Kategorie: Crypto Analysis

Bitcoin Cash (BCH) looks poised to maintain its overall bearish outlook. The coin is facing significant downward pressure as sentiment in broader crypto remains uncertain at best. Although BCH has largely been trading sideways over the last few weeks, we do not see enough upside for a bullish surge in the near term. Here are some important highlights:

• At the time of reporting, the coin was selling for $431, significantly down from its monthly highs of around $482.

• Analysts see the $500 mark as a big psychological barrier for investors, but a possible rally towards that in the near term looks unlikely.

• BCH is also trading below its key moving averages, suggesting a bearish alignment is in force at the moment.

Data Source: Tradingview.com 

Bitcoin Cash (BCH) – Price action and predictions

In November, BCH managed to hit $732, its highest price in two months at the time. But this was a short-term rally as the coin tumbled thereafter. BCH is currently priced at $431. We see the next support at $413. 

If bear pressure persists, the coin could easily retreat towards that price. Overhead resistance, on the other hand, is at the $489 mark. We also noted that BCH is trading below its crucial 25-, 50-, and 200-day exponential moving averages. 

With sentiment in the crypto market uninspiring right now, we don’t see this bearish outlook breaking in the near term. If anything, once BCH drops past the $413 support, then further decline below $400 is inevitable.

Should you buy Bitcoin Cash (BCH)

Bitcoin Cash (BTC) was built to provide secure and fast digital payment systems. It has seen wide adoption and will continue to rank as one of the most innovative crypto projects. However, right now, it’s not the best time to buy. I’d wait till the bearish outlook abates before buying in.

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The crypto market has typically attracted a lot of new innovations. But there are also some tokens that are simply launched for that feel-good factor and not really based on any intrinsic value. Football tokens are in that category. They are basically designed to be part of the loyalty and passionate fanbase we know in football. Nonetheless, here are some facts about football tokens:

• Football fan tokens don’t typically have a lot of underlying value and are simply loyalty assets targeting fans.

• Some football clubs are also adding the sale of NFT collectibles in addition to the fan tokens as well.

• These tokens also benefit a lot from the visibility and the name recognition associated with these clubs.

Well, in case you are thinking of grabbing yourself some fan tokens, here are a few options to consider by market cap:

Paris Saint Germain Fan Token (PSG)

The Paris Saint-Germain Fan Token (PSG) is a fan token for the supporters of one of the biggest clubs in France. The coin is available for trading in all major exchanges around the world. 

Data Source: Tradingview.com 

At the time of writing, it was selling at around $15.23 with a market cap of $48 million. It is also the largest fan token by market cap right now but still falls way low in the overall crypto market, ranking 622.

S.S. Lazio Fan Token (LAZIO)

Lazio is one of two big clubs based in the Italian capital of Rome. Its fan token is surprisingly valuable, seeing that the club is not really one of the biggest in the world. Nonetheless, the S.S Lazio Fan Token (LAZIO) is currently trading at around $4.57, down 13% over the last 7 days. The coin has a market cap of around $40 million. 

You don’t have to be a fan of these clubs to buy these tokens. But since they don’t have a lot of intrinsic value, they can be highly risky.

The post Best football club fan tokens to buy by market cap appeared first on Coin Journal.

Decentralised exchanges or DEXs have become quite popular in the crypto space partly because of the security and privacy that they offer. However, cross-chain DEXs in particular are quite incredible. After all, they allow investors to swap crypto assets across various blockchains without incurring high gas fees. Here is why these exchanges are important:

• DEXs offer permissionless and non-custodial transactions, something that makes them more secure and private.

• These exchanges are also highly scalable and could conceivably become as dominant as centralised exchanges in the future.

• The biggest challenge with DEXs is maintaining high liquidity by cross-chain platforms can solve this.

In case you believe in cross-chain DEXs and the future they have, there are two tokens you should check out and buy if you can. Here they are:

1Sol (1SOL)

1Sol (1SOL) is a DEX aggregator that works across chains to find and bring available liquidity in one single place. It is the native DEX aggregator for Solana and is designed to help reduce gas fees, slippage, and enhance speeds in transactions. 

Data Source: Tradingview.com 

The protocol also hopes to address the demand for DEX aggregators on Solana. The native governance token for this platform is called 1SOL. At the time of writing, the token was trading at $1.06. 1SOL also has a fully diluted market cap of around$105 million with a lot of upside growth potential.

SolanaX (SOLD)

SolanaX (SOLD) is a cross-chain automated market maker protocol designed to facilitate fast crypto swaps in a fully permissionless and decentralised manner. The platform is built on Solana but also has cross-chain interoperability with Ethereum. This makes it a versatile DEX with enhanced liquidity, low trading fees, and faster transaction speeds. 

SolanaX also wants to create a comprehensive ecosystem of DeFi apps, including a fully decentralised auction protocol, the SolanaX prediction market, and others. At the time of writing, its native token SOLD was selling for $0.1061.

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Staking offers crypto investors a chance to make decent passive income while taking considerably less risk compared to trading crypto directly. In essence, staking involves placing crypto assets in locked digital wallets for the purpose of validating transactions in Proof-of-Stake blockchains. It’s the inverse of crypto mining, and here is why you should look at it seriously.

• You don’t need to invest in expensive computer equipment to do staking. Just a few crypto assets are needed.

• Staking offers interest on all assets staked that can go as high as 20% per year in several blockchains.

• Also, once the assets are staked, you simply earn some passive income on the side.

Well, if you are thinking of adding crypto staking as part of your overall investment strategy, then there are some coins you must consider. Here they are:

BitDao (BIT)

BitDao (BIT) is one of the leading decentralised autonomous organisations (DAOs) in the world. The platform is designed to attract talented developers to create and deploy innovative DAOs across various chains. BIT is the native governance token on the platform that can also be staked for excellent returns. 

Data Source: Tradingview.com 

In fact, staking BIT delivers an annual average return of around 14.77%. Besides, the token is a very promising coin backed by superb underlying fundamentals. At the time of writing. BIT was trading for $2.17 with a market cap of around $1.2 billion.

Terra (LUNA)

Terra (LUNA) is a stablecoins network designed to deliver what it calls a price-stable global payment system. Terra is one of the biggest blockchain projects right now. 

Its native governance token LUNA, which is also used for staking, has a market cap of $33 billion. This ranks it among the top 10 crypto assets by market cap. Also, staking LUNA will deliver average annual returns of around 12.5% for investors.

The post These are the best cryptocurrencies for staking appeared first on Coin Journal.

Elrond (EGLD) is a highly scalable and powerful blockchain designed for distributed apps. The chain is hoping to become the driver of the new internet economy and is billed as a developer-friendly platform with secure and efficient transactions. Here are some reasons why Elrond is growing:

• Elrond offers an alternative to major blockchains like Ethereum, which have been associated with higher fees.

• The chain is also a scalable ecosystem that allows for the launch of innovative DApps and De-Fi products.

• The network is poised to offer superb speeds, completing up to 15,000 transactions per second.

Several projects have been built on Elrond over the past few years, and they are as promising as they sound. Here are two main ones to watch out for:

The Orion Protocol (ORN)

The Orion Protocol (ORN) is a liquidity aggregator designed to work across multiple exchanges. In essence, the platform aggregates all available liquidity across exchanges and puts it in one single decentralised platform. The Orion Protocol basically addresses the liquidity challenges that are typically associated with Decentralised exchanges or DEXs. 

Data Source: Tradingview.com 

It was founded in 2018 and runs on the Elrond Mainnet. The value of ORN, its native governance token, is expected to rise as DEXs become more widespread in the near term. At the time of writing, ORN was selling for $6.09 with a market cap of $250 million.

Maiar (MEX)

Maiar (MEX) is an upcoming decentralised exchange designed to be the main exchange platform on Elrond. Mair is expected to also be a comprehensive all-in-one De-Fi ecosystem that, according to the developers, will “radically change” how we interact with money. 

The platform’s native token is going to be the MEX. Maiar is yet to launch, making it a good choice for investors who want to get in as early as possible.

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