Kategorie: Altcoin News

The overall crypto market is now reporting a major decline. Many analysts see a combination of factors at play including rising Fears of recession, tightening monetary policy, and run-away inflation. The downtrend will also continue for a few more weeks before we see some trend reversal. Here are some of the main bear market facts in crypto.

• Bitcoin and Ethereum, two of the biggest coins, have all reported over 35% declines in 7 days.

• Overall market cap in crypto has fallen below $1 trillion.

• BTC also dropped below $20,000 for the first time since 2020.

So, with all this doom and gloom, it can be hard to find coins that are actually performing. No worries because the ones below are doing quite well:

UNUS SED LEO (LEO)

The LEO token has somewhat defied the odds. The coin has seen major gains over the past weeks in fact, it’s only 40% down from its all-time highs. 

Data Source: TradingView 

Compare this to other coins that are so far 80 – 90% lower from their ATHs. Also, LEO saw a gain of 16% over the past 24 hours. The coin has by far outperformed all major coins and could maintain this trajectory over the next week or so.

Flex (FLEX)

With a market cap of around $360 million, Flex is not one of the largest crypto assets out there. But the coin has done quite well over the last week. The coin is typically used to pay for fees on the Coinflex exchange. As of now, FLEX is around 35% from its ATH. It has also seen a modest 2% gain over the past 24 hours as most coins see red.

KuCoin (KCS)

KCS is another exchange token that has also seen some decent uptrend. Although KCS is around 60% from its all-time high, it has still outperformed the market modestly. Nonetheless, KCS saw a drop of 10% over the last 24 hours or so.

The post These coins are performing relatively well despite the bear market appeared first on CoinJournal.

Waves has been a delightful surprise in crypto over the past six months. The coin has seen rally after rally albeit it has pulled back several times. However, over the last two weeks, the coin has seen a major sell-off, pushing closer to its May lows in the process. But could Waves plot a decisive comeback? Here are some important points:

• Waves peaked at around $11.5 at the start of June after a major bull run

• The coin has however retreated sharply and is now trading at around $5

• However, Waves is now within a decent demand zone

Data Source: TradingView 

How retesting major support helps Waves

As noted above, the sharp fall we have seen for Waves has pushed it towards major support of around $4.21. In fact, despite the massive sell-off we saw in crypto over the past week, the coin managed to hold this support level. With this in mind, we may now start to see some potential accumulation around this price. 

This will then trigger a trend reversal and push Waves further up in the near term. Also, looking at the momentum indicators, the coin has now gone towards the oversold threshold. This could suggest that the risk of a major decline is relatively lower.

It is likely that Waves will follow the trend in the broader crypto market for the week. After that, the coin may start to find its own directional momentum and could easily outperform major coins as it has over the past 6 months.

Should you buy Waves

One thing we have learned about waves over the last few months is that its highly volatile. So, it may be a good bet for short-term trades. For now, just watch the accumulation around the $4.23 support. 

If this continues for several days, it could mean that Waves is about to break out. Buy in and exit at around $7 to avoid major risk.

The post Waves plots major comeback after facing selling pressure appeared first on CoinJournal.

Play to earn or P2E is seen as one of the most promising sectors in crypto. After all, some projects have seen massive success in this area, including the popular Axie Infinity. But one game that is trying to take over the P2E space is Star Atlas. The metaverse game has seen major milestones over the past few months. Here are some of them:

• Massive community growth with over 350,000 followers on Twitter

• The game is built on Solana, offering better speeds and scalability

• It has hundreds of thousands of active players each day

Data Source: TradingView 

Star Atlas – Should you buy it?

Before we get to the economics of Start Atlas, it is important to note that the metaverse offers a dual token economy. The governance token is called the POLIS. Now, as an investor, you would normally purchase the governance token since it gives you a lot of leverage over the game. 

So, the more the game grows, the more valuable the POLIS token becomes. This token has a fully diluted market cap of around $138 million. This is still modest and offers quite some potential for more expansion. 

The second coin is the in-game utility token called ATLAS. This one would be ideal for people who want to actually play the game. The market cap for ATLAS is around $219 million.

Why buy Star Atlas?

The potential growth that Star Atlas offers is quite incredible. In fact, just recently, JP Morgan has come out with a report that predicts the metaverse would be worth $13 trillion by 2030. Start Atlas is one of the projects leading this revolution, and it could help you unlock a huge chunk of that industry.

The game dynamics and in-game economy of the Star Atlas metaverse are very sustainable. This ensures the game can run on its own without further injections of capital.

The post Star Atlas wants to revolutionize P2E gaming – Should you buy appeared first on CoinJournal.

Virtual reality is going to transform human interaction over the coming years. All the biggest tech companies out there are investing in the metaverse, and the future looks quite bright. But there are some projects that already have so much potential, and High Street is one of them. Here is why:

• The project has been growing fast with an oversold IHO

• High Street has also reported massive social media engagement in recent weeks

• The platform is creating a retailed-focused metaverse that could offer incredible utility

Data Source: TradingView

Why you should buy High Street

There are many metaverse projects right now, and each claim to offer something different from the other. But there is just something about High Street that appears very promising. First, the projects want to create a highly integrated metaverse. Think of it as a city in virtual reality.

So far, the plan is to build homes, retail spaces, and other virtual amenities. The buy-in for the project has also been quite impressive. In fact, the Initial Home Offering or IHO for High Street Solarium homes was oversubscribed. Over $9 million was spent on these homes. This shows you that many people are getting into this.

Also, we are talking about a very small project so far. HIGH, its native token, has a market cap of $15 million. Keep in mind that nearly half of all the goals in its roadmap are still not yet achieved. This opens up the project to massive growth potential.

What is High Street’s future?

In essence, High Street wants to be a virtual city. There will be additional gaming and social elements included in the future but at the center of this project is the idea of bringing retail to the metaverse.

So far, there are very few other projects doing this with the success that High Street is seeing. It is a project truly worth looking at.

The post High Street metaverse: Why you should consider buying appeared first on CoinJournal.

The crypto market has stabilized after two days of massive sell-offs. This comes as the US Fed made a serious commitment to deal with inflation with aggressive monetary policy. Tron (TRX) has been one of the best-performing coins in this recovery, with a 25% upswing over the last week. But is this real momentum or just another dead cat bounce? Here is what you need to know:

• TRX showed incredible resilience even as the market crashes

• The coin is now above a crucial $0.05 support and could stay there for days

• With momentum picking up in the market, TRX could hit $0.09.

Data Source: TradingView

How long can TRX maintain the uptrend?

Well, there are many factors at play in crypto right now. The Fed’s aggressive move to deal with inflation is a good sign. But there are still many underlying economic factors that could make any rally short-lived. 

For instance, there is a real prospect that a major recession in the US could come later this year. So, for TRX, the uptrend will have to deal with these possible risks. If momentum in crypto slows, then it will be hard for TRX to maintain growth. 

We don’t think there is enough confidence in the market for a sustained bull run in crypto right now. As such, TRX will see a dead cat bounce rally over the coming week before it retreats again. But if it can stay above the $0.05, the possibility of a major downside is limited.

TRX’s short-term trading play

The best way to invest in a risk-averse market is to pick a short-term position. TRX offers a good play in this. 

First, if the coin stays above $0.05, it could provide a decent entry point for bulls. A short-term rally will likely push TRX toward $0.09. This will be the ideal time to exit and cash out.

The post Tron surges by nearly 25% – Dead cat bounce or real momentum? appeared first on CoinJournal.