Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Star Atlas wants to revolutionize P2E gaming – Should you buy

Play to earn or P2E is seen as one of the most promising sectors in crypto. After all, some projects have seen massive success in this area, including the popular Axie Infinity. But one game that is trying to take over the P2E space is Star Atlas. The metaverse game has seen major milestones over the past few months. Here are some of them:

  • Massive community growth with over 350,000 followers on Twitter

  • The game is built on Solana, offering better speeds and scalability

  • It has hundreds of thousands of active players each day

Data Source: TradingView 

Star Atlas – Should you buy it?

Before we get to the economics of Start Atlas, it is important to note that the metaverse offers a dual token economy. The governance token is called the POLIS. Now, as an investor, you would normally purchase the governance token since it gives you a lot of leverage over the game. 

So, the more the game grows, the more valuable the POLIS token becomes. This token has a fully diluted market cap of around $138 million. This is still modest and offers quite some potential for more expansion. 

The second coin is the in-game utility token called ATLAS. This one would be ideal for people who want to actually play the game. The market cap for ATLAS is around $219 million.

Why buy Star Atlas?

The potential growth that Star Atlas offers is quite incredible. In fact, just recently, JP Morgan has come out with a report that predicts the metaverse would be worth $13 trillion by 2030. Start Atlas is one of the projects leading this revolution, and it could help you unlock a huge chunk of that industry.

The game dynamics and in-game economy of the Star Atlas metaverse are very sustainable. This ensures the game can run on its own without further injections of capital.

The post Star Atlas wants to revolutionize P2E gaming – Should you buy appeared first on CoinJournal.

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High Street metaverse: Why you should consider buying

Virtual reality is going to transform human interaction over the coming years. All the biggest tech companies out there are investing in the metaverse, and the future looks quite bright. But there are some projects that already have so much potential, and High Street is one of them. Here is why:

  • The project has been growing fast with an oversold IHO

  • High Street has also reported massive social media engagement in recent weeks

  • The platform is creating a retailed-focused metaverse that could offer incredible utility

Data Source: TradingView

Why you should buy High Street

There are many metaverse projects right now, and each claim to offer something different from the other. But there is just something about High Street that appears very promising. First, the projects want to create a highly integrated metaverse. Think of it as a city in virtual reality.

So far, the plan is to build homes, retail spaces, and other virtual amenities. The buy-in for the project has also been quite impressive. In fact, the Initial Home Offering or IHO for High Street Solarium homes was oversubscribed. Over $9 million was spent on these homes. This shows you that many people are getting into this.

Also, we are talking about a very small project so far. HIGH, its native token, has a market cap of $15 million. Keep in mind that nearly half of all the goals in its roadmap are still not yet achieved. This opens up the project to massive growth potential.

What is High Street’s future?

In essence, High Street wants to be a virtual city. There will be additional gaming and social elements included in the future but at the center of this project is the idea of bringing retail to the metaverse.

So far, there are very few other projects doing this with the success that High Street is seeing. It is a project truly worth looking at.

The post High Street metaverse: Why you should consider buying appeared first on CoinJournal.

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Tron surges by nearly 25% – Dead cat bounce or real momentum?

The crypto market has stabilized after two days of massive sell-offs. This comes as the US Fed made a serious commitment to deal with inflation with aggressive monetary policy. Tron (TRX) has been one of the best-performing coins in this recovery, with a 25% upswing over the last week. But is this real momentum or just another dead cat bounce? Here is what you need to know:

  • TRX showed incredible resilience even as the market crashes

  • The coin is now above a crucial $0.05 support and could stay there for days

  • With momentum picking up in the market, TRX could hit $0.09.

Data Source: TradingView

How long can TRX maintain the uptrend?

Well, there are many factors at play in crypto right now. The Fed’s aggressive move to deal with inflation is a good sign. But there are still many underlying economic factors that could make any rally short-lived. 

For instance, there is a real prospect that a major recession in the US could come later this year. So, for TRX, the uptrend will have to deal with these possible risks. If momentum in crypto slows, then it will be hard for TRX to maintain growth. 

We don’t think there is enough confidence in the market for a sustained bull run in crypto right now. As such, TRX will see a dead cat bounce rally over the coming week before it retreats again. But if it can stay above the $0.05, the possibility of a major downside is limited.

TRX’s short-term trading play

The best way to invest in a risk-averse market is to pick a short-term position. TRX offers a good play in this. 

First, if the coin stays above $0.05, it could provide a decent entry point for bulls. A short-term rally will likely push TRX toward $0.09. This will be the ideal time to exit and cash out.

The post Tron surges by nearly 25% – Dead cat bounce or real momentum? appeared first on CoinJournal.

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Decentraland continues to decline in 2022 – Should you buy

The hype around the metaverse appears to have died down a bit. But there is no doubt metaverse projects are still very hot right now. Many experts see this as the next frontier of unlocking more utility for cryptocurrency. Decentraland is one key project in this area. But things haven’t really been going great for its native coin MANA. Here are some pointers:

  • After massive success in 2021, MANA has fallen sharply from its highs.

  • The coin is in fact 5x less valuable than it was just a year ago.

  • MANA however offers some serious potential for future returns

Data Source: TradingView 

MANA price analysis in the short term

Volatility in the crypto market right now is making it very hard for analysts to foresee where some coins will go. MANA however has remained in a very consistent downtrend since we crossed into 2022. 

The coin has the potential to surge again but we don’t think this will happen in the near term. At the moment, the coin is heavily suppressed below the $1 mark. It has also failed to break the $1 resistance over the past six weeks. 

This could suggest that there is an inherent weakness in MANA and as such, expect a bigger slump as the token retraces the $0.5 mark. Also, things could get even worse if the current crash we see in crypto lasts for long.

Should you buy MANA?

Decentraland is no doubt the biggest metaverse project right now. Even with its headwinds, the coin is still above many other projects in this space. But it will not stay there for long. 

As big tech companies invest in metaverse projects, more exciting and better platforms will rise. So, even though MANA is a good buy now, it’s not something to hold for the long term. As competition heats up in the market, MANA will likely suffer major losses.

The post Decentraland continues to decline in 2022 – Should you buy appeared first on CoinJournal.

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Helium’s bullish alignment could trigger an 85% rally

Broader weakness in crypto is currently pulling down many altcoins like Helium. However, the coin appears to be showing some resilience in the wake of today’s crash. While most major coins are already down by double digits over the last 24 hours, HNT has kept losses well below 10%. But a more promising bullish setup could trigger a massive 85% rally. Here are some pointers

  • Helium has formed a cup and handle pattern that suggests a bull run is imminent.

  • The coin will however need to flip $8.44 from resistance to support

  • If this happens, a decisive break toward $12.5 could come in the weeks ahead

Data Source: TradingView

The Helium bullish setup

There are three crucial factors here that will determine if HNT will break or not. First, so far, the market appears to be crashing. We have also seen trade volumes plummet as investors step aside from crypto temporarily. As a result, sentiment may slow and this will affect HNT’s ability to consolidate the price above important support. 

Remember a bull run only comes if the coin regains the $8.44 support and keeps the bears off. If the current weakness in the market persists, this may not happen. In fact, HNT could still plunge to its April lows of $6.59. 

But despite this, the coin has shown some impressive resilience. If dip buyers jump into the market after today’s crash, then we could realistically see a scenario where HNT targets $12.5 and later $16.6 depending on upward momentum.

How soon will HNT turn around?

The good news about HNT is that it’s actually not that far away from the $8.44 support. The coin only needs an uptrend of 5%, and that’s it. 

The only challenge will be to keep the price action above $8.44. With everything considered, the coin could hit $12.5 in about three months or thereabout.

The post Helium’s bullish alignment could trigger an 85% rally appeared first on CoinJournal.