Kategorie: Altcoin News

The crypto industry has been diversifying quite a bit in recent years. Play-to-earn and NFTs are perhaps two areas that are providing much-needed excitement in the industry. For this reason, most investors are keen to unlock value in these two areas. Here is why P2E is popular:

• Play-to-Earn is a relatively new area with exemplary potential

• Several P2E projects have already delivered huge returns for investors

• The play-to-earn sector is largely intertwined with the growing NFT craze.

Being a new industry, undervalued projects in P2E are quite diverse. We decided to create a top 3 list below to give you some investment ideas:

Kara Star (KARA)

Kara Star (KARA) is a play-to-earn game that also comes with metaverse components. There are two key aspects of the game. The first is the Kara. These are NFT-based pets in the game. 

Data Source: Tradingview 

There is also virtual land. This is where the Kara lives. The goal for players is to grow their Kara and battle it out with other users for rewards. KARA is already listed in Kucoin and Binance.

Crypto Golf Impact 

As the name suggests, Crypto Golf Impact is the first mobile-based play-to-earn golf game. It is relatively new, having launched early this month. The game allows users to earn major rewards by competing in major tournaments. It also offers a very real-life gaming universe. The game has the potential to become a big hit this year.

Aqua Farm

Aqua Farm is an upcoming role-playing P2E game built on the Polygon network. The game is expected to launch later this month. The adventure-filled game is designed to deliver a truly immersive experience and comes fully integrated with an NFT marketplace. If you are looking for real upside potential, this would be a great game to keep on your watchlist.

The post Top undervalued coins in play-to-earn that you should watch in 2022 appeared first on Coin Journal.

Before the UST de-pegging and the eventual collapse of Terra (LUNA), the Anchor Protocol (ANC) was one of the biggest DeFi platforms in crypto. But the project was heavily exposed to UST, and the de-pegging had a massive impact on its value. But will ANC ever recover?

• ANC lost nearly 1000% in value shortly after the UST de-pegging

• At one point, the coin fell from highs of $2.13 to as low as $0.08.

• The road to recovery will be difficult but not impossible.

Data Source: TradingView 

How will Anchor Protocol (ANC) recover?

It will take some time before ANC recovers. This recovery will depend on two things. First, how fast the Terra chain is able to resolve the LUNA collapse will be crucial. Secondly, returning UST to its peg will have a huge impact on lifting ANC in the long term. 

Besides, ANC has already shown it has what it takes to come back. For example, shortly after UST was de-pegged from the dollar, ANC literally collapsed. It looked like it was going to zero. But we saw an instant reversal, with ANC rallying by nearly 1500% from its lows. This is a sign that investors are still confident about the protocol. 

Despite this rally, Total Value locked on Anchor has not really improved. After the UST crash, Anchor’s TVL dropped to $307 million. Before this, Anchor was ranked 4th in terms of TVL. The crash pushed it to 60th. We have not seen any improvements in TVL. This could hamper any hopes of recovery.

Should you buy Anchor now?

There are still many unknowns with regard to the Anchor Protocol. For example, despite efforts by the Terra community to defend the UST peg, the stablecoin has continued to fall apart. 

It doesn’t seem the issue will be resolved soon. As such, just steer clear of ANC for now until further developments on LUNA and UST are announced.

The post Anchor Protocol (ANC) wrecked by Terra’s crash – Is there hope for recovery? appeared first on Coin Journal.

The crypto market saw one of its worse crashes in 2022 this week. The market has recovered slightly from these lows, with Bitcoin regaining $30,000 over the last few days. But why was this crash so devastating? Here are some reasons:

• The crash happened after months of negative sentiment in crypto.

• Economic and geopolitical conditions in the world are not investor friendly right now.

• Crypto was in general due for a correction after a superb performance in 2021.

Despite this, there were a few coins in the market that crashed more than others. While Terra (LUNA) led the way in terms of decline, the following 3 coins were also hit hard.

Avalanche (AVAX)

Avalanche (AVAX) had earlier seen some good upward gains and even threatened to stake its claim among 10 of the most valuable crypto assets. But the crash this week took a huge toll on the altcoin. 

Data Source: Tradingview 

Compared to 7 days ago, AVAX has lost over 45% of its value. Besides, even though the market has generally recovered, AVAX remains slower than most major coins. It seems investors are not buying it with the same veracity they used to.

PancakeSwap (CAKE)

PancakeSwap (CAKE) was also another coin that fell sharply during this week’s crash. However, it is important to note that before the crash, CAKE had in fact rallied significantly. The 45% drop we saw was largely part of a correction that most investors were already expecting. Either way, it was still a huge fall.

ThorChain (RUNE)

ThorChain (RUNE) is yet to fully recover from this week’s crash. The coin has in fact continued to report losses despite the overall recovery in the market. RUNE had lost nearly 50% of its value over the last seven days. Whether it will bounce back anytime soon remains to be seen. But at the moment, it seems buyer demand for RUNE is very low.

The post The crypto crash: Top 3 coins that were dumped by investors this week appeared first on Coin Journal.

Decentraland (MANA) has reported some of the most breathtaking gains in crypto over the last day. The coin is now consolidating, and there is a chance it could see more upward movements in the coming week. Here is what you need to know:

• MANA has rallied by nearly 60% after crashing at the start of the week

• The coin has now surged past the crucial $1 mark

• Bulls will aim to test $1.5 in the coming days after consolidation this weekend.

Data Source: Tradingview 

Can MANA defy the odds and hit $1.5?

Although we expected the market to bounce back slightly after this week’s crash, MANA appears to have just exploded. After adding nearly 60% in value over the last 24 hours, the coin is now trying to consolidate above the crucial $1 mark. 

So far, things are looking good. While some investors fear that the rally could correct steeply, if the price stays above $1, then there will be enough buyer confidence to push MANA towards $1.5. Besides, momentum indicators like the RSI appear to suggest that MANA’s recent run is far from over. 

But there are some important downside risk factors to keep in mind. First, MANA has outperformed the broader market in its recovery. If there is any slight decline in crypto over the coming days, MANA losses could be much bigger compared to other major coins. Also, the metaverse token still remains pressured below its 50- and 200-day EMAs. These two points present stiff upward resistance that will make the idea of $1.5 improbable in the short term.

What to do with MANA right now?

The best thing to do would be to just watch. Yes, even though we think the coin could test $1.5, the downside risks are still huge. 

If indeed the metaverse coin is able to maintain the price above $1 at the start of trading on Monday, then you can buy and cash out at $1.5.

The post Decentraland (MANA) surges by nearly 60% – Will bulls breach $1.5 next? appeared first on Coin Journal.

After touching its lowest price in 2022, Solana (SOL) has rallied over the last few hours. The coin had struggled to cross above $50 after two consecutive days of severe losses. But it seems there is some bullish momentum right now that could push it further. Here are the details:

• SOL has reclaimed the $50 price after surging nearly 20% over the last 24 hours.

• Significant downside risks still remain despite today’s rally

• SOL also remains below its 50 and 200-Day EMA suggesting it’s not out of the woods yet.

Data Source: Tradingview 

Can Solana maintain this rally?

The broader crypto market has recovered after crashing over the last few days. Solana has in fact gained nearly 20% after seeing steep losses. However, the rally is not decisive. Analysts warn that what we are seeing is a slight pullback after the crash over the last two days. The overall downward trend in SOL has not yet reversed and as such, it is likely the coin will fall further in the days ahead. 

Reclaiming the $50 mark was a big deal and an important psychological win for SOL bulls. But since the coin remains severely pressured below its 50- and 200-day EMA, we expect more weakness to follow. 

SOL will likely drop below $50 once again and this time, it may fall even further before any rise. But if SOL can somehow continue the uptrend and close the day above $60, this thesis will be invalidated. 

Is SOL offering the perfect dip?

One thing we can agree on is that Solana is a big project and is likely going to challenge Bitcoin and Ethereum in the future. 

It was just the other day SOL was selling at around $200. The fact that you can get it now for less than $50 is a big deal. It’s by far the best dip-buying opportunity in the market.

The post Solana (SOL) reclaims $50 as it rallies from 2022 lows – Can it keep going? appeared first on Coin Journal.