Kategorie: Crypto Analysis

Cryptocurrencies and stocks had a mixed performance this week as the corporate earnings season continued. The tech-heavy Nasdaq 100 index dropped after the relatively weak guidance by companies like Netflix and Nvidia. At the same time, the value-focused Dow Jones index rose after strong bank earnings. 

Bitcoin, on the other hand, remained under intense pressure as the crypto fear and greed index remained at 52. It moved slightly below the important support at $30k, signaling that bears are overwhelming the bulls. Ethereum dropped to $1,800 while coins like Tron and Chainlink surged during the week.

Chancer token sale nears target

An important market event is that Chancer continued its token sale during the week. The developers have sold over 9.3 million tokens valued at over $927k. Their goal is to get to 12.6 million tokens in the first phase of the sale.

Chancer’s token sale gained steam after the developers introduced new options for buying the tokens. They introduced additional cryptocurrencies like Ethereum, Tether, Binance Coin, and Binance USD. 

For starters, Chancer is a platform that is seeing to introduce a new way for people to bet across various events like sports, political campaigns, and economic data among others. In addition to these products, people will be able to create their own markets and live stream to the entire ecosystem.

Chancer will be significantly different from existing betting and prediction marketplaces like Fanduel and BetMGM. For one, in the future, the network will be highly decentralized, with all token holders having a chance to make crucial decisions in the platform. For example, they will decide on new features and pricing. Also, they will also share profits that the company makes. You can buy the Chancer token here.

Chancer prediction: What is the future of Chancer?

Chancer is a highly ambitious project that is aiming to disrupt an established industry that has unlimited resources. For example, the five biggest companies in the US and UK have a market cap of over $100 billion. These companies can spend billions of dollars in marketing and development.

This explains why Chancer is focused on raising capital through a token sale. These resources will help it to build the platform and market it to key markets around the world. 

Chancer has some important features that will help it compete with the incumbents. For one, it will be a decentralized platform that will give token holders more saying about how it is run. In addition to placing bets in the platform, Chancer will let people create their markets and make money when users place the bets.

Chancer will be a highly transparent platform with more features like mobile applications, and blockchain technology integration.

Is Chancer a good investment?

Chancer is holding its token sale at an important time. Inflation has dropped, which will likely see the Fed end its tightening. At the same time, it comes at a time when demand for cryptocurrencies is still high as evidenced by the performance of Pepe and other new meme coins.

Therefore, there is a likelihood that Chancer’s token will do well when the developers list it in decentralised and centralised exchanges like Uniswap, PancakeSwap, and Binance. In most periods, new tokens tend to do well shortly after listing. 

They then perform well after the developers make several announcements. In this case, Chancer will likely rise ahead of the mainnet launch and as the developers unveil several partnerships.

Still, it is always risky to invest in presale tokens. As a result, you need to use proper risk management strategies when buying the token. For example, you should only allocate a small portion of your funds to these tokens.

The post Chancer could be the next big thing in sports and social betting appeared first on CoinJournal.

• Ripple delivered triple-digit returns so far in the trading year
• Bitcoin consolidates around the $30k level
• Ethereum is up more than 50% YTD

During the summer months, trading slows as financial markets usually enter consolidation. The cryptocurrency market is no different – look at Bitcoin, and its inability to convincingly hold above $30k tells everything. 

As such, this is the best time to look back and see which cryptocurrencies have outperformed the US dollar in the first seven months of the year?

The chart below shows some dispersed performances. While some cryptocurrencies have rallied, others remained flat. In other words, the crypto market is no different than the stock or the FX market from this perspective, as it is equally important to find the right asset to invest in. 

Bitcoin chart by TradingView

Ripple leads the pack

Ripple is the single major cryptocurrency to have delivered triple-digit returns YTD. Sure enough, the bulk of the gains came from the reaction to a recent ruling saying that Ripple is a security when sold to institutional investors. 

The good news, though, is that the spike higher was not retraced. Instead, the market consolidated at those higher levels, telling us that this is more than just a short squeeze. 

Bitcoin’s YTD performance exceeds 80%

For most of the time in 2023, Bitcoin delivered the biggest return. It rallied right from the start of the year, but the rally stalled recently. 

Bitcoin has a hard time breaking and holding above $30k. Its performance this year is closely related to the US dollar’s performance. 

For instance, despite the Fed hiking the funds rate several times this year, the EUR/USD trades close to its highest levels for the year. Hence, the dollar’s weakness transpired in other markets, including cryptocurrency.

Ethereum delivered more than 50% return to its investors

Ethereum is in third place, with a return of more than 50% since the start of the year. After initially rallying with Bitcoin, it gave up more of its gains during consolidation. 

The post Top 3 cryptocurrencies that outperformed the US dollar in 2023 appeared first on CoinJournal.

Cryptocurrencies remained in a tight range this week as Bitcoin continued to ping pong around the $30,000 support level. The crypto fear and greed index consolidated at the neutral point at 52 while volumes remained low. This article will provide predictions of some of the top performers during the week, including XDC Network, Polkadot, and dYdX.

XDC Network price prediction

XDC Network is a small layer-1 and EVM-compatible network with enterprise grade features. It has higher transaction speeds and lower costs. Some of the players in its ecosystem are Copper, Vinter, Fireblocks, and Fluent, among others.

XDC Network price has been in the green in the past five straight days and is now hovering at the highest level since April 2022. At its peak, the token was up by more than 41% from the lowest level this month.

On the daily chart, the coin has moved above the 50-day and 25-day moving averages, which is a bullish sign. Most importantly, XDC is hovering at an important resistance point since this price was the highest level on June 1st. The Relative Strength Index (RSI) has moved to the overbought level. 

Therefore, XDC network’s rally will likely take a breather in the coming days. If this happens, the next level to watch will be at $0.035.

DYDX price prediction

The DYDX token price has done well in the past few days even as exchange volume has eased. This performance happened even as volume in the ecosystem dropped slightly. It also coincided with the strong performance of other DeFi tokens like Maker and Compound.

The daily chart shows that the DYDX token rose from June’s low of $1.3653 in June to $2.14. It has moved above the 50-day moving average while the Relative Strength Index (RSI) rose above the neutral point. Volume has been a bit low. Therefore, the token will likely remain in this range during the weekend.

Polkadot price forecast

Polkadot has been in a tight range this week since there was no ecosystem news. It has remained above the support at $5.15, the important support point at $5.15, the lowest level on March 10th. 

Polkadot price has also remained slightly above the 50-day moving average while the Relative Strength Index (RSI) has moved above the neutral at 50. It is a few points below the support at $5.72, the highest point last week. 

Therefore, the outlook for the coin is neutral, with the next level to watch being at $5.72. A move above that level in a high-volume environment will confirm a bullish breakout.

How to buy Polkadot

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The post Crypto price prediction: XDC Network, Polkadot, dYdX appeared first on CoinJournal.

• Chancer presale has seen strong demand as investors bet on blockchain-based betting.

• Less than 10% of Chancer tokens remain before the first stage presale concludes.

• The value of Chancer could rise strongly after listing on Uniswap in Q3 2023 and after the mainnet launch in early 2024.

Chancer, a blockchain-based predictive markets application, opened the presale on June 13th, 2023. Five weeks later, investors bought almost $905,000 in tokens in the first phase. The amount suggests that Chancer is imminently sold out at the current price of $0.01 since the first stage targets $1 million. Investors seeking to buy the token can do so via the company’s website before the price rises in the second stage.

Why is Chancer in high demand?

Raising funds quickly through a presale suggests investors see value in Chancer. So, what does the token offer?

$CHANCER is the native token that will power a blockchain-enabled platform Chancer. It is the world’s first blockchain betting platform that allows users to bet against each other through a peer-to-peer (P2P) model. 

The opportunity lies in tapping into the fast-growing online gambling and bringing it to blockchain. According to market reports, online gambling will grow by 11.6% CAGR in this decade to hit $172 billion by 2030. Investors are betting on Chancer to revolutionise betting, given the growing application of blockchain in several other sectors. 

What is the value proposition of Chancer and its P2P model?

Chancer carries a value proposition in that it lets users bet on numerous events, outcomes, and situations. This happens as users create their own Chancer P2P markets and determine what to predict in those markets. They can then invite friends or join Chancer markets created by others. 

The exciting bit of P2P betting is that it allows flexibility. Users can bet on their preferred events, replacing the existing model where the bookmaker creates betting markets. Users can also determine the rules and odds for each bet via Chancer. 

Besides rewards on successful bets, Chancer lets users earn from market-making activities or creating P2P markets. That makes Chancer more than just a betting platform. The Chancer token can also be staked, allowing investors to earn passive incomes and improve their bottom lines. 

Chancer roadmap and predictions in 2023, 2024

Chancer is in the presale phase, but the demand for the project is already high. While the value of Chancer is increasing at each presale phase, the potential value of the token will be unlocked in the third and fourth quarters of 2023. This is when the token will be listed on exchanges. The token’s roadmap points to the first listing on Uniswap in the third quarter. The team eyes at least two CEX listings in Q3. 

In the fourth quarter, product development will begin. It will start with the testnet, aiming to pave the way for the full mainnet launch in the first quarter of 2024. 

The launch of the mainnet will be influential for Chancer as it actualizes the dream of bringing forth P2P betting. While our prediction is that the value of the Chancer token could start to rise in the third quarter of 2023, 2024 will be the most influential. This is when sustainable gains could be realised, allowing Chancer to go mainstream and become more acceptable. 

With the above roadmap, the value of Chancer could rise initially by double or triple-digit percentages in 2023. In 2024, the value could skyrocket by more than 10x heading into the future, where Chancer’s future acceptance will allow more gains. 

Should you buy Chancer this week?

Only 10% of Chancer tokens remain before the first stage of the presale concludes. After that, the price will increase by 10% in the second phase. 

With the demand for the token showing little signs of slowing down, chances are that the first phase will conclude in a few days. Thus, it could be the right time to grab the remaining tokens before the price increases to $0.011.

The post Countdown to the 2nd phase of the Chancer presale amid strong demand for token appeared first on CoinJournal.

• The AI industry is expected to grow to almost $2 trillion by 2030.

• AltSignals has raised more than $1.1 million in its second phase of the token sale

The Artificial Intelligence (AI) market is expected to continue growing in the coming years as demand from individuals and corporations rises. The most recent intelligence report on the industry showed that the market size stood at $207 billion in 2023 and that it will soar to almost $2 trillion by 2030. 

AI market to grow

The AI industry will continue growing as demand rises internationally. Analysts believe that AI models will disrupt all industries. For example, Hollywood actors and writers have gone on strike to protest the use of AI models in their work.

Many news organizations are now implementing AI in their operations. Besides, a well-trained AI model can now do a better job than most individuals. Most importantly, AI models will likely replace many financial analysts. Some quant hedge funds have found a lot of success using these models.

As a result, many companies are now investing heavily in AI. Microsoft spent over $10 billion investing in ChatGPT while Google has launched a similar platform. Apple has also built its own ChatGPT rival and is testing it internally. 

Further, Elon Musk has launched xAI, a company that will build AI tools. And Nvidia, the biggest semiconductor company in the world, is building technologies that will power the AI industry.

It is unclear how the AI industry will affect the world in the future. While some analysts see it leading to job losses, others believe that it will create jobs in the long run.

AltSignals token sale continues

Meanwhile, investors from around the world are still investing in AltSignals. The token sale has now raised over $1.19 million in its second stage. This means that the developers have sold over 53% of their $2.25 million target. Each ASI token is going for 0.01875 USDT and the price will rise by 12.05% in the next stage.

AltSignals is a financial services company that is seeking to incorporate artificial intelligence in its processes. The existing product, which is highly accurate and has thousands of customers, will be upgraded with a more advanced AI one.

According to AltSignals white paper, the developers will use several advanced technologies like natural language processing (NLP) and machine learning to come up with predictions. The ecosystem will be powered by the ASI token. 

For example, customers with more ASI tokens will receive more features like ActualizeAI, AltScalpPro, and discounts on all AI products. In the future, they will also be able to vote on key details in the ecosystem. You can buy the AltSignals token here.

Is it safe to buy ASI?

There are three main reasons why AltSignals will be the next big thing in the crypto industry. First, unlike meme coins that don’t have a utility, ASI has a real use in that it powers the AltSignals ecosystem. 

Second, AltSignals is in industries that are growing fast: finance and AI. This year, we have seen many AI coins like SingularityNET and Fetch AI jump by more than 500%. Finally, AltSignals is a genuine company with thousands of customers and positive Trustpilot reviews.

Still, you should be cautious when investing in AltSignals and other token presales. One way to mitigate risks is to ensure that you are investing a small portion of your funds in it.

The post AI market size prediction bodes well for AltSignals (ASI) appeared first on CoinJournal.