Kategorie: Altcoin News

The Origin Protocol (OGN) has taken a plunge today of nearly 10%. This comes even as most coins post gains. But despite this, the long-term indicators for OGN remain positive. How long they stay, that way is another story. But here is what matters:

• The OGN token remains slightly above its 25- and 50-day simple moving averages.

• The coin is currently trading at $0.45, down by around 10% over the last 24 hours.

• OGN is also down nearly 88% from its all-time highs last year.

Data Source: Tradingview

Can Origin Protocol (OGN) stay above water?

The fact that OGN is slightly higher than its 25 and 50-day simple moving averages is a good sign. It means that it’s yet to enter the bear market. But there are worries that this may not be the same any longer. The good news is that OGN appears to have completely bottomed. 

It is 88% lower than its ATH and has trended downwards for the last week. In most cases, coins will reverse the trend once they bottom out. This reversal could come very soon for OGN. In fact, despite the 10% loss today, some analysts expect OGN to consolidate. 

The coin could easily retest $0.8 in the near term, something that will lead to gains of at least 40%. However, the key support zone to watch at the moment will be $0.34. Any drop below that price will trigger a bearish fall.

Is Origin Protocol (OGN) a good investment?

The Origin Protocol is a DeFi project that brings NFT integration as well. It also has a yielding stablecoin as part of its ecosystem, something that makes it quite unique compared to other projects. 

Although OGN has been on free fall since the end of 2021, it still has outstanding long-term potential. For this reason, you can consider it if you are looking to add more DeFi coins into your wallet.

The post Origin Protocol (OGN) maintains positive momentum indicators despite plunging 10% today appeared first on Coin Journal.

• ICP is now trading at over 98% off its all-time lows.

• With its fundamentals, the odds are that it could bounce off current prices. 

• The broader market is turning bullish a factor that could boost the price. 

Sometimes the best plays in terms of ROI aren’t necessarily the strongest fundamentally. In some cases, what matters is the price is right, then counting on the broader market to create the momentum. 

One such play at the moment is Internet Computer (ICP). Internet Computer has been on a downtrend since it launched back in 2021. When it launched, ICP was trading at over $500. Currently, ICP is trading at $15, a pale shadow of its former self. This means it is down by over 95% from its all-time highs.

Logically, it can’t go much lower than this unless it goes to zero, which is highly unlikely. In essence, now that the market is looking up again, the chances are that it can only go up from here. Considering how much value it has lost since launch, it could also be one of those that give investors the highest ROI.

Besides, ICP is not exactly a worthless cryptocurrency. While it started with a lot of momentum as a project that aimed to decentralize the internet, ICP faced allegations that it was heavily centralized, a factor that hit its image hard. However, the project has worked hard to prove that it is decentralized, and as it moves towards meeting its long-term objectives, the price could start to rise again.

ICP Set for a breakout

Source: TradingView

Internet Computer has been trading in a descending triangle for weeks now. However, selling volumes have dropped over the past week, signaling a potential breakout, especially now that the broader market is showing bullish signs again. If there is a breakout, ICP could easily test $50 in the short term.

Summary 

Internet Computer was down by over 98% from its all-time highs in 2021. While there are no guarantees that it can retest its all-time highs, the odds are that it could bounce off current prices and be among the cryptos that could give a high ROI.

The post Why Internet Computer could make risk-chasing investors rich appeared first on Coin Journal.

The Cosplay Token (COT) has been listed in two major exchanges in Japan over the last few days. This was done simultaneously. It is a big move for the token in an effort to get more visibility. Here is what we know so far:

• The COT token was listed on Zaif and the SAKURA exchange

• Both these exchanges are in Japan, one of the leading crypto and cosplay markets.

• At the time of writing, Cosplay (COT) was trading at $0.194462, up about 10%.

Data Source: Coingecko 

Cosplay Token (COT) – What to expect from the listing

In most cases, listings are always good for tokens. After all, if coins are available in some of the leading exchanges, it’s easier for potential investors to buy them. The fact that COT is getting listed in Japan is a huge plus. Japan is one of the biggest crypto and cosplay markets. 

News of the listing seems to encourage investors to buy up COT. At press time, the coin had actually gained some ground. It was trading at $0.194462, up 10% for the day. 

The listings on Zaif and SAKURA are now live. As more details on the listing hit, the coin will become widely available in the next 24 hours. We can expect to see some positive price action in the coming days. 

Should you consider Cosplay Token (COT)

The Cosplay Token (COT) is not one of the biggest crypto assets out there. In fact, it’s a niche-specific token that looks to target the $45 billion cosplay industry. 

It is however getting some traction. While we don’t expect it to make 100x in the near term, there is still some upside here for decent short-term gains. For investors willing to take a chance, buy it now.

The post Cosplay Token gets listed in two major exchanges in Japan – Here is what to expect appeared first on Coin Journal.

Total value locked is one of the most important metrics in analyzing DeFi projects, including decentralized exchanges or DEXs. In recent years, investor interest in DeFi has been quite robust. So, why does TVL actually matter?

• Total Value locked indicates investor confidence in a given project

• This metric also shows the liquidity within a DEXs

• TVL can help gauge the real value of DEX tokens.

Well, based on these factors, we decided to come up with a list of DEXs based on TVL. Now, we are not ranking tokens with the highest TVL here. We simply look at the correlation between TVL and price to see which of these tokens are undervalued. Here is the list:

Trader Joe (JOE)

Trader Joe (JOE) is one of the main DEXs on the Avalanche network. It is designed to offer cross-chain interoperability as well. According to data from Token Terminal, Trader Joe has a TVL of around 120 million.

Data Source: Tradingview

The coin on the other hand is trading at $0.8423 right now. This means that the price in relation to the TVL remains relatively low.  It suggests that Trader Joe has a lot of potentials to grow further, especially when you consider that it’s fairly new.

dYdX (DYDX)

dYdX (DYDX) is another undervalued DEXs that should be on your radar. Data from Token Terminal shows that the DEX has around $987 million in total value locked. At press time, the native DYDX token was trading at about $4.65.

Based on this, the price to TVL correlation also shows an undervalued DEX token. While this is not a guarantee that DYDX will surge in the future, it shows you the hidden potential if TVL rises.

Other DEX coins to watch in this regard include Anyswap, Serum, and even Sushiswap. But just as a reminder, TVL is just one of many metrics used to gauge the potential of an asset.

The post Top DEX tokens to consider based on Total Value Locked (TVL) alone appeared first on Coin Journal.

As with all meme coins in the market, SafeMoon (SFM) has been on a persistent downtrend in the last week or so. But it seems the coin is about to hit a trend reversal that could usher a decisive bull run. But how will it happen? We have some answers below, starting with notable highlights.

• SFM has found strong support at $0.00118 after the recent pullback.

• A trend reversal appears likely after a period of consolidation.

• At press time, SafeMoon (SFM) was trading at $0.00103041

Data Source: CoinGecko

SafeMoon (SFM) – The trend reversal to watch

The recent downtrend we have seen in most meme coins has been brutal. But after days of decline, SafeMoon (SFM) has managed to stop the bleeding. Bulls have managed to find strong support around $0.00118. In the last couple of days, SFM has consolidated around this zone, and a trend reversal appears quite imminent. 

This will easily push the coin on a decisive bull run. But how high can it rise? The upside for growth is hard to say. But looking at the chart, SFM has established a strong supply zone between $0.00165 and $0.00175. 

We expect any bullish run to pull back once that zone is hit. But despite this, SFM will still gain 40% in the rally. Besides, we have seen this price action play out before. Recently, after SFM bottomed at $0.00106, it went on to rally by nearly 30%. There is no reason why this can’t happen again.

What are the benefits of buying SafeMoon (SFM)

Not many investors are going to buy meme coins during periods of market uncertainty. But meme coins can be very good for short-term trades. 

At the moment, a short-term play that takes advantage of the 40% swing is very feasible. From a long-term point of view, SafeMoon is still decent. But you have to be prepared for the wild volatility.

The post SafeMoon (SFM) is looking at a 40% upswing – how will it happen appeared first on Coin Journal.