Kategorie: Crypto Analysis

A big portion of the crypto market has shown some decent rallying over the last few days. Zilliqa (ZIL) is not any different. However, even with this short-term bullish momentum, the longer-term outlook for this token looks under par compared to its peers. Here are some highlights:

• Zilliqa (ZIL) has largely shown immense volatility over the last 12 months and we expect this to continue in 2022.

• At the time of writing, the token had surged by nearly 11% in 24 hours, trading at $0.05708.

• ZIL still has a market cap of $705 million so there is still room to climb.

Data Source: Tradingview 

Zilliqa (ZIL) – Price prediction and analysis

Zilliqa (ZIL) has been on a consistent downtrend since November last year. Although we have seen periods where the coin has rallied, the general trend has often been bearish. But we are starting to see some signs that Zilliqa (ZIL) could actually start to pair up some of the losses it has reported at the start of 2022. 

The token has gained over 11% over the last 24 hours and has also seen gains of around 30% last week. It’s highly unlikely though that ZIL will reclaim its all-time highs anytime soon. In fact, although we expect the token to actually grow this year, it is likely going to underperform some of its peers.

Is Zilliqa (ZIL) still a decent buy?

Due to its wild volatility, it’s understandable that a lot of investors will steer clear of Zilliqa (ZIL). But do not let this fool you. This is still a very decent asset and has offered value for investors before. 

It simply needs patience. Right now, ZIL is slightly out of the top 100 cryptos. But with a market cap of around $700 million, you could argue that the growth potential is still there for the long term.

The post Zilliqa (ZIL) could teeter in 2022 despite rallying impressively over the last few days appeared first on Coin Journal.

Algorand (ALGO) looks poised for a bullish breakout. After dropping below the $1 mark, the coin has actually been consolidating there the past few days. It seems like it’s about to break out, especially now that we have seen sentiment in the market get better. Here are some highlights:

• The $1 mark has proved to be a very strong overhead resistance zone for ALGO but the token has tested it continuously.

• At the time of writing, ALGO was trading at $0.9793, up by about 6% in the last 24 hours.

• If indeed the coin is able to break above the $1 mark, then we could see a genuine 25% rally in the days ahead.

Data Source: Tradingview

Algorand (ALGO) – Price analysis and prediction

After falling below the psychologically crucial point of $1, ALGO has actually consolidated well just below that. The coin has retested the $1  threshold a few times but has yet to break free. 

In fact, over the last 11 days, ALGO has largely been slightly off $1, and this suggests that the period of price consolidation is now over. As such, Algorand is poised for a rally. 

If indeed we see a surge past $1, then expect ALGO to add at least 25% in value. But if bear pressure pushes it below weekly resistance of $0.8, more weakness may follow in the near term.

Why Algorand (ALGO) is a good buy

Algorand (ALGO) calls itself a self-sustaining decentralised blockchain that offers an elaborate ecosystem for a huge variety of applications. The network has continued to see major gains since launching in 2019. 

There are millions of transactions here, with more expected to come in the future. As far as the best blockchains go, Algorand is indeed among the top 10. It’s an asset worth having, especially for long-term value investing. 

The post Algorand (ALGO) could rally by nearly 25% after a period of price consolidation- Here is why appeared first on Coin Journal.

Despite experiencing a lot of volatility over the last week or so, Unus Sed Leo (LEO) has seen a massive uptrend. The breakout in fact took LEO to a new all-time high of $5.21. Although we do expect some pullback in the price, the bullish uptrend still remains strong. Here are some notable highlights:

• At the time of writing, Unus Sed Leo (LEO) was trading at $5.21, up nearly 30% in 24 hours only.

• The coin has also been surging over the past 7 days, reporting weekly gains of over 52%.

• Analysts expect this bullish uptrend to continue over the coming days.

Data Source: Tradingview 

Unus Sed Leo (LEO) – Price prediction and analysis

The recent surge in LEO has surprised many. The token is outperforming the entire market and it seems like more is yet to come. All technical indicators show a very strong bullish trend. 

For example, the token is trading way above its 100-day simple moving average of around $3.5. It has also surged nearly 600% above its 52-week lows and has surged past several key resistance zones in the past few days. 

Although we expect some pullback in the price, the general trend over the coming days will be up and up. The LEO surge comes even as other crypto-assets moves into the green with improved sentiment in the market.

Is Unus Sed Leo (LEO) a good buy?

Unus Sed Leo (LEO) is the main utility token for the iFinex ecosystem. It was launched in 2019 for Bitfinex users, and ever since LEO has seen immense growth. 

The long-term prospects of this coin are definitely positive. For the person who wants to just buy and hold it for a year or thereabout, then you are likely to cash in big in the long run.

The post Unus Sed Leo (LEO) surges to all-time highs – But bullish momentum still remains appeared first on Coin Journal.

 The volatility of most cryptocurrencies brought about the deployment of stablecoins. These assets are pegged to external assets, mostly fiat currencies. Of all the stablecoins, tether and USD coin rank higher and are both tied to the USD. Similarly, they are listed on virtually every exchange, dApp, and wallet.

 USDT was the first to be created and was issued in 2014 by Tether Limited to integrate fiat into the crypto space. It has the highest market cap and is the most traded in the market. It is used to conduct trading activities and to settle transactions on the various blockchains it is compatible with. Also, other cryptocurrencies can be converted to USDT to evade volatility while earning rewards for holding it.

 USDC is the stablecoin created by Circle Internet Financial and Coinbase and was launched in 2018. Transparency and stability are managed by Centre Consortium. It was deployed using the Ethereum blockchain and as such, it can be used by various dApps. This has made it popular in the DeFi ecosystem where holders can enjoy lending and high yield savings among others.

 Both stablecoins have a central authority and maintain a slightly fluctuating price. As of today, both coins have maxed out their total supply. In May 2019, USDC peaked at $1.17 but costs $0.99 right now. USDT is exactly $1 now but reached an ATH of $1.32 in July 2018.

 As stated earlier, USDT is the most traded with a market cap of $78.2 billion while USDC follows it closely with a $31 billion difference. Although they are both available on Ethereum, Algorand, and Solana, USDT has compatibility with Tron, EOS, OMG, SLP, and Bitcoin blockchains. USDC is inspected by Grant Thornton monthly and USDT is audited by Freeh Sporkin and Sullivan LLP.

 In choosing the better USD variant, the exchange would play a part. However, of the two, USDC is the better investment as it is stable, regulated, and regularly audited. Bear in mind that crypto investment is very risky no matter how stable it seems. Do your research and deal wisely.

The post The best choice of stablecoin: Tether (USDT) vs USD (coins) appeared first on Coin Journal.

Tezos (XTZ) is starting to put the choppy days of January well behind it. The coin has been surging over the last seven days despite a somewhat slowed recovery in the broader market. Tezos (XTZ) also announced today that it is signing a new sponsorship deal with Manchester United. Here are some highlights:

At the time of writing, Tezos (XTZ) was trading at around $3.87, up about 6% over the last 24 hours alone.

The coin has also surged in the past week, gaining a whopping 32% in the process.

The new sponsorship deal with Manchester United is reported to be worth £ 20 million a year

Data Source: Tradingview

Tezos (XTZ) – price prediction and outlook

Most coins did not have a good January and a fresh new month of course brings fresh optimism. Well, it seems like Tezos (XTZ) is really taking advantage of improved sentiment in the market. 

The token has been on a massive bullish uptrend over the last 7 days gaining nearly 32%. Tezos (XTZ) is also seeing decent gains in intraday trading. The coin is up around 4%. 

We have also seen an uptick of the trading volume. It’s unclear if the Manchester United deal had anything to do with this. But it is highly unlikely since the news just broke a few hours ago.

Long term outlook for Tezos (XTZ)

As a major smart contracts platform designed to offer an alternative to Ethereum, Tezos (XTZ) has worked quite hard to build its ecosystem. The chain has also created advanced and reliable blockchain infrastructure as it looks to evolve into an efficient and dependable project. 

It is by far one of the most exciting tokens out there. Besides, the sponsorship deal with Manchester United is an indication that the platform is sparing no effort in expanding its reach. So, based on these fundamentals, Tezos (XTZ) will continue to grow in the long term.

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