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Here is why Fantom is up by more than 14% today

The cryptocurrency market has performed well over the weekend, with the total market cap now above $1.3 trillion again. 

The cryptocurrency market is having a positive start to the new week. The broader market has added more than 1.3% to its value in the last 24 hours and the total market cap now stands above $1.3 trillion.

Bitcoin is once again trading above $30k per coin after adding 1% to its value so far today. Ether is also trading above the $2k threshold after adding 2% to its value in the last 24 hours.

However, FTM, the native token of the Fantom ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap today. FTM is up by more than 14% in the last 24 hours.

The rally can be attributed to the adoption news the Fantom team recorded over the weekend.

Over the weekend, the Fantom team announced that blockchain data indexing protocol Unmarshal has integrated Fantom. The adoption also meant that Fantom is now integrated into the Unmarshal aggregated blockchain explorer Xscan, with portfolio tracking functionality coming soon, the Fantom team added.

Key levels to watch

The FTM/USD 4-hour chart is currently bullish as Fantom has been performing well in recent days. FTM is up by more than 38% in the last seven days, making it one of the top performers amongst the leading 50 cryptocurrencies by market cap.

The MACD line crossed into the positive territory, indicating bullish momentum. The 14-day relative strength index of 71 shows that FTM could soon enter the overbought region.

At press time, FTM is trading at $0.4887 per coin. If the rally continues, FTM could surge past the first major resistance level at $0.5987 before the end of the day. However, the resistance level at $0.7763 should cap further upward movement in the short term.

If the bears regain control of the market, FTM could slip below the $0.400 support level before the end of the day. However, it should comfortably defend the $0.3662 support level in the short term. 

The post Here is why Fantom is up by more than 14% today appeared first on Coin Journal.

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Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol

The crypto market as a whole is bullish with most top 100 coins in the green at the time of writing. 

Top cryptos

Bitcoin gained slightly over the weekend and was trading just above $30,000 at the time of writing. It has seen a roughly 3.3% rise from its closing point on Friday last week. 

Ethereum, the second biggest crypto, also gained around 3% over the same period and is trading for just over $2,000, where it has in recent weeks. 

Outside the top 10, AVAX and Shiba Inu were the biggest winners, rising by more than 6%. Tron’s TRX is up around 3%, as are most top 20 coins. 

In the wake of Terra’s collapse, some investors are trying to escape from the project, while others are trying to pick up the pieces. 

Experts are warning that watchdogs will use the event to push for comprehensive stablecoin regulation. Four-fifths of Terra holders voted to rebuild the protocol on Terra’s governance proposal, but without the algorithmic element. 

Top movers

Outside the top 20, the tendency was similar, with most coins adding 3-9% to their value. Notable standouts include eCash with 14%, Neo with 17%, and Convex Finance and the associated Curve DAO Token with 13%.  

eCash is rising because a competition for a cash prize in its native token XEC is ending soon. Holders have been asked why they love eCash. The best answer will get 1 million XEC.

An exciting Moon Creatures NFT airdrop is coming up soon, and Neo’s token is gaining on the news. TerraUSD (UST) is currently trading for $0.07, up 13.63% so far today.   

At the other end of the scale, Kyber Network’s KNC lost 4% and Zilliqa lost 3%, both reversing recent gains.   

Trending

The biggest winner today is Sweet SOL (SSOL), a multilayer hyper-deflationary token that allows you to receive passive income in your wallet by holding through their mining protocol. 

Each transaction with SSOL provides for 3 functions: burning, reflecting and liquidity generation. SSOL has added 1,038% to its value today.  

The post Highlights May 23: Cryptos in the green, LUNA holders vote to rebuild protocol appeared first on Coin Journal.

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The land of the absurd: how did ANC gain 66% and where to buy ANC?

Sometimes things in crypto can be absurd. The Verge wrote in an article published on May 20 that Luna’s popularity was due to Anchor Protocol’s lending program, which promised annual yields of almost 20 percent.

Terra died, and Anchor Protocol’s token ANC is currently up 66% and gaining. 

If you want to know what ANC is, can it give you good returns, and the top places to buy ANC, you’ve come to the right place. 

Top places to buy ANC now

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.

Buy ANC with KuCoin today

BKEX

BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.

Buy ANC with BKEX today

What is ANC?

Anchor Protocol is a high-yield lending and borrowing protocol on stablecoin deposits. Lenders can deposit stablecoins and profit from their investments while taking advantage of low volatility at the same time – at least that’s what Anchor claims.

Anchor Protocol has attracted risk-averse investors looking for low-volatility, high-yield investments. It focused on LUNA and Terra’s stablecoin UST. 

Anchor Protocol is not the only lending protocol out there; it competes with AAVE, Compound, and more. It claims to stand out through its intuitive use and elegant user interface. 

The main value of the protocol is in connecting lenders and borrowers by offering the latter a way to borrow in stablecoin without losing their investments and the former a high interest rate on a purportedly stable asset. 

Should I buy ANC today?

ANC can be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value. 

ANC price prediction

Wallet Investor believes ANC is a bad long-term investment, echoing sentiment on Twitter that Anchor is ‘next’ after Terra’s crashed LUNA. Digital Coin Price is more positive, predicting a slight increase of ANC to $0.33 this year. 

As for the following years, they predict: 

  • 2023: From $0.31 to $0.37
  • 2024: From $0.28 to $0.42
  • 2025: From $0.40 to $0.49   

ANC on social media

The post The land of the absurd: how did ANC gain 66% and where to buy ANC? appeared first on Coin Journal.