Altcoins
Coinbase Adds Yet-To-Be-Launched Solana-Based Altcoin to Listing Roadmap
Published
4 weeks agoon
By
adminCrypto exchange Coinbase has announced it’s adding a new Solana (SOL)-based altcoin to its listing roadmap ahead of the token’s launch.
Announcing via the social media platform X, Coinbase says it’s adding Tensor (TNSR) to its listing roadmap.
Coinbase’s listing roadmap is designed to give a heads-up to users before the listing of any crypto assets to prevent insider trading and promote transparency.
Tensor is the most popular non-fungible token (NFT) platform on Solana, and will be launching its own token next week, according to a recent thread on X from the project.
TNSR tokens will be airdropped with “treasure boxes” for users of the Tensor protocol via the Jupiter (JUP) decentralized exchange (DEX) aggregator.
Tensor has periodically overtaken its fellow Solana-based NFT marketplace Magic Eden in volume, according to analytics platform TIEXO. At time of writing, Tensor has the highest number of unique wallets and the most newly created wallets in the last 24 hours.
Coinbase CEO Brian Armstrong has previously said the exchange aims to list as many crypto assets as possible, as long as they meet the company’s standards.
“It’s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it’s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Solana Co-Founder Says Cosmos and One SOL Rival Are Clear Winners in Building Sovereign Blockchains
Published
12 hours agoon
May 2, 2024By
adminSolana (SOL) co-founder Raj Gokal is naming two blockchains that have a head start in the sovereign blockchains crypto sub-sector.
At a TOKEN2049 panel discussion, Gokal says that Avalanche (AVAX) and Cosmos Hub (ATOM) are “the clear winners” with regard to sovereign blockchains.
A sovereign blockchain is typically under the control of a single entity, unlike public blockchains such as Bitcoin (BTC) which are decentralized.
According to Gokal, Cosmos Hub and Avalanche have some differences that set them apart.
“Cosmos is an old-school project and it’s not that coordinated. I think Avalanche brings the coordination and the ability for developers to configure their own chains how they want. So I like that about their design. And obviously, it’s a function of Emi’s [Gün Sirer] DNA and his great vision as a founder.”
On the Avalanche founder Emin Gün Sirer, Gokal further says,
“I think Solana loves competition. We love fierce competition, we love honest competition from people who have ferocity about the ideas they’re bringing to the table.
And I think Emin is probably the most ferocious layer-1 [blockchain] founder that I know. And he never backs down from a fight. But he will shake your hand behind the stage and he’s friends with everyone. And he’s been very supportive of a lot of founders.
So I think as an individual I have a lot of respect for Emin and what he’s brought to the space.”
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Altcoins
Ethereum and Altcoins Associated With ETH May Witness Rallies Sooner Than Expected, According to Santiment
Published
2 days agoon
May 1, 2024By
adminCrypto analytics firm Santiment thinks that Ethereum (ETH) and altcoins related to the top smart contract platform will leave many traders on the sidelines.
Santiment says it is keeping a close eye on Ethereum’s average transaction fee, which nosedived to its lowest level since October 18th, 2023.
According to the analytics firm, the slumping gas fee is a solid signal that Ethereum is in the midst of carving a local bottom.
“Ethereum’s average fee level has dipped to just $1.12 per network transaction, the lowest average cost in a day since October 18th.
Traders historically move between sentimental cycles of feeling that crypto is going ‘To the Moon’ or feeling that ‘It Is Dead,’ which can be observed through transaction fees. These fees will tend to peak (and sometimes diverge) around price tops, and go back to its resting state around price bottoms.
With markets mainly retracing over the past six weeks, the lack of demand and strain on the network may help turn ETH and associated altcoins around sooner than many may expect.”
At time of writing, Ethereum is trading for $3,218, up over 13% from its April low of $2,832.
Looking at altcoins operating in the Ethereum ecosystem, Santiment notes that a couple of coins are already showing signs of strength.
“Liquid staking assets have benefited from a nice mini-run this weekend. Of the 17 key assets that we track for this sector, the market caps have increased by a combined +5.0% despite choppy market conditions: LDO (+5.2%) and RETH (+5.9%) lead the way.”
At time of writing, Lido DAO (LDO) is trading for $2.15 while Rocket Pool ETH (RETH) is worth $3,547.
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Altcoins
XRP Can This 23 Million Token Purchase Spark A Rally?
Published
2 days agoon
April 30, 2024By
adminThe cryptocurrency market continues to navigate a period of sluggishness. Yet, a recent whale activity has injected a flicker of hope for XRP, the native token of Ripple. On Tuesday, a significant investor, commonly referred to as a whale, acquired a hefty 23 million XRP, sparking renewed interest in the embattled token.
Whale Movement: A Sign Of Shifting Tides?
The purchase was identified by Whale Alert, a platform that tracks large cryptocurrency transactions. The tokens originated from a Binance exchange wallet, with the recipient address remaining undisclosed. However, the fact that the recipient was a Binance user suggests potential for further trading activity.
This whale movement is seen by some analysts as a potential turning point for XRP. Historically, large-scale purchases by whales have often preceded price surges. However, some experts caution against overinterpretation. Whale activity can be driven by various factors, and a single purchase doesn’t guarantee a sustained upward trend for XRP.
🚨 23,037,429 #XRP (11,550,284 USD) transferred from #Binance to unknown wallethttps://t.co/K00G3Ry7ab
— Whale Alert (@whale_alert) April 29, 2024
Open Interest: A Mixed Signal
Adding a layer of complexity is the recent decline in XRP Open Interest (OI). As per data from Coinalyze, XRP OI has dipped by 2.12% over the past 24 hours. Open Interest reflects the total value of outstanding futures contracts for a particular cryptocurrency. A decrease suggests a potential reduction in leveraged positions, which could indicate short-term selling pressure.
However, analysts point out that the perpetual contracts, which constitute the majority of XRP OI, still hold significant weight at over $374 million. A renewed buying spree could trigger a reversal in the Open Interest trend, potentially propelling the price upwards.
Total crypto market cap currently at $2.19 trillion. Chart: TradingView
The Lingering Shadow Of The SEC Lawsuit
It’s impossible to discuss XRP’s future without acknowledging the ongoing legal battle with the US Securities and Exchange Commission (SEC). The lawsuit, which alleges XRP is an unregistered security, has undoubtedly cast a long shadow over the token’s performance.
While the recent “remedies phase” of the lawsuit hints at a potential settlement, investors remain cautious. The final outcome and its timeline are still uncertain, leaving a cloud of ambiguity over XRP’s regulatory status.
XRP Price Outlook: A Glimmer Of Optimism?
Currently, XRP is trading at around $0.50, a significant drop from its all-time high of over $3. The price reflects the broader market slump and the ongoing legal battle.
The recent whale purchase, coupled with ongoing negotiations in the SEC lawsuit, offers a glimmer of hope for XRP bulls. However, a sustained price increase hinges on several factors. A favorable resolution to the lawsuit and a broader market recovery are crucial for XRP to regain its lost ground.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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