Kategorie: Altcoin News

The Sandbox (SAND) has remained down for the best part of two weeks. Although there are some cases where the coin showed some bullish signs, most rallies have been “fakeouts”. But there is a real possibility that SAND could in fact rally further over the coming days. Here are some notable highlights:

• Any SAND breakout will need to be accompanied by high trade volumes

• The coin could realistically hit $2.6 in a decisive run

• However, there will be many volatile moments in between

Data Source: TradingView 

The Sandbox and its road to $2.6

It was just a few weeks ago when SAND was trading at well above $5. The coin has however seen a major sell-off as investors intentionally stay away from metaverse coins. But this downside has presented the perfect dip for long-term SAND buyers.

The coin has already bottomed, and it has a real chance of surging past $2.6 in the near term. But this will not be easy. In fact, for SAND to hit $2.6, it will need to surge by a whopping 100%. Under current market conditions, this may appear quite unlikely.

However, if we start to see increased trade volume on SAND, then a decisive run towards $2.6 will no longer be a pipe dream. It is likely that SAND will undergo a period of volatility before it touches $2.6. There will be bull runs and corrections in between. But eventually, with increased volume, $2.6 will happen in a few weeks.

Why should you buy SAND now?

The Sandbox is no doubt one of the most recognizable metaverse projects. Yes, it has dipped severely in 2022, but its underlying fundamentals still remain very robust. 

SAND will likely end the year in double digits. Buying at the current price of $1.3 is, therefore, a big discount.

The post High Volume Breakout could see sandbox hit $2.6 appeared first on CoinJournal.

While both are primed for a huge bounce back, APE has better odds

Key Points:

• ApeCoin is the leading Metaverse cryptocurrency today. However, its price is heavily depressed due to the crypto bear market. 

• Decentraland is one of the older Metaverse cryptocurrencies. While demand is growing, the market correction has affected it negatively.

• While MANA and APE are likely to do well once the market rebounds, ApeCoin’s hype advantage could see it outperform MANA. 

ApeCoin (APE)

ApeCoin is the utility token for the entire APE ecosystem, including the highly popular Bored Ape Yacht Club NFTs. ApeCoin was one of the most popular cryptocurrencies in March/April 2022. In March, the hype was driven by the launch excitement. ApeCoin then gained accelerated momentum in April following the launch of the Otherside Metaverse. While the broader market correction has weighed down on APE for the better part of May, the level of community activity within the Ape ecosystem continues to grow. This means APE has a bright future once the markets turn bullish again. 

Decentraland (MANA)

Decentraland is a popular Metaverse cryptocurrency and has been around since 2017. Over the last two years, there has been a sharp increase in demand for its Metaverse lands by retail players and institutional investors. It is an indicator that as the Metaverse gains traction, Decentraland will have a significant role to play in it, a factor that could help drive up the value of MANA tokens long-term. 

Which one is a better buy?

Both ApeCoin and Decentraland are good buys, especially now that the cryptocurrency market is heavily depressed. As the largest Metaverse cryptocurrencies in the market today, the odds favor their bounce back once bulls return.

However, in terms of comparative gains, the odds tend to favor ApeCoin both in the short term and long term. This is all thanks to its association with the Bored Ape Yacht Club, the hottest line of NFTs in the market today. Besides the hype around Bored Ape NFTs, the Ape ecosystem has grown fast in a very short amount of time. For instance, it only took less than two months after the ApeCoin launch for the Otherside Metaverse to launch. Many other milestones are underway, all of which could play positively into APE’s price action in the future.

Conclusion

Both ApeCoin and Decentraland are high-potential Metaverse cryptocurrencies to buy today. Once the crypto market turns bullish again, these two have the potential to make a strong rebound. However, in terms of comparative gains, ApeCoin has hype strongly in its favor. Since hype plays a critical role in the cryptocurrency market, there is every reason to believe that ApeCoin will beat Decentraland in gains.

The post ApeCoin v Decentraland – Which one is a better buy? appeared first on CoinJournal.

DeFi has stagnated somewhat for most of 2022. Even though most projects in this area have shown a lot of promise, the price action for most DeFi coins remains very suppressed. This is of course a gloomy sign, but it also means that there are more opportunities for investors to take advantage of. Here is how:

• Despite the slowed outlook in 2022, DeFi projects can still offer decent returns this year.

• The slowed sentiment also suggests that coins have become significantly undervalued.

• There is huge application potential for DeFi projects in the future

Now, finding a nice bargain in DeFi can often be confusing for the average investor. But here are 3 coins that should be ideal as a start.

Uniswap (UNI)

Uniswap (UNI) is a decentralised exchange that runs on the Ethereum network. It has in fact grown over the years to become one of the biggest DEX in the world. Also, over the last few weeks, the DEX has seen important growth milestones.

Data Source: TradingView 

For example, Uniswap crossed $1 trillion in trade volume the other day. Unique monthly users have also risen sharply. However, UNI is still trading very low. This undervalued nature means the coin can shoot up once sentiment in the market gets better.

Nexo (NEXO)

Founded in 2018, Nexo is a decentralised lending protocol that focuses on offering loans to those who need them. The platform has seen sharp increases in total loan volumes and is set to become one of the largest lending protocols in terms of market cap. The project still has a lot to deliver this year, so it should be a good buy.

BenQi (QI)

BenQi (QI) is also a lending protocol. It is one of the biggest DeFi projects on the Avalanche network. Since its inception, the project has attracted a lot of investments and continues to work on ways to improve its ecosystem.

The post Three DeFi coins to buy by the end of May appeared first on CoinJournal.

There is a lot of hype and talk about the metaverse and what it can bring to human interaction. Also, in the last few months, we have seen massive surges in metaverse investments. There is no doubt this is an industry that has so much to offer in the long term. Here is why:

• The metaverse is offering new frontiers for content creators to reach new audiences.

• The immersive experience offered by this virtual world will have so many applications.

• Billions of dollars in institutional money are already flowing into metaverse projects.

Despite all these factors, finding decent metaverse investments that are truly worth your money is hard. But the three coins below should be a great start:

Ceek (CEEK)

Ceek is a robust metaverse platform designed for music and other live shows. The initial goal is to provide a platform for immersive virtual concerts and live music events. However, the project has been expanding its offerings in order to accommodate other types of creators.

Data Source: TradingView

There is a plan to bring in live sports and other acts as well. CEEK has already rolled out several virtual real estate on its platform, including virtual concert halls. It has also partnered with several major artists, including Lady Gaga and others.

Dreams Quest Origins

Dreams Quest Origins is an upcoming metaverse play-to-earn game set in a mystical virtual universe. The project is still under development but has so far released various teaser videos that suggest it has all the potential to be huge. The gameplay looks vivid, and the project already has big-name investors too.

DeFi Kingdoms (JEWEL)

DeFi Kingdoms is a fully integrated metaverse that includes both P2E gaming and decentralised finance as well. The game is relatively new but has been getting a lot of fans. The market cap is still low, so the chances of an epic rise are very high.

The post Top 3 metaverse coins to put in your portfolio appeared first on CoinJournal.

Apecoin (APE) has been showing strong bearish signs over the past week. The coin is now in steep decline as broader weakness in the market takes its toll. But how far can it actually fall? More on this below but first, here are some highlights:

• APE has recorded 3 straight days of losses as bears take full control

• The coin will likely bottom at $5 in this bearish cycle

• This thesis will become invalided if bulls can push the price action above $7 

Data Source: TradingView 

Apecoin’s trajectory and why $5 matters

When Apecoin launched a few weeks ago, the coin simply went to the moon. At one point, it was even trading at around $25. But the expected correction soon followed. APE fell sharply, and in the whole of May, it has struggled to rise above $10. This weakness is set to continue as we end the month. 

APE has in fact closed in the red over the last three trading sessions. It was around 7% down in intraday trading today too. We expect this bearish trajectory to continue and eventually settle at $5. However, there is still some risk that APE could lose $5 if sentiment in the market becomes more bearish in the near term. 

If this happens, we could see a decisive drop towards $2. But bulls can still save APE from this downtrend if they manage to push the price above $7 before the close of trading today.

The long term outlook for APE

We do not think Apecoin will return to its $25 highs anytime soon. In fact, most estimates show that the coin will likely settle at around $15 this year. But before this happens, Ape investors will need to deal with potentially devastating downtrends. 

In fact, the possibility of this coin bottoming at $2 is high. However, this also means that opportunities to buy for long term investors will present themselves.

The post Apecoin (APE) to bottom at $5 as weakness continues appeared first on CoinJournal.