Cosmos
Algorithm Known for Outperforming Crypto Markets Favors Ethereum (ETH), Terra (LUNA), Solana (SOL) and One Additional Altcoin
A robot that’s earned a reputation for outperforming the markets is revealing its latest crypto portfolio allocations. Every week, the Real Vision Bot conducts surveys of cryptocurrency-related data in order to create an algorithmic portfolio assessment consistent with the consensus of the “hive mind.” Real Vision says that the bot has had an “astonishing” record […]
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Crypto Analyst Examines Cardano (ADA), Cosmos (ATOM) and Three Other Altcoins, Reveals What To Watch Out For
Widely-followed crypto analyst Michaël van de Poppe is revealing five altcoins he has set his eyes on, highlighting important price zones for the digital assets. Starting with Cardano (ADA), Van de Poppe tells his 582,800 Twitter followers that the ninth-largest cryptocurrency by market cap would only be of interest to him if it reclaims the […]
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Kava turns bullish as Ethereum Co-Chain launch initiates push toward EVM compatibility
KAVA price continues to trend upward as excitement builds over the upcoming launch of Ethereum and Cosmos Co-Chains.
Protocols in the Cosmos ecosystem have seen a significant amount of growth in 2022 due to the intensifying focus on blockchain interoperability and compatibility with the Ethereum network.
One protocol that has seen a buildup in momentum since the middle of March is Kava, a project that is developing a co-chain architecture for the Cosmos and Ethereum network.
Data from Cointelegraph Markets Pro and TradingView shows that the price of Kava’s native token KAVA has climbed 72.3% after hitting a low of $2.92 on March 13 to establish a daily high of $5.03 on April 8.
Three reasons for the increase in price and momentum for KAVA include the Ethereum Co-Chain beta launch, the launch of a $750 million developer incentive program and a series of partnerships and protocol launches that have expanded the size of the Kava ecosystem.
Ethereum Co-chain beta launch
One of the most anticipated developments to come out of the Kava ecosystem was the successful completion of the alpha phase of the Ethereum Co-chain launch.
Ethereum Co-Chain Alpha was AMAZING!
— Kava Network (@kava_platform) April 7, 2022
Beta is LIVE & already a powerhouse.
Mainnet launches May 10th, 2022! #Kava #EVM pic.twitter.com/tnfyAkeLoN
The Ethereum Co-Chain enables support for Ethereum Virtual Machine (EVM) smart contracts while the Cosmos Co-Chain enables support for the Tendermint consensus engine and the Inter Blockchain Communication Protocol (IBC). A translator module connects the co-chains and allows for seamless interoperability between the networks.
The mainnet launch of the Ethereum Co-Chain is expected to take place on May 10.
Kava launches a $750 million developer incentive program
A second reason for the building strength of KAVA was the March 3 launch of Kava Rise, a $750 million developer incentive program designed to help onboard developers from decentralized finance (DeFi), gaming and nonfungible projects into the Kava community.
Kava Rise is an on-chain incentive mechanism that will distribute 62.5% of all block rewards to developers who are building on Kava’s Ethereum and Cosmos Co-Chains as part of the protocol’s effort to become a builder-owned network. The remaining 37.5% of block rewards will be distributed to stakers.
The incentive program is expected to go live with the Kava 10 upgrade, which will also include the launch of the Cosmos and Ethereum Co-Chains on the Kava mainnet.
Related: 3 reasons why Cosmos (ATOM) price is near a new all-time high
New partnerships and protocol launches
A third factor helping to boost the demand for KAVA has been the addition of new partnerships and protocols for the Kava network.
Some of the newest protocols to launch on the Kava co-chain architecture include the NFT marketplace OpenBiSea, the decentralized finance launchpad DexPad and the DeFi piggy bank WePiggy.
Other recent launches on Kava include the multichain DeFi lending protocol ForTube, the Ruby Protocol that brings the first algorithmic stablecoin to the Kava Ethereum Virtual Machine (EVM) and an Ethereum Co-Chain integration with the Ren protocol.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for KAVA on April 1, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for KAVA began to pick up on April 1, around 94 hours before the price increased 25% over the next three days.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Ethereum Scaling Solution and Two Additional Altcoins May Be Gearing Up for Liftoff, According to Top Crypto Analyst
Widely followed crypto strategist Michaël van de Poppe says he has his eye on three altcoins that he believes offer huge upside potential. In a new strategy session, Van de Poppe tells his 165,000 YouTube subscribers that he’s closely following the price action of Cosmos (ATOM), an ecosystem of blockchains designed to scale and interoperate […]
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Derivatives Exchange Giant CME Group Adds 11 New Cryptocurrency Reference Rates
Global markets company and Chicago-based derivatives exchange CME Group plans to launch 11 new reference rates tied to specific crypto assets. The reference rates and real-time indices bolstered by CF Benchmarks are typically leveraged by exchange-traded products and other investment vehicles. 11 Crypto Assets Get Reference Rate Treatment From CME Group and CF Benchmarks CME […]Grayscale Rebalances to Avalanche, Polkadot, Cosmos
Institutions Pour Money Into Bitcoin, Ethereum and Solana As Crypto Sees Biggest Inflows Since Last Year: Report
A leading digital assets manager says crypto investment products focused on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) rebounded in a huge way last week, with inflows of over $190,000,000. According to the latest CoinShares Digital Asset Fund Flows Weekly report, the European markets helped boost crypto investment products to their highest inflows since late last […]
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Cosmos Is Stuck in a No-Trade Zone
Coinbase Now Allows Cardano Staking Services, Firm ‘Plans to Continue to Scale Staking Portfolio’
On March 23, the cryptocurrency exchange Coinbase announced the platform will now allow cardano staking services. The company’s senior product manager Rupmalini Sahu mentioned that cardano is one of the top ten crypto assets by market cap and its proof-of-stake (PoS) blockchain “seeks to be more flexible, sustainable, and scalable.” Coinbase Now Offers Cardano Staking […]