Schlagwort: crypto analysis

• The XRP coin has bounced back in the past two days.

• Ripple’s open interest has jumped to the highest level this year.

Ripple price has bounced back in the past two straight days as investors buy the dip following last week’s partial victory in the United States. The XRP coin rose to a high of $0.80 on Wednesday even as Bitcoin remained stagnant slightly above $30,000.

Ripple open interest jumps

XRP coin price made a spectacular recovery last week after the partial victory by Ripple Labs as we wrote here. The judge ruled that while Ripple Labs broke the law in 2013, the XRP coin was not a financial security.

That declaration was an important one for the cryptocurrency industry since it came a few weeks after the SEC filed major lawsuits against Binance and Coinbase. One of the common allegation was that the companies were offering unregulated securities, including Ripple.

Therefore, there is a likelihood that the SEC will go slow its lawsuits against cryptocurrencies and exchanges.

Meanwhile, XRP price is rising as investors buy the recent dip and as open interest of the currency rise. Data shows that open interest rose to over $1.1 billion in the past 24 hours. This is the highest that the interest has jumped this year. Interest has jumped by over 21% in the past few days.

Open interest refers to the number of unsettled futures contracts in the market. And a higher number is a sign of increased bets of a financial asset. This explains why the XRP price has jumped sharply in the past two days. As expected, most of this open interest is dominated by two exchanges: Binance and Bitget. 

XRP price prediction

The daily chart shows that the XRP crypto price jumped sharply last week after the court ruling. It jumped and peaked at $0.9267 and then pulled back as some investors started taking profits. Now, the coin has bounced back as these same investors buy the dip. It remains above the 50-day and 25-day moving average while the Relative Strength Index (RSI) moved to the overbought level.

Therefore, there is a likelihood that the coin will continue rising as buyers target the key resistance level at $0.9267. A move below the support at $0.70 will invalidate the bullish view

How to buy Ripple

eToro

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Bitstamp

World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.

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The post XRP price prediction as Ripple’s open interest surges appeared first on CoinJournal.

• Artificial intelligence is the biggest theme in the market this year.

• Most companies have unveiled their artificial intelligence plans.

• Shiba Memu and SingularityNET are some of the best AI coins.

Artificial Intelligence (AI) has become the fastest-growing technology in the world. In the corporate scene, companies like Nvidia, Microsoft, and C3.ai have seen their stocks surge this year. Nvidia, a GPU manufacturer, has seen its market cap surge to over $1 trillion.

Many companies have unveiled their AI plans. Microsoft has launched a suite of AI tools, including Copilot. On Tuesday, the company revealed pricing of these products, with a monthly subscription of Copilot going for $30. Google has launched Bard while Elon Musk has launched xAI. In this article, we will look at the best AI cryptocurrencies to buy.

Shiba Memu (SHMU)

Shiba Memu is a new cryptocurrency that has a lot of potential. Currently in presale, the developers have raised almost $1 million in less than three weeks. This makes it one of the fastest-growing cryptocurrencies this year.

Shiba Memu, as you can see in this white paper, is a cryptocurrency that is at the intersection of two trends: artificial intelligence and meme coins. As the name suggests, the token as inspired by Shiba Inu, the second-biggest meme coin in the world. 

Shiba Memu will have some AI tools. For one, it will be the first crypto platform to use AI to market itself. In this, the network will learn new marketing strategies, create its own press releases, and promote itself across all popular social networks. The goal is to create a platform that is self-reliant and transparent in the market.

All this content will be shown in the intuitive Shiba Memu dashboard. This dashboard will show the performance of its content and identify key trends.

There are three main reasons why Shiba Memu’s token will do well. First, as mentioned, it is in the two popular industries this year. Second, the token has the momentum it needs to become the next big thing. In this, it has raised over $977k within a few days. Finally, it could jump because of the macro element since America’s inflation is falling.

You can buy the Shiba Meme token here.

SingularityNET (AGIX)

SingularityNET is another AI-focused cryptocurrency to buy. AGIX, its ecosystem token, is one of the top-performing cryptocurrencies this year, having gained by over 500%. 

SingularityNET is a Cardano–based blockchain that is creating a platform for decentralized artificial intelligence. Its ecosystem is made up of projects that are changing the industry in a large scale.

For example, there is Rejuve.ai, a platform that is focused on longevity research. It has built a decentralized network of researchers, clinicians, and data contributors. 

Other parts of the network’s ecosystem are Awakening Health, SingularityDAO, Cogito, and Nunet. Cogito is building a new class of digital assets known as tracercoins that leverage risk-weighted reserves and AI-powered stabilization.

SingularityNET is a good AI coin to invest for two main reasons. First, unlike many other cryptocurrencies, it has a real ecosystem that is growing. Second, the token has a proven track record of performance. 

The post Best AI cryptocurrencies to invest in: Shiba Memu, SingularityNET appeared first on CoinJournal.

• Chainlink announced a new plan to expand in the traditional finance industry.

• It unveiled the Cross-Chain Interoperability Protocol (CCIP).

• The coin has formed a double-top pattern on the 4H chart.

Chainlink price rose to a high of $7.32, the highest level since April 26th. At its peak on Tuesday, the LINK token was up by more than 53% from the lowest level in June. It has outperformed other coins like Bitcoin and Ethereum.

Chainlink expands its offerings

Chainlink is the biggest oracle network in the blockchain industry. An oracle is a network that links off-chain data to the on-chain. It is widely used to provide price feeds in decentralized and centralized exchanges.

Chainlink has been growing its ecosystem in the past few years. In June, the developers announced that they had begun testing connecting banks to the blockchain by partnering with Swift.

In a statement on Tuesday, the company unveiled Chainlink’s Cross-chain Interoperability Protocol (CCIP). CCIP is designed to connect traditional financial institutions to the blockchain. The initial blockchains will be Avalanche, Ethereum, Optimism, and Polygon. Early adopters in this testing were Synthetix and Aave.

Therefore, LINK price jumped as investors hope that the network will see more action in the coming months. 

Data compiled by DeFi Llama shows that the network has a total value secured (TVS) of over $21.85 billion. This makes it the biggest oracle provider in the world. The other big oracles are Chronicle, WINKLink, Pyth, TWAP, and RedStone.

Chainlink price prediction

LINK price has been in a strong bullish trend in the past few days. On the 4H chart, the coin has moved above the 25-period and 50-period moving averages. It has also formed an ascending channel shown in black. The price is a few points below the upper side of the channel.

Most importantly, Chainlink has formed a double-top pattern at $7.30. In price action analysis, this pattern is usually a bearish sign. The neckline of this pattern is at $6.50. Therefore, despite the new product launch, there is a likelihood that LINK price will have a bearish breakout.

If this happens, the next level to watch will be at $6.50, which is ~6.50% below the current level. On the flip side, a move above the double-top level of $7.30 will invalidate the bearish view.

How to buy Chainlink

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

Buy LINK with eToro today Disclaimer

Bitstamp

World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.

Buy LINK with Bitstamp today

The post Chainlink price prediction: LINK just formed a double top pattern appeared first on CoinJournal.

• BNB coin has become heavily shorted in the perpetual futures market.

• It has also formed a bearish flag pattern on the daily chart.

Binance Coin has come under intense pressure in the past few weeks as short bets in the futures market increased. BNB token was trading at $244 on Monday, lower than last week’s high of $261. In all, it has dropped by over 31% from the highest level this year.

BNB loses momentum

Most cryptocurrencies jumped sharply last week after the conclusion of the Ripple vs SEC case. BNB coin, on the other hand, remained in a tight range. It jumped to a high of $261.40 and then erased most of those gains.

Binance Coin has remained under pressure mostly because of the ongoing case, which was brought about by the Securities and Exchange Commission (SEC). The SEC accused Binance of committing over 10 crimes, including operating a broker-dealer in the United States without following the law.

It is too early to predict how the lawsuit will develop and how long it will take. Legal experts I have talked to say that the SEC has a relatively solid case against Binance. 

Another reason why BNB price is struggling is a recent report that Binance had fired over 1,000 employees recently. Like other crypto companies, Binance has gone through major challenges because of the crypto winter. 

Despite this, there is a likelihood that the company’s finances are improving as cryptocurrencies recover. Binane has also seen inflows in the past few weeks. According to DeFi Llama, it has had over $2.9 billion in inflows in the past 30 days. Its assets now stands at over $64 billion.

Meanwhile, data shows that many players in the perpetual futures market are short the BNB coin. Data compiled by CoinGlass shows that open interest is weighted heavily towards the short-sellers. In a note, an analyst told Coindesk:

“The sentiment has worsened due to the recent high-profile staff exits, inconsistencies related to BCH withdrawals from Binance.US and the pending Department of Justice case against Binance’s CEO Changpeng “CZ” Zhao.”

BNB price prediction

The daily chart shows that the BNB crypto price has been in a strong bearish trend in the past few months. Most recently, the coin has formed what looks like a bearish flag pattern. In price action analysis, this pattern is usually a bearish sign. 

BNB coin has moved below the 50-day and 25-day moving averages. Therefore, because of the descending flag pattern, the coin will likely have a bearish breakout in the near term. If this happens, the next level to watch will be at $220.

How to buy Binance Coin

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

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Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy BNB with Binance today

The post Binance Coin (BNB) price forms a bearish flag as the plot thickens appeared first on CoinJournal.

Key takeaways

• Chancer has sold more than two million tokens so far in its presale, raising nearly $800,000 in the process.

• Bitcoin continues to maintain its value above $30k as more investors become bullish. 

The cryptocurrency market rallied last week following the news that XRP is not considered a security. Several cryptocurrency exchanges, including Coinbase and Kraken, relisted XRP on their platforms afterwards. 

Bitcoin, the world’s leading cryptocurrency by market cap, continues to maintain its value above the $30k level. This has allowed other cryptocurrencies to experience positive performance. 

Chancer, still in its presale stage, is also setting new records, with nearly $800,000 raised by the team so far. 

Bitcoin maintains its price above $30k

Bitcoin has been trading between the $29k-$31k region over the past three weeks. Following Ripple’s partial win in court, Bitcoin rallied close to the $32k level before retracing towards $29k on Friday.

However, Bitcoin is now trading above $30k once again as investors remain optimistic about the medium and long-term outlook of the market. At press time, the price of Bitcoin stands at $30,165 per coin. 

What is Chancer?

The total cryptocurrency market cap has stayed above $1 trillion for more than a month, indicating that interest in the market remains strong. 

With the market experiencing a pullback following Ripple’s judgement last week, investors might be looking at some new and exciting projects. Chancer is one of the exciting and new projects currently in the cryptocurrency space. 

Chancer is a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live stream betting events. 

In an age where everything is becoming decentralised, Chancer is looking to do the same to the betting industry. Chancer has adopted a decentralised method of betting and online gambling.

Another exciting feature of Chancer is that it allows users to bet on a wide range of events, beyond traditional sports and casino bets. 

The project is in its presale stage, and the first stage is almost over. The team aims to raise $1 million in the first presale stage and has so far raised $794k. The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

According to their whitepaper, Chancer would allow users to enjoy numerous features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

Furthermore, Chancer claims that it wants to solve the problems associated with using bookmakers when betting. Users would be allowed to set up their custom P2P betting markets. 

One of the biggest selling points of Chancer is that users can bet on various activities. It doesn’t matter if it is an official event or not. The bet can range from sporting events and even non-sporting ones amongst friends. 

You can bet on the first one in your group to finish a specific task or to achieve a certain milestone. 

Chancer’s first presale stage is 80% completed

Chancer’s presale event will take place in stages, and the first one is nearly 80% completed. So far, the team has raised nearly $800k.

The development team will use the funds to develop its suite of products. The team intends to carry out 12 presale events, with a target of $15 million. 

CHANCER is the native token of the Chancer ecosystem. At the moment, CHANCER is going for $0.01 BUSD per token.

According to the team, the token will power various activities on the Chancer platform. Users that hold CHANCER can create markets and invest in markets created by other users. 

In addition to that, holding CHANCER would allow users to create, participate in, and profit from their very own predictive markets. 

Currently, Chancer supports numerous wallets for the presale, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

Chancer could be one of the best new projects to enter the market this year. By decentralising the betting ecosystem, Chancer could gain massive adoption over the next few months and years.

If Chancer gains massive adoption, its native token could experience a surge in price in the medium and long term. In addition to that, CHANCER’s price could also rally higher if the broader cryptocurrency market continues its positive performance in the coming months. 

The post Chancer sells over 2 million tokens as Bitcoin’s price stabilises appeared first on CoinJournal.