Kategorie: Crypto Markets

• Fetchai price was down 3% on Thursday morning after a double digit move the previous day.
• While prices are likely to break lower, analysts say AI remains a strong narrative and that could help FET price.
• 96% of FET holders are in profit after the Fetch.ai price spiked more than 70% in February.

Fetch.ai has dipped to support levels at $0.45 early Thursday, with the price of the native FET mirroring the broader crypto market in trending lower.

Indeed, while Fetch.ai price printed a double-digit green candle on Monday, the Artificial Intelligence (AI) related token’s value is currently testing support near $0.45 with about 5% in losses on the day.

But the AI narrative remains a strong trend and is likely to see FET regain momentum and record fresh gains as those witnessed in the past few weeks. Data shows the FET/USD pair remains 70% up over the past 30 days.

Fetcha.ai price: What analysts say about FET amid the AI narrative

AI related tokens have in recent weeks outperformed in the market, particularly after global tech giants Microsoft and Google poured resources into the sector on the back of massive hype around OpenAI’s Chat GPT.

As shown in the chart above, FET posted a breakout from a triangle pattern on the daily chart. Bulls nonetheless ran into a hurdle just above $0.48. While there’s likelihood of a distribution move, another analyst, Altcoin Sherpa, also thinks an uptrend is the more likely trajectory.

$FET: Doesn’t really look too much like distribution to me. Maybe this is going to leg up if $BTC plays nice… pic.twitter.com/TGo3fyMiTi

— Altcoin Sherpa (@AltcoinSherpa) March 1, 2023

Fetch.ai whale activity, 96% FET holders in profit

Data also shows more than 96% of FET holders are in profit after recent gains as more people looked to buy FET. While having so many addresses in profit could play a part in potential profit taking deals, the in/out the money metric by IntoTheBlock also suggests nearly 99% are long term holders. 

Only 1% of FET is held by hands that bought the token in the past 1-12 months. 

In fact, on-chain analytics platform Santiment has also shared data showing whale activity for Fetch.ai has recently spiked.

🐳 #Cardano, #Maker, and #Fetch have all had their moments to shine in 2023. $FET in particular, which has 5x’d since January 1st. But these 3 assets in particular have all seen steep increases in whale activity, and you can expect major swings from here. https://t.co/aLMD7PMdZ1 pic.twitter.com/LTjrHdfTWy

— Santiment (@santimentfeed) March 2, 2023

On the downside, if sentiment across the wider market turns negative, bears can target the immediate demand zone around $0.38 and even go for $0.29.

The post Fetch.ai price prediction: FET still attractive amid AI narrative appeared first on CoinJournal.

• NotCommon is a one-stop shop for both artists and collectors to trade and exhibit work.
• The platform also aims at protecting users and combat the uptick in cybercrime.
• In 2022 alone, hackers stole $175M in digital assets.

Coinjournal can exclusively report that Web3 security platform NotCommon is now live after a $1.5 million funding. The platform offers a one-stop shop for both collectors and artists to trade and exhibit work.

The platform aims at taking the fight against blockchain fraud by protecting users from the rampant cybercrimes within the Web3 space.

Helping users keep their collections safe

Hackers and scammers have minted millions of dollars from the Web3 industry. They find loopholes and steal personal collections putting in question the security status of a majority of Web3 platforms. While a good number of the victims are newcomers new to smart contracts, seasoned NFT collectors have also fallen victim to phishing attacks.

Web3 suffers from a lack of the same safety nets witnessed by centralized services making it difficult for victims of theft to recover their stolen digital assets.

Commenting on the rampant security issues facing the Web3 industry, NotCommon Co-Founder and CEO Michael R. Pierce said:

“2022 was a tough year for the reputation of Web3 in general, but there is still palpable interest users and investors. However, there is a need to make the space safer, and that’s where we aim to be a driving force for security. For the benefits of Web3 to be realized, there is a huge educational component needed to onboard new Web3 users, if we are going to encourage further adoption.”

To address this problem and help NFT collectors and artists keep their collections safe, the NotCommon platform “prioritizes education and security, giving NFT collectors the tools they need to protect and manage their identity in Web3.”

Curated blacklist of web3 fraudsters

NotCommon aims to eliminate security issues within the Web3 space and usher in a new era of digital creativity by concentrating on security, safety and identity protection. To that end, NotCommon has launched a “curated moderated blacklist of fraudsters, allowing users to crosscheck people and entities against a database of known bad actors.”

The curated moderated blacklist of fraudsters includes a database of the various types of scams that have occurred within Web3 further adding to its deep resource for education about current scams and a live-updated compendium of known social engineering tricks.

NotCommon users will receive customized security alerts based on the collections they are holding in their crypto wallets. NotCommon’s Chrome extension also allows users to flag phishing accounts and keep a continuously updated log of scammers and fake accounts.

The post Exclusive: Web3 security platform NotCommon goes live backed by $1.5M funding appeared first on CoinJournal.

• Klaytn is a public blockchain platform developed by South Korean internet giant Kakao Corp.
• The blockchain plans on establishing KLAY as a deflationary asset.
• It also wants to provide more tools for developers who want to launch products on the network.

The latest technology and developer roadmap released by Klaytn developers earlier this week emphasized that the Klaytn blockchain intends to increase the demand and value for KLAY tokens.

Klaytn also recently passed a governance proposal to burn about 50% of KLAY’s supply. The move aims at making KLAY more valuable going by the demand and supply principle.

🗳 KGP-6 Vote Result: PASS ✅️

26 out of 31 GC members voted YES 👍

Upcoming initiatives to coincide with the Kore hardfork in early Q2:
1️⃣ 5.281B $KLAY initial burn 🔥
2️⃣ KGF & KIR to become ➡️ Community Fund (KCF) & Foundation Fund (KFF)

Read more: https://t.co/p6NZ3Atttl

— Klaytn (@klaytn_official) February 28, 2023

Klaytn 2023 roadmap

The recently released Klaytn roadmap states that Klaytn would find crypto infrastructure services, like decentralized oracles, where the KLAY token can be used, to increase the token’s transactional utility. This would also result in more gas burns.

Klaytn also plans on launching a permissionless pilot network on its Cypress mainnet in the second half of 2023. The pilot network will test the automation of the entry and exit of validators or entities on any blockchain that is responsible for verifying transactions.

The blockchain also intends to initiate several governance initiatives including establishing community governance council selection and sacking processes. Klaytn intends to transfer its decision-making authority to the community allowing KLAY token holders to have a say on who sits on the governance council, which is a group of network participants that oversee the governance of the Klaytn Network.

While the price of the KLAY token is currently in the red, Klaytn expects the value of the token to considerably rise once it starts implementing the milestones in the roadmap. 

The post Klaytn Blockchain to focus on demand and value of KLAY token in 2023: roadmap appeared first on CoinJournal.

• Stockton discussed correlation of BTC and Nasdaq 100 on CNBC.
• She says bitcoin has to break above $25,000 to look attractive.
• Bitcoin is currently up about 40% YTD; Nasdaq 100 about 11%.

So far, bitcoin has meaningfully outperformed the Nasdaq 100 this year – up roughly 40% at writing versus a significantly narrower 11% gain in the tech-heavy index.

Katie Stockton’s remarks on CNBC

Interestingly, BTC remained resilient in the back half of the current month even after the U.S. Bureau of Labour Statistics said inflation was up more than expected in January.

Nonetheless, Fairlead Strategies’ Katie Stockton says bitcoin and the Nasdaq 100 index will likely be more correlated again moving forward.

We suspect that with equities now declining again, we’ll get back into that higher correlation mode between bitcoin and Nasdaq 100 and other risk assets.

A day earlier, CoinShares data confirmed that short-bitcoin funds secured inflows of $10 million last week.

Bitcoin needs to break above a key resistance

According to Stockton, bitcoin is still trading below a strong resistance around the $25,000 level and has to break above it to look attractive. On CNBC’s “Squawk Box”, she said:

It needs to clear that level in order to look better and because that would resolve a trading range to the upside and tell us that range is more likely a reversal pattern versus a continuation pattern.

Stockton is keeping neutral both on yields and the U.S. dollar for the next several months, she also confirmed.

BTC last week was briefly seen trading just above the said price – a move that analysts at Bitfinex said could indicate a possible bottom.

The post Pro expects BTC and Nasdaq 100 to be more correlated moving forward appeared first on CoinJournal.