Autor: dot-traders

Veröffentlicht am

Solana jumps by 7% to surpass the $11 resistance mark: Should you buy?

  • Solana is the best performer amongst the top 20 cryptocurrencies by market cap today.

  • SOL is trading above $10 again after rallying more than 7% in the last 24 hours.

  • The total cryptocurrency market cap remains above $800 billion.

SOL soars past the $10 resistance level

SOL, the native token of the Solana ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap today. The coin has added more than 7% to its value, allowing it to surpass a crucial resistance level. 

At press time, the price of Solana stands at $11.89, up by more than 7% in the last 24 hours. There is no catalyst behind SOL’s ongoing positive performance.

The broader crypto market is trading in the green zone, but several of the leading coins and tokens are recording losses. The total crypto market cap stands at $808 billion, up by less than 1% today.

Bitcoin, the world’s leading cryptocurrency by market cap, is trading in the red zone. It has lost less than 1% today, and the price of Bitcoin currently stands at $16.735. 

Key levels to watch

The SOL/USD 4-hour chart has turned bullish, as Solana has been performing well over the last few days. The technical indicators show that Solana has been outperforming the broader market since the start of the week.

SOL/USD Chart By TradingView

 

The MACD line crossed into the positive zone earlier this week, indicating that the bulls are now in control of the Solana market. With the support of the broader market, the line could enter deeper into the positive region.

The 14-day RSI of 76 shows that SOL could be heading into the overbought region if the rally continues.

If the bulls remain in charge, SOL could surge past the first major resistance level at $13.09 before the end of the day. However, unless SOL gains support from the broader crypto market, it would find it hard to move past the second major resistance level at $14.90 in the near term.

Where to buy Solana now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy SOL with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy SOL with OKX today

The post Solana jumps by 7% to surpass the $11 resistance mark: Should you buy? appeared first on CoinJournal.

Veröffentlicht am

Kava price has staged a comeback but risks remain

  • Kava price has crashed by more than 94% from its all-time high.

  • The total value locked (TVL) in its DeFi ecosystem has crashed to $197M.

KAVA price has been in a strong bearish trend in the past few months as demand for the token eased. The token crashed to a low of $0.5165 on Tuesday, which was about 94% from its highest level in September 2021. Its market cap has crashed to about $224 million, which was lower than its all-time high of more than $1 billion.

Kava total value locked has crashed

Kava is a blockchain project that is relatively unique from other popular platforms like Cardano and Aptos. It is a dual platform that combines features found in Ethereum and Cosmos. Ethereum, the biggest smart contract project in the world, is known for its stability and power. Cosmos, on the other hand, is significantly faster and has additional features than other blockchains.

Kava has seen remarkable developer interest in the past few months. This interest is partly because of its $750 million developer incentive fund. People who deploy on Kava receive developer incentives worth millions of dollars. 

Kava has over 100 projects, mostly in the DeFi industry. Recently, however, activity in the network has been in a downward trend. The total value locked (TVL) in its ecosystem has plunged to about $197 million from its all-time high of almost $700 million. 

Most applications in its ecosystem have lost money in the past few months. Some of the most dominant players in its ecosystem are Kava Mint, Kava Lend, Kava Earn, Kava Liquid, Kava Swap, and Kava Boost have struggled to attract inflows. Kava Mint, which has a TVL of over $84 million and a market dominance of 43%. The most recent high-profile platform in its ecosystem was Curve. 

It is unclear why KAVA price has risen by more than 12% on Tuesday. A possible reason is that the developers are about to make a major announcement on the ecosystem.

Kava price prediction

KAVA chart by TradingView

The daily chart shows that Kava price has been in a strong bearish trend in the past few months. As it crashed, the coin managed to move below the important support level at $0.80, which was the lowest level on November 9. It has also moved below the 25-day and 50-day moving averages while the MACD remains below the neutral point. 

Therefore, the downward trend will likely continue falling as sellers target the next key support level at $0.500. A move above the resistance point at $0.70 will invalidate the bearish view.

How to buy Kava

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy KAVA with Binance today

Wazirx

WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.

Buy KAVA with Wazirx today

The post Kava price has staged a comeback but risks remain appeared first on CoinJournal.

Veröffentlicht am

Jasmy price prediction as Japan’s Bitcoin surges

  • Jasmy price has jumped in the past four days.

  • It has jumped by more than 40% from the lowest point in 2022.

Jasmy price has had one of the best performances in 2022 as investors bought the dip in Japan’s Bitcoin. It has risen in the past five straight days and moved to the highest level since December 11. These gains represent about a 40% increase from the lowest level in 2022, giving it a market cap of over $100 million. 

Why is Jasmy soaring?

Jasmy is a relatively small blockchain project that has become popular in Japan. The platform was started by a team of former executives at Sony, one of the leading entertainment companies in the world. The platform was created to provide decentralized data storage solutions to companies and individuals. 

The creators recognized the importance that data plays in the world today. Indeed, we have seen multi-billion dollar companies like Google and Meta Platforms that make money from selling data to advertisers. Data privacy has also become an important part of the word debate today. 

Jasmy plays an important part in the democratization of data by combining blockchain and Internet of Things to provide an infrastructure that allows anyone to use data safely and securely. Users can store and control their data, manage and control devices, and provide a safe place to use data in a secure manner. 

Jasmy’s platform is made possible by a number of popular technologies. Some of the top components of its technology are the Personal Data Locker, which enables data storage within a peer-to-peer network. It also has a secure knowledge communicator which allows data democratization and smart guardian that allows the registration of devices. 

It is unclear why Jasmy coin price has done well in the past few days. A likely reason is that the developers are about to make a major announcement such as a partnership with a major company. There is speculation that the network will soon partner with Sony. 

Jasmy price prediction 

JASMY chart by TradingView

The daily chart shows that Jasmy price has been in a strong bullish trend in the past few days. It has risen in the past fou straight days and managed to move above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has moved slightly below the overbought level. 

Therefore, as I wrote elsewhere, I suspect that Jasmy will retreat in the coming days as the short squeeze fades. Also, it will decline as some of the current buyers move into a distribution phase. If this happens, the next key level to watch will be at $0.0032.

How to buy Jasmy

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy JASMY with Coinbase today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy JASMY with KuCoin today

The post Jasmy price prediction as Japan’s Bitcoin surges appeared first on CoinJournal.

Veröffentlicht am

Gemini’s Winklevoss calls out DCG over “bad faith stall tactics”

  • Cameron Winklevoss has slammed DCG CEO Silbert for ‘Bad Faith Stall Tactics.’

  • DCG-owned Genesis currently owes users of crypto exchange Gemini’s Earn product some $900 million.

  • DCG CEO Silbert has denied the accusations. 

Winkelvoss slams Silbert over bad-faith stall tactics 

Cameron Winklevoss, the co-founder of the Gemini crypto exchange, penned an open letter over funds reportedly owed to Gemini Earn customers.

The letter comes after brokerage platform Genesis halted customer withdrawals in November amid the downfall of FTX. Genesis is owned by Digital Currency Group (DCG).

Following the halting of withdrawals, Genesis owes users of crypto exchange Gemini’s Earn product some $900 million. 

Cameron Winklevoss has now called out DCG’s CEO Barry Silbert over what he regards as “bad faith stall tactics.”

Winklevoss stated that DCG and Silbert are deploying evasive tactics in the ongoing saga. The Gemini co-founder wrote that the cryptocurrency exchange has repeatedly tried to find a consensual resolution to the dispute with Genesis and DCG over returning funds to its users. However, Winklevoss claims that Silbert and his companies are not handling the matter with urgency. He wrote that;

“We appreciate that there are startup costs to any restructuring, and at times things don’t go as fast as we would all like. However, it is now becoming clear that you have been engaging in bad faith stall tactics.”

Winklevoss added that Silbert has so far declined to enter into a room with Gemini executives to resolve things. Silbert has also refused to agree to a timeline with key milestones, Winklevoss added. He stated that;

“After six weeks, your behavior is not only completely unacceptable, it is unconscionable. The idea in your head that you can quietly hide in your ivory tower and that this will all just magically go away, or that this is someone else’s problem, is pure fantasy.”

DCG owes Genesis over $1.6 billion

Cameron Winklevoss revealed that DCG owes Genesis $1.675 billion, citing various figures that Silbert shared with investors two months ago. 

There is a $575 million loan due in May 2023 and another $1.1 billion promissory note due in June 2032. 

While responding to this latest cryptocurrency news, Barry Silbert refuted the claims that DCG owes Genesis over $1.6 billion. He added that DCG recently sent a proposal to Genesis and Gemini regarding the issue. Silbert said;

“DCG did not borrow $1.675 billion from Genesis. DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023. DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response.”

Winklevoss proceeded to urge Silbert to publicly commit to solving the crisis on or before January 8. However, Silbert is yet to reply to this request. 

The post Gemini’s Winklevoss calls out DCG over “bad faith stall tactics” appeared first on CoinJournal.