Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Market highlights January 26: Cryptos stage comeback, oil and commodity stocks take UK100 higher

The crypto market was in the green over the past 24 hours, as the majority of top 10 cryptos were higher at time of writing. The UK100 rose 1.09% yesterday as oil and commodity stocks boosted the index, rebounding from a rout the day before that saw it wipe out all its gains for 2022. 

US markets fell again yesterday as investors held their breath ahead of a Fed policy decision to be announced today. 

Top cryptos

Bitcoin registered gains of approximately 4%, trading above $37,000 this morning. Ethereum and Cardano were up around 3% each, while XRP climbed around 4%. Dogecoin jumped around 8%. It continues to rally after a supportive Musk tweet yesterday, after which it gained another 8%.  

Outside the top 10, Polygon registered gains of around 12%, making it the biggest winner in the top 20 coins by market cap today.

Another big gainer is CRO, the native token of Crypto.com crypto exchange. Its price today is $0.406 with a 24-hour trading volume of $168.45 million. Crypto.com Coin is up 9% in the last 24 hours. 

Top movers

The vast majority of top 100 coins were in the green at the time of writing. Notable standouts were NEAR and Stacks (+10%), Klaytn, Elrond, BAT, and BORA (+11%), Enjin and Secret (+12%), and Helium (+15%).   

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Its token Flow gained 13% today.  

Gala suffered massive losses since November 28, 2021, but it’s trending again, having surged about 20% today. As the increase is not propelled by any major news, analysts expect that the price has nowhere to go but up now. Gala was the most profitable metaverse token in 2021.

An equally impressive rally is that of the Amp token, which gained 21% today on news of considerations on the part of Grayscale Bitcoin Trust to add it to their portfolio.  

The biggest gainer in the top 100 is definitely Waves, the token of a multi-purpose blockchain platform which supports various use cases, including decentralized applications (DApps) and smart contracts. Waves is up 37% in the last 24 h, reversing recent losses spectacularly.  

Trending

NinjaFloki continues its bull run. The gaming-based, passive income generating cryptocurrency is up 533% today.  

The post Market highlights January 26: Cryptos stage comeback, oil and commodity stocks take UK100 higher appeared first on Coin Journal.

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You can buy Polygon today, the biggest top 20 winner: here’s where

The live Polygon price today is $1.61 with a 24-hour trading volume of $1.55 billion. It is easily the biggest winner in the top 20 coins by market cap today, having added 11% to its value in the last 24 hours.

Look no farther than this quick guide for all the details around Polygon, whether it makes a good investment, and the best places to buy Polygon today.  

Top places to buy Polygon now

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What is Polygon?

Polygon (formerly Matic Network) is a Layer 2 scaling solution that seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

It combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework enables easy execution of scalable and autonomous smart contracts.

Polygon is building new features around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

It boasts of up to 65,000 transactions per second on a single side chain along with block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

Should I buy Polygon today?

Polygon can be a lucrative investment, but we recommend doing market research before you commit. It can reverse its gains just as easily.  

Polygon price prediction

According to Coin Price Forecast, Polygon will trade for $3.65 at the end of this year, which corresponds to gains of +42% in value. They expect to see $2.25 per 1 MATIC in the middle of 2022.

In the first half of 2023, MATIC will reach $3.79. In the second half, they predict another increase. It will trade for $4.19 at the end of the year, which is +166% to the current price.

Polygon on social media

The post You can buy Polygon today, the biggest top 20 winner: here’s where appeared first on Coin Journal.

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Dogecoin still gaining on Musk tweet, up 7% in 24 h: here’s where to buy Dogecoin

Elon Musk seems intent on giving Dogecoin permanent staying power. The ur-meme coin continues to gain after he tweeted he would eat a happy meal on TV if Macdonald’s started to accept Dogecoin as payment.

If you are attracted to unique features and want to learn how and where to buy Dogecoin, this guide is for you.

Top places to buy Dogecoin now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Plus500

Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)

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What is Dogecoin?

Dogecoin (DOGE) is based on the popular „doge“ Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013.

Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme.

Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. You can get tipped Dogecoin by participating in a community that uses the digital currency.

Should I buy Dogecoin today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.

Dogecoin price prediction

2021 was a great year for DOGE by all accounts. It was trading for $0.0057 at the beginning of the year, reached $0.034 in February, and then went up to $0.74 in early May. However, the coin had lost a large portion of its value about a month later.

Some analysts expect DOGE to hit an ATH of $1 in 2022. Others are less bullish. It can go up to a maximum of $0.40 according to Wallet Investor.

Dogecoin on social media

The post Dogecoin still gaining on Musk tweet, up 7% in 24 h: here’s where to buy Dogecoin appeared first on Coin Journal.

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MicroStrategy will keep buying and holding Bitcoin, says the firm’s CFO

  • MicroStrategy CEO Michael Saylor also noted the same thing during an earlier interview.

  • The company’s shares have plunged alongside the rout in crypto and stocks, currently trading -35% year-to-date.  

MicroStrategy will buy more Bitcoin and does not plan to sell any from its current haul, according to the US-based software intelligence company’s Chief Financial Officer.

This is the company’s plan for investing in cryptocurrency, and will continue to be the case despite the current market outlook, Phong Le told the Wall Street Journal.

Bitcoin price reached highs of $69,000 in November but corrected sharply this month to plummet to lows of $33,000 on Monday.

Although the flagship digital asset has recovered 8% on the day to currently around $36,750, the sell-off pressure remains even as US Federal Reserve looks to hike interest rates and geopolitical tensions in Russia/Ukraine mount.

The negative sentiment cropping from these factors continues to weigh on investors in the stock market, with a cascade effect likely to be felt in the crypto market.

Despite the bearish outlook for the broader crypto market, MicroStrategy isn’t swaying from its strategy, the CFO added.

“To the extent we have excess cash flows or we find other ways to raise money, we continue to put it into Bitcoin,” Le told the WSJ.

MicroStrategy holds close to 125, 000 bitcoins, bought at an average price of $30,159.

Apart from adding to its BTC haul, the company is also eyeing new investments in the Bitcoin-backed bond market. Le said that the publicly traded company will venture into this market probably by 2023, although that would depend on liquidity in the market.

The diversification is part of the firm’s constant hunt for other investment opportunities that would contribute to the shareholder gains in Bitcoin.

Le’s comments come days after MicroStrategy CEO Michael Saylor said in an interview that the company wasn’t prepared to sell any of its Bitcoin. They also come after the company’s stock fell sharply on Monday.

The decline had pushed the stock’s overall losses since Friday to 30%, aligning it with the bloodbath witnessed in crypto and tech stocks. The shares are 35% down year-to-date, with a similar outlook for other crypto-centric companies.

The recent declines came as it was revealed that the US Securities and Exchange Commission (SEC) had rejected MicroStrategy’s non-GAAP accounting measures. This relates to the company’s decision to adjust for BTC impairment losses, which they said would clearly reflect on the software firm’s finances.

After the SEC’s disapproval, the firm noted it would make necessary revisions in future earnings reports, which should probably reflect in its Q4 earnings results on 1 February.

The post MicroStrategy will keep buying and holding Bitcoin, says the firm’s CFO appeared first on Coin Journal.

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Here is why Cosmos (ATOM) Price is rallying

The Cosmos native crypto (ATOM) has surged by more than 17% in the last 24 hours; a time when all the major cryptocurrencies like Ethereum and Bitcoin have nosedived although they are now turning green as they try to correct.

Cosmos is currently at $36.08 with a trading volume of $3.9 billion and is up. If it continues with the current bullish trend, it might set a new all-time high within the first quarter of 2022.

What is Cosmos (ATOM)?

Cosmos is simply a project that solves the problems facing the blockchain industry to make blockchain technology less difficult and complex for decentralized apps developers.

ATOM is the native token of the Cosmos blockchain network.

Why the ATOM price is rallying

The current ATOM rally is highly attributed to the recent announcement by the market cap on Twitter saying that it will share IBC integrated tokens on the Cosmos network. Currently, Terra has already dominated this market with 49.6%.

ATOM is expected to shoot to the moon after the Terra market domination. However, when ATOM hit an all-time of $44.8 on 20th September, it started a phase that ended at $20.18 in December and since then it has continued to rise.

With the failed January 7 and 17 breakout attempts, the bulls started an inverted head and shoulder breakout on January 1st and the altcoin hit a five-week high of 79.61% ROI from its 29th December low.

The bears maintained their 43.6% Fibonacci support as the bulls continued to defend the 23.6% support level which they later lost by 38.2% in the recent sell-off, during the sell-off ATOM lost 35.6% of its worth, although they recaptured 38.2% from the growing selling effect.

There was a bearish bias after RSI formed the downward channel due to the resistance near the midline which led the MACD’s histogram to discover a closing equilibrium that favored the sellers.

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