August 2022 - Seite 76 von 84 - Finanzmittel Info + Krypto + Geld + Gold

3. August 2022

Two old-school cryptocurrencies that could surprise investors in 2022

The cryptocurrency market is never short of surprises. In 2021, Shiba Inu came out of nowhere and became one of the best-performing cryptocurrencies. Its 48,000,000% rally created lots of millionaires out of small investors. At the moment, the cryptocurrency is seemingly at the end of a multi-month bear market. As such, it can be an excellent time to start scouting for cryptocurrencies that have the potential to rally unexpectedly and give investors a high ROI. From our analysis, here are three cryptocurrencies that could rally unexpectedly in the next cryptocurrency bull run.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been around for a while now. However, Ethereum Classic has underperformed Ethereum for years. That’s because, after the 2016 fork, the momentum shifted towards Ethereum, relegating ETC to an outlier chain.

However, changes in the Ethereum blockchain have created the perfect conditions that could give a new lease of life to Ethereum Classic. One of these conditions is the upcoming Ethereum merge.

After the merge, the Ethereum blockchain will run purely as a Proof-of-Stake network. Miners who own Ethereum ASIC miners are likely to turn to Ethereum Classic. That’s because it is the only other cryptocurrency with which Ethereum mining equipment is compatible.

Ethereum Classic is one of the best performing cryptocurrencies in July, as Ethereum miners turn to it. As more miners turn to support ETC, the network will become more secure, which could also drive adoption. This factor could make ETC one of the top cryptos with good odds of outperforming the market in the next bull run.

NEO (NEO)

Neo (NEO) is another old-school cryptocurrency that underperformed in the last cryptocurrency bull run. This is because it has been overtaken by newer cryptocurrencies that investors believe have better prospects. However, there is a good chance that NEO could do well in the future. That’s because the NEO team has reimagined NEO, making it attractive for Web 3.0 projects. Given that Web 3.0 is expected to be the next big thing in the evolution of blockchain technology, NEO could give investors a surprise going into the best.

Besides this, NEO is one of the easiest blockchains for anyone looking to create a smart contract. This factor could draw in many businesses looking to make smart contracts without investing much in coding experts. It is one of the factors that could see NEO pull a surprise, especially now that it is starting to attract attention again.

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3. August 2022

VeChain price prediction as bullish momentum remains on course

VeChain blockchain endears to solve complex supply chain problems
VeChain token is recovering alongside other cryptocurrencies
The token has more upside potential but could face resistance

A snapshot of the crypto market shows that most cryptocurrencies are gaining again. Bitcoin is up by 2.08%, while Ethereum has gained by 5.05% in the last 24 hours. As expected, most altcoins surge whenever the top cryptocurrencies post gains. VeChain VET/USD is one of the cryptos going higher.

VeChain is a blockchain that aims to tackle complex supply chain issues via distributed ledger technology. While the technology remains at an infant stage, the VeChain token saw a lot of interest last year. That pushed the token to a high of $0.28 in April 2021. Since then, the token has lost its mojo and trades at merely $0.029, 10 times less. Investor interest could grow at such attractive valuations, but where are the buyers?

VET has witnessed buyer interest in the past week. With gains of 27%, the token rivals some few cryptocurrencies with similar double-digit gains. That happened after the cryptocurrency remained stable since mid-June. Technical indicators suggest more upside, although long-term recovery will take time.

VeChain token gains as bullish momentum accelerate

Source – TradingView

On the technical outlook, VeChain is bullish but trades below key resistance at $0.033. That represents an upside potential of around 14%. However, VeChain is already overbought, with the RSI reading pointing to 70. That means we might see short-term retracements before the token hits $0.033. We recommend buying in the short term on a potential retracement at the current level.

While long-term gains are possible, buyers should be aware of the key resistance. A breakout of the level would usher in a more lasting bullish momentum.

Summary

VeChain is likely to maintain the current momentum. Some short retracements are possible, although the token’s resistance is at $0.033. Investors should consider buying on short dips and ride the trend to the resistance level.

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3. August 2022

Optimism adds 98% in a week – Is the rally driven by fundamentals?

Optimism token has surged by almost 100% in one week
Positive developments in July have been boosting the token
Investors should buy on a retracement

Investor interest is back on Ethereum Layer-2 scaling solution Optimism. Over the past one week, the token has gained more than 98%. That, of course, underlines the gains other Ethereum-based tokens have been experiencing. Cryptocurrencies such as Ethereum Classic have also been top gainers. Nonetheless, a further scrutiny of Optimism reveals underlying fundamentals driving the surge.

On July 26, Optimism announced the launch of Drippie. Drippie is a trust-minimized conditional transaction system of Ethereum. It will let users conduct transactions following set conditions. Optimism expects the system to solve automation issues that will increase the performance of the blockchain.

The integration follows another positive development on July 24. Curve Finance had announced a grant proposal that would raise liquidity on Optimism. The move is expected to allow one million Optimism tokens to be distributed on the Curve pool. Liquidity providers will be incentivized with the OP tokens.

OP token has been getting boosts from the July developments. But to an investor, is the token now attractive or a bubble burst is about to happen?

Optimism trades at a high level but faces immediate resistance

Source – TradingView

While the recent developments are positive for OP, the current price could be unsustainable. The RSI points to overbought conditions, and a correction is more probable. We recommend investors buy on a retracement. The token could potentially slide to $1.45 as it already faces resistance at $1.88.

Concluding thoughts

The latest developments increase the utility of the Optimism token. At the current valuation, investors should consider buying lower as corrections are more imminent. The potential support zone is at $1.45.

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3. August 2022

ApeCoin shoots 15% above the breakout zone as retail interest grows

ApeCoin gained 15% on Wednesday amid growing investor interest
The token was accepted as a payment method by Gucci
APE remains supported above a breakout zone with an opportunity for further gains

ApeCoin APE/USD was the center of retail interest on Wednesday. The token rose more than 15%, with social media mentions growing. The gains were widespread across the crypto sector, suggesting that sentiment remains intact.

The gains in ApeCoin come amid good fundamentals supporting the token. Italian high-end fashion house Gucci announced the acceptance of ApeCoin for purchases in the US. The move allows Gucci to become the first major brand in the US to accept payments in APE. Customers will be allowed to make in-store purchases with APE BitPay.

The latest announcement increases the utility of ApeCoin’s token. The blockchain also has the Otherside metaverse project in the pipeline. Once the project becomes a reality, ApeCoin will hit new levels. For now, we believe APE has more upside potential, and investors should consider buying.

ApeCoin gains above the breakout zone after acceptance of token by Gucci

Source – TradingView

Technically, ApeCoin is initiating a new bullish momentum above the breakout zone of $6.1. The token is almost overbought, with an RSI reading of 67. That suggests that investors are circling the token amid positive developments. The moving averages also continue to support the token.

We believe ApeCoin will continue rising after the recent bullish push. The token will remain supported at $6.1, and any potential retracement will be rejected at the level. The target is at $9, although it could rise higher if the bullish momentum remains.

Summary

ApeCoin is bullish after breaking above $6.1. The bullish momentum is supported by the acceptance of the token by Gucci. Crypto sentiment also remains strong. Buy on short retracements or at the current level.

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3. August 2022

Binance has ‘a lot of dry powder’ for crypto acquisitions: CEO

Binance has appointed co-founder Yi He as Head of Binance Labs to spearhead company’s investments, including an aggressive approach towards getting acquisitions over the line.
But Binance will only acquire or give money to struggling crypto companies that have good products and are well-managed.
To that effect, Binance has ‘more dry powder’ than any of the competitors in the crypto industry.

Binance CEO Changpeng ‘CZ’ Zhao says his crypto company is well capitalised and ready to go on an acquisition spree if it helps the market, confirming to Yahoo Finance Live in a Wednesday interview that Binance has “a lot of dry powder” to that end.

CZ also commented on the broader crypto regulation landscape, Binance.US’ delisting of the Amp (AMP) token and recent hacks – his remarks coming after this week’s exploits on Nomad bridge and Layer blockchain Solana.

Binance is eyeing acquisitions

With several crypto companies coming under distress in the past few months amid the crypto winter, one of the firms to take an aggressive approach towards acquisitions has been FTX – the crypto firm founded by Sam Bankman-Fried.

Bankman-Fried’s FTX and Alameda have put a combined $1 billion+ into deals, including with potential acquisition for crypto lender BlockFi. The crypto billionaire’s empire even has a proposal to take up assets of embattled Voyager Digital.

So, does Changpeng Zhao’s Binance have a similar outlook even as the crypto industry navigates the bear market?

According to the Binance chief, that’s exactly what they are ready to do. He told Yahoo Finance Live:

“We have a lot of dry powder…we have more dry powder than almost anyone else we know in the space. So we do want to use that to do acquisitions.”

So, Binance has a lot of cash or other such other highly liquid funds sources to put into investments as the market pushes through the ‘winter’.

However, CZ was quick to mention that most of the troubled crypto companies in the industry today “are not well-managed”, noting that this is why Binance is unlikely to seek to acquire them. But if these are “well-managed, with good products, but just short of cash,” then Binance will be ready to acquire them.

To the effect that his firm is working on acquisitions in the industry, Zhao pointed to the appointment of Binance co-founder Yi He at Binance Labs, the company’s venture capital arm currently managing over $7.5 billion in assets.

Yi will help Binance aggressively pursue several investments in the short term, Zhao explained.

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