Kategorie: Crypto Analysis

Blockchain infrastructure is the foundation of the decentralized revolution. Ever since the Bitcoin chain launched, more and more projects have been established, each offering something unique. But why would investors be interested in these ecosystems?

• Demand for blockchain ecosystems is always going to be high

• Innovations in blockchains are making decentralization cheaper

• The long-term value of blockchain infrastructure projects will always be very attractive.

If you are keen on putting your money on promising blockchain infrastructure, we have three projects here below to watch.

Callisto Network (CLO)

The Callisto Network is a smart contractS platform designed to offer efficient blockchain infrastructure. The chain is known for its low fees and fast transactions. Although the concept behind Callisto was launched in 2018, it’s only recently that the project has been getting some mainstream attention. 

Data Source: TradingView 

With a market cap of around $11 million, there is still quite a lot this project can offer. Also, Callisto has been attracting many decent P2E and NFT projects. It has also launched a few DEXs and DeFi apps as well. As long as the ecosystem is growing, better days will come.

Celo (CELO)

Unlike Callisto, Celo is more of a known project. But it’s actually relatively newer. Its MainNet came online for the first time in 2020. Celo’s main goal is to accelerate the adoption of cryptocurrencies by providing an integrated ecosystem. 

So far, the project has seen the addition of innovative crypto payment apps and DeFi protocols. It has a market cap of around $600 million too. CELO could realistically grow 10x in a few years.

Helium (HNT)

A lot has been said about Helium (HNT), and for good reason. It is one project that is working to decentralize access to the internet. So far, helium has received a lot of investments and it seems to be laying the groundwork for massive growth. It’s definitely worth watching it.

The post Top Blockchain Infrastructure Projects to watch out for appeared first on Coin Journal.

The cryptocurrency market has performed well over the weekend, with the total market cap now above $1.3 trillion again. 

The cryptocurrency market is having a positive start to the new week. The broader market has added more than 1.3% to its value in the last 24 hours and the total market cap now stands above $1.3 trillion.

Bitcoin is once again trading above $30k per coin after adding 1% to its value so far today. Ether is also trading above the $2k threshold after adding 2% to its value in the last 24 hours.

However, FTM, the native token of the Fantom ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap today. FTM is up by more than 14% in the last 24 hours.

The rally can be attributed to the adoption news the Fantom team recorded over the weekend.

Over the weekend, the Fantom team announced that blockchain data indexing protocol Unmarshal has integrated Fantom. The adoption also meant that Fantom is now integrated into the Unmarshal aggregated blockchain explorer Xscan, with portfolio tracking functionality coming soon, the Fantom team added.

Key levels to watch

The FTM/USD 4-hour chart is currently bullish as Fantom has been performing well in recent days. FTM is up by more than 38% in the last seven days, making it one of the top performers amongst the leading 50 cryptocurrencies by market cap.

The MACD line crossed into the positive territory, indicating bullish momentum. The 14-day relative strength index of 71 shows that FTM could soon enter the overbought region.

At press time, FTM is trading at $0.4887 per coin. If the rally continues, FTM could surge past the first major resistance level at $0.5987 before the end of the day. However, the resistance level at $0.7763 should cap further upward movement in the short term.

If the bears regain control of the market, FTM could slip below the $0.400 support level before the end of the day. However, it should comfortably defend the $0.3662 support level in the short term. 

The post Here is why Fantom is up by more than 14% today appeared first on Coin Journal.

Play to Earn or P2E is expected to see massive investments in the coming months. In fact, Andreessen Horowitz, one of the leading VC firms in crypto, has set aside over half a billion dollars to invest in P2E. So, why should you even bother with these projects? Here are some reasons:

• P2E is going to see a lot of big money flowing in the near term.

• New projects are offering P2E, NFTs and metaverse wrapped up together

• The industry is new, so there is literally unlimited potential right now.

While there have been successful P2E projects in the past, like Axie Infinity, the three below should be worth keeping an eye on.

League of Kingdoms Arena (LOKA)

League of Kingdoms Arena (LOKA) is a decentralized multiplayer online game that offers an exhilarating experience. Users compete for resources in several tournament battles. 

Data Source: TradingView 

You are also able to collect resources across the metaverse, build armies, and see your kingdoms grow. In-game NFTs are also included as part of the game. So far, League of Kingdoms has earned a huge following in recent months and is set to become one of the biggest games out there.

Dreams Quest (DREAMS)

Dreams Quests (DREAMS) is building a robust self-sustaining metaverse economy. The plan is to integrate gaming and social elements into the game with additional DeFi capabilities too. The project is just taking off and is yet to even break $1 million in terms of market cap. There is a lot of possible growth here.

Crypto Blades (SKILL)

Crypto Blades (SKILL) is an innovative metaverse game that allows users to craft NFTs and sell them within the game. Built on the Binance Smart Chain, players can build powerful weapons and tools that can be used to defeat opponents and earn rewards in the process. The project is also at its infancy stage, with a market cap of less than $2 million.

The post 3 relatively small projects to watch in P2E gaming appeared first on Coin Journal.

Before its crash a week ago, Terra’s UST was one of the biggest dollar-pegged stablecoins in the market. The coin was finally de-pegged and has since lost almost 90% of its value against the dollar. So, it is obvious that crypto investors are looking for alternatives, and here is why.

• USD linked stablecoins are crucial for most crypto-related transactions.

• Stablecoins also help investors to reduce exposure to other volatile crypto assets.

• USD-linked stablecoins are the main drivers of DeFi.

With this in mind, if you are looking for better alternatives to UST, we have a list of three coins below to check out.

Tether (USDT)

When it comes to dollar-linked stablecoins, nothing compares to USDT. It is the biggest dollar-pegged coin by market cap and one of the more trusted options. 

Data Source: TradingView 

There were some fears after the UST collapse that Tether could lose its peg. But those fears have now been quashed. USDT appears as stable as ever. While the coin is not 100% safe, it is a far better option compared to most of the dollar-pegged coins in crypto right now.

USD Coin (USDC)

USD Coin (USDC) has an overall market cap of around $53 billion. After Tether, it is the second-largest dollar-pegged stablecoin. USDC has shown incredible stability over the last few weeks. 

Even as Tether and other stablecoins appeared to shake slightly in the wake of the UST collapse, USDC remained largely unchanged. It’s therefore a safe option for investors keen on using dollar-pegged coins. Besides, the circulation of USDC is backed by real currencies held in reserve and additional US treasury bonds.

Pax Dollar (USDP)

Pax Dollar (USDP) may not be as big as Tether or USD Coin, but it is a very decent stablecoin. Its market cap is slightly below $1 billion, but that’s not a bad thing. Besides, USDP is fully collateralized. This gives it a bit of extra stability.

The post Top 3 UST alternatives to consider right now appeared first on Coin Journal.

Cardano (ADA) is set for a nice bump over the days ahead as it establishes a consistent price range. The coin has somewhat recovered some of the losses seen in the middle of May and could give investors more returns in the near term. Here are some of the details.

Over the past week, ADA has established a range of between $0.487 and $0.677

The coin is currently trading at the lower side of this range

ADA will likely trace $0.487 in the coming days before it shoots up again

Data Source: Tradingview 

Cardano (ADA) – Price analysis or prediction

After bottoming in mid-May, ADA has seen some slight recovery. The coin has managed to return above $0.5 and appears to be consolidating. However, over the last week, ADA has established a consistent range.

As long as nothing drastic happens in the market, we expect ADA to retrace this range in the days ahead. This will deliver an upswing of around 35%. Besides, if bullish demand grows and ADA investors continue to hold the coin, we may say a decisive breakout towards $0.8. 

But for now, a likely upside of at least 30% appears very likely. However, this analysis will become invalidated if ADA falls out of the range above and loses its $0.471 support. If this happens, the coin will likely fall towards $0.38 before it pulls up again.

Has ADA fully recovered?

ADA is yet to fully recover from the steep losses in May. The coin was above $1 just recently so there is a long way to go. However, from a long-term standpoint, the outlook for Cardano is very robust. 

For this reason, investors keen on accumulating the coin for the long haul should do it now when the price is heavily discounted.

The post Cardano (ADA) set for a 40% upswing appeared first on Coin Journal.