Monat: Februar 2024

• Polygon (MATIC) rebranding to POL could be a bullish catalyst.
• Frax (FXS) is launching its layer-2 blockchain, potentially buoying price outlook.
• Memeinator (MMTR) presale has reached stage 15 as meme coin looks to dominate market upon launch.

The past week saw cryptocurrencies surge as Bitcoin broke above $48,000. While BTC price has retreated below the above level, investors keen on potential bull momentum in coming months are likely to use the dip to buy more.

Top altcoins such as Ethereum, Solana and XRP are worth a look at. However, a few tokens could stand out amid key news events and developments. Here’s why Polygon (MATIC) and Frax Finance (FXS) and Memeinator (MMTR) could be two of the tokens to watch in coming weeks.

Polygon (MATIC): Rebrand could be bullish

Polygon’s MATIC is one of the top altcoins to retreat on Monday as Bitcoin pared gains from the weekend. The cryptocurrency was down about 3% as the broader crypto market mirrored US futures ahead of this week’s economic data releases.

MATIC however remains more than 5% up this past week and in position to retest the $1 level. According to crypto analyst The DeFi Investor, Polygon is one of the projects to watch in coming weeks due to the upcoming MATIC to POL rebrand. 

Per the analyst, the rebrand could happen this month and such events have “generally [been] bullish if done right.”

Frax Finance (FRX): L2 launch is a key milestone

On February 7, 2024, the Frax Finance team announced access to the testnet and mainnet of its modular blockchain Fraxtal. Immediate access was available for select partners, while it is set to go live for normal users in coming days.  

Fraxtal has incentives lined up for users, including an airdrop, liquidity rewards, and new FXTL points. These are earmarked for later this month, with the platform’s partners and developer teams using the interim time to bring their dApps to the blockchain. Staking of FXS is also open.

FXS price reached highs of $42.80 in January 2022. The current price is 79% down from that peak. If the Frax L2 blockchain public launch adds to overall market catalysts for FXS, its likely to be one of the tokens to watch in coming months.

Memeinator (MMTR): The meme coin to challenge DOGE?

Memeinator is a new crypto token in presale. The MMTR token is a meme coin that will be the utility token of the Memeinator ecosystem.

When it launches, Memeinator’s main goal will be to establish itself as a top meme coin project that challenges and possibly overtakes Shiba Inu and Dogecoin. Part of that mission comes with a hostile takeover of all useless meme coins that offer nothing to the community.

These subpar tokens are mere copycats that have often left holders with worthless bags. Inspired by the Terminator, the Memeinator has come with the Meme Warfare – ready to render judgement to weak meme tokens.

The project has already shown its traction with the massive presale participation, surge in social media followers and perhaps most importantly, the launch of its staking pool and token burn. The target is to reach a $1 billion market cap, and that means a potentially significant surge in post-launch price.

Currently in stage 15, the Memeinator has raised more than $4.2 million, with MMTR price rising to $0.022. Details on the Memeinator presale page shows the next price level will be $0.023, and the value will continue to rise through stage 20 of the presale.

The post 3 altcoins to watch this week: Polygon, Frax and Memeinator appeared first on CoinJournal.

• ERC-404 tokens have plummeted, with PANDORA and DEFROGS seeing huge declines in the past 24 hours.
• Pullix (PLX) is getting closer to its hybrid exchange launch and the PLX presale has surpassed $5.3 million.

While crypto markets heat up amid recent gains, the ERC-404 token ecosystem has experienced a significant decline. In the past 24 hours, PANDORA, DEFROGS and RUG have all seen double-digit losses. Meanwhile, and away from the experimental token standard on Ethereum, new platform Pullix (PLX) is edging closer to its launch.

PANDORA leads ERC-404 slump

As noted above, ERC-404 is the experimental token standard on the Ethereum blockchain aimed at enabling more liquidity and fractionalization by bridging fungible tokens and non-fungible tokens (NFTs).

On Monday, data from CoinGecko showed that tokens in this category – Pandora, DeFrogs, Rug and Crystal – had all plummeted more than 20% in 24 hours. PANDORA was down 30%, DEFROGS 33%, RUG 28% and CRYSTAL 23%. The sector market cap was down 37% to $152 million.

Last week, PANDORA price surged past $32k. However, it has pared more than 50% of that in the past three days. The declines came as the sector, more like NFTs during the last bull market 2021, drove Ethereum gas fees to eight-month highs. Per on-chain data, ETH gas fees averaged about $60 per transaction as the market rose.

It should be noted that ERC-404 is not an official Ethereum token standard.

Pullix (PLX): The new hybrid exchange

Pullix (PLX) is a hybrid exchange whose design could be the perfect fit for traders in the DeFi industry. The platform is in presale, but when it launches, will offer access to a trading environment that boasts of the best of CEXs and DEXs.

The exchange’s native utility token is PLX.

Traders will access all asset types, including commodities, forex and crypto – all without the problem of liquidity. While users will access non-custodial trading, and tap into institutional-level liquidity, the platform’s innovative profit sharing model stands out as one tailored for the trader. The revenue-sharing mechanism will offer an extra passive income opportunity to PLX holders.

Other features such as DeFi swap, copy trading, yield farming, and staking put PLX right at the top of tokens with a greater incentive outlook for holders than most other exchange tokens.

Pullix token set to jump 40%

Ahead of its launch, Pullix has raised more than $5.3 million from early adopters. The presale has reached stage 7, and will soon hit the final stage 8 with price jumping from $0.1 to $0.14. This indicates a potential 40% return for participants who join the current stage.

Having seen PLX price during the presale rise from $0.04, market analysts are predicting the exchange’s launch could see its native token stand out as the next 100x gem.

To learn more about Pullix, visit its website or join the presale.

The post Pullix (PLX) solid as ERC-404 tokens Pandora, DeFrogs plummet appeared first on CoinJournal.

• The S&P 500 rose to a record 5,000 amid a five-week winning streak buoyed by surging shares of Nvidia and other AI stocks.
• AltSignals’ AI stack ActualizeAI is poised to change the trade landscape.
• ASI token recently listed on Uniswap after a successful presale.

As the S&P 500 logged another winning week to close above 5,000 for the first time ever, buoyed by an explosive showing by artificial intelligence (AI)-related stocks.

In the cryptocurrency space, Bitcoin moved to near $49k as it notched positive moves to suggest the coming months could be huge for investors. Do these developments make AltSignals (ASI) one of the altcoins to watch?

S&P 500 surges to historic 5,000 amid AI boost

On Friday, the benchmark equity index S&P 500 closed higher once more as weekly gains hit five consecutive weeks. The surge to the $5,000 mark was the first time the S&P 500 had hit these levels, and analysts have noted that a lot of the momentum has come from AI-related stocks.

Among top performers are the shares of Nvidia, which has surged nearly 50% year-to-date. Palantir, AMD have also soared, as has Microsoft.

The tech giant’s recent Super Bowl ad highlighted its AI-powered chatbot Copilot, with recent events suggesting the company sees artificial intelligence as a promising sector. This is the outlook for most of the companies to pivot strongly towards AI in recent months.

In crypto, projects looking to tap into AI are also seeing decent market traction. With blockchain at the heart of these projects, the adoption of AI-powered mechanisms and infrastructure is helping bring new capacity to users. 

Analysts say a boom in stocks amid growing adoption of artificial intelligence bodes well for crypto.

AltSignals takes aim at AI crypto trading

AltSignals is a trading platform that continues to see remarkable transformation and adoption, having launched in 2017. The target remains providing access to trading signals.

However, it’s revamping the proprietary algorithm AltAlgo with an AI layer. It’s ActualizeAI that’s the key to AltSignals’ potential market dominance.

When successfully integrated, ActualizeAI, the new AI layer, AltSignals will completely overhaul the way traders access and leverage trading signals for crypto, forex and stocks among other markets.

With its AltAlgo platform, AltSignals has achieved a consistent accuracy average of 64%. With ActualizeAI, the average accuracy level for signals will be 80%.  This shift comes into effect via a suite of AI-powered inputs, which will leverage machine learning, natural language processing and predictive modelling among other features to bolster signals.

ActualizeAI: powered by the ASI token

ASI is the utility token that powers the ActualizeAI ecosystem. The total supply is 500 million tokens, 58% of which were available during the presale.

The token was recently listed on Uniswap after a successful presale that raised $1.8 million. With investor attention rising and future developments adding to the token utility and outlook, buying ASI now may be a great move for investors eyeing the AI narrative.

As a crypto related project, AltSignals could benefit not just from the momentum across AI stocks, but cryptocurrencies as well. In particular, Bitcoin price is likely to smash past $50k ahead of its halving and a broader crypto market uplift could catapult ASI higher. 

Get more details about this project on its website.

The post AI boom helps S&P 500 to record; just the beginning for AltSignals? appeared first on CoinJournal.