Monat: Juli 2023

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Crypto price prediction: Cardano (ADA), Solana (SOL), ApeCoin

  • Cryptocurrencies had a great week as the market cap soared to $1.25 trillion.

  • Ripple prevailed when a judge ruled that XRP was not a financial security.

  • Bitcoin and other altcoins bounced back this week.

Cryptocurrencies had a very good week after the weak US inflation data and after the SEC vs Ripple case outcome. Ripple price surged by more than 70% while the market cap of all cryptocurrencies jumped to over $1.25 trillion. Here is the weekend prediction for key coins like Cardano, Solana, and ApeCoin.

Cardano price prediction

Cardano ADA price made a strong bullish breakout after the SEC vs Ripple news, which we wrote about here. It jumped to a high of $0.375, the highest level since June 4th. This rally happened because the SEC had singled out Cardano as a financial security. As such, there is a likelihood that Cardano and its developers would prevail if the SEC brought charges.

Turning to the daily chart, we see that the Cardano price was in a consolidation phase before the Ripple news. It was consolidating at an important support level of $0.30, which was the lowest point on March 12th. 

Now, Cardano has moved slightly above the 50-day moving average. It is also trading at the 200-day moving average. Therefore, while the bullish comeback has eased, there is a likelihood that it will continue rising as buyers target the next key resistance level at $0.42, which is about 20% above the current level.

How to buy Cardano

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Solana price prediction

Solana has been one of the top-performing cryptocurrencies this week. The coin jumped to a high of $32.20, the highest level since November last year. It has risen in the past three straight days.

SOL price has jumped above the important resistance level at $25.83, the highest level on April 17th. The coin has also risen above the 50-day and 100-day moving averages. At the same time, the Relative Strength Index (RSI) has moved above the overbought level of 80. 

Stochastic Oscillator RSI has moved above the overbought point. Therefore, the coin could keep rising as buyers target the key resistance at $38.60, the highest level on November 5th.

ApeCoin price forecast

ApeCoin price has been in a strong bearish trend in the past few months. This decline happened as the volume of Bored Ape Yacht Club (BAYC) NFTs crashed. APE moved below the key support at $2.60, the lowest level in November last year. 

The token has crashed below all moving averages while the Relative Strength Index (RSI) has moved above the neutral point at 50. Therefore, the outlook of the ApeCoin token is bearish as demand for NFTs and BAYC tokens dropped.

How to buy ApeCoin

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

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Nexo

Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.

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The post Crypto price prediction: Cardano (ADA), Solana (SOL), ApeCoin appeared first on CoinJournal.

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Ripple’s win against SEC a boost to Chancer as presale accelerates

  • US court ruled in favour of Ripple in the case initiated by SEC

  • The ruling is positive for crypto, with newcomers like Chancer benefiting

  • Chancer could rise by double or triple-digit percentages in 2023

Crypto is not a security. This was the message the US judge Analisa Torres passed in making a positive ruling on Ripple’s XRP classification against the Securities and Exchange Commission. The classification was welcome in crypto quarters as XRP pumped by double digits. The ruling is positive for existing and upcoming digital assets as it clears legal uncertainty. Chancer could ride on this optimism to become a valuable asset, with the presale quickly selling out in just a month.

SEC loss is a win for crypto

The SEC’s case against Ripple has been a long-standing issue since December 2020. It would have set a precedent for the classification of digital assets, impacting their attractiveness to investors. SEC believed Ripple violated security laws through the issuance of XRP. The court’s verdict now clears the legal hurdle and represents a win for crypto as it limits SEC’s action against other digital asset entities and issuers.

The landmark win is positive for Chancer. Chancer is a blockchain-based predictive markets application that launched a presale on June 13th, 2023. A month later, Chancer raised more than $768,526 from investors in the presale. 

Investors would be excited that the court’s ruling creates a transparent market where future entanglements of crypto and the regulator are minimised. Chancer could benefit from the outcome. The enthusiasm that the presale has generated means the positive sentiment created by the ruling could boost demand. 

What does Chancer do differently?

Chancer taps into the power of peer-to-peer (P2P) relations to build a blockchain platform for betting. P2P has become popular with crypto and blockchain, as it allows users to exchange value in a decentralised manner across geographies. 

In its P2P betting model, Chancer allows users to connect with others and bet on their preferred events. Different from the existing betting methods where the bookmakers determine events, odds, and rules, Chancer lets users decide for themselves. Users create P2P markets, determine rules, fix odds, and invite other participants to bet on a decentralised platform. The bets are facilitated by the $CHANCER token, the medium of exchanging value.

But it is not just the betting element, as Chancer is designed to be a medium of investment. Users earn from creating Chancer markets, besides making successful bets on them. For investors who love passive income, there is the option to stake the native token and earn yields. Users also earn for sharing the platform with others. 

Is Chancer a 10x investment in 2023?

Cryptocurrencies are new asset classes and power innovative use cases. As we have seen in the past, cryptocurrencies can rise by more than 1,000% in a few months after launch. Chancer could be a 10x investment as it powers a user case that has not been exploited in blockchain and crypto. This also reflects the growing popularity of betting. 

Nonetheless, a 10x prediction for CHANCER in 2023 could be too early. Chancer is still on presale, and its first listing will occur in the third quarter on Uniswap. It takes a few months for valuable tokens to surge in value 10 times, which this analysis doubts could happen in 2023. Potentially a price increase of 1,000% is likely in 2024. A double or triple-digit percentage price gain is the most realistic scenario for 2023. 

Should you buy CHANCER now?

Chancer is in its first presale stage, priced at $0.01. Once the first stage concludes, the price will rise to $0.011 in the second phase. It means buying now is attractive as the price is still low.

CHANCER is also headed for listing in the third quarter. Any explosive price move would occur after listing. Buying now allows investors to ride the price momentum when the token debuts on exchanges.

The post Ripple’s win against SEC a boost to Chancer as presale accelerates appeared first on CoinJournal.

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Cross-chain bridge protocol Multichain ceases operations

  • Multichain protocol says its forced to cease operations due to recent events.
  • CEO Zhaojun and his sister have reportedly been detained leaving the team with no operational funds.
  • Multichain saw $125 million stolen on July 6, with blockchain security firm Chainalysis pointing to possible rug pull by insiders.

Multichain, one of the world’s largest cross-chain bridge protocols, has announced its ceasing operations. The news comes just days after the protocol saw an attacker (looked like an inside job) drained $125 million from the protocol’s wallets. 

According to a Chainalysis report, the mysterious withdrawals on July 6 included $120 million from Multichain’s Fantom bridge. The blockchain security firm noted in its report that the “unusually large, unauthorized withdrawals” looked like a rug pull. 

As CoinJournal covered here, an earlier incident with the Multichain protocol had seen the world’s largest crypto exchange Binance halt deposits and withdrawals of Multichain bridged tokens.

Multichain halts operations

Multichain has constantly been in the news over the past few months, particularly since May when it was reported that the CEO Zhaojun had been arrested by Chinese police. 

It was alleged authorities confiscated “computers, phones, hardware wallets, and mnemonic phrases” when they took the CEO into custody. Notably, Zhaojun had control over all of the protocol’s operational funds and investments.

Zhaojun’s sister, who recently transferred remaining user assets to an address under her control, has also been detained. It is this series of events and the “lack of alternative sources of information and corresponding operational funds” that has forced Multichain to cease operations, an announcement posted on the protocol’s Twitter page noted.

“On July 13, according to information provided by Zhaojun’s family, the police took Zhaojun’s sister into custody. Now, Zhaojun’s sister is also out of contact. The status of the assets she has preserved is uncertain, so the team believes it is necessary to inform the community about all the known circumstances. Due to the lack of alternative sources of information and corresponding operational funds, the team is forced to cease operations.”

The price of Multichain (MULTI) was down 4% in the past 24 hours and over 16% in the past week on Friday morning. What happens next to MULTI is uncertain, but it’s likely to plummet further. Recent suspicions of rug pull moves haven’t helped prices.

The post Cross-chain bridge protocol Multichain ceases operations appeared first on CoinJournal.

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Shiba Memu’s presale nears $800k as XRP rallies on court rulling

Key takeaways

  • XRP rallied by more than 70% on Thursday following favourable ruling in Ripple’s legal case against the US Securities and Exchange Commission (SEC).

  • Shiba Memu’s presale nears $800k as more investors enter the market.

The cryptocurrency market has been extremely bullish over the past 24 hours, with the prices of most coins and tokens in the green zone. 

Shiba Memu’s presale has also been performing excellently and is now set to reach the $800k level as more investors enter the market. 

XRP and XLM rally to new highs

XRP, the native coin of the Ripple ecosystem, rallied by more than 70% on Thursday, thanks to a favourable ruling in the ongoing Ripple vs. SEC legal case. 

The U.S. District Court of the Southern District of New York ruled a few hours that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts. 

However, the judge also ruled that the institutional sale of the tokens did violate federal securities laws.

Ripple’s partial victory was welcomed by the cryptocurrency ecosystem, with XRP rallying to a one-year high of $0.84 on Thursday, adding more than 70% to its value in the process. At press time, the price of Ripple stands at $0.7857

XLM, the native coin of the Stellar Lumen ecosystem, also soared by more than 50% following the Ripple announcement. BTC, ETH, Solana, and Polygon also recorded excellent gains over the last 24 hours. 

What is Shiba Memu?

Shiba Memu, although still in its presale stage, is included in the ongoing market rally. Shiba Memu’s presale reached a new level a few hours ago as more investors entered the market.

Shiba Memu is a cryptocurrency token that combines AI and blockchain technology to create an unstoppable, entirely self-sufficient marketing powerhouse.

In their whitepaper, the team explained that Shiba Memu is a project that could do the work of 100 marketing agencies. However, as an AI-based platform, Shiba Memu is also active. 

The platform is always working to find the best work going on in creative advertising, eating it up and spitting it back out, but better.

Shiba Memu is riding on the recent popularity of meme coins, which have become a multi-billion dollar sector within the cryptocurrency industry. Over the last three years, the market cap of meme coins grew from practically $0 to reach the $20 billion mark in 2022. 

However, Shiba Memu differs from the hundreds of other meme coins in the market in that it has utility and will solve real-world problems for users. 

According to their whitepaper, Shiba Memu has self-sufficient marketing capabilities powered by AI technology, making it a unique and attractive investment.

Shiba Memu will develop its own marketing strategies, write its own PR, and promote itself in relevant forums and social networks.

Currently, the project operates on Ethereum and BNB Chain, the two leading DeFi and smart contract blockchains in the cryptocurrency space. 

Shiba Memu’s presale nears $800k

Shiba Memu’s presale investment has more than tripled over the past seven days. Last week, Shiba Memu’s presale investment stood at $215,000, and it currently stands at $798,247.

The surge in investment can be attributed to an increase in investors entering the market and investing in the project. 

The Shiba Memu team said they would use the funds generated from the presale to develop some of their products. Most of the funds would be used to develop Shiba Memu’s AI technology. 

Click here to find out more about Shiba Memu’s presale event.

Should you invest in Shiba Memu today?

The cryptocurrency market has experienced an excellent performance since the start of the year, with the prices of most coins and tokens up by nearly 50% during that period.

However, the market is still down by more than 50% from the all-time high set in 2021. Market analysts are now expecting Bitcoin and other cryptocurrencies to rally in the medium to long term. 

The decision to invest in a token depends on the investor. However, Shiba Memu could be a big winner once the project launches and the token gets listed on cryptocurrency exchanges. 

Shiba Memu will be combining the powers of AI and blockchain technology to ease marketing strategies for companies and organisations. If the project gets the right level of adoption, its SHMU token could rally higher over the next few months and years. 

The post Shiba Memu’s presale nears $800k as XRP rallies on court rulling appeared first on CoinJournal.

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Ripple (XRP) victory, falling inflation are good news for AltSignals (ASI)

  • A New York court dealt a major blow to the Securities and Exchange Commission.

  • The court ruled that XRP was not a financial security, pushing cryptocurrencies higher.

  • AltSignals token sale gained steam, with 52% of stage 2 tokens being sold.

Cryptocurrencies received another dose of good news on Thursday when a judge made her ruling in the SEC vs Ripple case. As a result, the XRP token soared by more than 70% while Bitcoin moved closer to the year-to-date high. Investors also allocated funds to token sales, with the second stage of AltSignals gaining traction.

SEC vs Ripple case

A major concern among investors was about regulations in the US. As you recall, the SEC made several allegations when it filed a major lawsuit against Ripple Labs and its executives. The allegations were that Ripple violated capital raising laws and that the XRP coin was a token. 

On Thursday, the judge overseeing the case delivered a positive result for Ripple. She ruled that Ripple Labs violated some laws and that XRP was not a financial security. That was a major blow to the Securities and Exchange Commission (SEC), which has become highly combative in the recent past. 

The ruling could have major implications for how the SEC regulates digital currencies. Instead of blanket lawsuits, the SEC could now put pressure on lawmakers to come up with regulations specific for the industry. 

Another implication is that financial services companies could add Ripple into their ETF proposals. This is notable since XRP is one of the biggest cryptocurrencies in the world with a market cap of over $43 billion.

Falling US inflation

Another important catalyst for cryptocurrencies, including AltSignals, is that America’s inflation is falling. Data published by the Bureau of Labor Statistics showed that the headline consumer inflation plunged to 3%, the lowest level since March 2021.

If this trend continues, it means that consumer inflation will move to the Fed’s target of 2.0% in the next few months. There is also a possibility that inflation will move below 1% in 2024.

Falling US inflation is a good thing for cryptocurrencies because of its impact on the Federal Reserve. The Fed has been hiking interest rates at a rapid rate in the past few months. Therefore, there is a possibility that the rate hiking cycle is about to end. Cryptocurrencies tend to do well in those market conditions.

AltSignals token sale continues

These two events could lead to a strong rally in the crypto market. Ripple’s XRP surged by more than 70% on Thursday while Stellar jumped by over 40%. At the same time, more investors allocated their funds to AltSignals, which has now raised over $1.17 million in its second stage of the token sale. 

It has sold about 52.3% of all tokens in this stage and the developers will boost the price by 12.05% in the next stage.

AltSignals is a company that hopes to use artificial intelligence to provide accurate predictions in the crypto, futures, and forex market. The ecosystem will be powered by the ASI token.

Unlike many other token sales, AltSignals is already a profitable company with thousands of customers from around the world. Its platform has excellent user reviews, as you can read here. Therefore, the developers hope to boost its performance using AI. You can buy the AltSignals tokens here.

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