We begin the week with an update on the news and prices of crypto assets Kasta (KASTA), Hooked Protocol (HOOK) and Polkadot (DOT).
Let’s see together if there is any important news to report and how these cryptocurrencies are moving chart-wise.
Relevant news for the crypto assets Kasta (KASTA), Hooked Protocol (HOOK) and Polkadot (DOT).
Starting with the most interesting news, it is worth noting that Kasta, a crypto payments application, announced that it has obtained a license to operate legally and transparently in Italy.
Following the European Parliament’s signing of the MiCA-defined framework drafted by the European Commission, all EU-based crypto providers have received initial guidelines on how to modify their business properties to be compliant with the new regulations.
Kasta, whose business is based on offering the end customer a simple and convenient solution for making crypto payments, can now rely on the Italian market.
In parallel, the team has made it clear that it will also work to obtain other licenses throughout Europe.
Regarding Hooked Protocol and its crypto HOOK, there are 2 very curious pieces of news worthy of mention.
The first is about the “Hooked Academy Sensei,” which is one of the first web3 academies integrated with artificial intelligence.
Sensei, has once again opened its doors to register and have a chance to try the product in Beta version.
Given the growth in the popularity of the platform and given the increase in requests from the community, the crypto HOOK Team decided to give away exclusive accesses to try the learning academy integrated with AI systems and a chatbot similar to that of ChatGPT.
The second news, on the other hand, concerns Binance’s announcement for the launchpad of the EDU token belonging to the “Open Campus” community, an official partner of Hooked Protocol.
Just like the HOOK crypto, the EDU token will also be launched from Binance’s launchpad, where exchange users can already now task their BNB to receive this new crypto on the day of listing on the markets.
Hooked Protocol will help Open Campus achieve its goal of creating a decentralized world where teachers and educators can monetize their content, contributing to the literacy of the Web3 community.
Finally, Polkadot, one of the most well-known and established crypto projects on the market announced that an NFT collection will be recently launched on the Astar network, parachain of the main network
A new NFT collection on Polkadot
The NFT collection “Cryptonauts,” belonging to “Mandala Metaverse,” a cross-chain gaming and interoperability platform, will be launched on Astar, Polkadot‘s parachain starting 28 April.
The non-fungible tokens in the collection were created by artist and illustrator Bruce Zick, who has gained experience working for Pixar, Disney, Marvel and Dark Horse.
Mandala chose the Polkadot ecosystem because many of the features designed for NFTs were not present in other blockchain infrastructures, such as nesting, staking, and the ability to send NFTs via bridges.
This is a turning point both for Polkadot, which will be able to broaden its participation within the crypto art category, and for Mandala, which will be able to rely on one of the most interoperable and well-known blockchains in the industry.
Jon Shanker, CEO of Mandala, said:
“The overall cooperative and collaborative flow opens up our imagination for games and mass adoption of blockchain capabilities. We are now able to do things we didn’t think possible. By joining Polkadot’s flourishing ecosystem, we are also able to leverage the best-in-class secure interoperability offered by the network.”
Polkadot appears to be expanding during this first quarter of 2023. According to Messari‘s data, the infrastructure has hooked 6 more parachains onto its core substrate, thus continuing to grow in adoption and usage.
On the financial front, the company increased its quarterly revenues by 28% to $120,000.
Crypto price analysis of Kasta (KASTA), Hooked Protocol (HOOK) and Polkadot (DOT)
Now, let’s talk about market analysis for the crypto assets Kasta (KASTA), Hooked Protocol (HOOK) and Polkadot (DOT).
During the past month, all 3 crypto assets have moved in roughly the same way, having followed BTC’s price drop.
Most altcoins follow in a very similar way the trend of the king of cryptocurrencies, being more capitalized and more established in the sector.
Going into specifics we can see that KASTA has the most bearish price action of the trio. The current price is $0.023 per token, market capitalization of $92.6 million, and volume in the last 24 hours of $353,000.
The token is highly inflationary, being used as a token on Kasta’s platform to receive fee discounts and staking returns.
KASTA’s circulating supply represents 14% of the maximum supply-not exactly the best for a cryptocurrency that has lost 98% from its all-time high.
As for HOOK, the situation seems to be a bit more cheerful: current price of $1.86 per token, market capitalization of $92.7 million (almost identical to KASTA’s), and volume in the last 24 hours hovering around $25 million.
The crypto, having been born only a few months ago, has still had little opportunity to express itself to the fullest chart-wise, with lows and highs already far apart and HOOK sitting roughly in the middle of this trading range.
Should there be a breakout of the $2.5 area, we could see a pullback for HOOK. Conversely, should the crypto lose support at $1.5, it could easily approach market lows again.
Over the past month, one can clearly see the correlation with Bitcoin‘s retracement, which has occurred since 17 April.
Finally, analyzing DOT, which is the most capitalized crypto of the 3, we can see right away that the situation in the long run does not look very rewarding.
After the price pump of the 2021 bull run, which took DOT to a high of $55, it now seems to have returned to values prior to this run of price rises.
Currently the coin trades at $5.91, market capitalization of $6.95 billion, and volume in the last 24 hours of $153 million.
Again, the price correlation with BTC seems evident, with the chart showing a spike and a sudden drop in DOT value near 19 April.
Compared to HOOK, the descent came two days late, but it was no less violent.
Source: https://en.cryptonomist.ch/2023/04/24/crypto-news-kasta-hook-polkadot-2/