Kategorie: Crypto Analysis

Any crypto crash can sting and a lot of coin holders have been feeling the hurt recently. The situation has left quite a few investors overexposed with tokens that were bought near the top of the bull market. As such, some are now reluctant to hop back into new investments.

That being said, bearish conditions are always full of prime opportunities. At times like these, solid tokens tend to be underpriced and have more potential than ever. And after 90% price reductions in the crypto crash across the board, there are some great options for crypto investors who are ready to get ahead and prepare for the next bull market.

This article will be analysing 5 of the best altcoins to buy before the reversal. These tokens have high potential for the future and can each make major gains for your portfolio.

#1 Metacade (MCADE) – Casual Play-to-Earn Gaming – Best Altcoin to Buy 2023

Metacade aims to become the largest on-chain arcade in the metaverse. The project is largely driven by the community and aims to become a decentralised autonomous organisation (DAO) over time. The platform already looks destined to become a major project to rival some of the biggest GameFi titles around, such as Axie Infinity and Decentraland.

As well as offering a variety of play-to-earn games, Metacade provides an all-in-one location for GameFi enthusiasts that offers some ground-breaking features. 

Gamers can earn in a number of unique ways, including sharing their gaming knowledge. Metacade will reward users for contributing to the community, through posting reviews, helping other players, and doing beta-testing for games that are still in development. Through this and other means, Metacade users earn the native token – MCADE.

Metacade is also a place to bring gamers and game developers together. In particular, game developers can propose their project to the community to be awarded funding via Metagrants. Voting on the game proposals is done through the MCADE token, giving it an additional use case.

MCADE has a fixed total supply of 2,000,000,000 tokens with 70% of this total being made available for the presale. Having a fixed supply gives MCADE deflationary tokenomics, which can be extremely beneficial due to the natural relationship between supply and demand. Fixed supply, combined with increasing demand, can result in a continually rising price because the token becomes more scarce.

By offering gamers extensive earning opportunities and supporting the continued development of the blockchain gaming community, MCADE offers enormous value. For now, the token seems undervalued and its presale price action reflects this. With potential gains of over 100% made in suboptimal market conditions, Metacade looks set to become a major player in GameFi over the coming years and is a deserving winner of the #1 crown on our best altcoins to buy list for 2023.

>>> You can participate in the MCADE presale here <<<

#2 Binance (BNB) – Global CEX

Binance is a global cryptocurrency exchange that provides a platform for trading 600 digital currencies. The native token of the platform, BNB, was created to fund development and provide liquidity for traders. The token is used to pay fees and can also be used to buy goods and services using the Binance VISA debit card.

BNB is currently the 5th largest token by market cap and Binance exchange is 1st out of all CEXs by total volume traded. A CEX is a centralised exchange. CEXs differ from decentralised exchanges (DEXs) in that all trading services are controlled by a central entity instead of being controlled by smart contracts and automated market makers, and all tokens are held in wallets owned by this central entity as opposed to being held by individuals.

BNB token has some unique characteristics. Supply is deflationary, in that no more tokens can ever be minted and it also has a burning mechanism that continually reduces circulating supply over time.

Initially, BNB had 200,000,000 tokens. Since the project was founded in 2017, Binance has been burning a percentage of all fees on a quarterly basis. As of July 2022, almost 20% of the total supply had been burned and the circulating supply now sits at approximately 160,000,000 BNB. This process will continue until 50% of the original supply has been burned.

CEXs provide a useful service to crypto holders. There are a range of trading services available, including derivatives, lending, staking, and borrowing. Binance, being the biggest CEX, attracts many millions of users and has the potential to keep growing as the industry continues to expand.

If Binance CEX continues to grow, then you can be sure that more people will buy BNB to take advantage of the benefits being offered on the platform. Combined with the token’s unique tokenomics, including its burning mechanism, this has a promising long-term result on the price of BNB. Increased demand and continually reducing supply means price is destined to rise, which is why we’ve put BNB as 2nd on our list of best altcoins to buy 2023.

#3 Polygon (MATIC) – dApps at Scale

Polygon is a decentralised platform that brings Ethereum to scale. The network has an innovative scaling solution called Matic Plasma, which enables higher transaction throughput and lower fees. Matic Plasma uses sidechains to help reduce Ethereum’s high fees and in the process creates a better user experience for decentralised applications (dApps) in the Web3 ecosystem.

Since Polygon is a Layer 2 scaling solution for Ethereum, it has a number of key technical characteristics. Built on top of Ethereum’s Layer 1, the Polygon ecosystem has the same high level of security as Ethereum. Through its innovative sidechain solution, it can provide faster finality and deliver near-0 transaction fees, which serve to enhance the usability of the standard Ethereum blockchain.

The native token for the Polygon network is MATIC. It is used for transaction fees and to secure the network with rewards for validators. The token has a maximum supply of 10bn MATIC and a circulating supply of 8.7bn.

MATIC improves the user experience for platforms built on Ethereum – the largest infrastructure for decentralised applications in Web3. Since it can process a high number of transactions at a low cost, Polygon is used as the network of choice for many up-and-coming blockchain games.

GameFi relies on digital economies to provide liquidity for Play-to-Earn rewards. These economies process a high number of transactions by design and Polygon is perfectly suited to provide this service due to its optimised user experience.

Blockchain games can offer unique benefits to gamers and the domain is expected to keep expanding throughout the wider gaming industry. With that in mind, MATIC represents a prime investment for the future, as it is integral to a network that is destined to attract a high number of users over the coming years.

#4 LooksRare (LOOKS) – NFT Marketplace

LooksRare is a blockchain-based platform that enables the creation, collection, and trading of digital art and other collectibles. It is a new NFT marketplace that was launched in January 2022. The platform is home to top collections of digital artwork, including Bored Ape Yacht Club (BAYC) and CryptoPunks.

LooksRare offers a wide range of features and tools to help discover new pieces and participate in online auctions. The platform also supports the creation of non-fungible tokens (NFTs), which can be used to represent any type of collectible item on the LooksRare platform. It’s a flexible platform that provides a useful service to NFT enthusiasts.

LOOKS is the native token for the LooksRare platform. It has a number of key use cases. Among them are high percentage rewards for traders who have listed NFTs for sale on the platform.

The maximum supply for LOOKS is 1bn tokens. The current number of tokens in circulation is approximately 47% of this amount at 470,000,000. According to the LooksRare whitepaper, the total supply of LOOKS tokens is set to reach its maximum supply 2 years after the LooksRare platform was launched, which will be at the beginning of 2024.

LooksRare offers a more profitable incentive system for people selling NFTs. If a digital art collector wants to list an NFT from one of the platform’s supported collections, they can earn rewards every 10 minutes. Over time, these rewards can compound, and sellers can earn a high percentage APY for choosing the platform over alternative NFT marketplaces.

Digital artwork is expected to grow in popularity over the coming years. Additionally, LooksRare supports the buying and selling of any kind of NFT. So, as NFT technology becomes more widely adopted across gaming and other blockchain domains, then the LOOKS token could perform very well over the coming years.

#5 Avalanche (AVAX) – DAG Technology

Avalanche is a blockchain platform that enables users to create, transfer, and hold digital assets. It is a Layer 1 blockchain with a unique and innovative consensus protocol that is based on the Avalanche-Algo Consensus Engine (ACE). This mechanism uses a directed acyclic graph (DAG) to achieve consensus, which enables the network to process a high number of transactions while expending less energy than Proof of Work or Proof of Stake alternatives.

Avalanche supports a wide range of features, including smart contracts, decentralised applications (dApps), and tokenisation. The Avalanche network is highly scalable with the ability to process up to 4500 transactions per second (TPS). It is an open-source software that is available for anyone to use or contribute to and represents a secure and user-friendly alternative to block-mining ecosystems.

AVAX is the native token for Avalanche. AVAX tokens are used to secure the network by providing rewards for validators, as well as for transaction fees when sending digital currency peer-to-peer.

There are currently 300,000,000 AVAX tokens in circulation with the maximum supply being 720,000,000 AVAX. Over time, the remaining tokens will be unlocked and added to the circulating supply.

Avalanche is a new-age blockchain that offers an improved user experience when compared with legacy systems. The open-source network is highly scalable, highly secure, and decentralised, meaning the Avalanche protocol has solved the blockchain trilemma.

By offering smart contract compatibility alongside cheap fees and high TPS, Avalanche can become a hotbed of blockchain activity in the future. AVAX is a top 20 cryptocurrency by market cap with a price that is currently less than $14 after forming an all-time high of almost $150. The token is expected to reach these highs again over time.

Diversify your portfolio – Best Altcoin Round-up

The crypto crash of 2022 has been bleak for many investors. Some top projects, such as LUNA and FTT, completely capitulated. The silver lining for these cloudy conditions is that blockchain technology is highly resilient. There are many innovative projects that continue to build regardless of the price action and they could all make some major gains during the next bull market.

Metacade is just launching its presale event and with so much value in the project pipeline, investors have been keen to get involved. For now, you can get 125 MCADE per dollar invested which amounts to $0.008 per token. The presale price is set to rise to $0.02 and that’s before the token is released to the public later this year. 

The projects outlined in this article all have high potential and are some of the best altcoins you can buy in 2023, with each one offering innovative solutions in a variety of different blockchain sectors. If the crypto crash of 2022 taught us anything, it is that a diversified portfolio is key to offsetting market volatility. The five tokens listed here range from CEXs to decentralised marketplaces, Layer 1s to Layer 2s, and a high-potential gem in its early stages.

You can buy BNB on eToro here.

You can buy the MATIC on eToro here.

You can buy LOOKS on eToro here.

You can buy AVAX on eToro here.

You can participate in the MCADE presale here.

The post Best Altcoins To Buy During The Crypto Crash for 2023 appeared first on CoinJournal.

The metaverse looks increasingly poised to become a major player in the tech world in the next few years. As more and more major companies are joining in, it looks like widespread adoption is just on the horizon. That means that now is the time to be looking at these projects that still have a lot of room to grow with some promising price predictions for the future.

Two projects in particular that could drive this progress are Decentraland (MANA) and Metacade (MCADE). In terms of price prediction, the big question is – which has the higher potential?

This article will cover the characteristics of each project and look over which has the bigger opportunity for returns.

What is Decentraland (MANA)?

Decentraland is a DAO (Decentralised Autonomous Organisation) that creates, maintains, and governs a virtual world. The platform’s native token, MANA, is an ERC20 token that is used to purchase metaverse real estate and take part in governance voting.

Through leveraging the power of decentralised communities, Decentraland is one piece of the foundation on which the future of the GameFi industry could be built. In Decentraland, anyone can freely build 3D worlds, while exploring, navigating, and sharing their creation, which is a key reason why some investors believe that the Decentraland price prediction could be promising.

The Decentraland platform consists of two main elements. The Decentraland SDK is used to build metaverse-based experiences and the Decentraland client is used to view and interact with these experiences. 

The Decentraland platform allows users to create, experience, and monetise content and applications. There are numerous ways to enjoy the Decentraland metaverse and a broad range of digital creations that can be made. Users can build their very own section of the virtual reality landscape and monetise artwork and other assets by minting them as NFTs.

By making the game-building process more accessible, Decentraland is expanding the scope of play-to-earn gaming.

Decentraland: prime real estate but losing popularity

A key drawback to Decentraland’s price prediction is its ongoing struggle to attract users in the past 12 months. The long-term price prediction for MANA could suffer as a result. A recent report indicated that there were fewer than 1000 active users that were buying and selling MANA tokens. So although the platform offers unique functionality and does have high potential, the price prediction is currently less than others in the metaverse space.

Experts see metaverse-based projects as prime long-term investments due to the utility being offered in these digital landscapes. Investors are predicting that the MANA price will rise from current levels alongside other metaverse tokens, but it may struggle to reclaim its previous highs. These projects use advanced technologies that bring people together from all over the world and long-term Decentraland price predictions are higher than the current prices but nothing to marvel at.

One metaverse project that is enjoying a different level of success is Metacade which has already shown major potential for the coming years. While Decentraland’s MANA coin has been disappointing for a lot of crypto investors during 2022, Metacade’s MCADE has become an attractive alternative.

What is Metacade (MCADE)?

Metacade is a comprehensive Play-to-Earn gaming platform that is building the biggest arcade on the blockchain. Metacade offers a range of arcade-style games on a platform that integrates gaming with earning opportunities.

On top of this, Metacade hosts Play-to-Earn tournaments, where gamers can add a competitive element to their experience. By connecting GameFi enthusiasts on the platform and providing MCADE token rewards, Metacade offers competitive gamers new ways to enjoy some of the best Play-to-Earn games around.

A strong approach to community-building

Aside from being the go-to arcade for P2E gaming, Metacade is also a user-focused platform. For example, MCADE tokens will be used to reward community members for their contributions to the Metacade space. Users can help other players to uncover the best methods for playing the latest GameFi titles and Metacade will provide financial rewards. Simply put, users can earn by taking part in the community. That includes sharing their knowledge about the latest games while building new relationships with other gamers.

Since the project is fully focused on its community, Metacade will become a DAO to allow players to vote on governance proposals using MCADE tokens. This hands more power back to gamers as they decide on the best course of action for several key features in a digital world that will be entirely controlled by MCADE token holders.

Supporting the future of GameFi

A key feature that community members will be able to influence is the Metagrants program. Metagrants will be used to fund the next wave of GameFi innovators, as the community can vote on a number of investment pitches and decide which projects sound the best. In this sense, the Metacade community will have a direct influence over the future of Play-to-Earn gaming.

Metacade will also include a Web3 jobs board from 2024 onwards. This section of the metaverse world will connect up-and-coming blockchain games with a dedicated community of gamers. The aim is to let the Metacade community test out these new titles and provide feedback to the development teams in exchange for MCADE token rewards.

Decentraland vs Metacade

Metaverse projects are certainly looking like a solid bet for the future, especially as the utility being offered in these roadmaps is extensive. With Metacade still at an earlier stage in its development, it naturally has much higher than any Decentraland price prediction. 

Looking at Decentraland, the MANA coin has already experienced major growth in its token value. Between 2020 and 2021, MANA’s price rose by almost 10,000%. Since then, however, the project has experienced a major pullback and investors are predicting that the price may never reach the same heights as in 2021. For now, the Decentraland price prediction is $2.22. If MANA manages to break this key level of resistance, then new all-time highs can be reached.

In contrast, Metacade has just started its token presale and has nowhere to go but up. With so much value on the horizon, investors have been jumping into MCADE and have made some major gains already. The long-term price prediction looks significantly higher than current prices after the token was initially launched at just $0.008. At such an early stage, Metacade could even rise by a similar level to Decentraland’s 10,000% before the next bull run begins. By 2025, MCADE price prediction is expected to reach the $5 mark.

Looking at everything with clear eyes, the choice between MCADE and MANA is clear. Metacade’s token looks like it has a much brighter future ahead of it.

Buy MANA on eToro here.

You can participate in the MCADE presale here.

The post Decentraland Price Prediction: Metacade Seems to Be a Better Option appeared first on CoinJournal.

Key Takeaways 

• Mazar’s, the accounting firm who worked with Binance on the proof of reserves report, has pulled the link from its website
• It has also paused all crypto work indefinitely
• Controversy followed the report, with critics decrying its lack of information on the liability side 
• Mazar’s had previously stated that this was a “report” and not an “audit”

Woops.

Binance’s “audit”, with the inverted commas very much intended there, is no more. Mazar’s the auditing firm that worked with Binance on the proof of reserves report – which was what it was referred to by Mazar’s, rather than an audit – has removed the report from its website.

It also announced that it would be pausing its work with all crypto clients. As well as Binance, this includes Crypto.com and KuCoin.

“Unfortunately, this means that we will not be able to work with Mazar’s for the moment”, a Binance spokesperson said.

Why was Mazar’s report controversial? 

I have written extensively about the failure that was the proof of reserves initiative. In short, it couldn’t be less of an audit, with the report throwing up more questions than it answered.

Most prominently, there was a refusal to present liabilities, with CEO Changpeng Zhao stating on Twitter that this was “harder” and to merely “ask around” to verify that Binance don’t owe anybody anything.

yes, but liabilities are harder. We don’t owe any loans to anyone. You can ask around.

— CZ 🔶 Binance (@cz_binance) December 7, 2022

Needless to say, this instruction to ask around didn’t exactly appease the investing public, fresh from being told “assets are fine” by FTX CEO Sam Bankman-Fried, before he promptly deleted the tweet, filed for bankruptcy and was arrested this week.

Now, Binance has nothing to do with FTX, but the PTSD that investors have over the collapse of the latter is fuelling a very sensitive market right now.

Then came the terribly timed news that US prosecutors were reportedly considering filing criminal charges against Zhao and other Binance executives in relation to a money laundering case that has been ongoing for a number of years, and Binance were suddenly news story number one.  

Withdrawals then flooded out of Binance.

In addition to this, the BNB token peeled back, which had previously been holding up well throughout 2022 – compared to the rest of the crypto market, at least.

What happens next?

Mazar’s revocation of the report doesn’t really change much. It is widely acknowledged in the space now that more transparency is needed. Binance – and other exchanges – operate in an opaque manner compared to traditional finance firms.

It is an ironic truth in an industry that is meant to be built on the premise of trutlessness, investors are forced to rely upon the assurances of executives on Twitter. Hopefully, the furore this episode has caused will force Binance to come completely clean and present to the world a bona-fide audit.

There is certainly nothing to suggest that the firm has any reason not to, but for paranoid investors, the opposite is also true – there is currently no way to verify that Binance are making true on their word.

Mazar’s had declared that Binance was 101% collaterised.

“At the time of assessment, Mazars observed Binance controlled in-scope assets in excess of 100% of their total platform liabilities,” the report said. 

Audited proof of reserves. Transparency. #Binance https://t.co/IClZxTYaWp

— CZ 🔶 Binance (@cz_binance) December 7, 2022

But on closer look, the data wasn’t as satisfying. Binance’s assets amounted to 582,486 bitcoins and its liabilities numbered 597,602 bitcoins. This appeared to suggest an undercollaterization of 3%, but when including assets lent to customers through loan and margin accounts, came to a collaterization ratio of 101%.  

While things seem to have subsided recently, with withdrawals from Binance returning to normal levels, the episode sums up that cryptocurrency has a transparency problem.

It’s great that Binance have survived this little “stress test”, but in reality, this never should have transpired in the first place. Until crypto companies bring their disclosures in line with what is presented in traditional finance, however, these episodes of trepidation will continue to pop up throughout time.

For its part, Binance has affirmed that it is moving towards more transparency. That is a great thing – and something the space desperately needs.

The post Binance’s proof of reserves auditor pulls report, what does it mean? appeared first on CoinJournal.

The GameFi market continues to prove popular with crypto investors, and MCADE, the native token for Metacade, is leading the charge. In the three weeks of its beta presale, the MCADE token has already smashed the $1 million barrier, making it one of the hottest new blockchain tokens on the market.

Metacade is quickly gaining momentum as gamers and investors recognize the potential to become a leader in the Web 3.0 gaming space. As a result, both are moving early to support the project to maximize their potential returns.

Almost 90% of the available MCADE tokens in the beta presale have been purchased at the introductory price of $0.008, leaving a small amount still available to intelligent investors. Once the beta presale is complete, MCADE tokens will remain open for purchase at the increased price of $0.10.

While this remains excellent value, the beta presale token price is 25% lower, promising an even better return to shrewd investors.

What is Metacade?

Metacade is the first play-to-earn (P2E) virtual arcade that harnesses the tremendous potential of Web 3.0 technology to build the metaverse’s premier gaming space.

Players can earn rewards in MCADE tokens as they interact with the platform. As well as earning while they play through success in tournaments and climbing leaderboards, players can earn rewards by sharing gaming knowledge, writing game reviews, and providing feedback to developers through the platform’s backtesting capability.

What makes Metacade unique?

GameFi-based apps are nothing new. Several gaming apps utilize blockchain but offer gamers fewer options or opportunities to earn than Metacade.

Metacade’s most significant selling point is the range of games available on the platform. Where many virtual gaming apps exist with either a single title or a minimal range to choose from, Metacade intends to host the most comprehensive library of titles of any metaverse gaming app.

In addition, Metacade isn’t simply a platform for gamers to hang out. Instead, there’s a significant focus on developing new titles unique to Metacade. Indeed, the platform supports game developers on their journey by offering them the chance to apply for funding through Metagrants to turn their plans into reality.

The platform’s greatest strength is that Metacade will put the power in the hands of users by granting them full autonomy on the direction the platform takes. For example, they will be able to stake MCADE tokens to vote on which games make the cut and go into development after assessing applications from developers.

Gamers can approve games they want to see within the community and not see the library full of titles they have no interest in or want to play. Indeed, the entire ethos of Metacade is to hand power back to the gamers. Metacade will remove barriers currently existing between gamers and development studios.

Metacade’s platform will undergo several iterations, each one bringing new features. For instance, there are plans for a career hub to link the finest new talent in metaverse gaming development with exciting Web3 companies.

The ultimate goal is to build a fully self-sufficient community with a flow of MCADE tokens from investors and advertisers into the wallets of developers, Metagrants, and players through rewards. By this stage, the plan is for Metacade to transition into a DAO, allowing the community members to build the best possible platform for gamers of all experience levels.

Why Invest in MCADE?

Blockchain gaming is a rapidly evolving industry with more than 2,000 percent growth since January 2021. Furthermore, experts predict that this growth will continue throughout the rest of the decade.

Metacade’s offering will position it at the vanguard of the metaverse gaming revolution, making the beta presale a wise investment. Moreover, with the price of an MCADE token at rock-bottom levels, there is substantial room for a significant and quick return on investment.

However, what makes Metacade such an attractive investment opportunity is the diverse and multi-layered roadmap that will lead to an ever-evolving environment. Unlike many crypto-platforms, which are limited by offering a single-use, Metacade has a unique longevity that will keep the platform growing in the future.

Here are some more details on how to buy MCADE.

The post Metacade Smashes Past $1 Million In Three Weeks – Here’s Why appeared first on CoinJournal.

• Hooked Protocol is a small but fast-growing platform.

• Its activity has surged to position 1 in DappRadar rankings.

Hooked Protocol price defied gravity as the developers started airdrop distributions. It also rose as the platform rose to the top of the DappRadar rankings of the top BSC chain networks. HOOK rose to $2, which was much higher than this month’s low of $0.10.

What is Hooked Protocol and why is it rising?

Hooked Protocol is an on-ramp layer that hopes to guide the broad web3 adoption. Its main product is known as Wild Cash, which is a platform that provides quiz-to-earn and other gaming solutions with over 2 million users. 

It also makes it possible for users to earn rewards through their Proof of Work (PoW) mechanisms by contributing to its platform. Further, users can refer other people to earn rewards in the ecosystem. Wild Cash’s Android app has over 1 million users and a 4.8 star rating.

There are several reasons why the HOOK price has defied gravity in the past few days. First, the developer started distributing the first batch of airdrops on Thursday. According to BscScan, there are now tokens worth $187 million in its airdrop wallet.

This airdrop was meant to reward early supporters of the network on the Hooked Party Pass NFTs. It also supports the motivation of users to continue building on the network. There will be five more airdrop batches in the coming months.

The last five airdrops will be for existing Hooked Party Pass NFT holder and long-term community contributors. They will happen on the first day of each month.

HOOK price also rose as it rose to the top ranking of the social section of DappRadar rankings of the most active apps.

https://twitter.com/HookedProtocol/status/1603266717282889728

Hook price prediction

The hourly chart shows that the HOOK price has been in a consolidation phase in the past few days. It has been hovering at the important level of $2.0 This price is along the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has risen above the neutral point of 50.

Therefore, Hooked Protocol price will likely drop during the weekend as the enthusiasm of the airdrop fades. If this happens, the token will likely drop to about $1.50.

HOOK/USD chart by TradingView

How to buy Hooked Protocol

The post HOOK price defies gravity as Hooked Protocol activity rises appeared first on CoinJournal.