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Monero v DASH – Which one is a better buy?

Monero has news that could see it do better in the short term. 

Key Points:

  • Monero, one of the best privacy coins in the market, is set to start tail emissions. This will guarantee miner support in perpetuity.

  • DASH continues to grow in adoption as a means of everyday trade.

  • While Dash and Monero could do well long term, Monero has better prospects in short to medium term. 

Monero (XMR)

Monero is one of the best privacy coins in the market today. One thing that makes Monero stand out is that it has all the characteristics of true money. This is because it is fungible, meaning every Monero coin has the same as the next one. Just like all dollar bills have the same value. This is a feature that even Bitcoin doesn’t have because Bitcoins can be blacklisted for whatever reason. As cryptographic currencies grow in importance in the global economy, Monero has a place as one of those that could gain adoption fast.

Dash (DASH)

Like Monero, Dash is a privacy coin and also one of the older cryptocurrencies in the market today. Dash is also one of the most adopted cryptocurrencies in the world today. For instance, in Latin America, DASH transactions are commonplace. With most cryptocurrencies lacking a clear use case, DASH’s high level of adoption gives it a high potential for growth going into the future. 

Which one is a better buy?

Both Monero and Dash are among the most solid cryptocurrencies today. Their biggest value drivers are tokenomics (low coin supply) and usage for everyday transactions. They don’t just exist for speculative purposes.

However, in the short to medium term, the odds favor Monero. That’s because it has news coming up. On the 9th of June, 2022, Monero will start a fixed reward for miners. The goal is to incentivize miners to keep the network active, even as competition drives mining rewards lower. This is a big deal as it guarantees that Monero will have miners supporting the network in perpetuity.

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Onchain metrics show that DogeCoin has a possible 50% upswing

DogeCoin has started to find some momentum after days of trading sideways. Although the coin is slightly underperforming the rest of the crypto market, it may be poised for a decisive run in the near term. This bullish thesis is based on both technical analysis and on-chain data. Here are the highlights:

  • DOGE has shown a minor retracement towards $0.082 over the past few days

  • This is a crucial demand zone that could trigger a bullish break towards $0.125.

  • On-chain transaction data also shows that DOGE has the potential to hit $0.133.

Data Source: TradingView

DogeCoin – Is the bull run finally here?

For the most part of 2022, DOGE has seen a major decline. The downtrend has largely been triggered by growing risk-off sentiment in the market. Investors appear to have avoided major investments into meme coins. The May crypto crash also saw DOGE and other meme coins hit hard. 

However, the coin consolidated and is now finding steady demand as the overall market rallies. DOGE has, as a result, triggered a slight retracement towards $0.082. This is a very important demand zone, and if bulls can keep the price action there, it could trigger a buying frenzy that finally pushes DOGE towards $0.125.

But this is not the ultimate goal. On-chain metrics also appear to suggest that the upward ceiling will only slow once DOGE hits $0.133. If this happens, the coin will deliver over 50% in gains over the coming weeks.

How far can the meme coin go?

If the setup above plays out as expected, then you should expect a long period of gains for DOGE. In fact, even if the coin retreats from the highs of $0.133, we do not think it will sell off that much. The second half of the year could offer a big opportunity for DOGE bulls.

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Waves fast recovery could push the token towards $12

As the crypto market starts to rally, several major coins have reported modest gains. However, Waves appears to be outperforming the entire market by huge margins. The coin is seeing rapid recovery and a trend reversal that could deliver immense gains in the near term. Here are the highlights:

  • WAVES has surged by around 60% in the last 24 hours

  • The coin has managed to reclaim two important support zones in this bull run

  • The momentum will likely push WAVES towards $12 in the coming weeks.

Data Source: TradingView 

WAVES price analysis and prediction

In 2022, the broader crypto market has seen major weakness. But despite this, WAVES has remained one of the most stand-out performers. The coin however saw one of its worst sell-offs of the year in May. The step decline pushed it towards a bottom price of $4.18. It seemed at the time that all the momentum and the gains WAVES had built this year were all gone. 

But we are now seeing a stunning recovery. In fact, WAVES has surged by nearly 120% from its lowest price in May. The coin is now testing the crucial overhead resistance of $9.2. 

If indeed WAVES is able to cross above this, it will surge towards $12 in the coming days. This will represent gains of around 50% from the current price. It will also mean that WAVES would have delivered nearly 3x gains in barely weeks.

Can WAVES keep the uptrend going?

It’s not the first time WAVES has rallied impeccably this year. However, in almost all these instances, the coin has retreated sharply from highs. The key in this bull run will be to see how long the price will stay above $12.

If there is consolidation there for a few days, then a retreat will be less severe. But in the short term, WAVES offers incredible upswing potential.

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Soros Fund CEO says crypto is mainstream and ‘here to stay’

Soros Fund Management CEO and CIO Dawn Fitzpatrick says crypto is going nowhere given its already mainstream. 

The Soros’ executive made the comments during an interview with Bloomberg, noting that the entry of major mainstream players like Fidelity Investments was a key development.

In her response on what she thought of crypto in terms of “taking off” or being hindered by government regulation, Fitzpatrick said “it’s here to stay.”

“I think it’s gone mainstream,” she added, noting that “Fidelity just announced you can put it in your 401(k).”

Soros Fund Management is a top investment management firm founded by investor George Soros. The family office confirmed it held some bitcoin in October last year.

On Bitcoin and Ethereum

Regarding the future of the top two cryptocurrencies by market cap today (Bitcoin and Ethereum), Fitzpatrick thinks the smart contracts platform is set to see more traction than Bitcoin. 

According to her, the issue of climate change could be the difference that pushes Ethereum above the pioneer cryptocurrency.

She told Bloomberg:

“The one caveat I would say is, first of all, climate impact is going to become increasingly in focus. So, in that context, I think Ethereum is likely to gain some more traction over Bitcoin.”

Bitcoin is a proof-of-work (PoW) blockchain network that uses a lot of energy to process transactions and maintain network security. Notably, Ethereum is inching closer to fully transitioning from PoW to proof-of-stake (PoS), a network mechanism that’s deemed more eco-friendly. 

Blockchain applications

In other comments, Fitzpatrick noted that so many companies entering the crypto and blockchain space hold “massive Treasury accounts” with loads of different coins, which she thinks could expose them to near term vulnerability.

“But that said, I think blockchain technology is going to have some great applications and crypto is here – today,” she concluded.

Fitzpatrick’s comments come at a time when crypto is battling a bear market that has seen Bitcoin and Ethereum lose over half of their market value. However, industry figures continue to bet on the sector’s future, noting that a ‘crypto winter’ is the best time to build.

Recently, venture fund Andreessen Horowitz announced plans to invest billions in projects within the crypto and Web3 space.

But Terra (LUNA)’s debacle, including the collapse of its algorithmic stablecoin TerraUSD (UST), has the regulatory antennae firmly fixed on the sector. 

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