Kategorie: Crypto Analysis

Web3 is a constantly expanding industry and crypto price action tends to favour projects that can adapt to its fast-changing environment. ETC is a classic example of a project that has been left behind due to its inability to scale with the rest of the industry, which has resulted in some pessimistic price predictions for the Ethereum Classic token.

In contrast, the latest Ethereum blockchain (ETH) continues to grow. There are some key differences between the two Ethereum chains, including ETH being home to fast-growing projects like Metacade.

What is Ethereum Classic?

Ethereum Classic (ETC) is a cryptocurrency that was created as a result of a fork in the Ethereum blockchain. Unlike Ethereum (ETH), Ethereum Classic does not support the use of smart contracts. Since ETC is not Turing Complete, developers cannot create decentralised applications (dApps) on the Ethereum Classic blockchain and this has always placed negative pressure on the Ethereum Classic price prediction.

Ethereum Classic is often referred to as “Ethereum’s original chain” because it retains the original Ethereum blockchain. After the Ethereum hard fork in October 2016, Ethereum Classic was kept online by nodes all over the world. This means that crypto users can still make transactions on the Ethereum Classic network, despite Ethereum Mainnet moving in a different direction over the past 6 years.

In recent times, Ethereum Mainnet has made the switch from a Proof of Work consensus mechanism to Proof of Stake. This has reduced the cost of supporting network infrastructure. While ETH is now Proof of Stake, ETC remains a Proof of Work blockchain. The result is that Ethereum Classic is slower and more expensive to run with a block time of 14 seconds and high transaction fees due to its energy-intensive mining system.

Price action lacking in ETC

The current price of ETC is $25.19. Since Ethereum Classic is the oldest Ethereum chain and is restricted by its inability to support dApps, it has much lower transaction activity than Ethereum Mainnet. With fewer people buying the token, ETC price is now a fraction as high as ETH, with poor Ethereum Classic price prediction assessments coming from analysts looking at its mid- to long-term prospects.

Despite this, the Ethereum Classic market cap is over $3 billion. However, the chain’s lack of functionality within the world of Web3 means it has lower growth potential for the long term. In trying to choose the correct Ethereum Classic price prediction, it’ll be important to think about the situation from a development perspective. For developers looking to build exciting digital services using blockchain technology, Ethereum Classic is not an option.

The expected result is that new projects building on ETH will continue to gain value while the Ethereum Classic price prediction shows ETC falling even further in the future. It all boils down to utility.

A New Project in the ETH Ecosystem Making Major Gains

While ETC price action leaves much to be desired due to its lack of functionality, one token that continues to impress is Metacade. Built using the latest Ethereum blockchain, this project offers broad utility to crypto holders who are looking to make the most out of the Web3 user experience.

Metacade aims to support the expansion of GameFi as a core sector of blockchain technology. It is a community-driven initiative that rewards crypto natives for providing value to the ecosystem, among a host of other exciting features that are attracting widespread interest.

What is Metacade?

Metacade is a broad gaming platform that aims to support the expansion of GameFi. Play-to-Earn projects are revolutionising the gaming industry, as players gain financial rewards for the time they spend in-game. This is a core reason why so many are predicting high growth potential for the GameFi sector over the coming years and Metacade is positioning itself as a key player.

Millions Expected to Join the Metaverse

There are many exciting new P2E projects being developed and the scope of what is possible in the metaverse is constantly being expanded. As blockchain technology becomes increasingly more advanced, and the world becomes increasingly more digital, millions of people are expected to jump into the metaverse to enjoy the hottest new Play-to-Earn games.

Supporting GameFi Developers

Metacade supports this expansion directly through its Metagrants program. The community will get to decide which new GameFi projects sound the most promising, and vote to use the Metacade treasury to directly fund the development teams. Metacade’s aim is to drive growth in Play-to-Earn gaming. For innovative developers that have exciting new ideas, this is an extremely valuable service. The Metacade ecosystem could become a hub of technological progress as a result, pushing the limits and ensuring a fresh supply of awesome titles.

Rewarding Play-to-Earn Gamers

In addition to supporting the continued development of blockchain-based gaming, Metacade offers some unique features to P2E gamers in its own metaverse scope. Active members of the Metacade community can earn MCADE rewards for their contributions. This includes sharing tips, tricks, and useful knowledge about how to optimise your GameFi playing experience.

The gaming community is at the centre of Metacade’s plans for the future. The project aims to connect avid gamers with the best Play-to-Earn opportunities, creating a virtual arcade where users can collaborate and share their insights. Power is given back to the community, as players can share their suggestions with game developers directly and earn MCADE tokens in the process.

MCADE vs ETC: Which Token Should You Buy?

While Ethereum Classic continues to hold its price above the $20 mark, investors are favouring projects that support the Web3 ecosystem, giving a relatively negative outlook for Ethereum Classic price prediction.

Ethereum Mainnet, on the other hand, remains the most-used network of decentralised applications, and people are bullish on the long-term future of dApps themselves. ETH stands to fare much better than any Ethereum Classic price prediction currently available, and for good reasons: its upcoming projects.

A prime example of a high-potential project being built on Ethereum is Metacade. Through supporting the expansion of GameFi and offering exclusive benefits to P2E players in an immersive digital world, Metacade is an attractive option for long-term crypto investors.

The MCADE presale is starting out at $0.008 per token. It has high long-term potential, and the price of each token will be increasing as it progresses through presale stages. In contrast, ETC continues to experience slow growth, as the latest Ethereum blockchain offers a vastly improved user experience.

You can buy ETC on eToro here.

You can participate in the MCADE presale here.

The post Ethereum Classic Price Prediction: ETC seems stable whilst Metacade (MCADE) doesn’t stop rising appeared first on CoinJournal.

• Bitcoin and Ethereum rank #1 and #2, respectively by market cap

• Bitcoin is a digital version of currency while Ethereum powers smart contracts

• Both cryptocurrencies are attractive in a bull market

Bitcoin and Ethereum rank as the biggest cryptocurrencies. To an investor, deciding which one to buy can be confusing. However, it should be easy if you understand the role that each plays in the crypto evolution. 

Bitcoin (BTC)

Think of Bitcoin (BTC/USD) as a digital version of your local currency. The biggest cryptocurrency is, however, different since it is based on a peer-to-peer network. It is decentralised, hence distinct from the conventional currencies, which are controlled by states and national central banks.

As money evolves and digitisation takes over, Bitcoin could become the new form of money. That will see it become a means of payment and a store of value. 

Invented in 2009, BTC has immensely grown in value. In 2021, the cryptocurrency tapped an all-time high of above $68,000. That compares to a price of just $500 in 2016 before the cryptocurrency embarked on a sustained surge. Bitcoin now trades above $16,000 after a sustained bear market this year.

Where to buy BTC

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 BTC with eToro today Disclaimer

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 BTC with OKX today Disclaimer

Ethereum (ETH)

Ranked as the second largest cryptocurrency, Ethereum (ETH) is viewed as the epitome of smart contracts. Like Bitcoin, Ethereum is decentralised and acts as a store of value, means of payment, and collateral.

Nonetheless, unlike Bitcoin, which is a dedicated form of digital money, Ethereum aims to power smart contracts, dApps, NFTs, and DeFi. It is also relatively newer compared to Bitcoin since it was created in 2015.

Ethereum price also had its fair share of strengths, reaching nearly $4,800 in 2021. Ethereum traded at less than $10 in 2016 before the start of a sustained climb. It now trades at $1,200 in a bear market. Investors anticipate that a recent move from proof of work consensus to proof of stake could power Ethereum to previous heights when the bull market returns.

Where to buy ETH

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 ETH with eToro today Disclaimer

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 ETH with OKX today Disclaimer

Final verdict

Bitcoin and Ethereum are very strong cryptocurrencies. Their price movement is almost similar, making it difficult to choose one over another. The selection of which cryptocurrency to invest in depends on what you like about each. The technical outlook and fundamentals emerging from each can also help when making a decision.

The post Bitcoin versus Ethereum: Which one should you buy when the bull market returns appeared first on CoinJournal.

• Helium token rose by 36% on Thursday before correcting

• Helium powers IoT devices through its “hotspots”

• The cryptocurrency remains on a clear downtrend

A few cryptocurrencies embarked on relief rallies on Thursday, although a low-cap coin was among the top gainers. Helium (HNT/USD), a cryptocurrency ranked #91 by market cap, rose by 36% before shedding nearly half of the gains by Friday. In an exceedingly bearish crypto market, the small-cap token warranted investors’ attention. What is it?

Helium is a blockchain-powered network that was created in July 2019. It is made to power Internet of Things devices. For instance, it enables wireless devices to communicate and share data through its nodes or “hotspots.” The network also lets users profitably earn by sharing their broadband.

You would be forgiven for thinking that Helium is less used. Companies that use the IoT technology service of Helium include Abeeway, Agulus, and Airly. The network has been witnessing increasing growth and now connects nearly 1,000k hotspots. In September, Helium announced a migration to Solana to grow its ecosystem. That was after more than 6,000 members voted in favour. The goal of moving to Solana was inspired by the need to cut reliance entirely on its network.

While Helium token price could be earning boosts from the recent changes, the price is unconvincing. Trading at just $2.0, HNT remains on a clear downtrend. The cryptocurrency has lost 96% of value since its $57 all-time high price in November 2021. The cryptocurrency faces resistance at the 50-day MA.

Helium token rejected at the 50-day MA

HNT/USD Chart by TradingView

Helium outlook shows the price coming under pressure as it touched the 50-day MA. From the volume indicators, a price spike happened at $1.6, indicating that buyers were very active. The cryptocurrency traded with an intraday 1,500% jump in volumes at the bottom price.

What next for HNT?

Despite the intraday gains, HNT price lacks a clear path to recovery as the trend is still bearish. The gains could be a bull trap, especially after getting rejected at the moving averages.

Where to buy HNT

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 HNT with Binance today

Vindax

VinDAX Exchange has been live for cryptocurrency trading for global users since March 2019. VinDAX focuses on providing exchange services for digital cryptocurrency transcations with high security level, excellent efficiency and well-optmized trading fee.

Buy HNT with Vindax today

The post Helium token jumps 36%. Is this a bull trap? appeared first on CoinJournal.

Cryptocurrency prices recoiled this week as investors reflected on the actions of the Federal Reserve and the collapse of FTX. Bitcoin consolidated at $16,500 while other coins like ETH and LTC moved sideways. This consolidation even as American stocks, especially Tesla, plunged. Here are some of the top crypto price predictions for the weekend.

Lisk | LSK

Lisk is a blockchain project that provides developers with tools they need to build decentralized applications. Its Javascript SDK makes it possible for them to build interoperable sidechains. Lisk has several products, including Lisk Core, Lisk Service, and wallets. Lisk Core enables delegate forging and an API for developers while Lisk Service provides data to its UI clients.

Lisk crypto price rose slightly on Friday as investors bought the token’s dip. On the 4H chart, we see that the token’s price rose from this week’s low of $0.7236 to a high of $0.8665. It moved slightly above the important resistance point at $0.83332. 

The Relative Strength Index (RSI) is approaching the overbought level. Therefore, I suspect that the Lisk price will drop during the weekend and test the support of $0.7200.

LSK/USD chart by TradingView

How to buy Lisk

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 LSK with OKX today Disclaimer

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 LSK with Binance today

Metal Pay | MTL

Metal Pay is a fintech company that simplifies crypto payments. It describes itself as a Bitcoin-type of cryptocurrency with an interface of Venmo. The app makes it possible for people to pay and send money using cryptocurrencies. MTL is the native token for the ecosystem.

On Friday, the MTL price jumped sharply as investors accumulated the token. It rose to a high of $0.8, which was the highest level since December 21. However, as I wrote elsewhere, the main concern for Metal Pay is that its token can be viewed as a security. This means that it will likely get in trouble with American regulators. I suspect that the MTL crypto price will nosedive during the weekend to about $0.60.

MTL/USD chart by TradingView

How to buy Metal Pay

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 MTL 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 MTL with KuCoin today

Litentry | LIT

Litentry is an upcoming Polkadot parachain that won slot #15 in the previous parachain auction. The platform provides decentralized aggregator services that enable user identity across multiple networks. As such, users can link their identities across industries like decentralized finance and on-chain governance. 

LIT price has done well in the past few trading sessions. It has risen from a low of $0.6560 on December 20. It has moved to a high of $0.7298, the highest level in a few weeks. It has crossed the 25-day and 50-day moving averages. Like Metal Pay and Lisk, I suspect that LIT price will drop during the Christmas weekend.

How to buy Litentry

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 LIT with Binance today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy LIT with Swapzone today

The post Crypto price prediction: Lisk (LSK), Metal Pay (MTL), Litentry (LIT) appeared first on CoinJournal.

• Decentraland is one of the biggest players in the metaverse.

• But its population is less than 1,000 people.

The metaverse is dead! MANA price has crumbled in 2022 as investors assess the state of Decentraland’s ecosystem. The token was trading at $0.3140, which was about 95% below its all-time high. In this period, the token’s market cap has plunged to about $582 million. At its peak, Decentraland had a market cap of over $7 billion.

Decentraland is dying

The metaverse was pitched as the best use-case for the blockchain technology. For a while, the concept appeared to work well as the number of people using the technology surged. At the time, most metaverse-associated tokens like Decentraland, Sandbox, and Enjin Coin surged to record highs.

The industry was supercharged after companies like Meta Platforms and Nvidia moved into the industry. It also expanded as some individuals and companies decided to spend a fortune buying metaverse property.

This year, however, the industry has changed as the number of people using the technology has crashed. Recent data shows that the actual population of Decentraland totals about 810 while the number of NFT buyers in the ecosystem stands at 3,668. Data by Nansen shows that Decentraland’s population is actually much smaller than that at 526, as we wrote here.

With such a small and shrinking population, there are concerns that Decentraland is dying unless a miracle happens. A possible factor that could see the network resurrect is events that could attract thousands of users.

However, as we saw earlier this year when Decentraland hosted a fashion event, the industry is still young. The event attracted well-known brands like Forever 21 and Balenciaga but users had a tough time navigating the platform.

For MANA price to recover, it also needs for the broader crypto industry to bounce back. If this happens, there is a likelihood that it will recover because of the close correlation that exists in the crypto industry.

MANA price prediction

MANAUSD chart by TradingView

The daily chart shows that the Decentraland MANA price has been in a strong bearish trend in 2022. This drop culminated in it falling below the important support level at $0.6057, which was the lowest level in May. It has also plunged below all moving averages while the Relative Strength Index (RSI) has moved to the oversold level.

Therefore, MANA crypto will likely continue falling as sellers target the next key support level at $0.1500. A move above the resistance point at $0.60 will invalidate the bearish view.

How to buy Decentraland

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 MANA with eToro today Disclaimer

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 MANA with OKX today Disclaimer

The post MANA price needs a miracle to recover: Here’s why appeared first on CoinJournal.