Kategorie: Crypto Analysis

• FTM price rose modestly ahead of the upcoming US inflation data.

• It has also done well as traders wait for the upcoming fUSD stablecoin launch.

Fantom (FTM) price made a small comeback on Tuesday as investors waited for the upcoming American consumer inflation data. It rose to a high of $0.4780, which was a few points above this week’s low $0.4138. This price is about 30% below its highest point in 2023.

US consumer inflation data ahead

The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday. Economists expect the data to show that the country’s inflation inched downwards in January as goods prices retreated.

According to Reuters, the median estimate among economists is that the headline consumer price index (CPI) declined from 6.5% in December to 6.2% in January. This will be the seventh straight months that inflation has moved downwards. 

Core inflation, which is an important number that excludes the volatile food and energy prices, is expected to have dropped from 5.7% in December to 5.6%. These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum.

They will also have an important role for other financial assets like stocks and commodities. Their impact is that they will have an impact on the Federal Reserve. Higher-than-expected inflation numbers, coming a week after the US published strong jobs numbers, will mean that the Fed will be more combative.

On the other hand, if inflation softens, there is a likelihood that the Fed will be a bit dovish in its bid to prevent a hard landing. Besides, the yield curve has inverted to the lowest point since the 1980s, signaling that a recession could be coming.

Meanwhile, Fantom price is reacting to news that the developers are working to rebuild the network after the challenges we wrote about here. One of the projects the developers are working on is a stablecoin known as fUSD that will power its ecosystem. The news was recently confirmed by Andre Cronje, an influential figure in the ecosystem.

Fantom price prediction

On the 4H chart, we see that the FTM price has crawled back in the past few days. It has moved from a low of $0.4172 to a high of $0.4827. Still, the coin remains below the 50-period moving average. It has also moved slightly below the 38.2% Fibonacci Retracement level. 

A closer look shows that it is forming a bearish flag pattern. Therefore, the coin will likely have a bearish breakout, with the next key level to watch being at $0.40. A move above the resistance point at $0.50 will invalidate the bearish view.

How to buy Fantom

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.

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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 FTM with Binance today

The post Fantom (FTM) price rebounds ahead of US inflation data appeared first on CoinJournal.

The US CPI data is the main economic event of the trading week. Inflation has been the main driver of monetary policy for more than a year now; thus, every market participant is on standby until the data comes out.

Crypto traders enjoyed a nice rebound of the entire market at the start of 2023. Bitcoin, for example, rallied close to $24k, where it met resistance.

Bitcoin’s adoption by many institutional investors made it sensible to US economic data. In other words, the US dollar’s volatility moves Bitcoin too. Therefore, today’s inflation data is a key driver not only for the fiat currencies but also for the cryptocurrency market because of Bitcoin’s influence on the overall crypto market.

BTCUSD chart by TradingView

Head and shoulders pattern points to a drop below $19k

Crypto enthusiasts cheered the strong start to the trading year as Bitcoin rallied aggressively. But in doing so, Bitcoin only followed the overall US dollar’s weakness seen across the FX dashboard.

If the US CPI report for January shows renewed inflationary pressures, the US dollar should surge across the dashboard.

On such a release, the market should buy the dollar in anticipation of further tightening from the Fed. Hence, the dollar should pressure Bitcoin.

From a technical perspective, there is one head and shoulders pattern that should keep bulls at bay. The market currently consolidates above the neckline, and if the dollar gets stronger after the CPI report, then the pattern’s measured move points to a drop below $19k.

The market should not climb above the highest point in the previous head and shoulders pattern for the pattern to work. More precisely, it should remain below $23,500 for the bearish pattern to remain valid.

The post Bitcoin awaits US CPI data; head and shoulders paints a bearish picture appeared first on CoinJournal.

• CRV is the best performer amongst the top 100 cryptocurrencies by market cap today.

• The rally comes as the broader cryptocurrency market continues its poor start to the week.

• CRV could rally toward the $1.2 resistance level in the near term.

Curve DAO Token outperforms the market

CRV, the native token of the Curve DAO ecosystem, is the best performer amongst the top 100 cryptocurrencies by market cap today. 

The rally comes thanks to the anticipation of Curve DAO launching its dollar-pegged stablecoin. The stablecoin is set to launch in June. Curve DAO revealed on Monday that an ongoing proposal would be required for crvUSD to function autonomously.

If the proposal passes, stablecoin pools will be able to supply pricing data to external protocols

Needless to say – this is required for crvUSD to function autonomously https://t.co/GFA5aXAjv0

— Curve Finance (@CurveFinance) February 13, 2023

This latest cryptocurrency news has seen CRV rally over the last 24 hours. At press time, the price of Curve DAO stands at $1.06, up by more than 14% in the last 24 hours.

The rally comes as the broader cryptocurrency market continues its poor performance this week. The total cryptocurrency market cap stands at $1.01 trillion, down by less than 1% in the last 24 hours.

Key levels to watch

The CRV/USD 4-hour chart has turned bullish as Curve DAO has been outperforming the broader cryptocurrency market over the last 24 hours. The technical indicators show that CRV is performing better than BTC and ETH at press time.

The MACD line recently crossed into the positive zone, indicating that CRV is currently bullish. The 14-day RSI of 64 also shows that CRV could soon enter the overbought region if the rally continues.

If the rally is sustained, CRV could surge past the first major resistance level at $1.18 before the end of the day. However, it would need the support of the broader cryptocurrency market to reach the $1.35 resistance level in the near term.

Where to buy Curve DAO Token now

eToro

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

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The post Curve Dao Token (CRV) soars by 14% today: Here is why appeared first on CoinJournal.

News headlines are filling up with claims that cryptocurrency investment is stoking a class war, with allegations that it is becoming an elitist pursuit inaccessible to people with less disposable income. With the recent collapse of FTX wiping out billions in assets and disproportionately affecting the regular Joe in the street, talk of a crypto class war has only intensified.

With some leading crypto coins, such as SOL, beginning to show signs of improvement following the FTX collapse, which precipitated price crashes across markets, new crypto projects such as Metacade are working hard to create offers that help its investors benefit in a variety of ways.

What is Metacade?

Metacade is a brand-new player in the world of metaverse gaming. Its plans combine the past, present, and future in one exciting hub, to attract like-minded gaming enthusiasts and build the metaverse’s biggest gaming community. 

Among its legion of titles will be classic arcade games, the most compelling play-to-earn (P2E) titles, and exciting new games pushing the boundaries of Web3 and blockchain. Its exciting roadmap is set to revolutionize metaverse gaming well beyond its own platform, with innovation leaking into the wider Web3 world.

Although Metacade relies on an unparalleled P2E capability to funnel users onto the platform, several other exciting earning features will be provided to the community through the Create2Earn program. Community members are incentivized to create content on the hub by offering crypto rewards for every interaction. These can range from sharing alpha to participation in live chats, writing game reviews, and sharing the latest in-game tips.

In addition, users can stake the native MCADE token to enter online tournaments and lucrative prize draws through the Compete2Earn initiative. From Q1 2024 onwards, the Work2Earn scheme will also offer community members access to apply for gig jobs, paid beta testing, and exciting full-time Web3 career opportunities posted on the hub’s external job board.

Metacade: Driving GameFi innovation

One of the most exciting features Metacade is bringing to the metaverse gaming sphere is the Metagrants scheme – a critical facet of its plans to help give direction to the GameFi revolution, beyond the confines of their platform.

Launching in Q3 2023, developers are invited to apply for funding to support creating and developing exclusive P2E titles for release on Metacade. Each application is pooled and presented to the MCADE community, who vote for their favorites. The most popular submissions are granted funding to help turn ideas into reality, with the first new titles due for release in Q1 2024.

Metagrants will grant true autonomy to the Metacade community, in helping control the platform’s ultimate destiny and direction. Members gain full voting rights over which games get made, meaning they remain engaged with the platform throughout the process and get first dibs on playing new games they are excited to experience. The system is guaranteed to draw attention, and a new generation of GameFi fans, to the growing selection of P2E titles.

The Metagrants program is funded by the platform’s self-sufficient economy, which gains its revenue from several different sources, both internal and external. Community users can contribute via the Compete2Earn tournament entry fees, staking MCADE coins to support the infrastructure, and accessing pay-to-play titles. At the same time, external funding is generated via adverts on the platform, the release of non-Metacade-created games, and the hosting of job adverts from outside Web3 companies.

Is MCADE a safe investment?

Metacade developers learned significant lessons from the collapse of FTX and other big-name crypto failures, and have taken extraordinary steps to insulate the platform from volatile activity. 

Metacade has taken into account the issues affecting SOL in the aftermath of FTX’s fall from grace and the concerns of a crypto class war. Solana, which had close ties to FTX, lost over 50% of its market value in November because investors feared Sam Bankman-Fried had drained their wallets as well.

In order to protect investors from bad actors, Metacade’s team has been fully verified by the rigorous CertiK audit, which has substantively assured the quality and security of the platform’s code, team and contracts.

Metacade has put its community at the heart of everything Metacade does. Investors can feel safe not only because Metacade’s treasury is held in a multi-signature wallet, meaning two or more private signatures are required to send transactions, but also because Metacade does not have access to users’ wallets. These extra security measures make Metacade a safe investment.

MCADE: Sharing the wealth

All of these steps aim to protect the investment of all users, not just those with deep pockets. Metacade’s plan helps ensure that as Metacade grows in value, the value of every investor’s MCADE holding grows as well. In addition, unlike more expensive coins such as SOL, currently trading at $23.36, MCADE’s price is much more accessible for everyone.

Far from being part of any perceived crypto class war, MCADE’s current value of $0.014 is available to investors of all backgrounds, allowing them to share in the wealth. The presale event, which raised a phenomenal $5m in its first 10 weeks, has now raised $6.2m, continuing its enormous momentum. 

With the value of MCADE rising to $0.02 before being listed on exchanges, predictions are that demand will be high when it hits exchanges, so the presale is an opportunity not to be missed and investors are advised to move early to receive the best returns.

You can participate in the Metacade presale here.

The post As Talk of a Crypto Class War Makes Headlines, Companies Like Metacade Look to Share the Wealth appeared first on CoinJournal.

There’s no question that GameFi is a burgeoning area of Web3 and one of the areas most likely to be positively impacted by the benefits of blockchain infrastructure and decentralized finance (DeFi), especially when play-to-earn (P2E) gaming is taken into consideration.

Although there are numerous projects already in the GameFi space, it’s the disruptive newcomer Metacade (MCADE) that is really making waves due to the high potential of the project and the projected returns for investors quick enough to secure their MCADE tokens in its presale.

But why does Metacade show so much potential, and why does the project have investors believing it could be a leader in the GameFi revolution?

Metacade is an unbelievably good investment opportunity

Metacade has released a groundbreaking plan to deliver an incredible set of features, putting the project in pole position to establish itself at the core of the GameFi arena. These plans, released in the form of a comprehensive whitepaper outline the project’s cohesive plan to disrupt gaming, giving gamers the ability to earn an income for playing games in a huge and helpful community hub.

At the heart of the Metacade ecosystem is the most impressive component of the platform — its flagship play-to-earn (P2E) arcade. The blockchain gaming arcade will offer the biggest selection of arcade games online and, in doing so, distinguishes the Metacade platform from the vast majority of GameFi.

It’s this differentiation that is getting many investors excited; most GameFi projects struggle to keep their user base engaged because all activity is focused around a single game. With Metacade having a vast collection of arcade games online, it means that the project is far more likely to keep users active as they play a host of different titles in the arcade.

How high could MCADE go in 2023?

The price of MCADE is likely to be tied to its platform usage, as the token will be essential for accessing key features. With an ever-growing library of games, Metacade is expected to continually attract new users to the platform. In this case, the token will remain in demand, which is an attractive quality for investors. 

Additionally, Metacade’s robust roadmap has well-considered features, like buybacks and token burns, that will likely help maintain the value of MCADE tokens in the future.

With such excitement across investment groups, it is likely that prices will jump dramatically when the token is released to the public as more and more investors are concerned about missing out secure their MCADE tokens. 

Metacade is expected to establish a high market cap in 2023 as a result of the inevitable user growth, meaning that if it were able to achieve just 25% of Axie Infinity’s all-time high market cap of $10 billion, it would mean that the price of the MCADE token would smash through the $1 mark.

Is cryptocurrency a good investment?

Cryptocurrency markets can be more volatile than other, more established assets, and that can sometimes lead novice investors to question whether cryptocurrencies are a good investment at all. In fact, there has been no better investment class over the last decade, with $100 invested in 2013 now worth more than $150,000.

All asset classes have had a tough time with the global economic turmoil, but with many experts suggesting that now may be the bottom of the market, it’s a perfect time to buy to maximize the gains made if you can find the best crypto to buy now.

What is Metacade?

Metacade has a clear ambition to deliver the largest P2E arcade, complete with the most diverse collection of arcade games online, to allow gamers to earn an income for playing their favorite titles.

The Metacade project has created a stir thanks to the stunning success of the presale, raising a staggering $5 million in just the first 10 weeks. Since then, the project has shown no signs of slowing down, having continued on to $6.2m as investors flock to secure their MCADE at discount presale prices.

How does Metacade work?

Metacade users can benefit from its extensive rewards system thanks to the robust external revenue streams. The platform will make money through paid advertisements and job listings on the site, and for access to Metacade’s gaming community. External gaming companies will also be charged a fee to launch their games on the platform. Revenue will be generated internally through pay-to-play games and tournament entry fees.

The MCADE token is the currency used throughout the platform, both for rewards and all other value exchanges. The token also benefits from staking options which are likely to reduce the circulating supply as investors who see the long-term potential stake their tokens for a passive income.

Metacade’s Metagrants scheme will empower MCADE holders to vote on the distribution of funding for game development. With talented game development teams able to pitch their ideas directly to the community, this program brings the entire community together while also driving user growth and retention.

Why should investors invest in Metacade?

Metacade looks set to be at the forefront of the GameFi revolution, and so the extremely low prices of MCADE available during the presale are a rare opportunity to get in very early on a project that has the potential to dominate a sector growing aggressively.

With 100x gains looking very possible, the presale that is already seeing so much attention is likely to sell out before long. Who can be surprised with MCADE is shaping up to be one of the best cryptos to buy now?

You can participate in the MCADE presale here.

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