Autor: dot-traders

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These 3 undervalued tokens could become hot in the months ahead

The goal for any investor is to buy assets at a lower price and sell them when the price has shot up. In crypto, prices for assets can often shoot up very fast. If you are able to find undervalued gems, you could become very rich. But how do you find these undervalued coins? Here are some tips:

  • Focus mostly on new projects that are yet to achieve massive media coverage

  • Follow major venture capital firms and where they are putting their money

  • Analyze project roadmaps and visions to see future potential today.

Nonetheless, we have a few undervalued coins here below that could provide some decent growth in the months ahead.

Merit Circle (MC)

Merit Circle (MC) is a decentralized autonomous organization or DAO that focuses mainly on the metaverse and play-to-earn gaming. The DAO is trying to build the future of the metaverse by investing to accelerate innovative projects in this area. 

Data Source: TradingView

Merit Circle has announced major partnerships over the last few weeks, including one with the Axes Metaverse and others. As the metaverse becomes more mainstream, MC is likely to gain a lot.

Mines of Dalarnia (DAR)

The play-to-earn space is right now the most important growth sector in crypto. It’s also a relatively newer area that is seeing more innovations every day. One project that has captured the imagination of most players is the Mines of Dalarnia (DAR). 

This immersive game set in a virtual tech universe has released important updates already. We expect it to blow up very soon, especially now that interest in P2E gaming is growing.

Oasis Network (ROSE)

The Oasis Network (ROSE) has often been ranked as one of the most impressive projects in DeFi right now. Although it’s not new, based on its roadmap and recent partnerships, it is clear that Oasis still has so much potential to unlock.

The post These 3 undervalued tokens could become hot in the months ahead appeared first on Coin Journal.

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KuCoin price has nosedived. Should you buy the KCS dip?

The KuCoin Token price declined sharply during the American session on Friday. The token slipped to a session low of $19.34, which was its lowest level since March 28th this year. KCS has declined by more than 12% from its YTD high, bringing its total market cap to over $1.4 billion.

Is KCS a good buy?

KuCoin is one of the biggest companies in the cryptocurrency industry. The firm runs a popular exchange that handles billions of dollars every day.

Like other companies in the industry, KuCoin has launched its personal token known as KCS, which is used to incentivize usage of the platform. Holders of the coin usually receive a discount whenever they use it to trade.

The KuCoin price has held better than other cryptocurrencies in the past few weeks. This performance is mostly because of the funds that the company raised last week. The firm raised $150 million from a group of investors such as Jump Trading, Circle Ventures, and Matrix Partners. It valued the firm at $10 billion.

The new funding round was surprising for two main reasons. First, many venture capital firms are struggling as the value of their holdings have fallen. For example, Tiger Global and Softbank have lost almost $50 billion combined this year. 

Read our comprehensive review of KuCoin here.

Second, the round was surprising since the crypto industry is struggling as it was evidenced in the most recent results by Coinbase. The firm lost over $400 million in the first quarter. Worse, its market cap has dropped to about $14 billion as a publicly-traded company. At its peak, it was valued at over $75 billion.

KuCoin intends to use the funds to expand its business to other sectors like Web3. This will include building decentralized exchanges, games, and other products.

KuCoin token price prediction

Turning to the four-hour chart, we see that the KCS price diverged from other cryptocurrency prices. On the four-hour chart, the coin formed a cup and handle pattern that is shown in black. It has now pulled back and moved sharply below the upper part of the pattern. 

It has also moved slightly below the 25-day and 50-day moving averages while the Relative Strength Index has moved below the oversold level. Therefore, the sell-off will likely continue as sellers target the key support at $18. 

The post KuCoin price has nosedived. Should you buy the KCS dip? appeared first on Coin Journal.