Crypto News Archive - Seite 1372 von 1899 - Finanzmittel Info + Krypto + Geld + Gold

10. November 2022

Cryptocurrencies are soiling, but Polygon’s MATIC could defy bears – a technical outlook

Crypto buyers are disillusioned after what looked like a gradual recovery went haywire this week. This time, a renowned crypto exchange FTX went south in a liquidity crunch. Although this scenario is not new, the fact that it touches an exchange that was touted as sound remains a concern. Investors have reacted by liquidating positions, which has resulted in a bloody market week. But Polygon (MATIC/USD) could be one of those still displaying resilience.

While most tokens have lost by double digits in a week, MATIC is down just a single percentage point. It is not a coincidence, as MATIC has been performing well lately, driven by strong fundamentals. The latest ones include collaboration with Meta Platforms and JPMorgan. Polygon is also readying for a tour across India as part of its global growth. The tour will see the company meet the next-gen developers and creators. Seven Guild events will be covered, and 50 college campuses.

Investors searching for a relief token to buy in the bear market should pay attention to MATIC. The technical outlook also shows why MATIC could remain resilient.

MATIC initiates recovery at a support zone

Source – TradingView

Following the FTX-inspired crash, MATIC retreated to test the long-term support zone at $0.77. The level was a breakout zone, meaning any possible recovery could start here.

The token initiated a recovery and tested the resistance at $1.0. The price has retreated slightly. The RSI shows a reading of 49, slightly below the midpoint, although the indicator signals a recovery.

Should you buy MATIC now?

Polygon’s token is showing resilience as other cryptocurrencies proceed lower. The strength underlines MATIC as a good buy cryptocurrency.

Nonetheless, with the bear market still on, we need further confirmation before buying MATIC. Bullish price action signals around $0.77 or a break above $1 could welcome buyers.

If the bear market continues to grip MATIC, breaking below $0.77, the next support will be $0.58. We should watch the prevailing sentiment and price action to find an appropriate buying time for MATIC.

Where to buy MATIC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MATIC with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MATIC with Skilling today

The post Cryptocurrencies are soiling, but Polygon’s MATIC could defy bears – a technical outlook appeared first on CoinJournal.

10. November 2022

More pain for Solana SOL after a 50% drop. Here is what is happening

A seven-day loss of more than 50% sees Solana (SOL/USD) trading at half the value the previous week. The loss is the biggest among the cryptocurrencies in the top 100 categories, except for the embattled FTX exchange. SOL now trades at the lowest level since March 2021. Despite the magnitude, the cryptocurrency could fall further from various insights.

It is correct to assert that the decline in SOL reflects the liquidity concerns of the collapsed FTX exchange. The fears have caused widespread losses in the market, although SOL buyers have been hit hard. Data by Solana Compass shows that bear pressure on SOL could increase owing to the tokens that could enter circulation.

Solana Compass says an unprecedented number of SOL tokens are likely to be unstaked. Accordingly, 60,399,401 tokens of estimated $755 million value were shown as “deactivating.” As these tokens get unstaked, the total supply of SOL tokens in the market will rise by 8.8%, forcing further bear pressure.

Concerns about SOL’s increased supply come when Solana’s Epoch 370 ends. “Epoch” refers to the period when staking rewards are earned and then issued. During the period, validators lock their tokens and unlock them when it ends. The unlocking has been responsible for the huge price crash. Technical pointers also indicate a further bearish momentum after bulls lost a key level.

SOL crashes after losing the $28 support

Source – TradingView

On the weekly chart, SOL is oversold (RSI reading of 31) and is on a free fall. The key level at $28 was breached, welcoming a further bear market for the token.

Should you buy the SOL dip?

SOL is currently without breaks after crashing below $28. The only price direction at the moment is down. The token is not a recommended buy.

The likely support of SOL lies at $12, a potential decline of $25%. The established long-term support is at $3. With the bear market remaining in place, we cannot rule out SOL trading at a single-digit price.

Where to buy SOL

eToro

Buy SOL with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SOL with Capital.com today

The post More pain for Solana SOL after a 50% drop. Here is what is happening appeared first on CoinJournal.

10. November 2022

Mask Network price defies gravity. Is it safe to buy?

Mask Network price defied gravity on Thursday even as other cryptocurrencies recoiled. The token was trading at $3, which was about 35% above the lowest level this week. This rebound has brought its total market cap to more than $86 million.

What is Mask Network?

Data has become an important part of the internet today. It has become one of the biggest resources in the world that powers companies like TikTok and Google.

Mask Network is a blockchain platform that seeks to change how people handle their data. It is an encryption platform that works through its browser applications.

Users just need to download and install the app and then run it. For example, with the Mask Network installed, one can easily send encrypted Twitter messages. Other things that can one can do are to save files, verify NFT avatars, and shop privately.

MASK crypto price recovered as investors reacted to its exposure to Alameda and FTX crisis. In a statement, the developers accepted that Alameda Research had invested in the company. The firm invested $50,000 in its Series A round. As such, Alameda holds less than 500 million worth of the MASK token.

In addition, the developers said that FTX was not a market maker for the coin. It made the announcement in a bid to assure investors that it had no significant exposure to the failed company.

In the past few days, many coins that Alameda held have all crashed hard as investors expect that the company will liquidate them. They include coins like Near Protocol, Solana, and FTX Token. Therefore, this clarification is likely the main reason why Mask is doing well.

Mask Network price forecast

The four-hour chart shows that the MASK price has been in a strong bearish trend during the ongoing crash of FTX and its ecosystem. It is now trading at $3, which is above this week’s low of $2.20. The current price is important since it was its highest point on October 30th.

Mask Network has also fallen below the 25-day and 50-day moving averages while the Stochastic Oscillator has moved close to the neutral point. Therefore, there is a likelihood that the coin will resume the bearish trend amid the rising contagion risk. If this happens, the next key support level to watch will be at $2.15.

How to buy Mask Network

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy MASK with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy MASK with KuCoin today

The post Mask Network price defies gravity. Is it safe to buy? appeared first on CoinJournal.

10. November 2022

FTX insolvent – what next for crypto?

I published an analysis three weeks ago outlining that I feared Bitcoin was one bad news event from a plunge down towards $15,000.

And hell, did we get that event.

Now I didn’t quite predict this. My piece made no reference to anything to do with FTX. Not only that, but I have waxed lyrical in the past about Bankman-Fried’s acumen. I misread his character massively, and I was very wrong.

In an examination of FTX’s solvency published on Monday morning, I still believed it was highly unlikely that FTX were insolvent.

I have also gone on record many a time repeating the same old adage: playing with Bitcoin in the short-term is akin to spinning a roulette wheel.

But as we hung around $20,000, and headed into a winter awash with ominous variables like an energy crisis, high inflation, a nasty geopolitical climate and political upheaval in the US, UK and in many nations across Europe, risk was extremely high.

And then an extraneous variable – FTX imploding. And in the words of the wonderful Black Eyed Peas, “it’s going down now and not a tad bit later”.

Is it time to buy the dip?

I don’t like this question for two reasons.

The first is that, being a random boy on the Internet, how am I meant to know? Like I said a few sentences ago, betting short-term on Bitcoin is like spinning a roulette wheel. My opinion on whether I fancy red or black would be just as valid as to what I think about Bitcoin’s short-term action will be.

The second reason is that this question is almost a muscle-memory reaction to crypto prices falling. Born out of the culture in the space, I suppose. Central to it is people pointing to past cycles and referencing how Bitcoin has always returned. But they fail to realise something.

Bitcoin was launched in January 2009, into one of the longest and most explosive bull runs in history. As of this year, that is no longer the case. The free money has been turned off – then Federal Reserve raising interest rates at historically fast rates, with inflation at levels not seen since the 70’s.

This is the first time that Bitcoin has ever experienced a wider economy bear market. And for that reason, all bets are off. And it is now trading at levels lower than it was five years ago in December 2017.

There is no such thing as buying dips and laughing your way to the bank. A glance at the above chart will show quite how many dips there have been this year. This thing is hard. Trading is hard. Crypto is a volatile game. For every screenshot of 100X gains you see on Twitter, there are 100 more people who lost it all.

Don’t take eyes off wider economy

FTX imploding is wild. And it’s incredibly bearish for the crypto economy at large. Expect some contagion to ripple out of this, as we don’t know yet who was exposed to who – but FTX, as such a large player in the industry, will no doubt drag a few bodies down with them.

But don’t take your eyes off the bigger trend. Crypto is following the stock market. Blue chip assets like Bitcoin and Ethereum are the tail on the dog, with the dog being the stock market. And that stock market is oscillating back and forth over inflation readings and the Federal Reserve’s approach to interest rates.

I wrote last month about how this correlation between stocks and Bitcoin is as high as it has ever been. It picked up markedly in April 2022, right as we transitioned to this high-interest rate environment.

In the short-term, this FTX episode needs to play out. Contagion will ripple, news will break, surprises will come out. And then after that, it’s back to watching the stock market. If it wasn’t clear already – the crypto markets are merciless. Don’t forget that, and stay safe.

The post FTX insolvent – what next for crypto? appeared first on CoinJournal.

10. November 2022

Top 3 centralized exchange tokens to avoid after FTX crash

The collapse of FTX has been the most important cryptocurrency news this week. Its challenges came a few months after other centralized exchanges (CEX) like Voyager Digital, Celsius, and BlockFi. Therefore, there are concerns about the safety of centralized exchanges and their tokens. Here are some of the top CEX tokens to avoid.

Kucoin Token (KCS)

KuCoin is one of the biggest crypto exchanges in the world. In May, the company raised $150 million at a valuation of over $10 billion from the likes of Jump Crypto, Circle Ventures, and IDG Capital. It has over 27 million customers. In addition to its exchange, the company is exploring becoming a major player in other industries like the metaverse and gaming.

In a statement this week, KuCoin’s CEO reiterated that the exchange was completely safe and that it was in a position to handle any outflows. He talked about a major hack that happened in the exchange in 2021, which it managed to cover internally.

He also added that the company will release its Merkle tree proof-of-reserves in one month’s time. KuCoin Token price has crashed by more than 6% in the past 24 hours and over 19.54% in the past 7 days.

How to buy KuCoin Token

Skilling

Buy KCS with Skilling today

OKX (OKB)

OKX is a Seychelles-headquartered company that serves more than 20 million users in over 100 countries. It provides services like spot, margin, futures, options, perpetual swaps, DeFi, and OTC trading among others.

OKB is the ecosystem’s native token. Like FTX’s FTT, the coin’s holders get trading fee discount that saves them up to 40% discounts. It is also used for passive income. Also, users can use it in places like Coinrule, Cobo, and Bitpie. OKB has a total supply limit of 300 million coins and burns many of them every three months.

How to buy OKB

Huobi Token (HT)

Huobi Global is one of the biggest Chinese exchanges in the world. The company was started by Leon Li, a leading entrepreneur in the country. Huobi experienced substantial growth a few years ago. This happened as cryptocurrencies became more popular in China.

Recently, however, the company experienced slow growth after China banned digital coins. It also experienced substantial competition from the likes of Binance and Coinbase. Last month, Leon exited his stake and sold it to About Capital, a firm associated with Justin Sun. While Huobi is doing well now, there are concerns about most offshore exchanges.

How to buy Huobi Token

Skilling

Buy HT with Skilling today

KuCoin

Buy HT with KuCoin today

The post Top 3 centralized exchange tokens to avoid after FTX crash appeared first on CoinJournal.