Kategorie: Crypto Analysis

The crypto market started in 2022 badly. Most coins have since recovered from this slump, but they are nowhere near their highs. While there are still several risks in the broader market, 2022 could still turn out to be a great year for crypto. Here is why:

• Traditional asset classes have severely underperformed, and this could push investors into crypto.

• Some of the concerns investors had at the start of the year are slowly abating

• Crypto still remains a high growth asset despite its rocky volatility

Well, for investors who are looking for crypto gems that still have the potential to do well in 2022, here is the full list:

Decentraland (MANA)

Although the crypto market was hit hard at the start of 2022, metaverse coins like Decenterland (MANA) faced steeper falls. The coins have recovered somehow, but they are still very low compared to previous expectations.

Data Source: Tradingview 

The good news is that interest in the metaverse will keep growing. As a result, it is likely that MANA and other metaverse coins will turn things around before the end of the year.

Fantom (FTM)

Fantom (FTM) has had several hurdles to cross this year. After a poor start to the year, Fantom also reported that one of the main founders had left the project. This dented investor confidence, and the coin tanked. But we have seen a bit of recovery. Fantom still remains a very reliable DeFi project. It is worth watching it in 2022.

Loopring (LRC)

Loopring (LRC) is an Ethereum scaling solution that has been experimenting with a number of new technologies, including ZK Rollups. While the price has consolidated over the past few weeks, LRC still has so much potential. It is one of the few coins that can actually be 5x your money this year if conditions in the market improve. LRC however faces massive competition from other Ethereum scaling solutions.

The post These coins could still deliver superb gains despite a slow start in 2022 appeared first on Coin Journal.

Tron (TRX) has edged higher this week, even as other major coins struggle to report serious gains. The coin is however not done yet, and we could see more gains in the days ahead. Keep reading for more analysis but first, here are the main takeaways:

• Tron has outperformed the market and is up around 15% for the week

• The coin will target to clear $0.085 in the near term

• The momentum oscillator also shows TRX is bullish

Data Source: Tradingview 

Tron (TRX) – Price prediction

The crypto market in general has had a very sluggish week. But Tron has been doing quite well compared to other coins. The token is now up around 15% for the week, and more upside is still expected. In fact, if the current momentum holds, TRX will likely test the $0.085 mark in the days ahead. This will represent gains of around 35% from the current price. 

However, this bullish case will only be feasible if TRX closes the day above $0.7. At the moment, the coin has fallen slightly below this mark. But looking at the higher lows and higher highs set over the last 24 hours, it is very likely that TRX will in fact close well above $0.7.

Besides, the current momentum is pushing TRX very close to its 200-day EMA. If bulls breach this level, then we could see a sustained period of growth for Tron.

Why is Tron a worthy investment?

Tron is rated among the top 10 blockchain infrastructure projects in the world. if you are looking to invest in crypto long-term, this would be a decent coin to buy. 

Even in the short term, TRX still offers incredible opportunities. In fact, the coin has fallen sharply from its all-time highs. This dip could provide a nice opportunity for investors to cash in on Tron’s recovery over the coming months.

The post Tron (TRX) is targeting more gains after a superb bullish week appeared first on Coin Journal.

Cryptocurrencies provide an excellent way of making money and growing returns. For example, Bitcoin price has moved from below $5 in 2009 to over $40,000 today. Similarly, Ethereum has jumped from below $10 to over $3,000. In total, cryptocurrencies have moved from nowhere to become an asset class worth over $2 trillion. In this article, we will look at the easiest was to buy cryptocurrencies.

Using digital wallets

Online wallets are popular financial products that enable people to save, send, and receive cash from their loved ones or business partners. These wallets are popular because of how easy they are to use and the fact that they mostly have low fees.

The number of digital wallets has been in a strong uptrend as the fintech revolution continues. Some of the most popular wallets are PayPal, Cash App, Skrill, Neteller, Revolut, and Venmo among others.

As part of their strategies, many online wallets have now made it possible to buy cryptocurrencies inside their ecosystems. The goal is to simplify how people access financial services and to also make money doing that. 

Indeed, cryptocurrencies have become pivotal to Cash App’s business. For example, Cash App generated over $2 billion of revenue from cryptocurrencies in the fourth quarter of 2021.

These wallets offer one of the easiest ways to buy cryptocurrencies. For example, in 2021, PayPal introduced a way to buy, save, and send a select number of cryptocurrencies in its platform. Today, American and Britons can easily use the platform to buy Bitcoin, Bitcoin Cash, Ethereum, and other coins directly using PayPal and Venmo. 

The process of buying Bitcoin with PayPal is easy. First, you need to have an account with PayPal. Second, select the cryptocurrency that you want to buy and the amount you want to spend. Second, you should execute the trade. PayPal will then deduct the cash that you have from your account. Alternatively, it will directly make the purchase using your linked bank account.

The process is similar with other online wallets like Cash App. You just need to select the coin you want to buy and then execute the trade. 

There are several benefits of using these apps to buy cryptocurrency. First, the process is easy and it takes a few seconds. Second, most apps don’t charge a fee to execute the trade. Finally, they are safe options. The only disadvantage is that these apps don’t have a large selection of coins.

Using cryptocurrency exchanges

The other easiest way to buy cryptocurrency is through a centralized exchange. An exchange is a company that provides different cryptocurrencies for people to trade. In most cases, exchanges provide a website and mobile applications that let people buy coins. They also offer other tools that help them to make better and more informed choices.

Cryptocurrency exchanges work in a relatively similar way. They provide a marketplace where one can go and buy coins. After buying the coin, one can easily save them in their online wallets. When needed, a person can then convert their coins into cash and withdraw to their online wallets or bank accounts.

In addition, it is possible for people to move their cryptocurrencies from exchange to their cold wallets in a few steps.

The crypto exchange industry has become significantly saturated. CoinMarketCap tracks 511 exchanges from around the world. In total, these exchanges help to move cryptocurrencies worth over $100 billion every day. Some of the biggest exchanges in terms of volume are Binance, Coinbase, KuCoin, Huobi Global, Gate, and Crypto.com.

It is easy to buy cryptocurrency using an exchange. First, you need to find a credible exchange that guarantees the safety of your funds. In most cases, we recommend that you focus on popular exchanges like Binance and Coinbase instead of the smaller ones that are unknown. You can read our eToro review, CEX review, and Binance review.  

Second, you should create your account by providing your name and email address. After this, to comply with the law, many exchanges will seek to verify your account by confirming your location.

In the next step, you will need to select a cash deposit option. Many companies allow you to deposit your cash using a number of options like PayPal, credit and debit card, Neteller, and wire transfer. You can now buy your coins after completing your deposit process. Wire transfers take a longer period while card transactions are instant.

Using exchanges like Coinbase, Binance, and eToro is recommended because they are safe and they provide more coins. They also provide more solutions like staking, leverage tokens trading, and perpetual futures trading.

Using a peer-to-peer exchange

Another easy option for buying cryptocurrency is to use a peer-to-peer exchange platform. These are companies that provide a platform where people can buy and sell cryptocurrency among themselves in an easier manner. A P2P exchange provides a platform that ensures safety.

They work in an easier way. After creating and verifying your account, you will select whether you want to buy or sell a coin. When buying, you will see numerous people who are selling coins and their prices. Select your preferred one and then make a payment to them directly. After they receive their funds, the coins deposited in the Escrow will be transferred to you.

There are several reasons for using a P2P exchange. First, they are easy to use. Second, you can use arbitrage by buying a coin at cheap prices and then selling it instantly at a higher price. Third, you can use your preferred option to complete the transaction. Examples of P2P payment platforms are Paxful, Local Bitcoins, and Binance P2P

The post Top 3 Easiest Ways to Buy Crypto appeared first on Coin Journal.

The Maple price jumped sharply on Friday as demand for the Decentralized Finance (DeFi) ecosystem continued growing. MPL rose to a high of $61.30, which was the highest level since April 17th. It has risen by more than 23% from its lowest level this month, bringing its total market cap to more than $296 million.

What is Maple and why it rising?

Decentralized Finance (DeFi) is one of the biggest industries in the blockchain industry with over $210 billion in assets. This is a substantial sum of money considering that the industry was not in existence a few years ago.

Maple is a DeFi platform that offers services that are similar to other popular networks. It describes itself as the Crypto Capital Market as it provides undercollateralized loans for institutional borrowers. The network receives funds or liquidity from users seeking to earn a return and then extends them to institutions.

According to its website, the network has originated loans worth over 1.2 billion USD Coins. From those loans, lenders have received interest worth over 24.4 million USDC. At the time of writing, it has provided about 82 loans.

Some of the loan pools in Maple Finance are provided by Celcius, BlockTower Capital, Alameda Research, and Orthogonal Trading among others. Alameda is the company founded by Sam Bankman, the founder of FTX.

The Maple price is rising as the total value locked in the protocol ticked upwards. According to DeFi Llama, the network now has over $82.4 million in total value locked (TVL). This amount is substantially higher than where it was in March this year.

Maple price prediction

The Maple price has been in a bullish trend in the past few days. It has jumped by more than 22% from the lowest level this month. The coin has moved above the 25-day and 50-day moving averages while the MACD indicator is crossing the neutral level. It has also moved above the important support level at $51.32. It had failed to drop below that support several times this month.

Therefore, it seems like bulls are now in control and that the coin’s price will continue rising as they target the key resistance at $68.88. A drop below the support at $51 will invalidate the bullish view. Here are more cryptocurrencies to invest in.

The post Maple price prediction: What is MPL and is it a good investment? appeared first on Coin Journal.

The broader cryptocurrency market has been underperforming over the last 24 hours.

The crypto market has been underperforming since Thursday, losing more than 1% of its value. The total cryptocurrency market cap has dropped below the $1.9 trillion mark once again, with some of the gains recorded earlier this week now erased. 

Bitcoin, the world’s largest cryptocurrency by market cap, is down by more than 2% in the last 24 hours and could drop below $40k if the bearish trend continues. 

Ether has also lost more than 2% of its value in the last 24 hours but continues to trade above the $3,000 psychological level.

DCR, the native token of the Decred ecosystem, is up by more than 21% over the past 24 hours. Thus, making it the best performer amongst the top 100 cryptocurrencies by market cap.

At press time, DCR is trading at $71.20 per coin. There is no major catalyst behind DCR’s ongoing rally. However, the cryptocurrency has added more than 30% to its value in the last seven days. 

Key levels to watch

The DCR/USD 4-hour chart is the most bullish amongst the top 100 cryptocurrencies by market cap, thanks to the coin’s positive performance over the past week. The technical indicators show that it could rally higher in the coming hours and days.

The MACD line is above the neutral zone, indicating a sustained bullish momentum. The 14-day relative strength index of 60 shows that DCR could enter the overbought region if the rally continues.

In the event of an extended rally, DCR could surpass the first major resistance level at $73.54 over the next few hours. However, it would need the support of the broader market to comfortably move past the $75 psychological level.

The post Why is Decred up by more than 20% in the last 24 hours? appeared first on Coin Journal.