A top crypto analyst and trader says Ethereum is setting up for a wild rally as he unveils his new price target for blockchain-based game Axie Infinity. The pseudonymous analyst known as Pentoshi tells his 333,400 Twitter followers that he expects Ethereum (ETH) to go on a massive surge as it threatens to print a […]
The post Crypto Analyst Predicts Wild Leg Up for Ethereum, Unveils New Price Target for Axie Infinity appeared first on The Daily Hodl.
Widely followed crypto strategist Pentoshi is anticipating rallies from Cosmos (ATOM), Bitcoin (BTC), and one low-cap DeFi altcoin. The crypto analyst tells his 324,700 Twitter followers that the smart contract platform Cosmos (ATOM) looks ready to outperform the crypto market over the next few weeks. As the token finds support around 0.0006 BTC ($35.42), Pentoshi […]
The post Cosmos Primed To Ignite Parabolic Rally While Glory Awaits One Low-Cap Altcoin, Says Crypto Analyst Pentoshi appeared first on The Daily Hodl.
A popular crypto analyst and trader says Bitcoin may consolidate for some time while Ethereum leads an altcoin charge. The pseudonymous analyst known as Inmortal tells his 92,000 Twitter followers that despite Bitcoin’s (BTC) recent correction from its all-time high of $67,276.79, he’s still not eager to buy dips in the king crypto. According to […]
The post Ethereum To Trigger Altseason While Bitcoin Could Consolidate for Weeks, According to Crypto Analyst appeared first on The Daily Hodl.
A popular crypto analyst is mapping out some big price predictions for three large-cap altcoins. The pseudonymous trader Inmortal tells his 95,000 Twitter followers that in order for the crypto market at large to remain bullish, Bitcoin (BTC) now needs to hold above $61,000. If that happens, Inmortal predicts the leading smart contract platform Ethereum […]
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The project teased the release of the blockchain in a video message with a quote from famous astronomer Carl Sagan and a picture of a canary among the stars.
The Cosmos cross-chain network is building a new blockchain aimed at allowing developers to experiment with different protocols.
In its quarterly keynote report published on Tuesday, Cosmos said its Sagan blockchain was currently in development. The project teased the release of the blockchain in a video message with a quote from famous astronomer Carl Sagan and a picture of a canary among the stars.
The canary imagery may refer to the blockchain being an experimental “canary network,” the term used by interoperability protocol Polkadot to describe its Kusama test network. In Kusama’s case, the blockchain enables developers to build and use a parachain or test Polkadot’s governance, staking and other functions in a real environment.
Cosmos has been growing steadily following the March launch of its inter-blockchain communication protocol, which allows crypto assets to be transferred easily between compatible blockchains, including those in decentralized finance. According to data from Mapofzones, there have been 1,285,426 transfers across the Cosmos ecosystem in the last 30 days.
Related: Cosmos sees 1 million transfers in a month across the ecosystem
The Sagan announcement comes as Cosmos is also working on rollup scaling technology to allow developers to build Cosmos-based blockchains as rollups that can be deployed as clusters within the zones of the inter-blockchain communication protocol. The solution, called Optimint, is intended to be a “drop-in replacement” for the Tendermint framework on which it’s built.
A widely followed crypto trader thinks Ethereum (ETH) and Cosmos (ATOM) could resume their uptrend while highlighting potential reversal points for Cardano (ADA) in a new video. Crypto market trader Michaël van de Poppe tells his 134,000 YouTube subscribers that he wants to see Ethereum find support at 0.0058 BTC ($3,267) before pushing higher. “If […]
The post Here’s How Ethereum and Cosmos Can Carve Out Bottoms and Restart Their Bull Markets, According to Analyst Michaël van de Poppe appeared first on The Daily Hodl.
THORSwap users can now transact across Bitcoin, Litecoin, Binance Smart Chain and Bitcoin Cash networks.
Cross-chain decentralized exchange (DEX) THORSwap appears to be on the path to recovery after the THORChain network was taken offline following major exploits just three months after entering its guarded launch.
The Cosmos-powered network aims to support decentralized trades executed across different blockchain networks such as Bitcoin (BTC) and Ethereum (ETH). According to an Oct. 12 progress report, the team behind the project’s decentralized exchange THORSwap has so far restored functionality for four of the five networks it supported prior to going down in July.
The update states that THORSwap has resumed swap functionality across the Bitcoin, Bitcoin Cash (BCH), Litecoin (LTC), and Binance Smart Chain networks, adding that the team is currently in the process of reinstating support for Ethereum.
15 summaries about @THORChain
— THORSwap ⚡ ᚱ (@THORSwap) October 12, 2021
1. $BTC, $ETH, $BNB, $LTC, $BCH - 5 economic significant blockchains are integrated.
2. Got exploited but hardened and became stronger than ever.
3. Recovered 4 chains and is in the process of recovering the last chain - Ethereum.
1/7
THORSwap added it is working to integrate support for the Terra stablecoin network and the Cosmos’ decentralized finance hub, Gaia. Further integrations with other crypto assets, including Dogecoin (DOGE), Decred, Haven and Monero (XMR), are also under development.
The team is also working to improve the performance of network nodes.
THORSwap’s highly guarded “chaosnet” was partially launched in April, following the launch of THORChain’s initial systems in July 2020.
Despite apparent early success, the THORChain network would suffer three hacks during June and July, forcing it to take some services offline.
Related: Possible ‘white hat hacker’ exploits THORChain for $8M, proposes 10% bounty
THORChain was initially exploited in June. However, the team downplayed the incident at the time, stating that the first exploit attempt was limited to $140,000, "which is a small amount compared to other exploits."
The network was exploited again for a much larger $7.6 million in Ethereum on July 16 after a hacker discovered a vulnerability resulting in the suspension of operations. THORChain was attacked for a third time on July 23 when a hacker exploited the network’s Ethereum router to steal $8 million worth of ETH.
"It's been a tough time for THORChain during the last few months, but fundamentals never changed," said the THORSwap team.
A popular crypto trader is expecting one altcoin to rally 200% and thinks Ethereum (ETH) is set to rally following a bullish move by Bitcoin (BTC). The widely followed trader known as Inmortal tells his 85,800 Twitter followers that the smart contract platform Cosmos (ATOM) looks ready to make a 200% run towards $100. He […]
The post Crypto Trader Predicts 200% Rally Incoming for This Altcoin, Says Ethereum Ready To Follow Bitcoin appeared first on The Daily Hodl.
The successful launch of the long-awaited Columbus-5 upgrade is just one of the factors in LUNA’s ascension to a new record high.
Protocol upgrades are one of the biggest drivers of momentum because they show developers' dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token's value.
One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (UST) to create a global payments system.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $23.81 on Sept. 21, the price of LUNA surged 108% to establish a new record high at $49.55 on Oct. 4 as its 24-hour trading volume spiked to $2.5 billion.
Three reasons for the price breakout in LUNA include the launch of its Columbus-5 upgrade which introduced a LUNA burning mechanism, the protocol’s adoption of the IBC standard which opens Terra to the Cosmos ecosystem and an increase in DeFi applications and total value locked on the protocol.
Columbus-5 launched on Sept. 30 and according to Terra developers and independent analysts, the upgrade is the most significant development to happen to the protocol to date.
1/ Columbus-5 is now officially live as the new Terra mainnet!
— Terra (UST) Powered by LUNA (@terra_money) September 30, 2021
Welcome to the future of Terra https://t.co/EFnQnFr2lB
One of the notable changes to come along with the upgrade was a modification to the project’s tokenomic model which leads to all LUNA used to mint UST being burned, instead of going into the community pool.
According to data from Terra, there were $832 million worth of LUNA burned in the genesis block of Columbus-5.
This change has introduced deflationary pressure to the LUNA supply and it could help boost its price in the long term as demand for UST grows.
A second reason for the boost in LUNA's momentum was its integration with the Inter-Blockchain Communication (IBC) standard which allows the Terra network to communicate and interact with protocols in the Cosmos ecosystem.
This integration opens up Terra and its UST stablecoin to more widespread adoption throughout the Cosmos ecosystem and make it the stablecoin of choice for applications and chains in the network.
With a larger pool of projects now having access to UST, this could lead to a further deflation in the supply of LUNA becaus more will need to be burned in the process of minting new UST.
Related: Evolve or die: How smart contracts are shifting the crypto sector’s balance of power
A third reason for the bullish price moves in LUNA has been the network's growing ecosystem of decentralized finance (DeFi) protocols that have helped push the total value locked on the protocol to a new all-time high.
According to data from Defi Llama, the total value of assets locked on the Terra network reached a record $10.07 billion on Oct. 4 right as LUNA price was breaking out to a new record high.
Currently, Terra's TVL is above $10 billion and the top-ranked platform in terms of TVL is Ancor Protocol (ANC) with $3.86 billion. ANC is the main avenue for minting UST by pledging LUNA or Ether (ETH) as collateral.
Other notable DeFi protocols on the network include Lido (LDO), which has a TVL of $3 billion, Mirror (MIR) with a TVL of $1.38 billion and Terraswap which has a $1.32 billion TVL.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for LUNA on Sept. 26, 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 LUNA began to pick up on Sept. 21 and reached a high of 73 around one hour before the price began to increase 108% over the next two weeks.
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.
