Autor Cointelegraph By Jordan Finneseth

TerraUSD (UST) adoption backs LUNA’s ascension to a new all-time high

TerraUSD (UST) adoption backs LUNA’s ascension to a new all-time high

Uverejnil používateľ | dec 8, 2021 |

Stablecoins are an integral part of the the centralized crypto sector and the decentralized finance (DeFi) ecosystems that have sprung up over the course of the past few years because they provide the liquidity needed for traders to easily swap into different assets. They also serve as a shelter against strong downside swings like the 25% correction seen on Dec. 3.One project with a stablecoin component that has seen its price surge to a new all-time highs despite the wider market pullback is Terra (LUNA), a multi-sector blockchain protocol aimed at building a global payments system through the use of a fiat-pegged stablecoin called TerraUSD (UST). Data from Cointelegraph Markets Pro and TradingView shows since hitting a low of $37.86 on Nov. 26, the price of LUNA has surged 106% to a new all-time high at $78.43 on Dec. 5 as its 24-hour trading volume spiked to a record $5.66 billion. LUNA/USDT 4-hour chart. Source: TradingViewThree reasons for the breakout in LUNA price include the increasing supply of UST, a series of new cross-chain integrations for the Terra ecosystem and a surging total value locked (TVL) on the Terra network. UST supply hits a new all-time highOne of the main drivers behind the strength seen in LUNA has been the rapid growth of the circulating supply of UST, which is now the largest algorithmically-backed stablecoin in the market and the fourth-ranked stablecoin with a market cap of $8.221 billion. Crypto proponents in favor of decentralized stablecoin options have embraced the use of UST in comparison to its more centralized counterparts USD Coin (USDC), Tether (USDT) and Binance USD (BUSD). Crypto project @terra_money ( $LUNA ) has surged 50% in the last week to hit a new all-time high even with bitcoin down 5%Its algorithmically-backed stablecoin $UST has become the largest of its kind and keeps picking up Web3 adoption as THE DeFi dollarWhy that is huge ⬇️ 1/X pic.twitter.com/LSUeA9HgO6— Zack Guzmán (,) (@zGuz) December 2, 2021As the popularity of UST grows, many in the field have begun referring to it as ‘The DeFi dollar’ because it embodies the ethos of decentralization and is slowly spreading across the multi-chain DeFi landscape. Cross-chain integrationsLUNA is also available across a few cross-chain bridges, making it easier for LUNA holders to invest their in DeFi ecosystems on Ethereum (ETH), Solana (SOL), Fantom (FTM) and Polygon (MATIC)In just 6 weeks, users have sent t$185mm+ of $UST and $LUNA through the @wormholecrypto . Top destination? @solana ☀️… Read more here on the proliferation of $UST, powered by @flipsidecrypto bounty program {⛓,} https://t.co/9nWww3dBin— jack (@forgash_) December 4, 2021

Related: Decentralized exchange aggregator trading volumes surge to new highsTotal value locked on Terra hits an all-time highIncreasing use of LUNA and UST pushed the total value locked on the Terra blockchain to a new all-time high at $14.36 billion on Dec. 5th and LUNA price hit a record-high on the same day.Total value locked on the Terra network. Source: Defi LlamaThe rapid rise in TVL has resulted in Terra becoming the third-ranked blockchain network in terms of TVL after it surpassed Solana, which has $12.08 billion in value locked on its protocol, while the top-ranked Ethereum network boasts a TVL of $164.72 billion and the Binance Smart Chain has $22.4 billion in value locked on its blockchain. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for LUNA on Nov. 24, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. CHZ price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for LUNA began to pick up on Nov. 24 and reached a high of 85 around the same time as the price began to increase 106% over the next eleven days.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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Exchange listings and mainnet launch boost SUPER, PBR and BTT price

Exchange listings and mainnet launch boost SUPER, PBR and BTT price

Uverejnil používateľ | dec 7, 2021 |

The cryptocurrency market is back in high spirits on Dec. 7 after the wider market bounced back from the Dec. 3 downturn in Bitcoin (BTC) price. Currently, bulls are aiming to send the price of BTC above the $52,000 support/resistance level and Ether (ETH) is trying to reclaim $4,400 but both assets are encountering push back at overhead resistance. Even with BTC and ETH consolidating, traders’ change of sentiment has been a boon for altcoins and many have seen gains in excess of 50% within the past 24-hours. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that a few of the biggest gainers over the past 24 hours were SuperFarm (SUPER), PolkaBridge (PBR) and BitTorrent (BTT). SuperFarm lists on CoinbaseSuperFarm is a cross-chain protocol that combines decentralized finance (DeFi) and nonfungible tokens (NFTs) to create an ecosystem where NFT creators, collectors and traders can interact in an open marketplace. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $1.02 on Dec. 6, the price of SUPER surged 81% to a daily high at $1.81 on Dec. 7 as its 24-hour trading volume spiked 500% to $323 million.SUPER/USDT 4-hour chart. Source: TradingViewThe run-up in the price of SUPER comes after the token listed on Coinbase alongside PolkaStarter (POLS) and Spell Token (SPELL). Related: Coinbase adds ‘ETH2’ despite tomorrow’s Ethereum upgrade postponing difficulty bombPolkaBridge opens registration for IDOsPolkaBridge is a decentralized multichain protocol designed to work as the primary bridge between Polkadot and other networks. The platform also supports an all-in-one platform that includes an automated market maker (AMM) with farming, lending, token launchpads, prediction markets and an NFT marketplace. Data from Cointelegraph Markets Pro and TradingView shows that after reaching a low of $0.85 on Dec. 6, the price of PBR catapulted 99.4% to reach a daily high of $1.71 on Dec. 7 as its 24-hour trading volume increased 80% to $10.2 million. The quick turnaround in PBR price comes as the platform opened registration for several upcoming initial decentralized exchange offerings that require users to stake at least 10,000 PBR tokens to qualify for an allocation. BitTorrent prepares for its mainnet launchBitTorrent is an established peer-to-peer file sharing and torrent platform that has been making a shift toward a more decentralized design over the past couple of years after being integrated with the Tron ecosystem. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for BTT on Dec. 4, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. BTT price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for BTT climbed into the green zone on Dec. 4 and reached a high of 82 around 29 hours before the price increased 75% over the next day.The building momentum for BTT comes as the project is making its final preparations for the launch of the BitTorrent Chain mainnet, which will include a token redenomination plan where current BTT holders will receive 1,000 new BTT tokens for each old BTT held in their wallet. The overall cryptocurrency market cap now stands at $2.384 trillion and Bitcoin’s dominance rate is 40.7%.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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3 reasons why Tezos (XTZ) price broke its downtrend with a 50% rally

3 reasons why Tezos (XTZ) price broke its downtrend with a 50% rally

Uverejnil používateľ | dec 7, 2021 |

2021 has been a breakout year for the cryptocurrency market and aside from Bitcoin price soaring to new highs, the emergence of a vast decentralized finance (DeFi) ecosystem and the rising popularity of nonfungible tokens (NFTs) has thrust blockchain technology into the mainstream in a way that looks guaranteed to ensure mass adoption. One project that has benefited from its focus on NFTs and the ongoing green revolution is Tezos (XTZ), a layer-one smart contract protocol that is capable of evolving its network without needing to undergo a hard fork. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $3.23 on Dec. 3, the price of XTZ reversed course, gaining 68% to reach an intraday high of $5.45.XTZ/USDT 1-day chart. Source: TradingViewThree reasons for the price recovery seen in Tezos are the launch of Ubisoft NFTs on the Tezos blockchain, the projects’ focus on creating an environmentally friendly blockchain platform and rising transactions and protocol revenue on the Tezos network. Partnership with UbisoftThe most recent development for Tezos, which really got the price moving, was the announcement of a significant partnership with video game maker Ubisoft.  The gaming company is launching Ubisoft Quartz, a platform where users can acquire unique NFTs called Digits, which can be used in-game and the platform will utilize Tezos blockchain..@Ubisoft Quartz is built on @Tezos, an energy-efficient and self-upgradable Proof of Stake blockchain.Learn more at https://t.co/MzfgmL4IrX#Tezos #CleanNFT #BlockchainEvolved https://t.co/XlSEZeVlmM— Tezos (@tezos) December 7, 2021Blockchain-based gaming has emerged as one of the hottest sectors of the cryptocurrency ecosystem in the second half of 2021 and a partnership with one of the largest video game makers in the world could lead to long-term bullish outcomes for Tezos.The beta for Ubisoft Quartz is scheduled to launch on Dec. 9 and will be open to players of Tom Clancy’s Ghost Recon: Breakpoint. Players who meet certain criteria will be able to claim three free cosmetic NFTs from drops for early adopters of the platform. Focus on environmental sustainabilityAnother reason for the growing strength of Tezos is the protocol’s focus on creating an environmentally friendly and sustainable blockchain network. The network utilizes a proof-of-stake consensus mechanism that is known to offer an energy-efficient alternative to more traditional proof-of-work blockchains such as Bitcoin (BTC).According to a report released by the project, “the total annual carbon footprint of the Tezos blockchain is equivalent to the average energy footprint of 17 global citizens.”Reducing the energy required to operate the Tezos network, which has been a goal of the project for some time, has resulted in a 70% increase in energy efficiency on a per-transaction basis for the network in 2021, resulting in the “electricity requirement per transaction being less than 30% in 2021 than what it was in 2020.”Related: Tezos blockchain records 70% increase in energy efficiency in 2021: PwC reportTransaction volumes and revenues riseIn just the past few days, the Tezos network has seen an increase in transaction volume and protocol revenue as each spiked to the highest levels seen in 2021. XTZ daily transaction volume vs. total revenue. Source: Token TerminalAs seen in the graph above, the transaction volume on Tezos surged to a record-high $369 million on Dec. 3, which could be a hint that some investors had caught wind of the Ubisoft news. The jump in activity and revenue came as the project announced the completion of its Hangzhou upgrade, the eighth protocol upgrade for the Tezos network, which demonstrated the project’s ability to self-amend and upgrade without the need to conduct a hard fork. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for XTZ on Dec. 5, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. XTZ price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for XTZ began to pick up on Dec. 4 and reached a high of 87 on Dec. 5, around 21 hours before the price increased 49% over the next two days.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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Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K

Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K

Uverejnil používateľ | dec 6, 2021 |

The wider cryptocurrency ecosystem is in a heightened state of fear on Dec. 6 after the Dec. 3 market sell-off continues to send ripples across the the sector and Bitcoin (BTC) price remains pinned below $50,000. Data from Cointelegraph Markets Pro and TradingView shows that bulls are managing to hold BTC price above $49,000 but the general outlook suggests that additional days of consolidation are in store. BTC/USDT 4-hour chart. Source: TradingViewHere’s a look at what analysts are saying about what to expect from BTC price in the coming weeks. Strong support in the lower $40,000sInsight into the weekly price action for Bitcoin was provided by market analyst and pseudonymous Twitter user Rekt Capital who posted the following chart highlighting the major support and resistance zones traders should keep an eye on. BTC/USD 1-week chart. Source: TwitterRekt Capital said, “BTC Weekly closed above the small red area from which BTC has previously rebounded. BTC is threatening to lose this area but no confirmed breakdown. Just below this area is the orange region, a strong demand area which ended two -25% corrections in February and September.”Short term recovery to $52,000Traders looking to avoid choppy price action in the days ahead would be wise to sit on the sidelines and wait for the market to digest this latest pullback according to analyst and pseudonymous Twitter user Pentoshi, who posted the following chart suggesting a short term recovery in BTC price to $52,000. BTC/USD 1-day chart. Source: TwitterWhile the analyst does see an eventual recovery in the longer term, Pentoshi warned that the market could be choppy in the short term and traders may find a better entry point if they remain patient. Pentoshi said, “I can see BTC short-term trading back towards $52,000 but I think if you wait a few days/week you’ll avoid chop. Buy in low to mid $40,000s. Not get trapped. Don’t see a reason to take new longs here atm. Going to wait for a new trade to come to me.”Related: Bitcoin could ‘drive people nuts’ for months with $53K BTC price ceiling — analystExpect “chop” between $42,000 and $53,000A final bit of insight was offered by independent market analyst Scott Melker, who posted the following tweet laying out the price levels traders need to monitor closely. $BTCMy general view. >53K again resumes the bullish case

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Got crypto? Here are 3 software wallets for storage, staking and swapping

Got crypto? Here are 3 software wallets for storage, staking and swapping

Uverejnil používateľ | dec 4, 2021 |

Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome. Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops. MetaMaskMetaMask was originally launched to support the Ethereum blockchain and decentralized applications (DApps) that run on top of it. It is now available as a browser extension and smartphone application. The company launched in 2016 and has largely benefited from a first-mover advantage to become one of the most popular and widely integrated wallets, and it is one of the few to support nearly every blockchain network. A quick scroll through the supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine- (EVM)-compatible networks and instructions on how to add any listed network to their MetaMask wallet, shows hundreds of blockchain networks supported by MetaMask including many of the top smart contract competitors. Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and it’s easy for users to use various bridges to transfer tokens between the supported networks. MetaMask has also integrated a swap feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume on MetaMask swap has steadily increased throughout 2021. MetaMask swaps daily volume. Source: Dune AnalyticsThe rise in swap volume has also come alongside rumors that MetaMask will eventually release a token of its own and many users are anticipating an airdrop.PhantomPhantom is a popular software wallet and browser extension available for Solana network users.Similar to MetaMask, the Phantom wallet has a built-in DEX that allows users to make direct swaps within the software, thus avoiding the risk of connecting to a scam website or paying gas fees to transfer the funds out of the wallet to another exchange.There are rumors that Phantom could launch its own token and airdrop a portion of the supply to early adopters. So far, however, this is nothing more than pure speculation and nothing has been mentioned by the developer yet. The wallet also has an NFT tracking feature and users can also transact with available NFT marketplaces. Similar to other wallets, Phantom users can stake Solana (SOL) tokens without needing to transfer the assets. Recently, the team announced a partnership with MoonPay that will allow users to use fiat currency and credit cards to purchase tokens in the Solana ecosystem. We’re live on @Phantom! MoonPay’s integration will make onboarding even easier for those new to the @Solana ecosystem, bringing a fiat on-ramp directly to Phantom’s 1M+ users. Full details here https://t.co/34hAnnxLyr pic.twitter.com/08IpTfAbCB— MoonPay (@moonpay) November 17, 2021The project is also developing smartphone applications that will allow users access to the Solana network directly from their smart devices. KeplrKeplr wallet is the first inter blockchain communication- (IBC)-enabled wallet and browser extension for the Cosmos network that allows users to store and access tokens within the ecosystem. It currently supports more than 15 networks including Cosmos, Secret Network, Kava, Crypto.org, IRISnet and Persistence, and the team regularly adds support for new chains with several projects currently under beta access. Holders of the supported tokens are able to stake their holdings directly through the Keplr wallet and the app works on Android and iOS devices. UPDATE: Keplr Mobile is now LIVE See our latest post for the app store links:https://t.co/LUyHzzekHE— Keplr Wallet (@keplrwallet) October 14, 2021

At the moment, there are no rumors of a possible Keplr token or airdrop to users, but one can never be sure about what might happen in the crypto sector. If Keplr integrates popular features like its own swap interface or an NFT marketplace, then the chance of a native token is always a possibility. Want more information about trading and investing in crypto markets?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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