Kategorie: Crypto News

US billionaire and entrepreneur Mark Cuban has remained bullish on Polygon (MATIC) even as the altcoin reported some price weakness in recent days. Cuban believes that in 2022, Polygon will outperform Bitcoin and Ethereum in growth. But despite this, we have seen some bearish trends in MATIC over the last week or so. Here are some highlights:

• MATIC is currently trading at $1.58, down by about 5% in the last 24 hours.

• The coin has been on a downward trend in the last week.

• Price weakness could get worse for Polygon (MATIC) due to the geopolitical crisis in Europe.

Data Source: Tradingview 

Polygon (MATIC) – The long-term picture

Investors like Mike Cuban typically look at the long-term prospects of a coin and not the short-term ones. Yes, MATIC has seen some negative price action in recent days. In fact, the coin has actually struggled to cross over the $2 mark and is likely to face further weakness in the coming weeks. 

But the long-term fundamentals for Polygon are impeccable. We are also starting to see a lot of institutional money going into MATIC. This is the long-term picture Cuban is talking about. 

The billionaire sees Polygon as the most important Ethereum scaling solution with outstanding potential. Also, the 2022 outlook for MATIC is quite positive. Some prediction even shows that MATIC could in fact hit $100 by 2025.

Why you should buy Polygon (MATIC)

As noted above, the fundamentals for Polygon (MATIC) are simply amazing. The project has been making major moves, including building its ecosystem to take advantage of the growing NFT craze and crypto-related gaming. 

Polygon has the potential to become as huge as Ethereum. The fact that it is trading at $1.5 is a sure sign that it is time to get in. This coin could blow up very fast in the near future.

The post US Billionaire Mark Cuban remains bullish on Polygon (MATIC) despite recent price weakness – here is why appeared first on Coin Journal.

Huobi has announced that it is now offering support for BabyDoge Coin (BabyDoge). Huobi users will now be able to buy and sell the meme coin in what is one of the largest exchanges in the world. This is a huge development for BabyDoge Coin and here is why.

• The meme coins surged by nearly 14% after the news broke.

• BabyDoge has also reported increased adoptions in recent months.

• The listing opens the door for other exchanges to do the same.

Data Source: Tradingview

BabyDoge Coin (BabyDoge) – Where does it go from here

The moment coins start to get listed in major exchange platforms like Huobi; then you can expect some positive movements in the price. When news of the listing broke, BabyDoge in fact rose by nearly 13%. The coin continues to climb even further. At press time, it had added an additional 6% in value over the last 24 hours. 

Besides, Huobi is a huge exchange. The fact that it’s providing support for the meme coin means that other major exchanges will follow. We have also seen a lot of social media buzz around this coin.

Just recently, BabyDoge surged above 1 million followers on Twitter. It was also among the most purchased coins by 1000 of the biggest whales on the BSC chain. There is something cooking here no doubt, and it’s just a matter of time before it explodes.

Should you buy BabyDoge?

Well, meme coins can make you rich very fast, but they carry a lot of risks. Remember these are basically speculative assets that rarely have any significant underlying fundamentals. 

But as of now, BabyDoge looks like the hottest meme coin right now. We expect the coin to surge further as more exchange listings come in the near term. For this reason, it is a decent buy at this point in time.

The post Huobi opens deposits for BabyDoge Coin (BabyDoge) – The coin surges by nearly 13% appeared first on Coin Journal.

Cardano (ADA) has seen a lot of volatility in recent weeks. After hitting new lows during the January crypto slump, the coin has recovered a bit but lags behind some of the major coins in terms of gains. But is there any upside for growth? After all, the coin has traded in the red in the last two trading sessions. Here are some highlights:

• At press time, Cardano had shown some signs of reversing the downward trend.

• The coin is trading at $1 down about 4% in the last 24 hours.

• Cardano has seen strong support at the $1 over the last few weeks.

Data Source: Tradingview

Cardano (ADA) – what to expect in the coming days

Geo-political tensions in Eastern Europe have been playing a key role in influencing investor sentiment in crypto over the last few weeks. In fact, it is estimated that over $160 billion in crypto value has been lost due to this threat of war. For this reason, expect a lot of volatility around Cardano (ADA) in the days ahead. 

However, the key to watch here is the $1 support. Despite massive selling pressure, ADA bulls have held this support very well. If indeed the coin is able to keep the price action above $1, then a surge towards $1.5 is possible. But if we dip below $1, then there will be a significant additional weakness to come.

Is Cardano (ADA) a good buy today?

Cardano (ADA) has always been a good buy in the long term. But price volatility in recent weeks has made it a bit harder for investors to truly predict the direction of this asset. 

The truth is ADA is one of those few coins in the market that should be in your portfolio. It has a proven track record of delivering value, superb fundamentals, and a lot of credibility in the crypto space.

The post Cardano (ADA) climbs after losses in two straight sessions – Is there enough growth upside appeared first on Coin Journal.