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Market highlights January 6: Major cryptos plummet, tech firms drag down NASDAQ100

Major cryptos fell sharply over the past 24 hours, reacting to the FOMC minutes release of faster rate hikes. All three major US indices fell heavily on the news that Fed officials are planning faster hikes and a quicker start to bond sales than expected. The NASDAQ100 was hit hardest, falling 3.34%. 

The Fed-driven selloff marks the worst start to a calendar year for tech stocks since the 2008 financial crisis, with a range of tech firms taking US markets lower in the session. Leading the NASDAQ100 lower was MercadoLibre, down 9%, while Datadog fell 7.76% and Moderna was off by 7.65%.

The biggest faller in the SPX500 was Enphase Energy, down 11.82% after Bank of America downgraded the stock from buy to neutral. 

Top cryptos

Solana and Polkadot plunged more than 11%, while Ethereum, BNB, Cardano and XRP fell more than 8%. Bitcoin dropped almost 7% and was trading just above $43,000 at time of writing. Nonetheless, a Goldman Sachs report this week sees Bitcoin potentially doubling to $100,000 within the coming five years.

Polygon lost 15%. It has taken a dive since being pushed to a new all-time high of $2.92 on 27 December. It has since lost over 25% to today’s price of $2.08 following news of a malicious hack on the network in early December.

Top movers

Almost all of the top 100 coins by market cap have lost value today. Metaverse tokens were hit the hardest. The biggest losers are Axie Infinity, Internet Computer, and Loopring with -20%, Elrond, Tezos, Curve DAO, ThorChain, and Compound with -19%, Gala, Arweave, and Kadena with -18%, Hedera, Theta, Nexo, and SushiSwap with -17%, privacy protocol Secret with -16%, and Sandbox, Harmony, BAT, The Graph, Helium, Enjin Coin, Chiliz, Waves, YFI, Algorand, IoTeX, and Velas with 15%.  

At #100, APENFT is the only winner of today with gains of around 3%. Its core businesses include investing in top NFT platforms and artworks, incubating leading NFT artists, sponsoring galleries, organizing art exhibitions or publications, setting up awards to support art creation and criticism, and establishing art collections.

Trending

PAPPAY, a cryptocurrency that can be used for digital purchases and payments on the internet and a tool that generates passive income, soldiers on with gains of 900% today, a level typical of its recent trajectory.

Another winner is AquaGoat.Finance, which gained 8.65% in the last 24 hours. Recognizing the harmful impacts of cryptocurrency mining on the environment, AquaGoat focuses on ocean conversation efforts, helping to offset, mitigate, and potentially reverse the damage done by humans and conventional mining processes of the past, all while generating income for network participants.

The post Market highlights January 6: Major cryptos plummet, tech firms drag down NASDAQ100 appeared first on Coin Journal.

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Football token MetaFootball is crashing, should you buy the dip? Where to buy MetaFootball

MetaFootball bills itself as one of the most comprehensive football management games ever created, designed as a play-to-earn game for everyone who loves football and wants to earn token reflections and NFT while managing their own football team. This guide explains what MetaFootball is, whether it’s worth buying, and the top places to buy MetaFootball now.

Top places to buy MetaFootball now

As MTF is such a new asset, it’s yet to be listed on major exchanges. You can still purchase MTF using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy MTF right now, follow these steps:

1. Buy BNB on a regulated exchange or broker, like Binance ›

We suggest Binance because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your BNB to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the SushiSwap DEX

Head to SushiSwap, and ‚connect‘ your wallet to it.

4. You can now swap your BNB for MTF

Now that you’re connected, you’ll be able to swap for 100s of coins including MTF.

What is MetaFootball?

MetaFootball provides an advantage over traditional fantasy football leagues in that you are compensated in real money for your efforts because you own the cards you collect, win, and trade. In previous fantasy football games, you don’t own any players, so all you get for your time is the possibility to beat the thousands of other players who enter, but with MetaFootball, you get to collect cards (players) that you are given complete ownership of for the rest of your life.

Should I buy MetaFootball today?

Innovative new tokens can be a lucrative investment, but they can reverse gains very quickly. Read price predictions before you make a commitment.  

MetaFootball price prediction

According to CoinCodex, the value of MetaFootball will rise by 22.86% and reach $ 0.0000000089 by January 11. The current sentiment is bearish while the Fear & Greed Index is showing Extreme Fear. MetaFootball recorded 40% green days with price volatility over the last month. Based on their MetaFootball forecast, it’s now a bad time to buy MetaFootball.

MetaFootball on social media

 

The post Football token MetaFootball is crashing, should you buy the dip? Where to buy MetaFootball appeared first on Coin Journal.

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Introducing EverBNB, a BNB reflection token: best places to buy EverBNB now

EverBNB is a BNB reflection token running on Binance Smart Chain. It bills itself as the fastest way to earn BNB. It is trading for $0.0018 with a 24-hour trading volume of $2.3 million. It has lost 3.35% of its value today.

This article has everything you might want to know about EverBNB: what it is, is it a good investment, and the best places to buy EverBNB today if you choose.

Top places to buy EverBNB now

As EVERBNB is such a new asset, it’s yet to be listed on major exchanges. You can still purchase EVERBNB using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy EVERBNB right now, follow these steps:

1. Buy BNB on a regulated exchange or broker, like Binance ›

We suggest Binance because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your BNB to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the SushiSwap DEX

Head to SushiSwap, and ‚connect‘ your wallet to it.

4. You can now swap your BNB for EVERBNB

Now that you’re connected, you’ll be able to swap for 100s of coins including EVERBNB.

What is EverBNB?

Reflection tokens are cryptocurrencies that reward holders by employing a mechanism in which transactions are taxed and a percentage of the tax charged is redistributed to holders of the token. Also, since holders are rewarded with new tokens, the mechanism incentivises investors to hold onto their tokens long-term. With EverBNB, you hold tokens and get rewarded in BNB on every transaction. With the auto-claim feature, you will receive BNB automatically in your wallet.

The tax distribution is as follows: 5% to holders, 5% buyback, and 3% liquidity.

Should I buy EverBNB today?

EverBNB has its pluses and minuses. The mechanism of reflection tokens increases the number of ways investors can earn in DeFi. Holders can earn rewards on their tokens while using them for staking and in other ways to earn passive income. On the other hand, most projects currently utilising reflection mechanisms are meme coins and don’t have a sound business model. The high transaction fees of most reflection tokens make them a bad choice for transactions.

EverBNB price prediction

Digital Coin Price makes a positive prediction. EverBNB will increase to $0.007 as a bare minimum in the future. The highest price of EverBNB in the future will be up to $0.008. A year from now, 1 EverBNB can go up to $0.003, which is almost twice what it’s currently worth.

EverBNB on social media

 

The post Introducing EverBNB, a BNB reflection token: best places to buy EverBNB now appeared first on Coin Journal.