Kategorie: Crypto Analysis

Cardano (ADA) has seen a lot of volatility in recent weeks. After hitting new lows during the January crypto slump, the coin has recovered a bit but lags behind some of the major coins in terms of gains. But is there any upside for growth? After all, the coin has traded in the red in the last two trading sessions. Here are some highlights:

• At press time, Cardano had shown some signs of reversing the downward trend.

• The coin is trading at $1 down about 4% in the last 24 hours.

• Cardano has seen strong support at the $1 over the last few weeks.

Data Source: Tradingview

Cardano (ADA) – what to expect in the coming days

Geo-political tensions in Eastern Europe have been playing a key role in influencing investor sentiment in crypto over the last few weeks. In fact, it is estimated that over $160 billion in crypto value has been lost due to this threat of war. For this reason, expect a lot of volatility around Cardano (ADA) in the days ahead. 

However, the key to watch here is the $1 support. Despite massive selling pressure, ADA bulls have held this support very well. If indeed the coin is able to keep the price action above $1, then a surge towards $1.5 is possible. But if we dip below $1, then there will be a significant additional weakness to come.

Is Cardano (ADA) a good buy today?

Cardano (ADA) has always been a good buy in the long term. But price volatility in recent weeks has made it a bit harder for investors to truly predict the direction of this asset. 

The truth is ADA is one of those few coins in the market that should be in your portfolio. It has a proven track record of delivering value, superb fundamentals, and a lot of credibility in the crypto space.

The post Cardano (ADA) climbs after losses in two straight sessions – Is there enough growth upside appeared first on Coin Journal.

Patience is a rare commoodity in the cryptocurrency space. It was only two weeks ago that Bitcoin rallied 15%+ to make the jump from $37,000 to near $42,000, but traders and retail investors soon became angsty at the rangebound motion of the world’s biggest cryptocurrency in the fortnight since.

“Do something!” was the prevailing sentiment across the Internet, as multiple rejections have occurred at the $43,000 resistance level over the last two weeks. But be careful what you wish for, as the yesterday’s latest pullback puts Bitcoin in position to go the other way, potentially testing the $38,000 support level.

Trading View (via Binance)

Ukrainian tension

Of course, markets are largely in wait-and-see mode as the political climate is delicately poised across the globe. More specifically, Putin is playing the world’s most dangerous game of chicken at the Ukrainian border, with markets accordingly keeping a keen eye on developments in Eastern Europe. Crypto isn’t the only stakeholder, with the S&P 500 closing down over 2% yesterday as the doomsday scenario seemingly became significantly more likely. Bitcoin plummeted from near $44,000 to where it currently sits, just north of $40,000.

Rate Hikes

As if a potential World War III is not ghastly enough, the most feared two words in any investor’s lexicon have been getting a lot of airtime recently: rate hikes. Following January’s blowout inflation numbers, the highest since 1982, the market is now pricing in seven hikes in 2022. In other words, it’s last call at the bar and the lights are on – the party, hosted so graciously over the last couple of years by the Fed, looks like it’s about to end.

Ranging

One of the prime narratives pushing crypto’s surge has been that of the inflation hedge angle; a way to escape debasing fiat currency resulting from the aggressive money printing. With the Fed now indicating this hawkish turn, the inflation push factor is coming undone. Combining this bearish development with the politics in Europe, the notoriously volatile Bitcoin is a nervous place to be. 

Warren Buffet famously said “be fearful when others are greedy and be greedy when others are fearful”. Well, people are certainly fearful at the moment, and with Bitcoin one more red candle away from testing $38,000 resistance, it’s making an interesting close to the week. That $43,000 resistance looks a hell of a long way off right now.

We all know, however, that one comment from Putin, either one way or the other, could render all this moot. Against that backdrop, it’s not surprising to see Bitcoin range between that $38,000 – $43,000 space… for now.

The post Bitcoin stares down $38K support level amid macro headwinds appeared first on Coin Journal.

Ukraine has been in the news a lot recently. Well, it has cropped up again, although not in the way you may expect.

Today, the government officially passed a law legalising Bitcoin and other cryptocurrencies. The bill was originally passed last September, although Ukrainian President Volodymyr Zelanskyy had sent it back to parliament for changes. Today, four months later, it has been formally signed into law.

What it Means

“The development of a new industry will allow attracting transparent investments and will strengthen the image of our country as a high-tech state,” Mykhailo Fedorov, Ukraine’s vice prime minister of digital transformation, had commented on the bill in September.

It is a positive step that strives to protect digital asset owners, exchanges and other stakeholders in the industry. Particularly notable is the inclusion of the terms digital wallet, private key and virtual assets in Ukrainian legislation for the first time. While there will always be groups who protest the introduction of regulation into crypto, overall it is a promising development for the industry and should encourage more transparency and confidence for those operating in Ukraine, as well as reducing fraud. The hope is that covert mining operations, evasive tax schemes and other “shadow” crypto activities should now decrease, while innovation will spike and foreign investment will flow into the country.

Political Turmoil

Unfortunately, there is an elephant in the room here. Even diehard crypto fans are unlikely to be queuing up to book one-way tickets to Ukraine, given the ongoing issues with a certain Mr. Putin. The reality is that you can list all the Ukrainian crypto positives you want – such as low taxes, streamlined legal framework, improvement in technical infrastructure and an abundance of engineers – but as long as there are 150,000 Russian troops stationed at the border, Ukraine’s hope to become the digital asset hub of Eastern Europe isn’t likely to be achieved anytime soon.

However, political concerns aside, it sees Ukraine steam towards the front of the European countries legal framework on crypto. While South America has been particularly welcoming in their approach to crypto legalization, Europe to date has not been as warm. The EU has begun to place a tighter leash on crypto transfers, striving to make them more traceable. While individual states have legalized it – perhaps most notable was the passing of a law in Germany last year allowing German Spezialfonds to allocate up to 20% of their assets to crypto – Ukraine still had high hopes to lead the virtual charge on the continent, back when the bill was originally put forward.

Of course, the final interesting quirk in this story is the stark contrast compared to Russia. Putin has been notoriously anti-crypto, pushing for an outright ban on the industry and instead focusing efforts on the development of a central bank digital currency.

It’s one more thing for them to disagree with Ukraine on.

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We have seen talk and hype around the metaverse over the last few months. But there is no doubt the metaverse is happening. Cardania is a new metaverse project that is opening public sales for its token today, February 15th. Here is what you should know:

• Cardinia is offering its native token RAD which will be the main utility token for the Cardinia metaverse.

• Cardinia is hoping to create what it calls an integrated metaverse economy with a rewarding user experience.

• The public token sale will be solely done on Kick.io and hopes to achieve success like other metaverse tokens, including Decentraland (MANA).

Data Source: Tradingview

Cardinia (RAD) – The fundamentals so far

Before you buy any token, the first thing you do is assess the underlying fundamentals. Cardinia brings a combination of tokenised assets and NFTs to run what it calls an integrated metaverse economy. 

There are other metaverses that promise this. However, since this is an industry that appears to be heating up right now, it’s very hard to ignore RAD. Details about the public sale have also been released. 

All purchases must be made using Cardano (ADA). KYC will be required before any purchase goes through too. There is also a priority sale program for investors who want to get in 24 hours before the coin is opened to the general public.

Is Cardinia (RAD) worth your time?

There is no arguing that new blockchain projects are often interesting. The metaverse in particular, has been offering new innovations as far as new cryptos go. 

While Cardinia (RAD) is not the only new and exciting metaverse project right now, it still has so much to offer. The integrated metaverse ecosystem and the way it combines both NFTs and regular tokens into the mix is a great plus. It is one of those coins that you should check out.

The post Cardania, a new metaverse gaming token that opens public sales today – Is it a good buy? appeared first on Coin Journal.

There has been a lot of talk about web 3.0. It’s hard to differentiate between the hype and the facts, but one thing is for certain. Web 3.0 is happening. So, how do you position yourself to benefit from this new age of the internet? Here are some ideas:

• Web 3.0 is the next evolution of the internet that promises to become more interconnected than ever before.

• We are also going to see a huge push for crypto in a Web 3.0 world, so it helps to know the coins to buy.

• This 3.0 evolution has been happening over the years and is poised to become more evident in the future.

There are certain tokens that right look poised to benefit from the Web 3.0 revolution. Here are our top picks:

Kusama (KSM)

Often described as the rogue cousin of Polkadot, Kusama (KSM) is a highly scalable blockchain designed to provide never seen before interoperability for developers. The project is actually built on what is called a substrate. 

Data Source: Tradingview

This is basically a blockchain building kit that allows for the creation of highly scalable solutions. As the debate on web 3.0 builds, interoperability will be a key factor. Kusama (KSM) is offering that, and with a market cap of around $1 billion, it is a very decent buy.

Siacoin (SC)

Part of building the ultimate Web 3.0 will involve the creation of a fully decentralised internet. While there are some projects doing a pretty good job of this, Siacoin (SC) has to be part of your calculus. 

The good thing about this project is the fact that it’s super versatile and will easily adapt into a 3.0 world in excellent fashion. Siacoin (SC), at the time of writing, had a market cap of around $517 million. It is easy to see how this coin could grow 10x or 50x in the coming years.

The post The best web 3.0 crypto tokens to watch out for in 2022 appeared first on Coin Journal.