Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Solana (SOL) is targeting $100 in the days ahead – Here is how this will happen

Despite various bearish predictions over the last three weeks, Solana (SOL) has remained quite resilient. The coin has lost and regained important support zones and now it seems like it is finally ready to rise again. But how feasible is the $100 mark? More details to follow but these are the facts you need to keep in mind:

  • Solana is looking to test overhead resistance of $90.

  • A close above that price will push the altcoin higher than $100 in the near term.

  • At press time, Solana was trading at $85, down around 4% in 24-hour trading.

Data Source: Tradingview 

Solana (SOL) – how fast can it hit $100?

Solana (SOL) has shown some impressive resilience. Although the analysis in recent weeks was very bearish, SOL bulls have come out strong. As a result, the altcoin has regained several key support zones in the last week or so. 

The biggest challenge now will be to find enough momentum to push through $90. If bulls do this, then the coin will surge above $100 in the near term. At the time of writing, SOL was trading at $85.

Despite this, in previous sessions, the zone between $90 and $95 has proved to be a crucial supply area. Every time SOL has managed to hit this threshold, it has repeatedly pulled back. But this time around, it is likely that bulls will convert $90 – $95 into a short-term demand zone to support the rally above $100.

What is the long term outlook of Solana (SOL)

Recent headwinds in the crypto market have made a lot of coins weaker. Solana in particular has fallen from its 2021 highs of nearly $200. 

But this does not change the long-term outlook of this altcoin. SOL is still destined for great success and is one of the “blue chip” crypto tokens you can buy.

The post Solana (SOL) is targeting $100 in the days ahead – Here is how this will happen appeared first on Coin Journal.

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BAYC’s Apecoin (APE) surges by over 80% just a few days after launching

Apecoin (APE) appears to be the next big crypto in town, at least based on the performance over the last few days. The token, which is linked to the Bored Ape Yacht Club NFT project, has been surging today, and it doesn’t seem like it’s about to stop. Here are some of the details:

  • At press time, Apecoin (APE) was up nearly 80% in 24-hour intraday trading

  • The coin just launched a few days ago on FTX

  • It is the native token for the Bored Ape Yacht Clube NFT project.

Data Source: Tradingview 

Apecoin (APE) – where does it go next?

Apecoin (APE) was listed on the FTX exchange for the first time. As with many initial launches, there was a lot of volatility. In fact, at one point APE was trading as high as $40, only to crash to $6.3. But that early volatility has started to ease off. 

APE is consolidating its demand and at press time, it had surged by over 85%, trading at around $14.3. The Apecoin is one of the major NFT coins released this year. It is linked to the Bored Ape Yacht Club or BAYC, an NFT collection that has seen sales hit millions of dollars. 

The 85% surge today is likely to pull back as early investors cash in. We expect APE to finally stabilize between $10 and $12 by the start of the week.

Is Apecoin (APE) worth buying?

NFTs are no doubt capturing the imagination of a lot of investors. After they reported a lot of growth last year, it is likely that in 2022 and even beyond, NFTs will become a huge part of the crypto industry. 

In that case, projects that give you more exposure to NFTs are always highly recommended. The Apecoin (APE) is a perfect example of such a project. The fact that it’s also new also makes it a good option.

The post BAYC’s Apecoin (APE) surges by over 80% just a few days after launching appeared first on Coin Journal.

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Terra (LUNA) – could surge past crucial overhead resistance – Is $100 coming?

  • LUNA is consolidating between the $85 and $95 range right now.

  • At the time of writing, the coin was trading at $83.88, down around 6% in 24 hours.

  • LUNA must overcome $95 for any run above $100 to materialize.

It’s now the second day in a row that Terra (LUNA) has opened in the red. The coin saw several bullish bursts at the start of March but right now, it seems like it has stagnated. Despite this, LUNA is approaching a crucial overhead resistance zone. Can it break above $100?

Data Source: Tradingview 

Terra (LUNA) – How soon can it hit $100?

For now, it seems like the crypto market is recovering after the brutal volatility of the last few weeks. But the underlying factors that have shifted sentiment towards negative territory are still there. Inflation remains high and geopolitical tensions in Europe could hamper global economic recovery. 

However, there is also a chance that investors may have already priced-in these headwinds in the last three weeks. As for LUNA, the most important thing will be to strike past $95. In recent days, the coin has been within a tight range of between $85 and $95. 

A close above $95 will trigger enough bullish momentum that could take the stablecoin platform above $100. But despite this, momentum indicators, including the RSI are all bearish right now. We may see a drop towards the 50-day SMA of $75 before another surge.

Why is LUNA a good investment?

Terra (LUNA) is a stablecoin platform that has become increasingly integrated into the crypto market. It is also seen as the future of stablecoins and as such, there is massive investment potential here. 

LUNA has been falling sharply in 2022. But it will reverse no doubt. If you have not bought it yet, this is the best time to consider the token.

The post Terra (LUNA) – could surge past crucial overhead resistance – Is $100 coming? appeared first on Coin Journal.

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Could this on-chain metric catapult Ethereum’s price?

As another week comes to a close in this eventful macroeconomic climate, let’s take a look at how the world of cryptocurrency looks, before we all take a breath over the weekend.

Key Points

  • Bitcoin net outflows from exchanges breach $1 billion for the week
  • Tuesday sees highest daily outflows in ETH since October
  • Moderate uptick in new and active addresses for Bitcoin

Bitcoin

Net Flows

Data via IntoTheBlock

A nice milestone for Bitcoin this week, as net outflows from exchanges breached the billion dollar mark, as displayed on above graph. One of the go-to indicators of sentiment, a net outflow from exchanges typically means accumulation, while a net inflow signals selling pressure.

Volatility

Price-wise, we “closed” last Friday at $39,200, while currently we sit at $40,700. Looking at volatility, the 30-day annualised standard deviation remained relatively stable at circa 63%. This is shown on the below graph, but if we want to translate these numbers to simple English, we can simply say that this week Bitcoin was … chill. As the world seems to be falling down around it, Bitcoin has been actually been quite well behaved. Who would have thought?

Data via IntoTheBlock

Addresses

Some moderate uptick here too, with an 11% increase in new addresses since last week. Active addresses were relatively stable (up 3%) and there was a fall of 2% in zero-balance addresses. All pointing, again, to a steady but unspectacular week for Bitcoin. If only all the weeks were like this – this must be what it feels like to hold stocks, right? Maybe next week we will get some more movement, helping to make this piece a little more entertaining! 

Data via IntoTheBlock

Ethereum

Let’s see if we can poke around with Ethereum a little and uncover any trends.

Net Flows

There was nice net volume here too, with close to a billion dollars flowing out of exchanges over the last week. This was buoyed mainly by Wednesday, which saw $448 million in net outflows. For context, in dollar terms that’s the 24th largest daily outflow volume ever – and the second largest this year. 

Data via IntoTheBlock

Precedent

The largest of 2022, you may be wondering, was January 4th. Known as “Blue Monday”, they say it’s the most depressing day of the year – the return to work after the holidays. Apparently, people settled down to their computers to withdraw their crypto gifts into their cold wallets this year. Unfortunately, Ethereum plunged 21% in the next four days – so let’s hope that’s not a signal of what’s to come here.

I’m not really sure what exactly caused such a spike this Tuesday, given the lack of activity elsewhere. Maybe, just maybe, it’s plain old coincidence, huh? Or maybe somebody was afraid they would be tempted to redeem their ETH to buy a load of Guinness ahead of St Patrick’s Day. I don’t know.

Denominated in ETH terms, however, it marks the largest daily withdrawal since last October, at close to 180,000 ETH. In Ocotober, Ethereum did the opposite to January– ramping 14% in just over a week. Although it’s important to note that at 750,000 ETH, the withdrawal last October was over 4X what we saw on Tuesday. The graph below highlights the size of this move compared to last October, as well as the price action (black line). So be careful with your conclusions.  

Data via IntoTheBlock

Closing Thoughts

So, a somewhat notable tidbit to close the week from Ethereum then. Bitcoin behaved, while the crypto markets largely followed. A nice week without too much volatility. If only they were all like this, I reckon my heart rate would be significantly lower. Then again, wouldn’t life be less fun?

Still, next time we get those ugly red candle days, I’ll look upon weeks like this with green-eyed envy. In crypto, it could always be worse. Happy Weekend !

 

The post Could this on-chain metric catapult Ethereum’s price? appeared first on Coin Journal.

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Celsius expands hackathon series to feature latest talent and blockchain ideas

Celsius, one of the best-known cryptocurrency borrowing and lending platforms in the world, is expanding its hackathon series, PR News Wire reported. This decision was made following the success of its recent NFT Hackathon event, which took place in Serbia.

Exploring adoption of NFTs through Celsius

The Celsius NFT Hackathon took place in the Serbian capital of Belgrade on March 5-6. Its purpose was to explore the adoption and accessibility of NFTs through the Celsius platform.

The hackathon awarded prizes worth $5,000 in total. 21 teams of designers, developers, NFT fans, artists, and gallery owners took part in it.

Easy We C00l, the team who won the event, commented through their spokesperson:

In addition to positive and creative people, mentors, excellent organizations, and gaining new contacts, we also managed to learn about the business side of the solution.

Chikn Degens, who came in second, praised the friendly atmosphere of the hackathon, calling it „well organized.“ According to their statement, it offered „an opportunity to meet and connect with many interesting people.“

Third-ranking BlockOps were also very happy with the event. They said they had fun and met some amazing minds. They hope to be able to keep developing their hackathon idea.

Celsius co-founder and CTO Nuke Goldstein shared his view on the benefits of hackathons:

Hackathons are one way for Celsius to stay close to crypto’s cutting edge. The world is changing fast, and we know that the next great talent or idea can emerge from anywhere.

The platform is actively working on organizing more hackathons worldwide to feature the latest talent and blockchain ideas.

About Celsius

Celsius helps its clients, who number more than a million across the globe, achieve financial independence. This is made possible via instant low-cost loans and a compounding yield service accessible both on mobile and desktop.

Celsius is a blockchain-based feeless platform created on the belief that financial services should only do what is in the best interest of the community and customers. Membership in the platform gives access to customized financial services that are otherwise unavailable through conventional financial institutions.  

The post Celsius expands hackathon series to feature latest talent and blockchain ideas appeared first on Coin Journal.