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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Gala (GALA) continues free fall as hopes for quick rebound shrink – price analysis and prediction

After ranking as one of the top performers of the year in 2021, Gala (GALA), one of the most popular gaming tokens in the market, has quite literally collapsed. The price action has largely been on free fall over the last few weeks, and any hopes of a quick rebound appear slim at best. Here are some notable highlights:

  • At the time of writing, GALA was trading at $0.2825, the lowest it has been over the last three months.

  • The token is also nearly 70% down from its all-time highs in 2021, following in the steps of other gaming tokens that are on the red.

  • There is serious investor concern about the potential growth of play to earn games in the long run.

Data Source: Tradingview.com 

Gala (GALA) – price prediction and analysis

Gala (GALA) was developed to become a disruptive blockchain project in the gaming world. So far, even with the current price slump, it has done quite well, returning over 4000% in profits in 2021. 

But it seems like investor appetite towards play-to-earn tokens is hampering. In fact, GALA follows other gaming coins like Enjin, Sandbox, Decentraland, and Axie Infinity in decline. 

Right now, GALA is well below the 25- and 50-day moving averages and has been for quite some time, suggesting a sustained bearish trend. We see the token dropping below $0.25 in the coming days.

Should you buy Gala (GALA)

There is always this argument that some tokens, especially in the metaverse and NFT space, are overpriced due to investor hype. This is very true for GALA. A good rule would be to wait until the price goes through a correction of sorts and buy then. A dip below $0.2, which appears imminent, offers the perfect entry point for investors who want to add GALA into their portfolio.

The post Gala (GALA) continues free fall as hopes for quick rebound shrink – price analysis and prediction appeared first on Coin Journal.

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Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend?

The general outlook on Sandbox (SAND) over the last few weeks has been bearish. The metaverse token is now approaching a crucial support point in its price action. What happens from there will determine how it fairs in the near term. But can Sandbox (SAND) break the downtrend? The analysis is below but first, some highlight:

  • Sandbox (SAND) is rapidly sliding down to its support zone of $4.2 after a bearish start to the year.

  • This support level has however held strong after being tested twice before but bear pressure is very high.

  • At the time of writing, the token was trading for $4.31, slightly above this zone and up around 2.5% in 24 hours.

Data Source: Trading view

Sandbox (SAND) – Price action and analysis

Like most coins in the crypto market, Sandbox (SAND) has seen a consistent decline for most parts of the year. The coin is in fact trading 15% lower compared to seven days ago albeit it has managed to pair up some of those losses with a 2% intraday gain. 

However, the downtrend has sent SAND towards its crucial support of $4.2. The support has been tested twice before this year and held strong. But if SAND fails to hold off the downtrend this time and falls below the $4.2 mark, the coin could tumble even further towards $3.3 and eventually $2.8. 

But, if bulls can hold off the pressure and maintain gains above that threshold, a quick rebound towards $4.6 is quite feasible in the near term.

Should you buy Sandbox (SAND)

Yes, Sandbox (SAND) is one of the most popular tokens right now due to the anticipation of the metaverse. The token was also one of the big performers in 2021, and despite the rocky start into the new year, long-term Sandbox (SAND) will still deliver incredible value to investors. It is therefore a decent buy right now.

The post Sandbox (SAND) is approaching a key support zone – Can it reverse the downward trend? appeared first on Coin Journal.

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Here are three reasons behind the recent Propy (PRO) price surge

The price of Propy (PROP) token saw an astronomical rise between January 10 and January 18, before going into the current pullback that is small compared to the kind of surge the token made.

Propy (PROP) token is the native token of the Propy protocol, a protocol that integrates blockchain technology with the real estate sector by automating the whole process of home buying to make it simpler, secure, and faster.

In the course of 2021, Non-Fungible Tokens (NFTs) had gained popularity through digital images like the CryptoPunks and Bored Ape Yacht Club. However, Propy is determined to expand the functionality of the NFTs past the digital art space into the real estate NFTs.

Why the surge in Propy price?

The recent Propy price surge was a result of the growing potential of NFTs for use in different cases, its token listing on Coinbase exchange, and the first sale of the real estate NFT.

The Coinbase listing

The price surge of the PRO token on 14th Jan was mainly contributed by the listing of the second largest cryptocurrency exchange globally by volume, Coinbase which serves US-based investors.

Before Coinbase listing, the PRO token was only available on a few exchanges like the Bitrue, Huobi Global, and decentralized exchange Uniswap.

The first real estate NFT in the U.S.

The upcoming sale of the first real estate NFT in the U.S has been the second development that boosted the trading volume and the price of PRO.

According to Propy founder and CEO Natalia Karayaneva, the reason behind choosing Florida as its U.S-based real estate sale is the growing market and the 0% state individual income tax policy, positive future price growth and demographic statistics, and a crypto-friendly state government.

As they make their first real estate sale in Tampa U.S, TechCrunch founder, Michael Arrington, already sold his Kyiv apartment for 36 Ether back in 2017, which was Propy’s first-ever NFT sale.

The rising popularity of NFTs and blockchain technology

The overall growth in awareness in blockchain technology and the NFTs has also been another reason behind Propy building momentum.

Last year NFT interest and trading volume increased public awareness of integrating NFTs with corporate contracts and houses which has been a topic of discussion for years.

Real estate has been preferred as a safe haven for investors who are looking for a secure place to store their wealth.

With the integration of blockchain technology and NFTs, the process of buying and holding real estate will soon enter the 21st century since the middlemen will be limited lowering the cost of the whole process.

The post Here are three reasons behind the recent Propy (PRO) price surge appeared first on Coin Journal.

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Here is the reason behind the current Terra (LUNA) bullish trajectory

Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins to influence the price of stable global payments systems, has surged by 4.78% in the last 24 hours.

LUNA is currently the fourth largest stablecoin in the market.

It is currently trading at $82.69 with a 24-hour trading volume of $1.6 million.

Why the bullish momentum.

The current Terra (LUNA) bullish trajectory is associated with the latest news about the unveiling of the LUNA Foundation Guard (LFG), whose main objective is to sustain and support open-source technology.

From Terraform Labs, the LUNA Foundation Guard secured an initial gift allocation of 50 million LUNA tokens.

The Co-Founder and CEO of Terraform Lab, Do Kwon said:

“The LFG mandate to continuously support the peg stability of Terra’s stablecoins and ecosystem development powered by Terra’s best builders offers a new pathway for the growth and sustainability of decentralized money. A decentralized economy needs decentralized money, and LFG provides another nexus of resources to achieve that goal”.

The LFG will focus on fund allocation to the development of the Terra ecosystem and also safeguarding the UST peg in volatile market conditions and building reserves

Marketing the Terra economy

To market and boost the Terra economy LFG will fund the Defi projects that have a high demand for the Terra algorithm stablecoins as they pioneer the emerging decentralized finance solutions.

LFG will also be focusing on the sustainability and the peg stability of the Terra native stablecoin Terra USD (UST) under the international council which will be adding a new builder in the Terra Ecosystem.

Regarding this development, the founder of Chromos, Nicholas Platias said:

‘’LFG’s mission is going to reshape how the industry views algorithmic stablecoins and their long-term sustainability. The LFG offers another lever for closing the demand loop of Terra stablecoins, building a vibrant economy around their usage across Web 3 applications, and providing more robust peg defenses during volatility’’.

Terra LUNA has tirelessly worked its way through to the top ten crypto list and is currently ranked 9th according to data from Coinmarketcap.

The post Here is the reason behind the current Terra (LUNA) bullish trajectory appeared first on Coin Journal.

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Market highlights January 20: Cardano keeps sliding, gold and silver related stocks soar

The crypto market is more or less flat today, with most top 10 cryptos having registered gains or losses of less than 1%.

As inflation continues to rise in the US and other parts of the world, demand for precious metals is increasing. Over the past 24 hours, many stocks relating to gold and silver made notable gains.

Examples are Harmony Gold Mining (+16%), Gold Fields (+12.8%), AngloGold (+12.2), and Pan American Silver (+9.5%).

US markets fell yesterday as Germany’s 10-year treasury bond yield turned positive for the first time since May 2019. 

Top cryptos

Cardano continues to slide after posting weekly gains of more than 30%, losing around 3% over the past 24 hours. BNB rose almost 2%, Terra by more than 3%. Bitcoin was trading just under $42,000 at time of writing.

Cosmos is a notable standout in the top 20, up 7.33% in the last 24 hours.

Top movers

FTX Token, the native token of crypto exchange FTX, surged 9% today. Stacks lost 10%, reversing yesterday’s spectacular gains.

The majority of remaining top 100 coins moved in the range of +/- 1-3%.

Trending

The biggest gainer is gaming-based passive income generating cryptocurrency NinjaFloki, the value of which rose by 650% today.

Moonbeam, which Binance recently listed, is skyrocketing, having added almost 25% to its value in the last 24 hours. 

Baby Doge Coin is emerging as a dog-themed meme coin with staying power. It has been gaining over the past week and today is no exception with an increase of 9%. 

The price of REN, the token of REN Protocol, has been rising after an announcement that it has been listed on eToro yesterday. The same goes for Fetch.ai, which eToro also listed. Fetch.ai’s native token FET has gained 9% in the last 24 h.

 

The post Market highlights January 20: Cardano keeps sliding, gold and silver related stocks soar appeared first on Coin Journal.