Kategorie: Ethereum News

Cryptocurrency trading is a common activity these days. Indeed, it is estimated that cryptocurrencies worth over $100 billion is traded every day. The figure is much higher in the derivative and futures market. In this article, we will look at the best cryptocurrencies to day trade in 2022. The criteria will be coins that have reasonable volume and those that are offered by most brokers. 

Cardano (ADA)

Cardano is a blockchain project that was started by Charles Hoskinson in 2015. Hoskinson was a co-founder of Ethereum, the second-biggest cryptocurrency in the world. His goal was to create a blockchain project that is fast, reliable, and cost-effective than Ethereum. 

Cardano implemented smart contract features in 2021 and has since then seen its ecosystem grow. Today, there are several applications built using Cardano’s technology including SundaeSwap and MinSwap. In total, they have a total value locked (TVL) of over $300 million. Cardano is a good cryptocurrency to day trade because of its low price and volatility.

Read more on how to buy Cardano.

Shiba Inu (SHIB)

Shiba Inu is a leading cryptocurrency that was started in 2021. At the time, it was started to become an alternative to Dogecoin, which was growing in popularity back then. Today, the Shiba Inu price has risen from where it was listed, pushing its market cap to more than $13 billion. 

The ecosystem has also grown as the developers have launched ShibaSwap, an ecosystem with over $130 million in total value locked (TVL). They have also launched an NFT marketplace and a metaverse platform. Shiba Inu is a good crypto to trade because of its low notional value and the fact that it has some volatility.

Read more on how to buy Shiba Inu.

Ripple (XRP)

Ripple is one of the oldest and most popular cryptocurrencies in the world. It was developed by Ripple Labs, a fintech company that helps companies move money around. It is an important part in the so-called On-Demand Liquidity (ODL) network. 

Ripple is a popular cryptocurrency to both investors and traders. For one, a single XRP token trades at $0.64, making it a highly attractive cryptocurrency. There are also many headlines about Ripple such as that of the ongoing case between Ripple and the Securities and Exchange Commission (SEC). 

Also, Ripple is always making deals with companies and there is a likelihood that it will soon go public. All this makes XRP a very attractive coin to day trade.

Read more on how to buy Ripple.

ApeCoin (APE)

ApeCoin is a relatively new cryptocurrency that was launched in 2022. Shortly after launch, the coin’s price surged and its market cap rose to over $6 billion. It is now the 25th biggest cryptocurrency in the world with a market cap of over $6.15 billion. 

ApeCoin was launched by Yuga Labs, the founder of Bored Ape Yacht Club, one of the biggest names in the NFT industry. The coin’s goal is to help facilitate payments in the network. It is also part of the platform’s ecosystem growth. For example, they have already announced plans for a metaverse that will be powered by APE. ApeCoin is a highly liquid cryptocurrency that works well for traders.

Learn more about how to buy ApeCoin.

Chainlink (LINK)

Chainlink is a blockchain project that many people don’t know about but it is one that most people have used indirectly. It is not well-known because it does not have a consumer-facing product. Instead, it is used by most DeFi builders to bring off-chain data to the blockchain. 

Therefore, whenever you are using products like AAVE, Abracadabra, Anchor, and Uniswap, you are using Chainlink. It is the biggest oracle network with a total value secured (TVS) of over $55 billion. Chainlink is a good crypto to trade because of its volatility and the fact that it is provided by most exchanges.

Read more about how to buy Chainlink.

Stellar Lumens (XLM)

Stellar is a blockchain project that helps companies in the money transfer industry. It is governed by Stellar Foundation, which is headed by one of the Ripple Labs founders. Its core platform enables people to create digital representations of money. By so doing, they can move it at a faster pace. Stellar is well-known for its partnership with Circle. 

The partnership helped Circle to build USD Coin, the second-biggest stablecoin in the world. Stellar has also partnered with other companies like MoneyGram and Flutterwave. 

Learn how to buy Stellar Lumens.

Dogecoin (DOGE)

Dogecoin is the biggest meme coin in the world with a market cap of over $18 billion. The coin, which was started in 2014, has become extremely popular among investors because of its close association with Elon Musk. On-chain data shows that DOGE is owned widely by thousands of people from around the world. It is also offered by most exchanges like Coinbase and Binance. The fact that a single DOGE sells for $0.13 and that it is highly volatile makes it a good crypto to trade.

Read more about how to buy Dogecoin.

Litecoin (LTC)

Litecoin is one of the most popular cryptocurrencies in the world. It is a proof-of-work cryptocurrency that was created using the same concepts as Bitcoin. The coin is often seen as a better version of BTC because of its low transaction costs and the fact that it is fast. Litecoin is popular among day traders who are afraid about the significantly high cost of Bitcoin. It is also highly volatile and provided by most brokers.

Learn how to buy Litecoin.

Ethereum (ETH)

Ethereum is often viewed as the most important blockchain project in the world. Some analysts believe that it is actually more useful than Bitcoin. This is mostly because of its smart contract features that make it possible for people to build decentralized apps. For example, it has been used to build apps like Uniswap, Curve, and even Decentraland. ETH is a good crypto to trade in 2022 because of the upcoming transition from proof-of-work to proof-of-stake. 

Learn more about Ethereum here.

Bitcoin Cash (BCH)

Bitcoin Cash is a cryptocurrency that emerged from a hard fork of Bitcoin. Today, the coin has a market cap of over $5.7 billion. Like Litecoin, BCH is often seen as a better alternative to Bitcoin. It is also a bit faster and its network is not as congested. It is also highly volatile since it tends to track the movement of Bitcoin. Bitcoin Cash is a great coin to trade in 2022.

The post 10 Best Cryptocurrencies to Day Trade in 2022 appeared first on Coin Journal.

Here’s a top analyst’s Ethereum price outlook after ETH dropped below $3,000

Ethereum has declined below $2,900 after bulls gave up the $3,000 support level over the weekend. The drawdown in the price of Ether (ETH) comes as the top cryptocurrency Bitcoin (BTC) also faces massive sell-off pressure after dropping below $40,000.

Currently, Ethereum is trading near $$2,860 with 24-hour losses of about 2.8%. Bitcoin, on the other hand, has slipped to lows of $38,800 and is roughly 2% in the red.

Ethereum likely to retest $2,600

While he maintains a bullish outlook for top two cryptocurrencies by market cap, top crypto trader and analyst Rekt Capital sees a potential dip to lows of $2,600 for Ethereum.

“ETH has flipped ~$3050 into new resistance on the weekly timeframe,” the analyst said pointing to a chart showing Ethereum price has dropped over the past four weeks.

“As a result, ETH now has a greater chance of performing a long downside wick to even as low as $2600 on the monthly timeframe,” he noted.

Chart showing ETH/USD has dropped below a critical support level. Source: Rekt Capital

Although the prominent crypto analyst suggests that Ethereum could yet flip lower, he thinks bulls may yet see $3,000.

Highlighting Ethereum’s monthly chart, Rekt Capital says:

“ETH volatile retest of ~$3000 (black) may very well be in progress. Downside wick could go down to as low as the green Higher Low ($2600). A wick into the HL before ultimately performing a Monthly Candle Close above ~$3000 (black) would be bullish.”

Here is a chart showing the analyst’s take on what could happen next for ETH/USD.

Ethereum traded at highs above $3,500 earlier this month. Data from CoinGecko shows that at current prices, the ETH/USD pair is down nearly 11% in the past two weeks and 8% in the past 30 days.

The post ETH price: Top analyst’s Ethereum price outlook for this week appeared first on Coin Journal.

The Ronin Network exploit happened in March and saw $600 million worth of Ethereum (ETH) and $25 million in USDC stolen.

The US Treasury’s Office of Foreign Asset Control (OFAC) has sanctioned three more Ethereum wallets linked to the recent hack on Ronin Network.

The new addresses have been connected to the North Korea hacking group Lazarus, OFAC said on Friday.

The OFAC revealed the addition of the three virtual currency addresses via an update to its Specially Designated Nationals (SDN) List published on 22 April. All three have ties to the activities of the North Korean state-sponsored hacker group Lazarus Group.

Notably, recent funds movement linked to the three wallets involves proceeds of the exploit on the Ronin blockchain.

“The DPRK has relied on illicit activities like cybercrime to generate revenue while trying to evade US and UN sanctions,” US Treasury tweeted.

The agency has warned that transacting with the designated wallet addresses “risks exposure to US sanctions.”

OFAC listed wallet addresses ‘blocked’

The addition of the three wallets comes just days after the department linked Lazarus Group to the $625 million heist. 

On Friday, the original address used in the attack moved funds to various addresses using Tornado Cash – a mixing service that helps make transactions difficult to trace. The decentralised protocol, which helps make Ethereum transactions private, announced on 15 April that it would block any crypto wallets added to OFAC’s list.

Tornado Cash has reiterated that financial privacy remains “essential to preserving” financial freedom. However, privacy should not be pursued at the “cost of non-compliance,” it added.

In related developments, Binance reportedly recovered $5.8 million worth of funds stolen during the hack. According to Binance CEO Changpeng Zhao, the hackers had sent the funds to 86 accounts.

The post US Treasury links three more Ethereum wallets to the $625M Ronin hack appeared first on Coin Journal.

Ethereum (ETH) has started to consolidate after trading mostly sideways for the whole of the week. The coin however has a lot of potentials, and we may see a decisive break in the coming days. Here are some of the facts:

• ETH is struggling to maintain the price action above $3000.

• Ethereum however sits above a strong support zone.

• The coin will break out and could target $3800 in the near term.

Data Source: Tradingview 

Ethereum’s road to $3800

Despite increased selling pressure at the beginning of trading this week, ETH has managed to stay above the crucial $3000 mark. The coin is however consolidating, and after a period of sideways trading, it could break out in the near term. 

The key for bulls would be to smash past the $3125 resistance zone. When this happens, ETH is likely to maintain an upward trajectory that pushes it to $3800. But if the $3000 mark is lost, the coin will likely drop further towards $2700 before it tries to rise again. 

Momentum indicators are neutral for now but RSI is pushing more towards a bullish scenario. We expect RSI to become bullish in the days ahead as well. Despite this prediction, it is important to note that upward momentum for ETH is capped at $4000. Even though the coin could still test the $4000 price in the weeks ahead, we still expect a firm rejection.

How to trade ETH in this setup?

As noted above, the key to the watch would be $3000 and $3800. If ETH is able to keep the price above $3000 at the close of trading today, you can buy and wait for the bullish breakout. 

But if $3000 is breached, investors should wait until ETH bottoms at $2700 or thereabout before they buy. As for $3800, this is the cap on our prediction. We expect ETH to fall once again after testing $3800, so be sure to exit your position by then.

The post Ethereum could bounce back to $3800 even as it struggles to hold above $3000 appeared first on Coin Journal.

Bitcoin and Ether are down by more than 40% from the all-time highs they attained six months ago.

Celsius Network CEO Alex Mashinsky is confident Bitcoin and Ether, the two largest cryptocurrencies by market cap, will reach new all-time highs before the end of the year.

Bitcoin reached an all-time high of $69,044 in November 2021, while Ether’s all-time high of $4,878 was also achieved in the same month.

However, since then, BTC and ETH have lost more than 40% of their values. Bitcoin is trading around the $41k level, while Ether currently stands above $3,000 per coin.

Mashinksy, while speaking at the Paris Blockchain Week Summit, said Bitcoin and Ether would go on to set new all-time highs this year. He said Bitcoin received very strong support at around $30,000 to $33,000. Mashinsky said;

“It’s going to take us longer to hit new highs. But I still expect us to break that $60,000 this year on Bitcoin, break the $4,500 on Ethereum.”

The Celsius CEO also talked about the effect of the ongoing Ukraine war on the financial markets. According to Mashinsky, the public markets, including cryptocurrencies, would continue to be negatively affected if Russia continues its attacks on Ukraine.

Ethereum co-founder Vitalik Buterin recently commented that the cryptocurrency space needs semi-decentralised solutions. Mashinsky commented on this, stating that the crypto space doesn’t have to be completely decentralised. He said;

“He’s basically saying, look, we don’t have to be 100% DeFi. CeFi and DeFi are two sides of the same coin. And you sometimes you need to CeFi, sometimes you need to use DeFi, and that’s what Celsius does every day.”

The Celsius CEO finally shared his philosophy on Bitcoin investment. Mashinsky said;

“If you buy Bitcoin and can’t sleep, it means you have too much Bitcoin. However, if you buy Bitcoin and sleep like a baby, then it means you don’t have enough Bitcoin. Find that sweet, sweet spot and just stick with it.”

The post Bitcoin and Ether will set new all-time highs in 2022, says Celsius CEO appeared first on Coin Journal.