Monat: April 2022

Veröffentlicht am

Here’s why Bored Ape Yacht Club NFT’s floor price hit an all-time high today

The floor price of Bored Ape Yacht Club (BAYC) NFTs, one of the most popular and fast-growing NFT collections, has hit an all-time high (ATH) as its native token (APE) also continues to outpace other cryptocurrencies in the market.

In this article, we will focus on the rationale behind its fame and what has caused its NFT floor price to hit a new all-time high.

Bored Ape Yacht Club NFT collection

Before delving into the reasons why the floor price of BAYC NFTs has shot to an all-time high today, it is important to first explain what the BAYC is.

In a nutshell, Bored Ape Yacht Club is a collection of 10,000 Bored Ape NFTs each with unique digital collectibles that live on the Ethereum blockchain. They have different traits that range from accessories and outfits to moods and expressions.

The NFT owner is granted exclusive perks as well as creating a personal club of rich folks where only BAYC NFT holders are allowed.

Why did the BAYC NFTs’ floor price hit a new ATH?

There are two main factors propelling the floor price of BAYC NFTs upwards and they include the Bored Ape metaverse launch and the growing hype around ApeCoin.

Bored Ape metaverse launch

Yuga Labs said via Twitter, that the Bored Ape metaverse will be launched on April 30. Besides, there was a release of some more details in addition to the trailer teaser.

The metaverse will be able to support a couple of popular collections other than BAYC like CryptoPunks, World Of Women, Meebits, and spinoff Mutant Apes.

According to Yuga Labs, the NFTs will also play a major role in the upcoming metaverse, thanks to the Yuga Labs as all the NFT collections included skyrocketed in their trading activities, however Bored Ape bit all odds to be the largest NFT collection by market value.

There are also ongoing rumors that the project will be opening sales for digital land soon priced in APE.

The growing hype around ApeCoin

The other main factor is the growing hype around ApeCoin (APE) (the native token for the Bored Ape NFT collection), whose price has been a bullish trend in the past few weeks. 

The post Here’s why Bored Ape Yacht Club NFT’s floor price hit an all-time high today appeared first on Coin Journal.

Veröffentlicht am

ETH price: Top analyst’s Ethereum price outlook for this week

Here’s a top analyst’s Ethereum price outlook after ETH dropped below $3,000

Ethereum has declined below $2,900 after bulls gave up the $3,000 support level over the weekend. The drawdown in the price of Ether (ETH) comes as the top cryptocurrency Bitcoin (BTC) also faces massive sell-off pressure after dropping below $40,000.

Currently, Ethereum is trading near $$2,860 with 24-hour losses of about 2.8%. Bitcoin, on the other hand, has slipped to lows of $38,800 and is roughly 2% in the red.

Ethereum likely to retest $2,600

While he maintains a bullish outlook for top two cryptocurrencies by market cap, top crypto trader and analyst Rekt Capital sees a potential dip to lows of $2,600 for Ethereum.

“ETH has flipped ~$3050 into new resistance on the weekly timeframe,” the analyst said pointing to a chart showing Ethereum price has dropped over the past four weeks.

“As a result, ETH now has a greater chance of performing a long downside wick to even as low as $2600 on the monthly timeframe,” he noted.

Chart showing ETH/USD has dropped below a critical support level. Source: Rekt Capital

Although the prominent crypto analyst suggests that Ethereum could yet flip lower, he thinks bulls may yet see $3,000.

Highlighting Ethereum’s monthly chart, Rekt Capital says:

“ETH volatile retest of ~$3000 (black) may very well be in progress. Downside wick could go down to as low as the green Higher Low ($2600). A wick into the HL before ultimately performing a Monthly Candle Close above ~$3000 (black) would be bullish.”

Here is a chart showing the analyst’s take on what could happen next for ETH/USD.

Ethereum traded at highs above $3,500 earlier this month. Data from CoinGecko shows that at current prices, the ETH/USD pair is down nearly 11% in the past two weeks and 8% in the past 30 days.

The post ETH price: Top analyst’s Ethereum price outlook for this week appeared first on Coin Journal.

Veröffentlicht am

Top crypto price predictions: Zilliqa and Near Protocol

Cryptocurrency prices crashed on Monday as fear in the market escalated. Bitcoin dropped below $40,000 while the total market capitalization dropped to over $1.87 trillion. Some of the worst-performing coins were Near Protocol, Mina Protocol, Zilliqa, Moonbeam, and Axie Infinity, which have dropped by more than 10% in the past 24 hours. 

Investors are  getting fearful

Cryptocurrencies dropped as the mood in the market rose sharply. Indeed, a closer look across various asset classes are deeply in the red. For example, in the commodities market, the price of crude oil crashed by more than 4% while gold and silver dropped by over 2%. This makes it one of the worst days in the commodities index this year. The Bloomberg Commodity Index (BCOM) dropped by over 1.9%. 

The stock market also crashed. For example, in Europe, the CAC 40, DAX index, and FTSE 100 indices crashed by over 2%. In the United States, the Dow Jones dropped by more than 1,000 points. It has lost over 200 points in the futures market.

Therefore, cryptocurrencies are falling as investors react to the ongoing fear that the Federal Reserve and other central banks. In a statement last week, Jerome Powell warned that the bank will embrace a more hawkish policy in the coming months. As a result, the fear and greed index has moved to the extreme fear zone of 23.

Zilliqa price prediction

The daily chart shows that the ZIL price has been in a strong bearish trend in the past few days. The coin has moved below the important level at $0.1285, which was the highest point on October 21st. It has crashed by over 57% from its highest level this month. 

It has fallen to about $1.3 billion while the MACD indicator has moved below the neutral level. Therefore, there is a likelihood that the coin will continue falling as bears target the next key support level at $0.08.

Near Protocol price prediction

On the 1D chart, the Near Protocol price has dropped in the past 6 straight days. A closer look shows that the downward trend has been actually gaining momentum. It has also managed to move below the 25-day moving average while the MACD is close to falling below the neutral level. 

The coin has also formed what looks like a handle of its cup and handle pattern. Therefore, there is a likelihood that the shares will resume the bullish trend.

The post Top crypto price predictions: Zilliqa and Near Protocol appeared first on Coin Journal.