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Top undervalued coins in play-to-earn that you should watch in 2022

The crypto industry has been diversifying quite a bit in recent years. Play-to-earn and NFTs are perhaps two areas that are providing much-needed excitement in the industry. For this reason, most investors are keen to unlock value in these two areas. Here is why P2E is popular:

  • Play-to-Earn is a relatively new area with exemplary potential

  • Several P2E projects have already delivered huge returns for investors

  • The play-to-earn sector is largely intertwined with the growing NFT craze.

Being a new industry, undervalued projects in P2E are quite diverse. We decided to create a top 3 list below to give you some investment ideas:

Kara Star (KARA)

Kara Star (KARA) is a play-to-earn game that also comes with metaverse components. There are two key aspects of the game. The first is the Kara. These are NFT-based pets in the game. 

Data Source: Tradingview 

There is also virtual land. This is where the Kara lives. The goal for players is to grow their Kara and battle it out with other users for rewards. KARA is already listed in Kucoin and Binance.

Crypto Golf Impact 

As the name suggests, Crypto Golf Impact is the first mobile-based play-to-earn golf game. It is relatively new, having launched early this month. The game allows users to earn major rewards by competing in major tournaments. It also offers a very real-life gaming universe. The game has the potential to become a big hit this year.

Aqua Farm

Aqua Farm is an upcoming role-playing P2E game built on the Polygon network. The game is expected to launch later this month. The adventure-filled game is designed to deliver a truly immersive experience and comes fully integrated with an NFT marketplace. If you are looking for real upside potential, this would be a great game to keep on your watchlist.

The post Top undervalued coins in play-to-earn that you should watch in 2022 appeared first on Coin Journal.

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Tezos (XTZ) aims for $2 after consolidating above a key support zone

The crypto market is stabilizing after steep losses last week. Most coins are trying to generate demand for bullish runs, and Tezos (XTZ) is not any different. The coin in fact looks poised for a decent uptrend in the coming days. Check out the main takeaways below:

  • XTZ is consolidating above its crucial $1.6 support zone

  • If the price action remains above this zone at the close of trading today, XTZ could test $2.

  • Despite this, the coin remains in a long-term bearish trend.

Data Source: TradingView 

How soon will XTZ cross $2?

It’s actually not easy to answer this. As you know, sentiment in crypto over the last few months has been quite hard to predict. At the moment, it seems investors remain fearful as headwinds in the market continue to wipe away profits. 

However, we expect XTZ to brush across $2 in the days ahead. The key for the altcoin would be to maintain the $1.6 support. As long as bulls keep the price action above this zone at the end of trading today, then we will see more upside towards $2. 

But there is of course a risk that $1.6 could be lost. If this happens, XTZ will likely bottom at $1.3 or thereabout before it makes a comeback. However, despite this short-term upside, the overall trend for XTZ remains bearish. The coin will likely accelerate losses in Q2 2022.

Is Tezos a good coin?

If you are looking at the value proposition that Tezos offers, then you will agree it is a decent project. The recent slump in the price is however worrying. XTZ is in fact down 80% this year. 

Nonetheless, we expect some recovery before 2022 is out, especially if overall sentiment in the market starts to improve. Based on these metrics, XTZ should be a decent buy for long-term investors.

The post Tezos (XTZ) aims for $2 after consolidating above a key support zone appeared first on Coin Journal.

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Anchor Protocol (ANC) wrecked by Terra’s crash – Is there hope for recovery?

Before the UST de-pegging and the eventual collapse of Terra (LUNA), the Anchor Protocol (ANC) was one of the biggest DeFi platforms in crypto. But the project was heavily exposed to UST, and the de-pegging had a massive impact on its value. But will ANC ever recover?

  • ANC lost nearly 1000% in value shortly after the UST de-pegging

  • At one point, the coin fell from highs of $2.13 to as low as $0.08.

  • The road to recovery will be difficult but not impossible.

Data Source: TradingView 

How will Anchor Protocol (ANC) recover?

It will take some time before ANC recovers. This recovery will depend on two things. First, how fast the Terra chain is able to resolve the LUNA collapse will be crucial. Secondly, returning UST to its peg will have a huge impact on lifting ANC in the long term. 

Besides, ANC has already shown it has what it takes to come back. For example, shortly after UST was de-pegged from the dollar, ANC literally collapsed. It looked like it was going to zero. But we saw an instant reversal, with ANC rallying by nearly 1500% from its lows. This is a sign that investors are still confident about the protocol. 

Despite this rally, Total Value locked on Anchor has not really improved. After the UST crash, Anchor’s TVL dropped to $307 million. Before this, Anchor was ranked 4th in terms of TVL. The crash pushed it to 60th. We have not seen any improvements in TVL. This could hamper any hopes of recovery.

Should you buy Anchor now?

There are still many unknowns with regard to the Anchor Protocol. For example, despite efforts by the Terra community to defend the UST peg, the stablecoin has continued to fall apart. 

It doesn’t seem the issue will be resolved soon. As such, just steer clear of ANC for now until further developments on LUNA and UST are announced.

The post Anchor Protocol (ANC) wrecked by Terra’s crash – Is there hope for recovery? appeared first on Coin Journal.

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Do Kwon outlines fork proposal as he seeks to save Terra

The proposal is to have a new Terra (LUNA) chain and (old)Terra Classic (LUNC), with UST removed from the new chain.

Terra should fork to create a new chain to save it from total collapse, Terraform Labs’ Do Kwon announced on Monday.

According to Kwon, the new plan will also help save the community around the cryptocurrency, which he says has a lot of good developments going.

Kwon said that the plan is to have a new governance proposal put to the community on 18 May. Thereafter, a timeline would kick in towards forking the Terra blockchain, with the algorithmic stablecoin not part of the new blockchain.

“$UST peg failure is Terra’s DAO hack moment – a chance to rise up anew from the ashes,” Kwon wrote.

New Terra blockchain

If the proposal that Kwon plans to put forth is adopted, the new chain will go live on 27 May. According to him, the new blockchain will be called Terra and have its native token as LUNA. Meanwhile, the old chain would be called Terra Classic and have its native coin as LUNC.

Under this proposal, Terra (LUNA) and Terra Classic (LUNC) will then co-exist.

In the event the community adopts the ‘rescue plan 2’, the team will airdrop LUNA across Luna Classic stakers and holders, UST holders, and essential app developers on the Classic chain.

To make the new chain fully community-owned, Kwon proposes the removal of TFL’s wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) from the airdrop whitelist. Among other plans, Terra will support staking rewards of 7% to incentivize users and help secure the blockchain.

Token supply will be capped at 1 billion, the under-fire Terraforms Labs CEO noted.

Kwon’s proposal comes a day after Binance CEO Changpeng Zhao said he was ready to offer help to Terra, only that he would prefer to see a lot more transparency and accountability from the team.

The plan also follows reports that the Luna Foundation Guard blew 80,000BTC trying to save the UST peg.

The post Do Kwon outlines fork proposal as he seeks to save Terra appeared first on Coin Journal.