Autor: dot-traders

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Should you buy Origin Protocol as it maintains above the oversold bottom?

  • Origin Protocol aims to enhance NFT and DeFi adoption

  • Origin Protocol’s OGN token hit an all-time high of $3.45 in March 2021

  • The token is currently consolidating and has met resistance

As non-fungible tokens gained momentum in 2021, Origin protocol (OGN/USD) was expected to grow. Its native token was trading at a mere $0.13 at the start of 2021, rising to a high of $3.45 the same year. At the current trading of $0.25, OGN is a shadow of itself from last year’s highs. Continued bearish weakness in crypto is contributing to the downside.

Origin Protocol is a blockchain platform that seeks to enhance mainstream adoption of NFTs and DeFi. The protocol was founded in 2017 with the objective of enabling commerce on blockchains. OGN is the governance and utility token powering the Origin Protocol. The digital asset allows holders to vote on proposals governing the underlying protocol. The number of circulating OGN tokens is 388,570,732.54 from a total supply of 1,000,000,000 and an equivalent hard cap. We believe investors should monitor OGN based on key technical aspects.

OGN consolidates close to an oversold bottom

Source: Tradingview

Technically, OGN is trading at a $0.26 resistance level. The token entered the oversold zone when it hit the $0.19 support level, with an RSI reading of 24. The RSI is currently at 51, showing that the token is escaping the oversold bottom. However, it has hit the resistance zone.

From the above technical perspective, OGN remains an ideal investment in the short term. We are yet to find a lasting bullish momentum as the token remains in consolidation mode. The broader cryptocurrency market remains largely bearish, and the OGN could remain subdued. An ideal buy entry on OGN is on a retracement to the $0.19 support level or a break above the $0.26 resistance. In the meantime, investors can capitalize on the short-term opportunities within the consolidation zone.

Summary 

Origin Protocol holds a place in the NFT and DeFi space. Its native token is yet to recover after a crypto crash. Investors can take advantage of short-term opportunities as the token consolidates below the $0.19 resistance.

The post Should you buy Origin Protocol as it maintains above the oversold bottom? appeared first on CoinJournal.

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Top 3 small-cap crypto to trade this weekend: ARPA, YFI, NAV

Cryptocurrencies are doing well into the weekend. Bitcoin has surged to $21,000 while Ethereum has moved above $1,200. In total, the top market cap of all cryptocurrencies has jumped to over $948 billion. This performance is mostly because of the strength of American equities, with the Dow Jones and Nasdaq 100 rising by more than 711 and 302 points respectively. Here are the best small-cap cryptocurrencies to trade during the weekend.

ARPA (ARPA)

ARPA is one of the best crypto trade during the weekend. It is an extremely small cap coin that has a market cap of $40 million. ARPA is a security-focused blockchain project that is used in industries like fintech and insurance, digital advertising, personal data wallet, and AI among other industries. 

Some of its funders are well-known companies like Arrington, Connect Capital, Genesis, and GBIC among others. ARPA is a layer 2 or sidechain network that supports secure and verifiable computation. Some of the top projects built using ARPA are LINA, MDX, CERE, and CHESS among others.

ARPA is a good crypto to trade because of its price action. The ARPA price formed a strong bottom at $0.025 this week. It has then soared by as much as 123% and reached a high of $0.055. Therefore, there is a possibility that the coin will show more price action during the weekend.

Yearn Finance (YFI)

Yearn Finance is a leading blockchain project in the DeFi industry. It is a DeFi project that allows people to maximize their returns in the market. After depositing tokens, Yearn moves the funds across multiple protocols as it seeks for the highest yield. According to DeFi Llama, Yearn Finance has over $578 million in total value locked (TVL). This is significantly lower than its all-time high of over $5.7 billion. 

Like YFII, the YFI price has surged in the past few days. It has risen by more than 84% from its lowest level this year. This means that it will have some volatility during the weekend, which makes it a good coin to trade.

Navcoin (NAV)

Navcoin is an extremely small-cap cryptocurrency that has a market cap of over $8.6 million. It is a cryptocurrency that was established in 2014 with the goal of enhancing privacy. It is an interoperable coin that can be used outside its ecosystem. 

The Navcoin price has surged in the past few days as investors cheer the launch of a new market-making DAO, The goal is to introduce new professional market-makers to the network in order to get the coin listed in other exchanges. Therefore, the Navcoin price is a good buy because of the expected volatility.

The post Top 3 small-cap crypto to trade this weekend: ARPA, YFI, NAV appeared first on CoinJournal.

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YFII Price Prediction: What is DFI Money and Why is It Surging?

The YFII price has rebounded sharply in the past few days as investors buy the coin’s dip. The token is trading at $1,674, which is about 400% above the lowest level during the weekend. This price is still about 85% below its highest point on record. According to CoinGecko, DFI has a market cap of over $42 million.

What is DFI.money and why is it rising?

DFI is a blockchain project that is in the Decentralized Finance (DeFi) space. It is a leading platform that simply allows people to deposit their funds and then they can earn interest. It is a fork of Yearn Finance, one of the biggest blockchains in the world. 

The concept behind DFI.Money is that it aggregates various protocols like Compound, dYdx, Aave, and DDEX protocols and finds the one with the highest interest. Therefore, as an investor, you will simply add funds to the network, and then it will farm around and find the one with the highest yield.

After finding that asset, it then returns a proof-of-stake known as yToken, which users can send back at any time and withdraw their tokens and interest. YFII is the governance token for the DFI network.

Like other DeFi tokens, DFI.money has had a difficult period in the past few months as investors worry about the state of the industry. As a result, the total value locked in the industry has fallen from more than $250 billion to less than $75 billion. According to DeFi Llama, DFI has a total value locked of less than $100k, making it a relatively tiny platform.

It is unclear why the YFII price is surging. Since there is no new news about the coin, there is a possibility that investors are pumping the coin.

YFII price prediction

The four-hour chart shows that the YFII price went parabolic on Friday. As it rose, the coin managed to move above the important resistance level at $1,470, which was the highest point on May 14th. It has moved above all moving averages while the Relative Strength Index (RSI) has jumped to the overbought level.

Therefore, in my view, I believe that the coin will retreat soon. If this happens, the next key support level to watch is at $660, which was the highest point on June 16th.

The post YFII Price Prediction: What is DFI Money and Why is It Surging? appeared first on CoinJournal.

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Solana price recap: UniLayer CEO says SOL is attracting investor attention

Solana price rose to an intraday high above $41.00 on Friday as the crypto market registered some gains following a brutal start to the week.

The digital asset, which is ranked 9th among the largest cryptocurrencies with a market cap of $13.6 billion, surged from lows of $36.65 to hit $41.04 according to data from CoinGecko..

The cryptocurrency has experienced a bullish move over the week, with SOL/USD having traded at around $27.64 on 19 June.

Solana price jumps on Saga phone news

On Thursday June 23, Solana Labs, the platform behind the development of the Solana ecosystem, released a major reveal that coincided with SOL price going up.

The hot news concerned the launch of Saga, a flagship crypto-focused smartphone designed to help drive Web3 adoption, including the use of NFTs.

The news was a boost not just to Solana, but the wider crypto ecosystem, Alex Belets, the CEO of UniLayer Network, a L1 blockchain and interoperability platform, told CoinJournal.

Solana is attracting investors

While the current market conditions do not offer so much to smile about, Belets says Solana could be having a different story building up.

“It’s difficult to be bullish about any token in the current market, but Solana does continue to attract investor attention,” he added.

Positive news this definitely is for an industry that has seen so many negative headlines. However, Solana still has a big challenge that it must address – how to handle massive traffic that often ends with the network outages.

So while investors continue to bet big on the platform, Belets says one interesting thing to watch out for is “how developers tackle this critical issue in the face of a smartphone launch“

SOL/USD is nearly 10% up on the day at $40.12 (as of writing), while the upside has Solana trading more than 32% higher since its weekly low.

SOL trading volumes have also jumped, with 24-hour trading volume up by more than 13.6%. The market cap has increased by over 8% in the same period.

The post Solana price recap: UniLayer CEO says SOL is attracting investor attention appeared first on CoinJournal.