Kategorie: Crypto Analysis

When Solana (SOL) was launched, it was seen as the most serious alternative for Ethereum. Ever since the blockchain has seen massive growth and continues to attract a host of top projects as well. But why is Solana highly rated by developers around the world? Here are the main reasons:

• The chain offers high scalability for DAPPs.

• The overall gas fees are way lower compared to other blockchains.

• Solana also runs various incentives designed to bring in as many developers as possible.

For investors looking for promising projects built on the Solana blockchain, we have a list of three here below that you can check out:

Serum (SRM)

Serum (SRM) is the main DEX for the Solana network. It is designed to reflect all the attributes of the blockchain, including better speeds, security, and low fees. Serum is however more than just an exchange. 

Data Source: Tradingview 

It’s an integrated DeFi protocol as well that allows it to offer additional services like staking and others. So far, the Serum DEX has a market cap of around $453 million. There is more room for Serum to surge in the long term.

Star Atlas (ATLAS)

Play-to-earn is seen as one of the most promising subsectors of the blockchain industry. We have seen these games go on to report massive gains in 2021, and this trend is likely to continue. 

Solana has also attracted its fair share of Play-to-earn, and Star Atlas (ATLAS) is one of the most notable ones. The game is developed by the Unreal engine and is set in an immersive virtual universe.

Raydium (RAY)

Raydium (RAY) is a liquidity provider that works using an automated market maker protocol. The goal for Raydium is to provide liquidity for the Serum DEX, but there are plans to expand it further. RAY is currently on a market cap of $350 million.

The post The best crypto projects on Solana that have immense potential appeared first on Coin Journal.

Waves (WAVES) has hit record highs in a recent bullish run that appears to be stronger than ever. The coin has smashed past several key indicators and looks like bulls still have a lot of room to run. So, what should you expect next? More on this to follow but first, here are some notable developments:

• Waves had rallied nearly 50% in 24 hours though it retreated slightly.

• The 24-hour surge is part of a weekly uptrend that we saw last week.

• The coin has now smashed past its all-time highs.

Data Source: Tradingview 

Waves (WAVES) – What comes next?

The rally today came on major news from the platform. Waves will now begin operations in the US and is setting aside a lot of money to bring in developers to the ecosystem. But this is not the only thing. Over the last 2 weeks, the coin has been rising and rising. 

It has gone past several resistance zones and unleashed a bullish momentum that has taken it well above its ATH. Although it is likely Waves will pull back, we do not see this happening in the coming days. 

In fact, waves is likely to test $60 in the days ahead before any sell-off even comes into the picture. The coin has for now paired all losses reported this year and is looking forward to Q2 with a vengeance.

Should you buy Waves (WAVES) now?

There is no doubt WAVES is on the run. Every indicator is bullish right now, so it’s the best time to buy for any short-term trader. Q2 also promises to be a very big period for this token. 

$60 is well in sight in the near term and as such, this gives investors a very good opportunity to make decent returns as they take advantage of this bullish sentiment.

The post Waves (WAVES) hits record high – What do indicators say appeared first on Coin Journal.

Zilliqa (ZIL) has shot up massively in the last few days. The coin gained nearly 100% in one single day, and while most investors were expecting an immediate pullback, bulls just kept the coin going and going. It seems there are no sellers for ZIL, and it is likely this will remain the case for a while. Here are some pointers:

• The recent two-week rally by ZIL has been astonishing, to say the least.

• At one point, the coin was up 225% in just seven days before retreating slightly.

• We do not see any sell-off pressure, and ZIL could add another 100% in the near term.

Data Source: Tradingview 

Zilliqa (ZIL) – Bulls are fully in charge

In most cases, when coins rally to the extent that ZIL has, it’s natural to expect that there will be a pullback. But don’t bet on ZIL to do this in fact, bulls are in full control right now. We expect the gains to extend further to around $0.15 before there is any loss of momentum. 

ZIL is currently trading at around $0.09. Although it has lost about 5% for the last 24 hours as some holders cash in, we expect the bullish momentum to resume. The $0.11 mark will be the most difficult for bulls to break through. 

While we expect the current ZIL momentum to rise above that, if bulls are not able to break the resistance, ZIL will fall. But this will not be a huge pullback. In fact, it will be a modest pullback to $0.08 which will still put ZIL at an all-time high in 2022.

How to play the Zilliqa (ZIL) uptrend

Well, the best play here will be to buy. As for the short-term traders, close when the price hits $0.15. For long-term investors, the risk of a major sell-off after $0.15 will increase. It would be best to see if the coin hits that mark and then track the pullback before you buy.

The post Zilliqa (ZIL) could accelerate gains by nearly 100% before any major sell-off appeared first on Coin Journal.

The Huobi Token (HT) reported modest gains in 24-hour intraday trading on Tuesday. This came despite reports that the exchange was planning to launch a brand-new crypto ETF in Hong Kong. The coin remained largely unchanged for most of the day. Here is what to know:

The new Crypto ETF is expected to track some of the major crypto assets

It will largely target retail investors around the world

Huobi is now seeking approval from Hong Kong authorities to get this done.

Data Source: Tradingview 

Will the new ETF have any effect on Huobi Token (HT)?

Based on how investors have so far reacted to this news, it doesn’t seem like there will be a lot of price action as a result. But this is not a small thing by any means. For so many years, ETFs have provided an easy way for retail investors who have limited knowledge of the market to invest money with minimal risk. 

If something like that can be introduced in crypto, it could bring in more retail accounts to Huobi in the long run. Besides, it will also be a nice way for Huobi to bypass restrictive laws in Hong Kong that only allow crypto assets to be sold to professional investors. The potential of this opening up the huge Chinese market for crypto traders is massive.

Is Huobi (HT) worth it?

Huobi is one of the largest crypto exchanges in Asia. The platform has however had to deal with so many restrictions over there. But we are seeing more creative ways to bypass these laws. 

If indeed the ETF will be approved, it would open up more potential for the exchange. This would then mean more fees and more revenue. Based on these details, Huobi would be a good catch for longer-term value investors.

The post Huobi Token (HT) sees modest gains after it announced plans to launch a new crypto ETF in Hong Kong appeared first on Coin Journal.

After a very bad start to 2022, crypto coins have started to really show some outstanding rallies. In the last week of March, most coins have closed well in the green, and the momentum could go on further. Here is why coins are rallying:

• A period of uncertainty with regards to Fed rate hikes has now gone.

• Many investors who were sizing up the market are starting to come back.

• Institutions are looking at crypto as a diversified asset pool to hedge against equities.

In the midst of this rally, there are some coins that have done way better than we expected. Here are some of them:

Ethereum Classic (ETC)

As the shift from the Ethereum Proof of work model continues to near, we did see some remarkable shift among Ethereum miners towards ETC. In fact, at one point the coin rallied by nearly 70% in a week. 

Data Source: Tradingview 

As of now, ETC appears to have erased the losses made this year and the uptrend is still strong. Although there was always some positive outlook around the coin, many analysts did not expect it to recover as fast as it did. We expect more gains to follow in Q2 this year.

Convex Finance (CVX)

DeFi has always been a huge part of the future growth of crypto. 2021 was the breakthrough year of DeFi, and there was a lot of optimism that we were going to see more and more success in 2022. But DeFi coins failed to impress, and Convex Finance (CVX) saw massive falls from ATHs as a result. But the DeFi space is rebounding, and CVX is up 50% for the week.

Zilliqa (ZIL)

Imagine a 150% surge in less than a week? ZIL appeared to be down and out a few weeks ago, and it was struggling to find any momentum. Although there was some hope it will finally recover, the fact that it has done so in a week or so simply boggles the mind.

The post Tracking the crypto rally: 3 coins that have surprised us appeared first on Coin Journal.