Kategorie: Crypto Analysis

Solana has often been described as the ‘Ethereum killer’. The project is looking to address some of the key challenges associated with Ethereum and appears to be doing a very good job of this. Here is why Solana has often been touted as the next big thing:

• The project offers incredible on chain transaction speeds better than many projects

• Solana is backed by the top brass of the crypto investment community

• It also offers low fees, scalability, and a lot of developer incentives.

But Solana is not the only Ethereum killer, in fact the three projects below could be much better and more valuable:

Cosmos (ATOM)

Cosmos (ATOM) has often been referred to as the mother of all blockchains. The aim is to create a powerful ecosystem of interconnected blockchains. Cosmos wants to create a connected system of decentralised chains as it ushers in a new age of the internet. 

Data Source: Tradingview 

Interestingly, the project is hoping to do this while keeping speeds high, costs low, and scalability incredibly good as well. This makes Cosmos one of the most promising Solana and even Ethereum alternatives out there.

ThunderCore (TT)

ThunderCore (TT) is a relatively unknown and new project that is modelled behind the Solana concept. The aim of ThunderCore is to offer greater speeds and scalability while keeping the transaction fees low.

In fact, ThunderCore is faster and more secure than Solana and other similar projects. When you consider that it has a market cap of less than $100 million, it should be a very interesting project to check out in the future.

NEM (XEM)

NEM (XEM) is a bit older than Solana, but it shares similar attributes. XEM offers top of the line security, and better speeds. And the good thing is that it’s already proven in the market. This is a project that has been here for several years.

The post Looking for the best Solana alternatives: Top 3 coins to consider right now appeared first on Coin Journal.

The crypto market has pulled back after the end of March rally. Tron (TRX) has been hit hard, and it seems like the coin is starting to get bearish barely days after posting one of the best uptrends this year. The coin could plummet even further before consolidation. Here are some of the key facts:

• The 3-day chart since Monday shows TRX has formed a large bearish trend

• Momentum indicators like RSI also show that the coin is bearish.

• Tron will likely drop to $0.5 before it finds its bearings again.

Data Source: Tradingview 

Tron (TRX) – The bearish short-term trend

There were a lot of positive outlooks on Tron last month. The coin had managed to post a 30% counter-trend rally which would later give way to a sustained bull run that saw TRX hit 2022 highs. 

Based on this, it was expected that overall, the coin would continue to post gains and even test $ 0.2 in the near term. But the bullish trend appears to have sharply reversed. TRX has lost a lot of value this week, and its 3-day candle now points to a bearish outlook.

TRX also remains very far away from the next overhead resistance. This suggests that bears are now in control and will look to take the price to $0.05 before any other bull run. This will represent sustained losses over the last week of nearly 30%. However, a close above $0.82 will invalidate this prediction.

Should you stay away from Tron?

For now, TRX remains highly risky so it may be best to stay away for a while. Since the coin is already on a downtrend, buyers can wait to see how soon it will bottom at $0.05. 

Once it hits this price, it is likely that TRON will consolidate. This will be the perfect time to buy, provided overall conditions in the market are positive.

The post Tron (TRX) continues to plummet and could bottom at $0.05 in the days ahead appeared first on Coin Journal.

After reporting a sharp fall over the last three days, it seems like Loopring (LRC) has started to consolidate. The coin could find enough demand for another rally in the coming days. But how fast will this happen? More analysis to follow but here are the latest developments:

• Despite the recent fall, LRC is still within an important upward trend line

• The coin also shows a bullish signal on the Relative Strength Index (RSI)

• LRC could surge towards $1.2 before it tries to consolidate once again.

Data Source: Tradingview 

Loopring (LRC) – Analysis and price prediction

The last 3 days have proved quite difficult for LRC holders. The coin has seen a major drop and was in fact down by around 7% in the last 24 hours. But this doesn’t mean the token is in a bear market. 

We are in fact seeing a period of price consolidation within a very important upper trend line. As such, we expect LRC to report more gains in the days ahead. Conservative estimates show that the coin could hit $1.2 before it finds further momentum. This will still represent a gain of around 20% from the current price.

Also, the RSI reading shows LRC is now in oversold territory. This could suggest that any risk of another major sell-off is highly unlikely. This analysis will however be null and void if LRC falls below $0.735.

Why should you buy LRC now?

Loopring is a scaling solution for Ethereum that has a lot of star-studded investors. It’s a project that has great long-term value. There is also an opportunity to make a return on a short-term trade.

Since the coin is roughly trading at around $1 right now, there is a likely 20% upswing in the days ahead if the surge towards $1.2 happens. The perfect entry zone for this short-term play will be between $0.74 and $1.

The post Loopring (LRC) could rally to $1.2 in the near term – Here is the setup appeared first on Coin Journal.

Cryptocurrencies have lost the shine they had in 2021. Most of them have dropped by more than 40% from their all-time highs and the volume of coins being traded every day has fallen. Still, amidst the chaos, some cryptocurrencies will continue doing well. In this report, I will explain why Terra is the best cryptocurrency to buy right now.

What is Terra?

Terra is a leading blockchain project that was started by a group of South Korean software developers. Their goal was to use the inspiration of Bitcoin to build a new form of money that is simple to use and safe. Their first product using its network was a platform known as Chai, which has grown to become one of the most popular fintech app in the country.

Today, Terra is known mostly for its algorithmically-adjusted stablecoins. A stablecoin is a cryptocurrency that is backed by another stable asset like the US dollar. Unlike Tether and USD Coin, Terra’s stablecoins are affected by market forces of demand and supply. When demand for Terra is high and supply is low, its prices increase and vice versa.

ITerra USD is the fourth-biggest stablecoin in the world with a market cap of over $16 billion. It also has TerraKRW (KRT) which has a market value of about $30.7 million. 

Terra has been growing

Terra’s governance coin is known as LUNA. According to CoinGecko, it has a market cap of over $35 billion, making it the eighth biggest coin in the world.

Terra, like other blockchain projects like Solana and Near, has raised billions of dollars from venture capital firms. In February, the developers raised $1 billion through a token sale. At the time, the developers said that they would use these funds to build a Bitcoin reserve for its stablecoins.

And in March, the developers announced that they would buy Bitcoin worth $10 billion and Avalanche worth $200 million. The goal of these purchases is to let them back their stablecoins, which have become very successful.

Terra ecosystem

In addition to Terra’s ecosystem, another reason why it has become my best cryptocurrency to buy is that its ecosystem has been growing. 

While Terra is known for its stablecoins, the reality is that it is widely used in other places as well. The most notable of them is the fact that Terra is used as a platform for building decentralized finance (DeFi) applications.

The success of Terra’s stablecoins and LUNA in the marketplace has attracted more developers to the ecosystem. In fact, according to DeFi Llama, Terra has become the second-biggest platform for DeFi developers after Ethereum. And if the trend continues, there is a likelihood that it will pass Ethereum in the coming years.

Terra has a total value locked (TVL) of $28 billion. Some of the biggest applications in the ecosystem are some of the largest in the industry.

For example, Anchor Protocol is the biggest DeFi platform built using Terra’s technology. It has a TVL of $15 billion and is still in a strong growth path. It is followed by Lido, which has a TVL of $8.22 billion, and Astroport which has $1.6 billion. Other leading DeFi apps built using Terra are Stader, Mirror Protocol, and Prism Protocol among others.

What is notable is that 11 apps in Terra’s ecosystem have a TVL of more than $100 million. This is a substantial number considering that its ecosystem is still small and growing.

Terra price performance

Another reason why Terra is my best cryptocurrency is that its performance tends to be uncorrelated with Bitcoin and other coins. For example, as shown below, LUNA jumped to an all-time high in 2021. At the time, Bitcoin was still substantially below its all-time high. Moreover, it has outperformed Bitcoin and other coins over the years, making it a good coin to buy.

Learn how to buy Terra here, or invest with our preferred trading platform below.

*This is not financial advice.

The post My Top Cryptocurrency to Buy Right Now appeared first on Coin Journal.

Many coins are experiencing a mixed start to April. Polygon (MATIC) in particular, appears to be losing momentum after a strong push at the end of last month. But despite this, the altcoin is still eying some all-time highs in the near term. Here are all the facts you need to know:

• MATIC still remains within a crucial demand zone despite falling 8% in 24 hours.

• Technical indicators suggest that a surge towards $2 is highly likely this week.

• This could open up a door for a new all-time high of $3 in the near term.

Data Source: Tradingview 

Polygon (MATIC) – The road to ATHs

Hitting $3 may have seemed inconceivable for MATIC a few weeks ago. The coin was really struggling to find any upward momentum. But things have really turned around. At one-point MATIC was in fact testing $2 albeit it has since fallen ever since.

But even with this slowed uptrend, the coin is now between a crucial demand zone of between $1.44 and $1.55. If bulls are able to maintain the price within this range, it is likely that MATIC will break out and race towards $2 again in the coming days.

The key thing after this would be to see just how long the price can stay above $2. If we see a sustained push above $2, it will only be a matter of time before MATIC smashes $3, setting a new all-time high in the process. This thesis will however be invalidated if the price closes below $1.44.

Is MATIC a good buy now?

As long as MATIC remains within the demand zone listed above, we believe it has a lot of upward momentum. It would therefore make sense to buy it and exit at around $2. Long-term investors can also grab MATIC right now before they are priced out in the coming rally.

The post Polygon (MATIC) eyes new all-time highs – Can it actually do it? appeared first on Coin Journal.