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Kraken Announces New Onchain Crypto Staking Program for US Clients Two Years After SEC Crackdown

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One of the top US-based crypto exchanges is launching a revamped crypto staking program two years after the U.S. Securities and Exchange Commission (SEC) forced a similar initiative to shutter.

According to Kraken, US clients in 37 states and two territories can stake 17 assets onchain starting today.

Kraken clients residing in Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Louisiana, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wyoming, District of Columbia, and Puerto Rico can now stake Ethereum (ETH), Solana (SOL), Cosmos (ATOM) and 14 other Proof-of-Stake tokens through the exchange.

Says Mark Greenberg, Kraken Global Head of Consumers, of the staking re-launch,

“Launching this new staking product in the US is an overwhelmingly positive development, not just for Kraken but also for the entire US crypto space.

We are excited to bring back a brand new product enabling US clients to resume staking with Kraken and play a significant role in bolstering the underlying security of blockchain networks.”

The announcement comes two years after the SEC ordered Kraken to discontinue its staking-as-a-service program. Kraken also had to pay $30 million to settle the suit.

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Lido Spikes 20% Following Kraken’s Staking Relaunch In Select US States

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Ash is a dedicated crypto researcher and blockchain enthusiast with a passion for diving deep into the evolving world of decentralized technologies. With a background in writing and a natural curiosity for how digital assets are shaping the future, he has immersed himself in various sectors of the cryptocurrency space, including decentralized finance (DeFi), NFTs, and liquidity mining. His journey into crypto started with a desire to fully understand the technology behind it, leading him to explore and engage with these systems firsthand.

Ash’s approach to DeFi goes beyond surface-level research as he actively participates in decentralized protocols, testing their functionality to gain a deeper understanding of how they operate. From experimenting with staking mechanisms to exploring liquidity mining strategies, he is hands-on in his exploration, which allows him to provide practical, real-world insights that go far beyond theoretical knowledge. This immersive experience has helped him develop a comprehensive grasp of smart contracts, token governance, and the broader implications of decentralized platforms on the future of finance.

In the NFT space, Ash’s interest is driven by the technology’s potential to reshape ownership and creativity in the digital age. He has explored various NFT projects, gaining insights into how these digital assets function within different ecosystems. His focus is on understanding the evolving relationship between creators and communities, as well as the innovative uses of blockchain technology to establish authenticity and provenance in the digital world. Ash’s research in this area often touches on the intersection of culture, technology, and community-driven projects.

A key area of his expertise lies in liquidity mining, where he has engaged with various decentralized platforms to understand how liquidity provision contributes to the functionality and security of DeFi ecosystems. Ash’s hands-on involvement has allowed him to analyze the risks, rewards, and broader implications of liquidity pools, giving him a well-rounded perspective on this integral part of DeFi. His understanding of risk management and protocol design allows him to provide insights into how these systems can be navigated effectively, with an emphasis on both opportunity and caution.

When it comes to communicating these complex topics, Ash’s writing is grounded in clarity and depth. He excels at breaking down intricate blockchain concepts into easily digestible information for a wide audience. Whether explaining the workings of decentralized exchanges or outlining the future potential of blockchain technology, Ash ensures that his content is accessible to both those new to the space and experienced participants looking for deeper insights.

Beyond DeFi and NFTs, Ash explores a wide array of emerging blockchain applications. His research spans areas like cross-chain technologies, decentralized governance, and blockchain’s potential to integrate with traditional finance. He is continuously learning and adapting to the latest developments, ensuring that his insights are both timely and relevant. His interest extends to how these technologies are creating new possibilities for decentralization, transparency, and trust in a variety of industries.

Ash’s commitment to engaging with the crypto space firsthand gives him a unique perspective that goes beyond what can be learned from research alone. His practical involvement allows him to stay ahead of the curve, offering readers and enthusiasts a clear and comprehensive understanding of the rapidly evolving world of blockchain. Whether delving into the technical mechanics of DeFi or exploring the cultural impact of NFTs, Ash’s approach is always rooted in curiosity, research, and a desire to make this technology accessible to all.



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Will HYPE Price Skyrocket As Staking Launches on HyperLiquid Mainnet?

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The launch of HYPE token staking on HyperLiquid’s mainnet marks a major development for the network and its users. This new feature allows HYPE holders to stake their tokens with validators, earning rewards while contributing to the security and decentralization of the platform.

HYPE Staking Goes Live on HyperLiquid

HYPE token staking is now available on HyperLiquid’s decentralized exchange, the Hyper Foundation announced. The foundation also stressed the importance of staking for the security of the network and attracting more people to the project.

”With staking, the various users in the HYPE staking community can collectively secure the network,” the Hyper Foundation said in a post that was shared on X.

Staking allows users to transfer their tokens to trusted validators so that the users can receive more tokens depending on the performance of the validators. The validators take an active part in proposing new blocks for the network based on the amount of staked HYPE. The foundation also recommended checking validator metrics such as uptime and time online, reputation and reviews, commission rates, and contributions to the community.

More than 320 million HYPE tokens have been staked across many validators as of now. In the HyperLiquid platform, the rewards are only given to the validators who have successfully participated in consensus, which is why it is crucial to select the proper validators.

Plans to Strengthen Decentralization

During the presentation, the Hyper Foundation unveiled the Delegation Program that will be used to incentivize the most efficient validators. While the specifics of the programme have not been made public yet, the foundation said that it would be rewarding validators active in the ecosystem and its protection.

The staking system also includes the possibility to use locked HYPE tokens. However, rewards from these tokens are currently non-withdrawable until the lockup period is over. This mechanism promotes long term loyalty to the network while at the same time balancing the reward sharing system.

Consequently, the success of HyperLiquid is in line with the general trend of the DeFi industry. Grayscale Research recently added HYPE into the Top 20 diversified crypto assets list where the company highlighted network growth, adoption, and sustainability as major factors for such inclusion. Other tokens on the list are Ethena’s ENA, Virtual Protocol’s VIRTUAL, Jupiter’s JUP, Jito’s JTO, and Grass.

HYPE/USD: Source: CoinglassHYPE/USD: Source: Coinglass
HYPE/USD: Source: Coinglass

On the derivatives market, HYPE has observed an increase in its open interest which is now at $585.90 million from a previous 0.98%. In addition, the trading volume increased by 21.75% to $318.03 million which shows that more people are participating in the market as staking is gradually becoming popular.

Will HYPE Price Breakout To $36?

Since the token generation event that took place on the 29th of November, HYPE has shown exceptional price appreciation, with the coin rising by over 640%. The token reached its peak at $34 on December 22, and has since remained fairly constant at around $28. At the moment, HYPE has a total supply of 333.9 million tokens, which is trading at a $9.3 billion market cap and has a fully diluted valuation of $27.9 billion.

Concurrently, HYPE’s price chart indicates a bullish breakout from a falling wedge formation, a common reversal signal. However, the price has moved sideways after the breakout, signaling a consolidation phase. Analysts project a potential price target of $36, based on the wedge’s height, provided bullish momentum resumes.

HYPE/USD : Source: TradingView)HYPE/USD : Source: TradingView)
HYPE/USD : Source: TradingView)

Technical indicators show mixed signals. The Relative Strength Index (RSI) hovers near 47, slightly below the neutral 50 level, suggesting weak momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) displays bearish tendencies but shows signs of flattening, potentially signaling waning selling pressure.

Key support lies around $26.50, with resistance between $28 and $29. A breakout above this range could propel the price toward $36. Conversely, failure to hold support at $26.50 might invalidate the bullish outlook.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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