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 rose more than 10% on the day as traders target a $120 resistance level

  • Solana’s price is bullish after finding support at $81. 

  • SOL/USD is presently trading at $108.5

  • The next resistance level is at $120

Solana’s price is currently forming a bullish trend, as we expect the existing consolidation to conclude with a break over the $112 barrier. If the breakthrough is robust today, experts believe there will be even more potential next week.

The price is headed for a break over $120 since no resistance points prevent it from attaining that level.

SOL/USD price fluctuation in the previous 24 hours: Is there a chance of a positive reversal?

The SOL/USD pair is now trading at $108, with a bullish trend emerging, with negligible signs indicating a negative trend; therefore, we are strongly bullish on SOL/USD.

Nevertheless, there was significant buying behavior in this zone when a support point around $90 halted the bearish trend. The price rose to break the $100 resistance and found short-term resistance at $110 before consolidating afterward, establishing a symmetrical triangle formation on the hourly chart, which might result in another breakthrough above the $115 mark.

Source – TradingView

Solana’s price has crossed over the resistance level of $110, indicating a possible bullish rally in the next few days or weeks. 

As a result, it seems that SOL/USD may trade around the $120-$130 area this week, with just a few dips predicted before a significant ascending trend starts.

The price is currently above the 23.6 percent Fibonacci retracement level at $95.08, pushing through the $100 barrier. The present price is above the 100 EMA line at $96. There is no evidence of a substantial pullback shortly.

The MACD indicator is currently in the bullish zone, with its signal point delivering a robust buy signal after passing above the MACD line during the weekend.

The post Solana rose more than 10% on the day as traders target a $120 resistance level appeared first on Coin Journal.

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Shiba Inu (SHIB) can actually reach $1 – But here is what needs to be done first

There is no doubt that Shiba Inu (SHIB) was the biggest meme coin of 2021. The so-called Dogecoin killer went on to make so many people rich but has since lost some of those gains. However, the big question for most people has always been the road towards $1 for SHIB. Is it even possible? Well, here are some highlights.

  • At the time of writing, SHIB was trading at $0.0000217 with a market cap of around $11 billion.

  • For SHIB to hit $1, it will need to grow by nearly 5 million percent over the coming years.

  • While this may seem impossible, the fact that SHIB grew by nearly 26 million percent in 2021 makes it quite feasible.

Data Source: Tradingview.com

What needs to happen for SHIB to hit $1

The road to $1 for SHIB will not be easy and it will have a lot of ups and downs. In fact, the 2021 surge was driven by many factors, most of which may not be available for SHIB in the future. 

For example, when the meme coin was approved to trade in major exchanges, it simply mooned. But that is now water under the bridge. After all, SHIB is already in those exchanges. 

Also, the crypto market appears to be correcting sharply in 2022. Memecoins like SHIB will get hit hard. Nonetheless, Shiba Inu must reduce the circulating supply to get to that level. Right now, they’re about 550 trillion coins in circulation which is just too much.

Can you buy SHIB now?

Most experts will argue that the good days of Shiba Inu are way gone. But there is still enough upside for growth, albeit not the massive sharp rise we saw last year. 

For instance, SHIB is currently trading way lower than its 2021 highs. You can buy and hope to ride any recovery towards that price before you exit. Nonetheless, SHIB, like many meme coins, is highly risky.

The post Shiba Inu (SHIB) can actually reach $1 – But here is what needs to be done first appeared first on Coin Journal.

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GARI Token making waves in India: Here’s why Garicoin is up 100% in the past week

  • GARI airdrop as the Chingari app is also set to integrate the GARI token on 5 February.
  • Social app Chingari is making it easy for creators and influencers monetize content, giving them a lucrative platform to earn crypto and non-fungible tokens (NFTs)
  • India appeared to recognise crypto with a tax proposal on Tuesday

GARI token, the first social cryptocurrency token in India, has surged more than 100% this past week.

Over the past 24 hours, Garicoin price is up 20% and the GARI/USD pair has seen an intraday volume of $31.8 million according to data from CoinGecko. Daily trading volume is up 78%. GARI is even the top bullish trend on the USDT pair on the crypto exchange Gate.io, with over 160 tweets in the last hour about the token adding to the fact that this coin is hot.

GARI/USDT traded at lows of $0.25 on 24 January but rallied to $0.63 on 1 February 2022. Currently, it trades around $0.62. Its all-time high is $0.78, reached on 18 January 2022.  

Here is a chart of the GARI/USDT pair. Source: TradingView

But what is making the relatively unknown crypto token command such volume and interest from the crypto community?

Why GARI token rallied tenfold this week

The 100% upside seen in the Garicoin token is down to excitement among users of the Chingari App, a top social platform in India with over 32 million active users. 

India has a population of 1.38 billion people, giving the app room for further growth and potential price implication for the GARI token.

The app is powered by the GARI token, which was launched in late 2021 and reportedly moving towards integration into the popular app later this week. An airdrop towards has been ongoing as the launch nears.

The momentum seen in the day could also be down to the crypto community’s reaction to the Indian government’s signal that they may not ban cryptocurrencies after all. This happened as the country sought to introduce a 30% tax on crypto income, including NFTs.

Celebrity ambassador

Since its launch on October 16 last year, the GARI token has carried somewhat of a celebrity aura around. The appearance of Bollywood star Salman Khan and other household names at the launch of the crypto-focused social platform Chingari highlighted it to the crypto community in India.

Over the past two months or so, a growing pool of content creators and influencers seeking to monetize their talent has flocked to the blockchain-based platform, elevating demand for the GARI token.

The growth in NFTs is also a key factor in the increased demand for the coin, with users earning NFTs and monetizing them through features such as play-2-earn.

The post GARI Token making waves in India: Here’s why Garicoin is up 100% in the past week appeared first on Coin Journal.

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Astra Protocol guarantees identity protection to The Sandbox users

Astra Protocol, a cutting-edge legal and compliance layer that brings unmatched assurance to public blockchains, announced that it has set up a Compliance Hub in The Sandbox virtual world, CoinJournal learned from a press release.

The new Compliance Hub will equip metaverse users with a decentralized compliance layer, including Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) capabilities.

Making the metaverse safer for all

With its new Compliance Hub, Astra aims to make the emerging metaverse frontier safer for all participants. The layer resolves on-chain compliance issues using the expertise of trusted legal firms and its patented technology.

Astra has created a unique DLN (Decentralized Legal Network) comprised of all major, global audit and legal firms to make the best KYC/AML services available. The DLN incorporates jurisdictions in almost 200 countries, making sure regulations can be met almost anywhere in the world.

Users can connect to Hub’s DLN, gain accreditation, and more

A wide variety of options are available to metaverse users: connecting to the Compliance Hub’s DLN, obtaining accreditation, and receiving a non-transferrable NFT. The NFT will provide privileged access to otherwise inaccessible special events.

Following user verification, it’s possible to take part in any metaverse event you want without worrying about identity compromise. Astra’s services protect users from malicious or harmful accounts while solving identity issues.

Jez Ali, the founder of Astra Protocol, said:

We are delighted to announce the Astra Protocol’s entry into the metaverse with our first plot in The Sandbox. The future of metaverse development will be a long-lasting and innovative mission which has already shown incredible growth and is an exciting area of Web3. By deploying the first Compliance Hub in the metaverse, we can support this growth by adding a layer of protection for users across the world.

Astra Protocol chose The Sandbox to launch its Compliance Hub because of its fun and desirable locations. The majority of metaverse users turn to The Sandbox for new immersive experiences and ways to interact.

Competition for The Sandbox locations is cutthroat with only 166,464 individual plots of land available.

The post Astra Protocol guarantees identity protection to The Sandbox users appeared first on Coin Journal.

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6 altcoins to watch for a buying opportunity including XRP, UNI, and AAVE: Santiment

  • XRP was last positive in mid-December, Santiment says as they predict a potential upswing for the cryptocurrency.

  • The MVRV ratios for other altcoins like Aave, Uniswap and Compound point to a possible upswing.

Hunting for bargain buys? Looking at the market value to realized value (MVRV) ratio can be a good starting point, Santiment says in its weekly outlook.

“MVRV is a great metric to gauge how deep traders are into pain or euphoria zones,” the firm wrote.

Considering “how much pain” traders have endured over the short-term to long-term timeframes helps to get a clearer picture of opportunities that may lie.

Analysts at the platform have zeroed in on some of the coins likely to be excellent buys.

6 altcoins that could offer a great ‚buy the dip‘ opportunity

Santiment, an on-chain analytics platform tracking the technical and fundamental outlook of most cryptocurrencies, says the above altcoins are among those likely to offer a buying opportunity.

An analysis of the coins, the platform points out, shows they are underbought at the moment and could therefore be an opportunity to those seeking a fresh “buy low” entry point.

XRP

Santiment says XRP’s MVRV is at “its most negative average” level since the end of June last year. According to the firm, XRP last traded in the green on this metric in mid-December and is thus one of the altcoins likely to see a major upswing.

Uniswap (UNI)

Santiment is also positive about Uniswap (UNI), noting in its report that the 30th ranked crypto asset (by market cap) is also posting an average MVRV at its lowest level ever.

The UNI/USD pair is up 6% on the day and Santiment projects a new rally for the markets could see this altcoin recover to recent highs.

Aave (AAVE), Compound (COMP) The Graph (GRT) and Loopring (LRC)

Santiment says traders could reap big from these four other altcoins, which the platform notes have an outlook similar to XRP and Uniswap. The tokens are Aave (AAVE), Compound (COMP), The Graph (GRT), and Loopring (LRC).

Santiment’s average MVRV data shows all these altcoins are in the negative, sitting near all-time lows.

Altcoins bouncing higher

Most cryptocurrencies had a January to forget, with monthly losses reaching into double digits as sell-off pressure intensified across crypto and traditional financial markets.

Several crypto assets have however bounced higher over the past 24 hours as they recoup some of the losses suffered in January. Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Terra (LUNA) are all seeing double-digit gains on the day, while Bitcoin has jumped 7% as bulls eye a break above $39,000.

XRP Network (XRP), Uniswap (UNI) and Aave (AAVE) are also up, with XRP and UNI both 6% in the green and AAVE 11.7% higher. Gains for these coins could see them break above key barriers as the broader market catches a breather.

The post 6 altcoins to watch for a buying opportunity including XRP, UNI, and AAVE: Santiment appeared first on Coin Journal.