Kategorie: Altcoin News

Dip buying is one of the best ways to profit in crypto. After all, the golden rule in investment is to always buy low and sell high. The market has seen a massive crash and while many coins offer good dip-buying opportunities, metaverse coins should be on your radar. Here is why:

• Overall sentiment in metaverse coins is likely to improve significantly before the end of 2022.

• Metaverse coins have already crashed several times in 2022 so they are heavily discounted.

• Increased investment in VR and AR gaming could unlock the value of metaverse cryptos this year.

So, for dip hunters looking for a slice of metaverse coins, the three coins below should offer a very good discount:

Enjin Coin (ENJ)

Enjin Coin’s (ENJ) main goal is to create a robust ecosystem that will facilitate and support innovation around blockchain gaming and virtual reality. The project is seen as a big part of the play-to-earn space and is expected to be huge in the future. 

Data Source: TradingView 

But ENJ is currently suffering one of its worst losses in months. The coin has lost nearly 35% of its value in the last 24 hours alone. With more losses expected, the dip-buying opportunity presented will be hard to ignore.

Wemix (WEMIX)

Wemix (WEMIX) is also a blockchain project built for metaverse and virtual reality games. In fact, it is modeled around Enjin Coin, but it is not nearly as big. So far, WEMIX has managed to keep losses during the crypto crash relatively lower. But it has still dipped significantly from its all-time highs. It would be a nice asset to add to your portfolio in the short term.

Bloktopia (BLOK)

Bloktopia (BLOK) is a polygon-based metaverse that is fully decentralized. It’s relatively new but has attracted a big fan base. The coin has seen losses of up to 40%, and its market cap has fallen below $50 million. If there was a perfect time to buy it cheaply, this is it.

The post Tracking the dips: Top 3 metaverse coins that have crashed today appeared first on Coin Journal.

Gala Games (GALA), one of the leading metaverse and blockchain gaming tokens, is currently in free fall. The coin follows the broader crypto market in decline, but its losses have been much worse than expected. Is there any chance of recovery? Here are the main facts:

• GALA has crashed by nearly 40% after losing its $0.07 support

• The metaverse coin is essentially in free fall and could enter a bear market in the coming days

• GALA is down nearly 65% from its monthly highs at the start of May

Data Source: Tradingview 

Can GALA recover after this bloodbath?

Recovery for GALA will of course come. But we do not see it happening anytime soon. Sentiment in the market is now very unpredictable. It appears many investors are cashing out on their crypto assets, with sustained losses hitting most coins. This is not a buyers’ market and as such, we expect GALA to drop further before any reversal. 

It will be very interesting though to see how the price action will play out once it dips below $0.05. After all, this has been a very psychologically important threshold for GALA bulls. At the moment, the metaverse coin is slightly above this price.

Based on trends in the market, it won’t be a surprise if it falls further. It is likely that the free-fall will continue before GALA bottoms at around $0.02.

How to profit from GALA right now?

This is not the best time to buy GALA. If you want to do it, it would be much better to wait for a week or thereabout. We expect the price to bottom way below $0.05. 

Once this happens, the coin will be trading at nearly a 100% discount from its May highs. That will be the most ideal dip to buy, especially if sentiment in the broader market improves.

The post Gala Games (GALA) crashes by nearly 40% after losing crucial support – Is recovery possible? appeared first on Coin Journal.

Play to earn is by far one of the most exciting new frontiers in crypto. After the massive success of Axie Infinity, newer more exciting projects in play to earn are steadily coming out. But why would you even consider this niche? Here are some reasons:

• Play-to-earn games are now combining NFTs as part of the process.

• The rise of augmented and virtual reality could make a play to earn games bigger.

• A lot of institutional investors are also checking out P2E games as future investments.

Well, for those of you looking for small and relatively unknown P2E games in crypto, the list below should be ideal:

Thetan Arena (THG)

Thetan Arena (THG) calls itself an eSport-based game that combines multiplayer functionality and virtual reality. It allows users to form teams and battle other teams for in-game rewards.

Thetan Arena has so far managed to attract over 23 million users. It also remains significantly undervalued, with a market cap of less than $30 million.

Pegaxy (PGX)

Pegaxy (PGX) is a small and relatively under-the-radar play-to-earn game that allows players to earn and create real value from the game. The blockchain game is free to play and largely involves mech horse racing within a metaverse. 

Pegaxy uses a dual token system. On the one hand, there is the PGX which is the main governance token for the platform. There is however another in-game utility token called VIS. As of now, Pegaxy has a market cap of less than $3 million.

Alien Worlds (TLM)

Alien Worlds (TLM) is more of an NFT-powered metaverse that includes a P2E gaming element. The platform allows users to earn NFT rewards as they compete in a simulated virtual economy through various planetary worlds. So far, the project has seen its market cap rise above $50 million, and more growth could still come in the future.

The post This unknown play to earn games could have significant potential appeared first on Coin Journal.

Terra (LUNA) has continued its sharp decline from the start of the week. The ecosystem which is known for its stablecoins is experiencing its worst crash in months, and there are fears that the worse is not even over. Here are the key latest developments:

• LUNA has fallen by nearly 90% over the last 24 hours, following two days of steep losses.

• The crash comes as its stablecoin UST lost significant value against the dollar.

• UST has fallen sharply again after showing signs of recovery 

Data Source: Tradingview 

Why is the LUNA crash far from over?

In the last few days alone, Terra (LUNA) has seen a sharp decline of over 170%. The crash is one of the worst in the history of the stablecoin platform. The steep losses were triggered after its main UST stablecoin lost its value against the dollar. 

UST is pegged against the US dollar at a ratio of 1:1. At one point, the stablecoin was trading at around 70% less than the value of the dollar. This has sent a lot of LUNA investors panicking and as such, the sell-off has begun. We had seen UST recover slightly but these gains have reversed sharply.

LUNA will face significant selling pressure. The confidence that investors had in UST is now severely dented, and it will take time for the coin to recover from this. As of now, expect sharper declines in the token price over the coming weeks.

What’s the long-term outlook for Terra?

Despite the UST debacle, Terra still remains one of the biggest stablecoin platforms in the world. However, there is no doubt that this incident will have far-reaching effects on LUNA’s price in the short term. 

But we expect the platform to recover in the longer term, and once UST is able to regain its 1:1 ratio against the dollar, investor confidence will certainly improve.

The post Terra (LUNA) tumbles by 90% in 24 hours as UST’s recovery loses steam appeared first on Coin Journal.

Shiba Inu (SHIB) has been recovering from the massive sell-off in crypto over the last few days. The coin looks like it has some significant upside and could outperform other major coins on its road to recovery. More price analysis to come later but first, key developments:

• SHIB has gained around 3% over the last 24 hours, outperforming most major coins

• The meme coin had lost nearly 40% of its value over the last 7 days alone

• But a quick reversal that pushes SHIB up by at least 35% is plausible

Data Source: Tradingview 

Shiba Inu (SHIB) – Why bulls are confident

The beginning of May has not been good for crypto. The market has generally dropped, and SHIB was not spared. The coin lost around 40% of its value in the last 7 days. However, there is a good opportunity for a quick rebound and a trend reversal that could push the price higher. 

In fact, this will not be the first time this has happened. After dropping to $0.0000135 at the start of May, SHIB recovered very fast. The trend reversed in less than 12 hours, where SHIB gained around 30%. In the process, a swing high of $0.0000179 was set. 

Ever since the meme coin has established a range of between $0.0000135 and $0.0000179. At the moment, SHIB is at the upper side of that range at $0.00001591. We expect SHIB to surge even further in the coming days.

Can SHIB reclaim its all-time highs this year?

The volatility we have seen in the broader crypto market has been very persistent. Every time the market recovers, we end up seeing another sell-off shortly after. It is therefore unlikely that SHIB will regain its all-time highs this year. 

But this does not change the positive outlook for the meme coin. There is still an opportunity for relatively better gains before 2022 is out.

The post Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market appeared first on Coin Journal.