Kategorie: Crypto Analysis

As with most assets in the crypto sector, the best part of December hasn’t been that good for DeFi tokens. A market-wide slump has seen most DeFi tokens slide lower, but we are now starting to see some price consolidation as bulls move in to buy emerging dips. Convex Finance (CVX) has however been a stand-out performer in the DeFi space, not just this year, but also over the past week or so. Here are some highlights:

• In the last 7 days or thereabout, Convex Finance (CVX) has surged by a whopping 50%.

• At press time, the token was trading at $41.39, albeit it had managed to hit highs of $49 in 24-hour intraday trading.

• The token is well above its 200-day simple moving average, indicating a bull trend is already in force.

Data source: Tradingview.com 

Convex Finance (CVX) – price action and analysis

In the last seven days, we have seen CVX break past several overhead resistance levels in its technical charts. It is an apparent bullish surge. In fact, most analysts were seeing the $44 price as the main barrier. Although at press time CVX was relatively lower at $41.38, at one point during intraday trading it had managed to surge well above that resistance. 

This suggests that some price consolidation around $44 is likely in the coming days. Some bullish analysts are even confident that CVX will regain its previous 24-hour highs of $49 and eventually break to consolidate around $50. Either way, Convex Finance (CVX) remains one of the best performing DeFi tokens right now.

Should you buy Convex Finance (CVX)

DeFi has exploded in 2021, and this trend is expected to continue in the near future. While there are many DeFi tokens to buy, based on its performance this year, it seems CVX is a top performer and would likely maintain this trend in the long term. It’s definitely a buy right now.

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Polygon (MATIC) has surged in intraday trading today, hitting an all-time high of $2.7 at one point. The surge was triggered by the arrival of Uniswap V3 on the Polygon network. Uniswap is seen as a very important player in the growth of DeFi. Launching on Polygon is a huge achievement for MATIC investors. Here is what we know.

• MATIC saw a bullish uptrend in early trading, surging to $2.7, its new all-time high

• Analysts see the uptrend holding in the near term, with MATIC expected to see more gains in the future.

• The deployment of Uniswap v3 is set to lift the profile of the Polygon network and bring more DeFi products in the long run. 

Data Source: Tradingview.com

Polygon (MATIC) – Price action and analysis

The bullish surge seen in intraday trading today was largely expected. After all, the launch of Uniswap v3 on Polygon was always going to be a big deal. However, MATIC has actually been on a somewhat bullish trajectory since the start of the week.

The coin did, however, lose some of its all-time high gains. At the time of writing, it was trading at $2.61. But looking at the chart, MATIC is now on an uptrend, and many analysts believe that it’s going to see more all-time highs before the end of the year. The coin could also benefit from a market-wide bullish uptrend expected to hit crypto early next year.

Should You Buy MATIC?

The future is bright for Polygon (MATIC). With the deployment of Uniswap v3, more and more DeFi projects are expected to launch on the network. Besides, since its inception, Polygon has processed over 1 billion transactions, making it one of the fastest-growing blockchain projects in the world. It is therefore highly recommended, especially for long-term value investors.

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There are many speculative crypto assets, including meme coins and others. But there are also a few coins that have some amazing underlying fundamentals. These are typically the coins that will become huge in the future and drive much of the growth and innovation we will see in cryptocurrency. Here are also some reasons why it’s also the best time to buy right now.

• First, cryptocurrencies have seen a market-wide correction in the last month, and most assets are trading low.

• It is likely that 2022 will start with a bull run in most crypto assets.

• If you don’t act now, you will get priced out very fast

Well, while there are a lot of coins right now to buy and hold for at least a year, the two below are our top picks.

Ethereum (ETH)

Ethereum (ETH) is the second-largest crypto by market cap, just after Bitcoin. But Ethereum is much more than a cryptocurrency. The blockchain is providing support for a huge variety of innovative blockchain projects, including DeFi and DApps. 

Data Source: Tradingview.com

In fact, it is estimated that at least 90% of all top blockchain projects are built on Ethereum. Also, the blockchain is expected to shift towards a proof-of-stake consensus model as opposed to the expensive proof-of-work. This will trigger extensive developer activity. Ethereum (ETH) is trading at $3,950.25, way lower from its highs of around $4600.

Terra (LUNA)

Terra (LUNA) is a stablecoin network designed to promote the growth of price-stable global payment systems. It launched in 2019 and has since grown massively to become one of the top 10 cryptos by market cap. 

Terra is expected to see heated growth in the future as applications for Stablecoins become more expansive. At press time, its native token LUNA, which also happens to be a stablecoin, was trading at $91.73.

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The crypto market, in general, has in recent years seen exponential growth. It’s therefore easy to think that there aren’t many coins that have enough upside for growth for you as an investor to take advantage of. But that’s not true. There are some coins that appear to be flying under the radar and as such, they are criminally undervalued. Here are some points:

• Typically, coins with low market caps still have some room to grow.

• They can be relatively new blockchain projects or older ones with a new twist.

• Despite the low market cap, the coins should also have long-term intrinsic value as well.

So, if you are keen on finding the next crypto bargain, here are some incredible coins trading for less than USD 500 million in market cap:

Ultra (UOS)

Ultra (UOS) is an entertainment platform that provides a decentralised platform for people to publish and sell their entertainment. It could be music, videos, games, or anything else. It is actually the first such platform on the blockchain, and funny enough, Ultra has been under the radar for quite some time. 

Data Source: Tradingview.com

But this won’t last long. In fact, at the time of writing, the 24-hour trading volume had spiked by nearly 30%. The coin is trading at a market cap of $440 million with a price of $1.58 per coin.

EverRise (RISE)

EverRise (RISE) is a blockchain project designed to bring greater security in decentralised finance. The project is also looking to build an innovative system of DApps to accelerate access to DeFi around the world. 

It is a very promising initiative but remains significantly undervalued. At press time, the coin was trading at a market cap of around $55 million. The price per coin at the time was $0.0009016.

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With the volatility often associated with cryptocurrencies, it’s easy to assume that they are only speculative assets designed for short-term investing. But you’d be wrong. For instance, even though a coin like Bitcoin has seen wild swings in prices in recent months, it’s still up over 100% year to date. So, crypto is a decent asset class for long-term value investing, and here is why.

• First, most established coins are backed by decent underlying fundamentals that have real economic value.

• The history of crypto shows steady and consistent gains over time. This won’t change even in the future.

• The trick is to buy into an asset early before you are priced out

If you are thinking of adding crypto as part of your long-term investment portfolio, here are two coins that must consider very seriously:

Solana (SOL)

Solana (SOL) is a proof of stake public blockchain designed to power decentralised services and applications. Think of it as Windows for PCs or Android for mobile but instead of powering phones and computers, it is the ecosystem that will power the future of decentralisation. 

Data Source: Tradingview.com 

Solana (SOL) is highly rated and is often seen as the most direct competitor for Ethereum. It’s also faster, more efficient, and cheaper. But unlike Ethereum, it is still undervalued. At press time. Solana (SOL) was valued at $178 with a market cap of $55 billion. There is still a lot of potential for more growth in the long term.

UniSwap (UNI)

UniSwap (UNI) is the largest decentralised exchange in the world or DEX. The DEX is built on the Ethereum network, and it allows peer-to-peer crypto trading. 

Decentralised exchanges are expected to become huge in the future as investors look for more autonomy in trading. UniSwap will lead the way. At the time of writing, the coin was trading at $16.81 with a market cap of around $10 billion.

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