Kategorie: Altcoin News

• Fantom blockchain is a Layer-1 project with smart contract functionalities

• The native token FTM broke past key resistance at $0.34

• FTM could rise to hit $0.43 next as bullish momentum develop

Fantom FTM/USD recent recoveries underline the trust in scalable Layer-1 solutions. Leading blockchains like Bitcoin and Ethereum have been criticized for costly and slow transactions. Layer-1 alternatives were popular last year due to their scalability and low gas fees. Fantom has been widely touted as a Layer-1 smart contract platform ready to rival for top spots.

Ranked at position 53 by market cap, Fantom is already punching below its knees. That was after a decline following cracks in its own ecosystem followed by a bear market. However, Fantom is renewing itself. Gains in the past one week are around 9%. The gains will likely accelerate in the coming week as Fantom broke past key resistance at $0.34. The token currently trades at $0.37 in bullish momentum and will likely reach $0.43 next.

FTM pushes above the resistance-turned support

Source – TradingView

Technically, FTM has set $0.34 as the reference support. That was after the token blasted past the level acting as the resistance. The MACD line has crossed above the moving average, affirming the bullish momentum.

FTM will continue rising, with the next resistance now set at $0.43. If the level is broken, the next resistance to watch is $0.66. That will depend on the prevailing crypto sentiment. 

Concluding thoughts

Although FTM remains a shadow of its 2021 highs, it is recovering. It eyes higher levels after breaking past $0.34. We believe investors can buy the token in the long term. For short-term traders, $0.43 is the next level to take profits.

The post Fantom token remains on course to above $4 as price overcomes resistance appeared first on CoinJournal.

The cryptocurrency market is never short of surprises. In 2021, Shiba Inu came out of nowhere and became one of the best-performing cryptocurrencies. Its 48,000,000% rally created lots of millionaires out of small investors. At the moment, the cryptocurrency is seemingly at the end of a multi-month bear market. As such, it can be an excellent time to start scouting for cryptocurrencies that have the potential to rally unexpectedly and give investors a high ROI. From our analysis, here are three cryptocurrencies that could rally unexpectedly in the next cryptocurrency bull run.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has been around for a while now. However, Ethereum Classic has underperformed Ethereum for years. That’s because, after the 2016 fork, the momentum shifted towards Ethereum, relegating ETC to an outlier chain. 

However, changes in the Ethereum blockchain have created the perfect conditions that could give a new lease of life to Ethereum Classic. One of these conditions is the upcoming Ethereum merge. 

After the merge, the Ethereum blockchain will run purely as a Proof-of-Stake network. Miners who own Ethereum ASIC miners are likely to turn to Ethereum Classic. That’s because it is the only other cryptocurrency with which Ethereum mining equipment is compatible. 

Ethereum Classic is one of the best performing cryptocurrencies in July, as Ethereum miners turn to it. As more miners turn to support ETC, the network will become more secure, which could also drive adoption. This factor could make ETC one of the top cryptos with good odds of outperforming the market in the next bull run. 

NEO (NEO)

Neo (NEO) is another old-school cryptocurrency that underperformed in the last cryptocurrency bull run. This is because it has been overtaken by newer cryptocurrencies that investors believe have better prospects. However, there is a good chance that NEO could do well in the future. That’s because the NEO team has reimagined NEO, making it attractive for Web 3.0 projects. Given that Web 3.0 is expected to be the next big thing in the evolution of blockchain technology, NEO could give investors a surprise going into the best.

Besides this, NEO is one of the easiest blockchains for anyone looking to create a smart contract. This factor could draw in many businesses looking to make smart contracts without investing much in coding experts. It is one of the factors that could see NEO pull a surprise, especially now that it is starting to attract attention again.

The post Two old-school cryptocurrencies that could surprise investors in 2022 appeared first on CoinJournal.

• Optimism token has surged by almost 100% in one week
• Positive developments in July have been boosting the token
• Investors should buy on a retracement

Investor interest is back on Ethereum Layer-2 scaling solution Optimism. Over the past one week, the token has gained more than 98%. That, of course, underlines the gains other Ethereum-based tokens have been experiencing. Cryptocurrencies such as Ethereum Classic have also been top gainers. Nonetheless, a further scrutiny of Optimism reveals underlying fundamentals driving the surge.

On July 26, Optimism announced the launch of Drippie. Drippie is a trust-minimized conditional transaction system of Ethereum. It will let users conduct transactions following set conditions. Optimism expects the system to solve automation issues that will increase the performance of the blockchain.

The integration follows another positive development on July 24. Curve Finance had announced a grant proposal that would raise liquidity on Optimism. The move is expected to allow one million Optimism tokens to be distributed on the Curve pool. Liquidity providers will be incentivized with the OP tokens.

OP token has been getting boosts from the July developments. But to an investor, is the token now attractive or a bubble burst is about to happen?

Optimism trades at a high level but faces immediate resistance

Source – TradingView

While the recent developments are positive for OP, the current price could be unsustainable. The RSI points to overbought conditions, and a correction is more probable. We recommend investors buy on a retracement. The token could potentially slide to $1.45 as it already faces resistance at $1.88.

Concluding thoughts

The latest developments increase the utility of the Optimism token. At the current valuation, investors should consider buying lower as corrections are more imminent. The potential support zone is at $1.45.

The post Optimism adds 98% in a week – Is the rally driven by fundamentals? appeared first on CoinJournal.

Analysts agree that Web 3.0 will transform the web as we know it. It is a transformation likely to be as revolutionary as Web 1.0, which completely changed how people interact and do business for good. With the prospects for growth in this market, it is an excellent time to start shopping for high-potential Web 3.0 cryptocurrencies to invest in, now that prices are still at record lows. 

Polkadot (DOT)

Polkadot (DOT) is one of the best Web 3.0 cryptocurrencies today for its scaling capabilities. Polkadot can scale thanks to its use of sidechains called parachains. Polkadot also prides itself in interoperability in that Dapps can seamlessly send data from Polkadot to other chains.

It is these capabilities that are driving the adoption of the Polkadot blockchain. The latest wave of adoptions comes from the Web 3 Foundation, which has approved 400 projects that will build on Polkadot. Web 3 Foundation noted that the nature of the projects that have received approval ranges from those creating the entire Web 3.0 stack to those building Dapps for everyday use. 

With such growing demand for Polkadot in the Web 3.0 space, the odds are that DOT’s value will also increase. That’s because you need DOT tokens to transact in the Polkadot ecosystem. 

Filecoin (FIL)

Filecoin (FIL) is one of the top Web 3.0 cryptocurrencies looking to decentralize data storage. In the past week, Filecoin has been one of the best-performing cryptocurrencies, rallying by over 80%.

The rally was triggered by news that the Filecoin Foundation for the Decentralized Web had partnered with Harvard’s Library Innovation Lab. The working relationship is geared towards helping libraries use technology to spread knowledge. This is a big deal as it anchors Filecoin as one of the cryptocurrencies that could lead the way in pushing academia and the book publishing market into Web 3.0.

Given that Filecoin is also growing in adoption in other markets, there is no doubt that Filecoin has a promising future in Web 3.0. It’s a cryptocurrency worth keeping an eye on now that prices are still pretty low.

Theta Network (THETA)

The video streaming market is ripe for disruption by blockchain technology. As currently structured, censorship has become a significant issue affecting content creators and consumers. Web 3.0 can take away the middleman and solve this problem. 

One of the cryptocurrencies leading the way on this front is Theta Network (THETA). Theta aims to decentralize video streaming and has gained traction over the past year. 

Besides growing adoption, the Theta team is working hard to ensure that the Theta blockchain works as it should. For instance, they recently released Theta Metachain. This aims to give Web 3.0 businesses an edge over their more traditional competitors.

With all these factors at play, there is no doubt that Theta is one of the best Web 3.0 cryptocurrencies to buy in 2022.

The post Betting big on Web 3.0? Here are three cryptocurrencies to watch appeared first on CoinJournal.

• BNB, FTT, and CRO are exchange related tokens

• Crypto-exchange-related tokens have an added security protection

• All the tokens are bullish and offer opportunities in August

Tokens backed by crypto exchanges are some of the best to own due to their added security. While the list for exchange-related tokens is inexhaustible, we bring you the best 3 selections. They are tokens with huge potential in August if the current bull market remains. 

Binance Coin (BNB)

BNB/USD ranks as the largest crypto-exchange-related token. It comes at position five overall in crypto markets, with a market cap of around $46.6 billion. The cryptocurrency is backed by the world’s largest crypto exchange Binance.

BNB ranks as a crypto to watch in August as most cryptocurrencies show up. With increased trading volumes, Binance will attract more users, and BNB will get a boost. 

Source – TradingView

BNB has recaptured the $288 level after the latest gains. That puts it at the next level of $326 in August.

FTX Token (FTT)

FTX token FTT/USD may not be among the top 20 tokens. Ranked 22nd with a market cap of $4.23 billion, the FTT token is one to watch in August. While markets crashed and most crypto exchanges faced liquidity issues, FTX remained strong. FTX CEO SAM Bankman-Fried even went ahead to help struggling firms. FTT will grow as cryptocurrencies recover.

Source – TradingView

FTT has hit resistance at $32 after recent gains. A breakout past the resistance or retracement opens buy trades next month.

Cronos token (CRO)

Cronos token CRO/USD is ranked at position 24 with a market cap of $3.497 billion. Crypto.com exchange seemed to succumb to the bear market by announcing reduced rewards on its cards. However, it backtracked, and its token is one to watch.

Crypto.com has been top in clinching sports deals and in an expansion spree. If indeed the deals are to materialize into something big, it is when cryptos start to surge.

Source – TradingView

CRO has broken above the $0.12 resistance. The token is a buy in August with a target of $0.168.

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