Kategorie: Altcoin News

Play to earn is by far one of the most exciting new frontiers in crypto. After the massive success of Axie Infinity, newer more exciting projects in play to earn are steadily coming out. But why would you even consider this niche? Here are some reasons:

• Play-to-earn games are now combining NFTs as part of the process.

• The rise of augmented and virtual reality could make a play to earn games bigger.

• A lot of institutional investors are also checking out P2E games as future investments.

Well, for those of you looking for small and relatively unknown P2E games in crypto, the list below should be ideal:

Thetan Arena (THG)

Thetan Arena (THG) calls itself an eSport-based game that combines multiplayer functionality and virtual reality. It allows users to form teams and battle other teams for in-game rewards.

Thetan Arena has so far managed to attract over 23 million users. It also remains significantly undervalued, with a market cap of less than $30 million.

Pegaxy (PGX)

Pegaxy (PGX) is a small and relatively under-the-radar play-to-earn game that allows players to earn and create real value from the game. The blockchain game is free to play and largely involves mech horse racing within a metaverse. 

Pegaxy uses a dual token system. On the one hand, there is the PGX which is the main governance token for the platform. There is however another in-game utility token called VIS. As of now, Pegaxy has a market cap of less than $3 million.

Alien Worlds (TLM)

Alien Worlds (TLM) is more of an NFT-powered metaverse that includes a P2E gaming element. The platform allows users to earn NFT rewards as they compete in a simulated virtual economy through various planetary worlds. So far, the project has seen its market cap rise above $50 million, and more growth could still come in the future.

The post This unknown play to earn games could have significant potential appeared first on Coin Journal.

Terra (LUNA) has continued its sharp decline from the start of the week. The ecosystem which is known for its stablecoins is experiencing its worst crash in months, and there are fears that the worse is not even over. Here are the key latest developments:

• LUNA has fallen by nearly 90% over the last 24 hours, following two days of steep losses.

• The crash comes as its stablecoin UST lost significant value against the dollar.

• UST has fallen sharply again after showing signs of recovery 

Data Source: Tradingview 

Why is the LUNA crash far from over?

In the last few days alone, Terra (LUNA) has seen a sharp decline of over 170%. The crash is one of the worst in the history of the stablecoin platform. The steep losses were triggered after its main UST stablecoin lost its value against the dollar. 

UST is pegged against the US dollar at a ratio of 1:1. At one point, the stablecoin was trading at around 70% less than the value of the dollar. This has sent a lot of LUNA investors panicking and as such, the sell-off has begun. We had seen UST recover slightly but these gains have reversed sharply.

LUNA will face significant selling pressure. The confidence that investors had in UST is now severely dented, and it will take time for the coin to recover from this. As of now, expect sharper declines in the token price over the coming weeks.

What’s the long-term outlook for Terra?

Despite the UST debacle, Terra still remains one of the biggest stablecoin platforms in the world. However, there is no doubt that this incident will have far-reaching effects on LUNA’s price in the short term. 

But we expect the platform to recover in the longer term, and once UST is able to regain its 1:1 ratio against the dollar, investor confidence will certainly improve.

The post Terra (LUNA) tumbles by 90% in 24 hours as UST’s recovery loses steam appeared first on Coin Journal.

Shiba Inu (SHIB) has been recovering from the massive sell-off in crypto over the last few days. The coin looks like it has some significant upside and could outperform other major coins on its road to recovery. More price analysis to come later but first, key developments:

• SHIB has gained around 3% over the last 24 hours, outperforming most major coins

• The meme coin had lost nearly 40% of its value over the last 7 days alone

• But a quick reversal that pushes SHIB up by at least 35% is plausible

Data Source: Tradingview 

Shiba Inu (SHIB) – Why bulls are confident

The beginning of May has not been good for crypto. The market has generally dropped, and SHIB was not spared. The coin lost around 40% of its value in the last 7 days. However, there is a good opportunity for a quick rebound and a trend reversal that could push the price higher. 

In fact, this will not be the first time this has happened. After dropping to $0.0000135 at the start of May, SHIB recovered very fast. The trend reversed in less than 12 hours, where SHIB gained around 30%. In the process, a swing high of $0.0000179 was set. 

Ever since the meme coin has established a range of between $0.0000135 and $0.0000179. At the moment, SHIB is at the upper side of that range at $0.00001591. We expect SHIB to surge even further in the coming days.

Can SHIB reclaim its all-time highs this year?

The volatility we have seen in the broader crypto market has been very persistent. Every time the market recovers, we end up seeing another sell-off shortly after. It is therefore unlikely that SHIB will regain its all-time highs this year. 

But this does not change the positive outlook for the meme coin. There is still an opportunity for relatively better gains before 2022 is out.

The post Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market appeared first on Coin Journal.

Avalanche (AVAX) price seems to be heading the same way as Terra (LUNA) mainly because it is one of the collateral assets that maintain TerraUSD (UST), Terra’s new stablecoin; the other collateral asset is the US Dollar which the UST has unpegged from.

After the UST unpegged from the US Dollar, its price became unstable and it is currently on the decline prompting the Luna Foundation Guard (LFG), a Singapore-based non-profit backed by TerraLabs, to empty its crypto reserve to support the stablecoin back to its $1. This places AVAX in a precarious situation with fears of a massive sell-off since it is one of the main backers of UST.

Today, AVAX’s price has experienced a massive drop after dropping by more than 35%.

At the time of writing, AVAX was trading at $31.39, down 36.28% after retracing from a daily high of $50.09. This drop coincides with that of UST which has shed more than 86%.

It is important to note that the UST’s US Dollar de-pegging happened despite LFG’s effort to try to empty its crypto reserve to support the UST peg. Currently, the LFG has 1.97 million AVAX worth about $74.75 million.

Avalanche bulls’ effort to support the AVAX token

Avalanche bulls have been trying their best to stop the token from dropping below the key support line near $36 but their effort only helped the token to recover about 22% of today’s loss with its price bouncing back from $32.50 to over $39.50 before retracing back again to $31.39 at the time of writing.

Although the token is aimed at regaining a bullish trend, it’s still facing headwinds from the high-interest rate environment which has diminished buying sentiment in the crypto market.

This could lead to AVAX/USD pair retesting $36 as the support for the breakdown move, which can lead to price risk of $20.

The post Avalanche (AVAX) down 35% amid fears of massive AVAX sell-off after UST meltdown appeared first on Coin Journal.

The broader crypto market has started May on a somewhat disappointing note. Some of the major coins like Bitcoin and Ethereum have all fallen sharply from their rallies in April. While this is concerning, it means there is also a good opportunity to buy decent dips. Here is why:

• Despite a slow start in 2022, the crypto industry is still expected to outperform other asset classes.

• The long-term prospects of crypto still remain positive even with recent headwinds.

• There has never been a better time to buy crypto than now based on the prices.

So, if you are looking at the May dip and wondering where to put your money, here are 3 coins to get now.

Solana (SOL)

Solana (SOL) has often ranked as one of the most exciting crypto projects in the market. But 2022 hasn’t really delivered a lot of success for the altcoin. Instead, SOL has seen sharp and consistent losses.

it is now trading at its lowest levels this year, and this provides the perfect chance for investors to buy. In fact, Solana has a realistic chance of growing 3 or more times this year. The current dip is merely short-term.

Cosmos (ATOM)

Cosmos (ATOM) is one coin that doesn’t often get the attention that it deserves. The project has grown quite steadily over the last few months. However, just like many other altcoins, it remains in a downtrend due to slow improvements in investor sentiment across the market. But once the crypto market bounces back, ATOM will be one of the big gainers.

Waves (WAVES)

Waves (WAVES) is one of the few coins that appear to be reporting gains even as most other coins in the market drop. The coin has had some steep corrections though over the last few weeks, but it’s still worth watching in the longer term.

The post May shopping list: 3 coins to consider buying this month appeared first on Coin Journal.