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Interested in the new Smart Contract Blockchain cryptocurrencies? FTM vs. AVAX – Which is more promising?

 Smart contracts made blockchain technology explorable and usable. It allowed the creation of apps, digital assets, organizations, etc. Of the numerous blockchains, two new ones are gaining traction in the crypto space. They are Fantom and Avalanche.

 Fantom was launched in December 2019 by Michael Kong to support dApps and digital assets, among others. It uses Asynchronous Byzantine Fault Tolerant (aBFT) proof-of-stake consensus algorithm (Lachesis) to implement security, low transaction fees, and high throughput. This mechanism uses a modular consensus layer that can be integrated into any network. It also has Fantom Virtual Machine that supports project development on the ecosystem.

 Avalanche was created in September 2020 by Ava Labs to support the integration of various DeFi ecosystems. It has three subchains, including Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain). The X-Chain allows the creation and exchange of assets, the P-Chain is where validators and subnets converge, and the C-Chain aids the execution of EVM and smart contracts. It operates on Avalanche and Snowman consensus protocols.

 Both blockchains are scalable, secure, decentralized, and have low transaction fees. They have wallets where their native tokens can be stored and staked while maintaining compatibility with other wallets. Unlike Fantom, which has 22 members, Avalanche is backed by Ava Labs with over 100 members. Due to Fantom’s compatibility with Solidity and Vyper, it can easily integrate various projects into its ecosystem.

 Although they are both scalable, Fantom is than Avalanche with a finality period of one second. Also, Fantom has a fully implemented on-chain governance where FTM holders can participate in governing and propose changes on the network. However, it costs more to be a validator on Fantom.

 The price of FTM rose by 13,500%, while that of AVAX rose by 560% last year, according to CoinGecko. This can imply that although it is highly adopted, it is still undervalued. The adoption of Fantom blockchain is increasing right now, which would positively affect its price in the long run. So, in this case, the better investment is Fantom and FTM costs $2.08 as of today.

 Before you join the Fantom wagon, go ahead and do an in-depth analysis. After doing that, please deal wisely and put what you can lose.

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Morgan Stanley: Bitcoin’s 50% correction “within historical norms”

  • Analysts at the bank say Bitcoin has corrected by 50% or higher on 15 occasions since 2009.

  • They say a breakdown to $28,000 is possible as this is 2021’s floor, while $45,000 remains a crucial resistance zone.

Bitcoin’s bounce from recent lows could be hindered if the flagship cryptocurrency slides below $37,000 again, with further losses likely given the potential for fresh sell-off pressure across traditional financial markets.

In such a scenario, Bitcoin’s price could retreat towards major demand zones in the $35k- $33K and see its cumulative losses since reaching an all-time peak hit +50%.

While the slump could be a worrying signal for the benchmark crypto, analysts at Morgan Stanley say this won’t be anything out of the ordinary.

Sheena Shah, the head of research for crypto at the bank said acknowledged in the report that it’s not easy to estimate what the fair value of a crypto asset is, especially given the speculative nature of the asset class.

Per the research note, Bitcoin’s correction is still within the perimeters of bear market crashes seen in previous cycles. Historical data shows Bitcoin price has tanked massively in about 15 bear markets in its life with the latest decline of 50% or more, not an isolated case.

The bank points to $28k as the key price level in this market cycle as it represents the coin’s 52-week low. If a bounceback strengthens and BTC/USD breaks and holds $45k, then the market can look to more gains amid a potential rally.

But Morgan Stanley thinks investors should keenly watch the markets, with the likely scenario being crypt assets remain in a correction amid macro trends.

Crypto analyst Rekt Capital thinks as much, noting on Monday as Bitcoin retreated from highs of $38,300 that BTC/USD could yet see a fake breakout. He says it would be important to take note of such a scenario, where Bitcoin sees an upward flip only to retreat sharply.

Trader and crypto analyst Ali Martinez points to on-chain data from IntotheBlock to suggest Bitcoin is facing stiff resistance around $37,500-$38,500.

“Breaking such a critical supply barrier could allow BTC to advance towards $42,300,” he noted.

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Here is why Ripple (XRP) has been dropping in the last three months

Over the last few months, many of the cryptocurrencies have been bearish, with major ones like Bitcoin and Ethereum also nosedive.

At the time of writing, Ripple price was had dropped by about 5.27% with a hitting a high of $0.6185 and a low of $0.5828 in the last 24 hours.

Now let’s take a look at the reasons behind the nosedive.

What is Ripple?

Before we delve into the recent bearish trend, it’s important we first explain what Ripple is for those coming across it for the first time.

Ripple is a company that runs a digital blockchain-based payment platform called RippleNet that uses XRP as its native cryptocurrency.

Despite having issues with the US SEC, Ripple has partnered with a number of financial service providers to make cross-border transactions seamless, traceable, and affordable,

What has caused the long Ripple (XRP) price drop?

Most investors are bearish on XRP following a three months-long nose dive.

However, although Ripple has been the most controversial blockchain-based project for a while, the token has remained in the top ten position cryptocurrency in the market.

According to CoinMarketCap, the trading volume was up 6.72% despite a 5.31% drop by market cap. The surge in the trading volume is mainly attributed to an increase in the selling volume as the token price drops.

Ripple had attempted a bull run at the beginning of October after a partnership between Nelnet and Ripple to lower the impact of cryptocurrencies on the environment. But the Bull Run was very short-lived. It only took days for XRP to turn bearish.

Today, XRP has hit a high of $0.6021 and a daily low of $0.58 which is being attributed to the increased selling pressure.

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