Kategorie: Altcoin News

Cronos (CRO) has been one of the most underperforming coins in the market over the last few months. The coin has literally blown hot and cold but despite this, it has failed to establish any decisive breaks. However, Cronos still continues to report major ecosystem development news. Here are the highlights:

• Cranos recently announced a partnership with racing giant Aston Martin

• The coin has however failed to reflect these huge developments in the pricing

• Cronos remains well below the $0.2 mark and could stay there for a while

Data Source: TradingView 

Where does CRO go from here?

There is no doubt Cronos is a huge project in crypto. The fact that the coin is now selling for less than $0.2 suggests that it’s undervalued. As more ecosystem developments continue to be reported, we expect the underlying fundamentals for Cronos to improve. This will however not reflect in the price until overall sentiment in the market improves. 

As long as crypto investors are not willing to take risks, then fundamental ecosystem news doesn’t matter. But despite this, CRO still has enough potential to surge to $0.5 this year. This will roughly be more or less where it was a few weeks ago.

Nonetheless, it will still be a growth of around 5x. Now, this will of course not happen in a few days. But before the end of 2022, CRO could easily be 5x your money, especially if more and more investors discover just how undervalued it is.

How to trade CRO

The best play for CRO has to be long-term. There is just so much volatility in the market now, so predicting assets in the short term is very hard. 

But if you don’t mind holding CRO for a few months, then you will definitely get some amazing returns. Even if the coin doesn’t hit $0.5, you could still end up with decent double-digit returns.

The post Cronos (CRO) struggles to break out despite major ecosystem developments appeared first on CoinJournal.

DigiByte (DGB) has seen a decent change in trend over the last 24 hours. The coin has managed to see double-digit gains but despite this, there are still a lot of downsides to keep in mind. The coin is in fact staring at a steep drop. More on this later but first, here are some highlights.

• DGB remains in a bearish long term trend despite recent rallies

• The coin has however tried to consolidate as it tries to find demand

• But is unlikely to maintain this momentum for long

Data Source: TradingView 

DigiByte (DGB) Price analysis and prediction

The new week appears to have brought new life for DigiByte (DGB). The coin has managed to gain around 10% over the last 24 hours and looks to be consolidating. However, as we have seen in the past few weeks, most rallies in crypto these days don’t last. In fact, it is likely that the current uptrend on DGB is driven by short-term traders. 

As soon as the coin hits a decent enough price, investors will lock in profit and as a result, DGB will flatten. We expect the current uptrend to continue for a few days. However. DGB will likely get rejected at the $0.016 resistance zone. This will lead to a sharp fall that takes the coin closer to $0.01. 

However, if bulls can somehow manage to push DGB above $0.016, then more upside could follow.

Should you buy DigiByte (DGB)

If you plan to buy and hold DigiByte (DGB) for a short time, then you can buy now. The coin will trend upwards for a few days before it retreats at $0.016 or thereabout. 

As for long-term investors, DigiByte (DGB) is already heavily discounted as we speak. There is a real chance to unlock its full value in a few months or so.

The post DigiByte (DGB) faces a steep drop as sentiment in the market slows appeared first on CoinJournal.

The month of May was dominated by news of LUNA’s crash. This came after its dollar-pegged stablecoin UST fell by nearly 90% against the dollar. In an effort to relaunch Terra and stop the bloodbath, the Terra community announced a rebrand. But Terra 2.0 has not been as successful as expected. Here are the points:

• Terra classic lost nearly 80% of its value shortly after it announced its airdrop

• The coin managed to recover slightly but still remains in the red.

• More volatility is expected on LUNC over the coming weeks.

Data Source: TradingView 

Terra 2.0 – Can it woo investors?

The 80% drop shortly after launch is of course a bad sign for Terra 2.0. But this is not really the end of the world. In fact, because of high volatility in the market and slowing investor sentiment, it was largely expected that Terra 2.0 will face challenges. The good news though is that despite the drop, LUNC showed some signs of recovery. 

The coin appears to be consolidating and settling in between $4 and $6. Also, LUNC has managed to keep the market cap way above the $1 billion mark. We expect the price to continue stabilizing in the days ahead before it establishes a trend. 

After that, LUNA will start to rise and fall in line with price movements in the rest of the market. Eventually, the coin could touch $10 in a few weeks as investors start to buy into the idea.

LUNC’s long term prospects

Rebranding Terra is a big first step. It means that the people behind the project are committed in the long term. We do not think Terra 2.0 will be as big as the original Terra. 

After all, this was a project that once had over $20 billion in market cap. But it is likely that Terra 2.0 will settle at $5 billion in value in the near term.

The post Terra Classic (LUNC) crashes by nearly 80% barely hours after its airdrop appeared first on CoinJournal.

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.