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Significant downside risk could push Decentraland (MANA) to $1 in the coming days

Decentraland (MANA) has continued to push lower over the last few days. The coin has in fact been under pressure for all of April. Sadly, it doesn’t seem like things will improve soon as MANA sells off. Here is what you need to know:

  • Despite consistently dropping for the last month, a trend reversal for MANA is unlikely for now.

  • The coin may bottom at $1 in the near term before its next bull run

  • MANA has closed in the red for 5 straight trading sessions.

Data Source: Tradingview 

Decentraland (MANA) – price prediction 

April has been one of the most difficult months for MANA. The coin has largely been on a downtrend for the whole month, and while there were some signs the sell-off could ease, so far, the price action has failed to rally. But the worse is not even over yet.

In fact, we do not expect any reversal of this downtrend anytime soon. As a result, MANA will continue to fall in the near term and could bottom at $1 before its next bull run. This will be a loss of nearly 50% from its current price.

Besides, MANA’s fall did not start in April. The coin had in fact peaked in February and was trading at around $3.55. This was the best price in 2022. However, MANA has lost over 50% from those highs, with more losses expected to come in the coming weeks.

Will MANA rise again?

Yes, MANA will rise again. The metaverse coin still has a lot of upside in the longer term. However, current sentiment in the market remains very unpredictable. 

We are likely to see a sustained period of volatility and selling pressure before the price action finally stabilizes. Despite all this, we still think that MANA will deliver incredible returns this year, even though it will struggle to hit the success of 2021.

The post Significant downside risk could push Decentraland (MANA) to $1 in the coming days appeared first on Coin Journal.

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Best Ethereum DEX coins to buy and hold right now

Decentralized exchanges are often seen as an integral part of the crypto industry. As such, over the years more and more DEXs have been launched on Ethereum and other blockchains. But why are DEXs actually getting so much attention from investors? Here are some reasons:

  • Many DEXs are solving the liquidity limitations that have curtailed their growth for years.

  • DEXs are seen by crypto traders as safer and more private compared to central exchanges.

  • Growth in DEX trade volume is going to keep rising in the near future.

Well, for investors looking for the best Ethereum-based DEXs to invest in, we have three coins below that should be perfect.

UniSwap (UNI)

Uniswap (UNI) is the king of DEXs. It was in fact one of the first such platforms to be built on Ethereum. Other DEXs have followed suit, but most are modeled behind the UniSwap original concept.

Data Source: Tradingview 

At the moment, Uniswap remains the biggest DEX on Ethereum. It also recorded nearly $51 billion in trade volume in January, one of the highest in the market. If you are looking for a tried and tested DEX with a proven track record of success, Uniswap is just perfect.

dYdX (DYDX)

dYdX (DYDX) is designed for derivative traders. It offers access to a huge range of perpetual contracts and futures on several crypto assets. It is also fast, secure, and offers lower fees compared to many derivative trading platforms out there. On average, the platform gets around $6.5 billion in daily trading volume.

1Inch Network (1Inch)

1Inch Network (1Inch) is a liquidity aggregator and DEX that offers users peer-to-peer crypto trading. It is also providing the infrastructure needed to expand DeFi all over the world. The network offers cross-chain liquidity aggregation and makes it easier for traders to buy and sell crypto assets with very minimal slippage fees.

The post Best Ethereum DEX coins to buy and hold right now appeared first on Coin Journal.

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Top 3 coins that are changing DeFi in 2022

It is largely expected that 2022 will be the year of decentralized finance or DeFi. New and exciting projects in DeFi are coming out while existing projects are getting bigger. Here are reasons why DeFi will explode in 2022:

  • Institutional investors are eying up DeFi projects

  • Innovation in DeFi is growing by the day with more successes expected in 2022.

  • DeFi has the potential to become its own independent sector free from the broader crypto market.

So, if you are looking for DeFi projects that will have a huge impact on the industry this year, we have a top 3 list below.

GoldFinch (GFI)

GoldFinch (GFI) is a decentralized lending protocol that allows users to access crypto-backed loans without collateral. The project is one of the few in the market today that is offering uncollateralized loans.

Data Source: Tradingview 

According to data from the website, over 200,000 users are already benefiting from its loans. GoldFinch is targeting users across emerging markets where the need for credit is highest. It is one of those projects that solve a real need and is likely to expand further in 2022.

Trader Joe (JOE)

Trader Joe (JOE) is a highly liquid decentralized exchange built on the Avalanche network. It is the main DEX for avalanche too, and is designed to facilitate peer-to-peer crypto exchange around the world. Trader Joe also provides liquidity and yield farming pools that allow users to earn rewards. It is characterized by fast transactions, low arbitrage fees, and security.

Convex Finance (CRV)

If you are looking for a reliable liquidity aggregator that will help you stake and earn rewards, then Convex Finance (CRV) will be ideal for you. It is an established DeFi project of course, with a market cap of around $1.5 billion. But there is still so much potential, and CRV is likely to jump even further.

The post Top 3 coins that are changing DeFi in 2022 appeared first on Coin Journal.