TKO rose by 100% on reports of the acquisition of Tokocrypto by Binance
The cryptocurrency has slid by 28% since forming a local top at $0.57
TKO could correct to $0.34
Toko (TKO/USD) token is attracting buyers. With a surge of 100%, it may be too late to buy TKO now. But when an opportune moment comes, you could snap the token, thanks to positive cryptocurrency news.
The gains in TKO come amid reports that Binance is acquiring the Indonesian crypto exchange Tokocrypto. We know that Binance is the world’s biggest crypto exchange. Thus, any approach to acquisition is likely to build optimism. TKO, the native token, reacted to the news, rising sharply from $0.283 to $0.57.
Binance is particularly interested in Tokocrypto since it is locally regulated. It is the first entity to be registered under Indonesia’s Commodities Futures Trading Regulatory Agency. Binance already holds an investment in the Indonesian exchange since 2020.
But the sharp gains in TKO may prove difficult to hold, at least for now. As of press time, TKO traded at $0.42, a decline of 28% from its local high. The trading volume had also fallen sharply and was only up 2.99%. However, to an investor monitoring the positive developments of Tokocrypto with Binance, TKO should remain on the waitlist.
Technically, TKO is bullish but faces a correction. From the RSI indicator, a reading of 77 implies that TKO is overbought and a correction is on the horizon.
The support lies at $0.34, giving bears a chance to push the cryptocurrency lower. The level was a breakout zone that was triggered as the price was pumped.
Concluding thoughts
TKO faces further gains if the reports of the acquisition of Tokocrypto get confirmed by Binance. However, currently, investors face a correction.
If you are looking to buy the token, the level to keep an eye on is $0.34. Also, monitor the developments around the token, as positive news can trigger sharp rises before reaching support.
Where to buy TKO
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
The magic token has doubled in price in the past week
The cryptocurrency has been boosted by potential listing by Coinbase
MAGIC is under correction as the cryptocurrency approaches the $0.7 resistance
Ever heard of the Magic (MAGIC/USD) token? With a market cap of $103.31 million, the cryptocurrency is among the lowly ranked at #230. However, buyers are camping for this minor token on positive cryptocurrency news. As of press time, the cryptocurrency was up 10%, but it has more than doubled in price since the start of the month.
The gains in MAGIC happened after US crypto exchange Coinbase said that the cryptocurrency was on its listing roadmap. Other tokens on the Coinbase listing target are Rocket Pool (RPL) and Aragon (ANT). But what is MAGIC?
MAGIC is the native token of Treasure DAO, a project seeking to become a decentralised video game console. The DAO targets games and non-fungible tokens. Among the DAO’s infrastructure is an NFT marketplace Trover and gaming platform Bridgeworld.
MAGIC corrects slightly below the resistance of $0.7
A technical outlook shows MAGIC facing resistance as the cryptocurrency approached a key resistance at $0.7. The momentum is still bullish, although MAGIC is overbought, with an RSI reading of $75.
The 20-day moving average is shifting above the 50-day MA, in line with the bullish momentum. Both moving averages offer MAGIC support.
These key levels will be important to bulls
$0.51 – This is the immediate support level for the cryptocurrency. The level has been tested and holds ground even as MAGIC corrects. If bulls defend this level, it will allow them to push higher and initiate a breakout at $0.70. The level is needed to hold for MAGIC to have a chance for further gains.
$0.30 – This is the established support for the cryptocurrency. Although lying deep below, it could be hit if $0.51 fails to hold. That could push MAGIC back into consolidation and potentially wipe out the gains already made.
Where to buy MAGIC
As MAGIC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase MAGIC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy MAGIC right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the 1Inch DEX
Head to 1Inch, and ‚connect‘ your wallet to it.
4. You can now swap your ETH for MAGIC
Now that you’re connected, you’ll be able to swap for 100s of coins including MAGIC.
Are you a crypto gamer or play video games? The advent of blockchain has enabled gaming to go to the next level. Crypto gaming allows you to play and earn cryptocurrencies or non-fungible tokens (NFTS) after winning. There are notable platforms where you can game and earn tokens. With crypto gaming relatively new, you can buy and benefit from the price appreciation of the native tokens to associated blockchains. Here are our top picks based on market capitalisation:
ApeCoin (APE)
ApeCoin is the biggest gaming blockchain, with a market cap of $1.429 billion. The gaming blockchain is famous for the Bored Ape and Mutant Ape NFT collections.
The native token APE is classified as an ERC20 token, meaning it resides on the Ethereum blockchain. The token was officially released on March 16, 2022. APE has particularly been robust lately on the launch of staking feature and NFT marketplace. Stakers on the platform will start earning rewards on December 12, 2022.
Where to buy APE
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.
Besides ranking as a popular metaverse platform, The Sandbox (SAND/USD) is a crypto gamers’ darling. Players can create 3D worlds and participate in play-to-earn games on The Sandbox.
SAND, the native token, facilitates gameplay transactions. Users can use SAND to buy plots of land in the metaverse. SAND comes second among gaming tokens on market cap, with a valuation of $865 million.
Where to buy SAND
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
It is a top blockchain gaming platform popularly known for Pokémon-Esque creatures dubbed Axies. In fact, despite ranking lower on the market cap than its predecessors, Axie Infinity is recognised as a leader in play-to-earn gaming. Gamers engage in a monster-battling game for an alluring promise of rewards.
Axie Infinity native token AXS is the governance token. The token has a market cap of $848 million.
Where to buy AXS
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Another metaverse platform that ranks fourth in gaming tokens’ with a market cap of $729.4 million. Gamers can play games on Decentraland, buy and sell digital real estate, and interact with other users.
Where to buy MANA
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Gaming tokens carry a promising future amid the prolonged crypto winter. With the sharp decline in prices, the top gaming tokens could return big when cryptocurrencies recover.
Ever heard of ERC20 tokens? These are virtual assets with a residency on the Ethereum blockchain. In other words, they run on Ethereum. ERC20 simply denotes the standard used to create and issue smart contracts on the Ethereum blockchain. Users can create the ERC20 tokens via smart contracts on the network. Currently, there are over 450,000 ERC20 contract tokens.
With numerous tokens made under the ERC20 standard, it is possible to get confused about which coins to buy when the market turns up. We believe these three tokens make a cut as the best among which you should consider:
Chainlink (LINK)
Chainlink (LINK/USD) is one of the best ERC20 tokens around. Analysts have lauded the platform’s decentralised network of nodes as its main differentiator. The nodes provide off-blockchain data and information to on-chain smart contracts through oracles.
Chainlink has attracted attention lately on its expected staking feature. The chainlink team will release the beta version of Chainlink Staking on December 6, 2020, at 12 PM ET. The beta will go live on the Ethereum mainnet.
LINK price has held between $6 and $8 for a while, meaning we could potentially be staring at a market bottom. Meanwhile, whales holding the native token are increasing ahead of the staking service.
Where to buy LINK
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Yes, the token of the metaverse platform, The Sandbox, is a top ERC20 token choice. It is underperforming this year and can easily be ignored for now. As one of the largest metaverse platforms, the token will return big when cryptocurrencies recover. According to Citi analysts, the metaverse could be a $13 trillion opportunity by 2030.
With the low valuation of SAND ($0.6) currently, you should consider buying the dip once the bullish market returns.
Where to buy SAND
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
How can we miss the much-loved meme cryptocurrency? Shiba Inu (SHIB/USD) has been viewed as a cryptocurrency carrying little utility. However, lined-up developments, including the metaverse, are touted as game changers. But, the cryptocurrency already has a large following and is accepted as a means of payment by top organisations.
With SHIB known to make parabolic movements at the slightest provocation, it definitely makes a cut as one of the best ERC20 tokens. You can buy and hold or monitor key developments to take advantage of large moves that happen unannounced.
Where to buy SHIB
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The Sandbox token gained an intraday 7% and 14% in a week
The cryptocurrency has been hit hard by a slowdown in metaverse activity
SAND faces rejection at the descending trendline
The Sandbox price (SAND) rose by more than 7% on Monday, extending the weekly gains to nearly 14%. The recovery came amid a prolonged bear market and limited activity in the metaverse. But how far can the Sandbox token sustain the recovery?
SAND trades at $0.62, a significant drop from its all-time high of $8.5 in November 2021. The decline has been fueled by a prolonged crypto development and a slowdown in metaverse activity. As the crypto sector recovers and more firms enter the nascent virtuality reality space, SAND will be back to a rally. But that is in the longer term. The short-term shows that the Sandbox token could continue rising, but bulls will face a major test at the descending trendline.
SAND price analysis and outlook as momentum improves
From the chart below, SAND has been trading on a system of lower lows and lower highs. That has resulted in the formation of a descending trendline.
The RSI has shifted above the midpoint for the first time since November 9. A bullish MACD crossover was initiated recently, in line with the improving momentum. However, the MACD remains below the neutral point.
What next for SAND?
The short-term rally in the Sandbox token is likely to be sustained in the short term. To confirm a sustained surge, the token must overcome the descending trendline. If considering buying SAND now, beware of a potential rejection at or near the descending trendline.
On the flipside, if SAND rises above the descending trendline, the next potential level to watch would be $0.93.
Where to buy SAND
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
