Category Archives: Altcoin
Bitcoin, Ether slip but remain above key price levels while altcoins struggle to find momentum – Yahoo Finance
Bitcoin and Ether fell during Wednesday afternoon trading in Hong Kong but remained above key price levels, while most of the top altcoins were in the red. The altcoin bear market could last another two to six months, due to the Securities and Exchange Commissions (SEC) moves against these tokens, industry experts told Forkast.
See related article: Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelitys spot Bitcoin ETF application
Bitcoin inched down 0.21% from 7:20 a.m. to 4:30 p.m. in Hong Kong to US$30,735. Ether fell 0.61% in the same period to trade at US$1,929, floating above US$1,900 since Sunday.
On Tuesday, the price of Bitcoin, the worlds largest cryptocurrency, rose to US$31,371, its highest since June 2022, over optimism about spot Bitcoin exchange-traded fund applications by a raft of Wall Street heavyweights, including Blackrock.
While both Bitcoin and Ether remain firmly above key psychological levels, altcoins seem to lack momentum compared to the two largest cryptocurrencies.
The delisting of specific assets from US cryptocurrency exchanges in June has accentuated a demarcation in asset performance that has existed since the start of the bear market in 2021, Jamie Coutts, a senior market structure analyst at Bloomberg Intelligence, told Forkast in a statement.
Assets deemed commodities, Bitcoin and Ethereum (although not enshrined), have generated a collective return shy of 70% year-to-date and are 58% from their all-time highs. Meanwhile, SECurities have averaged a paltry 18.87% languishing 84% below their all-time highs, wrote Coutts, adding that the altcoin bear market could last another two to six months.
Altcoins have suffered from the SECs crackdown on tokens that they deem financial securities. Solana, Cardano, Polygon and BNB were among those that the regulator named as unregistered securities in its lawsuits filed against the Coinbase and Binance.US exchanges in early June.
Story continues
Litecoin was the days biggest loser in the top 10, falling 2.65% to US$104.49, followed by Binances BNB token that decreased 1.20% in the past 24 hours to trade at US$242.29.
Dogecoin increased 0.45% to US$0.06858, followed by Solanas Sol token that inched up 0.26% to US$19.20, as the days only two gainers in the top 10 cryptos.
The total crypto market capitalization over the past 24 hours fell 0.89% to US$1.2 trillion and market volume decreased 27.35% to US$27.24 billion, according to CoinMarketCap data.
The Forkast 500 NFT index rose 0.83% to 2,770.49 points in the 24 hours to 4:30 p.m. in Hong Kong but fell 3.35% during the week.
After a weak Tuesday, Bitcoins 24-hour non-fungible token sales rose 41.21% to US$3.53 million, as sales for $FRAM BRC-20 NFTs rose 3.19% to US$1.36 million.
Ethereums 24-hour NFT sales fell 22.24% to US$19.07 million, as sales for the largest Ethereum-native NFT collection, the Bored Ape Yacht Club, fell 20.44% to US$2.33 million, but Mutant Ape Yacht Club sales rose 29.44% to US$2.3 million.
The Forkast 500 NFT Index reflects declining sales prices across collections on all chains, but its Ethereum thats really dragging the market down with it, said Petscher, pointing to the recent problems with the Azuki NFT collection.
Azukis struggles exasperated the already struggling market Azukis new Elementals mint was supposed to be a boom for NFTs and instead was a bust, becoming a catalyst that drove NFT collections down to all-time lows.
Azuki sales continued their fall, decreasing 16.36% to US$1.66 million, after the new Azuki Elementals collection was criticized for being too similar to the original. The Azuki Elementals collection began minting last Tuesday and sold out in 15 minutes, but left collectors disappointed as the latest collection looked almost the same as the original.
Among the Forkast Labs NFT indexes, the Forkast SOL NFT Composite was the only one in the red, falling 0.75% to 791.91 points.
Major Asian equities weakened as of 4:30 p.m. in Hong Kong, as investors were cautious ahead of Chinese inflation data scheduled for release later this week, with the risk of deflation still weighing on the worlds second-largest economy.
The Caixin China General Composite purchasing managers index (PMI) a measure of the performance of both the manufacturing and services sectors in China dropped to 52.5 in June from 55.6 the previous month. This marks the sixth consecutive month of expansion for Chinas private sector. However, the growth rate was the slowest since January.
Employment in China also returned to growth, as the service sector created more jobs following a drop in manufacturing payrolls, according to Trading Economics.
Japans Nikkei 225 slipped 0.25% and the Shenzhen Component Index fell 0.91%. Hong Kongs Hang Seng Index lost 1.57% and the Shanghai Composite decreased 0.69%.
U.S. stock futures also fell during Wednesday afternoon trading in Hong Kong, as investors were concerned that continued monetary tightening could lead the U.S. economy into a recession.
The S&P 500 futures index slipped 0.33%, the tech-heavy Nasdaq-100 futures weekend 0.48% and the Dow Jones Industrial Average futures fell 0.3%.
Investors now anticipate the release of the minutes of Junes Federal Open Market Committee meeting, scheduled for later today, for more clues on the central banks upcoming monetary decisions.
Markets are expecting another 25 basis point interest rate hike this month, as Fed Chair Jerome Powell said that more rate increases are needed to bring inflation to the target 2%.
See related article: EU publishes draft bill for digital euro and cash payments
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Bitcoin, Ether slip but remain above key price levels while altcoins struggle to find momentum - Yahoo Finance
Why Cryptocurrency Prices are Lower on Binance US? – Altcoin Buzz
When people exchange cryptos in exchange for a price difference it is called Slippage. Usually, the difference is a few hundred dollars. But a good difference is made when large funds are handled.
However, Binance US is listing tokens at a lower price than usual. For example, ETH is $200 lower than normal. Why is this happening? In this article, well discover which factors are contributing to this intriguing market trend.
One of the key reasons for the lower cryptocurrency prices on Binance US lies in regulatory compliance. Binance US operates within the strict regulatory framework imposed by U.S. authorities. This includes adhering to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This contributes to increased transparency and accountability.
The implementation of robust compliance measures enables Binance US to attract institutional investors and retail traders who prioritize compliance and regulatory clarity. Consequently, the exchange benefits from a larger pool of liquidity, which ultimately influences cryptocurrency prices. Higher liquidity means a higher trading volume, leading to narrower bid-ask spreads and, potentially, lower prices.
Cryptocurrency markets are decentralized, allowing traders to take advantage of geographical arbitrage opportunities. Geographical arbitrage refers to profiting from the price differences of an asset in different regions. Although the price of cryptocurrencies is largely determined by global market forces, regional variations in supply, demand, and liquidity can lead to price discrepancies.
Due to its jurisdictional limitations, Binance US has a distinct market separate from its global counterpart, Binance.com. So, market inefficiencies can arise between these two platforms, creating opportunities for traders to exploit price differences. As arbitrageurs exploit these opportunities, prices tend to converge over time, leveling out the discrepancies. However, market inefficiencies can persist for various reasons, such as regulatory restrictions and differing user bases, leading to lower prices on Binance US.
The availability of trading pairs and exchange offerings also plays a role in the price differences across cryptocurrency exchanges. Each exchange has its unique set of trading pairs, which are essentially the combinations of cryptocurrencies that can be traded against one another. The variety of trading pairs on an exchange affects liquidity, trading volume, and ultimately, the price.
Binance US, being a U.S.-based exchange, must comply with local regulations and listing standards. As a result, the selection of trading pairs may differ from other global exchanges, including its parent platform, Binance.com. The limited range of trading pairs on Binance US can impact liquidity and demand for certain cryptocurrencies, potentially leading to lower prices compared to exchanges offering a broader array of options.
The competitive landscape among cryptocurrency exchanges also contributes to price disparities. To attract users and encourage trading activity, exchanges often employ different fee structures and promotional incentives. These factors can influence traders decisions on where to execute their trades, thus affecting liquidity and prices.
In an effort to establish a foothold in the highly competitive U.S. market, Binance US has introduced attractive fee structures, discounted trading fees, and other incentives to incentivize traders. By offering more favorable terms, Binance US aims to attract a larger user base, boost liquidity, and maintain lower prices relative to its competitors.
The lower cryptocurrency prices observed on Binance US compared to other exchanges can be attributed to a combination of factors. Regulatory compliance and adherence to KYC/AML standards enhance transparency and attract institutional investors, thus increasing liquidity and potentially leading to lower prices. Geographical arbitrage opportunities and market inefficiencies can persist due to jurisdictional restrictions, resulting in price discrepancies. The selection of trading pairs and exchange offerings also affects liquidity and demand, influencing prices. Additionally, competition among exchanges, with varying fee structures and incentives, plays a significant role.
As the cryptocurrency market continues to evolve and regulatory landscapes evolve, it is essential to keep a close eye on the factors contributing to price differences across exchanges. By understanding the dynamics behind these disparities, traders and enthusiasts can make informed decisions while navigating the exciting and often volatile world of cryptocurrencies.
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Why Cryptocurrency Prices are Lower on Binance US? - Altcoin Buzz
5 Bitcoin and Altcoin Exchanges Without KYC & AML (2023) – Medium
Looking for No KYC exchanges?
If you are, you have come to the right place.
I am going to tell you about a few altcoin exchanges that allow you to trade without going through the KYC and AML check. Not only this, there are no withdrawal or deposit limits to stop you from buying/selling bags of altcoins.
Needless to say, this will be the norm once the decentralized exchanges increase their market share, which I think is going to take a while.
Tip: Its better to create a new email account using something like Protonmail, which does not track your activities and use a browser like Brave or use any no logs VPN to accessing these no KYC exchanges more privately.
Until then, we can use these services, some of which are centralized and some of which are decentralized, to avoid KYC and AML to protect your privacy.
MyCoinChange is one of the best cryptocurrency exchange, and mixers on the market that supports all popular Altcoins and let you use the platform anonymously. They have a strict no KYC and no logs policy, perfect for every user, anywhere. Its a centralized exchange which does not push you to complete the KYC or AML in order to use its services.
There is no ID verification registration that you need to do for using their services. For enhanced security, you can even use this service with a VPN.
This exchange is registered in Sweden and outside the jurisdiction of the USA, China, or other countries that could ask for users data.
Use MyCoinChange with no KYC
Binance is one of the next best cryptocurrency exchanges that supports all popular Altcoins and lets you use the platform anonymously. You dont need to do KYC for basic usage.
For those looking for more than spot trading, you also get access to Margin and future trading on the same platform.
This exchange is registered in Malta and outside the jurisdiction of the USA, China, or other countries that could ask for users data.
Use Binance with no KYC
Bybit is a popular no KYC derivative exchange that supports USDT perpetual and Inverse perpetual contracts. You can trade BTC, ETH, XRP, EOS, and USDT coin. Check out my review of Bybit to learn more about how this no KYC exchange works.
Join Bybit
BitSquare is a peer-to-peer marketplace for cryptocurrencies like BTC, ETH, etc. It is a fully decentralized exchange which requires no name, email ID, or verification, so there is no question of KYC or AML.
Also, your privacy is secured because it uses Tor and doesnt hold fiat or bitcoins on their servers or in their account. Currently, it supports 126 cryptocurrencies (including BTC) and is available on Windows, Mac, and Linux platforms. The trade volumes, however, are low.
The volume at the time of writing on this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it.
Sign up at BitSquare
Bitmex is another centralized Altcoin exchange that doesnt require you to undergo AML and KYC for deposits and withdrawals.
Despite it being a predominantly BTC exchange, you will also find some altcoins like DASH, Cardano, Bitcoin Cash, Ethereum, Ethereum Classic, etc.
When you use the Bitmex exchange, you need not worry about liquidity because it has a humongous volume of over 126,000 BTC with a ranking in the top 10 on CMC.
Join Bitmex
I think not requiring AML and KYC will become more mainstream this year because a lot of decentralized exchanges are in the pipeline, which may put the centralized exchanges under pressure to get rid of the KYC requirements.
Also, having AML and KYC goes against the basic tenant of decentralized currencies, which is why we are witnessing the unprecedented development of decentralized infrastructure, which is putting privacy at the forefront.
Well, that is all from my side.
Now it is time to hear from you: If you know more altcoin and cryptocurrency services that dont require AML & KYC, share them with us in the comment section below.
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5 Bitcoin and Altcoin Exchanges Without KYC & AML (2023) - Medium
Why Blackrock is Promoting Bitcoin? 3 Possible Reasons – Altcoin Buzz
The CEO of BlackRock made statements encouraging people to invest in Bitcoin. This shift in stance from a traditionally conservative and risk-averse firm raises several questions.
In this article, we analyze three potential explanations for BlackRocks CEO embracing Bitcoin.
One plausible reason behind BlackRocks CEO advocating for Bitcoin is the recognition of the burgeoning demand among investors. In recent years, Bitcoin has gained significant traction as an alternative investment. Appealing to both retail and institutional investors seeking higher returns. By embracing Bitcoin, BlackRock may be positioning itself to tap into this growing market demand. Expanding its investment offerings to capture potential profits.
Institutional investors like BlackRock understand the importance of catering to their clients evolving preferences. With the increased institutional adoption of Bitcoin, BlackRocks endorsement could be viewed as a strategic move. The goal is to align its investment strategies. This, of course, with the changing landscape of the financial industry. By embracing Bitcoin, BlackRock positions itself as an innovative and forward-thinking institution. Potentially attracting new clients who value the inclusion of cryptocurrencies in their portfolios.
Another plausible explanation for BlackRocks CEO endorsing Bitcoin is the pursuit of diversification and risk management strategies. Traditional portfolios often consist of a mix of stocks, bonds, and other asset classes. In an increasingly interconnected and volatile global economy, diversification is key to managing risk and maximizing returns. By introducing Bitcoin as a viable investment option, BlackRock seeks to diversify its clients portfolios, potentially mitigating risk and improving overall performance.
So, considering Bitcoins historical performance, characterized by its relatively low correlation with traditional asset classes, such as stocks and bonds, offers an attractive avenue for diversification. BlackRocks endorsement of Bitcoin can be seen as an attempt to provide clients with exposure to a non-traditional asset that has the potential to enhance portfolio returns while reducing overall risk.
The third possible explanation for BlackRocks CEO promoting Bitcoin is the recognition of the underlying blockchain technologys transformative potential. Blockchain technology, the decentralized ledger system that powers Bitcoin, has gained attention across various industries for its ability to streamline processes, enhance security, and revolutionize business models.
By endorsing Bitcoin, BlackRock may be signaling its interest in harnessing the benefits of blockchain technology. The company could be exploring avenues to integrate blockchain solutions into its existing operations, such as asset management, trade settlement, or identity verification. So, embracing Bitcoin allows BlackRock to position itself as a pioneer in adopting disruptive technologies, potentially gaining a competitive edge in the rapidly evolving financial landscape.
While the motivations behind BlackRocks CEO encouraging Bitcoin investments may vary, these three explanations provide a plausible framework for understanding their shift in stance. Whether driven by the recognition of market demand, the pursuit of diversification and risk management, or the desire to capitalize on blockchain technology, BlackRocks endorsement of Bitcoin signals a potential evolution in the financial industrys perception of cryptocurrencies.
As Bitcoin continues to disrupt traditional investment paradigms, it will be interesting to observe how other institutional players respond and adapt to this new landscape.
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Privacy Coin Explodes Over 300% As Bullish Sentiment Brews in Altcoin Markets: Santiment – The Daily Hodl
The market cap of one privacy-focused blockchain project is exploding in value, according to crypto analytics firm Santiment.
Santiment says that the market cap for altcoin Verge (XVG) more than tripled in just two days as bullish sentiment soared.
The market cap of Verge has more than tripled (+209%) in just 48 hours, and its unsurprisingly the top trending asset in crypto. XVG is seeing tremendous bullish sentiment, as our AI (artificial intelligence) bot explains. But watch for the FOMO (fear of missing out ) effect.
Verge is a privacy-focused blockchain seeking to offer a fast and efficient decentralized payments network that improves upon the original Bitcoin (BTC) blockchain.
Verge is worth $0.00615 At time of writing, down 27.4% during the last 24 hours.
The Verge market cap reached a local high of $144,577,725 on Monday. At time of writing, the market cap declined to $101,616,789.
Santiment is also predicting that some altcoins may soon make a run to the upside after Bitcoin soared in social dominance since the start of the year.
The firm predicts likely bounces for such alt projects as Ethereum (ETH), Cardano (ADA), XRP and Binance Coin (BNB).
With Bitcoins rise in price dominance in 2023, its no surprise to see that greater attention is being paid to cryptos #1 market cap asset. But keep an eye on ETH, ADA, XRP, BNB, and other assets that are seeing little attention by comparison.
Featured Image: Shutterstock/jovan vitanovski/Sensvector
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Privacy Coin Explodes Over 300% As Bullish Sentiment Brews in Altcoin Markets: Santiment - The Daily Hodl
The Next 30X Early Altcoin Gems – Altcoin Buzz
We are in the early bull market.Nonetheless, most altcoins are still down around 90%. It seems to be the best time to identify and accumulate these altcoins that can give us an easy 30x return or even more.
I call them early gems. In this article, you will discover 3 very interesting altcoin gems that are ready to explode.
My first pick is Chainge Finance (CHNG). Currently, theres a limit to the number of what my team and I see as good projects. However, Chainge made the cut. So, what is Chainge all about? It offers:
All of this is on their mobile app. Currently, it has over 100k+ downloads on Google Play. Other features are in the making, for example:
The current price of the CHNG token is $0.0875. It has a market cap of $38.5 million. Theres a max supply of 814 million tokens and a total supply of 716 million. The circulating supply is 440 million. So, that looks good for starters. What I like about the token is that it is deflationary. They buy back tokens with 25% of their profits and burn them. During the last year, the token is up by 190%.
DJ Qian is the CEO. For example, he is also CEO of the FUSION chain foundation and co-founder of Anyswap. He and his team managed to get good tokenomics for this project. This project has an early gem written all over it. Thats why it is in this video. Now, lets move on to my second pick,
The Morpheus Network is a supply chain blockchain. It looks to automate and optimize supply chain operations. They also offer their services to governments. For example, Argentina. But also, big companies, like Coca-Cola, already use their service.
So, Morpheus makes logistics easier. Think, for example:
All this with the added feature that it is tamper-free. They use IPFS for this or the InterPlanetary File System. Theres also something that gives them a head start. They are compliance-focused. You only have to look at the current SEC situation in the US. Thats some good thinking and acting by Morpheus.
Here are some other features that Morpheus offers. For instance,
Their MNW token also has some good use cases:
At the time of writing this article, its price is $1.02. It has a market cap of $38.4 million. Theres a max and total supply of 47,897,218 tokens. There are already 37.5 million tokens in circulation. During the last year, this token is 199% up in value. And off we go to my last pick, Radiant Capital.
What we see in crypto, is a variety of money markets all over the DeFi space. Each has its own liquidity. The result is that all this liquidity is extremely fragmented. And guess what, thats where Radiant Capital comes to the rescue.
So, Radiant wants to be the first omnichain money market. In other words, you can deposit any asset on any chain. You can also borrow a variety of assets across various chains.
You can find their cross-chain interoperability on top of Layer Zero. Currently, you can connect their app to Arbitrum and the BNB chain. This makes the Stargate router their preferred interface. However, there are of course other bridging options available. For instance, Celer Bridge or Synapse Protocol.
So, heres a sample of how this works. Once youre ready to reclaim your collateral, you can decide which chain to withdraw from. Furthermore, you can set which percentage should go to each chain. Their recent V2 update has some exciting and revolutionary options. For example:
You can also lock your LP tokens and vote in the DAO.The current price of the RDNT token is $0.2675. Its market cap is $73.6 million, so thats looking good. There is a 1 billion max and total supply of RDNT tokens. However, only 275.3 million.A year ago, when the launched, it had a price of $0.16. So, theres plenty of potential.
So, are you already familiar with one of these three tokens? Maybe you hold one of them already? Let me know in the comments.
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Crypto News Today: Are We There Yet? Community Eagerly Await … – Tekedia
As the cryptocurrency market continues to evolve, recent developments have sparked a wave of excitement and speculation among crypto enthusiasts. With Manchester Citys partnership with OKX and the regulatory actions against Binance by the Securities and Exchange Commission (SEC), the Crypto Community is buzzing with the excitement of so many developments this week. Furthermore, BEASTS Coin (BEASTS), a promising altcoin, is positioning itself for the upcoming altcoin season, where it could skyrocket.
Manchester Citys recent partnership with OKX, a prominent cryptocurrency exchange, has made waves in the sports and crypto communities alike. This groundbreaking 55 million shirt deal is a testament to the growing acceptance and adoption of cryptocurrencies. By leveraging the reach and popularity of Manchester City, OKX aims to increase its brand exposure and attract a broader user base.
The collaboration between a major sports team and a cryptocurrency exchange marks a significant milestone in the cryptocurrency industry. It highlights the potential of cryptocurrencies to become mainstream and integrated into everyday activities.
This strategic alliance showcases the increasing role of cryptocurrencies in the global market and further solidifies their position as a legitimate form of value exchange.
On the other end of the spectrum, the Securities and Exchange Commission (SEC) has been cracking down on Binance, one of the largest cryptocurrency exchanges in the world. The SECs stringent actions have raised concerns and questions about the future of the crypto landscape without the presence of Binance.
The regulatory scrutiny imposed by the SEC highlights the challenges faced by the cryptocurrency industry in terms of compliance and regulation. It emphasizes the importance of establishing robust frameworks and adhering to regulatory guidelines to foster trust and stability within the market. While Binances current situation raises uncertainties, it also serves as a wake-up call for the industry to prioritize compliance and ensure investor protection.
Amidst these industry developments, BEASTS Coin (BEASTS) has been making significant strides in strengthening its ecosystem and technology, positioning itself for the upcoming altcoin season. With a focus on adoption and innovation, BEASTS aims to provide users with a seamless and rewarding cryptocurrency experience.
BEASTS distinguishes itself by leveraging cutting-edge technology and a robust ecosystem. Its emphasis on user-centric features and continuous improvement sets it apart from other altcoins in the market. The projects presale has garnered significant attention and support, indicating investor confidence in its potential.
As altcoin season approaches, BEASTSs strong fundamentals and growing ecosystem make it an attractive option for crypto enthusiasts looking to diversify their portfolios. With a visionary roadmap and dedicated team, BEASTS aims to establish itself as a leading player in the altcoin market.
The cryptocurrency landscape is undergoing significant transformations, driven by recent developments involving Binance, BEASTS Coin (BEASTS), and even Manchester City. Manchester Citys partnership with OKX signifies the increasing acceptance of cryptocurrencies in mainstream industries, while the SECs actions against Binance shed light on the importance of regulatory compliance.
Amidst these changes, BEASTS stands out as a promising altcoin, with a strong ecosystem and technology ready for the upcoming altcoin season. Its emphasis on adoption and continuous improvement positions it favorably in the competitive cryptocurrency market.
Speculating on whether we are entering the altcoin season and identifying the best alts to have exposure to requires careful analysis of the market dynamics. As the crypto landscape continues to evolve, keeping a close eye on cryptocurrency news, regulatory developments, and innovative altcoin projects such as BEASTS will be crucial for informed decision-making.
BEASTS Coin:
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
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Crypto News Today: Are We There Yet? Community Eagerly Await ... - Tekedia
NFT News | NFTs Are Cheap Right Now | July Week 1 – Altcoin Buzz
As we kick off the month of July, Bitcoin and Ethereum have continued to make waves with their price movements. However, this week brings a slight twist in their fortunes. Bitcoin has experienced a dip, settling at $30,102.55 with a decrease of 0.5%. Similarly, Ethereum has also taken a step back, at the time of writing trading at $1,856.09, marking a decline of 0.5%.
It begs the question: Will this downward trend persist, or are we in for a surprise turnaround? And more importantly, how has this affected the NFT market? Lets delve into the details and uncover the unfolding story of the NFT market this week.
It is still a tough opening for the NFT market in July. The NFT market continued to face ongoing challenges, mirroring the preceding weeks. Despite attempts to tackle these issues, the market still grappled with obstacles, necessitating a thorough analysis of its dynamics and components. This week, the total trading volume stood at $84.95 million, experiencing a moderate decline of 16.67%. The dip in trading volume highlights the prevailing difficulties and hints at waning interest and involvement from traders, underscoring the need for further exploration and adaptation in the market.
This week, we observed a steady growth in individuals embracing NFTs as investments, as NFT holders reached 4,568,380. This figure showcases an encouraging increase of 0.37%, which is on par with the previous weeks progress.
The number of active NFT traders experienced a slight decline, with a decrease of 2.82%. The trading activity in the NFT market has been experiencing a downward trajectory. Similarly, the count of sellers also saw a minor decline, settling at 31,403, representing a decrease of 0.98%. This decrease in sellers further supports the notion of a temporary deceleration in the market.
During the previous week, the OpenSea platform observed a reduction in significant metrics. The total count of distinct and active wallets engaged in transactions decreased by 6.08%, reaching 60.69k. This decline indicates a continuation of the trend witnessed in the preceding week. Moreover, the number of transactions on the platform experienced a substantial drop of 10.18%, settling at 144.22k. Similarly, the trade volume saw a minor decline of 4.51%, amounting to $28.84M. However, there was a positive development in the smart contract balance, which increased by 1.23% to $66.51k. This rise suggests an incremental growth in the overall funds held within smart contracts on the OpenSea platform.
4) Mixed Numbers In Blur Activity
This weeks data highlights a continuation of the ongoing fluctuation and dynamics within the Blur market, showcasing some interesting developments in trading activity. There has been a contradiction of the trend observed last week, with a decrease in several key aspects. The total number of unique active wallets currently stands at 15.92k, with a decline of 5.72% compared to the previous week. This indicates a sustained decrease in the number of participants engaged in trading on the market.
The number of transactions experienced a significant drop of 14.4%, totaling 50.01k. This is a decrease in the overall value of transactions on the market. The smart contract balance showed a significant bounce of 4.11%, currently at $116.16M.
This week, the trading volume for Solana NFTs is 19.74k, representing an increase of 5.17% compared to the previous week. The trading volume has experienced a positive growth trend. The graph below suggests that Solana NFTs trading volume may continue to rise in July.
The NFT market has witnessed noteworthy changes across various platforms in the past week. Lets analyze the statistics from the previous week and compare them with the latest data.
OpenSea, one of the prominent NFT platforms, experienced a significant decline in the average NFT price, dropping by 35.61% to settle at $16.51. However, there was an encouraging increase in the number of traders, which rose by 12.9% to 8,335. Despite this rise, the trading volume saw a modest decline of 9.64%, amounting to $347.55k.
At the OKX NFT Marketplace, the average NFT price declined by 13.62% to $32.91. The number of traders witnessed a slight decline of 2.39%, settling at 490. Conversely, the trading volume showed a 10.14% decrease, totaling $24.3k.
7) Quick News Round-Up
1. NFT Prices Plummet as Azuki Drops 11% and Bored Apes Decline by 16%.
2. DeGods NFT Project Breaks Away from Traditional Roadmaps, Embraces Facebook-Inspired Strategy
3. Delayed Cryptozoo NFT Refunds Spark Controversy as Logan Paul Faces Backlash
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NFT News | NFTs Are Cheap Right Now | July Week 1 - Altcoin Buzz
How to Earn Bitcoin With the Xverse Wallet – Altcoin Buzz
When we explore DeFi protocols, we always look to make a profit in stablecoins. Or maybe in a solid token. However, there is a much better option: Have BTC rewards.
In this article, you will discover how you can earn BTC rewards using a wallet app. We are talking about the Xverse Wallet. Before we dive into the specifics of earning Bitcoin through staking STX tokens, its essential to grasp the fundamentals.
Stacks is an open-source blockchain project that connects to the Bitcoin network, enabling smart contracts and decentralized applications (dApps) to be built on top of the Bitcoin blockchain.
Stacking, in the context of Stacks, refers to the process of locking your STX tokens as collateral to support the networks consensus mechanism. Now, Lets get into the step-by-step guide.
To get started with staking STX tokens, youll need to take a few preliminary steps:
When it comes to staking STX tokens, you have two primary options:
In this case, well use an internal feature of the Xverse Wallet. Here is a picture of the app:
Nowadays, you need to at least deposit 100 STX to use this feature and youll earn 10% in BTC. The exact amount of Bitcoin earned depends on various factors, such as the number of STX tokens staked, the duration of staking, and the overall network performance. Staking rewards are typically distributed periodically, allowing you to accumulate Bitcoin over time.
In this case, the Stacks stake mechanism works in cycles. These cycles last about 15 days. For example, if you invest 1000 STX, after the stake cycle you will have the equivalent of 100 STX in BTC.
After initiating the stacking process, its important to keep track of your staked STX tokens. Most staking platforms provide intuitive dashboards or interfaces where you can monitor your earnings, view transaction history, and track the performance of your staking activities. You will find this info in the Dashboard of the Xverse Wallet.
Note: Stay informed about any updates or changes in the stacking protocol to ensure your staking setup remains secure and up to date.
Staking STX tokens to earn Bitcoin presents an exciting opportunity for crypto enthusiasts to grow their digital asset holdings. By understanding the basics of Stacks and following the steps outlined in this guide, you can confidently embark on your staking journey and potentially benefit from passive Bitcoin earnings while supporting the Stacks network.
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DeFi Dominators: Exploring The Rise Of Solana, Polkadot, and … – Tekedia
The cryptocurrency landscape continues to evolve rapidly, captivating the attention of investors worldwide. Amidst the wave of altcoins revolutionizing the realm of DeFi, the question of Which Altcoin should I invest in? arises in many minds. Look no further as we delve into the potential of Solana, Polkadot, and BEASTS Coin (BEASTS). Polkadot and Solana, established residents in the market, boast impressive offerings, while the newcomer BEASTS Coin shows promising prospects. Join us as we explore the distinctive characteristics and ambitious objectives that distinguish these altcoins from their peers.
Solana is a blockchain network specifically designed for creating cryptocurrencies like Bitcoin and Ethereum. Its remarkable feature is its lightning-fast transaction speeds, capable of handling nearly 50,000 transactions per second, surpassing the likes of Ethereum. Solana offers functionalities such as application development and SOL token mining. It ensures secure and censorship-resistant transactions by utilizing the RUST programming language and the innovative Proof of History mechanism. Additionally, Solana has expanded into the smartphone market with Saga, an Android phone that provides easier access to web3-focused crypto products and services, breaking away from traditional computer reliance.
Polkadot is a decentralized protocol with a token called DOT. It enables secure communication between different blockchains, facilitating the transfer of value or data without intermediaries. To achieve scalability, Polkadot utilizes parallel blockchains called parachains that offload processing from the main blockchain and allows a shared group of validators to secure multiple blockchains. This also ensures transactional scalability. The DOT token allows holders to influence the protocols future development. Additionally, DOT is used for staking, which is a mode for passive income generation.
Meet Rabbit 4001, a rabbit now transformed into a brilliant yet mad scientist, out to avenge his leader, Dr. Jekyll.
Welcome to the BEASTS Coin universe! Immerse yourself in a presale unlike another, where the tokens progress parallels the storyline: Rabbit 4001 injects mutagens, cybernetic enhancements, and formidable weapons into young animals, creating a new beast at every presale stage. Not only is this a clever symbol for the unstoppable growth of locked funds, but each beast also propels the expansion of the tokens upcoming NFT Space. Brace yourself for an immersive experience brimming with ingenious metaphors, intricate worldbuilding, and unparalleled community engagement that will leave you spellbound.
The referral scheme, for example, allows holders to bag a 20% USDT commission instantly. All you have to do is visit the website, select the Earn USDT option, connect your wallet, and generate a referral code to share. Each user can earn a generous 20% of any deposits made by their referrals, which is automatically added to their wallet. Thats not all: the user who uses the referral code also receives a 20% share.
As the Altcoin market grows and transforms the DeFi landscape, it is crucial to exercise due diligence and conduct thorough research before investing in any project. Solanas path, for instance, faces uncertainty due to its ongoing conflict with the SEC, leaving its future prospects in question. On the other hand, BEASTS Coin emerges as a promising contender, poised to lead the imminent DeFi Revolution. Prepare yourself for the transformative impact of BEASTS in the crypto space.
Join the BEASTS Coin (BEASTS) RevolutionWebsite: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
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DeFi Dominators: Exploring The Rise Of Solana, Polkadot, and ... - Tekedia