Got crypto? Here are 3 software wallets for storage, staking and swapping

“Not your keys, not your coins” is short for “Don’t leave your crypto on exchanges.” Here are three soft wallets that are trusted by millions of investors.

Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.

For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome.

Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops.

MetaMask

MetaMask was originally launched to support the Ethereum blockchain and decentralized applications (DApps) that run on top of it. It is now available as a browser extension and smartphone application.

The company launched in 2016 and has largely benefited from a first-mover advantage to become one of the most popular and widely integrated wallets, and it is one of the few to support nearly every blockchain network.

A quick scroll through the supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine- (EVM)-compatible networks and instructions on how to add any listed network to their MetaMask wallet, shows hundreds of blockchain networks supported by MetaMask including many of the top smart contract competitors.

Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and it’s easy for users to use various bridges to transfer tokens between the supported networks.

MetaMask has also integrated a swap feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume on MetaMask swap has steadily increased throughout 2021.

MetaMask swaps daily volume. Source: Dune Analytics

The rise in swap volume has also come alongside rumors that MetaMask will eventually release a token of its own and many users are anticipating an airdrop.

Phantom

Phantom is a popular software wallet and browser extension available for Solana network users.

Similar to MetaMask, the Phantom wallet has a built-in DEX that allows users to make direct swaps within the software, thus avoiding the risk of connecting to a scam website or paying gas fees to transfer the funds out of the wallet to another exchange.

There are rumors that Phantom could launch its own token and airdrop a portion of the supply to early adopters. So far, however, this is nothing more than pure speculation and nothing has been mentioned by the developer yet.

The wallet also has an NFT tracking feature and users can also transact with available NFT marketplaces.

Similar to other wallets, Phantom users can stake Solana (SOL) tokens without needing to transfer the assets. Recently, the team announced a partnership with MoonPay that will allow users to use fiat currency and credit cards to purchase tokens in the Solana ecosystem.

The project is also developing smartphone applications that will allow users access to the Solana network directly from their smart devices.

Keplr

Keplr wallet is the first inter blockchain communication– (IBC)-enabled wallet and browser extension for the Cosmos network that allows users to store and access tokens within the ecosystem.

It currently supports more than 15 networks including Cosmos, Secret Network, Kava, Crypto.org, IRISnet and Persistence, and the team regularly adds support for new chains with several projects currently under beta access.

Holders of the supported tokens are able to stake their holdings directly through the Keplr wallet and the app works on Android and iOS devices.

At the moment, there are no rumors of a possible Keplr token or airdrop to users, but one can never be sure about what might happen in the crypto sector. If Keplr integrates popular features like its own swap interface or an NFT marketplace, then the chance of a native token is always a possibility.

Want more information about trading and investing in crypto markets?

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.

Continue reading

Wealth flex? Coinbase now allows users to share their crypto allocations

“We want to empower the cryptoeconomy to share knowledge and information and learn from each other,” said Coinbase senior product manager Rishav Mukherji.

All of United States-based crypto exchange Coinbase’s roughly 68 million verified users can now more easily make information on their portfolio public.

In a Coinbase blog post on Friday, senior product manager Rishav Mukherji said the crypto exchange’s app now includes a feature that shares a user’s allocation percentage — not balances — to their network of friends. He said this would just be the first move in the coming weeks for users to begin sharing additional details on trades conducted on Coinbase.

“We want to empower the cryptoeconomy to share knowledge and information and learn from each other,” said Mukherji.

With a reported 8.8 million monthly active users as of the second quarter of 2021, Coinbase is the largest crypto exchange in the United States, reporting more than $1.2 billion in revenue in Q3. The firm’s profits totaled $406 million the same quarter, marking a 74.7% decrease compared with those of Q2.

Related: ​​Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets

The social media integration is largely a new move for Coinbase, though some may consider major figures publicly disclosing even the percentage allocation of their funds a market indicator. This week, Apple CEO and billionaire Tim Cook revealed for the first time that he held some crypto in his portfolio, but he did not specify which type and how much. Others, including Shark Tank star Kevin O’Leary and Mad Money host Jim Cramer, have been more open about sharing the crypto percentages of their portfolios.

Continue reading

Australia’s Commonwealth Bank Lets Customers Trade Crypto Directly Through Its App

Australia's Commonwealth Bank Lets Customers Trade Crypto Directly Through Its AppThe Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. Commonwealth Bank Begins Offering Crypto Services Commonwealth Bank (CBA), also known […]
Continue reading

Illuvium, LCX and Tokemak hit new highs as Bitcoin dominance lingers

LCX, ILV, TOKE and at least 10 other altcoins hit new all-time highs alongside ETH today.

During bull markets, altcoins tend to accrue gains when Bitcoin price consolidates and at they run in tandem with BTC price during breakouts. This dynamic appears to be at play today because multiple altcoins went parabolic at the same time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time high above $4,500.

According to data from Messari, 31 tokens have established new record-highs in the past 24-hours and the total cryptocurrency market cap increased from $2.619 trillion to $2.732 trillion overnight.

Top 13 tokens to recently establish a new all-time high. Source: Messari

Let’s take a closer look at the motivating factors behind the rallies in LCX (LCX), Illuvium (ILV) and Tokemak (TOKE).

LCX benefits from new exchange listings

LCX is the native token of the Liechtenstein Cryptoassets Exchange which was established in 2018. Currently, the exchange is in possession of at least 8 cryptocurrency-related registrations by the Financial Market Authority Liechtenstein and this allows the platform to legally offer exchange services and security token offerings (STO).

Data from CoinGecko shows that since hitting a low of $0.125 on Oct. 17, the price of LCX has rallied 250% to a daily high at $0.44 on Nov. 2 as its 24-hour trading volume spiked 257% to $18.3 million.

LXC/USD 2-hour chart. Source: CoinGecko

The sudden spike in price and trading volume comes a day after LCX token was listed on Coinbase Pro and the Singapore-based Bitrue exchange.

Illuvium gameplay preview send ILV price higher

Illuvium is an open-world fantasy battle game that is built on the Ethereum newtork and has the goal of becoming the first AAA-rated blockchain-based game that incorporates aspects of decentralized finance (DeFi) and nonfungible tokens (NFT).

Data from TradingView shows that after reaching a low of $452.9 on Sept. 29, the price of ILV has surged 171% to establish a new record high at $1,231 on Nov. 2 as its 24-hour trading volume jumped 122% to $105 million.

ILV/USD 4-hour chart. Source: TradingView

The building momentum for ILV comes following the release of raw footage depicting the gameplay of the platform. This gave interested gamers their first taste of the Illuvium ecosystem.

Related: Axie Infinity, Decentraland and ‘metaverse’ cryptos rally after Facebook rebrands to Meta

Tokemak incorporates ‘Token Reactors’

Tokemak is a decentralized liquidity and market-making protocol that supports an “efficient and sustainable liquidity” across the DeFi ecosystem.

Data from CoinGecko shows that since trading at a low of $29.98 on Sept. 21, the price of TOKE has increased 145.65% to reach a new record high at $73.27 on Nov. 2 as its 24-hour trading activity remained relatively stable near $8 million.

TOKE/USD 2-hour chart. Source: CoinGecko

The steady climb in the price of TOKE comes as the total value locked on the Tokemak platform reached a new all-time high of $767.9 million according to data from Defi Llama. The recent rollout of “Token Reactors” on the Tokemak dashboard allow users to stake tokens from other protocols such as Alchemix (ALCX) and Olympus (OHM) to earn TOKE rewards.

The overall cryptocurrency market cap now stands at $2.732 trillion and Bitcoin’s dominance rate is 43.8%.

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.

Continue reading

Reactivated Ethereum pools trigger a 78% surge in THORChain price

RUNE looks ready to extend its gains after the reactivation of ETH-based pools resulted in a 78% rally last week.

Ealier this year THORChain underwent a series of protocol exploits which led to $8 million being drained from its reserves and these successive attack took a heavy tool on RUNE price. This week, the protocol announced that it would re-open its Ethereum pool, along with other altcoin and BTC-based pools and the announcement appears to be having a positive impact on RUNE price.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $2.95 on July 20, the price of RUNE has increased 283% to a$11.64 and there is also a noticable uptick in trading volume.

RUNE/USDT 1-day chart. Source: TradingView

Two reasons behind the recovery and building strength seen in RUNE include the relaunching of trading capabilities on all five supported blockchains including the Ethereum (ETH) network and the upcoming launch of multiple new projects on the THORChain network.

Ethereum pools are open

The main development driving the momentum behind RUNE has been the reactivation of trading services across all supported blockchain networks, with Ethereum reopening on Oct. 21.

Trading activity was restricted following the April hack and after checking through the code again, the Bitcoin (BTC), Litecoin (LTC), Binance Coin (BNB), Ethereum and Bitcoin Cash (BCH) pools in the process of being reopened.

According to data provided by THORChain, the pent up demand for trading on the protocol was demonstrated by the near instant $2 million in trading volume for ERC-20 tokens minutes after the pool re-opened.

Related: Pension fund for Texas firefighters reportedly allocates $25M to Bitcoin and Ether

Future airdrops and token launches

Another reason for the bullish price move for RUNE is the upcoming launch of multiple new projects on the THORChain network which will soon be listed on the Thorstarter (XRUNE) platform, which is a decentralized launchpad for the RUNE ecosystem.

Some of the major upcoming launches include THORSwap, THORWallet, Brokkr Finance, Skipp Swap, DeFiSwap and XDEFI wallet.

According to data from Cointelegraph Markets Pro, market conditions for RUNE have been favorable for some time.

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.

VORTECS™ Score (green) vs. RUNE price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for RUNE has been elevated in the green zone for the majority of the past week and it reached a high of 74 on Oct. 18, around nineteen hours before the price increased 29% over the next two 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.

Continue reading