Kategorie: Crypto Markets

• Arbitrum (ARB) price shows signs of further gains as analyst suggests next hurdle is at $2.
• Meanwhile, Solana and Axie Infinity are poised at key support levels after recent spikes.

Away from Bitcoin and Ethereum, three cryptocurrencies trending today are Arbitrum (ARB), Solana (SOL) and Axie Infinity (AXS). Here’s how the altcoins are poised as the broader crypto market eyes a positive start to 2024.

Arbitrum (ARB) price outlook

The price of Arbitrum, a rollup chain for scaling Ethereum, has surged more than 11% in the past 24 hours. ARB stands out as one of the top performing coins in the past week with 35% upside, with this coming as Arbitrum bounced from a brief network outage. It currently trades near $1.54, having tested the $1.66 high on Thursday. According to data from CoinGecko, Arbitrum’s current price level sees it just 8% off its all-time high.

With sentiment positive, ARB/USD could target the $2 mark to strengthen the anticipated bullish move in 2024.

According to crypto analyst Michaël van de Poppe, ARB should may rely on solid support in the $1.40 to $1.45 range.

I’ve posted some updates on $ARB.

Retest at $0.98 did work, continuation towards $1.35 as well and even further.

Some beautiful S/R flips, I think $1.40-1.45 should hold and we can continue to $2. pic.twitter.com/wIFEg26zq8

— Michaël van de Poppe (@CryptoMichNL) December 28, 2023

Solana price risks dip to or below $100

Solana has dumped more than 8% in the past 24 hours to see it trade towards the critical level of $100. Currently, SOL price is at $102, with weekly gains cut to just 17%. Trading volume is down 12% as of writing, while ecosystem tokens such as Bonk are also dumping hard.

While SOL could still rebound to recent highs amid the crypto bull market, there’s potential for a bearish flip below the highlighted psychological level. However, the market remains largely bullish on the altcoin. Crypto trader @ShardiB2 points to the overbought outlook for SOL but notes the declines provide a buy the dip opportunity.

$SOL

Well, got seriously overbought, had a daily reversal candle confirm and now cooling off

I’m in all spot, let it come down, not like it’s going to stay there IMO and we can all scoop up more and do it again

still green dots, green line pic.twitter.com/Jqgx2WdbLe

— Shardi B Trading #teamshardi (@ShardiB2) December 28, 2023

Axie Infinity seeks bullish flip

Axie Infinity (AXS) has not had a terrific year, with its token lagging top altcoin performers over the past twelve months. However, AXS has pumped more than 170% since mid-October, including a significant 40% spike in the past 30 days. 

News related to the Axie Infinity gaming ecosystem, in particular the long awaited Axie Part Evolution. It’s an ecosystem bump that could see Axies’ value rise with a broader impact for the AXS price.

While the token currently trades near $9.13, down 4.6% in the past 24 hours, the upside trajectory could hold if it stays above $9.00. Profit taking in the past two days has injected downside pressure. AXS traded at highs of $11 earlier.

The post Crypto price prediction: Arbitrum, Solana, Axie Infinity appeared first on CoinJournal.

• BNB price has jumped 5% in the past 24 hours and 20% this past week to trade above $310.
• The gains see BNB dethrone Solana in terms of market cap as SOL price dips following recent rally.

BNB is trading more than 5% up in the past 24 hours and 20% in the past week as the Binance coin stages a comeback after a recent slump.  This follows Solana’s remarkable surge and eventual flippening of both XRP and BNB that saw the cryptocurrency reach prices last seen in April of last year.

BNB back above Solana

As Solana slumped amid increased profit taking over the Christmas period, BNB’s market value rose. The native Binance coin is currently trading above $310, prices last witnessed in June. Its market cap at the time of writing is $47.9 billion, overtaking Solana that has slumped to $46.3 billion.

BNB price is seeing a potential bullish run for the first time since slumping amid last month’s bombshell resignation of Binance founder and former CEO Changpeng Zhao. BNB also came under downside pressure after the crypto exchange agreed a $4.3 billion settlement with US authorities.

The events saw BNB price drop from highs above $266 to under $225, continuing its macro downtrend. Data from market platform CoinGecko shows the grind back higher has been less notable compared with some of the outperformers in the past few weeks.

But as Solana cools its upside, BNB bulls are looking to retest the year-to-date levels near $350. As crypto analyst Rekt Capital highlighted on December 26, BNB has “broken its macro downtrend”. It suggests a potential bull rally.

$BNB has broken its Macro Downtrend#Binance #Crypto #BNB pic.twitter.com/PnvqNMK2QW

— Rekt Capital (@rektcapital) December 26, 2023

If the euphoria around the potential approval for a spot Bitcoin ETF nudges altcoins higher, BNB bulls could eye the all-time high above $686.

The BNB price of $311 as of December 27 is about 55% off that peak.

The post BNB surges to above $310, reclaims top 4 spot from Solana appeared first on CoinJournal.

• ShimmerEVM’s integration with LayerZero is expected to enhance cross-chain communication and DeFi on IOTA’s ShimmerEVM.
• Connectivity includes with Ethereum, Polygon, Avalanche, Binance Smart Chain and Optimism among other chains.

IOTA’s ShimmerEVM has integrated with LayerZero to bring cross-chain messaging technology to users, according to an announcement published on December 27.

The integration extends ShimmerEVM’s connectivity to major blockchains, enabling further interoperability via a unified cross-chain ecosystem, Shimmer posted on X. Per details in its blog post, this move means users will now be able to interact and transact across several networks while within the Shimmer ecosystem.

ShimmerEVM’s cross-chain connectivity

Shimmer Shimmer is a blockchain platform within the IOTA ecosystem from where developers can build and deploy decentralised applications (dApps), with access to features currently unavailable on IOTA’s mainnet. ShimmerEVM is the Ethereum Virtual Machine-compatible layer of the platform.

Meanwhile, LayerZero is an omnichain interoperability protocol whose cross-chain messaging technology allows for communication across multiple blockchains.

ShimmerEVM’s leveraging of LayerZero’s messaging infrastructure extends this cross-chain communication capability to the broader Shimmer ecosystem. 

Big news for cross-chain communication & #DeFi advancements for our ecosystem🔥! @LayerZero_Labs is integrating with #ShimmerEVM. The integration extends our connectivity to major blockchains, steering us closer to a unified cross-chain ecosystem.
🔗https://t.co/b2gQabmvFy pic.twitter.com/UgI3vJVHx6

— Shimmer (@shimmernet) December 27, 2023

Following this collaboration, Shimmer is set to see an initial connection to other blockchain networks. These will include Ethereum, Polygon, Binance Smart Chain, Optimism, Avalanche, Arbitrum, Fantom and Base, the platform noted.

Interoperability with these networks means the exchange of assets and information is set to be easier, heralding a new era for DeFi within the ShimmerEVM ecosystem.

LayerZero’s integration with ShimmerEVM comes a few days after its collaboration with Blockdaemon. It also follows recent revelations of a potential LayerZero token launch in 2024. 

The post IOTA’s ShimmerEVM integrates LayerZero for cross-chain communication appeared first on CoinJournal.

• RepubliK is a SocialFi platform for the creator economy in Web3, powered by native token RPK.
• The platform has integrated with Fireblocks, an institutional-graded blockchain infrastructure provider.
• RepubliK will tap into Fireblocks’ technology to bolster its security.

SocialFi platform RepubliK is now integrated with Fireblocks, a digital asset management platform whose infrastructure has been used by BNY Mellon, ANZ Bank and Six Digital Exchange, and ABN Ambro among other firms.

The two platforms announced the integration via a press release shared with CoinJournal on Wednesday. They highlight the partnership as the first for any social media platform.

Eye on Web3 security

Fireblocks provides institutional-grade infrastructure for clients looking to create and deploy blockchain-based products. The platform also provides for secure management and storage of digital assets. 

This partnership with RepubliK will see the SocialFi platform’s users benefit from Fireblocks’ wallet security and multi-chain management features.

“As we venture into this exciting integration with Fireblocks, our focus remains steadfast on revolutionizing the gap between traditional web users and the burgeoning web3 space,” RepubliK CEO Daniel He said.

“We’re committed to building a secure social media experience by integrating top-tier security solutions. This partnership is a bold step towards bridging transparent, and user-centric ecosystem, where creativity and community engagement,” He added.

In particular, RepubliK will tap into Fireblocks’ technology to safeguard its creator and user community’s digital interactions and transactions. The platform believes this should have an overall positive impact on the social media landscape as more people transition from Web2 to Web3.

RepubliK leverages blockchain and smart contracts to allow for a creator economy, with a reward system that targets all users. The native token is RPK and users can collect XP points to earn more RPK. The RPK token can be used for staking, paying transaction fees and other network related activities.

RPK is currently listed on crypto exchanges such as Bybit, KuCoin and HTX.

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