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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Polygon (MATIC) hits all-time highs in intraday trading today – should you buy?

Polygon (MATIC) has surged in intraday trading today, hitting an all-time high of $2.7 at one point. The surge was triggered by the arrival of Uniswap V3 on the Polygon network. Uniswap is seen as a very important player in the growth of DeFi. Launching on Polygon is a huge achievement for MATIC investors. Here is what we know.

  • MATIC saw a bullish uptrend in early trading, surging to $2.7, its new all-time high

  • Analysts see the uptrend holding in the near term, with MATIC expected to see more gains in the future.

  • The deployment of Uniswap v3 is set to lift the profile of the Polygon network and bring more DeFi products in the long run. 

Data Source: Tradingview.com

Polygon (MATIC) – Price action and analysis

The bullish surge seen in intraday trading today was largely expected. After all, the launch of Uniswap v3 on Polygon was always going to be a big deal. However, MATIC has actually been on a somewhat bullish trajectory since the start of the week.

The coin did, however, lose some of its all-time high gains. At the time of writing, it was trading at $2.61. But looking at the chart, MATIC is now on an uptrend, and many analysts believe that it’s going to see more all-time highs before the end of the year. The coin could also benefit from a market-wide bullish uptrend expected to hit crypto early next year.

Should You Buy MATIC?

The future is bright for Polygon (MATIC). With the deployment of Uniswap v3, more and more DeFi projects are expected to launch on the network. Besides, since its inception, Polygon has processed over 1 billion transactions, making it one of the fastest-growing blockchain projects in the world. It is therefore highly recommended, especially for long-term value investors.

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Brian Kelly says Bitcoin and Nasdaq are trading “in lockstep”

Bitcoin’s 30-day correlation with the Nasdaq is 47%, the highest since September, the Fast Money trader told CNBC.

Brian Kelly says that Bitcoin and the Nasdaq have had the highest correlation in trading trajectory over the past few months.

According to the Fast Money trader, there’s a high chance this play could continue even as both markets bottom out early in the next year before seeing fresh upside momentum.

Kelly said this during an interview on Wednesday’s episode of CNBC’s “Fast Money.”

Asked to comment on the fact that Bitcoin (BTC)could be a leading indicator for where the Nasdaq trades next, he opined that as “Bitcoin gets more institutionalized, it is starting to get more and more correlated to traditional markets.”

He pointed to Bitcoin’s 30-day correlation with the Nasdaq Index, which at 47% is at the highest level seen since September when both bottomed. According to him, a look at the correlation chart for Bitcoin and the stock index shows that the two have traded in lockstep.

The only difference, Kelly pointed, was that the chart shows Bitcoin seemingly taking the lead before Nasdaq follows.

“Usually five to ten days or so, Bitcoin tends to lead,” Kelly said, exemplifying that with last weekend’s trading that saw Bitcoin break out from a short-term wedge.

The hedge fund manager also noted that increased mainstream adoption has institutions use the crypto as a risk-on hedge. According to the trader, if the correlation holds, then Bitcoin and the Nasdaq will maybe bottom early January and before ticking higher.

Mid-December saw both Bitcoin and the traditional markets tick up on the Federal Reserve’s announcement of speeding up the bond purchasing program and potentially introducing three interest rate hikes in 2022.

However, markets slipped once again as the Omicron variant of Covid-19 caused alarm across the globe, with this week’s seeing a bounce in Bitcoin and the Nasdaq.

Bitcoin reached highs of $69,000 in November but it then slid to break below $45,000 in December as a bearish sentiment took over, foiling many analysts‘ predictions of BTC hitting $100,000 in 2021.

As of writing, Bitcoin is struggling to hold above $49,000 after a decent breakout since the weekend. The digital gold has failed to break higher after breaching the $49k level, with weekly performance down at just 0.4%. However, BTC is up over 106% this past year.

Meanwhile, the Nasdaq is up 0.78% on the day and about 21.39% YTD even as analysts predict a dip in the first half of 2022 before a major rally ensues.

The post Brian Kelly says Bitcoin and Nasdaq are trading “in lockstep” appeared first on Coin Journal.

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Ripple CEO Brad Garlinghouse: 2021 has been a watershed year for crypto

Brad Garlinghouse says 2021 was Ripple’s strongest year, with the adoption of its ODL offering despite the company facing a lawsuit from the SEC.

Ripple CEO Brad Garlinghouse says 2021 provided a watershed moment for the crypto industry.  He believes developments over the past year have seen crypto broadly accepted, with billions of people getting an opportunity to get into a global financial community.

Garlinghouse also notes that the year was Ripple’s strongest ever, even with the negative sentiment that surrounded the company following the US Security and Exchange Commission (SEC) lawsuit.

The Ripple chief executive’s comments come as the broader cryptocurrency and blockchain space look to build on positives in 2021 as the market heads into 2022. 

Incidentally, it’s 2021 that saw the explosion of NFTs, growth in DeFi, and increased interest in the metaverse, as well as talk of Web 3. It’s also a year where the US signaled it would not follow China in cracking down on Bitcoin mining nor ban cryptocurrencies.

“It’s been incredible to see a lot less ‘maximalism’, and many more builders joining the industry,” he observed via a series of comments shared on Twitter. He sees this as a positive for the entire ecosystem.

Saying that the year was Ripple’s best ever, Garlinghouse pointed to the fact that 25% of RippleNet’s dollar-denominated volume was recorded via the XRP-based On-Demand Liquidity (ODL) feature. The network also recorded a spike in ODL transactions, which he said was 25 times more compared to stats from Q3 2020. The transaction count also grew 130% quarter over quarter.

Ripple also saw significant expansion by entering new markets for its ODL features, with new offerings in key corridors such as Japan and UAE.

Garlinghouse is one of the harshest critics of the SEC and he feels the regulator makes the US unattractive to crypto companies. He adds that while Web 2 was a work of several US companies, the same might not happen with Web 3.

Here he questioned the SEC’s approach to regulatory issues, saying it’s a farce to still refer to crypto as the “Wild West” when most industry players comply with financial regulators across the world.

According to him, what the industry needs is regulatory clarity and consistency from enforcement agencies, with companies not punished for demanding the same from relevant authorities.

Ripple has maintained the SEC’s accusation that the company’s executives engaged in illegal sales of a security token is an unfair classification of XRP, given the regulator’s view of Ethereum’s ETH.

XRP currently trades around $0.96, about 18% up over the past week and more than 116% up over the past year. However, while many of its peers rallied to new all-time highs in 2021, XRP peaked at around $1.96 in April and is more than 55% down on its ATH reached in early 2018.

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Best cryptocurrencies to buy and hold for at least 1 year

There are many speculative crypto assets, including meme coins and others. But there are also a few coins that have some amazing underlying fundamentals. These are typically the coins that will become huge in the future and drive much of the growth and innovation we will see in cryptocurrency. Here are also some reasons why it’s also the best time to buy right now.

  • First, cryptocurrencies have seen a market-wide correction in the last month, and most assets are trading low.

  • It is likely that 2022 will start with a bull run in most crypto assets.

  • If you don’t act now, you will get priced out very fast

Well, while there are a lot of coins right now to buy and hold for at least a year, the two below are our top picks.

Ethereum (ETH)

Ethereum (ETH) is the second-largest crypto by market cap, just after Bitcoin. But Ethereum is much more than a cryptocurrency. The blockchain is providing support for a huge variety of innovative blockchain projects, including DeFi and DApps. 

Data Source: Tradingview.com

In fact, it is estimated that at least 90% of all top blockchain projects are built on Ethereum. Also, the blockchain is expected to shift towards a proof-of-stake consensus model as opposed to the expensive proof-of-work. This will trigger extensive developer activity. Ethereum (ETH) is trading at $3,950.25, way lower from its highs of around $4600.

Terra (LUNA)

Terra (LUNA) is a stablecoin network designed to promote the growth of price-stable global payment systems. It launched in 2019 and has since grown massively to become one of the top 10 cryptos by market cap. 

Terra is expected to see heated growth in the future as applications for Stablecoins become more expansive. At press time, its native token LUNA, which also happens to be a stablecoin, was trading at $91.73.

The post Best cryptocurrencies to buy and hold for at least 1 year appeared first on Coin Journal.

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Best cryptocurrencies to buy with a market cap of less than USD 500 Million today

The crypto market, in general, has in recent years seen exponential growth. It’s therefore easy to think that there aren’t many coins that have enough upside for growth for you as an investor to take advantage of. But that’s not true. There are some coins that appear to be flying under the radar and as such, they are criminally undervalued. Here are some points:

  • Typically, coins with low market caps still have some room to grow.

  • They can be relatively new blockchain projects or older ones with a new twist.

  • Despite the low market cap, the coins should also have long-term intrinsic value as well.

So, if you are keen on finding the next crypto bargain, here are some incredible coins trading for less than USD 500 million in market cap:

Ultra (UOS)

Ultra (UOS) is an entertainment platform that provides a decentralised platform for people to publish and sell their entertainment. It could be music, videos, games, or anything else. It is actually the first such platform on the blockchain, and funny enough, Ultra has been under the radar for quite some time. 

Data Source: Tradingview.com

But this won’t last long. In fact, at the time of writing, the 24-hour trading volume had spiked by nearly 30%. The coin is trading at a market cap of $440 million with a price of $1.58 per coin.

EverRise (RISE)

EverRise (RISE) is a blockchain project designed to bring greater security in decentralised finance. The project is also looking to build an innovative system of DApps to accelerate access to DeFi around the world. 

It is a very promising initiative but remains significantly undervalued. At press time, the coin was trading at a market cap of around $55 million. The price per coin at the time was $0.0009016.

The post Best cryptocurrencies to buy with a market cap of less than USD 500 Million today appeared first on Coin Journal.