Kategorie: Altcoin News

• LUNA outperforms the market as it closes the week higher by over 40%.

•  LUNA gains were driven by the formation of a UST reserve worth $1 billion in BTC.

•  LUNA needs to break through key weekly resistance if the uptrend is to continue.

Terra (LUNA) is a blockchain that is used for the launch of algorithmic stable coins. It has come to dominate in this space and is now among the top DeFi platforms in terms of Total Value Locked.

Like the rest of the market, LUNA has been pretty volatile over the last couple of days but has regained upside momentum in the last 48-hours. In fact, it was one of the biggest gainers of the past week, closing higher by over 40%.

$1 Billion Bitcoin reserves boost LUNA

In the past week, the markets were hit with the news that Luna Foundation Guard (LFG) was creating a Bitcoin-denominated reserve. This will act as an extra layer of stability and security for Terra USD (UST).

LFG also announced that it had raised $1 billion that will go towards building the Bitcoin reserves. The best part about it is that the coins will be locked for 4-years. This news has led to an increase in investor confidence in UST, which in turn translates to higher demand for LUNA.

Analysts are already responding positively to the move to create a Bitcoin reserve. According to Matthew Dibb of Stack Funds, the move will lower the price fluctuations of the UST.

Should you buy Terra (LUNA)?

Source: TradingView

On February 26th, 2022, Terra (LUNA) was trading at $74.34 and was up by 13% in 24-hours.

LUNA has been on a strong uptrend since February 24th, 2022. It is currently trading just below the $77.17 weekly support level.

If buying volumes increase and LUNA pushes through the $77.17 resistance, then it could test prices above $90 before the end of February.

On the flip side, if LUNA turns bearish and breaches the $70.11, 23.6% Fibonacci support, then it could end the month below $65.

The post LUNA is outpacing Bitcoin in Gains: Is it a good time to buy? appeared first on Coin Journal.

The crypto industry has made people rich literally overnight. It’s the only market that can deliver 100x growth in just a few months and as such, a lot of people are trying to get in on the action. But what if you just have $100 to invest? Well, here are some tips:

• Focus more on microcaps that have the potential to grow further.

• Play out the volatility in the market and build more capital for long-term investing.

• Keep your expectations tempered to avoid costly mistakes.

So, with the tips above, the next thing would be to give you a full list of top crypto projects that you can consider with $100. Here they are:

UFO Gaming (UFO)

Play-to-earn blockchain games are heating up right now with the anticipation of the metaverse. Some projects like Axie Infinity have in fact gone on to grow massively in recent years. 

Data Source: Tradingview 

There is still so much potential in blockchain gaming, and UFO Gaming (UFO) offers you the perfect chance to grow your money. The coin is also a small microcap with a total market capitalization of around $270 million. It was also trading at $0.000009576 at the time of writing this post.

Telos (TLOS)

There is also a rush towards Ethereum scaling solutions. Some projects like Polygon and Solana have received so much media coverage and quite rightly so. They are all exciting. But Telos (TLOS) is also one project that should be worth watching. It offers high scalability and amazing speeds, comparable to even Solana. It has a market cap of $282 million, so there is more room to run.

WazirX (WRX)

India is seen by many crypto experts as one of the most crucial markets for the growth of crypto in the future. WazirX (WRX) is the biggest exchange in the country and could become even bigger as more Indians get into the cryptocurrency market. WRX has a market cap of $199 million, so you can imagine the potential there.

The post Investing $100 in crypto: The best tokens to consider appeared first on Coin Journal.

• XTZ price jumped more than 7% on Wednesday to break above $3.00.
• The cryptocurrency’s value could hit over $13.00 in the next two or three months if bulls hold above a critical support level.
• The gains could reach 450%, says Ali Martinez.

Tezos has traded higher in the past 24 hours, breaking above $3.00 after a 7% jump aided by a broader upside in the crypto market.

As of writing, the native XTZ token is changing hands around $3.18, having raced to an intraday high of $3.23. Looking at the XTZ/USD chart, we see the cryptocurrency has moved higher from late January support levels. 

Another surge could push the token’s price even higher, especially if bulls hold key support levels in the face of prevailing market conditions. If not, a fresh downside could push prices to new lows below $2.00.

Analyst says Tezos could rally 450% or more

The above outlook is shared by crypto analyst Ali Martinez. According to the analyst, the XTZ price on the weekly log suggests a potential 450%+ jump if bulls hold to keep prices within an ascending channel since October 2019.

“If the channel’s lower edge around $2.50 continues to hold, XTZ could rise to the pattern’s upper trendline at $13.6,” he noted on Twitter before the coins bounce above $3.00.

As outlined by the analyst, the upside to the channel’s upper boundary could mean a massive rally in the region of 458%. Has Tezos rallied this hard before?

In September 2020, Tezos‘ price fell more than 60% before a huge rally took it from lows of $1.70 to highs above $8.00. The bull market bounce from that bottom topped with XTZ price more than 430% up around April 2021.

The lower trendline that has acted as support as recently in September last year could yet offer the buffer bulls require to make another upside assault.

But if downside pressure, likely from macro factors such as the Russia-Ukraine crisis, Fed’s rate hikes, and negative crypto regulations, hits, Martinez says to expect a drop below $2.00.

“Breaking the $2.5 support can result in a correction to $1.80,” he tweeted.

Chart showing XTZ price in a rising parallel channel on the weekly timeframe. Source: Ali Martinez on Twitter.

The post Tezos price is up 7% today: Here’s why an analyst says it could jump over 450% by mid-year appeared first on Coin Journal.

Komodo (KMD) has announced that it is adding interoperability support for AtomicDEX with a host of 13 other blockchains. It’s the latest move in cross-chain integrations by Komodo (KMD). The news saw its native token surge by nearly 50%. Here are some highlights:

• The interoperability integration with AtomicDEX will now make cross-chain transactions easier.

• Komodo’s native token has jumped from lows of $0.44 to $0.6 in response to the news.

• At press time, those gains had fallen a bit and the coin was down by 7%, trading at $0.5.

Data Source: Tradingview

Komodo (KMD) – How can interoperability help it grow?

Cross-chain interoperability remains one of the most important topics in the crypto industry. The ability to conduct transactions across various blockchains remains elusive but not impossible. Komodo (KMD) is hoping to lead the charge in this regard. 

So far, the project is adding support for 13 chains. AtomicDEX remains among the very few decentralized exchanges that have excellent cross-chain support. The platform is not just compatible with the Ethereum Virtual Machine but with other projects as well, including Dogecoin. 

Also, Komodo is making a major push to bring NFTs to its ecosystem, including its own exclusive NFT collection. All these moves are designed to expand the ecosystem, and in the end, this will be reflected in the price. KMD is now trading at $0.5 and as sentiment in the market improves, expect the coin to surge further.

Is Komodo (KMD) a good buy?

Yes, Komodo (KMD) has really shown a lot of promise. The focus on cross-chain interoperability is a big move. Although there are challenges and weaknesses, there is no doubt this is the way to go for the blockchain industry.

Komodo appears to be leading the way, and as such, it is a decent investment right now. The project also has a market cap of $70 million so it can grow further.

The post Komodo (KMD) plans to offer Interoperability support for AtomicDEX – Coin surges nearly 50% appeared first on Coin Journal.

Axie Infinity (AXS) has seen some correction after surging quite impressively earlier this month. The coin has seen a 50% retracement of its price and is now looking well and truly in a bear market. But despite this, we still think there is real potential for a decent upside. Here are some highlights.

• In recent days, AXS has bounced off between $45 – $49 after a 50% price retracement.

• The coin could however pull back up to $55 in the near term.

• At press time, AXS was trading at $49, down nearly 8% over the last 24 hours.

Data Source: Tradingview 

Axie Infinity (AXS) – The outlook so far

It was largely expected that at some point, the crypto market will pull back after surging in February. But much of the slump we are seeing right now has largely been triggered by geopolitical tensions in Europe. 

Axie (AXS) has as a result, seen a 50% retracement from its early February highs. At the moment, the price action has been bouncing off between $45 and $48. We don’t think this will remain the case for long. In fact, we expect the coin to test its overhead resistance of $55 in the coming days.

This will represent an upswing of around 15% or thereabout. While we don’t see AXS reclaiming its February high of $72, bulls will try to consolidate above $55 before the next leg up.

Why you should put Axie Infinity (AXS) on your watchlist

Metaverse and blockchain gaming tokens delivered insane growth last year, Axie Infinity included. While most of these tokens have slowed this year as the broader market continues to struggle, the metaverse is one of the most exciting areas of the crypto-verse.

Besides, it’s just recently when AXS was trading at over $200. It’s not inconceivable that the coin may get there again.

The post Axie Infinity (AXS) could bounce back by about 15% despite recent selling pressure appeared first on Coin Journal.