Autor Cointelegraph By Jordan Finneseth

Ecosystem expansion and $45M funding round boost Boba Network (BOBA) price by 30%

Ecosystem expansion and $45M funding round boost Boba Network (BOBA) price by 30%

Uverejnil používateľ | apr 5, 2022 |

The institutional adoption of cryptocurrencies has been gaining momentum over the past couple of years due to venture capitalists and money managers looking to the crypto market as the next investment class that will offer the greatest return. The Boba Network (BOBA) is the most recent protocol to benefit from institutional interest and the long search for an Ethereum (ETH) layer-two scaling solution capable of low-cost transactions and fast processing times. Data from Cointelegraph Markets Pro and TradingView shows that BOBA has gained 50.71% over the past week and a half after climbing from a low of $1.24 on March 27 to a daily high at $1.873 on April 5. BOBA/USDT 4-hour chart. Source: TradingViewThree reasons for the climbing price of BOBA include the completion of a $45 million Series A funding round, the launch of the WAGMI v2 incentives program and the expansion of the launch of new protocols on the network.Boba gets a boost from a $45 million funding roundThe most recent development providing a boost to the Boba Network was the successful completion of a $45 million Series A funding round, which was announced on April 5. Nearly 400 participants participated in the fundraiser including the venture capitalist firms Infinite Capital, Hypersphere, 10X Capital, Hack VC and Dreamers VC. More crypto-focused projects like The Graph, FEI Labs, Crypto.com and Huobi also participated in the funding round. The Boba Network currently has a $1.5 billion valuation and the team plans to use the funds to help make cryptocurrencies more accessible to the general public, overcome the computational limitations of Ethereum and provide blockchain developers with the tools needed to build new products. WAGMI v2 incentive programAnother factor helping to bring increased activity and attention to the Boba Network was the launch of the WAGMI v2 incentive program, which is designed to help improve BOBA liquidity mining, grow the ecosystem and attract developers. WAGMI offers rewards to active users in the Boba Network ecosystem as a way to help increase the overall transaction count on the network as well as offering application-specific reward pools meant to bring more attention to the best DApps on the network. This second round of WAGMI began on April 1 and will run through the end of the month and includes up to $3 million worth of BOBA as rewards. Two million dollars of the amount is reserved for liquidity providers and there is a $1 million bonus incentive if the total monthly trading volume on OolongSwap reaches $25 million. Related: Ethereum L2 Boba Network valued at $1.5B following Series AEcosystem growth boosts TVLA third factor helping to boost the valuation of the Boba Network has been its expanding ecosystem of protocols and DApps. This includes nonfungible token projects like Tapioca Town and Turing Town, decentralized finance protocols Symbiosis and Boba Brewery and integrations with the Pocket Network and The Graph. Unique Boba bridge users. Source: Dune AnalyticsAccording to data from Dune Analytics, 5,089 unique wallets have now interacted with the Boba Bridge, which currently has a total value locked at $712 million. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Signs of Bitcoin accumulation suggest BTC’s dip to $45K will be short-lived

Signs of Bitcoin accumulation suggest BTC’s dip to $45K will be short-lived

Uverejnil používateľ | apr 4, 2022 |

The cryptocurrency market rally that began on April 1 ran into tough resistance on April 4, sparking a market-wide pullback during the afternoon session after exhausted bulls were overwhelmed by bears who managed to push Bitcoin (BTC) below $45,200. Data from Cointelegraph Markets Pro and TradingView shows that once the afternoon sell-off broke below support at $46,000, the price of BTC hit a daily low of $45,133 before buyers emerged to bid it back above $45,700. BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying about the short-term outlook for Bitcoin and what could be in store moving forward in April. Flipping resistance into supportApril 4’s weakness on the Bitcoin chart was spotted early by crypto trader and pseudonymous Twitter user ShardiB2, who posted the following chart noting that its price was “starting to reverse” with the 4-hour candle coming close to the bottom of the channel. BTC/USD 4-hour chart. Source: TwitterThe trader said, “Could we slip to $44,300? Possibly, but if we do, I [don’t] think it gets any deeper, the ONLY thing that is concerning is maybe tax selling, saw some last year…”A more general explanation of the current price action was offered by on-chain data analyst Matthew Hyland, who posted the following chart outlining the major support and resistance levels for BTC in its current price range. BTC/USD 1-day chart. Source: TwitterHyland said, “Bitcoin is trying to flip previous resistance into new support.”Signs of heavy accumulationInsight into which players in the market have been most actively accumulating Bitcoin lately was discussed in the most recent newsletter from on-chain analysis firm Glassnode, which noted that “shrimp and whales are the most aggressive accumulators of late.” On the whale side, Glassnode pointed to “large public buyers such as the Luna Foundation Guard and MicroStrategy,” which have renewed their “emphasis on Bitcoin as pristine collateral” and “have commenced serious accumulation over the last two weeks.”This whale accumulation can be seen in the red highlighted box on the following chart while smaller buyers “have been the heavy accumulators since late-Jan., with the smaller balances (

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Opulous (OPUL) price soars after DeFi staking announcement, S-NFT sale and CEX listings

Opulous (OPUL) price soars after DeFi staking announcement, S-NFT sale and CEX listings

Uverejnil používateľ | apr 4, 2022 |

Non-profile picture (PFP) NFTs had been cooling down over the past few months but now that Bitcoin and Ethereum have turned bullish again, altcoins and NFT-focused tokens are beginning to follow.Music NFTs are one sector of the ecosystem that is showing bullish signs this week, and Opulous (OPUL) protocol was the breakout star of the day. Opulous aims to bring aspects of decentralized finance (DeFi) to the music industry and also change how artists access funding. Data from Cointelegraph Markets Pro and TradingView shows that the price of OPUL has climbed 260% since hitting a low of $0.287 on March 18 to hit a daily high of $1.04 on April 4 amid a 415% spike in its 24-hour trading volume. OPUL/USDT 4-hour chart. Source: TradingViewThree reasons for the price turnaround in OPUL include the completion of its latest security NFT (S-NFT) sale, new exchange listings and the upcoming launch of liquidity pools for OPUL on multiple Algorand-based DeFi protocols.The first S-NFT sale is a successThe biggest driver of interest in OPUL over the past couple of weeks was the launch of its latest S-NFT sale for the song “Patek Myself” by the U.K. rap artist Ard Adz. The S-NFT sale occurred on March 31 and took less than 45 minutes to sell out and reach its goal of raising $50,000, with data from WeFunder showing the sale was oversubscribed and managed to raise $66,900. Since the sale, the team at Opulous revealed that the next major announcement from the project will be revealed this week and will involve an S-NFT sale for an entire music album. Huge announcement coming NEXT WEEK. Our next NFT will be for an ENTIRE ALBUM #OPULSEASON is just getting started Can YOU guess who it is? Let us know in the comments $OPUL pic.twitter.com/nQ0z0cl6mV— Opulous (@opulousapp) April 2, 2022DeFi staking is on the wayAnother factor helping to boost the price of Opulous are plans to list OPUL on several DeFi protocols in the Algorand (ALGO) ecosystem.Pact, an Algorand-based automated market maker, has already established two liquidity pools for OPUL that are paired with ALGO and USD Coin (USDC) and it recently announced a campaign in conjunction with the Algorand Foundation that will distribute 1 million ALGO tokens to its supported pools between April 8 and June 2.Opulous has also revealed that new staking pools will be coming to the Algorand DeFi hub, AlgoFi, beginning on April 5. Our new $OPUL staking pool with @algofiorg opens TOMORROW Lots of the #OPULFAM have been asking for this one Stake $OPUL to earn more $OPUL #OPULSEASON $ALGO pic.twitter.com/l4844D5MeX— Opulous (@opulousapp) April 4, 2022

Related: Record music streaming profits highlight how NFTs will empower content creatorsOPUL lists on centralized exchangesOPUL has also recently listed to a few centralized exchanges, including HotBit and LAToken. After the March 30 listing announcement for LAToken, the project teased that another exchange listing would be “coming next week,” indicating the potential for further price appreciation. In addition to these new exchange listings, the OPUL staking pool on KuCoin has increased its capacity to 5 million OPUL, increased the available lockup time to 60-days and now offers an APY of 30%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin recovers the $46K level, but several factors could prevent a stronger breakout

Bitcoin recovers the $46K level, but several factors could prevent a stronger breakout

Uverejnil používateľ | apr 1, 2022 |

After dropping below $45,000 on March 31, Bitcoin (BTC) surprised investors with a quicker-than-expected recovery to the $46,500 level.Data from Cointelegraph Markets Pro and TradingView shows that bears managed to drop BTC to an overnight low of $44,210 before bulls showed up in force to lift the price back above $46,500 by midday. BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying about the short-term outlook for Bitcoin moving forward and what developments could present headwinds for the top cryptocurrency as a new month gets underway.The macro environment continues to impact BTC priceEvents in the global financial market continue to have a large impact on cryptocurrency markets and are likely to continue to do so for the foreseeable future. According to Macro Hive CEO Bilal Hafeez, “currently macro is dominating Bitcoin” as evidenced by the “last few days of equity weakness” that “has also led to Bitcoin declines.”Hafeez also pointed to higher interest rates in the United States, a more hawkish Fed and weakness in the Chinese markets as reasons for the current volatility in equities markets.While these macro events continue to weigh on financial markets, Macro Hive noted that there are signs of hope in Bitcoin-specific metrics. Hafeez said, “Bitcoin-specific dynamics are bullish with renewed exchange-traded fund (ETF) inflows, open interest rising and HODLers accumulating.”Traders are waiting to break above $48,000The pullback in BTC price over the past 24-hours was somewhat expected, according to David Lifchitz, managing partner and chief investment officer at ExoAlpha. Lifchitz pointed to Bitcoin’s “seven-day win streak” and tend-of-the-quarter activity from institutional investors as contributing to the decline. Despite the pullback on March 31, Lifchitz indicated that “the upside support trendline from March 21 remains intact,” and will likely hold as support moving forward barring “a revisit of the low $40,000s in the next couple of days.” “Wildcards” identified by Lifchitz that could affect this outlook include “the situation in Ukraine, the EU financial commission going after crypto with a vengeance and the Mt. Gox liquidation that could come any day.”Lifchitz said, “A break above $48,000, then $51,000 is what the bulls are looking for, so we’ll see if they are served next week (new quarter = potential for new institutional inflows.”Related: Just 2 million Bitcoin left: Bitcoin hits the 19 million milestoneBTC is at the end of a major corrective periodA final bit of reassurance was provided by market analyst Will Clemente, who posted the following chart noting the “pretty clean reaction from BTC so far on this pullback.”BTC/USDT 1-day chart. Source: TwitterThe significance of April 1’s bounce was succinctly summarized by market analyst and pseudonymous Twitter user PlanC.The 128-Day SMA is currently at $43,972. #BitcoinWe broke it and than on this pullback #BTC bounced hard at $44,200. In all previous cycles (5/5 times), a break of the 128-Day SMA signalled the major corrective / accumulation periods were finished. #Crypto— Plan©️ (@TheRealPlanC) April 1, 2022The overall cryptocurrency market cap now stands at $2.137 trillion and Bitcoin’s dominance rate is 41.1%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Astar (ASTR) price doubles as the network prepares to add 15 new projects in April

Astar (ASTR) price doubles as the network prepares to add 15 new projects in April

Uverejnil používateľ | apr 1, 2022 |

Following the successful completion of its initial parachain auctions, the Polkadot (DOT) ecosystem has begun to gain traction with the cryptocurrency community as the first chains begin to come online and integrate with Ethereum (ETH). Astar (ASTR) is one such Polkadot-based project that finished off the month of March on a hot streak after the multi-chain smart contract platform attracted the attention of retail and institutional crypto investors. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.107 on March 22, the price of ASTR has climbed 104% to a daily high at $0.208 on April 1 as demand for the token increased 20-fold. ASTR/USDT 4-hour chart. Source: TradingViewThree reasons for the rally include the completion of a $22 million funding round, the expansion of the Astar ecosystem through protocol launches and partnerships, and an increase in users and total value locked on the Astar network. Institutional investors pile inThe development that helped kickstart the progress Astar has made in 2022 was the successful completion of a $22 million fundraising round on Jan. 28.Participants of the fundraiser included Polychain, Alameda Research, Alchemy Ventures, Crypto.com Capital and Digital Finance Group, along with multiple angel investors such as Dr. Gavin Wood, Richard Ma and Keisuke Honda.The fundraise followed the mainnet launch of Astar on Jan. 17 and will be used to help develop the Astar ecosystem to support both Ethereum Virtual Machine (EVM) and WebAssembly, allowing developers to deploy existing Solidity contracts as well as Polkadot native smart contracts. The Astar ecosystem expandsIn the months since launching its mainnet, Astar has seen multiple projects launch on its network and is anticipating the addition of even more in April. Astar Season is coming Welcome to new friends just joining on @AstarNetwork in early April#Polkadot #Astar #cryptonews #blockchain #giveaway pic.twitter.com/6f1IPFa2DU— Polkadot Nation (@PolkadotNation) April 1, 2022The project is referring to the month of April as “Astar Season” because it has plans to launch at least 15 new projects on the network as part of its push to attract new users. Upcoming launches include decentralized finance (DeFi) protocols such as Avault and Alnari Finance, the gaming protocol Astar Farms and the AstridDAO and ADAO decentralized autonomous organizations (DAOs). Astar has also recently revealed a new partnership with Oasys, a layer-one blockchain built for game developers.Related: Web3: Onboarding the next billion users — The road aheadNetwork TVL soarsA third factor propelling the momentum for Astar has been the inflow of new users to the ecosystem, which now has more than 100,000 unique wallet addresses. Another day, another milestone Feeling excited about all the growth we are seeing on Astar Network! pic.twitter.com/mGUTcb4Gb4— Astar Network | WASM + EVM HUB on Polkadot (@AstarNetwork) March 29, 2022

As a result of the inflow of new users and the launch of multiple projects on the network, the total value locked on Astar hit a new all-time high of $1.16 billion on April 1, according to data from Defi Llama. Total value locked on the Astar Network. Source: Defi LlamaThe recent growth has given Astar the largest TVL of all the Polkadot parachains and helped it to become the eighth-ranked EVM-compatible chain by TVL. $1.3B in TVL. No. 8 EVM Blockhain. LFG pic.twitter.com/RNH5pLs1fm— Astar Network | WASM + EVM HUB on Polkadot (@AstarNetwork) April 1, 2022

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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