Monat: September 2023

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VeChain price: VET outlook after Coinbase listing news

  • VeChain’s VET looks poised as profit taking threatens bulls.
  • VET price rose sharply after Coinbase announced it would list VET and VeThor (VTHO).

VeChain news yesterday was all about the coin’s listing on Coinbase and its potential impact on the price of VeChain’s naive token VET.

While VET, as well as the blockchain ecosystem’s VeThor (VTHO), are battling to keep sellers at bay, the short term outlook suggests a potential flip higher. The sentiment across the broader crypto market could help VeChain price if bulls manage to hold above $0.015.

Coinbase lists VET and VTHO

VeChain rose nearly 10% as the market reacted to news of trading support for the token on major crypto exchange Coinbase. 

The publicly-traded crypto company has over 100 million users and its listing of new tradable assets has often resulted in a spike in the price of the given cryptocurrency. The VeChain team said in a post on X that the listing is a great step towards mass adoption.

Coinbase added VET/USD and VTHO/USD pairs.

As highlighted by market intelligence and data analytics platform Santiment, VeChain’s native asset’s gains were also replicated, albeit more significantly, by VTHO.

VET price hits resistance at key level

With VeChain’s recent development milestones – particularly on key partnerships for interoperability, healthcare, supply chain management and environmental sustainability – it appears bulls have what could be crucial in terms of pushing prices higher.

Vechain price chart. Source: TradingView

As such, the intraday high of $0.0168 could be critical as it is an area where bears dominated when prices fell in June and in mid-August. 

In June, VET/USD bounced 50% from around $0.014 to $0.021. What this suggests is that a bullish flip has the potential to return VeChain’s price to the $0.02 area, a scenario likely given the MACD and daily RSI.

On the flipside, profit-taking at current prices coupled with fresh declines for the mega caps could trigger further losses for VET. The key price levels to watch in this case would be $0.014 and $0.013.

The post VeChain price: VET outlook after Coinbase listing news appeared first on CoinJournal.

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Axie Infinity’s AXS price spikes as unique wallets soar: is it a buy?

  • Axie Infinity’s token jumped as the number of unique wallets jumped.

  • The UAW rose by more than 77% to 24.3k in the past 24 hours. 

  • They are still down by over 11% in the past 30 days.

Axie Infinity (AXS) price popped on Thursday and then pulled back. It jumped to a high of $5.13 and retreated to a low of $4.61. In all, the coin has dropped by more than 96% from the highest level on record.

Axie Infinity users falling

Axie Infinity is one of the biggest players in the blockchain gaming industry in the world. The developers created a platform where people can play games and then win rewards through the Smooth Love Potion (SLP) coin.

At its peak, Axie Infinity had hundreds of thousands of users who played for both fun and money. Recently, however, the platform has lost thousands of users as demand for these games wane.

Data by DappRadar shows that the number of Unique Active Wallets (UAW) in Axie Infinity dropped by more than 10% in the past 30 days to 76.6k. The volume of incoming funds in its smart contract dropped by 34% to over $22.36 million. As a result, the balance left in the network stans at over $550 million.

Axie Infinity’s user metrics are much higher than those of other popular platforms like Decentraland and The Sandbox, These platforms have less than 4,000 unique users every month. 

It is unclear why Axie Infinity price jumped on Thursday. A likely reason is that the coin jumped in sync with other digital currencies. Bitcoin has risen above $26,700 while Ethereum has moved to $1,635. In all, the total market cap of all cryptocurrencies jumped to over $1.06 trillion.

In most cases, altcoins like Axie Infiny tend to rise when Bitcoin is doing well. Therefore, since there is no major news driving the token, there is a likelihood that it will resume the bearish trend in the near term.

Another likely reason is that the UAW jumped by 77% in the past 24 hours to 24.3k. Transactions in the same period rose by 84% to 49k.

Axie Infinity price forecast

The daily chart shows that the AXS token price has been in a strong bearish trend in the past few months. It has remained below the descending red trendline that connects the highest swings since February. The coin is below the 50-day moving average and has retested the key resistance at $4.62. 

Therefore, Axie Infinity price will likely resume the bearish trend as bears target the key support level at $4. 

How to buy AXS

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The post Axie Infinity’s AXS price spikes as unique wallets soar: is it a buy? appeared first on CoinJournal.

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Sui Network introduces Google, Twitch and Facebook logins for DApps

Key takeaways

  • The Sui Network has launched Google, Twitch and Facebook logins for decentralised applications.

  • The zkLogin feature allows users to benefit from the privacy and ownership-preserving features of dApps.

Sui Network launches zkLogin feature for dApps

Layer-one blockchain Sui Network announced in a press release on Wednesday that it has launched a new feature that allows users to sign up for Sui-powered apps without having to manage an external crypto wallet or seed phrase. 

The zkLogin feature allows users to log into decentralised applications (dApps) by using their Google, Facebook, and Twitch login details. 

The company pointed out that the feature enables users to join the Sui ecosystem without having to install a wallet or manage seed phrases. This means that developers can offer users the option to authenticate with their favourite dApps using their existing accounts with Google, Facebook, Twitch, and other third-party providers

Sui Network said it plans to integrate with Microsoft, Apple, WeChat and Amazon in the future.

zkLogin provides privacy for users

While commenting on this latest cryptocurrency news, Greg Siourounis, Managing Director of the Sui Foundation, stated that;

“By enabling users to access dApps with the social logins they have grown comfortable using, zkLogin removes a major hurdle for bringing the benefits of blockchain-based applications to billions of mainstream users. I am looking forward to seeing what the talented builders and developers in the Sui community will create using this new network capability.”

According to the team, the feature ensures that users will still benefit from the distinct privacy and ownership which are offered by dApps. 

zkLogin could also make it easier for more decentralised applications to onboard users to their platforms. Adeniyi Abiodun, Co-Founder and CPO of Mysten Labs, believes that Sui Network has taken a giant step in addressing a major frustration for Web3 users. He stated that

“Too many individuals – whose everyday lives would benefit from blockchain technologies – are irretrievably lost at our doorstep, frustrated at installing web3 wallets and managing seed phrases. zkLogin on Sui applies a login pattern that is well-known, simple and effective in this new arena. This technology, now on Sui, is the biggest opportunity so far to remove these barriers and onboard a billion new users to the next generation of connected experiences.”

The Sui Foundation has been building in recent months despite the ongoing bear market. In June, the Foundation partnered with Formula One’s Oracle Red Bull Racing team. The partnership made Sui the blockchain partner of the Oracle Red Bull Racing team.

The post Sui Network introduces Google, Twitch and Facebook logins for DApps appeared first on CoinJournal.

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Bitcoin could head to $27k as Chancer’s presale nears $2M

Key takeaways

  • Bitcoin has settled above the $26k level and could be heading towards the $27k resistance level soon.

  • Chancer’s stage two presale is now closing in on the $2 million mark.

The cryptocurrency market is having a positive week so far. The prices of most cryptocurrencies are up by 2% since the start of the week and could record further gains in the near term.

Chancer’s presale continues to break new records and is now closing in on the $2 million mark.

Bitcoin eyes the $27k resistance level

Bitcoin, the world’s largest cryptocurrency by market cap, is having a positive week so far. BTC has added more than 2% to its value over the past few days. At press time, the price of Bitcoin stands at $26,283.

The positive performance comes despite FTX gaining approval to sell its crypto assets and the rising inflation levels in the United States. Bitcoin’s positive performance also saw some altcoins like Solana and Toncoin rally higher over the past few days. 

What is Chancer?

The broader crypto market has performed well so far this week, and this has been reflected in some projects still in their presale. Chancer is one of the projects that is breaking records with its presale.

Chancer is a Web3 project designed to decentralise the betting ecosystem. The project seeks to build a web3 peer-to-peer (P2P) custom betting platform that allows users to place bets on a wide range of events, including custom-made ones. According to their whitepaper, bets on the platform can be live-streamed to ensure transparency. 

The team explained that Chancer will be a decentralised online gaming platform and will improve the current services offered by traditional sports and casino betting platforms. On Chancer, there would be no restrictions on events users can bet on. Chancer users can bet on any event, even ones they make up themselves. 

The project is currently in its presale and has raised a significant amount so far. The funds generated from the various presale rounds would be used in building Chancer’s decentralised P2P betting platform. 

The platform is expected to have exciting features, including betting markets in real time and based on user interests, social media connections, and expertise. In addition to that, Chancer users can launch custom P2P betting markets, allowing other users to bet on their events and games. 

Chancer’s second presale closes in on $2 million

Chancer seeks to raise $2.5 million from its second presale stage. At the moment, the project has raised $1.951 million in this stage and is slowly closing in on the $2 million mark. 

According to the Chancer team, there would be 12 presale events, with a combined target of $15 million. In this second stage, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the third presale round.

The CHANCER token would power the Chancer ecosystem, allowing users to carry out a wide range of activities. Token holders can create custom P2P betting events on the platform and can also bet on markets created by others. 

At the moment, CHANCER is not available on cryptocurrency exchanges. The token can be purchased via the official Chancer website. To purchase the CHANCER token, simply connect any supported wallets to the presale link. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

Visit the Chancer website to get more information about the presale. 

Should you buy CHANCER tokens at this stage?

Chancer is in its stage two presale, and this could be an excellent time to invest in the project. The token is going for $0.011, and its price would increase to $0.012 in the third presale stage.

Historically, the best time to invest in Web3 projects is during their presale. During the presale stage, the tokens can only be purchased by a limited number of investors, and their prices are usually low. 

With the right level of adoption, Chancer could become an exciting Web project. Decentralising the betting ecosystem could be a big win for the Chancer team in the medium to long term. 

The post Bitcoin could head to $27k as Chancer’s presale nears $2M appeared first on CoinJournal.