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Santa rally brings decent gains for Kadena (KDA) – can it hold the momentum?

The Santa rally that we have seen in crypto over the last few days has lifted most coins. Kadena (KDA) has not been left behind. The chain, which hopes to compete with Ethereum, has soared. But can the coin maintain this momentum, and where will it go next? Well, here are some highlights first.

  • Kadena (KDA) is on bullish momentum at the moment and has posted 7-day gains of nearly 55%.

  • At the time of writing, the coin was trading at $16.07, up 16% in intraday trading and with a market cap of around $2.6 billion.

  • Kadena (KDA) is also seeing surging 24-hour trading volume. At press time, trade volumes over 24 hours were up 83%.

Data Source: Tradingview.com 

Kadena (KDA) – Price action and analysis

The lift that we have seen this week as far as Kadena (KDA) goes is not surprising. First, the broader crypto market has posted gains during the Santa rally. Secondly, alternative chains to Ethereum have seen a major uptick in recent days not just in the price action but also in trading volume. 

Just like Kadena (KDA), coins like Solana (SOL), Polkadot (DOT), and Avalanche (AVAX) are all seeing massive 7-day gains. It’s not evidently clear if Kadena (KDA) can surge beyond $25 and reclaim its November highs. But in the short term, we could realistically see this uptrend pushing KDA above $20.

Should you buy Kadena (KDA)

Well, if you are thinking of long-term value, then Kadena (KDA) is a good buy. In fact, the coin is trading way below its all-time highs for the year, and as such, it still offers a decent dip to get in. 

Also, the protocol has added several new features on its platforms, including the ability to yield farm on Ethereum based decentralised exchanges. With the increased utility, the value of Kadena (KDA) is going to increase over time.

The post Santa rally brings decent gains for Kadena (KDA) – can it hold the momentum? appeared first on Coin Journal.

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Fantom (FTM) has reported explosive growth in the past week – Here is why you should buy

Fantom (FTM) is currently on an explosive growth uptrend. The token has in fact gained 72% over the last 7 days, surging well beyond analysts‘ estimates of around $2. At the time of writing, FTM was trading at $2.33, and there is still a lot more to come. Besides, other underlying fundamentals are looking quite positive. Here are some highlights:

  • Fantom (FTM) is the second-best 7-day performer among the top 40 cryptocurrencies by market cap, coming only second to the NEAR protocol which is up almost 80%.

  • Fantom (FTM) has also seen a surge in Total Value Locked (TVL) this week, ranking only second to Terra (LUNA)

  • The current bullish uptrend has not yet peaked and could still go further before the end of 2021

Data Source: Tradingview.com 

Fantom (FTM) – Price action and analysis

At press time, FTM was trading at $2.33, up about 1.3% in intraday trading. The coin is also up nearly 73% over the last 7 days. FTM has outperformed the entire market by a mile and is also beating its competitors like Solana (SOL) and Avalanche (AVAX) which have also posted decent double-digit gains the past week. 

Also, FTM has swept past all the crucial 50, 100, and 200 DMAs. In fact, we were expecting some resistance around the 200-day moving average, which is around $2.04, but so far, the price action suggests that FTM is likely going to sustain its recent gains above that threshold.

Should you buy Fantom (FTM)

When you look at total value locked (TVL) in FTM, especially over the last week, it is clear that Fantom (FTM) is on the rise. Yes, it would still need to double its TVL to catch up with Solana (SOL) or Terra (LUNA), but still, the future potential is excellent. FTM is an ideal asset for the long-term investor. I’d, however, wait a few days for the current bullish trend to lose a bit of momentum and see if there are any dips.

The post Fantom (FTM) has reported explosive growth in the past week – Here is why you should buy appeared first on Coin Journal.