Month: May 2023

JPMorgan analyst sees ‘conditional’ upside to $45,000 in Bitcoin

Nikolaos Panigirtzoglou says BTC should be trading at $45,000.
His forecast is based on gold that’s currently near the $2,000 level.
Despite recent weakness, Bitcoin is up more than 60% year-to-date.

Nikolaos Panigirtzoglou – a JPMorgan analyst remains bullish on Bitcoin even though it has taken a hit in recent weeks.

A gold-based forecast for BTC

Last week, Panigirtzoglou said BTC should be trading at about $45,000. His forecast is hinged on gold that’s currently trading near the $2,000 level. In his research note, the analyst said:

$45,000 price for bitcoin is under the assumption that it equalizes gold in private investors’ portfolio in risk capital or [volume] adjusted terms.

Remember that the price of both assets are historically known to move in tandem.

It is also noteworthy that several whales saw the recent dip in Bitcoin as an opportunity and have accumulated about $100 million worth of BTC over the past 24 hours.

Bitcoin supply will halve in 2024

It is conceivable that strength of the U.S. dollar index and uncertainty, be it related to the federal debt, the rate hikes, or on the regulatory front, could continue to weigh on Bitcoin in the short-term.

Long-term, though, JPMorgan’s Panigirtzoglou is convinced of the upside especially as bitcoin halving next year sees the cost of producing a bitcoin hit $40,000.

Indeed, the previous halving events of 2016 and 2020 were accompanied by a bullish trajectory for bitcoin prices that had accelerated post the halving event.

Despite the recent dip, Bitcoin is up more than 60% for the year at writing.

The post JPMorgan analyst sees ‘conditional’ upside to $45,000 in Bitcoin appeared first on CoinJournal.

Deutsche Telekom partners with Polygon, becomes POS validator

Deutsche Telekom has joined Polygon as a network validator.
The telecommunications giant’s subsidiary Deutsche Telekom MMS will offer staking services to Polygon POS and Supernets.
Deutsche Telekom MMS provides validation and staking services on Ethereum, Flow and Chainlink among other chains.

Deutsche Telekom, the Germany telecommunications giant that has recently been actively expanding its footprint in the blockchain technology space, has partnered with Polygon, the leading Layer-2 scaling platform for Ethereum.

On Wednesday, Deutsche Telekom announced its subsidiary Deutsche Telekom MMS, had joined Polygon as a validator – one of only 100 validators on Polygon’s POS network.

In this case, Deutsche Telekom MMS will participate in the Polygon ecosystem by providing staking services for both Polygon’s PoS sidechain and Supernets. This will be achieved through deployment of a full node and producing blocks as part of contributing to the network’s security, governance, and decentralization. 

As a validator, the company will also help strengthen the Ethereum network.

Deutsche Telekom supports Ethereum and other POS networks

The collaboration is a key step in Deutsche Telekom’s commitment to aid the blockchain adoption process, with Polygon the latest POS chain to add the company as a validator.

Deutsche Telekom MMS already provides validation services for multiple POS networks. As CoinJournal highlighted, the telco giant launched an Ethereum validator in September last year, with this coming after the “Merge”. Other blockchains it supports are Chainlink, Q, Flow, and Celo.

The collaboration with Polygon is an important step for Deutsche Telekom MMS to fully exploit the potential of blockchain technology and enable applications suitable for mass deployment. Deutsche Telekom MMS also supports Polygon staking, contributing to the security and decentralization of the blockchain,” said Dirk Röder, the Head of the Blockchain Solutions Center at Deutsche Telekom.

Michael Blank, the Chief Operating Officer at Polygon Labs, said in a statement that the collaboration will see many more businesses tap into the benefits of Web3 and blockchain technology, with these businesses leveraging Polygon’s network to empower consumers.

As a leading scaling solution for Ethereum, Polygon’s suite of protocols include zero-knowledge rollups, sidechains, and app-specific chains.

The blockchain platform currently hosts tens of thousands of dApps, accounts for over three million daily transactions, and has $1.2 billion worth of assets in Total Value Locked (TVL). Some of crypto industry’s biggest projects, such as Uniswap, Aave, and OpenSea are live on Polygon.

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EOS EVM v0.5.0 launches, bringing Yield+ Liquidity mining to EOS

EOS Network Foundation announces launch of EOS EVM v0.50, first major update of EOS EVM.
The update will enable new yield farming opportunities for DeFi investors.
EOS EVM v0.50 also includes other updates set to make EOS more optimized for DeFi.

In what could be the biggest EOS news this week, the community is celebrating yet another milestone for the blockchain network – the release of EOS EVM v0.5.0.

On Wednesday, the EOS Network Foundation (ENF) announced the release had reached code completion today, revealing new liquidity benefits for the ecosystem via the integration of Yield+ Liquidity.

EOS EVM v0.50 also includes key updates on network optimization and improvements to user experience for EOS’ developer community.

First major update to EOS EVM

V0.50 is the first major EOS EVM version since the EOS Network Foundation, the lead developers of EOS (EOS), launched the EOS Ethereum Virtual Machine mainnet. The beta launch went live in mid-April, around the same time as Ethereum 2.0 activated the highly anticipated Shapella upgrade.

The EOS EVM for Solidity developers enabled interoperability between EOS and Ethereum and marked an important step for further growth of the EOS network.

EOS EVM v0.50 brings Yield+ Liquidity to ecosystem

With EOS EVM v0.50, DeFi traders can now access more dApps and tap into new yield farming opportunities.

Yield+ brings a liquidity rewards program that will not only attract more DeFi dApps to EOS, but also help increase the Total Value Locked (TVL). The program was unveiled in August and sees dApps rewarded in tokens, with this based on the total value of deposits they bring into the EOS ecosystem. 

Per details on DeFiLlama, EOS currently has $98 million in TVL, a tiny portion of the $27 billion in TVL on Ethereum.

What are the other key updates of EOS EVM v0.50?

Apart from Yield+, EOS EVM has also introduced several updates on optimization, performance and user experience. The updates include read-only transaction execution support, removal of advanced execution, updated “inevm” table and modification to the withdraw action.

The ENF says code completion for the EOS EVM v0.50 also now allows EOS engineers to strategize for a testnet for the smart contract upgrade. This testnet is currently in development and will pave the way for mainnet deployment.

A roadmap highlighting upcoming key milestones for EOS will also be released soon, with developers, dApps and DeFi investors all likely to benefit immensely from new capabilities and opportunities.

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Web3 payments provider Transak raises $20M in Series A round

Transak announced it raised $20 million in a series A round led by CE Innovation Capital.
The startup also attracted investments from SBI Ven Capital, Sygnum, and Woodstock Fund among other investors.
An FCA-registered startup, Transak plans to use the funds to further development of onboarding solutions for Web3 and crypto.

While venture capital funding for crypto projects cooled off in late 2022 and earlier in the year, the ecosystem still attracts notable investments as sentiment across the industry improves. That has been reflected in the latest Series A round for crypto payments startup Transak.

Transak secures $20 million series A round

According to an announcement the firm published on Tuesday, the platform secured $20 million in a funding round led by CE Innovation Capital, a venture fund that invests in FinTech startups worldwide.

The round also attracted participation from leading crypto and Web3-focused investors, including Animoca Brands, SBI Ven Capital, Sygnum, Zilliqa Capital, Woodstock Fund, and IOSG Ventures. Angel investors included Jan Hammer of Index Ventures, Sandeep Nailwal of Polygon and Charles Delingpole of ComplyAdvantage.

Transak, which supports onboarding efforts for MetaMask, Coinbase Wallet and AAVE among others, plans to use the capital injection to offer more end-to-end onboarding solutions.

Bingze Gu, partner at CE Innovation Capital, commented:

At CEiC, we’re strategically invested in propelling the Web3 ecosystem forward. Transak stands at the forefront of this revolution, wielding their On & Off Ramp solution as a potent instrument to usher in the next billion Web3 users. Their recent initiatives, such as Transak One and the NFT checkout offerings, are not just lowering the barriers to entry into Web3 – they’re redefining them.”

The platform is registered with the UK’s Financial Conduct Authority (FCA) and is recognised as a VASP in Poland. According to details on its website, Transak’s operations support over 160 cryptocurrencies across more than 75 blockchain networks including Ethereum, BNB Smart Chain, Polygon, Solana and Ziliqa.

The startup also supports 28 local payment methods including SEPA, Faster Payments, VISA, AstroPay, Cash App, Apple Pay and Google Pay.

The post Web3 payments provider Transak raises $20M in Series A round appeared first on CoinJournal.

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

London, United Kingdom, May 31st, 2023, Chainwire

Marking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new pricing efficiencies over traditional options desks ahead of the protocol launch in August 2023.

This report delineates a milestone in financial technology, showcasing an altogether new financial instrument that consistently outperforms existing options desks in generating both competitive premia and sustainable yields, backtested against genuine, multi-year historical cryptocurrency market data and options prices.

The report is the culmination of a two-year exercise in Research and Development powered by a $20m investment and derived in collaboration with CADLabs and the Swiss Centre for Cryptoeconomics.

Key highlights from the simulation report:

On average, Bumper Takers paid 9.3% cheaper premia than buyers of traditional put options.
During the 2022 bear market, Bumper’s simulation showed a yield improvement of 46.2% for Makers compared to options pricing, without resorting to token incentives.
The protocol remained solvent throughout the simulated conditions.
Despite having different inputs and methodology, Bumper’s results reveal a remarkable correlation with the Nobel Prize-winning Black-Scholes model.

These results have been pivotal in understanding and honing the resilience of the Bumper protocol across diverse market conditions.

On the release of the report, Bumper CEO Jonathan DeCarteret expressed, “By challenging and potentially reshaping the accepted norms of options pricing, Bumper stands to revolutionise not just the crypto options market, but also has the potential to penetrate traditional finance and disrupt the colossal $13T derivatives market in the future.”

The report underscores the anticipated outcomes of Bumper’s dynamic pricing, based on forward volatility rather than the usual implied volatility.

The findings of the simulation report positions Bumper as an immensely appealing prospect for institutions and fund managers, in addition to retail crypto investors.

The economic simulation report released today marks the most significant validation of Bumper’s innovative approach to date, and signals what could be one of the most substantial challenges to the Black-Scholes derived pricing in half a century.

Read Bumper’s simulation report here and for more information on the protocol visit https://bumper.fi.

About Bumper

Bumper is a DeFi risk market that provides protection from downside volatility in the price of crypto assets. Users buying protection (Takers) set a price at which they wish to protect their crypto should the price fall, but they don’t lose out if the market heads upwards. Conversely, other users (Makers) earn a yield by providing stablecoin liquidity to the protocol.

Learn more about Bumper

Website | Twitter | Discord | Youtube

Contact

CMO, Jason Suttie, Bumper, marketing@bumper.fi

The post Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing appeared first on CoinJournal.

Swiss blockchain firm Anoma secures $25 million funding round

The Swiss-based non-profit said the funding was led by CMCC Global and backed by Electric Capital, Delphi Digital, Dialectic, KR1, Spartan, and NGC.
Anoma will use the funds to accelerate development of its third-generation intent-centric blockchain architecture.
In recent weeks, Anoma has submitted proposals to airdrop its NAM token to Zcash and Osmosis holders.

Anoma Foundation, the Swiss-based non-profit behind L1 privacy blockchain Namada, has successfully completed a $25 million fundraising round. In an announcement on Wednesday, Anoma said the round was co-led by CMCC Global, a leading blockchain-focused venture capital firm.

According to the foundation, also backing it are several prominent investors including Electric Capital, Delphi Digital, Dialectic, KR1, Spartan, and NGC. Others were MH Ventures, Perridon Ventures, Anagram Bixin Ventures, No Limit, Plassa and Factor.

Anoma also received backing from more than 30 angel investors from across L1s, dApps and ZK cryptographers.

The funding round is targeted at accelerating the non-profit’s efforts of bringing the third generation blockchain architecture to the market, the foundation said. 

Anoma’s third-generation blockchain architecture

Per Anoma, the significant backing is an illustration of the confidence industry players have in its innovative intent-centric architecture. This includes novel primitives that are set to bring full decentralisation to Web2.5 apps, such as rollups, DEXs and NFT marketplaces.

We are thrilled to have co-led this fundraising round of Anoma,” said Charlie Morris, co-founder & managing partner of CMCC Global. He added:

The team is pushing the boundaries of protocol design and reimagining how base layer infrastructure should operate. It is refreshing to see Anoma’s designs and philosophy against the backdrop of a homogenous group of layer-1 smart contract platforms.”

Other than supporting further development of its blockchain architecture, Anoma Foundation will use the $25 million war chest to fund ongoing R&D initiatives. The funds will also be crucial in developing tools that help drive adoption across the ecosystem.

The Anoma Foundation’s Namada blockchain, which brings multichain privacy to users, is getting closer to its mainnet launch.

In recent weeks, the non-profit has looked to integrate with some of the leading ecosystem platforms and networks ahead of the launch. 

As CoinJournal reported, it includes proposals to bring shielded airdrops to Zcash (ZEC) and Osmosis (OSMO) holders. The proposals also include a grants pool and bridge to top blockchains Ethereum and Cosmos.

The post Swiss blockchain firm Anoma secures $25 million funding round appeared first on CoinJournal.

The Rise of Crypto Casinos

Whether you are busy finding a decent bonus for a PayPal casino or you only play using your credit or debit card, you can’t have escaped noticing that many casinos are now offering the chance to play your favourite games using some of the more popular cryptocurrencies

Crypto casinos are not exactly new; they’ve just started to raise more to prominence as the digital currency has become more mainstream. 

But where do you start with crypto casinos? Why are they popular – and are they a good thing?

One Minute Cryptocurrency Basics

Although it is hard to track the number of cryptocurrency users because of the very nature of the decentralized currency, best analyses have shown that the global user base of cryptocurrency rose 190% between 2018 – 2020 and continues to grow. Some statistics claim that one in four Americans have invested in some form of cryptocurrency. 

Cryptocurrency is essentially a digital currency that is exchanged through a computer network, protected by cryptography. The decentralized technology is managed through the blockchain, which is a ledger that is managed by a distributed and disparate network of computers. 

Crypto is described as decentralized, because unlike fiat (physical) currency, it is not reliant on a government or a bank to uphold or maintain it – which means that it is theoretically immune to interference or manipulation. 

Although crypto is not yet used in many retail transactions, interest in the area from companies like Mastercard and Tesla have increased the legitimacy, making more people interested in investing in the altcoin network.

Why Crypto Casinos?

Cryptocurrencies are being offered as a deposit method by online casinos around the world. Some are ‘traditional’ online casinos who offer the alternative method alongside using credit and debit cards, bank transfers, and PayPal. 

Other crypto casinos are set up to only accept altcoins as a deposit and withdrawal method, and you might need to use a VPN (Virtual Private Network) to access them, because they are not widely regulated or accepted in every jurisdiction – partly because cryptocurrency is notoriously difficult to oversee and monitor by global governments. 

The global crypto gambling market is predicted to reach $1.6 billion by 2024 – so why are people choosing this new way to play?

Anonymity

The whole point of cryptocurrency is that it is a decentralized, anonymous exchange method. Crypto casinos do not require you to sign up using any identifying personal information, and the transactions are encrypted in such a way that the coins are recognized numerically. 

It is worth noting that crypto is not completely anonymous, and the travels of a Bitcoin or any other altcoin can be tracked by their digital trail.

Speed

Using cryptocurrency cuts out the middleman. No bank or other institution needs to be involved in making transactions happen – all you need is the public and private key information, and away you go. 

The other benefit of no third-party involvement – and being decentralized – is that if there is catastrophic failure, for example a bank system crashes or the stock market crashes, altcoins will still be available for use. 

Ease of Use

Crypto is stored online, in digital form – so you never have the cash in your hand. The wallet where the coin is stashed can be a personal one, or it can be held by a specific company – but it is only available for you to access, using the combination of public and private keys that only you know the details of. 

You just need to transfer it to your crypto casino account, and you are ready to play making crypto easy to use.

Fairness of Games

Cryptography secures cryptocurrencies, and it also creates them – and the same technology can be used to create algorithms that we rely on when it comes to playing in online casinos. Aside from the live dealer games, all the casino games that you play are reliant on gaming technology like Random Number Generation (RNG) to make the games work – and to make them fair. 

Using blockchain level algorithms in creating slots and other games for you to play is part of the reason that the games remain fair and balanced, and you can rely on them to be about luck rather than the whim of the casino company. 

Bonuses

Like all casinos, it is the bonuses that will attract new players – and while crypto casinos might not have much in the way of bonuses available now, that will change as the competition for customers hots up. Some crypto casinos have already set up deposit matching and rake back bonuses, but there is plenty of scope for other types. 

Online casino bonuses can be things like deposit matching and free spins, and we can expect those to be a part of the offering for new crypto casino players too – but with so many other reasons to play casino games using cryptocurrency, it might not be the only draw. 

The post The Rise of Crypto Casinos appeared first on CoinJournal.

XDC token trending after SBI VC Trade partnership in Japan

At press time, the price of the XDC token was $0.03539.
The token had gained 12.88% in the last 24 hours at the time of writing.
The token is trending after XDC Network formed a strategic partnership with SBI Group’s subsidiary SBI VC Trade in Japan.

The XinFin Digital Contract (XDC) token has been the talk of the day following its splendid performance after XDC Network announced that it has inked a strategic partnership with SBI VC Trade, a subsidiary of SBI Group. 

The partnership, which is a major milestone for the XDC Network also referred to as the XinFin Network, is aimed at enhancing trade finance efficiency in Japan by ensuring that the SBI VC Trade provides comprehensive services to customers in Japan. It comes after the recent XDCNFT launch by the BlocksWorkz tech firm causing an XDC price Bull Run.

The Japanese finance market sees an annual trading volume of about 2,000 trillion Yen and XDC Network’s involvement in the market is beneficial for both the network and the market.

Importance of a hybrid blockchain ecosystem

The XDC is the digital asset that powers the eXchange inFinite (XinFin) Network, which is a Delegated Proof of Stake Consensus network (XDPoS), enabling Hybrid Relay Bridges, Instant Block Finality and Interoperability with ISO20022 messaging standards, making XinFin’s Hybrid Architecture Developer friendly.

The XDC Network’s partnership with SBI VC Trade underscores the growing importance of a hybrid blockchain ecosystem that facilitates seamless transactions.

The partnership definitely holds huge potential for revolutionizing the XDC Network, positioning it as a promoter of digital transformation within the finance trade market and solidifying its position as a leading global player in the blockchain industry.

Furthermore, XDC has introduced several initiatives aimed at enhancing user experience by delivering more intuitive and user-friendly solutions.

In addition, the Japanese finance trade sector is strategic to the expansion of the XCD ecosystem and positions XCD as an ideal choice for businesses looking for streamlined operations and an enhanced financial framework.

The post XDC token trending after SBI VC Trade partnership in Japan appeared first on CoinJournal.

STEPN’s Find Satoshi Lab unveils AI tool that generates NFTs from selfies

The GNT platform uses advanced AI algorithms to turn images into unique artwork
Find Satoshi Lab (FSL) says GNT V3 pushes the boundaries of creativity and self-expression.
Users will be able to mint NFTs from their selfies on Solana.

Find Satoshi Lab (FSL), the Web3 studio behind STEPN, has announced an artificial intelligence (AI)-powered tool that will allow users to generate NFTs from their selfies.

The AI-enabled NFT generator, GNT V3, will work via FSL’s recently launched NFT marketplace MOOAR. According to an announcement posted on the MOOAR Twitter account on Wednesday, GNT V3 will help users mint selfie NFTs on the Solana blockchain.

Users can mint and trade selfie NFTs 

GNT V3 follows on the FSL’s previous releases of V1 that enabled the minting of individual NFTs and V2 that integrated AI to allow for minting of NFTs from entire collections.

Yawn Rong, co-founder of Find Satoshi Lab, commented that GNT V3 is set to push Web3 to a new level with regard to digital self-expression.

According to details in a press release, the new AI-powered tool gives users an edge when it comes to creating unique digital art, with the NFTs available for trading.

FSL co-founder Jerry Huang said:

This puts an endless potential of creativity in the hands of creators, and we are proud to take this one step further with the launch of V3.”

Apart from Solana, FSL plans to have GNT V3 expanded to other chains.

The post STEPN’s Find Satoshi Lab unveils AI tool that generates NFTs from selfies appeared first on CoinJournal.

Here’s why Linear Finance’s LINA token price is surging

LINA price has defied gravity in the past few days as its rally gains steam. Linear Finance token soared to a high of $0.02623, the highest level since April 24th of this year. In all, the token has jumped by more than 365% from the lowest point this year.

Why is Linear Finance token soaring?

LINA is the native token for Linear Finance, a small DEFI platform that offers a cross-chain platform to trade digital assets. The platform offers several features, including Linear Buildr, Linear Exchange, Linear Swap, and Linear Vault. Acording to DeFi Llama, Linear Finance has over $17 million in total value locked.

It is unclear why LINA price has surged in the past few days.A likely reason is that the volume of trades in the ecosystem is doing well, with the TVL surging to over $13 million. It was about $5 million at its lowest level in 2022.

The other reason is that the token is gaining traction in social media. As shown below, data compiled by LunaCrush shows that it is one of the most actively mentioned project on social media. Historically, cryptocurrencies that are mentioned in platforms like Twitter, Reddit, and StockTwits tend to do well.

The same is happening in CoinMarketCap, one of the biggest crypto websites in the industry. As shown below, together with $TOMO, $OXBT, $HEX, and $BIAO, it is one of the top trending coins in the platform.

LINA price prediction

The daily chart shows that LINA crypto price has been in a strong bullish trend in the past few months. This week, the token managed to move above the important resistance point at $0.0194, the highest point on April 6. 

LINA has jumped above the 50-day and 25-day exponential moving averages (EMA) while its volume is drifting upwards. At the same time, the Relative Strength Index (RSI) jumped above the overbought level at 80. 

Therefore, there is a likelihood that the token will retest the key support at $0.175 and then resume the bullish trend. If this happens, the next level to watch will be at $0.030, which is ~50% above the current level. A drop below $0.017 will invalidate the bullish view.

How to buy LINA

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy LINA with Binance today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


Buy LINA with Swapzone today

The post Here’s why Linear Finance’s LINA token price is surging appeared first on CoinJournal.


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