Kategorie: Crypto Analysis

• Loopring and other Ethereum layer-2 solutions are set to explode as Eth 2.0 is now close to becoming fully operational.

• Loopring has an edge for its Zk Rollups that make transactions safe and faster.

• Loopring is currently trading in a bullish channel despite the high volatility.

Ethereum developers have made huge progress towards the launch of Ethereum 2.0. By mid-year, the transition is expected to be complete. It is expected that the impact on Ethereum’s price will be huge because gas fees will drop, and Ethereum will handle a lot more transactions per second than it can today. 

The best part is that Eth2.0 will also open up many opportunities for layer 2 solutions. Layer 2 solutions will take a more central role in completing Ethereum-based transactions to get the load off the Ethereum mainnet. One of the projects set to benefit the most from the shift to Ethereum 2.0 is Loopring.

Loopring (LRC) is a decentralized exchange that can be used to trade ERC tokens without having to go through the Ethereum mainnet. Since Loopring uses Zk Rollups, transactions are fast and take a fraction of the cost that they would, were they to be completed on the Ethereum mainnet.

Loopring has been growing in popularity, and with Eth 2.0 almost complete, a lot more transactions will go through Loopring. Loopring is already showing positive signs, and in the past week, when the entire market was turning bullish, Loopring rallied by over 20%. It’s an indicator that once bulls gain control again, LRC could be a winner. 

Loopring trading in a bullish channel 

Source: TradingView 

Since March 18th, Loopring has been trading in a bullish channel, despite the volatility in the broader crypto market. Currently, Loopring is trending towards the 50-day MA resistance at $0.848. If it breaks through this resistance, $1 could be within reach pretty soon.

Summary

Loopring and other layer-2 solutions are set to grow as Eth 2.0 edges closer to completion. Loopring is already showing signs of an uptrend as it continues trading in a bullish channel despite the volatility.

The post Why Loopring could test $1 soon appeared first on Coin Journal.

Seedify.Fund (SFUND) has remained largely unchanged even as the project announced major new features on its ecosystem. The coin which has acted as an incubator for metaverse and GameFi projects, is hoping to transform its ecosystem in the near future. Here is what you should know:

• The new updates will see greater integrations of NFTs into Seedify.Fund projects.

• The project is also expanding yield farming and staking

• New incentives will roll out to bring more projects on the platform.

Data Source: Tradingview 

Seedify.Fund (SFUND) – price remains largely unchanged

It doesn’t seem like many investors were upbeat about this latest news from Seedify.Fund (SFUND). At the time of writing, the token was trading at $4.30, down by around 2% for the day. But there is no arguing that this is a very interesting project. 

In recent months, talk about GameFi and the metaverse has been gathering steam. The metaverse in particular is seen as a very integral part of the future of crypto. Seedify.Fund (SFUND) is trying to provide a launchpad that will see such metaverse projects come to life. 

Despite this, the coin still remains relatively small, with a market cap of around $105 million. It is likely that the recent news will have no big impact on the price action. Nonetheless, Seedify.Fund (SFUND) will still continue to remain resilient in the near term.

Is Seedify.Fund (SFUND) worth it?

If you are looking for exposure in the metaverse and GameFi tokens, there are probably a lot of options you can go for. However, what makes Seedify.Fund (SFUND) unique is that it acts as an incubator and launchpad for these other coins. 

This puts it at the very center of the metaverse and GameFi revolution. The fact that it remains a small microcap coin also means that it has so much to offer in the long run. It is therefore worth looking at.

The post Seedify.Fund (SFUND) remains largely unchanged despite launching brand new ecosystem features appeared first on Coin Journal.

Aave (AAVE) has been surging over the last two days. The coin in fact looks like it’s about to form a bullish divergence that could push the DeFi protocol towards $200. Much of this growth has been driven by whale accumulation and on-chain news. But how sustainable can it be? Here are some details:

• Aave (AAVE) launched Aave V3, which will enhance capabilities within the ecosystem.

• Data also shows that whales have accumulated nearly $10 million in Aave (Aave) so far.

• At press time, the coin was trading at $151, up around 4% for the last 24 hours.

Data Source: Tradingview

Are we seeing a bullish breakout for Aave (AAVE)?

The launch of Aave (AAVE) V3, which was announced on Wednesday, is a huge step. The new protocol is expected to unlock borrowing and other DeFi products within the Aave ecosystem. It will also help optimize gas fees and facilitate cross-chain transactions in the future. 

This news was expected to have a large impact on the price action. But it’s the accumulation by whales that makes AAVE one of the projects to watch. As of now, whales have added nearly $10 million worth of AAVE into their portfolio.

This suggests that there is a lot of confidence in the coin. It is likely that AAVE will continue to surge in the days ahead and could even challenge $200 in the future.

Why should you consider Aave (AAVE)?

Other than whale accumulation, there are still many other factors that make AAVE a decent buy. For starters, it is a highly innovative DeFi protocol that has constantly upgraded its network over the years. 

With DeFi expected to explode in the coming months, it would make a lot of sense to hold tokens like this. Besides, AAVE still remains relatively undervalued compared to other major chains.

The post Strong whale accumulation pushes Aave (AAVE) over 30% in 2 days appeared first on Coin Journal.

• LUNA is consolidating between the $85 and $95 range right now.

• At the time of writing, the coin was trading at $83.88, down around 6% in 24 hours.

• LUNA must overcome $95 for any run above $100 to materialize.

It’s now the second day in a row that Terra (LUNA) has opened in the red. The coin saw several bullish bursts at the start of March but right now, it seems like it has stagnated. Despite this, LUNA is approaching a crucial overhead resistance zone. Can it break above $100?

Data Source: Tradingview 

Terra (LUNA) – How soon can it hit $100?

For now, it seems like the crypto market is recovering after the brutal volatility of the last few weeks. But the underlying factors that have shifted sentiment towards negative territory are still there. Inflation remains high and geopolitical tensions in Europe could hamper global economic recovery. 

However, there is also a chance that investors may have already priced-in these headwinds in the last three weeks. As for LUNA, the most important thing will be to strike past $95. In recent days, the coin has been within a tight range of between $85 and $95. 

A close above $95 will trigger enough bullish momentum that could take the stablecoin platform above $100. But despite this, momentum indicators, including the RSI are all bearish right now. We may see a drop towards the 50-day SMA of $75 before another surge.

Why is LUNA a good investment?

Terra (LUNA) is a stablecoin platform that has become increasingly integrated into the crypto market. It is also seen as the future of stablecoins and as such, there is massive investment potential here. 

LUNA has been falling sharply in 2022. But it will reverse no doubt. If you have not bought it yet, this is the best time to consider the token.

The post Terra (LUNA) – could surge past crucial overhead resistance – Is $100 coming? appeared first on Coin Journal.

Every crypto investor is always looking for the next big project. We have seen coins go from zero to 100x. Others like SHIB have had even bigger successes in the last year. Ultimately, as an investor, you want coins that will give you a profit over time or ROI. Here is how you pick such coins:

• Always focus on the long-term picture as opposed to the short-term volatility.

• Buy into projects that are backed by notable names and investors.

• Try and also buy as early as possible to ride the wave.

If you are searching for coins that could deliver good ROIs this year, we have three options that you can check out now.

Celo (CELO)

Celo (CELO) has been one of the more resilient coins in the market. It has gone through difficult periods of course as with many other cryptos. But there is no doubt the good days are ahead. 

Data Source: Tradingview 

What makes this coin so special is the fact that it is way undervalued. The underlying fundamentals are also impeccable. For the long-term investor, CELO has so much value to unlock. At press time, the token was trading at $3.3, gaining over 22% for the day. The coin also has a market cap of $1.2 billion.

NEM (XEM)

NEM (XEM) simply stands for the new economy movement. The project is hoping to provide innovative blockchain solutions to help owners leverage the power of decentralized technology. The project has a market cap of around $884 million, and there is a lot it can still offer.

SXP (SXP)

The SXP (SXP) project hopes to create a bridge between the normal fiat currencies and the blockchain. It has made a lot of investments in its ecosystem as well, and there is a star-studded investor list. The coin is at $669 million in terms of the market cap so more could still come.

The post These 3 coins could offer the best ROI this year – Check them out now appeared first on Coin Journal.