Kategorie: Crypto News

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Metacade price prediction amid bullish outlook for Ovr, UBXS

  • Metacade, Ovr and UBXS could benefit from altcoin rally as P2E and RWAs dominate 2024.
  • OVR and UBXS arel targeting $1 and $0.1 respectively.
  • MCADE is signaling a potential upswing as price holds at a key level.

As the crypto market consolidates amid bull market predictions, three altcoins likely to take off big time in coming weeks and months are Metacade (MCADE), Ovr (OVR) and UBXS (UBXS). As UBXS and Ovr prices pick upside momentum, MCADE is signalling a bullish flip as price holds above a key support level.

OVR and UBXS price prediction

OVR and UBXS are trading higher today, with their respective prices up in the past 24 hours. UBXS has posted more gains in the past week, netting over 42% in weekly upside action. Meanwhile, OVR has seen about 8% in upward returns over the same period.

As the market recovers from this week’s dip, the two coins could benefit from a resurgence in play-to-earn (P2E) and tokenization narratives. Experts say the latter is one of the key trends to watch in 2024.  

According to crypto analyst Michael van de Poppe, a rallying altcoin market amid growth in tokenization of real-world assets could help UBXS price. The analyst sees a potential move to the $0.09- $0.13 area.

“The #Altcoin market is going to accelerate some more in the upcoming period, as the cycle just started. #RWA will be one of the core topics and $UBXS is such a project. Held a crucial support level and looks ready for a new impulse towards $0.09 and $0.13,” the analyst posted on his X account.

OVR, the token of the augmented reality (AR) metaverse Over the Reality, could benefit from the rise of P2E, Web3 and metaverse. OVR reached peaked at $3.33 in December 2021. While its 89% off that high, a bounce from current price of $0.34 could see bulls retest recent resistance above 0.74. Bull market targets from will be above $1.  

Metacade price prediction

Metacade price has struggled for upside momentum since hitting highs of $0.02 in November. The blockchain-based gaming platform’s native token MCADE reached the recent peak amid the bullish sentiment that surrounded Metacade’s mainnet launch.

While the milestone and the major partnerships the GameFi project has struck with leading providers continues to drive adoption, the initial buoyance for MCADE price has faded since the 106% gains in a week last November.

Indeed, at current levels below $0.012, Metacade price is down 28% in the past month. It’s also significantly off its all-time high above $0.045 reached in May 2023.

However, play-to-earn (P2E) is expected to see greater traction in 2024 and programs such as Metacade’s Meta Grant could incentivize the community of developers and game studios even more. MCADE could be a bigger beneficiary of this outlook as the gaming platform begins to dominate the space.

MCADE price is likely to bounce off the $0.012 with an altseason providing tailwind impetus. Approval for a first spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) could be the initial trigger of this. 

Short term, Metacade’s native token could explode to above $0.1, while the psychological $1 remains a target.

The post Metacade price prediction amid bullish outlook for Ovr, UBXS appeared first on CoinJournal.

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The explosive growth of cryptocurrencies over the past decade

  • Cryptocurrencies surged from 66 in 2013 to 8,886 in 2023.
  • 2017 marked explosive growth, leading to 2,817 currencies.
  • The market peaked at 7,557 in 2021, later consolidating to 8,886 in 2023.

In the fast-paced world of finance and technology, the last decade has witnessed an unprecedented surge in the popularity and diversity of cryptocurrencies. Beginning with the introduction of Bitcoin in 2009, the subsequent years have seen the emergence of numerous digital currencies, each vying for its place in the evolving landscape.

A new research by CoinJournal.net analysed the data available on Statista in order to get an overview of the incredible growth of cryptocurrencies over the past decade.

Year Number of cryptocurrencies
2013 66
2014 506
2015 562
2016 644
2017 1,335
2018 1,658
2019 2,817
2020 4,117
2021 7,557
2022 9,310
2023 8,886

The Early Years (2013-2016)

In 2013, the cryptocurrency market was in its infancy with a modest 66 digital currencies. Bitcoin, as the pioneer, dominated the scene, setting the stage for what was to come. The subsequent years saw a gradual increase, with 506 cryptocurrencies in 2014 and 562 in 2015. As the technology matured, the number of cryptocurrencies continued to climb, reaching 644 in 2016.

The Cryptocurrency Boom (2017-2019)

The year 2017 marked a turning point, as the cryptocurrency market exploded with a staggering 1,335 digital currencies. This surge was fueled by increased public awareness, growing investor interest, and the rise of ICOs as a popular fundraising method. The momentum continued into 2018 and 2019, with 1,658 and 2,817 cryptocurrencies, respectively. These years were characterised by innovation, competition, and the exploration of diverse blockchain applications beyond just digital currencies.

The Years of Unprecedented Growth (2020-2021)

The cryptocurrency market experienced an unprecedented leap in 2020, with the number of cryptocurrencies soaring to 4,117. The COVID-19 pandemic, financial uncertainty, and the growing appeal of decentralised finance contributed to this remarkable expansion. However, the most remarkable growth occurred in 2021, with a staggering 7,557 cryptocurrencies. This explosive increase can be attributed to the mainstream acceptance of cryptocurrencies, institutional investments, and the broader adoption of blockchain technology.

Consolidation and Adjustments (2022-2023)

As we entered 2022, the cryptocurrency market experienced a shift. While the number of cryptocurrencies continued to grow, reaching 9,310, the pace slowed compared to the previous year. Regulatory scrutiny, market corrections, and a focus on quality over quantity contributed to a more consolidated landscape. In 2023, the number dipped slightly to 8,886, indicating a maturing market where projects were evaluated more critically.

Max Coupland, the director of CoinJournal, comments, “As we reflect on the journey of cryptocurrencies over the past decade, it becomes evident that the market has not only weathered challenges but has also reshaped the financial world. The stage is set for continued evolution, adaptation, and integration into the broader financial system. Cryptocurrencies, having already made an indelible mark on finance, are certain to revolutionise our understanding of money and technology in the years to come.”

The post The explosive growth of cryptocurrencies over the past decade appeared first on CoinJournal.

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Meme Moguls price outlook as Cardano and XRP eye bull market lift

  • Ripple (XRP) price is above $0.57 while Cardano (ADA) is at $0.55.
  • Both altcoins could eye the $1 price level in 2024 as the market intensifies its bullish outlook.
  • Meme Moguls is a new project in presale, currently priced at $0.0027 as interest pushes total raised amount to over $1.4 million.

Cardano (ADA) and XRP (XRP) are two of the top 10 coins by market cap that could rip higher amid the current bull market expectations. The crypto market is also keen on Meme Moguls (MGLS), a new token in presale that has attracted over $1.4 million.   

Which altcoin hits the psychological $1 first – ADA or XRP? Could MGLS outperform post-launch?

XRP price prediction: Can bulls break $1 barrier in 2024?

Ripple scored a major win against the US Securities and Exchange Commission (SEC) in 2023, with XRP declared not a security. While XRP price surged amid the resulting exuberance, the rally faded just above the $0.94 mark in July.

Another upside move collapsed above $0.74 in November. XRP price however remains well above the lows of $0.30 reached in January 2023. 

Although CoinGecko data shows the altcoin’s value has declined 8% over the past 30 days, its gains over the past year currently stand at 66%.

XRP price chart. Source: TradingView 

Ripple’s established presence in the global payments market means further traction for XRP. Also notable is the imminent end to its legal battles with the SEC. Regulatory clarity combined with a confluence of positive market catalysts, including spot ETFs momentum, could be big for crypto, not just XRP.

In this case, a break above $0.74 brings the $1 mark into view and could see XRP target $1.5. The all-time high for XRP/USD is $.40 reached in 2018.

Cardano (ADA) price prediction: $0.70 is a key hurdle

The price of Cardano (ADA) is currently poised above $0.55 as buyers look to recover from this week’s dip in crypto prices amid the spot Bitcoin ETF speculation.  

For Cardano bulls, price needs to hold above $0.55 for upside continuation. If that happens, a break to $0.70 could bring $1 into play. According to crypto analyst Captain Faibik, a bullish pennant suggests a potential 30-40% surge in ADA price.

But with the altcoin having struggled for upside momentum since the breakdown from $0.70 in May 2022, the likelihood of a breakout could rely more on this broader market sentiment. 

Bitcoin’s flip from lows of $41,450 on Wednesday to above $44,000 at the time of writing could help altcoins higher.

Meme Moguls (MGLS): A new 100x token?

Meme Moguls is a project that seeks to bring the benefits of stake-and-earn to the fast-growing meme ecosystem. 

With meme-inspired digital tokens such as Dogecoin, Shiba Inu and Pepe hitting new highs recently, the market can benefit more by tapping into this potential via Meme Moguls.

Powered by the governance token MGLS, Meme Moguls offers a platform from which users can unlock rewards while showcasing their trading prowess. Becoming a mogul on Meme Moguls will see users earn MGLS on top of other perks such as NFTs.

Meme Moguls price outlook

While XRP and Cardano are poised for a potential breakout to the psychological $1 mark, Meme Moguls is a new crypto token likely to outperform in coming months.  

Currently in stage 4 of the ICO, the price of MGLS has increased from $0.0019 to $0.0027. Post presale price movement could see MGLS explode in the second half of 2024, particularly with a successful project launch amid a bull run.

As the meme coin market grows, Meme Moguls’ innovative approach to the sector could see the project dominate a market expected to hit $6.1 billion by 2025.  

Interest in the Meme Moguls presale is high, with more than $1.4 million raised within a few weeks of its launch.

The post Meme Moguls price outlook as Cardano and XRP eye bull market lift appeared first on CoinJournal.

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Celsius set to unlock $470M Ethereum for creditor repayments

  • Celsius, in bankruptcy since 2022, begins unstaking 206,300 ETH ($468.5M) for creditor distributions.
  • Market speculates on a potential ETH “dump,” while some see Celsius’s move as relieving pressure on Ethereum.
  • Earlier focused on Bitcoin mining post-bankruptcy, Celsius faces scrutiny for abrupt strategic shift.

Embattled crypto lending platform Celsius is making waves as it unveils plans to recall and rebalance its crypto assets, particularly Ethereum (ETH), in preparation for timely creditor distributions.

With the platform in bankruptcy court since July 2022, customers eagerly await the return of their funds. This development sheds light on Celsius’s strategic moves and their impact on the crypto market.

Celsius initiates asset shift for timely distributions

Celsius has officially commenced the process of recalling and rebalancing its crypto assets, marking a crucial step in the platform’s journey since filing for Chapter 11 in 2022. The primary focus lies on unlocking Ethereum (ETH) holdings, currently staked for valuable rewards income.

As part of its recovery plan, Celsius is set to unstake a substantial 206,300 ETH, valued at an impressive $468.5 million in today’s market. The objective is to offset restructuring costs and facilitate the much-awaited distributions to creditors. This move aligns with the company’s commitment to providing transparency amid its restructuring process.

Market speculations surrounding Celsius’s ETH unlock

With nearly one-third of the pending ETH withdrawal queue belonging to Celsius, amounting to a staggering 206,300 ETH, market speculations arise. Some express concerns about a potential “dump” of Ethereum on the market, fearing adverse effects on its value. However, contrasting opinions highlight the positive long-term impact, anticipating relief for Ethereum as Celsius navigates its restructuring journey.

This strategic shift also follows Celsius’s earlier announcement of a scaled-back post-bankruptcy strategy, focusing on Bitcoin mining. However, the abrupt change in direction drew displeasure from the presiding judge overseeing the company’s bankruptcy proceedings.

In conclusion, Celsius’s move to unstake a substantial amount of Ethereum signifies a pivotal moment in its efforts to navigate the challenges posed by the crypto contagions of 2022. As the crypto lending platform takes concrete steps toward creditor repayments, the industry watches closely to understand the implications of this significant shift in assets. The liberated Ethereum holds the key to unlocking value for creditors, marking a potential turning point for Celsius in its post-bankruptcy strategy.

The post Celsius set to unlock $470M Ethereum for creditor repayments appeared first on CoinJournal.

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Starknet delegates vote to move v0.13.0 from testnet to mainnet

  • Starknet’s governance committee has announced a vote on the migration of its v.0.13.0 from testnet to mainnet.
  • The Starknet Alpha v0.13.0 was deployed on Goerli and Sepolia testnets in December.

The Starknet Governance Committee announced on January 4, 2023 that a governance vote on the migration of Starknet v0.13.0 from testnet to mainnet was now live.

Apha v0.13.0 migration from testnet to mainnet

According to the platform, the protocol upgrade for v0.13.0 was open to all delegates, who will vote on the proposal for five days between Thursday, January 4 and Monday, January 8, 2023. The third vote is open to anyone with the native STRK token and to delegates.

While the vote is open to those with STRK tokens or are delegates, Starknet says all community members are welcome to contribute via discussion and feedback. The vote will be taken via a snapshot and passed or rejected on a simple majority, the Governance Committee noted in Thursday’s announcement.

Starknet Alpha v0.13.0 is expected to focus on two aspects of the protocol. Primarily, the upgrade is meant to add the new transaction version v3, with features such as support for STRK as the blockchain platform’s gas token. V3 will also look to bring reduced transaction fees on mainnet.

The v0.13.0 was deployed on the Goerli and Sepolia testnets on December 12 and 13, 2023 respectively. 

Community excitement for Starknet has skyrocketed since the project confirmed an airdrop for STRK would be undertaken in early 2024. The project announced a rewards program of 50 million STRK for ecosystem contributors in October. In December, it said it would allocate 10% of network fees to developers.

The post Starknet delegates vote to move v0.13.0 from testnet to mainnet appeared first on CoinJournal.