Tag: Stx

Bitcoin-Integrated Altcoin Spikes After Earning Surprise Support From Coinbase

by Dailyhodl

One altcoin that seeks to leverage the power of Bitcoin (BTC) is enjoying bullish price action after getting sudden support from Coinbase, the top crypto exchange in the US.

In a new announcement, Coinbase says trading for Stacks (STX) will begin on Wednesday, January 19th if liquidity conditions are met.

Stacks is an open-source blockchain linked to Bitcoin by its consensus mechanism which spans the two chains, called Proof of Transfer. Through this architecture, Stacks aims to leverage Bitcoin’s security and enable decentralized applications (dApps) to use Bitcoin’s state, despite being a different blockchain.

According to the Stacks website, the project aims to bring a series of novel use cases to Bitcoin traditionally reserved for other blockchains.

“The world is converging on Bitcoin as a standard, and demand for use cases around Bitcoin is increasing. There is hundreds of billions of capital locked into Bitcoin, most of it as a passive store of value. Instead of competing with Bitcoin, Stacks can provide novel use cases for holders of bitcoin, such as bitcoin-backed loans, bitcoin DeFi or using your bitcoin to trade NFTs.”

Following the announcement of the Coinbase listing, STX jumped nearly 15% from $2.19 to $2.53. STX was already in a rally earlier in the day, at one point trading below $2.00. After recording a 26% gain in a matter of hours, STX has cooled off and is currently changing hands for $2.23 at time of writing.

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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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5 Crypto Assets Are Set to Surge in First Quarter of 2022, According to Analyst Jason Pizzino

by Dailyhodl

Popular crypto analyst Jason Pizzino is detailing which altcoins he believes are primed to surge over the next few months.

First on Pizzino’s list is Curve Dao Token (CRV), the governance token for Curve Finance, a decentralized exchange for stablecoins. Pizzino tells his 244,000 YouTube subscribers that CRV’s Bitcoin chart looks bullish.

“Will it pump like The Sandbox? Probably not, because I don’t think the vision and the excitement and the hopes and dreams can be put into a DeFi project like they can with an NFT/gaming/metaverse project…

But I think there are some big gains to be had in something that is wound up so tightly on a chart like this.”

CRV is trading at $4.73 at time of writing, down more than 4% in the past 24 hours.

Second on the analyst’s list is MATIC, the native token for the blockchain scaling solution Polygon.

Pizzino says MATIC is just starting to “find its legs” after going sideways against Bitcoin. He notes that if the overall crypto narrative shifts to Ethereum (ETH), then Polygon looks good. MATIC is trading at $2.11 at time of writing, up more than 13% on the day.

His next pick is LUNA, the native token for the smart contract platform Terra. Pizzino, however, notes that he’s more bullish on CRV and MATIC than he is on LUNA.

LUNA is trading at $63.94 at time of writing, up more than 12% in the past 24 hours.

The trader’s fourth pick is STX, the native asset for Stacks, an open-source blockchain network and Bitcoin developer project. Pizzino notes that Stacks is already breaking out and could see short-term gains.

“You want to see it stay in the all-time highs… Are they going to be as big as metaverse? I’ve already said that I don’t think so. But I want to look at something that’s going to move this quarter or next quarter.

Because I’m not sure of those larger-cap metaverse cryptocurrencies, because I think they may have had their move.”

STX is trading at $2.70 at time of writing, down nearly 10% on the day.

Another of Pizzino’s picks is RUNE, the native asset for THORChain, a blockchain platform that aims to facilitate the secure and cheap transfer of assets between different blockchains.

Pizzino notes that RUNE has been making higher lows and higher highs against Bitcoin (BTC). The analyst says the asset also has to outpace Ethereum because it’s “the strongest player at the moment.”

RUNE is trading at $10.68 at time of writing, down more than 7% on the day.

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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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Crypto-Friendly New York City Mayor-Elect Adams Gives Blessing to ‘NYCCoin’ Rollout

by Dailyhodl

New York City Mayor-elect Eric Adams is welcoming the launch of the Big Apple’s first-ever cryptocurrency, NewYorkCityCoin (NYCCoin).

Following a tweet from Adams saying that he wants New York to have its own digital asset like Miami, CityCoins announced the activation of NYCCoin mining.

The crypto development firm previously launched MiamiCoin (MIA) back in August. The project generated $4.3 million within 40 days of its initial rollout.

NYCCoin is powered by CityCoins, a project running on the Stacks Protocol, which enables smart contracts on the Bitcoin network. CityCoins says that people who want to support New York City and help grow its crypto treasury can purchase, mine, and stake the tokens, earning Stacks (STX) and Bitcoin (BTC) in the process.

“NYCCoin is also programmable, enabling builders to improve the city from their keyboard by using NYCCoin to build web3 apps, mint NFTs [non-fungible tokens], or otherwise improve the city’s digital infrastructure.”

The rollout of the digital coin comes as Adams, who will be sworn in as mayor on January 1st, pushes to make New York City the center of the cryptocurrency industry.

Adams also said that he will take his first three checks in Bitcoin after crypto veteran Anthony Pompliano asked on Twitter who would be the first American politician to accept a paycheck in BTC.

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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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Bitcoin (BTC) $ 26,284.04 1.19%
Ethereum (ETH) $ 1,588.78 0.15%
Litecoin (LTC) $ 64.43 0.36%
Bitcoin Cash (BCH) $ 210.47 1.10%