Day: January 5, 2024

Metacade price prediction amid bullish outlook for Ovr, UBXS

Metacade, Ovr and UBXS could benefit from altcoin rally as P2E and RWAs dominate 2024.
OVR and UBXS arel targeting $1 and $0.1 respectively.
MCADE is signaling a potential upswing as price holds at a key level.

As the crypto market consolidates amid bull market predictions, three altcoins likely to take off big time in coming weeks and months are Metacade (MCADE), Ovr (OVR) and UBXS (UBXS). As UBXS and Ovr prices pick upside momentum, MCADE is signalling a bullish flip as price holds above a key support level.

OVR and UBXS price prediction

OVR and UBXS are trading higher today, with their respective prices up in the past 24 hours. UBXS has posted more gains in the past week, netting over 42% in weekly upside action. Meanwhile, OVR has seen about 8% in upward returns over the same period.

As the market recovers from this week’s dip, the two coins could benefit from a resurgence in play-to-earn (P2E) and tokenization narratives. Experts say the latter is one of the key trends to watch in 2024.  

According to crypto analyst Michael van de Poppe, a rallying altcoin market amid growth in tokenization of real-world assets could help UBXS price. The analyst sees a potential move to the $0.09- $0.13 area.

The #Altcoin market is going to accelerate some more in the upcoming period, as the cycle just started. #RWA will be one of the core topics and $UBXS is such a project. Held a crucial support level and looks ready for a new impulse towards $0.09 and $0.13,” the analyst posted on his X account.

The #Altcoin market is going to accelerate some more in the upcoming period, as the cycle just started.#RWA will be one of the core topics and $UBXS is such a project.

Held a crucial support level and looks ready for a new impulse towards $0.09 and $0.13. pic.twitter.com/pjZsV6J4Q4

— Michaël van de Poppe (@CryptoMichNL) January 5, 2024

OVR, the token of the augmented reality (AR) metaverse Over the Reality, could benefit from the rise of P2E, Web3 and metaverse. OVR reached peaked at $3.33 in December 2021. While its 89% off that high, a bounce from current price of $0.34 could see bulls retest recent resistance above 0.74. Bull market targets from will be above $1.  

Metacade price prediction

Metacade price has struggled for upside momentum since hitting highs of $0.02 in November. The blockchain-based gaming platform’s native token MCADE reached the recent peak amid the bullish sentiment that surrounded Metacade’s mainnet launch.

While the milestone and the major partnerships the GameFi project has struck with leading providers continues to drive adoption, the initial buoyance for MCADE price has faded since the 106% gains in a week last November.

Indeed, at current levels below $0.012, Metacade price is down 28% in the past month. It’s also significantly off its all-time high above $0.045 reached in May 2023.

However, play-to-earn (P2E) is expected to see greater traction in 2024 and programs such as Metacade’s Meta Grant could incentivize the community of developers and game studios even more. MCADE could be a bigger beneficiary of this outlook as the gaming platform begins to dominate the space.

MCADE price is likely to bounce off the $0.012 with an altseason providing tailwind impetus. Approval for a first spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) could be the initial trigger of this. 

Short term, Metacade’s native token could explode to above $0.1, while the psychological $1 remains a target.

The post Metacade price prediction amid bullish outlook for Ovr, UBXS appeared first on CoinJournal.

Mint and Trade Real-World Addresses Onchain with PropyKeys dApp, part of Propy Ecosystem

January 3, 2024, 10 am EST, Miami, Florida – Today, PropyKeys, a new gamified application, part of Propy ecosystem, introduces a home addresses market onchain. It is a decentralized application (dApp) game, powered by the PRO token and launched on Base, a layer-2 network operating on top of Ethereum and part of the Coinbase ecosystem. Participants can mint their own or someone else’s home addresses onchain and stake or sell later. 

Real estate has long been restricted by barriers to entry such as exorbitant title fees and inefficiencies that blockchain can simplify. Propy and its ecosystem companies aim to make homeownership seizure-resistant, more affordable and user friendly

The $280 trillion market has remained entrenched in a “no trading zone,” but PropyKeys seeks to rewrite this narrative by being a fun entry point to the Propy ecosystem and title onchain. Now, anyone can start their onchain journey by minting home addresses via PropyKeys,and then verifying ownership via Propy, and even creating instant property sales or micro mortgages—all within the onchain Propy ecosystem.

“Imagine a world where every property’s rightful ownership is seamlessly encapsulated in an immutable onchain title”, said Andrew Zapo, lead contributor to PropyKeys. “Picture a future where individuals can effortlessly engage in peer-to-peer property transactions or leverage their property holdings for micro mortgages. This future, underpinned by blockchain’s trustless architecture, redefines property rights autonomy and, in turn, societal norms.”

___

Unlocking Property Ownership

At its core, PropyKeys addresses critical pain points:

Democratized Minting and Trading

PropyKeys allows crypto natives to mint addresses, stake them, and seamlessly facilitate trades with property owners. Address NFTs could be minted for a PRO token fee. Home address holders and real owners of properties of the acquired addresses have the following advantages for the 3 tiers of NFTs. Inherent in the tokenomics strategy is the collection of $PRO as a fee for minting onchain addresses and property titles. This fee structure, while sustaining ecosystem development, simultaneously incentivizes community participation. 100% of the collected fees from addresses are redirected to incentivize and reward the network of address owners, ensuring active engagement and network growth. Additionally, mechanisms such as staking and governance participation offer avenues for token holders to contribute and influence the ecosystem while earning rewards in $PRO tokens.

Additionally, in the future, the community will be incentivized to provide loans for collateralized RWA NFTs via a secure protocol, developed by the Propy ecosystem of partners.

Onchain Titles & RWA NFTs

Property owners can elevate their addresses to onchain titles, enabling them to stake these titles or convert them into Real World Asset (RWA) NFTs. These NFTs facilitate easy sales or micro mortgages, opening new avenues for property transactions.

Trust & Security

Leveraging user trust, PropyKeys champions an onchain, open-source, and community-governed title registry. By replacing paper deeds with algorithm-based systems, the platform guarantees a trustworthy and secure environment for all users. 

Get your real-world address minted today

Visit PropyKeys.com today to mint your real-world address onchain. Join the movement empowering accessible property transactions and ownership like never before.

PropyKeys’s innovation embodies philosophical tenets—trust and transparency. The transition from conventional property registries to blockchain-based onchain titles instills trust in algorithms rather than centralized intermediaries. This philosophical shift reverberates beyond the real estate sphere, transcending into a broader societal paradigm that has started its rapid revolution with programmable decentralized money.

About Propy:

Propy is a pioneering platform leveraging blockchain technology to facilitate seamless transactions of real world assets (RWA), specifically focused on revolutionizing global real estate markets. As an industry leader, Propy specializes in providing secure and efficient solutions, ensuring an enhanced experience for buying and selling properties worldwide.

X (Twitter): https://twitter.com/PropyInc

Facebook: https://www.facebook.com/propyinc

Website: https://propy.com/

Media contact: andrew@propykeys.com

Disclaimer: This press release contains forward-looking statements and should not be construed as investment advice. The actual results may differ materially from those projected in the forward-looking statements.

The post Mint and Trade Real-World Addresses Onchain with PropyKeys dApp, part of Propy Ecosystem appeared first on CoinJournal.

Bitget Welcomes ORDISWAP to Its Growing BRC20 Ecosystem

Victoria, Seychelles, January 5th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, proudly introduces the latest addition to its platform — ORDISWAP (ORDS), a decentralized exchange (DEX) designed to redefine the decentralized trading experience.

ORDISWAP, leveraging Bitcoin’s native layer through the innovative fusion of the BRC-20 standard and Ordinals, is a decentralized exchange designed to bring the benefits of decentralized finance (DeFi) to users. With a focus on cross-chain compatibility, liquidity provision, and community governance, ORDISWAP is poised to contribute to the growth and development of the decentralized ecosystem.

ORDISWAP boasts a user-centric interface that simplifies the trading process for both beginners and experienced users. With cross-chain compatibility, users can seamlessly trade digital assets across multiple blockchain networks, ensuring flexibility and expanding their investment options. ORDISWAP also features innovative liquidity pools, enabling users to contribute liquidity and earn rewards.

The platform’s governance structure is community-driven, offering users the opportunity to actively participate in decision-making through voting mechanisms. Bitget, with its commitment to fostering innovation and inclusivity in the crypto space, is excited to bring ORDISWAP into its diverse ecosystem.

Gracy Chen, Managing Director of Bitget, states, “We are delighted to welcome ORDISWAP to the Bitget family. ORDISWAP’s commitment to providing decentralized and user-centric trading aligns with Bitget’s mission of fostering innovation and inclusivity in the crypto space. This listing reinforces our dedication to offering our users a diverse range of high-quality projects.”

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

For media inquiries, please contact: media@bitget.com

 

Contact

Rachel Cheung
media@bitget.com

The post Bitget Welcomes ORDISWAP to Its Growing BRC20 Ecosystem appeared first on CoinJournal.

The explosive growth of cryptocurrencies over the past decade

Cryptocurrencies surged from 66 in 2013 to 8,886 in 2023.
2017 marked explosive growth, leading to 2,817 currencies.
The market peaked at 7,557 in 2021, later consolidating to 8,886 in 2023.

In the fast-paced world of finance and technology, the last decade has witnessed an unprecedented surge in the popularity and diversity of cryptocurrencies. Beginning with the introduction of Bitcoin in 2009, the subsequent years have seen the emergence of numerous digital currencies, each vying for its place in the evolving landscape.

A new research by CoinJournal.net analysed the data available on Statista in order to get an overview of the incredible growth of cryptocurrencies over the past decade.

Year
Number of cryptocurrencies

2013
66

2014
506

2015
562

2016
644

2017
1,335

2018
1,658

2019
2,817

2020
4,117

2021
7,557

2022
9,310

2023
8,886

The Early Years (2013-2016)

In 2013, the cryptocurrency market was in its infancy with a modest 66 digital currencies. Bitcoin, as the pioneer, dominated the scene, setting the stage for what was to come. The subsequent years saw a gradual increase, with 506 cryptocurrencies in 2014 and 562 in 2015. As the technology matured, the number of cryptocurrencies continued to climb, reaching 644 in 2016.

The Cryptocurrency Boom (2017-2019)

The year 2017 marked a turning point, as the cryptocurrency market exploded with a staggering 1,335 digital currencies. This surge was fueled by increased public awareness, growing investor interest, and the rise of ICOs as a popular fundraising method. The momentum continued into 2018 and 2019, with 1,658 and 2,817 cryptocurrencies, respectively. These years were characterised by innovation, competition, and the exploration of diverse blockchain applications beyond just digital currencies.

The Years of Unprecedented Growth (2020-2021)

The cryptocurrency market experienced an unprecedented leap in 2020, with the number of cryptocurrencies soaring to 4,117. The COVID-19 pandemic, financial uncertainty, and the growing appeal of decentralised finance contributed to this remarkable expansion. However, the most remarkable growth occurred in 2021, with a staggering 7,557 cryptocurrencies. This explosive increase can be attributed to the mainstream acceptance of cryptocurrencies, institutional investments, and the broader adoption of blockchain technology.

Consolidation and Adjustments (2022-2023)

As we entered 2022, the cryptocurrency market experienced a shift. While the number of cryptocurrencies continued to grow, reaching 9,310, the pace slowed compared to the previous year. Regulatory scrutiny, market corrections, and a focus on quality over quantity contributed to a more consolidated landscape. In 2023, the number dipped slightly to 8,886, indicating a maturing market where projects were evaluated more critically.

Max Coupland, the director of CoinJournal, comments, “As we reflect on the journey of cryptocurrencies over the past decade, it becomes evident that the market has not only weathered challenges but has also reshaped the financial world. The stage is set for continued evolution, adaptation, and integration into the broader financial system. Cryptocurrencies, having already made an indelible mark on finance, are certain to revolutionise our understanding of money and technology in the years to come.”

The post The explosive growth of cryptocurrencies over the past decade appeared first on CoinJournal.

Meme Moguls price outlook as Cardano and XRP eye bull market lift

Ripple (XRP) price is above $0.57 while Cardano (ADA) is at $0.55.
Both altcoins could eye the $1 price level in 2024 as the market intensifies its bullish outlook.
Meme Moguls is a new project in presale, currently priced at $0.0027 as interest pushes total raised amount to over $1.4 million.

Cardano (ADA) and XRP (XRP) are two of the top 10 coins by market cap that could rip higher amid the current bull market expectations. The crypto market is also keen on Meme Moguls (MGLS), a new token in presale that has attracted over $1.4 million.   

Which altcoin hits the psychological $1 first – ADA or XRP? Could MGLS outperform post-launch?

XRP price prediction: Can bulls break $1 barrier in 2024?

Ripple scored a major win against the US Securities and Exchange Commission (SEC) in 2023, with XRP declared not a security. While XRP price surged amid the resulting exuberance, the rally faded just above the $0.94 mark in July.

Another upside move collapsed above $0.74 in November. XRP price however remains well above the lows of $0.30 reached in January 2023. 

Although CoinGecko data shows the altcoin’s value has declined 8% over the past 30 days, its gains over the past year currently stand at 66%.

XRP price chart. Source: TradingView 

Ripple’s established presence in the global payments market means further traction for XRP. Also notable is the imminent end to its legal battles with the SEC. Regulatory clarity combined with a confluence of positive market catalysts, including spot ETFs momentum, could be big for crypto, not just XRP.

In this case, a break above $0.74 brings the $1 mark into view and could see XRP target $1.5. The all-time high for XRP/USD is $.40 reached in 2018.

Cardano (ADA) price prediction: $0.70 is a key hurdle

The price of Cardano (ADA) is currently poised above $0.55 as buyers look to recover from this week’s dip in crypto prices amid the spot Bitcoin ETF speculation.  

For Cardano bulls, price needs to hold above $0.55 for upside continuation. If that happens, a break to $0.70 could bring $1 into play. According to crypto analyst Captain Faibik, a bullish pennant suggests a potential 30-40% surge in ADA price.

$ADA Bullish Pennant formation..!!

Looks Promising for the Another +30-40% Bullish Rally..📈#Crypto #Cardano #ADA pic.twitter.com/53rYFF5Ws9

— Captain Faibik (@CryptoFaibik) January 2, 2024

But with the altcoin having struggled for upside momentum since the breakdown from $0.70 in May 2022, the likelihood of a breakout could rely more on this broader market sentiment. 

Bitcoin’s flip from lows of $41,450 on Wednesday to above $44,000 at the time of writing could help altcoins higher.

Meme Moguls (MGLS): A new 100x token?

Meme Moguls is a project that seeks to bring the benefits of stake-and-earn to the fast-growing meme ecosystem. 

With meme-inspired digital tokens such as Dogecoin, Shiba Inu and Pepe hitting new highs recently, the market can benefit more by tapping into this potential via Meme Moguls.

Powered by the governance token MGLS, Meme Moguls offers a platform from which users can unlock rewards while showcasing their trading prowess. Becoming a mogul on Meme Moguls will see users earn MGLS on top of other perks such as NFTs.

Meme Moguls price outlook

While XRP and Cardano are poised for a potential breakout to the psychological $1 mark, Meme Moguls is a new crypto token likely to outperform in coming months.  

Currently in stage 4 of the ICO, the price of MGLS has increased from $0.0019 to $0.0027. Post presale price movement could see MGLS explode in the second half of 2024, particularly with a successful project launch amid a bull run.

As the meme coin market grows, Meme Moguls’ innovative approach to the sector could see the project dominate a market expected to hit $6.1 billion by 2025.  

Interest in the Meme Moguls presale is high, with more than $1.4 million raised within a few weeks of its launch.

The post Meme Moguls price outlook as Cardano and XRP eye bull market lift appeared first on CoinJournal.

Bitget Wallet Unveils ‘Smart Money’ Feature, Elevating Trading with AI-Enhanced Real-Time Insights

Victoria, Seychelles, January 5th, 2024, Chainwire

The world-leading Web3 trading wallet, Bitget Wallet (formerly known as BitKeep Wallet), has unveiled its ‘Smart Money’ feature, an advanced tool designed to refine trading strategies.

This tool leverages state-of-the-art AI technology to rigorously analyze and process on-chain data in real-time. It identifies and tracks over 6,000 historically high-performing Smart Money addresses on Ethereum while also performing safety checks. These addresses are linked to traders renowned for their experience and strategic acumen, whose trading maneuvers frequently herald key market trends. Bitget Wallet is also gearing up to extend the Smart Money feature to additional blockchains like BNB Chain, Solana, Polygon and Avalanche, aiming to significantly widen its reach.

The Smart Money feature is meticulously crafted to furnish individual traders with lucid and prompt trading signals alongside insights into market dynamics. It presents comprehensive details about the Smart Money addresses currently engaged in trading. This includes the trading cryptocurrency, transaction prices and volumes, and the number of holding addresses, thereby empowering traders with immediate access to trading signal alerts.

Furthermore, users can effortlessly retrieve this information through their mobile app, akin to scrolling through social media feeds. This enables them to observe Smart Money movements, comprehend real-time trading profits and losses, assimilate trading strategies from professional investors and whales, and consequently unearth novel opportunities for on-chain trading.

Discussing the ethos behind the product, Alvin Kan, Chief Operating Officer of Bitget Wallet, remarked,

“The crypto market’s pronounced volatility and asymmetry, coupled with an extensive array of investment categories, pose a formidable challenge for ordinary investors to access the informational and resource privileges enjoyed by a select Smart Money few.”

He further elucidated,

“Our mission is to empower users to preemptively discern market trends, promptly uncover investment opportunities, and consequently bridge the gap between ordinary investors and Smart Money.”

Bitget Wallet’s on-chain trading feature, Bitget Swap, demonstrates formidable strength by supporting nearly 30 mainnets and aggregating the liquidity of hundreds of mainstream decentralized exchanges (DEXs) and cross-chain bridges. It effectively eliminates common on-chain trading issues such as gas tokens and high slippage, offering users a platform to freely trade any assets on any network, rivaling the experience provided by centralized exchanges.

While other wallets may also offer swap functionality, Bitget Wallet has pioneered the introduction and continuous enhancement of on-chain market data. Its intelligent market data feature not only aggregates full-chain trends and multi-dimensional market leaderboards, but has now taken a significant leap forward by introducing the Smart Money feature, a capability not commonly found in most wallets on the market.

The core value of intelligent market data lies in its ability to assist users in discovering new assets and trading opportunities. Alvin delved into the significance of this feature,

“By utilizing the Smart Money feature, we’re not just observing the buying and selling prices of token or determining the right time to exit based on selling trends. More importantly, it enables us to identify the emergence of new assets and trends, which are the new opportunities in Web3. Our aim is to provide users with a rich selection of on-chain assets and robust on-chain trading services, enabling them to seize these new opportunities.”

Together, Bitget Exchange and Bitget Wallet form an integrated ecosystem combining CeFi and DeFi. Bitget Exchange, adhering to the philosophy of ‘Intelligent Trading’, leverages new technologies such as AI to help crypto investors trade smarter. On this platform, experienced traders can share their mature and market-validated trading strategies, allowing industry newcomers to swiftly and effortlessly emulate them. This process involves the application of tools once exclusively available to professional investors, thereby creating a win-win situation for all participants.

About Bitget Wallet (Web3 Trading Wallet)

Bitget Wallet, formerly known as BitKeep, stands as Asia’s largest and global frontrunner among all-in-one Web3 multi-chain wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, and more.

With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Bitcoin, Ethereum, TRON, BNB Chain, Solana, Base, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.

In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.

For more information, visit:

Website
Twitter
Telegram
Discord

 

Contact

Rachel Cheung
media@bitget.com

The post Bitget Wallet Unveils ‘Smart Money’ Feature, Elevating Trading with AI-Enhanced Real-Time Insights appeared first on CoinJournal.

Sleepless AI Token ($AI) Now Listed on Bitget in the Innovation, GameFi and AI Zone

Victoria, Seychelles, January 5th, 2024, Chainwire

Bitget,the world’s leading cryptocurrency exchange and Web3 company, is excited to announce the listing of Sleepless AI Token ($AI) on its platform. This strategic move underlines Bitget’s commitment to providing users with access to innovative and promising projects in the blockchain space.

Sleepless AI, a cutting-edge project in the artificial intelligence sector, has developed $AI as the native utility token for its ecosystem. $AI plays a vital role in facilitating various functions within the Sleepless AI platform, ranging from accessing premium features to participating in governance decisions.

$AI serves as the native utility token within the Sleepless AI ecosystem, offering users access to premium features, governance participation, and the ability to stake for rewards. $AI holders actively contribute to decision-making processes, fostering a democratic environment. Staking options not only provide additional incentives for users but also enhance the stability and security of the Sleepless AI network. With advanced security features, $AI ensures a secure and seamless experience for participants.

Gracy Chen, Managing Director of Bitget, expressed enthusiasm about the Sleepless AI listing, stating, “We are thrilled to welcome Sleepless AI to the Bitget platform. The integration of $AI adds another layer of diversity and innovation to our ecosystem. As we continue to expand our offerings, our commitment to providing our users with access to cutting-edge projects remains unwavering. Sleepless AI’s focus on security aligns seamlessly with Bitget’s dedication to a secure and user-friendly trading environment.”

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

 

Contact

Rachel Cheung
media@bitget.com

The post Sleepless AI Token ($AI) Now Listed on Bitget in the Innovation, GameFi and AI Zone appeared first on CoinJournal.

Celsius set to unlock $470M Ethereum for creditor repayments

Celsius, in bankruptcy since 2022, begins unstaking 206,300 ETH ($468.5M) for creditor distributions.
Market speculates on a potential ETH “dump,” while some see Celsius’s move as relieving pressure on Ethereum.
Earlier focused on Bitcoin mining post-bankruptcy, Celsius faces scrutiny for abrupt strategic shift.

Embattled crypto lending platform Celsius is making waves as it unveils plans to recall and rebalance its crypto assets, particularly Ethereum (ETH), in preparation for timely creditor distributions.

With the platform in bankruptcy court since July 2022, customers eagerly await the return of their funds. This development sheds light on Celsius’s strategic moves and their impact on the crypto market.

Celsius initiates asset shift for timely distributions

Celsius has officially commenced the process of recalling and rebalancing its crypto assets, marking a crucial step in the platform’s journey since filing for Chapter 11 in 2022. The primary focus lies on unlocking Ethereum (ETH) holdings, currently staked for valuable rewards income.

As part of its recovery plan, Celsius is set to unstake a substantial 206,300 ETH, valued at an impressive $468.5 million in today’s market. The objective is to offset restructuring costs and facilitate the much-awaited distributions to creditors. This move aligns with the company’s commitment to providing transparency amid its restructuring process.

Market speculations surrounding Celsius’s ETH unlock

With nearly one-third of the pending ETH withdrawal queue belonging to Celsius, amounting to a staggering 206,300 ETH, market speculations arise. Some express concerns about a potential “dump” of Ethereum on the market, fearing adverse effects on its value. However, contrasting opinions highlight the positive long-term impact, anticipating relief for Ethereum as Celsius navigates its restructuring journey.

This strategic shift also follows Celsius’s earlier announcement of a scaled-back post-bankruptcy strategy, focusing on Bitcoin mining. However, the abrupt change in direction drew displeasure from the presiding judge overseeing the company’s bankruptcy proceedings.

In conclusion, Celsius’s move to unstake a substantial amount of Ethereum signifies a pivotal moment in its efforts to navigate the challenges posed by the crypto contagions of 2022. As the crypto lending platform takes concrete steps toward creditor repayments, the industry watches closely to understand the implications of this significant shift in assets. The liberated Ethereum holds the key to unlocking value for creditors, marking a potential turning point for Celsius in its post-bankruptcy strategy.

The post Celsius set to unlock $470M Ethereum for creditor repayments appeared first on CoinJournal.


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