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Sologenic Lists 30 Securities Exchanges For Stocks Tokenization

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European crypto exchange CoinField is getting closer to the launch date of its ambitious Sologenic project.  This week it announced all of the stock exchanges that will be “compatible” for tokenized assets trading on the XRP Ledger.  Once live, the Sologenic ecosystem will allow trading of 40,000 stocks, ETFs and commodities. These traditional assets will be turned into stablecoins and backed by real-word assets, per Sologenic. 

Here is the complete and very impressive list of traditional stock exchanges that Sologenic is adding to its platform:

NASDAQ

New York Stock Exchange & NYSE MKT

Toronto Stock Exchange

TSX Venture Exchange

Athens Exchange

BME Spanish Exchanges

Deutsche Borse (XETRA)

Irish Stock Exchange

Johannesburg Stock Exchange

London Stock Exchange & IOB

Milan Stock Exchange

NASDAQ OMX Copenhagen, Helsinki and Stockholm

NYSE Euronext Amsterdam AEX, Brussels, Lisbon and Paris

Oslo Stock Exchange

Prague Stock Exchange

SIX Swiss Exchange

Wiener Borse / Vienna Stock Exchange

Warsaw Stock Exchange

Australian Securities Exchange

Hong Kong Exchanges

HK Stock Connect

Singapore Exchange

Tokyo Stock Exchange   

Commenting on the announcement, CoinField’s CEO and Sologenic’s Co-creator Bob Ras said: “What makes Sologenic a game changer is “On-demand Tokenization,” where traders have access to a wide range of securities offered by the top global stock exchanges. Traders can tokenize any assets in real-time and then trade them against cryptocurrencies or other tokenized assets. I believe it’s time for the traditional financial markets to be disrupted and take advantage of existing blockchain technology.”

Sologenic also provided details on how the ecosystem works – it turns real-world assets into digital tokens and puts them on the XRP Ledger for trading.  Generated stablecoins will represent the ownership of the asset, with the suffix “ƨ” added to it. A tokenized Tesla stock (TSLA) will become TSLAƨ, for instance. Users will be able to store and keep custody of their tokenized assets in private online or offline wallets and no third party is required to keep the private keys, per Sologenic.  

Trading will take place on a centralized exchange, as well as on a DEX, which is expected to launch in Q2 2020. Sologenic has also announced SOLO cards to spend cryptos instantly anywhere in the world.

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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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