Ethereum-Kernentwickler Preston Van Loon sagt, die mit Spannung erwartete Umstellung auf einen Proof-of-Stake (PoS)-Konsensmechanismus soll im August kommen.
KuCoin price has nosedived. Should you buy the KCS dip?
The KuCoin Token price declined sharply during the American session on Friday. The token slipped to a session low of $19.34, which was its lowest level since March 28th this year. KCS has declined by more than 12% from its YTD high, bringing its total market cap to over $1.4 billion.
Is KCS a good buy?
KuCoin is one of the biggest companies in the cryptocurrency industry. The firm runs a popular exchange that handles billions of dollars every day.
Like other companies in the industry, KuCoin has launched its personal token known as KCS, which is used to incentivize usage of the platform. Holders of the coin usually receive a discount whenever they use it to trade.
The KuCoin price has held better than other cryptocurrencies in the past few weeks. This performance is mostly because of the funds that the company raised last week. The firm raised $150 million from a group of investors such as Jump Trading, Circle Ventures, and Matrix Partners. It valued the firm at $10 billion.
The new funding round was surprising for two main reasons. First, many venture capital firms are struggling as the value of their holdings have fallen. For example, Tiger Global and Softbank have lost almost $50 billion combined this year.
Read our comprehensive review of KuCoin here.
Second, the round was surprising since the crypto industry is struggling as it was evidenced in the most recent results by Coinbase. The firm lost over $400 million in the first quarter. Worse, its market cap has dropped to about $14 billion as a publicly-traded company. At its peak, it was valued at over $75 billion.
KuCoin intends to use the funds to expand its business to other sectors like Web3. This will include building decentralized exchanges, games, and other products.
KuCoin token price prediction
Turning to the four-hour chart, we see that the KCS price diverged from other cryptocurrency prices. On the four-hour chart, the coin formed a cup and handle pattern that is shown in black. It has now pulled back and moved sharply below the upper part of the pattern.
It has also moved slightly below the 25-day and 50-day moving averages while the Relative Strength Index has moved below the oversold level. Therefore, the sell-off will likely continue as sellers target the key support at $18.
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Jasmy Coin price prediction: Will ‘Japan’s Bitcoin’ Recover?
The Jasmy Coin price has lost its momentum in the past few weeks as concerns in the cryptocurrency industry continue. The token is trading at $0.01120, which is about 96% below its all-time high. Its performance has mirrored that of other large and small cryptocurrencies like Bitcoin and Dogecoin.
Jasmy loses momentum
Jasmy Coin is a relatively small blockchain project that was started by former senior executives at Sony, one of the biggest firms globally. It is popularly known as Japan’s Bitcoin.
Jasmy describes itself as a platform in the Internet of Things (IoT) space. Precisely, it helps companies and individuals manage their data well. The developers also hope to become leading players in the metaverse industry. They recently launched their metaverse fund that will fund developers in the space.
Jasmy is still in its early days and has managed to make partnerships with some of the biggest companies in Japan.
There are several reasons why the JASMY price has dropped sharply in the past few months. First, as you have seen in the crypto market, this decline has been across the board. This means that all coins, including giants like Bitcoin and Ethereum have all declined sharply. Historically, cryptocurrencies tend to be highly correlated.
Second, being a small coin that is not offered broadly, Jasmy has suffered because of liquidity challenges. In other words, people are afraid of buying the coin because they are unsure about its future.
Further, there have been rising worries about monetary policy globally. The Ged has become one of the most hawkish central banks globally. Its officials have already committed to accelerating interest rate hikes in the coming months. Quantitative tightening is also on the table. Historically, risky assets like Jasmy coin tend to underperform in a period when the Fed is hiking interest rates.
Jasmy Coin price prediction
The four-hour chart shows that the Jasmy Coin price has been crawling back after falling to a record low last week. At the time, the coin fell to $0.0080. It then bounced back and reached a high of $0.015. The coin has remained below the declining trendline that is shown in red. It is also oscillating along the 25-period and 15-period moving averages.
Therefore, the outlook for the Jasmy Coin is bearish as long as it is below the descending trendline. A move above this weeks high of $0.015 will signal that bulls have prevailed and will push it to $0.020.
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