206 in the last 24 hours. Bitcoin has risen almost 22 percent since Saturday’s low of $17,592, and is currently trading around $21,000. The BTC price increased more than 4 percent to $20,882, Coin Metrics data showed Tuesday. Over the weekend, Bitcoin reached a low of $17,959. It had not been lower since December 2020. On Wednesday, Bitcoin climbed after a slew of negative sentiments had lifted the cryptocurrency to a new 2022 low over the weekend. Suggested Reading | Dogecoin Price Jumps As Elon Musk Reiterates Support For Meme Crypto At Qatar Forum Bitcoin Market Selling Pressure Heavy liquidations in the cryptocurrency market dropped Bitcoin’s price below its all-time high in 2017, placing a heavy load on the whole cryptocurrency industry. The broader cryptocurrency market did not anticipate such a sharp decline, especially below the “unbreakable” $19,000 support, but the cryptocurrency has, as is occasionally the case, breached the $20,000 barrier. Image: Crypto Academy The price actions are a response to the negative press surrounding the bitcoin sector, which began with pressure from macroeconomic forces. As this developed, the United States Federal Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point, the largest increase since 1994. Too Early For A Major Turnaround “This recovery takes out some of the extreme oversold aspect of the cryptocurrency,” Alex Kuptsikevich, a senior market strategist at FxPro, pointed out. “However, it is too soon to speak of a long-term turnaround: all unfavorable fundamentals remain in place,” he continued. Crypto total market cap at $881 billion on the daily chart | Source: TradingView.com The surprising rebound was also largely caused by a lack of selling activity on centralized exchanges, since the vast majority of institutional and individual investors gave up during the weekend trading session, when the Bitcoin network suffered $7 billion in losses. Similarly to stock investors, crypto investors are treading carefully in the face of bear market rallies, with some expecting the asset class would decline further before experiencing a substantial recovery. Suggested Reading | Celsius (CEL) Price Scorches To 130% Rally Despite Frozen Network Accounts Craig Erlam, a senior market analyst at Oanda, cautions against growing too comfortable with market gains, despite minor recovery in traditional markets following the Juneteenth holiday market closures on Monday. Erlam stated in a newsletter, “Everyone is looking for the bottom, but there’s a tremendous cloud of uncertainty over the forecast and the data has not yet shown any good indicators.” Featured image from Panorama Summit, chart from TradingView.com

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ChainAPI rolls out Airnode integration service to enable no-code web3 deployment for data providers

ChainAPI, a value-add service to first-party blockchain oracle solution API3’s Airnode, today announced the launch of its no-code Airnode integration service enabling API providers to seamlessly self-integrate and deploy first-party oracles within the broader blockchain space. While existing oracle solutions traditionally involve intermediaries to support the onboarding and deployment of oracles into the blockchain ecosystem, […]

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Crypto News

Blockchain is the Solution to Recycling

For a long time, improper waste management has been polluting oceans and landfill sites with plastic that will never break down. The waste to water ratio of water bodies is devastatingly alarming. In turn, this is having a detrimental impact on marine life. It is no secret that our planet is in trouble. We’re facing a climate crisis, and a big part of the problem is the amount of waste that’s clogging up our landfills and oceans. This kind of pollution can cause entanglement, suffocation, and ingestion of toxic chemicals by wildlife. It is estimated that 100M marine animals and turtles die each year. In addition to the harm caused to wildlife, it also negatively impacts our own health. It has become apparent that plastic is a major source of pollution in our oceans, land, and food. Most people don’t realize that the plastic they’re throwing away will never break down. It will sit in landfills and eventually make its way into the ocean, harming sea life and wildlife. The Solution to the Problem There is a lot of activity and talk in the blogosphere around solutions to the plastic problem that is being faced worldwide. Most of these solutions are generic for the most part, and do not give a clear picture of what is happening with plastic waste in each country. Yet, there are some interesting solutions on how we can eliminate plastic from our lives. Plastisks is a green startup that is creating a blockchain-based global recycling platform. It has the potential to facilitate the process by making it easier to recycle plastic, where we can track where our materials go and make sure it’s being recycled properly. This would reduce the amount of contamination caused by plastic and help to protect our planet. The company has made a simple, smart-manufacturing platform to capture plastic waste, filter out contaminants, and reshape it. Artists and companies that are committed to the environment can join the platform to create a profile to show their commitment. Plastisks is building a recycler network based on a mobile app called Valora. The platform manages the entire recycling process, from sourcing and sorting, to recycling and reshaping.. In addition, it allows every stakeholder to show their commitment to increase plastic recovery and recycling. Plastic waste is a big problem in our oceans, and the only way to keep track of it is by tracing the waste that has been generated. With the crisis oceans are facing, IBM has now joined hands with The Plastic Bank to help monetize ocean plastic and create a blockchain based application and IBM Cloud to help end the ocean plastics issue. Here, you can earn rewards for recycling, with The Plastic Bank already having contributed to the recycling of over 2 billion bottles. The initiative is helping to combat plastic pollution by providing an incentive for people to recycle instead of throwing it away. This new system is a great example of how blockchain technology can help make a real impact in the world. Is Recycling the Way to go? If more people are encouraged to recycle, then we can start to make a dent in the amount of plastic waste that’s plaguing our planet. Plastic is a substance that can be recycled over and over again, so it’s important to encourage people to recycle. We can help to reduce pollution and preserve our planet for future generations. To keep up to date with all things Plastiks: Website | Twitter | Instagram | Medium | Discord  

Altcoins

Little-Known Altcoin Built on Ethereum Explodes 407% As Coinbase Adds It to Listing Roadmap

One decentralized finance (DeFi) altcoin is surging as top US crypto exchange Coinbase puts four new crypto assets on the path to joining its roster. In an announcement, Coinbase says it plans to add DeFi Yield Protocol (DYP), along with three other altcoins to the trading platform in the future. Assets added to the roadmap […]

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