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DeFi Protocol Jigstack Raises $3 Million in Private and Public Funding Rounds

DeFi project Jigstack has raised $3 million in funding rounds as it plans to operate multiple revenue products, including a multi-platform token sale launchpad.

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Jigstack, a DeFi project aiming to govern high-quality revenue-generating network solutions on Ethereum, has successfully raised $3 million in private and public funding rounds. The protocol plans to utilize the funds to build the DAO of the decentralized finance sphere.

Jigstack Raises $3M in Funding Rounds

Describing itself as the “missing piece of DeFi,” Jigstack is a decentralized autonomous organization (DAO), which engineers and deploys institutional-grade decentralized tools. The project announced the completion of its private and public funding rounds, in which it raised in total $3 million, in a press release shared with CryptoPotato.

The statement highlighted that the private rounds were oversubscribed, “confirming the global interest in this ecosystem.” Some of the notable names that participated were Moonwhale Ventures, DHC Capital, Blocksync Ventures, CSP DAO, X21 Digital, and more.

Jigstack said it has a “bold” vision for the decentralized finance industry as it plans to become the leading DAO by governing “multiple revenue-generating protocols.” The project will introduce an ecosystem where “quality standardization takes center stage.” As such, the tools and protocols Jigstack is developing “must empower users, and DeFi needs to the for the people, by the people.”

“Decentralized finance and decentralized governance are two of the most promising concepts in modern economics. We couldn’t just sit on the sidelines and watch such an important endeavor compromised by vulnerabilities I thought could be well mitigated.” – commented Robert Weir of Jigstack.

Weir added that the project will bring “a new standard of quality, security, and user-friendly, solution-oriented financial tools.”

The Demand for the STAK Token

According to the statement, the rapid completion of the funding rounds exemplified investors’ massive interest in Jigstack’s native cryptocurrency – STAK. The token will receive a share of all transaction fees occurring on the network.

Jigstack will operate “multiple revenue products and protocols.” These include Lemonade – a multi-platform token sale launchpad, Stakbank – a staking and rewards-oriented platform for STAK, EthLink – a decentralized affiliate marketing solution, JigBridge – a cross-chain bridge, and an NFT marketplace called “Gallery.”

Apart from receiving shares of the fees, STAK holders will govern the Jigstack DAO and all of its products. As such, the project vowed to pave the “road for broader mainstream adoption of DeFi with a strong focus on quality assurance and interoperability.”

Featured Image Courtesy of Medium

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Source: https://cryptopotato.com/defi-protocol-jigstack-raises-3-million-in-private-and-public-funding-rounds/

Blockchain

ICX Technical Analysis: Look Out for the Downside Scenario of $2.2460

In the case of an uptrend in ICX, the first resistance price will have to break is $2.5087, if the candle closes above this level. Then you can take a long position with a target of $2.7670. Keeping the stop loss of $2.2460.

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The ICON (ICX) helps two independent blockchain Bitcoin and Ethereum connect and transact with each other. It can function like this by opening up the cross-chain with an interoperability layer which is ICON. The following ICX technical analysis will predict the price movements for the next two days:

Past Performance

In the past seven days, ICX has traded between $2.13 and $3.08, which is also a 30-day-high. The price has fallen steeply in the past 24 hours, but volume has risen by 133% in the given time frame.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/05/icx-technical-analysis-look-out-for-the-downside-scenario-of-2-2460.png

Link: https://www.tradingview.com/x/ewaI829E/ 

Day Ahead And Tomorrow

In the past 24 hours, ICX has fallen by almost 19% from its daily high, which was $2.86. At the time of press, ICX was trading at $2.24, the gains of the previous hours were booked causing the prices to fall marginally.

READ  Top Best Cryptocurrency Exchanges in 2019

The MACD did go above half-line but due to the declining bar, it was pulled down. The traders who look out for such observations should short the position from this level.

RSI being the leading indicator is traveling around the equilibrium. It will remain in the equilibrium phase for a while before indicating any strong reversal. RSI is in a bearish zone around 48%, and it still has some potential to go towards the oversold zone. Shorting the position from this level would work.

ICX Technical Analysis 

According to the trend, the Fibonacci retracement level to look out for in the downside scenario is $2.2460. If this support is broken, a trader can short the position and target the $1.9216 level – which is the next support level.

In the case of an uptrend, the first resistance price that will have to break is $2.5087. If the candle closes above this level, then you can take a long position with a target of $2.7670. Keeping the stop loss of $2.2460.

READ  ICX Technical Analysis: Wait and Watch, Price Surpasses the Pivot Point or Falls Below $1.93

#ICON #ICX

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Source: https://www.cryptoknowmics.com/news/icx-technical-analysis-look-out-for-the-downside-scenario-of-2-2460

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Crypto Exchange Binance Briefly Suspended Withdrawal Services

Binance temporarily suspended withdrawals from its platform amid what it called “large volume increases” for Ethereum and XLM tokens.

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Binance, the world’s largest cryptocurrency exchange by volume, temporarily suspended withdrawals from its platform amid what it called “large volume increases” for Ethereum and XLM tokens.

Binance Briefly Suspends Withdrawal Services

Binance, the largest cryptocurrency exchange, briefly suspended withdrawals on May 10.

The exchange officially notified on Twitter that it had stopped withdrawals, and then about half an hour later said they had resumed.

The exchange tweeted at 7:10 a.m. eastern time that withdrawals would be suspended on the platform, meaning that while the platform is down, trading won’t be processed. As of 7:34 a.m., the exchange later said that withdrawals are now resumed.

Bloomberg reports that the withdrawals could be likely due to the result of increased trading volumes.

READ  Fastcompany.com’s 100 Best Workplace For Innovators, Ripple Is At 97th Position

Per Bloomberg, Binance has been attracting more than 300,000 user registrations per day as of February 2021. Given the increased interest of altcoins like DOGE among newbies coupled with growing institutional interest in Bitcoin, it’s likely that this average has gone up in recent months.

ETH and XLM Withdrawals Suspended Amid Surging Prices

Binance cryptocurrency exchange reported on facing technical difficulties with altcoins such as ETH and XLM withdrawals due to a large increase in volume that resulted in issues with users from cashing out their crypto from the exchange.

The increased volumes in ETH and XLM come due to the surging price of the altcoins with Ethereum reaching a new all-time high above the $4,100 level.

Meanwhile, Stellar Lumens (XLM), has also surged to the highest level last seen back in early January 2018, $0.74, according to data shared by CoinMarketCap. The last time XLM reached an all-time high was $0.90 seen back on January 4, 2018.

READ  Crypto Market Update: Bitcoin and Ethereum Show Bearish Signs

It has become increasingly common for crypto exchanges to deal with trading disruptions or withdrawal errors especially with thousands of new users flocking to the crypto platforms hoping to sell higher during price spikes.

#Binance #ETH #Ethereum #Stellar #XLM

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/crypto-exchange-binance-briefly-suspended-withdrawal-services

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Blockchain

Crypto Exchange Binance Briefly Suspended Withdrawal Services

Binance temporarily suspended withdrawals from its platform amid what it called “large volume increases” for Ethereum and XLM tokens.

Avatar

Published

on

Table of Contents

Rate this post

Binance, the world’s largest cryptocurrency exchange by volume, temporarily suspended withdrawals from its platform amid what it called “large volume increases” for Ethereum and XLM tokens.

Binance Briefly Suspends Withdrawal Services

Binance, the largest cryptocurrency exchange, briefly suspended withdrawals on May 10.

The exchange officially notified on Twitter that it had stopped withdrawals, and then about half an hour later said they had resumed.

The exchange tweeted at 7:10 a.m. eastern time that withdrawals would be suspended on the platform, meaning that while the platform is down, trading won’t be processed. As of 7:34 a.m., the exchange later said that withdrawals are now resumed.

Bloomberg reports that the withdrawals could be likely due to the result of increased trading volumes.

READ  CEO Hoskinson Discusses What Silicon Valley Can Offer Cardano

Per Bloomberg, Binance has been attracting more than 300,000 user registrations per day as of February 2021. Given the increased interest of altcoins like DOGE among newbies coupled with growing institutional interest in Bitcoin, it’s likely that this average has gone up in recent months.

ETH and XLM Withdrawals Suspended Amid Surging Prices

Binance cryptocurrency exchange reported on facing technical difficulties with altcoins such as ETH and XLM withdrawals due to a large increase in volume that resulted in issues with users from cashing out their crypto from the exchange.

The increased volumes in ETH and XLM come due to the surging price of the altcoins with Ethereum reaching a new all-time high above the $4,100 level.

Meanwhile, Stellar Lumens (XLM), has also surged to the highest level last seen back in early January 2018, $0.74, according to data shared by CoinMarketCap. The last time XLM reached an all-time high was $0.90 seen back on January 4, 2018.

READ  XLM Prices in a Bear Hug at $0.247

It has become increasingly common for crypto exchanges to deal with trading disruptions or withdrawal errors especially with thousands of new users flocking to the crypto platforms hoping to sell higher during price spikes.

#Binance #ETH #Ethereum #Stellar #XLM

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/crypto-exchange-binance-briefly-suspended-withdrawal-services

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Blockchain

SHIB Token Surges by 1946.11% within a Week

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Today, despite the fact that most mainstream cryptocurrencies have fallen back, the SHIB token has proven to be the exception, rising by 123.63% in the past 24 hours. Within a week, SHIB token has surged by an impressive 1946.11%.

SHIB is the native token of the SHIBA INU network and is the first ERC-20 token to be listed and incentivized on ShibaSwap decentralized exchange.

Binance crypto exchange elaborated on SHIB token and said:

“SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin.”

SHIB was officially launched in August 2020, when the decentralized finance market was making huge strides and growing exponentially. The founder of SHIB token Ryoshi issued a total of 1,000 trillion SHIB. 50% of the tokens were locked into Uniswap to provide liquidity, while the remaining 50% was allocated to Ethereum co-founder Vitalik Buterin.

SHIBA INU was launched on OKEx, Huobi Global, and Binance on May 8, 9, and 10 respectively. The cryptocurrency rapidly became popular within the crypto sector.

SHIB is also whimsically known as the ‘Doge Killer’ as SHIB, due to its relatively low price, is attracting Dogecoin investors.

The popularity of Shiba Inu Coins gained massive traction due to the following reasons:

Firstly, SHIB token’s initial starting price is relatively low. Therefore, investors can spend a small amount of funds and still gain hundreds of thousands of SHIB. For new-entry investors, the entry barrier is relatively low.

Secondly, due to the extremely high FOMO (Fear of Missing Out) sentiment in the bull market, SHIB token quickly gained a lot of traction. Investors, fearing that they were missing out on an incredibly opportunity, jumped on the chance to invest in SHIB, as they did not want to miss out on any chance of getting rich.

The third reason why SHIB surged by so much in so little time is due to billionaire Elon Musk’s endorsement of Dogecoin. Elon Musk tweeted on May 7 that he was looking for a Shiba pup, sending SHIB higher.

Shiba Inu (SHIB) has now entered the top 20 rankings of CoinMarketCap and is currently ranked No.17. It may well be a trader’s response to the hype surrounding Dogecoin (DOGE).

At the time of writing, SHIB is trading at $0.00003225.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/shib-token-surges-1946.11-within-week

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