Kategorie: Crypto Analysis

The initial climb by Uniswap (UNI) earlier in February appears to be evaporating. It’s been day after day of losses for the DEX, and there are signs that the bleeding will continue in the coming days. But how far can bears take the price action? Here are some highlights:

• Uniswap (UNI) could crash to $5 before it finds its next leg up
• The coin was trading at around $8.74, down by nearly 7% in 24 hours at press time.
• The price action is within a crucial demand zone but so far bulls are staying off.

Data Source: Tradingview 

Uniswap (UNI) – why a crash to $5 is likely?

As noted above, UNI has entered a crucial demand zone. Looking back at the chart, every time the token has entered the range of between $ $7.31 and $9, bulls have come in and bought in huge numbers. We are not seeing that right now.

In fact, even though at present UNI is trading at around $8.74, the bearish trend appears to be holding steady. We are watching to see if there will be any bullish activity in the coming days.

If indeed, UNI is able to generate demand and push back above $10, it could suggest more gains. But with sentiment in the market largely fearful, we don’t expect this to happen. Instead, UNI could slip below its demand zone and eventually settle at $5 in the coming days.

Is Uniswap (UNI) still a good investment?

The dip in crypto prices is a sign that perhaps this may not be as much of a smooth year as 2021. But even then, the long-term outlook on Uniswap (UNI) still remains very positive.

In fact, if indeed the coin drops to $5, get it. Even if you don’t end up holding for long, there is a chance the downward trend will reverse, and UNI will be back to double figures in no time.

The post Uniswap (UNI) could crash to $5 in the coming days – Here is why appeared first on Coin Journal.

In 2021, NFTs or non-fungible tokens simply exploded. We saw unprecedented NFT sales, and there is no doubt this is a subsector of the crypto market that is worth noting. Here are some of the reasons why:

• NFTs can be great stores of wealth when the market is slumping.
• Many exciting new projects in NFTs keep coming out regularly.
• There is hope that NFTs will also boom with the rise of the metaverse.

Well, if you ever wanted to invest in the future of NFTs, there are a few new and exciting projects you can consider. Here is the full list.

FTX Token (FTT)

FTX Token (FTT) is one of the leading crypto exchanges in the world. It is geared for the daily trader thanks to its wide range of derivative products. However, over the last few hours, FTX announced a new initiative that will see increased investment in gaming and NFTs.

Data Source: Tradingview 

In fact, the platform is looking to make NFTs widely adopted across the world not just as a store of value but also as a unique asset class within crypto.

Crypto.com (CRO)

Crypto.com (CRO) is not what you would call a new NFT based project. It is in fact one of the oldest exchanges in the world. But just like FTX, Crypto.com has also been making incredible moves in the NFT space.

The launch of a dedicated NFT marketplace as part of the CRO ecosystem is one of these moves. We expect the crypto.com NFT platform to grow and deliver immense value in the near and long term.

Chiliz (CHZ)

Chiliz (CHZ) is one of the leading sports entertainment blockchains behind the many fan tokens we have seen with football clubs in Europe. The platform is also spending a lot of resources on building a broad NFT platform for sports memorabilia and other items. It is worth watching in the coming months.

The post These are the best NFT crypto projects to watch out for in February appeared first on Coin Journal.

DeFi projects are becoming central in the growth of the blockchain space over the last few years. There are also brand new DeFi projects that are coming out each day, each offering a promise of great financial autonomy from traditional finance. Here is why DeFi is heating up:

• There is massive investor confidence around DeFi right now.

• Billions of dollars are already locked in leading DeFi projects.

• DeFi projects provide a lot of utility hence a lot of value for investors

If you have been thinking about getting some exposure to DeFi, we have some exciting projects here below that you can get into if you want.

Compound (COMP)

Compound (COMP) is a decentralised finance protocol that provides access to a series of staking opportunities for crypto holders. The purpose of this protocol is to make it easier for users to borrow and lend crypto assets on a peer-to-peer basis. 

Data Source: Tradingview 

The Compound protocol and its native token COMP are all based on the Ethereum network. This is one of the hottest DeFi projects on the chain, and at the time of writing, COMP was trading at $108 with a market cap of around $709 million.

Liquity (LQTY)

Liquity (LQTY) strives to offer interest-free borrowing on the Ethereum blockchain as well. As of now, the platform has seen immense growth with nearly $1.2 billion in total value locked or TVL. The token also appears to have significant upside potential. At press time, it had a market cap of around $35 million. Also, its native token LQTY was trading at $2.15.

Cream Finance (CREAM)

Cream Finance (CREAM) is also a micro-cap DeFi project that offers massive growth potential. It has a market cap of around $22 million, and its native token CREAM is right now selling for around $33.88. Cream Finance is basically a decentralised DeFi lending protocol that allows users to lend and borrow crypto at ease.

The post DeFi Watchlist: Top rated upcoming DeFi projects worth your consideration appeared first on Coin Journal.

It is safe to say that Basic Attention Token (BAT) has been nose-diving for the best part of three months now. In fact, the general trend on this coin which is associated with the Brave Browser has been downwards. Sadly, the signs show that this bearish move will remain for longer. Here are some highlights:

• BAT is trading 60% lower from its all-time highs in November.
• The coin was trading at $0.71 at press time, virtually the same compared to a day ago.
• BAT also remains lower from its 50- and 200-day moving averages.

Data Source: Tradingview 

Basic Attention Token (BAT) – Why the bearish trend will remain?

There are both technical and fundamental factors that make BAT bearish at the moment. Starting with the fundamentals, it is clear that overall sentiment in the crypto market has slowed.

After a surge at the start of the month, most investors are holding back their capital as they watch events in Eastern Europe and tightening monetary policy in the United States. As for technical factors, the price action for BAT has generally moved downwards.

In fact, after hitting all-time highs in November 2021, the coin has lost nearly 60% of the market cap. It is also trading way lower compared to both its 200- and 50-day simple moving average. Also, a look at the Relative Strength Index suggests that BAT is yet to reach the “Oversold” threshold. As such, more weakness could still come.

Can investors buy Basic Attention Token (BAT) now?

The answer is yes. In general, the dip offers probably the most decent chance to enter into BAT. However, since it is projected that the token could in fact fall even further, you can still be patient. Watch for $0.5 in the coming days. That should be a good entry point for the long- and short-term investments.

The post Basic Attention Token (BAT) price prediction & why it continues to decline appeared first on Coin Journal.

The general mood in the crypto market had started to change at the start of February. But increased geopolitical factors appear to be weighing down on sentiment right now. Despite this, the medium-term outlook for Internet Computer (ICP) is still bullish, and you will see why below. First, some highlights.

• ICP is currently trading at around $18, up less than %1 in 24 hours.

• Medium-term estimates suggest that the coin could hit $100.

• However, there is a lot of systemic risks in the market right now.

Data Source: Tradingview

Internet Computer (ICP)

It is worth noting that Internet Computer (ICP) is a fairly new project, having launched in May 2021. But there was actually a lot of hype around it. In fact, ICP got immediate Coinbase and Binance listings. At one point during that craze, it traded for nearly $400.

But of course, hype eventually dies out, and as you would expect, ICP has crashed massively. It was trading at around $18.90 at press time. So, where does ICP actually go from here? 

Well, the $100 mark is not as far-fetched as it sounds. After all, it was not long ago that ICP hit highs of $87 in 2021. Also, the $18 mark appears to be the lowest we have seen with ICP. There is a chance that once sentiment in the market improves, we will see a surge in the price action.

Who should buy Internet Computer (ICP)?

Internet Computer is a highly scalable general-purpose blockchain that hopes to be the go-to ecosystem for Web3 apps. It’s not even a year old and has the potential of blowing into another Ethereum. 

So, if you are keen on buying smart contract alternatives to ETH, then you will find ICP quite decent. Besides, the fundamentals and the long-term outlook of this project are just incredible.

The post Internet Computer (ICP) medium-term outlook – is $100 by 2025 even possible? appeared first on Coin Journal.