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Render Token (RNDR) plunges by 15% in 24 hours despite outperforming the entire crypto market this week

Render Token (RNDR) has been a star performer in crypto over the last week or so. In fact, the coin has been outperforming the market, surging above most coins that appear to be recovering slowly from the January slump. But the coin saw immense selling pressure today, tanking by nearly 15%. Here are some highlights:

  • At press time, Render Token (RNDR) was trading at $3.27, down by 15% in the last 24 hours.

  • Despite the intraday plunge, RNDR is still 32% up over the last 7 days, indicating just how strong the recent uptrend has been.

  • The coin has in fact surged by over 70% compared to the lows of $1.8 recorded barely a week ago.

Data Source: Tradingview

Render Token (RNDR) – Can the uptrend hold?

Many analysts have a positive outlook on Render Token (RNDR). Based on the price action over the last week, there is no doubt the coin is on a bullish uptrend. The 15% 24-hour plunge could be a much-expected pullback. It does not change the overall outlook and as such, we expect Render Token (RNDR) to continue outperforming the market in the coming days. 

The key will be to watch if there is additional bear pressure in the coming days. Although it is unlikely, if the price retreats towards the $2.89 support zone, we may start to see RNDR lose momentum.

Should you buy Render Token (RNDR)

Render Token (RNDR) is billed as a distributed GPU rendering network designed to offer GPU computing power. The project is built on Ethereum and started operating in 2017. 

There are of course other blockchain projects that aim to offer decentralised computing resources. But Render Token (RNDR) targets the design industry and as such, it can realistically build a strong niche in this area. It is simply a decent asset to hold in the long run.

The post Render Token (RNDR) plunges by 15% in 24 hours despite outperforming the entire crypto market this week appeared first on Coin Journal.

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Tezos (XTZ) Continues to surge upwards as the chain announces a new sponsorship deal with Manchester United

Tezos (XTZ) is starting to put the choppy days of January well behind it. The coin has been surging over the last seven days despite a somewhat slowed recovery in the broader market. Tezos (XTZ) also announced today that it is signing a new sponsorship deal with Manchester United. Here are some highlights:

At the time of writing, Tezos (XTZ) was trading at around $3.87, up about 6% over the last 24 hours alone.

The coin has also surged in the past week, gaining a whopping 32% in the process.

The new sponsorship deal with Manchester United is reported to be worth £ 20 million a year

Data Source: Tradingview

Tezos (XTZ) – price prediction and outlook

Most coins did not have a good January and a fresh new month of course brings fresh optimism. Well, it seems like Tezos (XTZ) is really taking advantage of improved sentiment in the market. 

The token has been on a massive bullish uptrend over the last 7 days gaining nearly 32%. Tezos (XTZ) is also seeing decent gains in intraday trading. The coin is up around 4%. 

We have also seen an uptick of the trading volume. It’s unclear if the Manchester United deal had anything to do with this. But it is highly unlikely since the news just broke a few hours ago.

Long term outlook for Tezos (XTZ)

As a major smart contracts platform designed to offer an alternative to Ethereum, Tezos (XTZ) has worked quite hard to build its ecosystem. The chain has also created advanced and reliable blockchain infrastructure as it looks to evolve into an efficient and dependable project. 

It is by far one of the most exciting tokens out there. Besides, the sponsorship deal with Manchester United is an indication that the platform is sparing no effort in expanding its reach. So, based on these fundamentals, Tezos (XTZ) will continue to grow in the long term.

The post Tezos (XTZ) Continues to surge upwards as the chain announces a new sponsorship deal with Manchester United appeared first on Coin Journal.

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Best new coins to buy in February that could grow 100x this year

The thing with crypto is that fortunes can be made overnight. We saw it last year and we will see it again in 2022. The key is to however get in on these exciting projects as early as you can. That way, you get to ride the upward momentum as you smile all the way to the bank. Here is a criterion for picking promising projects:

  • Always make sure that the coin is backed by very decent fundamentals and not just hot air and hype.

  • Preferably, get coins that are yet to be listed in some of the leading exchanges in the world.

  • Finally, follow the buzz and excitement around those projects to see if they are genuine or not.

Well, after a sad January for crypto investors, there is some hope. Here are two hot projects to buy in February.

Synthetix (SNX)

Synthetix (SNX) is an Ethereum based DeFi protocol designed to offer automated banking features. The platform utilizes smart contracts. However, what makes Synthetix (SNX) such a superb project is that it can issue a series of synthetic digital assets that can be traded and stored on the blockchain. 

Data Source: Tradingview.com 

These synthetic assets are more like derivatives based on real-world assets like stocks. So, you get to trade a wide range of financial markets using advanced blockchain technology. Synthetix (SNX) is one of the most interesting and innovative projects in the market right now.

Pulse X

Pulse X is a Uniswap (UNI) fork designed to give PulseChain users enough liquidity and a great trading experience. It is important to note that both Pulse X and PulseChain are all projects under development. 

The hope is to have both running at the same time but we expect the PulseChain Mainnet to begin operations either this month or in early March. Also, there is already huge interest in these projects and they seem to have the decent potential for incredible returns.

The post Best new coins to buy in February that could grow 100x this year appeared first on Coin Journal.

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Quant ( QNT) surges to a 3-week high – Can this bullish momentum bring sustained gains?

Quant ( QNT) has been rallying over the last week or so. The coin managed to hit 3-week highs after losing much of its 2021 gains in January. But will this bullish uptrend bring sustained gains in the near term? Price action and analysis here below but first, some highlights:

  • At press time, QNT was trading at $126, up nearly 13% in what is the largest single-day gain this year.

  • Despite this, QNT is still below the crucial psychological zone of around $150 even with the bullish run.

  • Quant ( QNT) has been making moves in Central Bank Digital Currencies (CBDCs), something that may push prices higher.

Data Source: Tradingview.com 

Quant ( QNT) – Near term predictions and analysis

After losing steam at the start of 2022, it seems like Quant (QNT) is well and truly on a path of full recovery. The token has been rising for the last 4 consecutive days and is now nearly 32% up from the lowest price recorded this year. 

Despite this, QNT is still way lower than its all-time high of $325 and is yet to surge past the crucial psychological zone of $150. But things are looking good. 

In fact, recent reports indicate that the network has been making serious moves on Central Bank Digital Currencies, something that may deliver real value in the long term. We expect this bullish surge to continue in the coming days.

Why should you buy Quant (QNT)?

QNT often comes off as a very underrated and undervalued asset. With a market cap of around $1.5 billion, there is just so much room for growth here. Besides, QNT also appears to be developing its ecosystem and embracing new innovations to power its growth. If you are looking for a blockchain project that promises immense value for the future, then QNT is highly recommended.

The post Quant ( QNT) surges to a 3-week high – Can this bullish momentum bring sustained gains? appeared first on Coin Journal.