Kategorie: Altcoin News

The Ethereum merge is likely to entrench Ethereum’s position as a top layer-1 chain. That’s because, with better scaling and lower fees, more developers are likely to find Ethereum even more attractive. 

So, does this mean the platform blockchain market is cornered, and there is no space for other players? Far from it! While Ethereum is likely to entrench its position as the number one platform blockchain, others will still thrive. That’s because Ethereum fees will, on average, still be higher than other players in the industry. 

In fact, at current depressed prices, now could be a good time to invest in layer-1s that have the potential to do well if Ethereum triggers a broader market rally in the short term.

Solana (SOL)

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Solana (SOL) takes pride in being one of the fastest platform blockchains and is unmatched regarding transaction costs. Solana can handle up to 50k transactions per second at fees in the pennies. 

While Solana has had security scares recently, developers seem to have confidence in it, as its adoption is growing fast. For instance, Solana NFTs are growing exponentially, and the number of DeFi projects launching on Solana is also on the rise.

One of the big projects moving to Solana and could change its fortunes in short to medium term is Helium. Helium is considering a shift to Solana, and once it happens, it will be a huge credibility boost for Solana.

It will be a good indicator that Solana still has room to grow despite the increasing pressure that Ethereum will put on Layer-1 blockchains going into the future. When you factor in that Solana is way off its most recent highs, it’s clear why it is one of the top cryptocurrencies to watch even after the Ethereum merge.

Terra Classic (LUNC)

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LUNC

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.

Terra Classic (LUNC) has been in the news recently, primarily due to the token burn that was implemented as an on-chain tax. While this is the reason for the massive pump witnessed last week, Terra Classic remains one of the most capable Layer-1s in the market. It still has the technical capabilities and lots of projects building on top of it. That’s despite the UST collapse that almost ruined the network. Terra Classic’s scalability, low fees, and now the token burn put it in a unique position to compete with Ethereum even after the Ethereum merge.

Avalanche (AVAX)

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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Avalanche (AVAX) is another top layer-1 cryptocurrency gaining traction quite fast in adoption. The most recent pointers to Avalanche’s growing adoption include GMX, a decentralized spot trading exchange, and DeFi aggregator 1Inch. Being one of the more stable L-1 chains, Avalanche is likely to record growing adoption even after the Ethereum merge. 

Since Avalanche is trading at record lows compared to its most recent all-time highs, it stands out as one of the top cryptocurrencies to keep an eye on not just in September but for days to come.

The post 3 Ethereum competitors to watch even after the merge appeared first on CoinJournal.

• Ravencoin has gained 54% in a week

• Ravencoin blockchain is a Bitcoin fork

• The token is boosted by speculations of PoW miners’ shift

Ravencoin RVN/USD is alongside Terra Classic, making parabolic moves. In the last 7 days, RVN has added 54.42%. The gains are not stopping as the token surged by 20.36% in 24 hours as of the time of writing. So, what’s driving the price of the 79th-ranked cryptocurrency by market cap?

Let’s first dissect what Ravencoin is and its role in the crypto ecosystem. 

Ravencoin is a brainchild of Bitcoin, with the blockchain just 4 years old since its April 2018 launch. The blockchain has most of the features of Bitcoin. As such, it undergoes periodic halvings and runs on the Proof-of-Work consensus mechanism. 

Ravencoin’s whitepaper indicates that it is a blockchain-based ecosystem. It allows users and developers to come up with tokens for whatever asset of their liking. The ability to create a token from virtually anything is the network’s main value proposition. Users can then move the tokens to third parties via the Ravencoin network. 

Ravencoin price and prediction

While RVN has been bullish lately, it is nothing near its former self. At press time, the cryptocurrency was trading at $0.044, the highest ever since May. While crypto recoveries were boosting RVN, increased speculation is also behind the latest surge. PoW miners are seeking alternatives ahead of Ethereum’s move to Proof-of-Stake consensus. Investors are looking at Ravencoin as a superior alternative to Bitcoin in PoW miners’ shift. That’s because the network comes at lower costs and faster speeds. To some extent, RVN investors are reading from the same script as the Ethereum Classic enthusiasts.

Source – TradingView

From the technical outlook, RVN has successfully cleared the $0.04 resistance. We shall remain interested in the level as Ethereum Merge approaches. More volatility could see the token continue to surge. The next level is $0.05.

Summary

Ravencoin is rising due to growing expectations it could attract PoW miners from Ethereum. The token remains largely susceptible due to volatilities. $0.04 is the level to watch if seeking to buy.

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Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

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The post Ravencoin has surged by 54% in the past week – What’s driving it? appeared first on CoinJournal.

• Near Protocol token surges 9% and reclaims $4.2

• Crypto recoveries and expected Ethereum Merge potential reasons for the surge

• Momentum remains weak, but NEAR could start a bullish surge if it sustains $4.2

Near Protocol token NEAR/USD buyers are keeping hopes alive as the token reclaims $4.2. The level is the established support for the token of the Layer-1 network. In a single day, the token surged by more than 9%, erasing some previous losses. The gains took NEAR slightly above $4.2, but the momentum remained weak. Trading volume was also up 6.0% in 24 hours, highlighting increased buying pressure. So why is NEAR gaining?

A combination of factors could explain the recent recoveries in NEAR. A spot check indicates that the overall crypto sentiment is improving. Near Protocol is recovering in line with the crypto sentiment. Nonetheless, NEAR gains were above most cryptos. The Ethereum Merge, expected later this month, could be boosting Layer-1 blockchains.

Clearly, there is no specific event boosting Near Protocol token. However, to a technical reader, the current price is one to watch for the next few days. 

Near Protocol token price action on the daily chart

Source – TradingView

NEAR trades at $4.6 after capturing the $4.2 level. The minor breakout could have caused the increased buying pressure at the support. A MACD crossover above the moving average is another bullish indicator for the cryptocurrency. The 20-day moving average has joined support. The price is yet to break above the 50-day MA. 

Final thoughts

NEAR is a potential buy at the current levels as bullish signs emerge. We need to wait for a bullish confirmation after the close of the daily candlestick. If the candlestick crosses below, that could invalidate the bull call. It is nonetheless important to monitor NEAR at the $4.2 level.

The post Near Protocol gains 9% as bulls try to outwit bears at $4.2. What next? appeared first on CoinJournal.

• Decentraland has gained 3% in the past day.

• Native MANA token remains key in the metaverse space.

• The token is experiencing a low buying pressure with the RSI at 38.

Decentraland MANA/USD shows early recovery signs. In the past 24 hours, the token has gained 3.2%, but remains 0.49% down in the past week. MANA is not the only token staging a comeback in the metaverse space. Sandbox has pumped 3.66% during the period. 

Despite the positive gains, Decentraland is a shadow of itself. The token is down by a significant margin since its ATH of $5 last year. At the time of writing, MANA was exchanging for $0.76. Nonetheless, Decentraland remains a significant crypto project. It supports the emerging crypto sectors like DeFi, DEXs, and NFTs.

Decentraland is a protocol for metaverse and crypto games. On the platform, users can interact, play games, purchase items, or attend virtual events. Its native MANA token is based on Ethereum’s ERC-20 standard.

Looking into the future, the buzz around the metaverse could gain momentum. The popular function where individuals can buy LAND tokens is gaining traction among corporations. The virtual assets represent unique pieces of virtual land that are purchased and sold in an open market. Despite the positive prediction, MANA has some hurdles to overcome in the technical outlook. 

MANA trades around key support amid weak momentum

Source: TradingView

According to the daily chart above, MANA is trading around the $0.76 support level. From the chart, the bears still have a bigger control of the metaverse token. At an RSI of 38, the token lacks the buying pressure and can retest lower levels. Moreover, MANA is trading below the 20-day and 50-day moving averages, offering resistance from above. 

Concluding thoughts

The current price surge in MANA shows that the bulls are buying the dips. However, the momentum remains low, and the upside potential is low. The current level does not present a perfect entry point since MANA is unlikely to sustain the uptrend. There could be some consolidation around the moving averages.

The post Can MANA sustain the daily surge amid a weak momentum? appeared first on CoinJournal.

The financial markets tanked towards the end of the week after Fed Chairman Jeremy Powell took a hawkish stance during the annual Jackson Hole event. During this much-awaited event, Powell said that the Federal Reserve would keep raising interest rates until such a time that inflation is completely dealt with.

This means money will likely flee risky assets, at least in the foreseeable future. However, if you want to play the crypto markets now, some cryptos are likely to show some resilience despite the bearish cloud hanging over the market. Here are a few cryptocurrencies likely to hold on well under current market conditions.

Ethereum (ETH)

While the broader crypto market is likely to be affected by the bearish cloud across the financial market, Ethereum (ETH) has a good chance of pulling off a surprise rally in early September and probably for the rest of the year. That’s because the upcoming Ethereum merge is a big deal and changes how Ethereum operates in a very big way. The Merge’s impact on Ethereum’s tokenomics is one of the biggest triggers that could see Ethereum perform well regardless of the Fed’s hawkish stand.

For context on how big of a deal this is, one needs to consider that after the Ethereum upgrade of August 5th, 2021, this cryptocurrency rallied when the rest of the market was still weak. Ethereum kept going up, and by November 2021, it had made highs of $4800. If history is anything to go by, this is a cryptocurrency to watch.

Polygon (MATIC)

If Ethereum is likely to draw investor attention in the coming days, you also need to consider cryptocurrencies that benefit directly from the upcoming Ethereum merge. None stands out in this case than Polygon (MATIC). Polygon is an Ethereum layer-2 cryptocurrency that already has a large ecosystem of cryptocurrencies building on top of it. As such, if the Merge is a success, you can expect to see some level of activity on Polygon, regardless of how the market will be trading at the time.

Loopring (LRC)

One of the big reasons behind the Ethereum shift to Ethereum 2.0 is to reduce costs and increase speeds. After the Merge, there is likely a surge in trading volumes for Ethereum tokens. This means platforms that allow for the trading of Ethereum tokens are likely to experience a rise in demand. One of the most established Ethereum token trading platforms is Loopring (LRC). Since there is already strong demand for tokens on Loopring, and with trading costs set to drop, LRC tokens could go up, too. That’s because Loopring is the token that drives the Loopring ecosystem. The more activity, the higher the potential value growth.

The post Three cryptos likely to do well despite the Fed’s Hawkish stand appeared first on CoinJournal.