XRP attempts recovery, but how is the SEC case shaping price?

  • XRP price has remained tied to the ongoing Ripple case with SEC

  • SEC recently filed a motion to restrict the Hinman documents

  • $0.40 is the level to watch on the bull side or $0.30 on the bear side

Ripple (XRP/USD) has been on a short recovery since falling below $0.34. Despite losing an intraday of 3.20% as of press time, it looked stable even as Ripple’s case with SEC drags on.

For a long time, the SEC’s case has been a price driver for XRP. However, recently, investors have adopted a wait-and-see attitude amid speculations that the case was nearing an end. Up to this point, nothing is confirmed yet, but the ongoing legal tussles shape XRP trading.

The latest development in the longstanding case involved the SEC filing a motion to restrict the Hinman documents. SEC lawyers allege that the documents should be protected from the public since they carry sensitive matters. It should be remembered that Ripple has often called for the documents to be made public. If the SEC’s wish is granted, that could be a blow to Ripple. 

With XRP continuing to reflect the case, it is obvious that any win for the SEC will hurt the token’s price. Consequently, Ripple will come under bear pressure. Similarly, a win for Ripple would increase speculations of SEC getting defeated at the end and boost XRP. That could see the cryptocurrency resume the uptrend.

XRP trapped by $0.40 resistance but holds strongly above $0.30 support

XRP/USD Chart by TradingView

From the technical outlook, XRP is trading within a range. $0.40 is the resistance at $0.30 is the support. Any break above or below these levels will spell a win for bulls and bears, respectively. Momentum is, however, improving, with the MACD indicator shifting above the signal line. The indicator still shows XRP is bearish.

What next for XRP?

XRP price will be determined by the developments around Ripple’s case with SEC. To a technical reader, it is important to buy the cryptocurrency on a confirmed breakout.

Where to buy XRP

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 XRP with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy XRP with OKX today

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Altcoin Price Prediction 2030: Cronos (CRO), Polygon (MATIC) and Metacade (MCADE)

Making an altcoin price prediction for 2030 is an almost impossible task. Many experts don’t know where the crypto market will even be next year, which makes any long-term predictions particularly challenging. 

However, the success of a project can be determined by its utility. And three projects that have great utility are Cronos (CRO), Polygon (MATIC), and Metacade (MCADE). Each has the potential to revolutionize an industry and change the way people interact with Web3. Here’s what the altcoin price prediction for each could be in 2030. 

What is Metacade? 

Metacade is setting itself up to be a gaming-centered platform, aiming to bring together developers, gamers, and crypto enthusiasts to collaborate and create new ideas in the world of play-to-earn (P2E) gaming. Built on the Ethereum blockchain, it will offer users a unique community hub where they can play games, interact with others in real-time, and be rewarded for their contributions with the native $MCADE token.

One of the key features of Metacade is the Metagrants fund, which will allow developers to submit proposals for game development and receive funding if their proposal is voted the best by $MCADE holders. This innovative initiative is set to launch in 2023 and will help drive the growth and development of the platform.

In 2024, Metacade will also launch a job board as part of the Work2Earn initiative. This feature will provide users with access to gigs, internships, and jobs in the gaming industry and beyond, giving them the opportunity to connect with top employers.

To further boost income and ensure that each area of the platform runs smoothly, Metacade has implemented a staking mechanism that rewards community members for their participation and contributions. This innovative approach helps to build a community where everyone can benefit and profit.

As the platform grows and evolves, Metacade has set its sights on becoming a fully decentralized autonomous organization (DAO) in 2024. This ambitious goal will see the platform transition into a DAO and achieve DAO governance, putting the power firmly in the hands of the community.

How does $MCADE work?

$MCADE is Metacade’s governance and utility token. It’s built on the Ethereum network and is used for prize draws, tournament rewards, and payments within the ecosystem. It’s also used to reward those who contribute to the platform. 

$MCADE is being sold over 9 presale stages, in which 70% of the token supply will be available. The remaining tokens will be split as follows:

  • 12.5% marketing and CEX listings 
  • 10% development team
  • 5% DEX liquidity provision 
  • 2.5% competition rewards

Metacade (MCADE) Price Prediction For 2030

Metacade is currently priced at $0.01 in its 1st stage presale round and will reach $0.02 by the end of presale stage 9. By 2025, it could become a household name, rising to a forecast high of $2 while pioneering the future of Web3 gaming. This would make it a strong investment compared to other altcoin price predictions for 2023.

During the first four weeks of its presale, Metacade raised almost $1.25 million, setting it up for long-term success. With the project looking realistic in delivering its achievable roadmap, Metacade could easily reach highs of $25 by the end of 2030.

Polygon (MATIC) Price Prediction For 2030

One great altcoin price prediction is Polygon. Polygon (MATIC) is a DeFi project designed to improve the scalability of Ethereum. It lets developers build scalable, user-friendly decentralized apps (dApps), with low transaction fees and the highest level of security. 

To achieve this, Polygon combines the best features of Ethereum with sovereign blockchains to create a full-fledged multi-chain system. By combining these features, Polygon ensures dApps can fully benefit from the Ethereum network whilst being secure, open, and more powerful. 

Polygon’s token, MATIC, has experienced a 58.69% decrease in price over the past 12 months and is currently valued at $0.864. Analysts predict MATIC could increase to $12.34 by 2030, however many are skeptical about this rise. 

Cronos (CRO) Price Prediction For 2030

Another positive-looking altcoin price prediction is Cronos. Cronos is a decentralized, open-source public blockchain designed to be energy efficient while guaranteeing high transaction speeds at a low cost. The aim of the project is to support the creator economy, working as the foundational infrastructure for DeFi and GameFi, and, eventually, an open metaverse. 

Its native token, CRO, is used for trading on Crypto.com, one of the world’s largest crypto exchanges. It is used for transactions throughout the platform and can also be purchased on other exchanges. 

CRO is currently worth $0.06107, down 88.66% in the last 12 months alone. Analysts suggest that CRO could increase to $5.94 by 2030, however, given the recent exchange scandals, many investors are wary about buying cryptocurrencies linked to an exchange. As a result, this number may not be as high as first predicted. 

Conclusion – Metacade Looks Set to Climb

In conclusion, all three of the altcoins mentioned in this article – Cronos (CRO), Polygon (MATIC), and Metacade (MCADE) – are possible investments with the potential to revolutionize their respective industries, with investor sentiment having a great effect on their price predictions.

However, based on its utility as a gaming platform, strong token performance during its presale, and ambitious roadmap, it appears that Metacade (MCADE) is the clear winner. It has the potential to reach highs of $25 by the end of 2030, making it a stronger investment than many altcoin price predictions for 2023 and one that should be closely watched in the weeks ahead.

You can buy Cronos and Polygon at eToro here.

You can participate in the Metacade presale here.

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Bitcoin price vs Tesla stock: Which is a better buy in 2023?

  • Bitcoin price outperformed Tesla in 2022.

  • The two assets faced numerous challenges during the year.

  • Bitcoin seems like a better investment in 2023.

Bitcoin price has had a terrible performance in 2022. It has crashed by 64% this year, making it one of its worst year on record. Tesla is doing much worse. Down by 74% in 2022, the company is having its worst year and quarter ever. Bitcoin’s market cap has crashed to about $320 billion while Tesla has moved from over $1 trillion to about $344 billion.

Bitcoin vs Tesla

Tesla and Bitcoin are two significantly different financial assets. Bitcoin is a cryptocurrency that wants to replace fiat currencies while Tesla is an automotive disruptor that wants to end internal combustion engines (ICE).

Yet the two assets have a lot of similarities. They are both disruptors in their respective industries and have a lot of fans internationally. Elon Musk loves the two assets. 

Further, they are both emblematic of what happens when interest rates are left low for so long. After the Global Financial Crisis (GFC), central banks, led by the Federal Reserve, embraced an easy-money policy in a bid to support the economy. But rates remained so low for so long, leading to an era of irrational exuberance, as we wrote here.

Another similarity between Bitcoin and Tesla is that they are both facing significant competition. There are now over 20,000 cryptocurrencies seeking to dethrone BTC. Similarly, the number of EV startups is growing remarkably, with most traditional EV companies shifting to the EV model.

Why BTC and Tesla collapsed

Bitcoin price collapsed because of high-interest rates and the challenges in the crypto industry. The biggest scandals in the industry were the collapse of Terra, which helped fuel the bankruptcy of Voyager Digital, FTX, and Celsius. 

Tesla, on the other hand, is facing serious competition while its CEO has been disrupted by his acquisition of Twitter. Analysts believe that his divided attention has played a significant role in the collapse of his net worth by more than $120 billion. 

Further, Tesla is facing significant competition while demand for its cars has declined significantly in the past few months. Soaring inflation has made car sales drop.

Better buy between TSLA and BTC in 2023

So, which is a better buy between Tesla and Bitcoin in 2023? As the economy faces a triple whammy of high-interest rates, slow growth, and elevated inflation, the two will likely struggle in 2023. However, because of valuation metrics and market share, I think Bitcoin is a better investment than Tesla. 

As Tesla moves from a growth company to a value stock, it will need to be priced much lower. For one, companies like General Motors and Ford are valued at under $50 billion. Bitcoin, on the other hand, has proven to be a market leader in its industry despite facing significant competition.

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Filecoin price pumps but product concerns remain

  • Filecoin price went parabolic in thin trading volume.

  • There are concerns about the utility of the platform.

Filecoin price popped to the highest level since December 16 despite the rising risks of its utility. It rose to a high of $3.31, which was much higher than the year-to-date low of $2.3. Other storage tokens like Siacoin and Storj also rebounded.

Filecoin utility challenges

Filecoin is the biggest storage blockchain platform in the world. Like other storage platforms, its use case is relatively simple to grasp. Unlike centralized storage platforms like Google Cloud and Microsoft Azure, it uses decentralize storage platforms.

Anyone with a computer, smartphone, or data center can provide storage in its platform and then earn a reward when people use it. This data is safely stored in their network in a highly encrypted format. 

The benefit of using a decentralized platform is that it is highly scalable. For a person in Nairobi, they will access their data from a storage provider in the city. Similarly, for a person in Washington, they will store and access their data from someone in the city.

According to its data explorer, there are 3,920 active miners in the network who provide 19.069 EiB in its platform. This is a significant number that is more than 21.9 million terabytes.

Still, Filecoin faces several important challenges. First, the network is competing with well-established brands like Microsoft and Google. These centralized platforms work well and have a long track record of safety.

Second, it is clear that it has a significantly big capacity that is hard to use. One of its biggest use cases is in the storage of Non-Fungible Tokens (NFT) through its partnership with OpenSea. Recently, however, the volume of NFTs traded per month has dropped sharply. Therefore, without a clear use case, it will take a miracle for Filecoin to become a successful platform.

Filecoin price prediction

FILUSD chart by TradingView

The daily chart shows that the FIL price made a strong bullish breakout on Tuesday as investors bought the token’s dip. It moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved to the overbought level. It has also formed what looks like an inverted head and shoulders pattern.

Therefore, despite the H&S pattern, Filecoin will likely resume the bearish trend as fundamentals disappoint. A move above the resistance at $3.50 will invalidate the bearish view.

How to buy Filecoin

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 FIL with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy FIL with OKX today

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Is Lido a good crypto to buy as it defies gravity?

  • Lido price has made a spectacular recovery recently. 

  • Its total value locked has held steady at $5 billion.

Lido price has defied gravity in the past few weeks as activity in its network holds steady. The LDO token was trading at $1.06 on Tuesday, which was the highest it has been since December 16. It has risen by more than 22% from the lowest level this year.

What is Lido?

Lido is a leading platform in decentralized finance (DeFi) that makes it possible for users to stake coins and earn rewards. It is the biggest liquid staking protocol, where it lets users stake coins like Solana, Ethereum, Polkadot, Kusama, and Polygon. 

Lido has become highly popular among users in the past few months. It has become the biggest holder of Ethereum staking pool where it holds over 4.8 million ETH that provide an APR of 4.6%. It is also the biggest Polkadot pool operator witb over 2.47 million DOT valued at over $11 million with a yield of 14.3%.

Lido faced numerous challenges in 2022. The biggest one was the collapse of Terra and its ecosystem. Before the collapse, Lido was one of the biggest holders of Terra token. As a result, the total value locked (TVL) locked in its ecosystem plunged from over $20 billion to about $5.9 billion.

Lido’s performance, while weak, has been relatively stronger than other cryptocurrencies. This is likely because investors believe that its yield solution is better than those provided by centralized protocols. Some of the top centralized platforms that collapsed in 2022 were BlockFi and Celsius.

Another crypto news was Lido’s collaboration with SSV network to create a distributed validator technology. The developers launched the pilot test for the new solution in December.

Lido price forecast

LDO chart by TradingView

The four-hour chart shows that the LDO price has made a spectacular recovery in the past few days. As it rose, it managed to move above the important resistance point at $0.992, the lowest level on December 12. It also crossed the psychological level of $1.

The coin also moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved to the overbought point at 80. Therefore, the token will likely continue rising as buyers target the next key resistance at $1.2. A drop below the support at $0.992 will invalidate the bullish view.

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