Monat: Januar 2022

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Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend?

The general outlook on Sandbox (SAND) over the last few weeks has been bearish. The metaverse token is now approaching a crucial support point in its price action. What happens from there will determine how it fairs in the near term. But can Sandbox (SAND) break the downtrend? The analysis is below but first, some highlight:

  • Sandbox (SAND) is rapidly sliding down to its support zone of $4.2 after a bearish start to the year.

  • This support level has however held strong after being tested twice before but bear pressure is very high.

  • At the time of writing, the token was trading for $4.31, slightly above this zone and up around 2.5% in 24 hours.

Data Source: Trading view

Sandbox (SAND) – Price action and analysis

Like most coins in the crypto market, Sandbox (SAND) has seen a consistent decline for most parts of the year. The coin is in fact trading 15% lower compared to seven days ago albeit it has managed to pair up some of those losses with a 2% intraday gain. 

However, the downtrend has sent SAND towards its crucial support of $4.2. The support has been tested twice before this year and held strong. But if SAND fails to hold off the downtrend this time and falls below the $4.2 mark, the coin could tumble even further towards $3.3 and eventually $2.8. 

But, if bulls can hold off the pressure and maintain gains above that threshold, a quick rebound towards $4.6 is quite feasible in the near term.

Should you buy Sandbox (SAND)

Yes, Sandbox (SAND) is one of the most popular tokens right now due to the anticipation of the metaverse. The token was also one of the big performers in 2021, and despite the rocky start into the new year, long-term Sandbox (SAND) will still deliver incredible value to investors. It is therefore a decent buy right now.

The post Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend? appeared first on Coin Journal.

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Here are three reasons behind the recent Propy (PRO) price surge

The price of Propy (PROP) token saw an astronomical rise between January 10 and January 18, before going into the current pullback that is small compared to the kind of surge the token made.

Propy (PROP) token is the native token of the Propy protocol, a protocol that integrates blockchain technology with the real estate sector by automating the whole process of home buying to make it simpler, secure, and faster.

In the course of 2021, Non-Fungible Tokens (NFTs) had gained popularity through digital images like the CryptoPunks and Bored Ape Yacht Club. However, Propy is determined to expand the functionality of the NFTs past the digital art space into the real estate NFTs.

Why the surge in Propy price?

The recent Propy price surge was a result of the growing potential of NFTs for use in different cases, its token listing on Coinbase exchange, and the first sale of the real estate NFT.

The Coinbase listing

The price surge of the PRO token on 14th Jan was mainly contributed by the listing of the second largest cryptocurrency exchange globally by volume, Coinbase which serves US-based investors.

Before Coinbase listing, the PRO token was only available on a few exchanges like the Bitrue, Huobi Global, and decentralized exchange Uniswap.

The first real estate NFT in the U.S.

The upcoming sale of the first real estate NFT in the U.S has been the second development that boosted the trading volume and the price of PRO.

According to Propy founder and CEO Natalia Karayaneva, the reason behind choosing Florida as its U.S-based real estate sale is the growing market and the 0% state individual income tax policy, positive future price growth and demographic statistics, and a crypto-friendly state government.

As they make their first real estate sale in Tampa U.S, TechCrunch founder, Michael Arrington, already sold his Kyiv apartment for 36 Ether back in 2017, which was Propy’s first-ever NFT sale.

The rising popularity of NFTs and blockchain technology

The overall growth in awareness in blockchain technology and the NFTs has also been another reason behind Propy building momentum.

Last year NFT interest and trading volume increased public awareness of integrating NFTs with corporate contracts and houses which has been a topic of discussion for years.

Real estate has been preferred as a safe haven for investors who are looking for a secure place to store their wealth.

With the integration of blockchain technology and NFTs, the process of buying and holding real estate will soon enter the 21st century since the middlemen will be limited lowering the cost of the whole process.

The post Here are three reasons behind the recent Propy (PRO) price surge appeared first on Coin Journal.

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Here is the reason behind the current Terra (LUNA) bullish trajectory

Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins to influence the price of stable global payments systems, has surged by 4.78% in the last 24 hours.

LUNA is currently the fourth largest stablecoin in the market.

It is currently trading at $82.69 with a 24-hour trading volume of $1.6 million.

Why the bullish momentum.

The current Terra (LUNA) bullish trajectory is associated with the latest news about the unveiling of the LUNA Foundation Guard (LFG), whose main objective is to sustain and support open-source technology.

From Terraform Labs, the LUNA Foundation Guard secured an initial gift allocation of 50 million LUNA tokens.

The Co-Founder and CEO of Terraform Lab, Do Kwon said:

“The LFG mandate to continuously support the peg stability of Terra’s stablecoins and ecosystem development powered by Terra’s best builders offers a new pathway for the growth and sustainability of decentralized money. A decentralized economy needs decentralized money, and LFG provides another nexus of resources to achieve that goal”.

The LFG will focus on fund allocation to the development of the Terra ecosystem and also safeguarding the UST peg in volatile market conditions and building reserves

Marketing the Terra economy

To market and boost the Terra economy LFG will fund the Defi projects that have a high demand for the Terra algorithm stablecoins as they pioneer the emerging decentralized finance solutions.

LFG will also be focusing on the sustainability and the peg stability of the Terra native stablecoin Terra USD (UST) under the international council which will be adding a new builder in the Terra Ecosystem.

Regarding this development, the founder of Chromos, Nicholas Platias said:

‘’LFG’s mission is going to reshape how the industry views algorithmic stablecoins and their long-term sustainability. The LFG offers another lever for closing the demand loop of Terra stablecoins, building a vibrant economy around their usage across Web 3 applications, and providing more robust peg defenses during volatility’’.

Terra LUNA has tirelessly worked its way through to the top ten crypto list and is currently ranked 9th according to data from Coinmarketcap.

The post Here is the reason behind the current Terra (LUNA) bullish trajectory appeared first on Coin Journal.

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DOGE, SHIB und SPELL sind die besten Meme-Token zum Kauf am 20. Januar

Dogecoin (DOGE) ist ein Token, das auf dem beliebten Internet-Meme „Doge“ basiert, der ursprünglich als Witz begann, aber heute einer der am häufigsten verwendeten Token ist, um Werte online zu übertragen.

Shiba Inu (SHIB) ist ein weiterer Meme-Token, der als „Dogecoin-Killer“ bezeichnet wird und im Laufe der Zeit zu einem eigenen Ökosystem herangewachsen ist und BONE, LEASH und ShibaSwap eingeführt hat.

Spell Token (SPELL) ist im Wesentlichen der Belohnungstoken auf der Kreditplattform abracadabra.money, die verzinsliche Token als Sicherheit verwendet, um eine als Magic Internet Money (MIM) bekannte Stablecoin zu leihen.

Sollten Sie Dogecoin (DOGE) kaufen?

Am 20. Januar hatte Dogecoin (DOGE) einen Wert von 0,16453 USD.

DOGE erreichte am 8. Mai 2021 mit 0,731578 USD sein Allzeithoch. Der Token war damals um 344 % oder 0,567048 USD höher als heute.

Am 2. Dezember hatte der Token seinen Dezember-Höchststand bei 0,2224 USD.

Sein Dezember-Tiefststand war am 13. Dezember, als er auf 0,1553 USD fiel. Dies war ein Rückgang um 0,0671 USD oder um 30 %. Vor diesem Hintergrund hat DOGE das Potenzial, bis Ende Januar 2022 0,19 USD zu erreichen, was es zu einem soliden Kaufobjekt macht.

Sollten Sie Shiba Inu (SHIB) kaufen?

Am 20. Januar hatte Shiba Inu (SHIB) einen Wert von 0,00002777 USD.

Der SHIB-Allzeithochwert war am 28. Oktober 2021 mit einem Wert von 0,00008616 USD. Damals war der Peris 210 % oder um 0,00005839 USD höher als heute.

Der höchste Dezember-Wert des Tokens war am 1. Dezember mit einem Preis von 0,0000482 USD.

Sein Dezember-Tiefpunkt war jedoch am 20. Dezember mit einem Wert von 0,00002856 USD. Dies war ein Rückgang um 0,00001964 USD oder um 40 %.

Vor diesem Hintergrund kann SHIB bis Ende Januar 2022 0,00003 USD erreichen, was es zu einem soliden Token für den Kauf macht.

Sollten Sie Spell Token (SPELL) kaufen?

Am 20. Januar hatte Spell Token (SPELL) einen Wert von 0,0123525 USD.

Der Allzeithoch-Wert von SPELL lag am 2. November 2021 bei einem Wert von 0,03506357 USD. Der Preis des Tokens war 0,02271107 USD oder um 183 % höher als heute.

Der Dezember-Tiefpunkt des Tokens war am 4. Dezember bei 0,006939 USD.

Sein Dezember-Höchststand war am 28. Dezember mit einem Wert von 0,0262 USD. Dies war eine Steigerung von 0,019261 USD oder 277 %.

Seitdem hat der Token um 0,0138475 USD oder 52 % an Wert verloren. Vor diesem Hintergrund hat SPELL das Potenzial, bis Ende Januar 2022 0,018 USD zu erreichen, was es zu einem lohnenswerten Kauf macht.

The post DOGE, SHIB und SPELL sind die besten Meme-Token zum Kauf am 20. Januar appeared first on BitcoinMag.de.