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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Ripple (XRP) could accelerate to $0.82 in the near term

Ripple (XRP) has entered a bullish setup that could trigger a decisive uptrend. The coin has regained an important trend line and will look to build momentum in the coming days. But how far can it go? More analysis below but first, here are key takeaways.

  • XRP has consolidated gains firmly above the 100-day moving average

  • The coin has breached $0.72 and regained an important trend line.

  • The momentum could push XRP towards $0.82 in the near term.

Data Source: Tradingview

Ripple (XRP) and the upside potential

The broader crypto market has stabilized after a difficult start to April. Although most coins have not reported record-breaking returns, they have held to most of the gains we saw during the March bull run. 

XRP added 10% to its value last week and has now entered a bullish setup that could bring additional gains of around 15%. The moment the token smashed past $0.72, it entered an important upper trend line. So far, the coin has held this line and appears poised to surge towards $0.83. XRP also remains steadily above its 100-day SMA, something that adds more support to this bullish thesis. 

Despite this, there are still several risk factors. For starters, the relative strength index is still slightly in bear territory. This could make upward momentum very hard to sustain. For this reason, it would be best to approach this setup with effective risk management. In fact, if XRP falls below $0.68, this analysis will become null and void.

Should you buy XRP?

As noted above, some risk still remains for XRP. But the upside potential to gain 15% in the next few days is there. In that case, you can buy XRP but make sure you use small amounts of capital. 

However, if you plan to hold the coin for the long haul, then you can buy it without any worries. XRP’s long-term outlook is very positive.

The post Ripple (XRP) could accelerate to $0.82 in the near term appeared first on Coin Journal.

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Best DeFi projects on Solana to 5x your money in less than a year

DeFi is one of the hottest sectors in the crypto universe. New DeFi projects with enormous potential are coming out, some of which are in fact built on Solana. The blockchain is expected to be the launchpad for some of the most exciting DeFi projects in the future, and here is why:

  • Solana allows DeFi to be scaled up easier and faster

  • The Solana infrastructure is highly integrated with DeFi needs

  • Fees on Solana are way lower compared to other chains

Well, for investors looking for DeFi projects on Solana that could easily 5X your money, here is our top 3 list:

Oxygen Protocol (OXY)

Oxygen protocol (OXY) is designed to work as a decentralized bank. In fact, the project is trying to tap into one of the hottest DeFi trends right now. People want to reduce exposure to the traditional banking systems and are looking at the blockchain for solutions.

Projects like Oxygen are working to offer these solutions. If indeed decentralized banking takes off in 2022, OXY is going to explode.

Delta One

Delta One is a new DeFi project on Solana designed to offer users low-risk yield farming across multiple chains. Work on this project started last year, and while it is yet to reach full market value, there is just so much potential. In fact, Delta One recently raised nearly $10 million to fund the development of its ecosystem. It has big-name backers and investors, too including Pantera Capital, Almeda Research, and so many others.

Solend (SLD)

Solend (SLND) is a borrowing and lending protocol designed to offer users low-risk collateralized crypto loans. It’s also a fairly exciting project with quite some potential too. SLND is hoping to become the most popular lending protocol on Solana by leveraging the platform’s speed and low fees. So far, it is seeing very decent growth.

The post Best DeFi projects on Solana to 5x your money in less than a year appeared first on Coin Journal.

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Top 3 projects on Cardano that you should consider in April

Cardano (ADA) is one of the most popular Ethereum alternatives in the world. It has, over the years, attracted a lot of new and innovative projects. Well, there are several reasons why Cardano projects are quite popular. Here is why:

  • Cardano offers better scalability compared to Ethereum

  • The chain is also embracing a diversified ecosystem of DAPPs.

  • Cardano is known for low fees, faster speeds, and sustainability.

So, if you are planning to invest in promising projects built on Cardano, the top 3 lists below should be perfect.

Ardana (DANA)

Ardana (DANA) is a stablecoin that is backed by an array of assets. It also doubles up as a liquidity provider for decentralized exchanges. DANA is typically overcollateralized with native assets on the Cardano chain.

This makes stablecoin trading within the ecosystem efficient and less costly. The hope is to make Ardana the ultimate MakerDAO for the Cardano platform. So far, the coin has a market cap of around $30 million. The potential for more value is therefore very high.

Drunken Dragon Games (FT)

Drunken Dragon Games is a newer gaming project. It is one of the most promising GameFi assets on Cardano as we speak. As noted above, Cardano has embraced full diversity in its ecosystem. As such, the chain is bringing all manner of apps including blockchain gaming. Drunken Dragon also adds an NFT element to its offerings. Although the project is not big right now, it has all the potential for great success.

Revuto (REVU)

Revuto (REVU) is an innovative service that allows users to manage subscriptions. The beauty of this project is that it allows you to do it in a decentralized way. People have dozens of subscriptions these days. It can be easy to lose track of them and end up paying for things you don’t need. Revuto will ensure this doesn’t happen.

The post Top 3 projects on Cardano that you should consider in April appeared first on Coin Journal.

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Bitcoin touches $42.5K as analyst points to a possible trend reversal

  • Bitcoin has touched intraday highs of $42,562, the highest price level this past week.

  • Analysts say holding above $43K could see BTC-USD eye fresh gains to $50K or higher.

  • This is likely if an inverse head and shoulder pattern validates, says an analyst

Bitcoin has bounced off lows of $39K this past week, with some selling by whales (amid US tax season selling) contributing to the negative sentiment. But despite the offloading, whale accumulation by addresses holding 10,000 BTC or more has remained in an uptrend since early 2021.

A key price level to watch, according to the highly respected crypto analyst Rekt Capital is $43,000. 

He says some large holders sold at this level, suggesting bulls face a challenge here. Break that and BTC could post further gains in the $43K-$50K range.

“Number of unique addresses holding min. 10K BTC has been increasing since Feb ’21. That said, 1st signs of a Lower High forming as some whales offloaded positions at ~$43K,” the analyst noted in a tweet Wednesday.

Possible trend reversal for BTC?

Popular analyst and trader Michael van de Poppe also sees the $42.5K-$43K level as key for bulls. He suggests a daily close above this level would boost buyers and open up $46,000 as the new target. 

A run to $50,000 would not be out of the picture in such a scenario.

“If the market wants to see continuation, it has to crack that region around $42.3K for Bitcoin. This is also a daily breaker. If it breaks, I’m assuming a new test of $46K is around the corner and possibly $50k+.”

Crypto trader Dan Gambardello highlights the formation of an inverse head and shoulders pattern as suggestive of a breakout. The pattern is a common indicator that traders use to identify a potential trend reversal.

If the price breaks and sustains above the neckline (in this case an upward sloping line), the pattern’s height suggests a possible retest of prices above $46K. Invalidation of course opens up the possibility of new downward action to recent lows.

“Bitcoin upward sloping inverse head & shoulders, target $46,000,” said Gambardello, the founder of Crypto Capital Venture.

Chart showing inverse head and shoulder pattern on the 6-hour chart. Source: Dan Garmbadello on Twitter.

Pseudonymous trader HornHairs says the market structure on the 12-hour chart suggests new momentum is likely. He notes that any fresh drawdown presents a buying opportunity.

“12H confirmed a break in market structure to the upside – dips are for buying for now,” he tweeted early Wednesday.

Bitcoin was trading at around $42,528 at the time of writing, up 1.1% in the past 24 hours.

The post Bitcoin touches $42.5K as analyst points to a possible trend reversal appeared first on Coin Journal.

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Highlights April 21: Cryptos mixed, strong day for dog-themed meme coins

The crypto market as a whole was mixed today with the majority of top 20 cryptos registering slight losses. Bitcoin’s price rebounded in Asian hours, resulting in gains for many other cryptos. It was trading for just under $42,000 at the time of writing. 

Top cryptos

Most cryptos saw changes of +/- 1-3% in their value. All of the top 10 are flat. 18th-ranked NEAR Protocol has reversed recent gains, down by around 4% today. 

Top movers

The movement was similar outside the top 20. Privacy coins are seeing an upswing. Monero is a prime example, up 6% in the last 24 h. EOS is another, gaining 8%. Theta Network’s THETA also added 6% to its value. 

CAKE, the coin of the PancakeSwap exchange and automated market maker, is up 10%. One possible reason for its surge is the ongoing PancakeSwap and BSC Easter campaign, in which the two platforms are handing out $15,000. 

Zilliqa, the world’s first public blockchain to rely entirely on a sharded network, added 9% to its value today. 

The biggest top 100 winner by far is 0x’s token ZRX, which gained 52% after announcing a partnership with leading crypto exchange Coinbase to power the latter’s new social NFT marketplace. 

Kava is on an upward trajectory as the Kava 10 Mainnet upgrade approaches. It will go live on May 10. Kava added 15% to its value today. 

Synthetix, a decentralized finance protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets, is at #100 with gains of 7% in the last 24 h. 

The biggest losers are Loopring (-7%), STEPN’s GMT (-6%), and ApeCoin (-9%), all of which are seeing an end to recent rallies.  

Trending

It’s a strong day for canine meme coins. Dogelon Mars gained 50% on reports of an upcoming listing on Binance, and the upswing was supported by the Bitcoin price rebound.  

Another meme coin, Shiba Rewards, is up 229% today. Its creators say they made it out of frustration due to many new projects featuring high taxes with a majority collected going to the developers rather than the investors. 

The SHREW token was designed to be a low tax rewards token and features a 0% buy and transfer tax. 

The post Highlights April 21: Cryptos mixed, strong day for dog-themed meme coins appeared first on Coin Journal.