Monat: September 2022

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Flow price prediction: Is it safe to buy this crypto dip?

Flow price has been in a strong bearish trend in the past few weeks as cryptocurrencies recoil. The coin has crashed to a low of $1.8750, which was about 50% below the highest level in August, giving it a market cap of $1.9 billion.

Flow growth continues

Flow is a leading blockchain project that seeks to become the best platform for developers to build quality applications. It is a proof-of-stake (PoS) platform that is known for fast speeds and low costs of transactions. 

Flow is also known for its high-profile partnerships. For example, it is the blockchain partner for organisations like the NBA, UFC, NFL, LaLiga, Samsung, and Ubisoft among others. According to the developers, there are over 8,000 builders in its ecosystem. It also has over 13 million account wallets and over 2 million transacting wallets.

Flow has seen strong growth in the past few months. In particular,  the network has seen strong growth of its NFTs, especially now that Instagram adopted the network. According to CryptoSlam, the total volume of NFT sales in its ecosystem was over $15.8 million. That was an improvement from the previous two months’ $11 million.

Flow has also done well in decentralized finance (DeFi). According to its website, the total value locked (TVL) in its ecosystem has risen to over $3.7 million. This growth was helped by Increment Finance, which is a platform that enables people to deposit, earn, borrow, and trade digital assets.

The recent weakness of Flow is mostly in line with the performance of digital currencies.The prices of most coins like BTC and ETH has been in a strong downward trend as the US dollar index continues rising. 

Flow price forecast

The four-hour chart shows that Flow has been in a strong bearish trend in the past few weeks. Along the way, the coin has managed to move below the 25-day and 50-day moving averages. The Stochastic Oscillator has moved below the oversold level. It has moved slightly above the important support level at $1.6731. 

Therefore, the coin will likely continue falling as sellers target the next key level to watch will be at $1.50. A move above the resistance level to watch will be at $2.20.

The post Flow price prediction: Is it safe to buy this crypto dip? appeared first on CoinJournal.

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Ravencoin is up by 9% on Monday: Here is why

Ravencoin is up by 9% in the last 24 hours, making it the best performer amongst the top 100 cryptocurrencies by market cap.

RVN, the native token of the Ravencoin blockchain, is the best performer amongst the top 100 cryptocurrencies in the last 24 hours. It has added 9% to its value so far today, outperforming the broader market in the process. 

The cryptocurrency market is starting the week in a positive fashion, with the market up by less than 1% over the last 24 hours. The total crypto market cap remains below $1 trillion, despite today’s positive performance.

Bitcoin is still trading below $20k after losing more than 1% of its value in the last seven days. The leading cryptocurrency is still trading in the red zone today. Ether has maintained its position above $1,500 and is up by less than 1% on Monday.

Ravencoin’s positive performance comes after a cold storage wallet was revealed for the RVN coin. The Ice Wallet Storage will soon launch and will support the RVN coin.

Key levels to watch

The RVN/USDT 4-hour chart is positive, as Ravencoin has been performing well over the past 24 hours. The technical indicators show that RVN is outperforming the broader cryptocurrency market.

The MACD line is within the positive region, indicating bullish momentum for Ravencoin. The bullish momentum comes as the broader market is recovering from its recent bearish slump.

The 14-day relative strength index of 61 shows that RVN could enter the overbought region if the rally can be maintained.

At press time, RVN is trading at $0.03203 per coin. If the bullish momentum persists, RVN could surge past the $0.035722 resistance level before the end of the day. However, it would need the support of the broader crypto market to cross the $0.040577 resistance level in the short term.

The bears might regain control of the market and push RVN below the $0.028675 support level. However, RVN should comfortably defend its position above the $0.024799 support level in the near term.

The post Ravencoin is up by 9% on Monday: Here is why appeared first on CoinJournal.

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LG Electronics launches its NFT platform on the Hedera network

LG Electronics has launched its nonfungible token (NFT) platform on the Hedera blockchain.

LG Electronics announced the launch of its NFT platform on Monday, September 5th. The NFT platform, called LG Art Lab, is on the Hedera blockchain and allows users to discover, buy, sell and trade NFTs on LG’s smart TVs.

This latest development comes eight months after the company announced that it planned to incorporate NFT features into its smart TV. 

LG’s NFT platform is now available to its customers in the United States and is exclusive to those with LG TV running webOS 5.0 or later and is accessible directly from the home screen.

LG Electronics announced that it partnered with the Hedera network to offer an app that allows its users to buy NFTs via Wallypto, LG’s crypto wallet for smartphones.

While commenting on this latest development, Chris Jo, senior vice president, head of platform business at LG Electronics home entertainment company, said;

“Wallypto, built on Hedera, has been developing since September 2021. Its beta version of the wallet launched this week in August. “While many people have heard of NFTs and would like to participate in the growing ecosystem, it can be overly complex and difficult to get started. LG Art Lab is designed to allow millions of users in the U.S. to easily access and display NFTs, without having to interact with code or directly with a blockchain themselves.”

LG Electronics first partnered with Hedera in 2020 when LG became a part of the Hedera governing council. The council includes other prominent names such as Google, IBM, Deutsche Telekom and the Indian Institute of Technology, 

Jo explained that;

“The Hedera Network consumes vastly less energy than any other public ledger, making it the ideal choice for sustainable initiatives and meaning that it can meet the ESG of modern businesses and investors. Users can buy, sell and display NFTs on the Hedera network without worrying about the high energy consumption associated with other public networks. Furthermore, Hedera guarantees a low, predictable fee for users, unlike many other decentralised networks.”

The LG team said the NFT platform provides a Drops feature. The feature profiles artists and showcases their new artwork previews. Furthermore, the platform’s real-time Live Drops feature gives notifications to help users acquire a dropped NFT to ensure they do not miss an opportunity.

The team chose Hedera because the blockchain enables users to transact for less than $0.0001 cent per transaction (with no high gas fee or hidden costs). Hence, there are no hidden costs associated with using the LG NFT platform. 

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