Kategorie: Crypto Analysis

Fantom (FTM) has been surging over the last few days. The Ethereum competitor in fact managed to cross above $3.4, hitting an all-time high in the process. But is it the right time to buy Fantom? How far can this uptrend momentum go in the near and long term? Here are some highlights:

• Fantom (FTM) has outperformed almost all major cryptos, gaining a whopping 35% over the past week.

• The token did fall slightly from its all-time high and was trading at $3.22 at the time of writing.

• Total Value locked on Fantom (FTM) has surged to $7.75 billion, a 26% jump over 7 days.

Data Source: Tradingview.com 

Fantom (FTM) – Price action and prediction

Fantom (FTM) has often been described as an underrated project that is going to surprise many. Despite a slow start in 2022, the altcoin has held steady and is now charting an upward trajectory. 

Weekly gains stand at 35%, the best in the entire market. But it is the total value locked or TVL that is attracting a lot of interest. Last week, Fantom’s TVL rose to $7.7 billion, a 26% increase over 7 days. This was one of the key drivers of the price action this week. 

We expect Fantom (FTM) to maintain this trajectory. Although the token has slightly fallen from its $3.4 all-time high, it will retest that threshold in the coming days.

Should you buy Fantom (FTM)

For the last months, Fantom (FTM) has ranked as one of the fastest-growing crypto assets in the market. If you are looking for a decent Ethereum alternative with superb underlying fundamentals, then Fantom (FTM) is a decent option. 

As for folks who want a short term play, maybe ride the bullish uptrend. In fact, over the last few days, people who have tried to bet against FTM have been burned, so it may not be a good idea.

The post Fantom (FTM) hits new all-time highs – Is it the right time to buy? appeared first on Coin Journal.

The year is just starting, but cryptocurrencies are moving boundaries and reaching new all-time highs. If you are a crypto enthusiast looking to put your money in some coins with potential, see this list of coins to buy this month in no particular order.

Solana (SOL)

Solana is an open-source computing network developed by Anatoly Yakovenko in 2017. It was developed to increase the speed of transactions while ensuring decentralisation. The Solana network boasts of validating over 50,000 transactions per second for less than a penny per transaction. It runs on the proof-of-stake consensus algorithm. It is similar to the Ethereum blockchain, which has earned it the nickname „Ethereum killer.“ Solana supports smart contracts and can be used for investing apps, DeFi, games, DEXs, social media, dApps, etc. Compared to the Ethereum blockchain, it has performed more transactions per second at a low transaction fee. SOL is the native coin of the blockchain. It is used for paying transaction fees, staking, and as a governance token. 311.8 million SOL of the 508.2 million is currently in circulation. SOL is currently ranked 5th, and one SOL costs $150.52 today. In November, it cost $259.96.

Cardano (ADA)

Cardano is a third-generation protocol created by Jeremy Wood and Charles Hoskinson in 2017. It uses the Ouroboros- a proof-of-stake algorithm as its consensus algorithm. Its goal is to be secure, scalable, flexible, and eco-friendly. The blockchain allows the creation of native tokens that mirrors its native cryptocurrency (ADA). The blockchain runs on two different layers- the settlement layer, which oversees assets transfer and notes transactions, and the computation layer, which executes the smart contracts for decentralised applications. ADA is the native coin for fueling the platform. It can be used to settle transaction fees and as a governance token. Also, it can be staked for rewards. Today, its price is $1.25, having dropped by 59.4% from an ATH of $3.09 in September. ADA is ranked 7th with a market cap of $402.b. It has a total supply of 45 billion, with 32.1 billion currently in circulation.

Fantom (FTM)

The Fantom ecosystem is a blockchain for decentralised applications and digital assets launched in 2019. Michael Kong developed it. It is modular, efficient, scalable, secure, open, and eco-friendly. It supports smart contracts. The blockchain runs on Lachesis, an Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus algorithm. The creation of dApps is possible because of Fantom Virtual Machine. FTM fuels the ecosystem. FTM is both an ERC-20 token and a BEP-2 token. It is used for rewarding validators and as a governance token. FTM is trading at $3.00 right now. It peaked at $3.46 in October. FTM has a total supply of 3.2 billion, and 2.5 billion is in circulation.

Cosmos (ATOM)

Cosmos is a blockchain for other blockchains created to serve as the internet of blockchains. It has an Inter-Blockchain Communication protocol (IBC) and a software developer kit that allows easy creation of dApps and interconnection between independent blockchains (zones). Cosmos operates on Tendermint Proof-of-Stake Byzantine Fault Tolerance (BFT). It was launched in 2019 by the Interchain Foundation. ATOM is the native coin used to promote interoperability on the network. It can be staked, held, exchanged, and traded. Today, its price is $39, with 226 billion atoms currently in circulation. It peaked at $44.42 in September.

Audius (AUDIO)

Like Spotify and SoundCloud, Audius is a music streaming platform built on blockchain. It supports music sharing, streaming and has social media features. The platform is run by node operators, artists, and fans. Audius runs on a proof-of-stake algorithm. It was founded in 2018 on the POA Network but is now on the Solana blockchain. Although it is not the first streaming platform on the blockchain, it is backed by Jason Derulo, Katy Perry, Nas, The Chainsmokers, and Pusha T. Its native cryptocurrency is AUDIO, an ERC-20 token. 500 million AUDIO of the 1.1 billion is in circulation right now. Today, its price is $1.43 but reached an all-time high of $4.95 in March 2021.

Chainlink (LINK)

Chainlink is a network of nodes that provides data and information from off-blockchain sources available to smart contracts through an oracle. It provides blockchains and the dApps on them with relevant data. It was launched in 2017 as the first protocol moving data and information from off-chain sources to existing smart contracts. The network’s operation is divided into oracle selection, data reporting, and result aggregation. LINK is the native coin of the network. Node operators are rewarded with LINK for their activities on the network. It can be traded, staked, and exchanged. LINK is trading at $24.98 now. It cost $52.70 in May 2021. There is currently 467 million LINK in circulation.

Polygon (MATIC)

Polygon was developed in India initially as the Matic Network but was rebranded in February 2021 as Polygon. It was created as a layer-2 scaling protocol for the Ethereum network. It was created to increase the size, speed, security, interoperability, and use of the blockchain. It operates on a proof-of-stake algorithm. It supports the Ethereum Virtual Machine contract.

Further developments on the network are expected to include Polygon Plasma, zk-Rollups, Optimistic Rollups, and Validium Chain. MATIC is the native token used for powering the Polygon network. Payment of transaction fees and staking can be made with MATIC. Also, it can function as a governance token for voting upgrades and policies on the platform. A MATIC token costs $2.29 today.

Terra (LUNA)

 Terra is a blockchain that supports the creation of stablecoins linked to physical currencies or assets. These stablecoins can be traded and exchanged on the ecosystem or exchange platforms. It was created in 2018 by Terraform Labs using Cosmos SDK. It works on Tendermint Delegated-Proof-of-Stake (DPoS) consensus algorithm. It is a fintech solution for payments. The ecosystem consists of CHAI for making frictionless payments and Terra Bridge to aid interoperability between blockchains. The Mirror Protocol allows creating synthetic assets (mAssets) and Anchor Protocol that provides users with access to stable interest rates. TerraUST, TerraGBY, TerraEUR, TerraJBY, TerraKRW, TerraCNY, and TerraSDR are some of the stablecoins that have been created using Terra. LUNA is its native token for maintaining the stability of these stablecoins. The total supply of LUNA is less than a billion. LUNA is used as payment for transaction fees, volatility absorber, staking, and governance tokens. LUNA costs $80.94 as of today and is ranked 9th.

Polkadot (DOT)

 Polkadot is a blockchain of blockchains created in 2016 and launched in May 2020 by Robert Habermeier, Peter Czaban, and Gavin Wood. It aims to solve the blockchain trilemma- security, scalability, and decentralisation. The blockchain has two modules- relay chain (the main network that processes transactions) and parachain (the users‘ blockchain that taps resources from the main network). The blockchain would also feature bridges that allow interoperability with other major blockchains. It operates on a Nominated-Proof-of-Stake (NPoS) consensus mechanism. DOT is its native cryptocurrency and can be traded, staked, and used as a governance token. The price of DOT is $26.28 right now, with a total supply of 1.2 billion. It reached an all-time high of $54.98 in November 2021.

Decentraland (MANA)

 Decentraland is the first 3D decentralised world to be controlled entirely by its users. Its development was started in 2017 by the Decentraland Foundation, established by Esteban Ordano and Ariel Meilich. It became public in January 2020. It is a metaverse created on the Ethereum blockchain. It has two native tokens- LAND (an NFT protocol for registering acquired properties (land)) and MANA (a cryptocurrency for trading assets and other services in the world). The platform supports payments, P2P interaction, and interactive applications. MANA is important in running the operations of the metaverse. It is used to settle transactions and vote on policy updates, LAND auctions, and upgrades on the platform with their MANA. It is currently trading at $2.97. There is a total supply of 2.2 billion, with 1.3 billion currently in circulation and a market cap of $3.9 trillion.

The post Top 10 Best Cryptocurrencies to Buy in January 2022 appeared first on Coin Journal.

Litecoin (LTC) has been rebounding steadily over the last few days. The altcoin has in fact surged by 4% over the last week, paring some of the losses we saw during the market-wide slump. But even with these bullish signs, LTC is still firmly in the bear market territory and could remain there for a while. But should you still buy it? Here are some highlights first:

• Although LTC has surged above its 25- and 50-day exponential moving averages, it is still well below its 200-day EMA.

• Broader sentiment in crypto is yet to rebound steadily, something that poses a huge downside risk for LTC.

• Litecoin must surge past crucial resistance of $150 if any sustained bullish uptrend is seen in the near term.

Data Source: Tradingview.com 

Litecoin (LTC) – Price prediction and analysis

Litecoin (LTC) has shown some resilience this week. The coin in fact managed to pull up from its six-month lows of $120 and add some daylight in between, trading at around $140 at the time of writing. 

The altcoin has also seen gains of about 4% over the past 7 days. Although this may seem like a bullish trend, it’s still early to bet on LTC. 

First, the coin is well below its 200-day EMA of around $150. Analysts note that any bullish surge can only come once LTC surges past that. If indeed that happens, it is conceivable that the coin could go to $170.

Why you should buy Litecoin (LTC)

Even with current price pressure, Litecoin (LTC) has always been a decent buy. The altcoin is still one of the best performing coins inside the top 10 and could still deliver more value in the long term. It is one of those must-have crypto assets for any serious investor looking to unlock long term value.

The post Litecoin (LTC) remains firmly in the bear market despite recent gains – Should you still buy it? appeared first on Coin Journal.

Uniswap (UNI) is starting to see some price consolidation after the tempestuous last few days. The coin in fact looks poised for an uptrend that could deliver a 20% upswing in the near term. As sentiment in the market improves, we could see a sustained UNI bullish breakout albeit there are still some risks. Here are some key highlights:

• Over the last few days, Uniswap (UNI) has been consolidating around its $14 weekly support, suggesting it could breakout.

• The token has also managed to recover some of the losses reported last week during the market-wide crypto slump.

• We expect UNI to retest the $18 mark, something that could deliver an upside of 20% in the coming days.

Data Source: Tradingview.com 

Uniswap (UNI) – Price prediction and analysis

Over the last few days, we have seen Uniswap (UNI) bounce off its $14 weekly support. The coin is strongly consolidating around this price, and while we are yet to see a decisive breakout, it is likely going to happen within days. 

In fact, at the time of writing, Uniswap (UNI) had surged past the $16 mark albeit it was down about 1% in 24 hours. The next rally is likely to push the coin above $18 and could easily break into $19 territory as a result. 

For this reason, investors are looking at a possible upswing of at least 20%. Despite this, UNI must hold above the weekly support of $14 for any decent uptrend to occur.

Should you buy Uniswap (UNI)

The answer is yes. Uniswap (UNI) is a decent crypto asset and a good bet for long-term investors. But even for short-term speculative traders, UNI appears well on course towards decent gains in the near term. You could enter right now and ride the wave to $18 before locking in profits.

The post Uniswap (UNI) sees price consolidation with a 20% upswing now possible appeared first on Coin Journal.

Analysis of Loopring (LRC) over the last two weeks has largely struck a bearish tone. Most analysts were targeting a $1.3 price in the downtrend and true to that, LRC tanked to those levels. But there was some breakout that took the coin out of the $1.3 bedrock, and LRC even tested its overhead resistance at $1.6. But so far, Loopring (LRC) has stalled. Should you buy it? First some highlights:

• Despite breaking past its $1.6 resistance, Loopring (LRC) has struggled to sustain gains above that threshold, suggesting weakness.

• At the time of writing, the coin was trading at around $1.59, virtually unchanged in 24-hour intraday trading.

• Analysts warn that if gains above $1.6 are not sustained further, the LRC could easily tumble back to $1.3.

Data Source: Tradingview.com 

Loopring (LRC) – Price prediction and analysis

As noted above, commentary around Loopring (LRC) over the last two weeks was bearish. Technical indicators around the coin were pointing towards sustained price pressure, and eventually, LRC tanked to around $1.3. 

But there were some signs that perhaps a rebound was on the cards after the coin managed to retest overhead resistance at $1.6. But despite this, so far it has not managed to hold above that threshold. 

If this trend continues, LRC is staring at a collapse that will take it back to $1.3. But if bulls push gains above $1.6 and keep them there, a surge towards $1.9 and eventually $2.2 is still likely.

Why you should buy Loopring (LRC)

Despite the recent price pressure, Loopring (LRC) still has the potential to deliver immense value for investors. The token is actually getting listed in many exchanges, and its innovative use of third-party scalability solutions has made the network more efficient and faster. 

We still expect the price of LRC to rebound in the long term. For that reason, it is definitely a good buy for any crypto investor.

The post Loopring (LRC) price breakout is stalling – Should you still buy it? appeared first on Coin Journal.