Kategorie: Altcoin News

DeFi has stagnated somewhat for most of 2022. Even though most projects in this area have shown a lot of promise, the price action for most DeFi coins remains very suppressed. This is of course a gloomy sign, but it also means that there are more opportunities for investors to take advantage of. Here is how:

• Despite the slowed outlook in 2022, DeFi projects can still offer decent returns this year.

• The slowed sentiment also suggests that coins have become significantly undervalued.

• There is huge application potential for DeFi projects in the future

Now, finding a nice bargain in DeFi can often be confusing for the average investor. But here are 3 coins that should be ideal as a start.

Uniswap (UNI)

Uniswap (UNI) is a decentralised exchange that runs on the Ethereum network. It has in fact grown over the years to become one of the biggest DEX in the world. Also, over the last few weeks, the DEX has seen important growth milestones.

Data Source: TradingView 

For example, Uniswap crossed $1 trillion in trade volume the other day. Unique monthly users have also risen sharply. However, UNI is still trading very low. This undervalued nature means the coin can shoot up once sentiment in the market gets better.

Nexo (NEXO)

Founded in 2018, Nexo is a decentralised lending protocol that focuses on offering loans to those who need them. The platform has seen sharp increases in total loan volumes and is set to become one of the largest lending protocols in terms of market cap. The project still has a lot to deliver this year, so it should be a good buy.

BenQi (QI)

BenQi (QI) is also a lending protocol. It is one of the biggest DeFi projects on the Avalanche network. Since its inception, the project has attracted a lot of investments and continues to work on ways to improve its ecosystem.

The post Three DeFi coins to buy by the end of May appeared first on CoinJournal.

There is a lot of hype and talk about the metaverse and what it can bring to human interaction. Also, in the last few months, we have seen massive surges in metaverse investments. There is no doubt this is an industry that has so much to offer in the long term. Here is why:

• The metaverse is offering new frontiers for content creators to reach new audiences.

• The immersive experience offered by this virtual world will have so many applications.

• Billions of dollars in institutional money are already flowing into metaverse projects.

Despite all these factors, finding decent metaverse investments that are truly worth your money is hard. But the three coins below should be a great start:

Ceek (CEEK)

Ceek is a robust metaverse platform designed for music and other live shows. The initial goal is to provide a platform for immersive virtual concerts and live music events. However, the project has been expanding its offerings in order to accommodate other types of creators.

Data Source: TradingView

There is a plan to bring in live sports and other acts as well. CEEK has already rolled out several virtual real estate on its platform, including virtual concert halls. It has also partnered with several major artists, including Lady Gaga and others.

Dreams Quest Origins

Dreams Quest Origins is an upcoming metaverse play-to-earn game set in a mystical virtual universe. The project is still under development but has so far released various teaser videos that suggest it has all the potential to be huge. The gameplay looks vivid, and the project already has big-name investors too.

DeFi Kingdoms (JEWEL)

DeFi Kingdoms is a fully integrated metaverse that includes both P2E gaming and decentralised finance as well. The game is relatively new but has been getting a lot of fans. The market cap is still low, so the chances of an epic rise are very high.

The post Top 3 metaverse coins to put in your portfolio appeared first on CoinJournal.

Apecoin (APE) has been showing strong bearish signs over the past week. The coin is now in steep decline as broader weakness in the market takes its toll. But how far can it actually fall? More on this below but first, here are some highlights:

• APE has recorded 3 straight days of losses as bears take full control

• The coin will likely bottom at $5 in this bearish cycle

• This thesis will become invalided if bulls can push the price action above $7 

Data Source: TradingView 

Apecoin’s trajectory and why $5 matters

When Apecoin launched a few weeks ago, the coin simply went to the moon. At one point, it was even trading at around $25. But the expected correction soon followed. APE fell sharply, and in the whole of May, it has struggled to rise above $10. This weakness is set to continue as we end the month. 

APE has in fact closed in the red over the last three trading sessions. It was around 7% down in intraday trading today too. We expect this bearish trajectory to continue and eventually settle at $5. However, there is still some risk that APE could lose $5 if sentiment in the market becomes more bearish in the near term. 

If this happens, we could see a decisive drop towards $2. But bulls can still save APE from this downtrend if they manage to push the price above $7 before the close of trading today.

The long term outlook for APE

We do not think Apecoin will return to its $25 highs anytime soon. In fact, most estimates show that the coin will likely settle at around $15 this year. But before this happens, Ape investors will need to deal with potentially devastating downtrends. 

In fact, the possibility of this coin bottoming at $2 is high. However, this also means that opportunities to buy for long term investors will present themselves.

The post Apecoin (APE) to bottom at $5 as weakness continues appeared first on CoinJournal.

Solana is one of the biggest blockchains in the world. The project was in fact referred to as the ultimate “Ethereum Killer” based on what it has to offer. Over the years, Solana has grown and is now attracting a series of play to earn and metaverse projects with massive potential. Here is why:

• Solana offers incredible transaction speeds for P2E and metaverse apps.

• The chain is also known for its low gas fees, making P2E more sustainable.

• Solana is a highly scalable and adaptable chain too.

So, if you are looking for potentially big P2E and metaverse investments, these three Solana based projects below should be worth it:

Star Atlas (ATLAS)

Star Atlas is a galactic themed game set in a vast metaverse. The game brings together three major factions where users can form guilds and build planetary empires. Each player needs an NFT backed spaceship to enter. Data Source: TradingView 

There are many rewards all throughout the game. Star Atlas is known for its epic gameplay, amazing graphics, and excellent features. It has also been attracting a huge number of players. It sure has a big future and is worth looking at.

Aurory (AURY)

Aurory is a role-playing game from Japan. The game is an adventure style metaverse with retro-style features. Players get various game modes. They can start off with a solo adventure or go on multiplayer modes where they engage with friends. There are tons of rewards within the game too, and so much to discover. The Aurory metaverse has also been expanding and adding incredible new features.

Genopets (GENE)

Genopets is a fun and exciting game that also doubles up as a lifestyle app for folks who love to get out. There are many NFT rewards too, and while the project is facing a lot of competition from other moves to earn games, it’s a great investment option.

The post 3 projects on Solana that could revolutionise P2E gaming and the metaverse appeared first on CoinJournal.

The Origin Protocol (OGN) has consolidated quite impressively over the past 7 days. The coin had seen a major sell-off in previous weeks. However, although the consolidation is a good thing for OGN bulls, the coin still remains very vulnerable to steep losses. Here are key points to note:

• OGN has gained nearly 50% from its lowest price in May.

• The recovery rally has started to slow, with OGN losing 11% in the last 24 hours.

• The coin will likely retreat further as short-term traders exit positions.

Data Source: TradingView 

Origin Protocol – How serious is the downside?

May was no doubt the worst month for crypto in 2022. As a result, OGN hit its lowest price in 2022 this month. While there has been a decisive recovery over the last 14 days, the token is now losing momentum. In fact, after falling 11% in the last 24 hours, OGN is about to lose the crucial $0.2 support. 

If this happens, the coin will be exposed to at least a 30% downside. This fall will likely settle on its 25-day EMA of around $0.15. However, IGN bulls still have a chance to avoid this. The most important thing will be to consolidate above $0.2. If OGN is able to close the day above this price, then we may see it test its next overhead resistance at $0.23. 

Despite this, smashing past $0.23 will be very hard in the near term. As such, it’s safe to assume that the upside potential for OGN remains capped at the moment.

Should you buy OGN or Wait?

Well, you can actually do both depending on the price action. For now, give it 24 hours. If the price is still above $0.2, then it’s a good time to buy. However, if OGN breaks below $0.2, then you can wait until it bottoms at $0.15 before getting in.

The post Origin Protocol (OGN) still vulnerable despite recent consolidation appeared first on CoinJournal.