Kategorie: Crypto Analysis

The crypto market has been up and down lately. The volatile market is just so hard to predict but despite this, there are still some altcoins that remain very bullish from a long-term point of view. Here is why this is the best time to buy:

• Most cryptos are trading way lower form all-time highs

• The geopolitical and economic pressures are likely to ease in the near term.

• Crypto still delivers more value than any other asset class out there.

Well, if you are thinking of starting March with some altcoins in your portfolio, here are three options to consider.

VeChain (VET)

VeChain (VET) has seen some incredible downturn this year. The coin is in fact down nearly 15% over the last week alone. But this bearish trend will not last. This is an altcoin that still has so much to offer, and the underlying fundamentals are quite incredible.

Data Source: Tradingview

For folks who are looking for assets to buy and hold for a year or thereabout, VeChain is really a good long-term bet. You just need to be ready for the short-term volatility.

Stacks (STX)

Stacks (STX) is actually one of the few crypto assets that have been surging recently. The coin is up nearly 35% in the last week and managed even to swing by 60% in 24-hour intraday trading. The layer 1 blockchain has a market cap of around $2.3 billion, and there is so much room for more growth. Like VeChain, it’s also a nice long-term bet.

Huobi Token (HT)

The Huobi Token (HT) is linked to the Huobi exchange, one of the largest crypto exchanges in the world. The altcoins have faced increased pressure due to the ongoing crypto crackdown in China. But it still remains a major player in this space and is likely to see more gains in the future.

The post The best altcoins to kickstart your March Investment Journey appeared first on Coin Journal.

• Zcash rallies as privacy coins gain upside momentum.

•  Zcash is pretty safe from adverse regulations targeting private transactions. 

• Zcash is currently making higher lows, an indicator that bulls are firmly in control. 

Zcash (ZEC), like the other privacy coins, has been rocketing over the last 24-hours. When going to press, Zcash was up by 10%.

Zcash is one of the most powerful privacy coins out there, thanks to its use of Zero-Knowledge Proof technology. Zk-SNARKs are a type of proof that can be used to show ownership without revealing information. One side uses it as evidence, and the other party believes them because they have zero-knowledge succinct noninteractive argumentative knowledge about what’s being proven.

Essentially when using Zcash, no one can trace a transaction through the blockchain. However, unlike Monero, Zcash has a feature that allows users to make non-private transactions. This feature puts Zcash at a lower risk of negative regulations than other privacy coins. 

Zcash safe from upcoming U.S regulations

Crypto regulations are coming to the U.S, and one of the issues they intend to address is the use of cryptocurrencies for illicit activities. This means cryptocurrencies that can be used to shield transactions may face restrictions in the U.S. 

Zcash is one of those that are pretty safe from these because it is designed for both private and non-private transactions. This means even if regulations trigger a delisting of privacy coins, as happened in Japan a while back, Zcash could be safe.

Zcash continues to make higher lows.

Source: TradingView

Like other privacy coins, Zcash has pumped in the last 24-hours. However, unlike the rest that is already showing weakness, Zcash is still strongly bullish. In the last 12-hours, Zcash has been making lower highs, as it continues trading in a bullish channel. If the current trend continues, Zcash could test $150 in the short term. 

Summary

Zcash is rallying alongside the other privacy coins. Zcash has an advantage over other privacy coins if regulations in the U.S target private crypto transactions. That’s because it also allows for non-private transactions.

The post Zcash is making higher lows as bulls take control appeared first on Coin Journal.

After a torrid start to March, Bitcoin Cash (BCH) has started to rebound. The coin in fact surged above the crucial psychological mark of $300. But how far can these gains last? Will BCH touch on $375 in the near term? Here are some highlights.

• The general trend for BCH has largely been downward over the last few months.

• The coin remains slightly above its 20 Day Exponential moving average.

• At press time, BCH was trading at $302, up about 7% in 24 hours.

Data Source: Tradingview 

Bitcoin Cash (BCH) – is $375 likely?

There is a lot of uncertainty in the market right now, given the fallout from the Russian invasion of Ukraine. It’s safe to assume that not everything is priced into the market since we don’t really know what will happen next. What we can expect though is increased volatility around crypto and BCH is not any different.

However, we do not see enough upside for BCH to reach the heights of $375, at least not now. In fact, it is likely that the coin will surge towards its supply zone of between $319 and $326 before falling again.

BCH has already lost nearly 64% of its value in less than 3 months. It even hit a 15-month low of $275 in January this year. This downtrend has not broken, and despite the recent surge, we expect more weakness for BCH in the coming days.

Why buy Bitcoin Cash (BCH)

As one of the leading peer-to-peer electronic payment coins, there is a lot of utility for BCH. When crypto becomes highly integrated into global payment systems, BCH is likely to lead the way in this. 

From a fundamental point of view, it is one of the best coins to invest in simply because of the underlying value that it offers. The fact that right now it’s selling cheap should give you more incentive.

The post Bitcoin Cash (BCH) rises above $300 after the recent downturn – Is $375 plausible right now? appeared first on Coin Journal.

• Monero rallied by over 20% in the last 24-hours. 

• Speculation is rife that upcoming regulations in the U.S or Russian sanctions are behind the pump. 

• If bulls sustain momentum, Monero could break $250 in the short term. 

Monero (XMR) is one of the world’s best cryptocurrencies when it comes to privacy. Monero uses a ring signature approach to sign transactions, which means multiple signers are brought together to authorize a transaction randomly.

For this reason, no one can trace transaction addresses, balances, or transaction histories. For this reason, Monero coins are fungible, which means that all coins are interchangeable, and none can be blocked.

In the past 24-hours, Monero has rallied by over 20%, making it one of the best performers of the day.

Why is Monero rallying?

There is growing consensus among investors that the U.S is about to introduce a raft of regulations that could affect the use of cryptocurrencies. This has seen users turn to privacy coins since transactions cannot be traced. 

There is also speculation that Russians could turn to privacy coins due to the sanctions on the Russian financial system. Monero is perfect for this role because it is private by default, which means Monero coins cannot be sanctioned.  

Monero eases up after 20% rally 

In the last 12-hours, Monero’s upside momentum has eased up. However, Monero bears have been unable to erase the gains that were made in the first hour of the day. This indicates that the price drop is due to profit-taking, and the overall momentum remains bullish.

If bulls regain control and push Monero through the 24-hour high of $207.8, prices above $215 could be tested in the short term. 

On the other hand, if bears gain momentum and push Monero through the day’s support at $169.65, prices below $150 could be tested in the short term. 

Summary 

Monero rallies as a combination of upcoming U.S crypto regulations and Russian sanctions favor privacy coins. While Monero’s price has eased up due to profit-taking, the overall momentum remains bullish.

The post Why Monero is outpacing most big cap cryptos in gain appeared first on Coin Journal.

In September, El Salvador became the first country in the world to adopt Bitcoin as legal tender. A seminal moment for the crypto world at large, and attention then turned to who would be next.

Last week, we got our answer. Not a country, but a city – Lugano, the Italian-speaking city in Switzerland. Yeah, we didn’t expect it either. 

A small city of only 62,000, a quick Google Image search will tell you that Lugano is magnificent; the city nestled stunningly by the eponymous lake in Switzerland. Now, it has a swanky new currency to match its jaw-dropping views. In fact, it has three of them. Lugano announced, via a partnership with Tether, that Tether, Bitcoin and LVGA (a CHF stablecoin launched by the city) are now “de facto” legal tender.

This means citizens can pay their taxes, parking fines, tuition fees, tickets to public events and more in crypto (I also managed to confirm that you can even pay your cemetery tax via the blockchain, in case you were wondering).

Plan B

The goal of the project goes beyond simply accepting crypto day-to-day, however. The aim is to establish Lugano as the blockchain hub of Europe. The city wants to attract crypto talent, startups and investment from around the world.

Tether Chief Technology Officer Paolo Ardoino spoke at the launch event, confirming a 100 million CHF ($107 million) fund for “start-ups that want to relocate here and want to put their headquarters here”. There will also be “3 million CHF investment into practical grassroots blockchain projects”, “a start-up hub for 25+ innovative companies”, a “space for meetups and workshops open to the public” and “500+ student grants for education in bitcoin and decentralised technologies”.

It’s certainly a tempting sales pitch for any young, enthusiastic crypto entrepreneur. And that’s before you catch a glimpse of Lake Lugano…

A very pretty Lake Lugano, via Paolo Ardoino’s Twitter

New Market

While El Salvador’s announcement perhaps had more of an impact on a macro scale, given Bitcoin was adopted by an entire country, the Lugano initiative is absolutely fascinating. It represents crypto’s first “official” foray into a first-world market. Furthermore, the inclusion of a stablecoin like Tether in the bill means there is a whole new layer here compared to the Central American country, who went all-in on Bitcoin alone. A large portion of the critics of El Salvador’s move centred on the violent volatility that Bitcoin can be prone to, and the harm that may cause citizens. Obviously with Tether (and LVGA), there is a peg to fiat and therefore the volatility is not an issue.

Naturally, we were very curious about the whole process and had some questions on the initiative. So we managed to interview the man closest to the action – Tether CTO Paolo Ardoino himself.

CoinJournal: Would it be possible (or could you ever forsee) a city or country adopting a stablecoin such as Tether as legal tender alone, or will it always be in conjunction with Bitcoin? 

Paolo Ardoino: There will be more collaboration than competition between Bitcoin and stablecoins. Stablecoins, such as Tether, laid the groundwork for CBDCs.

Privately issued stablecoins will continue to grow and eventually, many governments will realize that stablecoins have distinct advantages over standard banking protocols.

Currently, the entire banking system relies on outdated technologies, so stablecoins have been a way to modernize it in a few quick steps.

I expect that 10 years from now, the technology layer being used by banks will be phased out and replaced with more advanced rails.

CJ: How many (or what percentage) of transactions do you expect will be conducted via crypto in Lugano, rather than Swiss franc?

PA: The City of Lugano aims to become a blockchain center of excellence and a global hub for European blockchain initiatives. We hope to see at least one out of every five transactions conducted via crypto as scaling and implementation occurs.

The current plan is to evaluate the flow of Bitcoin use, evaluate our treasury, and make an informed decision tied to the market as implementation takes place.

CJ: Switzerland’s cost of living is notoriously high. Do you think this will affect Plan B’s ambitions to attract businesses and entrepreneurs to the city?

No. Tether makes a significant contribution to a more connected ecosystem by introducing digital currency benefits, such as instant global transactions, to traditional currency and incorporating traditional currency benefits like price stability to digital currency. As such, Tether’s partnership with Lugano advances its mission to provide the most secure, fastest, and lowest cost way to transact with money, opening the door for businesses and entrepreneurs.

CJ: You mention a large goal of this process is to bring financial freedom to all citizens of Lugano. Do you think a decentralised stablecoin could be better positioned to do this? Or do you think given the fact it is still pegged to fiat, that stablecoins cannot facilitate this and a city needs to also adopt Bitcoin? 

PA: In general, stablecoins are less volatile than other forms of blockchain because they are represented by fixed assets. They are built to withstand the volatility of the current market. As adoption becomes wider and we see more practical use of bitcoin, we estimate that blockchain and crypto will enter a period of stability and normalcy.

CJ: Did Lugano seek assurances on whether Tether was 100% backed, or were they content with what Tether has already released publicly on the matter?

PA: Tether and the city of Lugano sat down and openly discussed the misconceptions about the company. Tether has publicly stated that it has ongoing conversations with regulators and law enforcement and has made valiant efforts in complying with all requests for transparency.

Tether remains a leader in transparency and in getting information to the community and its stakeholders, and demonstrating full backing, and it wants to preserve that position. Tether is not just keeping up with regulation changes and assurances but helping law enforcement and regulators globally shape them.

Tether is committed to being a positive force in this space and its actions speak to that.

CJ: Are you in talks to partner up with other cities/countries, or do you foresee other places following Lugano’s lead? 

PA: As we did with Lugano, we are eager to work with all the municipalities and countries of Europe; we would be honored to realize our vision and the future of finance in other areas.

CJ: At the Plan B conference, you referenced the force for good that crypto can do, in relation to the crypto donations accepted by Ukraine. But do you have concern crypto could also have an opposite effect, in that it could be used to circumvent economic sanctions (such as the sanctions being levelled on Russia)?

PA: In these uncertain times, we have seen an uptick in the utility of bitcoin and other cryptocurrencies. For one, they are being used to raise funds for legitimate civilian organisations that are helping people who are displaced or in danger. That is the beauty of this technology: the borderless and censorship-proof nature of bitcoin allows it to act as a safe haven during turbulent times.

With that being said, Tether is constantly conducting market monitoring to ensure that our operations are not in contravention of international sanctions. This is part of Tether’s rigorous compliance programme.

Tether regularly cooperates with global regulators and law enforcement requests and will comply with sanctions, as applicable, on assets pursuant to relevant law. We vow to continue to explore how Tether, as a platform can put procedures in place to protect all Tether users and the wider community.

 

The post Tether legal tender in Lugano, Switzerland – Interview with Tether CTO Paolo Ardoino appeared first on Coin Journal.