Kategorie: Crypto News

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Zilliqa looks poised for a 30% upswing in the coming days

Zilliqa (ZIL) was a huge performer in the last three weeks. The coin saw record-breaking gains even as other coins slowed. But a correction that followed that mesmerizing surge put some breaks on ZIL’s rise. However, the coin still has a lot of potentials:

  • Increased buying pressure could push ZIL up in the days ahead.

  • The coin is now within a crucial demand zone of between $0.097 and $0.121.

  • ZIL has a potential upswing of around 30%

Data Source: Tradingview 

How Zilliqa can regain its momentum

ZIL has been slowing quite rapidly over the last week or so. In fact, after peaking during the last week of March, the token has lost nearly 56% of its value. But after a period of consolidation, the coin has now started to rise again. 

ZIL currently sits in between a very crucial demand zone that ranges from $0.097 to $0.121. In the past, this zone has provided a lot of buying pressure and so far, we are starting to see some uptick in bullish activity. ZIL has surged by at least 7% over the last 24 hours. We expect bulls to continue buying within this zone. 

As a result, ZIL will explode, bringing gains of at least 30% in the process. However, it is unlikely that ZIL will reclaim its all-time high of $0.237. While this is possible this year, in the near term, we expect the coin to face major resistance zones before it even gets close to $0.2.

What are ZIL’s long-term prospects?

After an exponential rally last month that saw gains of around 540%, it is clear that ZIL has run out of steam. In the near and medium-term, we expect the coin to struggle for demand. But in the long term, ZIL still has immense potential, and 2022 could still prove a very successful year for the token.

The post Zilliqa looks poised for a 30% upswing in the coming days appeared first on Coin Journal.

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Apecoin could see massive gains as whales continue to accommodate

Apecoin (APE) has faced a consistent downtrend over the last four days. But today, the coin has bounced back and appears to have reversed the downward pressure. APE is however not done yet. More gains could come as whale accumulation continues. Here are the main facts:

  • APE could add 22% to its value in its recent bull run

  • The coin could however face selling pressure after crossing $15.

  • APE is up 10% over the last 24 hours.

Data Source: Tradingview 

Apecoin – The bullish setup

After peaking at the $17.46 price back in March, APE has struggled to find any decent momentum. Instead, the coin had started to spiral downwards. But it seems this downward trend is now reversing. In fact, APE was up 10% over the last 24 hours. 

This recent bull run could trigger a 22% rally as whales continue to accumulate the coin. RSI also shows that APE is building momentum. As long as the price action remains above $10 in the days ahead, we can expect more gains in the near term. 

However, there is some limited upside potential here. In recent days, the range between $14.23 and $15.98 has proved to be a serious sell zone for investors. We don’t expect this to change anytime soon. Although the 22% upswing is very possible, APE is likely to pull back further down the moment it hits the sell zone above.

How to profit from this setup

There isn’t a lot of downside risk right now for APE. After four down days in a row, it seems the coin is poised for better returns. The best entry price will be between $11.5 and $12.5. It is likely that APE will surge past $14 in the days ahead. This would be the perfect time to sell and earn at least 15% in profit.

The post Apecoin could see massive gains as whales continue to accommodate appeared first on Coin Journal.

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Why has Atari Token (ATRI) dropped by over 25% today?

While the majority of the coins are making significant gains, Atari Token (ATRI) is nose diving.

At the time of writing, Atari Token is trading at $0.012993 after hitting a daily high of $0.0183 and a daily low of $0.01112.

But why is the token price dropping? In this article, we will focus on all the possible reasons for the downtrend.

Why is Atari Token price plummeting?

Before we go into the details as to why the token is dipping, let’s first understand what Atari is.

Atari Token is a decentralized cryptocurrency launched on the Ethereum blockchain to establish a universal mode of payment in the Atari video gaming space as well as allow publishers and developers to have a new way of monetizing their products.

Let’s now take a look at why is the token price tumbling.

Atari terminates its partnership with ICICB Group

One of the main reasons for the dip is the Atari, the gaming company, announcement in a news release that it has terminated its partnership with ICICB Group.

 The two companies had teamed up to launch the crypto and also Atari branded hotels across the globe.

This was back in 2020 when the hotels had announced that they will be accepting ATR as a mode of payment, where the gaming brand was to receive a 5% cut-off of all the revenues from the business venture with each venue set to offer immersive video game theme.

This was a big blow to the crypto and its holders. Following the news, the token has been on a downtrend.

However, it’s not clear what altered the deal, but the covid 19 pandemic might have contributed to some length of their plans to build extravagant accommodations worldwide.

Atari told the investors that the ICICB group is not authorized to represent the Atari brand on any of its official websites, social media channels, or whitepapers.

Reimbursing its holders

Despite all that, On Monday afternoon, April 18, 2022, a snapshot of all the ATRI holders was taken and a new exchange platform will be launched at a later date, therefore investors don’t have to worry.

 

The post Why has Atari Token (ATRI) dropped by over 25% today? appeared first on Coin Journal.

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$SAND price has gained more than 10% today: here is why

SAND price has been rising since April 17 and the bullish trend is gaining momentum every day.

At the time of writing, SAND was trading at $2.94; up 11.18% in the last 24 hours. It has hit a daily high of $2.99 and a daily low of $2.61.

Currently, its trading volume is $522.46 million which is much higher than the one it had on April 17 trading volume of $225.07 million.

In this article, we will focus on the factors causing the price of SAND to rally.

Why is SAND price rising?

Before we go into the details of the current price rally, let’s first lay a state what is The Sandbox and what is SAND.

The Sandbox is a blockchain-based online game owned by Amonica Brands Corporation that allows users to create, sell and buy digital assets. It was launched in 2011 and SAND is its native token.

Now onto the reasons behind the current rally.

Plan to raise $400 million

One of the main reasons that have attributed to the current price upswing is Bloomberg comment that the team behind the The Sandbox is planning to raise another $400 million; something that will see its valuation jump to $4 billion from both existing and new investors.

It is important to note that The Sandbox had a similar fundraising project in November last year 2021, where it was able to raise $93 million led by Softbank. 

However, the team has not yet set the grounds on which the fundraising will be carried out since this will be influenced by the markets.

The Sandbox gameplan

This time round The Sandbox has a clear game plan for having its Metaverse platform. 

Besides, The Sandbox had attracted prominent organizations like HSBC, a British banking organization, where they had partnered earlier this year after the organization was interested in buying a virtual real estate, LAND.

Rumors of The sandbox conducting an IPO

There have been rumours of The Sandbox conducting an Initial Public Offering (IPO), but The Sandbox Co-founder and chief operating officer, Sebastien Borgen disapproved the rumors.

The post $SAND price has gained more than 10% today: here is why appeared first on Coin Journal.

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CoinDCX raises $135M in funding towards crypto and Web3 growth

CoinDCX CEO Sumit Gupta said the crypto exchange will use the funds to help support crypto adoption and Web3 projects in India.

CoinDCX, one of the largest cryptocurrency exchanges, has announced a $135 million Series D funding round, according to details shared by the firm’s CEO Sumit Gupta.

“Excited to share that CoinDCX has raised over USD 135 million, in our latest Series D funding round. Another step closer to our dream of making crypto accessible to every Indian,” Gupta tweeted on Tuesday.

The funding round was led by Pantera Capital and Steadview Capital. Others to participate in the round were Kingsway, Draper Dragon, Kindred and Republic. 

CoinDCX’s series D financing also attracted further investment from existing investors B Capital Group, Coinbase, Polychain Capital and Cadenza.

The investment round pushed the India-based crypto exchange’s valuation to $2.15 billion. The company became India’s first crypto unicorn when it was valued at $1.1 billion during its Series C funding last August. The exchange has now raised over $245 million.

Web3 growth in India

The crypto startup’s funding round and plans around crypto adoption and Web3 comes just a couple of weeks after India’s tax regulation took effect. The 30% capital gains tax took effect on 1 April, with various aspects of the taxation criticized as potential setbacks to the industry.

CoinDCX wants to support growth within the crypto sector as well as Web3.

“We are on a mission to build a greater understanding and trust between regulators, industry, and our users. This latest round of funding will help us accelerate the growth of Crypto adoption in India and further the march of Web3.0,” he noted.

To help achieve these goals, CoinDCX has plans to make an even bigger impact via blockchain awareness and education programs for Indian investors.

The exchange will also use the funds for risk management as it seeks to offer its users a safe platform to transact.

The post CoinDCX raises $135M in funding towards crypto and Web3 growth appeared first on Coin Journal.