Schlagwort: crypto business

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Chainlink shows signs of bearish pressure – Where is the cryptocurrency heading?

A loss of only 2.58% in the past week should throw caution to Chainlink (LINK/USD) buyers. That’s because the slide has seen the cryptocurrency lose a short-term ascending trendline and triangle. The ascending trendline was already giving buyers hope that LINK could finally break to the upside at $8. Are we set for a further slump?

Well, there might be some good news. A popular crypto analyst famous for making accurate altcoin predictions expects big moves for Chainlink and Ethereum. The pseudonymous analyst has 184,900 Twitter followers, and his thoughts should, of course, raise some eyebrows. The analyst says that Chainlink trades within a narrow range and should soon break out with a huge rally. 

As of press time, Chainlink price was at $6.95, slightly below an intersection of price and the ascending trendline. As the analyst mentions, Chainlink has been trading in a tight range of $6-$8 since May. The trading range is indicative that LINK is at a bottom zone. However, the key question is when is the breakout?

Chainlink price shows the token has lost a crucial short-term trendline

$8.0 remains the main resistance zone for LINK. Bulls have tried to break above the level, but the weak sentiment remains the Achilles’ heel. With the sentiment still not improving as much, Chainlink buyers may find it hard to break past $8 in the near term.

Source – TradingView

Technically, LINK trades below a short-term trendline. On the MACD indicator, momentum is weak, suggesting that a further decline is possible.

The latest weakness has also seen LINK fall below the 20-day and 50-day moving averages. The daily chart indicates that the 20-day MA is initiating a crossover below the 50-day MA. The movement could be a welcome note of a bear market for LINK.

What is the possible price for LINK next?

We sure can’t say LINK is bullish based on the above technical pointers. The likely next bottom zone for the cryptocurrency is $6.0. However, we should consider the zone a reference support level as LINK has previously also shown indecision around $6.8.

Bottomline, LINK is attractive at or towards $6.0 and should be our area of interest. At the $6.9 level, we should be mindful that further decline is possible.

Where to buy LINK

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 LINK 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 LINK with Capital.com today

The post Chainlink shows signs of bearish pressure – Where is the cryptocurrency heading? appeared first on CoinJournal.

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Metacask introduces blockchain-based inventory management tool Trakr

Metacask’s Trakr is a blockchain-powered inventory management and asset tracking solution, the first such fully integrated system for the spirits industry.

Metacask, a leading marketplace for spirits-backed NFTs, has launched Trakr, the first blockchain-based solution designed to simplify inventory management for producers and brands within the spirits industry.

Trakr’s technology is set to make it easy for companies and brands to not only manage their inventory, but also handle asset tracking and marketing leveraging blockchain technology.

With the solution, users are set to access the best of digital documentation in an industry that prides itself on quality. Now producers and brands can track products from grain to bottle, with decentralised records of every process of a premium spirit’s production – from raw materials through refining and distribution among other supply chain processes.

“We’ve designed Trakr with the spirits industry in mind,” said Nimantha Siriwardana, co-founder and CTO of Metacask.

“It’s an opportunity to streamline supply chain processes, save costs, and maximize operational efficiencies. On top of that, it’s a chance to show customers that are interested in a specific bottle or cask everything from the information that the harvester gathers down to the unique label designed for the item,” he added.

Eliminating traditional solutions’ ‘siloed’ approach

The system will offer data traceability in real time, adding to the overall authenticity and transparency of the processes, a factor that’s removing legacy solutions siloed approach.

Instead of distinct divisions for inventory management, asset tracking, and marketing, Trakr offers an end-to-end solution that both eliminates the walled gardens and also streamlines the whole process.

“The amazing part is that this solution is so versatile, any luxury goods business can use it to improve transparency between stakeholders and their consumers. It’s a chance to truly revamp the way products are managed from start to finish, even beyond the spirits industry,” Siriwardana noted.

According to Metacask, Trakr’s automation is key to compliance since it eliminates manual reporting to allow for easy monitoring of the supply chain processes.

For the technology itself, Trakr taps into smart digital identity technology, with assets linked on-chain and via near-field communication (NFC) chips.

Metacask launched in 2021, offering a premier marketplace that allows users to buy, collect and sell casks and bottles from leading spirits brands via NFTs. 

On the platform, users do not just get the NFTs as a digital title of deed for the purposes of ownership and provenance – they can also leverage these for price discovery.

The post Metacask introduces blockchain-based inventory management tool Trakr appeared first on CoinJournal.

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Is AAVE token a good crypto to buy today?

Aave price has been in a strong bullish trend in the past few weeks as demand for blue-chip DeFi tokens has risen. It surged to a high of $83, which was about 25% above the lowest level this month. As a result, its total market cap has grown to more than $1.15 billion, making it one of the biggest DeFi tokens in the world. So, should you buy Aave?

Is Aave a good buy?

Aave is one of the biggest DeFi protocols in the world. It is a non-custodial platform that makes it possible for people to borrow and provide liquidity. While Aave is primarily an Ethereum platform, it also operates in other chains like Avalanche, Optimism, Polygon, Arbitrum, Fantom, and Harmony. 

According to DeFi Llama, Aave has a total value locked (TVL) of more than $5.13 billion. Including the total borrowed, staking, and pool2, the TVL is over $8.22 billion. This is a substantial amount since Aave was started just a few years ago.

The most recent crypto news was that Justin Sun decided to withdraw about $100 million worth of USDT tokens from the network. This withdrawal was likely connected to a recent ba of Justin Sun for dealing with Tornado Cash. Tornado was sanctioned by the American government because of its privacy features.

Analysts believe that Aave is a good coin to invest for two main reasons. First, the recent crypto crash has stress-tested the network to the core. This means that it has a higher probability of survival compared to other smaller platforms. 

Second, the upcoming yield-generation stablecoin will likely be a positive catalyst for the network. The coin, known as GHO, will be used to improve features provided by the lending platform. In addition, it will be offered to users to allow them to mint the token against supplied collateral.

Aave price prediction

The daily chart shows that the AAVE price has been in a strong bullish trend in the past few weeks. As it rose, it managed to move above the important resistance level at $80.43, which was the highest level since October 6.

Aave has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved above the overbought level. Therefore, Aace will likely continue rising as bulls target the next psychological level at $100. A drop below the support at $80 will invalidate the bullish view. 

How to buy AAVE

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 AAVE 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 AAVE with Capital.com today

The post Is AAVE token a good crypto to buy today? appeared first on CoinJournal.

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Much-awaited Aptos cryptocurrency off to a rocky start: here’s where to buy Aptos

Aptos Labs’ newcomer cryptocurrency Aptos (APT) was off to a rocky start as its value continues to drop. Aptos price plunged further today in its debut on major crypto exchanges in a move seen as its welcome to the ongoing crypto winter.

Coinbase, FTX, OKX, Huobi, and Binance were among the first exchanges to open spot trading for APT at 1:00 UTC Wednesday.

In a dramatic turn of events, the token’s price had already dropped 30% since its launch to the time it was being listed on Coinbase at about $9. It then dropped almost immediately by a further 50% to trade at a daily low of $6.69. At press time, the coin was trading at $8.31 According to Coinmarketcap.

To help traders who want to jump onto Aptos at its current low price, Coinjournal has prepared a brief guide on where to buy the APT token.

To find out more, please continue reading.

Where to buy Aptos cryptocurrency

What is Aptos (APT)?

Aptos (APT) is the native cryptocurrency of the newly launched Aptos Autumn blockchain that was launched by Aptos Labs on October 17, 2022.  

Aptos Labs were the creators of the failed Diem stablecoin project that Meta Platforms Inc (formerly Facebook) had attempted to launch sometime back. Other products that Aptos Labs has developed to help users in We3 include the PetraWallet, AptosNames, and Aptos Explorer.

Despite the Aptos Autumn blockchain starting off to a controversy about its tokenomics which the team has spent much of the post-launch time dispelling, the team is also working to integrate the blockchain with a number of new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.

Should I buy APT today?

A majority of the crypto community has very high hopes for the newly launched Aptos blockchain and its Aptos (APT) token. Therefore, if you are looking to invest in a newly launched token at a low price, APT could be a good choice now that its price has plunged since its launch.

However, you should proceed with caution owing to the high volatility nature of cryptocurrencies and the fact that there are concerns about APT’s tokenomics and allegations about its processing speeds being lower than previously anticipated.

Aptos price prediction

It is difficult to give a precise Aptos price prediction and analysts expect the token to drop further in the coming days. However, the majority of investors are bullish on the cryptocurrency.

Aptos social media trends

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Immutable X down by 6% despite Nifty Gateway partnership: will it recover soon?

Immutable X partnered with Nifty Gateway a few hours ago, but that hasn’t been enough to push IMX higher in the short term.

IMX, the native coin of the Immutable X network, is down by more than 6% in the last 24 hours. The poor performance comes despite Immutable X announcing a major partnership.

The Immutable X team announced a few hours ago that it had partnered with Nifty Gateway, an all-in-one platform that empowers users to buy, sell, and store digital art and collectibles.

This latest cryptocurrency news means that Nifty Gateway is the first chain added outside of Ethereum that offers a premium and frictionless trading experience to the web3 gaming space on the Immutable X network. 

IMX’s poor performance also comes as the broader cryptocurrency market losses some of the gains it had accumulated earlier this week.

The broader market has lost more than 1% of its value today, with the total crypto market cap now at $925 billion.

Bitcoin is down by more than 2% in the last2 4 hours and is now trading at around $19,200 per coin.

Key levels to watch

The IMX/USD 4-hour chart is bearish, as Immutable X has been underperforming over the last 24 hours.

IMX/USD Chart By TradingView

The MACD line has been below the neutral zone for more than a month now, indicating that the bears have been in control for a while.

The 14-day relative strength index of 30 shows that IMX could soon enter the oversold region.

At press time, IMX is trading at $0.594 per coin. If the bearish trend continues, IMX could drop below the first major support level at $0.5492 before the end of the day.

With the broader market in a bearish state, IMX could record further losses over the coming hours and likely drop below the $0.515 support level for the first time in months. 

Where to buy now

Huobi

Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.

Buy IMX with Huobi today

The post Immutable X down by 6% despite Nifty Gateway partnership: will it recover soon? appeared first on CoinJournal.