Kategorie: Altcoin News

Subnets have made Avalanche infinitely scalable, and adoption is gaining traction.

Key points:

• Avalanche is deep in the bear market and is down by over 80% from its most recent all-time highs.

• Avalanche has launched subnets, making it a highly scalable blockchain, perfect for any kind of Dapps.

• Adoption of Avalanche subnets is already on the rise in DeFi and Gaming.

Avalanche (AVAX) like the rest of the market, is still deep in the bear market. However, when you look beyond the price, a lot is going on within the Avalanche ecosystem that could see it outperforming many cryptocurrencies once the bull market returns. One of the key factors likely to drive Avalanche adoption is its positioning for the fast-growing Web 3.0 market. Web 3 apps are coming up fast and growing at an unprecedented rate. However, scale is a challenge as most major platform blockchains can’t handle the increased load.

Avalanche is looking to solve this problem with subnets. Subnets are application-specific blockchains that run within the Avalanche ecosystem. Through subnets, developers choose validators, the virtual machine to use, and even the token that will pay fees. All this, while still relying on the Avalanche security and speed at the base level.

This opens up the door for infinite scalability, and adoption is already rising. For instance, there has been an upsurge of subnets adoption in everything from DeFi to gaming. Institutions are also adopting Avalanche subnets to develop highly customized applications that are secure and scalable.

Is Avalanche a good cryptocurrency to buy today?

With the launch of subnets, Avalanche is likely to see an upsurge in adoption going into the future. Thanks to its scalability, Avalanche is already known as one of the best blockchains for launching Dapps. In essence, now that it is taking both scalability and security a notch higher, adoption will only rise. By extension, this means good prospects for AVAX, the token that governs the Avalanche ecosystem.

Even with all these developments, AVAX is trading at a massive discount. From highs of $146.22, AVAX is currently trading at $24.66, a drop of 83%. Once the market rebounds and AVAX gains momentum, even retesting its all-time highs would give investors a massive return on investment.

Conclusion

Despite the price drop across the crypto market, Avalanche fundamentals are getting better. The launch of subnets has made Avalanche more scalable than ever before and highly attractive for launching all kinds of Dapps. Adoption is already on the rise, especially in gaming, further giving AVAX high prospects for value appreciation long-term.

The post Best cryptocurrency to buy – Will subnets take AVAX to the moon? appeared first on CoinJournal.

GALA appears to have been on a three-week price consolidation phase. The coin has shown great resilience during this period, and it may be poised for a very decisive bull run. However, this is a long entry position that requires a bit of patience. Here are the highlights to keep in mind:

• GALA’s consolidation has kept bear pressure off despite market headwinds

• The coin could break and swing by 54% in the green

• However, this will likely take a few weeks to materialize

Data Source: TradingView 

GALA: The long play for 50% returns

One thing we have learned about GALA over the past month is just how resilient it can be. Gaming and metaverse coins have not had a good year. But after falling sharply, GALA has managed to recover and has maintained a three-week price consolidation phase. The coin is now facing a decisive breakout, and here is why. 

First, all technical indicators appear to suggest a bull run is on the cards. The RSI reading is in the bullish territory while the price action remains above the 20- and 50-day EMAs. Also, sentiment in the market is now turning positive.

If these conditions hold over the coming weeks, GALA has the potential to swing up by a whopping 54%. This surge will also push the coin above the crucial psychological zone of $0.12. Besides, GALA remains above several support zones, so downside risks are very minimal right now.

How to enter this GALA setup?

As noted above, the bullish GALA setup is long-term. In fact, we expect some volatility in between as the coin tries to surge to $0.12.

So, if you want to enter this setup, you must take a long position. Some of these gains could be realized in a month or so. It requires patience and trading discipline.

The post This bullish GALA setup could trigger a 54% upswing appeared first on CoinJournal.

Arweave has seen gains in three straight trading sessions. The coin is looking up and could reclaim the important $15 support. But will this trigger a major bull run, and how far can AR actually go? The detailed analysis is below but first, key highlights:

• AR has seen a modest bull run in the last 7 days.

• The coin is up by around 20% as sentiment in crypto improves.

• Arweave could test $18 in the coming days if this trend holds.

Data Source: TradingView

Arweave price analysis: The Short term setup

The crypto market has been very volatile for the better part of 2022. Every time we think we are about to see a decisive turn, prices just crash once more. June has started quite well for most coins. In fact, the overall market cap for the entire industry has gone up by around 20%. 

Arweave appears to be following this broader trend in the market. It is likely the coin will continue rising in fact, once the $15 resistance is breached, AR could target $18 next in a short-term burst of bullish activity. This will represent a 25% gain from the current price. 

The big challenge however for AR bulls will be to keep the momentum going. As we have seen before, most bullish runs in crypto this year have often been pushed by dip buyers. At some point, these short-term traders will cash out. We believe for AR; the cash-out price is $18. So, once the coin starts to get close to that threshold, expect it to pull back to around $13.

Should you buy Arweave?

AR offers a very decent short-term play. Once it crosses $15, there could be a buying opportunity with an exit price of $18. 

Also, from a longer-term point of view, AR is heavily discounted right now. The coin has the required fundamentals to offer double-digit returns in the coming 6 months.

The post Arweave could reclaim $15 support – Should you buy? appeared first on CoinJournal.

When Terra rebranded into Terra Classic, there was a bit of fun fare. But investors did not really buy into the idea. As a result, Terra 2.0 plummeted shortly after launching. The coin has lost 85% from its airdrop price. But there is an opportunity for LUNA to actually deliver astonishing short-term gains. Here are the highlights.

• After massive volatility, LUNA appears to have established strong support at $3.5.

• The coin has also established a trading range between $3.5 and $10.25.

• We expect this range to come into play over the coming weeks.

Data Source: TradingView

How LUNA could deliver 4x growth

Our thesis on LUNA’s short-term bullish setup is based on the range mentioned above. You see, despite facing massive volatility, the coin has established a consistent range between $3.5 and $10. Also, $3.5 is now the strongest support zone, and despite massive selling pressure, LUNA has managed to keep the price above this. 

A consolidation phase is now happening, and in the coming days, LUNA could easily retrace its $3.5 to $10.25 range. This will deliver gains of nearly 3x from the current price. However, we don’t think $10.25 will be the end of everything. 

If LUNA is able to get to double digits within a short time, it could trigger immense demand that could deliver more returns. Besides, there is a very limited downside risk to this setup. Even if LUNA loses the $3.5 support, we expect it to jump right back up in no time.

LUNA’s long-term prospects?

The volatility around LUNA is not going to abate soon. However, we expect the price to be a bit more predictable within the $3.5 and $10.25 range. 

LUNA will likely remain within this range for a few months before it finds any serious upward momentum. The good news however is that downside risk appears to have eased a bit.

The post These Indicators show LUNA could grow 4x in the near term appeared first on CoinJournal.

A combination of a strong use case, low prices, and world cup sponsorship push up CRO’s growth potential

Key points:

• Cronos is one of the few cryptocurrencies that have actual adoption, thanks to the Crypto.com wallet.

• Cronos will get instant visibility to millions of people globally by sponsoring the upcoming FIFA World Cup in November 2022.

• Cronos is currently trading at massive lows, creating an opportunity for long-term investors.

The cryptocurrency market is heavily bearish at the moment. The worst part is that with a top 10 cryptocurrency like Terra going to zero, it can be hard to tell what altcoins to buy and hold long term. While no one can tell what the future holds, the odds are that cryptocurrencies that have actual adoption stand a chance of doing well going into the future. That’s where Cronos comes into the picture.

Cronos (CRO) is one of the few cryptocurrencies with actual usage. Cronos’ best asset is the Crypto.com wallet, heavily adopted by cryptocurrency users globally. They can use it to store crypto, make everyday payments, and even trade crypto. With the adoption of Crypto.com ever going up, the value of CRO, the native token of the Cronos blockchain, stands to go up as well.

Is Cronos a good buy today?

Like the rest of the cryptocurrency market, Cronos has tanked in 2022. However, since the market is cyclic and bull markets follow bear markets, the bear market is a perfect opportunity to invest in Cronos.

Thanks to its strong use case and growing adoption, the odds are that Cronos will do well in the years and even possibly months to come. Besides, Cronos has some push factors to it in 2022 that many cryptos do not have. The FIFA World Cup is coming in November 2022, and Cronos will be among the official sponsors. This means before the end of the year, Cronos will have a level of global publicity that other cryptocurrency projects can only dream of.

If the broader cryptocurrency market is bullish at the time, this is an event that could easily trigger FOMO in Cronos and see it test price levels it has never tested before.

The post Why Cronos (CRO) could be the best crypto bet in 2022 appeared first on CoinJournal.