Kategorie: Crypto Analysis

• Crypto.com announced an integration of Google Pay for crypto payments

• The cryptocurrency has been posting gains in the last week

• CRO still lacks a strong bullish push as the cryptocurrency consolidates

Crypto.com exchange continues to make headlines. On Thursday, the exchange said it was integrating Google Pay. The integration will be for its crypto wallet and trading platform. The integration will allow Android users to pay for cryptocurrencies using Google Pay. 

On Friday, Crypto.com was approved by the Cyprus regulator to offer its products and services in the country. That expands the crypto exchange’s presence in Europe. Crypto.com has received similar approvals in countries such as Singapore and Italy. 

Despite the latest developments, crypto.com token CRO/USD remains in the trenches. As of the time of writing, the token was up by 5%. The gains reflected overall market recovery rather than positive developments. CRO’s gains in the week were 13%; still, an average achievement as most tokens boomed. We believe CRO will take time before investors see lasting gains. Still, the current price is attractive.

CRO lacks buyer interest after breaking past a key resistance

Source – TradingView

Technically, CRO has broken past key resistance at $0.13. The MACD indicators are bullish on the cryptocurrency. However, CRO still lacks a strong bullish momentum at the current level. The token is consolidating at or slightly above the resistance zone. That indicates a lack of buyer interest. Investors could also be turning attention to other cryptocurrencies such as Bitcoin.

If CRO manages to hold above the $0.13 level, that sets it on course to claim $0.168. We still believe CRO is attractively priced for investors looking to hold it long-term. The positive developments are a catalyst for the token’s gains.

Summary

CRO has announced the integration of Google Pay. The token is yet to price the news as the price remains in consolidation at or slightly above $0.13.

The post Investigating Crypto.com’s bullish case after the integration of Google Pay appeared first on CoinJournal.

The much-awaited Ethereum merge is expected to take place in September. It is a big step towards improving Ethereum scalability while retaining its decentralized nature. 

While talking about the merge at the EthCC, Ethereum’s founder, Vitalik Buterin, said that the merge would make Ethereum’s development process only 40% complete. He added that going into the future; the focus will be on taking the load off the Ethereum mainnet. Vitalik said that besides layer-2’s handling most transactions, there was a need to eliminate the need for Ethereum nodes to store the blockchain’s entire history.

Going by Vitalik Buterin’s talk, it is clear that as Ethereum continues to evolve, there are cryptocurrencies within the Ethereum ecosystem that are set to reap big.

Below are some of the cryptocurrencies most likely to succeed for anyone interested in crypto as Ethereum evolves into a more decentralized and scalable internet computer. 

The Graph (GRT)

Vitalik Buterin specifically referenced The Graph (GRT) as one of the cryptocurrency projects that have a major role to play in the future growth of Ethereum. According to Buterin, The Graph is a valuable tool that can be used to store Ethereum’s historical data instead of keeping it on-chain. 

This is a big deal, as it puts The Graph at the forefront of cryptocurrencies whose futures are directly tied to that of Ethereum. Already, The Graph is showing positive signals after the comments that Buterin made about it at the EthCC. While most cryptocurrencies have eased up a little in the last 24 hours, The Graph continues to surge in value.

It is an indicator that investors are excited about The Graph’s role in the Ethereum ecosystem going into the future. As this use case takes shape, The Graph stands out as one of the cryptocurrencies with strong growth potential. 

Polygon (MATIC)

Polygon is one of the best-performing cryptocurrencies this week. In the last 7-days, Polygon is up by 30%, and upside momentum is rising. This is largely driven by news that Disney added Polygon to its Accelerator program.

However, the more important news is that the Polygon team is working hard to make Polygon stand out as one of the best Ethereum layer-2s in the market. Earlier in the week, Polygon co-founder, Bjeric said that they were committed to Ethereum and looking to give back to the Ethereum ecosystem.

Many have speculated that the giving back is in the form of launching Polygon Hermez. Hermez will introduce zero-knowledge proofs (Zk Rollups) to Polygon. Not only will this help Polygon scale better (to Ethereum’s benefit), but it will also significantly improve security. That’s because, with Zk Rollups, it is possible to verify a transaction without revealing the identity of the one verifying it.

With Ethereum set to entrench its dominance after the merge, Polygon comes across as a top cryptocurrency worthy of investing in now. The odds are that as Ethereum grows, so will MATIC.

The post Top Cryptocurrencies to benefit the most from Ethereum’s growth appeared first on CoinJournal.

The YFII price soared to the highest point since June 25th of this year. The token surged to a high of $1,700, which was about 385% above the lowest level in June this year. The token has a market cap of more than $66 million. 

What is DFI.Money?

DFI.Money is a relatively small DeFi platform that is in the yield farming sub-sector. The platform allows people to earn strong interest by just investing in high-yield tokens. It was created after a hard fork of Yearn Finance, one of the leading platforms in the industry. 

It automatically configures the smart contract financial platform with the best DeFi mining income market. It has low transaction fees and the ability to move tokens across multiple vaults. D

DFI.Money is powered by the YFII token. Users can earn it by contributing liquidity to the ecosystem. It does a similar thing to what UNI does for the Uniswap ecosystem. 

YFII price has bounced back recently as investors focus on the ongoing recovery of the DeFi industry. Recently, the total value locked in the sector has surged to more than $83 billion. While this is lower than the all-time high of almost $250 billion, it is much higher than this month’s low of about $70 billion. 

Investors appear to believe that many DeFi platforms will thrive now that the industry has gone through a stress test. The test has seen companies like Voyager Token and Curve go bankrupt. Therefore, there is a close comparison of what happened during the dot com bubble and the fact that many companies thrived afterward. 

YFII price prediction 

The four-hour chart shows that the YFII price has been in an upward trend in the past few days. It has managed to rise by more than 385%, making it the best-performing coins in the industry. It has moved above the important resistance level at $1,470, which was the highest point on July 19th

YFII is above the 25 and 50-day moving averages while the Relative Strength Index has moved close to the overbought level. Therefore, the coin will likely keep rising now that it has moved above the resistance at $1,470.

The post YFII price prediction: Does DFI.Money Have More Upside? appeared first on CoinJournal.

The CRV price has been in a strong bullish trend in the past few days. Curve rally accelerated after the network announced that it will launch a new stablecoin. It rose to a high of $1.45, which was the highest point since May 31st of this year. It has risen by more than 157% above the lowest level this year, bringing its total market cap to over $569 million.

Curve DAO to launch a stablecoin

The CRV price has been in a strong bullish momentum in the past few days as investors move to blue-chip DeFi tokens. The thinking is that these platforms have gone through a major stress test with the recent crash of cryptocurrencies and the implosion of major platforms like Terra and Three Arrows Capital.

Another theory is that the leading DeFi players like Aave, Uniswap, and Lido will thrive just as companies like Google and Yahoo thrived after the dot com bubble. 

Curve DAO price is soaring after the developers announced that they will launch a new stablecoin that will help to facilitate payments in the ecosystem. The stablecoin will be significantly different from the popular ones like Tether and USD Coin. 

The difference is that it will not be backed by anything like the US dollar or gold. Instead, it will be an over-collateralized coin like Tron’s USDD. These coins are usually backed by volatile assets like Bitcoin and other cryptocurrencies.

Curve DAO’s stablecoin launch comes at a time when many other decentralised platforms are launching their own coins. Maker was among the first ones to launch its token when it launched Dai. Tron recently launched USDD that has a market cap of over $700 million while Near Protocol has USN. 

The risk for these algorithmic coins is that they could easily lose their peg when volatility surges. In addition to Terra UST, other coins that lost their peg are Dei and Neutrino.

CRV price prediction

The four-hour chart shows that the Curve DAO price has been in a strong bullish trend in the past few weeks. As it rose, it managed to move above the upper side of the ascending channel pattern that is shown in blue. 

The coin also rose above the 25-day and 50-day moving averages while the Relative Strength Index and the MACD have continued rising. 

Therefore, the coin will likely continue rising as bulls target the next key resistance at $1.5. After hitting this psychological level, the coin will likely pull back and retest the upper side of the channel. 

The post CRV price prediction as Curve DAO unveils stablecoin plans appeared first on CoinJournal.

• XRP corrects 5% after a week of gains

• Ripple continues to enjoy positive developments on the case with SEC

• XRP could continue to correct until it finds support at $0.33

Ripple’s XRP/USD is recovering, but sustainable gains depend on a key resistance. As of press time, XRP was down 5% in 24 hours as bulls failed to inspire a breakout of $38. The token fell alongside other cryptocurrencies. The decline can be said to be a correction after the market was bullish for a week. 

Revising the SEC case, Ripple remains right on track, although the outcome remains uncertain. On July 12, a US court rejected SEC’s call to withhold some documents against Ripple. The documents, which relate to 2018’s so-called Hinman speech, could have influenced proceedings. Either way, courts continuously siding with Ripple is positive. It suggests that things are progressing well for the firm. The markets are warming up for the outcome of the case that could shape XRP’s price.

As of the moment, XRP remains among the top cryptocurrencies despite the uncertainty. At position 7 by market cap, it is above Cardano and Solana. The latest gains have been due to market sentiment, but XRP has a hurdle to clear at $38.

XRP corrects after rejection at key resistance

 Source – TradingView

Technical analysis indicates that XRP has been rejected again at the key resistance of $0.38. The MACD indicator has crossed below the moving average, suggesting a bearish momentum. Following the latest gains, investors could be taking profits. We expect the current correction to continue. XRP could settle at a support zone of $0.33. It could also slide to another support at $0.30. Investors should watch the two levels for price action and sentiment.

Summary

XRP has a short-term bearish momentum after getting rejected at $0.38. The cryptocurrency could settle at $0.33 or $0.30.

The post Watch these levels as XRP fails at resistance that has been holding price appeared first on CoinJournal.