Schlagwort: crypto business

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Stellar Lumen price below $0.120: Where next for XLM?

Stellar Lumen (XLM) is up by more than 2% in the last 24 hours as the broader cryptocurrency market continues its positive start to the week.

XLM, the native coin of the Stellar Lumen blockchain, is up by more than 2% so far today. The coin is currently trading at $0.1124 at press time.

XLM’s performance aligns with that of the broader cryptocurrency market, which is also up by more than 2% in the last 24 hours. However, it has failed to surge past the $0.120 resistance level in recent weeks and could remain there as we head into the last few days of the month. 

What is driving Stellar Lumen’s price higher today?

XLM has been performing well over the last 24 hours, aligning with that of the broader cryptocurrency market. It is up by more than 2% in the last 24 hours and is underperforming against Bitcoin and Ether, the two leading cryptocurrencies by market cap.

Bitcoin is up by more than 4% today and is trading above $20k, while Ether has added more than 10% to its value and currently stands at $1,453. 

XLM is not rallying despite the Stellar Development Foundation (SDF) announcing a $5 million Enterprise Fund investment in Wave, an African mobile money app that endeavors to make Africa the first cashless continent.

What’s the outlook for the Stellar Lumen price?

XLM could rally higher over the coming hours despite underperforming against Bitcoin and Ether. 

At press time, XLM is trading at $0.1124. However, if the broader cryptocurrency market continues its positive start to the week, XLM could rally toward the $0.120 resistance level before the end of the week. 

Stellar Lumen technical analysis

The XLM/USD 4-hour chart is still bearish despite Stellar Lumen performing well over the last 24 hours. The technical indicators show that XLM’s price action is improving.

XLM/USD Chart By TradingView

The MACD line remains below the neutral zone but is slowing moving higher, indicating that the bulls are slowly taking control. 

The 14-day relative strength index of 56 also shows that XLM is no longer in the oversold regions and could soar higher soon.

If the bulls remain in charge, XLM could surge past the first major resistance level at $0.1169 before the end of the day. 

However, XLM would need the support of the broader crypto market to cross the second major resistance level at $0.120 for the first time in three weeks. 

How to buy Stellar Lumen?

Follow these simple steps to buy Stellar Lumen:

Step 1: Open an eToro account: 

Visit the official eToro website and open an account within a few minutes. 

Step 2: Fund your account:

Fund the newly-opened eToro account with your local fiat currency. You can deposit as much as you desire. 

Step 3: Start trading Stellar Lumen:

You can immediately start trading Stellar Lumen against a host of other cryptocurrencies like Bitcoin or against fiat currencies like GBP or USD.

Where to buy Stellar Lumen now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy XLM with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy XLM with Capital.com today

The post Stellar Lumen price below $0.120: Where next for XLM? appeared first on CoinJournal.

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Bitcoin ATM operator RockItCoin announced acquisition of Tao Bitcoin

Bitcoin ATM operator RockItCoin has today announced the acquisition of Tao Bitcoin, a regional ATM operator that operates about 56 machines most of which are located in the United States.

According to RockItCoin, the new acquisition is part of its strategy to find value and cooperation among smaller and regional players within the Bitcoin ATMs space. After the acquisition, the ATMs operated by RockItCoin are now about 1,900 machines across 44 US states.

According to the president of RockItCoin Ben Phillips, the company is likely to acquire more players in the coming months. Ben said:

“Where costs are increasing for many of the regional players, our existing networks, relationships and operations are poised for scalability.”

The issue of additional acquisitions was also echoed by the RockItCoin CEO and founder Michael Dalesandro who said:

“We are constantly on the lookout for ways to expand our footprint while continuing to serve our customers with convenient physical locations where they can safely and efficiently buy and sell cryptocurrency.”

Tao Bitcoin ATMs to be rebranded

Following the acquisition, Tao Bitcoin’s ATM machines will be rebranded to reflect RockItCoin.

According to Tao Bitcoin founders, John Taylor and Andrew Arterburn, Tao Bitcoin analyzed several offers before settling on the RockItCoin deal. The founders said that they settled on RockItCoin because “values closely aligned with our own.”

The post Bitcoin ATM operator RockItCoin announced acquisition of Tao Bitcoin appeared first on CoinJournal.

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IOTA price forecast: Will this fallen angel ever rebound?

The IOTA price has been in a consolidation phase in the past few days as cryptocurrencies recoiled. It was trading at $0.2468, where it has been in the past few weeks. This price is about 25% below its highest level in September. IOTA has a market cap of more than $691 million, making it the 63rd biggest cryptocurrency in the world. 

Is IOTA a good buy? 

IOTA is a leading platform built on top of technology known as Tangle. Tangle is a distributed ledger technology (DLT) that offers everything that blockchain offers and more. Tangle is an open, feeless, and highly scalable protocol that is designed to support transfer of value. 

A DLT is a network of nodes that replicate, share, and synchronize digital data and value spread across many different locations. There is no central administrator, unlike in centralized databases. 

Some of the top features of IOTA’s tangle network are that it is scalable, frictionless, feeless, highly secure, standardized, flexible, and is open source. 

IOTA came in the spotlight recently when the developers launched Shimmer Network. Shimmer is a smart contract platform that aims to compete with leading blockchains like Ethereum, Solana, and Polkadot. Shimmer’s token is known as SMR and has a market cap of more than $103 million. 

Shimmer has been adopted by some developers in the past few weeks. Some of the top applications in its ecosystem are Amnesia Cash, AuditOne, Camels DAO, Fiesta Family, and HiFi Gaming Society among others. 

IOTA price has retreated recently as investors react to the latest evaluation of the Tangle 2.0. The report showed that the platform was extremely powerful that attackers could not break. 

Still, analysts believe that IOTA and Shimmer have a long way to go to compete with the likes of Solana and Ethereum.

IOTA price forecast 

The four-hour chart shows that the IOTA price has been in a strong bearish trend in the past few weeks as the enthusiasm of Shimmer faded. 

As it dropped, the coin formed a descending channel shown in black. The coin has managed to move above the upper side of the falling channel. It has moved slightly below the 50-day and 25-day moving averages. 

The coin has also formed a bullish divergence pattern. Therefore, the coin will likely remain in a bearish trend in the coming days as sellers target the next key support level at $0.2362.

How to buy IOTA

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UK’s NFT plans still on course, officials say

  • UK Prime Minister Rishi Sunak, while in office as the Chancellor of the Exchequer in April, asked the Royal Mint to create a government-backed NFT.

The Royal Mint, the UK’s official coin maker, has confirmed plans for a government-backed non-fungible token (NFT) remain in place, according to a Financial News report published on Tuesday.

Per the publication, officials at the Royal Mint confirmed the NFT plan was on course despite challenges such as the bear market crash that hit cryptocurrencies and the exit of several prominent figures at the HM Treasury.

The Royal Mint’s statement was in response to a Freedom of Information Act request, the FN report stated.

UK prime minister is ‘crypto-friendy’

In April this year, then Chancellor of the Exchequer Rishi Sunak asked the Royal Mint to work on a UK-backed NFT, with plans to issue the token by summer. The announcement was part of a broader push to make the UK a ‘crypto hub’, with several crypto-friendly officials at the Treasury and in parliament helping to advance the agenda.

But Sunak was among top-level government officials to quit in July this year as former Prime Minister Boris Johnson’s government crumbled.

It appeared the then Finance Minister’s resignation had thrown a spanner into the NFT works, but things have taken a sharp turn and Sunak is now the UK prime minister.

Industry observers say the entry of a crypto-friendly figure at 10 Downing Street could be a big win for crypto in the country. 

NFTs are set to bounce after the lull occasioned by the crypto bear market, and as Galaxy Digital recently highlighted, creators earned over $1.8 billion in royalties from Ethereum-based NFTs.

As CoinJournal reported in July, even the English FA rolled out plans for its own NFT launch, amid broader adoption of the technology across the globe.

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Dogecoin holds onto support. What is the likelihood of a bullish reversal?

Dogecoin DOGE/USD is trading for $0.05979, a 1.28% gain in the past day and 0.75 % in the last week. The uptick could be due to Dogechain, a smart contract platform inspired by the canine-themed token. 

Dogechain DC/USD is up 25% in the past day and 200% in the last week. DC, though distinct from Dogecoin, could also be behind DOGE trading volumes. The volumes increased 37% to $216,705,178 in the period. Elsewhere, although the excitement around Dogecoin seems to have died, Elon Musk’s Twitter deal could revive the blockchain. 

The takeover bid, which has been marred with legal tussles, is expected to rejuvenate DOGE. Earlier in the undertaking, Musk had hinted at the possibility of using DOGE in Twitter transactions.

Lastly, the Dogecoin mining hash rate is up again. It peaked at a seven-month high last week. The metric, which is the computing power for minting crypto, was reported at 815 TH/s, according to Coinwarz. The trajectory is poised to pump the price of the digital asset. Besides the positive sentiment, DOGE is at the lower end of consolidation.

Doge holds onto support amid consolidation

Source: Tradingview

From the daily chart above, DOGE/USD has bounced off the support but remains in a consolidation. The pattern of a high of $0.065 and a low of $0.0.0578 has remained so since September 6. The speed and price change momentum indicator, RSI, is close to the neutral level at 46. Similarly, the MACD shows a weak signal, almost close to neutral.

Concluding thoughts

Despite the meme token holding on to the support, there is a minimal chance of a bullish reversal. The key indicators support the argument – all show a low momentum. The sentiment can, however, change at any price above the resistance. Even so, the momentum indicators should turn bullish to welcome any buy entry.

Where to buy DOGE

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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