Kategorie: Crypto Analysis

The collapse of FTX has been the most important cryptocurrency news this week. Its challenges came a few months after other centralized exchanges (CEX) like Voyager Digital, Celsius, and BlockFi. Therefore, there are concerns about the safety of centralized exchanges and their tokens. Here are some of the top CEX tokens to avoid.

Kucoin Token (KCS)

KuCoin is one of the biggest crypto exchanges in the world. In May, the company raised $150 million at a valuation of over $10 billion from the likes of Jump Crypto, Circle Ventures, and IDG Capital. It has over 27 million customers. In addition to its exchange, the company is exploring becoming a major player in other industries like the metaverse and gaming.

In a statement this week, KuCoin’s CEO reiterated that the exchange was completely safe and that it was in a position to handle any outflows. He talked about a major hack that happened in the exchange in 2021, which it managed to cover internally. 

He also added that the company will release its Merkle tree proof-of-reserves in one month’s time. KuCoin Token price has crashed by more than 6% in the past 24 hours and over 19.54% in the past 7 days.

How to buy KuCoin Token

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy KCS with Skilling today Disclaimer

OKX (OKB)

OKX is a Seychelles-headquartered company that serves more than 20 million users in over 100 countries. It provides services like spot, margin, futures, options, perpetual swaps, DeFi, and OTC trading among others. 

OKB is the ecosystem’s native token. Like FTX’s FTT, the coin’s holders get trading fee discount that saves them up to 40% discounts. It is also used for passive income. Also, users can use it in places like Coinrule, Cobo, and Bitpie. OKB has a total supply limit of 300 million coins and burns many of them every three months. 

How to buy OKB

Huobi Token (HT)

Huobi Global is one of the biggest Chinese exchanges in the world. The company was started by Leon Li, a leading entrepreneur in the country. Huobi experienced substantial growth a few years ago. This happened as cryptocurrencies became more popular in China. 

Recently, however, the company experienced slow growth after China banned digital coins. It also experienced substantial competition from the likes of Binance and Coinbase. Last month, Leon exited his stake and sold it to About Capital, a firm associated with Justin Sun. While Huobi is doing well now, there are concerns about most offshore exchanges.

How to buy Huobi Token

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy HT with Skilling today Disclaimer

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy HT with KuCoin today

The post Top 3 centralized exchange tokens to avoid after FTX crash appeared first on CoinJournal.

The 2022 crypto crash has been especially unkind to some of crypto’s more speculative projects, like Solana (SOL). Facing stiff competition and several fundamental issues, Solana has struggled to maintain any bullishness over the past few months. But while the crypto crash rages on, one new token is rising up from the ashes.

It’s called Metacade (MCADE), and it could be the best project primed to take advantage of GameFi’s growth in the coming years. Today, we’re going to break down what’s happening to Solana, and why you should start considering Metacade as a serious contender to add to your portfolio.

Solana (SOL) Faces Repeated Outages and Price Declines Amid Crypto Crash

Solana (SOL) is one of the leading Ethereum rivals on the market today. It’s one of the fastest blockchains in crypto, using an impressive combination of Proof-of-Stake (PoS) and Proof-of-History (PoH) to achieve speeds of 3500 transactions per second (TPS) without breaking a sweat. In theory, this can rise to 710,000, according to Solana’s documentation. When compared to Ethereum’s 30 TPS, it’s easy to see why Solana quickly climbed the ranks in 2021. 

Despite these incredible transaction speeds, Solana hasn’t been without its issues. This year alone, Solana has had six outages, one lasting a whole week in early January. Alongside 2022’s broader crypto crash, these outages have been the catalyst for some major price drops. After the week-long outage began on the 6th of January, SOL declined nearly -23% to its low on the 10th of January. After another outage plagued the blockchain on the 21st of January, SOL fell another -37% to find support three days later.

Since then, SOL’s price has remained subdued following a larger crypto crash. It’s currently worth $29, having failed to break higher than $49 during August’s bullish price action. With the month-long area of support at $30 traded through, Solana is now hovering around June’s low of $26.

What is Metacade (MCADE)?

Metacade is an up-and-coming project that’s aiming to be a disruptive force in the gaming industry. Metacade is a community hub where GameFi and crypto enthusiasts go to find the best Play2Earn games, earn more from their passion, and connect with like-minded individuals. Metacade’s ultimate goal is to be the world’s first player-owned virtual arcade where you direct the future of gaming, not out-of-touch game studios. 

To build this vision, Metacade is operating on a model that rewards players for their role in the community while using the collective’s power to generate some of the best Play2Earn and Web3 games the industry has ever seen.

Why is Metacade (MCADE) Expected to Outperform the Market?

While the crypto crash rages on, Metacade is positioning itself to quickly dominate the market during the next bull run. As mentioned, Metacade intends to attract players by rewarding them for doing what they already love to do. Every time you post a review, share some leading GameFi alpha, or participate in game testing, you’re rewarded with the MCADE token. If you’re already an avid GameFi enthusiast, then you can boost your income by simply sharing your thoughts and expertise on your favourite games! 

Metacade’s vision is that this will turn the community into a melting pot of ideas where developers and players are closely intertwined. Metacade plans to introduce a funding program called Metagrants, where game developers post their ideas for the Metacade community to vote for the project they want to see built. The winner receives funding from the treasury and can even receive instant, actionable feedback on their prototype using the platform’s native testing environment.

As part of Metacade’s goal to help players earn more from GameFi, they’ll also host exclusive tournaments for anyone to win big prizes. But even better than that, Metacade plans to launch a job board in 2024 that might one day help someone find their big break in the nascent Web3 industry. Careers aren’t the only thing you’ll find here, however; there’ll also be plenty of casual gigs, like one-off testing jobs, that players can pick up for a few hours to give their regular income a boost.

Eventually, Metacade will be handing over the keys to the Metacade collective by forming a decentralised autonomous organisation (DAO). The most valued members will be offered leadership positions to guide Metacade into the future. This will allow MCADE holders to vote on leadership roles, implementation of features, treasury allocations, and more, leading to an entirely self-sufficient ecosystem built by gamers, for gamers.  

Solana (SOL) vs. Metacade (MCADE) – Which Is the Better Investment?

As mentioned, Solana has had a rough time in the recent crypto crash. But outages are the least of its worries. As recently as October the 12th, Solana-based DeFi platform Mango was hacked for $100 million. Was this the first time? No. Solana had a direct attack on its user’s wallets back in August, where over $6m was stolen. Earlier, in February, a colossal $320m was stolen from Solana. 

The total cost of these hacks alone in 2022 has amounted to over $446m. To put that into perspective, that’s about the same amount of security aid the US announced it would send Ukraine in June.

While Solana’s future remains uncertain, especially after Ethereum’s upgrade pushed its potential TPS to 100,000, Metacade faces very little competition in a rapidly-growing market. All of this alone could make Metacade a prime contender in its field. But the features described above could easily make Metacade an epic titan in the budding GameFi industry. 

With these factors in mind, Metacade is likely incredibly cheap right now at it’s presale stage. If you’re wondering whether to invest in Solana or hold out for Metacade in the wake of 2022’s crypto crash, the answer is clear: Metacade should be your first choice.

You can buy Solana at eToro here.

You can participate in the Metacade pre-sale here.

The post Solana (SOL) Can’t Recover From the Crypto Crash as Metacade (MCADE) Presale Is Gaining Interest appeared first on CoinJournal.

The cryptocurrency industry is having its Lehman moment as one of its biggest players collapses. On Tuesday, FTX, the third-biggest crypto exchanges in the world, announced that it will be acquired by Binance. As a result, Sam Bankman Fried has seen his net worth crash from over $16 billion to almost nothing. 

Analysts now believe that decentralized exchanges (DEX) will do well in the coming years. Besides, DEXes have done well during this crypto winter even as CEX companies like Voyager Digital, Celsius, and Vauld have collapsed. So, here are the best DEX tokens to buy as CEX tokens plunge.

Uniswap (UNI)

Uniswap is one of the oldest and is the biggest decentralized exchanges in the world. It exists in Ethereum, Polygon, Arbitrum, Optimism, and Celo. In a given day, Uniswap handles cryptocurrencies worth over $500 million. 

Uniswap has a total value locked (TVL) of more than $3.8 billion, making it the 7th biggest DeFi protocol in the world. UNI, its token, has a market cap of more than $4.3 billion. It is a good investment because of its strong market share in the DEX industry. 

Further, Uniswap is expanding its market share in the industry. Its ecosystem is also growing, with some of the top applications being InstaDapp, PoolTogether, TokenPocket, and Parsec Finance among clothes.

How to buy Uniswap

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.

Buy UNI with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy UNI with Capital.com today Disclaimer

Curve Finance (CRV)

Curve Finance is one of the biggest DeFi platforms in the industry. It exists in Ethereum, Polygon, Arbitru, and Optimism among others. According to DeFi Llama, Curve has a total value locked (TVL) of more than $5 billion. According to its website, Curve has over $4 billion in total deposits in its Ethereum chain. It handles over $1 billion in daily transactions per day.

Curve Finance also owns StableSwap, which is an automated liquidity provider for stablecoins. It offers a Uniswap-like automated exchange with extremely low slippage. Curve Finance will likely continue doing well in the future.

How to buy Curve DAO

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.

Buy CRV with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy CRV with Capital.com today Disclaimer

dYdX (DYDX)

dYdX is an Ethereum DEX that is one of the biggest players in the industry. It handles billions of dollars worth of cryptocurrencies in a month. The platform makes it possible for people to buy and sell cryptocurrencies. It also has a feature that enables people to trade perpetual contracts with no fees for a certain amount.

dYdX is a good investment because of its resiliency during the crypto sell-off. Also, the upcoming upgrade from Ethereum to Cosmos will likely be a good catalyst.

How to buy dYdX

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.

Buy DYDX with eToro today Disclaimer

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy DYDX with KuCoin today

The post Best DEX tokens to buy as CEX coins plunge appeared first on CoinJournal.

MATIC, the native coin of the Polygon network, is down by more than 20% today despite Bepop’s recent launch on the blockchain.

MATIC has lost more than 20% of its value over the last 24 hours. The native coin of the Polygon network has been underperforming since the start of the week and could experience further sell-off in the near term.

The poor performance comes despite Polygon announcing a few hours ago that Bebop, a new decentralised trading platform, has launched on Polygon. 

According to Polygon, Bebop gives users an advantage in fast-moving markets by allowing them to enter or exit multiple positions at once while saving money on network fees.

MATIC’s plunge comes as the broader cryptocurrency market experienced a massive sell-off. The FTX struggles over the last couple of days have wiped out billions of dollars from the market. 

The total cryptocurrency market cap is below $900 billion for the first time in a month, down by 10% in the last 24 hours. Bitcoin dropped below the $18k level but has slightly bounced back and is down by more than 8% today. 

Ether is also down by more than 15% today and is now trading around $1,200 per coin.

Key levels to watch

The MATIC/USD 4-hour chart is extremely bearish, as Polygon has been underperforming over the last 24 hours. 

MATIC/USD Chart By TradingView

The MACD line dipped below the neutral zone earlier this week, indicating that the bears are currently in control. The 14-day RSI of 31 shows that MATIC could enter the oversold region if the selling pressure continues.

At press time, MATIC is trading at $0.9046 per coin. If the sell-off continues, MATIC could drop toward the $0.805 support level for the first time in three weeks.

In the event of an extended selling pressure, MATIC could drop below the $0.6470 support level over the coming hours or days. 

Where to buy Polygon now

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.

Buy MATIC with eToro today Disclaimer

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MATIC with Skilling today Disclaimer

The post Will MATIC rally higher after Bepop launches its trading features on Polygon? appeared first on CoinJournal.

Reef price defied gravity on Tuesday as cryptocurrency prices retreated. The little-known coin surged to a high of $0.0067, which was the highest level since October 20th. It has jumped by more than 20% from the lowest level this week. 

Why is REEF soaring?

Reef, which stands for Reliable Extensible Efficient and Fast, is an Ethereum Virtual Machine (EVM) network. It is an EVM-compatible blockchain network for Decentralized Finance (DeFi). Some of its top features are fast, scalable, and low transaction costs. It was created using the Substrate Framework.

Reef’s ecosystem is growing. Some of the top applications in its ecosystem are Reef app, Reef extension, Reefscan, Subscan, and Reefswap. Reefswap is similar to Uniswap while Swid is the first NFT marketplace in the Reef ecosystem.

Reef price has done well in the past few weeks as investors cheer the network’s expansion. In October, Pax.world selected Reef to be its platform for it metaverse network. Pax offers advanced audio, video, and chat features for the metaverse. 

Reef price also rallied after Isekaiverse adopted its network for its metaverse growth. Isekaiverse is a next-generation decentralized anime metaverse based on the original TV show Mystic Reign. It was established in 2021. In a note, Reef’s founder said:

“Reef is thrilled to welcome Isekaiverse to our expanding ecosystem. This strategic development is focused on supporting the unique idea of Isekaiverse and delivering exciting opportunities to our communities.”

Another key catalyst for the Reef price was the addition of Binance as a validator of ReefChain. That was a major issue since Binance is the biggest crypto exchange in the world. REEF was also listed in Bitget, a leading crypto exchange.

🐠 $REEF is listed on @Bitgetglobal and trading is live!

🏆 Don’t forget to participate in the ongoing REEF trading Competition, $7,000 in REEF up for grabs!

More details: https://t.co/xo7SEF79vB

Trade $REEF / $USDT pair: https://t.co/XMuLY842CT#BuidlTheReef #ReefChain pic.twitter.com/sZXMMxghbq

— Reef – Reliable. Extensible. Efficient. Fast. 🐠 (@Reef_Chain) November 3, 2022

Reef price forecast

Reef price surged to a high of $0.0066, which was the highest level on October 20th. As it rose, the coin surged above the important resistance level at $0.0057. It rose above the 25-day and 50-day moving average while the Stochastic Oscillator is at the neutral point at 50. 

Reef has dropped by more than 12% from the highest level on Tuesday. It has also formed a head and shoulders pattern. Therefore, there is a likelihood that the coin will have a bearish breakout in the near term. If this happens, the next key support to watch will be at $0.0050.

How to buy Reef

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.

Buy REEF with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy REEF with KuCoin today

The post REEF price prediction as it defies gravity appeared first on CoinJournal.