Kategorie: Altcoin News

Terra (LUNA) is now the most staked cryptocurrency in the market. The coin has overtaken Ethereum and is expected to continue holding this title in the foreseeable future. As expected, the reaction from investors was immediate. Here are the highlights:

• At press time, Terra (LUNA) had jumped 20% in intraday trading in response to the news.

• Staked assets on Terra are now worth $29.5 billion with over 226,000 stakers as well.

• The coin has smashed a key resistance of $90 support and could turn bullish in the coming days.

Data Source: Tradingview 

Terra (LUNA) – How the bull run could play out?

The market in general has rebounded the last few days with most coins posting gains. But Terra (LUNA) is really on full steam. The coin has surged by over 20% in the last 24 hours, trading at around $98. 

More importantly, Luna has now broken above a key overhead resistance of $90. This could suggest that a bull run is possible in the near term. Much of these recent gains were triggered by news that indeed Terra (LUNA) is now the most staked asset in crypto. This title was held by Ethereum. 

The key right now is to watch how long the coin can stay above $97. If this happens, LUNA could easily surge to new all-time highs of $112 and even above $120 in the weeks ahead.

Is Terra (LUNA) a good buy?

Well, every investor would love to own the most staked coin in the market. LUNA has become one of the most important assets in crypto, and it’s definitely highly recommended. 

For the long-term investor, just buy it now and hold for a year or so. But for short-term speculators, an upward rally is very likely for LUNA. A good entry will be below $100 but exit at $112 or thereabout.

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After hitting all-time highs in November last year, Solana (SOL) has really been under massive pressure. The coin is now approaching its last support. If that level is breached, then we could be looking at a massive sell-off. Here are some highlights:

• The $80 support level remains the most important for Solana (SOL) right now,

• If the altcoin falls below this, we could see a fall towards $50 before the next leg up.

• At press time, Solana (SOL) was trading at $88, up around 4% for the day.

Data Source: Tradingview 

Solana (SOL) – The selloff risk

The recent rally in the crypto market has seen Solana (SOL) put some distance between the crucial support zone of $80. But there is still a huge sell of risk right now. How long the altcoin is able to keep the price action above $80 remains to be seen. 

However, if bears can put enough pressure to drop SOL below $80, then it is likely that the coin will plummet towards $50 in the near term. This will represent a nearly 40% wipeout. But what can bulls do? 

Well, the key is to get SOL above $102. This will put the altcoin above several key resistance zones before the $80 mark. While this may happen, it seems highly unlikely given the massive volatility we have seen in the market.

Should you stay clear of Solana (SOL)?

Well, as long as the sell-off risks remain, there is no need to get into SOL just yet. For long-term investors, it would be advisable to watch how the price action plays out. 

If we fall below $80, then give it a few days or weeks, and SOL will be selling at a massive discount. But if bulls can get it above $100, buy it then.

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• Sandbox has a grant program that empowers creators to populate its Metaverse.

• World of Women is the latest beneficiary of a $25 million grant to support women creators.

• Price is yet to move, but a consolidation points to a potential breakout. 

Sandbox (SAND) has emerged as one of the most prominent players in the fast-growing play-to-earn gaming space. Through the Sandbox Metaverse, players develop gaming characters and sell them as NFTs. 

Besides gaming, Sandbox is expanding into other markets to see SAND grow in value. For instance, a while back, the Sandbox entered into a partnership with Warner Music to host virtual shows on the Metaverse. 

Sandbox also has a program to fund creative ideas that can help grow the Metaverse. Sandbox has leveraged World Women’s day to announce the latest recipient of this grant. 

Sandbox grants women techies a $25 million grant 

As part of the World Women’s day celebrations, Sandbox announced that it was granting $25 million to World of Women to support women minting NFTs and developing the Metaverse. 

World of Women is a foundation created by female gamers and artists to promote diversity within the gaming industry through interactive experiences. The WoW Foundation plans on using Sandbox for four main pillars:

• Giving artists a platform.

• Helping new users understand the Metaverse.

• Communicating with others on courses that are focused on women.

• Charity.

For Sandbox, this is a big deal both from a technical perspective and marketing. From a technical perspective, WoW will help create an even richer Sandbox Metaverse, and that, like the other projects running on Sandbox, will help drive up the intrinsic value of the SAND token. 

From a marketing perspective, WoW’s vast network of users and participants beyond crypto will help draw more investors into the Sandbox Metaverse. The impact could be a bigger price rally once the market turns bullish again and FOMO returns. 

SAND is range-bound and could potentially breakout

Source: TradingView

SAND is currently trading in a range, and volumes are pretty low. If buying volumes increase and the $2.856 resistance is broken, prices above $3 could be tested in the short term. 

However, if bearish volumes increase and SAND breaks through the $2.79 support, prices below $2.5 could be tested in the short term. 

Summary

Sandbox continues to expand its grant program and has given World of Women $25 million to support women NFT and Metaverse creators. However, the price is yet to respond, but SAND is consolidating. 

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OKB (OKB), the native token of the OKEX exchange, has seen a decent surge in price after the platform announced a sponsorship deal with English football champions Manchester City. The deal, which is said to be worth millions of dollars, is expected to last several years. Here is what we know:

• OKEX promotional materials will appear on men and women Man City teams.

• OKB surged shortly after the news but has lost some of those gains.

• The coin was trading at around $17.59 at press time.

Data Source: Tradingview.com

OKB (OKB) – What does the Manchester City deal mean

Over the last few months, global crypto exchanges have been stepping up their partnership with sports entities. Crypto.com made headlines with a slew of partnerships with major US franchises, and Coinbase was the first exchange to air an ad during the Superbowl. 

OKEX is also following the same moves in a bid to bring in more users to the platform. This can only be good news for the OKB token. However, despite the small surge in response to this news, we still expect OKB to remain very volatile. 

In fact, even after surging shortly after the news, OKB fell sharply once more and was trading at $17.59. But the deal with Manchester City is a big deal. It will bring a lot of visibility and brand recognition for OKX.

Should you buy OKB?

Well, exchange tokens are often not the most popular investment option for crypto investors. But in case you are looking for a token that offers real utility, then OKB is a great option. 

Besides, OKEX is now one of the biggest exchanges in the world. As the platform continues to get strong visibility with deals like the Man City one, OKB will grow further. Therefore, it is something truly worth buying, especially right now that it has dipped significantly.

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As most coins struggled this week to put up any decent upward momentum, WAVES was quite literally making waves. The coin, in fact, saw staggering gains of about 100% after the new Binance announcement. But so far, WAVES has somewhat retreated. Here is what we know thus far:

• Binance announced that it would start accepting WAVES as collateral on its loans.

• The coin surged nearly 100% to hit highs of around $20.5.

• WAVES has since retreated slightly and is now trading at around $18.

Data Source: Tradingview 

WAVES Price action and analysis

The Binance news was quite frankly a big one, and it showed in the pricing. Even as the broader crypto market slowed in performance, WAVES reported staggering gains. However, we have seen the price retreat from $20.5 to $18. We expect this to continue before WAVES stabilizes around the $15 mark.

But there are some risks to keep in mind. The rally this week has put WAVES on a risky death cross. This is when the long-term moving average of a crypto coin goes above the short-term average. The death cross creates a high risk of a significant pullback in the price. 

In fact, the last time WAVES entered a death cross was in 2018, and the coin crashed by nearly 85%. Now, we are not saying this will happen. But a more significant pullback on the coin will come, no doubt.

Is WAVES good for long-term investing?

The answer is yes. WAVES is associated with the Waves Protocol, a decentralized open-source platform designed for the creation and deployment of scalable apps. 

The project has raised a lot of money from investors and is making very serious moves on the metaverse. All these things will go a long way in delivering value for the long-term holders of this asset.

Want to learn how to safely invest in WAVES? Check out our comprehensive WAVES buying guide here or purchase from our recommended platform below!

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