Kategorie: Crypto Analysis

The WAXP price has done well in the past few days as investors cheer the platform’s growth in the DeFi and gaming industry. WAX is trading at $0.11, which was the highest level since June 27th this year. It has surged by more than 46% from its lowest level in June, bringing its total market cap to over $231 million.

Why is Wax soaring?

WAX is a leading blockchain project that is in the gaming industry. The platform provides all features that developers need to build blockchain services, games, decentralized exchanges, and NFT products. As such, developers of all industries can easily build their products using its WAX Blockchain features.

According to its website, WAX has more than 13 NFT collectors in its ecosystem. These people use the WAX Cloud wallet, which makes it easier for people to buy, collect, and store products in its ecosystem. WAX is used by popular brands like Hasbro, AMC, Atari, and Mattel. 

Read our review of Capital.com.

The WAXP price has risen in the past few days as investors react to the launch of the WAX DeFi platform. This is a platform that provides yields to participants that are based on real economic activity across the WAX ecosystem. 

According to its website, it has a total value locked (TVL) of over $5.8 million, which is remarkable since it is just a few weeks old. Also, the network was launched in a period when both DeFi and other blockchain projects has declined following the turmoil in other platforms like Voyager Digital and Celsius.

WAXP price prediction 

WAXP, like other cryptocurrencies, has had a tough time in the past few months as the cryptocurrencies unravel. On the daily chart, we see that the coin has crashed by more than 90% from its all-time high. The coin remains below the lower side of the descending triangle pattern that is shown in red. 

Recently, however, the coin has made some recovery. It has managed to move above the 25-day moving average and is now approaching the 50-day MA. At the same time, the coin’s Stochastic Oscillator has moved above the overbought level.

Therefore, there is a likelihood that the coin will keep rising as investors target the key resistance point at $0.15. This price is about 40% above the current level. A drop below the support at $0.08 will invalidate the bullish view.

The post WAXP price has popped. Is WAX a good crypto to buy? appeared first on CoinJournal.

The BurgerCities price has gone parabolic in the past few days as demand for the coin jumped. BURGER rose to a high of $3.45, which was the highest level since December. It has jumped by more than 1,100% above the lowest level this year, bringing its total market cap to about $12 million. 

What is BurgerCities and why is it rising?

BurgerCities is a relatively small cryptocurrency that was created in the BNB Chain ecosystem. It is a platform that combines both the metaverse and decentralized finance (DeFi). It is a gaming platform where people compete for rewards. As such, it describes itself as a MetaFi. 

In the BurgerCities ecosystem, people can engage in casual activities like gaming and socializing with the goal of earning rewards. As a metaverse project, it has also integrated the concepts of non-fungible tokens. As such, like Axie Infinity, it is possible for one to make substantial returns by taking part in its gameplay. 

Some of the most important parts of BurgerCities are the Black Market, which integrates a cross-chain aggregator of the major DEX and CEX protocols. There is also the energy plant where users can become liquidity providers and a central bank, which is the single-coin dual-mining revenue aggregator in the network. It is also possible for one to buy virtual property in its ecosystem.

The BurgerCities price is rising as investors react to the recent integration of iZUMi into their aggregation protocol. The partnership came after BurgerCities launched its aggregation protocol. Therefore, the number of DEXs in the ecosystem are MDEX, Biswap, BakerySwap, and Babyswap among others. 

Another reason why the BURGER price is rising is that of pump and dump among market participants. In the past few weeks, we have seen the number of such schemes rise.

BurgerCities price prediction

The BURGER price has made a strong recovery in the past few days. On the daily chart, it has managed to move above the descending trendline shown in blue. It has also jumped above the 25-day and 50-day moving averages while the Stochastic Oscillator has moved above the overbought level. The same is true with other oscillators like the Relative Strength Index (RSI) and the MACD.

Therefore, I suspect that the coin will soon have a pullback as sellers target the blue trendline. This is known as a break and retest pattern. If it happens, the next key support to watch will be at $1.5.

The post BurgerCities price: What is BURGER and why is it soaring? appeared first on CoinJournal.

Pump and dump schemes have become relatively popular in the cryptocurrency industry these days. It has become so common to see coins surge for no single reason and then crash in the following day. Notably, these regular pumps have become useful trading strategies among market participants. Here are some of the top coins being pumped this weekend.

Prosper (PROS)

Prosper is the best-performing cryptocurrency on Saturday. According to Binance, the PROS token has jumped by over 30%, making it one of its best days. 

Prosper is a significantly tiny cryptocurrency. Data by CoinGecko shows that it has a market cap of just $1.1 million, making it the 1,820th biggest cryptocurrency in the world.

Prosper, which is backed by Clover, Ava Labs, Chainlink, and Bonded Finance, is a blockchain project in the prediction market. It is built using the BNB chain. It helps cryptocurrency traders and analysts make money by predicting the direction of an asset’s trend. 

It is like a betting platform that is backed by smart contract technology. One of its top features is that it has a prediction insurance that uses the PROS coin. Still, with no major catalyst, there is a likelihood that the price will have a pullback soon.

Read our review of the best cryptocurrency exchange.

Quant (QNT)

Quant is another cryptocurrency being pumped in the market this weekend. The coin’s price has jumped by more than 25% in th past 24 hours, bringing its total market cap to over $1.1 billion. It is the 51st biggest cryptocurrency in the world.

Quant is a blockchain project whose goal is to bring interoperable ecosystems and real-world solutions to most people. The project is mostly geared to enterprise customers like banks and insurance companies. 

These firms can use its technology to create their own payment networks, digital currencies, capital market solutions, and compliance products. For example, it is possible to build a stablecoin using this product. The price is likely rising because of the recently launched Overledger 2.10.

BurgerCities (BURGER)

BurgerCities is one of the most popular cryptocurrencies among those involved in pump and dump schemes. It is a cryptocurrency that is valued at over $150 million. It is a blockchain gaming product that helps people play multiple games in the metaverse.

The BURGER price has jumped by more than 25% on Saturday. This rally is mostly because of the recent integration with iZUMi into its protocol. This is part of the network’s growth of its DeFi protocol that includes cooperation with PancakeSwap, Biswap, and BakerySwap among others. 

In addition to BurgerCities, Quant, and Prosper, other cryptocurrencies being pumped are MFT, WING, FIDA, and Unifi.

The post Pump and dump: top 3 cryptos being pumped this weekend appeared first on CoinJournal.

Lido price made a strong pullback during the weekend after staging a strong recovery throughout the week. The LDO token is trading at $0.6980, which is slightly below the weekly high of $0.8790. That price was the highest that Lido had been since June 16th.

LDO is crawling back

Lido DAO is one of the biggest players in the Decentralized Finance (DeFi) industry. It serves an important role in that it lets investors earn interest on their staked assets. For example, ethereum holders can earn more returns on their assets by staking it in their holdings. 

Lido DAO supports a number of smart contract platforms like Ethereum, Solana, Kusama, Polkadot, and Polygon. It was also a leading player in Terra before Terra USD lost its peg in May of this year. Now, the network is winding down on the platform. 

Learn more about the best crypto apps.

It is unclear why the Lido price has jumped sharply in the past few weeks. One possible reason is that investors are slowly moving back to its platform. According to Dune Analytics, the total value locked in Lido jumped by 17% this week. It currently sits at over $5.36 billion.

The jump in Lido’s TVL is mostly because cryptocurrency prices did relatively well this week, with Bitcoin soaring to $22,000. The other reason is that inflows to Lido DAO have been relatively strong recently. For example, Lido share of staked ETH rose by 31%.

Another reason why the LDO price has recovered is that stETH is slowly regaining its peg. This is a remarkable development considering that the coin lost its peg recently. It was also affected by the recent crash of Celsius and Three Arrows Capital.

Lido price prediction

Turning to the four-hour chart, we see that the Lido DAO price has done well in the past few weeks. Along the way, the coin managed to move above the important resistance point at $0.7345, which was the highest level since June 25th. It also rose to the highest point in more than three weeks. 

The price remains above the Ichimoku cloud and the 25-period and 50-period moving averages. Therefore, the upward trend will likely continue in the coming days as bulls target the key resistance point at $0.9454. This view will be confirmed if Lido DAO manages to move above the weekly high of $0.8745.

The post Lido price prediction: Is it Safe to buy the LDO dip? appeared first on CoinJournal.

The VIDT Datalink price has gone parabolic in the past few days even as other cryptocurrencies have recoiled. The token rose to a multi-month high of $0.82, which was about 697% above the lowest level this year. According to CoinGecko, its total market cap has surged to about $29 million.

What is VIDT Datalink?

VIDT Datalink is a blockchain project that seeks to change the data integrity and validation industry. The platform is made up of three key services: VIDT API, VIDT Private Cloud, and VIDT Smart Contract. 

VIDT works in a relatively simple way. It starts with publishing products like Salesforce, SAP, and other software products. These products are then connected to multiple cloud providers like AWS, IBM Cloud, and Google Cloud. Finally, they are linked nu the VIDT API, which is a cost-effective way to use the data integrity platform.

There are many use cases of VIDT Datalink. For example, it can be used by luxury brands like Rolex and Breitling to secure their timepieces. The companies can secure these timepieces using the platform’s technology and ensure that it cannot be replicated. When its ownership changes, VIDT’s smart contract features will then be moved to the new owner.

Compare the best crypto trading bots.

VIDT also has a lot of usage in the new and growing industry known as non-fungible tokens (NFT). One of the challenges that the industry is facing is how difficult it is to differentiate between genuine and fake products. Creators can use VIDT to ensure that their creations are not counterfeited.

At the core of this platform is the VIDT token. Each time that a publisher timestamps a file or an NFT, one VIDT transaction is made which records all the transactions into several blockchains.

VIDT Datalink price prediction

The daily chart shows that the VIDT price has gone parabolic this week. As it rose, the coin managed to move above the important resistance level at $0.27, which was the lowest point in July 2021. Now, it has moved above the 25-day and 50-day moving averages while oscillators have kept rising. 

I believe that these gains are not sustainable in the short term. As such, there is a high probability that the VIDT token will soon have a sharp pullback. If this happens, the next key support level to watch will be at $0.2736, which is about 46% below the current level.

The post VIDT Datalink price has gone parabolic but a 46% dive is imminent appeared first on CoinJournal.