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Yearn Finance (YFI) loses uptrend momentum and could plunge towards $25000

Yearn Finance (YFI) saw a very decent uptick in December, even as the broader crypto market reported a dip in sentiment. But it seems the coin has lost some of that upward momentum. Although there is still an upside for growth, it looks highly unlimited. YFI could plunge towards $25 000 in the coming days as a result. Here are some of the highlights so far:

  • Despite seeing a bullish surge, YFI has entered a downward spiral, losing nearly 17% over the last 7 days.

  • At the time of writing, YFI was trading at $29,919, down over 10% in intraday 24-hour trading.

  • There appears to be significant bear pressure on the coin, and estimates show a near-term plunge.

Data Source: Tradingview.com 

Yearn Finance (YFI) – price action and analysis

Analysts are becoming increasingly bearish about YFI. There are several reasons for this. First, after recording significant gains in December, the upward trajectory has somewhat stagnated. We were looking to see how long YFI could test the overhead resistance of $33.750 but the coin has since fallen sharply from there and is trading at below $30, 000. 

Also, a look at the chart shows YFI is significantly overbought, leaving very little room for a bullish upside. In fact, the RSI is well into bear market conditions. For this reason, we expect YFI to show some weakness in the price action in the coming days, pushing it well towards $25 000.

Should you buy Yearn Finance (YFI)

Right now, it would be best to wait a bit. The downtrend expected could give investors the chance to buy YFI at a discount. And since this is a promising DeFi project that has superb long-term potential, getting in while the price is low is always highly advised. Just give it a few days and see how the price action plays out.

The post Yearn Finance (YFI) loses uptrend momentum and could plunge towards $25000 appeared first on Coin Journal.

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Institutional adoption of crypto to accelerate in 2022, says Genesis’ Noelle Acheson

Crypto saw astonishing institutional growth in 2021, but Genesis’ Noelle Acheson believes adoption is set to accelerate over the next year.

Noelle Acheson, the head of Market Insights at Genesis Global Trading, expects the next twelve months to see a continuation of institutional growth within the crypto space.

She said this while speaking to Joe Kernen during an interview on CNBC’s “Squawk Box.”

When asked to predict what she thinks will happen in the crypto space next year- whether it be SEC finally approving a spot Bitcoin ETF, major regulatory actions from across the globe, or institutional adoption- she noted that no one would for sure know (what will happen).

However, she says 2021 was very “interesting” and that the industry expects a continuation of institutional growth as seen over the past year.

“We are seeing strong signs of that accelerating over the next year,” she said, adding that these could be direct investments into crypto or through investments into companies building the crypto market’s infrastructure.

3 new unicorns every month!

Acheson says that the crypto space has 65 unicorns, which are startup companies whose market valuation is above $1 billion. She noted that 2021 alone saw 40 crypto-focused companies hit unicorn status, with an average of three new firms hitting the billion-dollar valuation every month.

According to her, such astonishing growth can only lead to more interest in crypto [and blockchain technology]. She says the growth is likely to accelerate interest even as more money flows into the industry.

On „risky but higher returns‘ tokens

Acheson also talked about institutional interest and its visibility in how investment managers are choosing to diversify into crypto.

The former managing director of research at Coindesk told CNBC that the past year saw more institutions add crypto to their portfolios, but more interesting was the move for many of them to go for digital assets outside of the top two in Bitcoin and Ethereum.

She notes that market maturity now offers investors room for choice, which has increasingly seen investors go for risky, but potentially higher returns altcoins. 

These are tokens that represent new technological advancements in the crypto space, which, though she did not mention, would include decentralised finance (DeFi) and non-fungible tokens (NFTs). The metaverse and Web 3.0 tokens are also gaining a lot of traction going into 2022.

The exodus of Bitcoin miners out of China

Acheson also talked about Bitcoin mining and China’s crackdown that saw an exodus of miners into other regions, many of them to the US. She says this was a big development, but adds that it might just have benefited Bitcoin miners in terms of access to financing.

The post Institutional adoption of crypto to accelerate in 2022, says Genesis’ Noelle Acheson appeared first on Coin Journal.

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Top-Ethereum-Ökosystem-Token am 28. Dezember: MATIC, LINK und AXS

  • MATIC, LINK und AXS sind die Go-to-Token für den 28. Dezember.

  • Das Handelsvolumen von Chainlink ist in den letzten 24 Stunden um 17 % gestiegen.

  • AXS verzeichnete in den letzten 24 Stunden einen Anstieg des Handelsvolumens um 36 %.

Polygon ist ein Protokoll sowie ein Framework, das zum Aufbau und zur Verbindung von Blockchain-Netzwerken verwendet wird, die Ethereum-kompatibel sind.

Chainlink ist ein dezentralisiertes Blockchain-Oracle-Netzwerk, das auf Ethereum aufbaut und darauf läuft.

Axie Infinity ist ein NFT-basiertes Online-Videospiel, das auf Ethereum basierende Kryptowährungen verwendet.

Sollten Sie Polygon (MATIC) kaufen?

Am 28. Dezember hatte Polygon (MATIC) einen Wert von 2,641 USD.

Um eine bessere Vorstellung davon zu bekommen, was genau das für den MATIC-Token bedeutet, werden wir seinen momentanen Wert mit seinem Allzeithoch sowie seiner Performance im November vergleichen.

Der Allzeithochwert des MATIC-Tokens war am 27. Dezember, als er einen Wert von 2,92 USD erreichte.

Am 3. November hatte der Token seinen höchsten Wert bei 2,1198 USD.

Sein tiefster Stand des Monats war am 18. November, als der Wert des Tokens auf 1,4795 USD fiel. Hier können wir sehen, dass der Wert des Tokens um 0,6403 USD oder um 30 % gesunken ist.

Vom 18. November bis 28. Dezember stieg der Wert des Tokens jedoch um 1,1615 USD oder um 78 %.

Vor diesem Hintergrund können wir davon ausgehen, dass MATIC bis Ende Januar 2022 einen Wert von 2,8 USD erreichen wird, was es zu einem soliden Kauf macht.

Sollten Sie Chainlink (LINK) kaufen?

Am 28. Dezember hatte Chainlink (LINK) einen Wert von 22,37 USD.

Um eine bessere Vorstellung davon zu bekommen, was genau das für den LINK-Token bedeutet, werden wir seinen momentanen Wert mit seinem Allzeithoch sowie seiner Performance im November vergleichen.

Der Allzeithochwert des LINK-Tokens erreichte am 10. Mai einen Wert von 52,70 USD. Hier können wir sehen, dass der Token an seinem ATH-Wertpunkt um 30,33 USD oder um 135 % höher war.

Wenn wir die Wertentwicklung des LINK-Token im Laufe des Vormonats durchgehen, erreichte der Token am 10. November seinen höchsten Wert bei 38,12 USD.

Sein niedrigster Wert war am 28. November, als der Wert des Tokens auf 23,23 USD fiel. Hier können wir sehen, dass der Wert des Tokens um 14,89 USD oder 39 % gesunken ist.

Mit einem Preis von 22,37 USD ist LINK jedoch ein solider Kauf, da es das Potenzial hat, bis Ende Januar 2022 25 USD zu erreichen.

Sollten Sie Axie Infinity (AXS) kaufen?

Am 28. Dezember hatte Axie Infinity (AXS) einen Wert von 105,38 USD.

Um eine bessere Vorstellung davon zu bekommen, was genau das für den AXS-Token bedeutet, werden wir seinen momentanen Wert mit seinem Allzeithoch sowie seiner Performance im November vergleichen.

AXS hatte seinen Allzeithochwert am 6. November, als der Token einen Wert von 164,90 USD erreichte. Der Wert des Tokens war an seinem ATH-Punkt um 59,52 USD oder um 56% höher als heute.

Wenn wir die Performance des AXS-Token im letzten Monat durchgehen, können wir sehen, dass der Token am 6. November mit 163,48 USD seinen höchsten Wert hatte.

Sein niedrigster Wert war am 19. November, als der Wert auf 123,09 USD fiel. Der Wert des Tokens ist demnach um 40,39 USD oder um 24 % gesunken.

Vor diesem Hintergrund ist AXS ein solider Kauf bei 105,38 USD, da es das Potenzial hat, bis Ende Januar 2022 110 USD zu erreichen.

The post Top-Ethereum-Ökosystem-Token am 28. Dezember: MATIC, LINK und AXS appeared first on BitcoinMag.de.

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Analyst says the 2022 altcoin “Supercycle” is here, highlights 4 top picks

  • Analyst Nicholas Merten says altcoins are ready to rally, with Aave, Uniswap and Yearn.Finance his top picks.

DataDash host and popular crypto analyst Nicholas Merten says he is extremely bullish on cryptocurrency going into 2022, noting specifically that he’s betting on the altcoin market as it hits the so-called “supercycle.”

The analyst says in a YouTube session that historically, Bitcoin has been the leading indicator for altcoins. He points out that altcoins have rallied to mirror the flagship cryptocurrency’s macro price movement, and likewise declined whenever sell-off pressure decimates the Bitcoin market.

Merten says while Bitcoin remains the benchmark crypto, there’s a change in market dynamics that are beginning to show altcoins trend more and more independently of BTC price action.

He notes that Bitcoin remains in largely uncertain territory, even as the market registers more and more interest in various altcoins. With some coins outpacing Bitcoin during the latest correction, the strategist says it’s not just the major coins like Ethereum and Solana that need a second look ahead of the next rally.

Decentralised finance (DeFi) and Metaverse coins are two fast-paced sectors today, and here is where the analyst picks the four altcoins with the potential to skyrocket.

Aave (AAVE), Uniswap (UNI), Yearn.Finance (YFI) and Radix (XRD)

Among altcoins, the analyst is keen on are DeFi’s Aave, Uniswap, and Yearn.Finance. Also on the table is layer-1 protocol Radix.

Merten sees Aave price registering a major breakout to add to its stellar performance against Bitcoin. Currently, the AAVE/BTC pair is capped within a range supported at lows of 0.005727 BTC.

“If we can clear through this range, that’s going to set the foundation for AAVE to probably have another seismic rally,” he said.

As for Uniswap (UNI), the analyst predicts another breakout against BTC, with

Bulls are likely to break above a descending trendline for another 25% or more run against Bitcoin. He says the automated market maker’s recent launch on Polygon adds to the strong fundamental outlook of UNI.

Yearn.Finance is also on the analyst’s radar, a fair-launch DeFi protocol whose governance token YFI has surged over 62% in less than two weeks.

There’s also Radix (XRD), an “early stage” layer-1 protocol that breaks out whenever other projects move higher. Although there remains the possibility of a major correction in such coins, the analyst says XRD is picking momentum as bulls prepare for the next major wave.

The post Analyst says the 2022 altcoin “Supercycle” is here, highlights 4 top picks appeared first on Coin Journal.