Schlagwort: crypto business

Injective Protocol INJ/USD is a little-known Ethereum-based DEX. The network claims to be an open and interoperable smart contract platform. It is optimised for DeFi applications, an area touted as monumental in the growth of decentralised finance. The DEX uses the Cosmos-backed L2 sidechain for faster speeds, decentralisation, and connection to the Ethereum chain.

Injective provides advanced smart contract features. They include forex synthetics, cross-chain margin trading, derivatives, and futures. The DEX aims to eradicate barriers that limit access to the DeFi sector. It also removes gas fees and ensures high transaction speeds for limitless trading.

INJ token powers the Injective network. It helps in governance and ensures the security of the DEX. The token also enables derivatives collateralisation and is used to reward the market makers.

While the Injective Protocol has been in the market since 2018, it has attracted less attention. That’s partly because it ranks lowly at #159 on CoinMarketCap. Its market cap is only $135.6 million.

INJ eyes a crucial breakout after double-digit weekly gains

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy INJ with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy INJ with KuCoin today

Considering price data, INJ hit $27 last year before the market crash. The token’s low in the year remains at $1.13, but recent recoveries have taken the token to $1.8. Are we set for an explosive move?

Source – Trading

The daily chart outlook is positive for the Injective Protocol token. While the cryptocurrency faces rejection at the $2 level, momentum is strong from the MACD indicator. 

The token has attempted a breakout at $2 multiple times. That suggests that buyers are gathering momentum. On the downside, INJ has rejected a decline below $1.74 since August. 

Should you buy INJ

While investing in INJ at the moment is premature, a potential breakout would be a win for bulls. Investors should buy on a breakout or further lower on the current correction.

The post What is the Injective Protocol, and why is it an exciting watch? appeared first on CoinJournal.

Stellar Lumens XLM/USD trades at key resistance of $0.126. However, momentum is building, with key technical indicators pointing to a potential breakout. According to the CoinMarketCap data, Stellar Lumens has added nearly 10% in the past one week. The gains are the highest in the week after Ripple’s XRP. 

LunarCrush AltRank™ places XLM and XRP as potential bullish movers. According to a tweet on October 8, XLM, alongside XRP, has a low AltRank. The ranking is interpreted as a sign of a bullish move. Crypto analytics firm DYOR.net also recognises XLM among the top digital assets with potential bullish trends.

XLM trades at resistance as bullish momentum build

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 Disclaimer

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 Disclaimer

Source – TradingView

On the daily chart, XLM is attempting to break above the resistance. In fact, XLM is retesting the resistance after unsuccessfully dislodging it last month. The token remains supported by the 20-day moving average and 50-day moving average. A 20-day MA crossover above the 50-day MA confirms a bullish momentum.

If we turn to the MACD, the indicator is in the bullish zone. A growing divergence of the oscillator and the signal line indicates that momentum is building up for XLM. With momentum building at the resistance, the odds are for a breakout rather than a correction.

Should you buy XLM now?

XLM remains on a potential breakout. The fundamentals and the technical align, reinforcing a bullish view. Should the cryptocurrency break to the upside, XLM would move higher to find the next resistance at $0.148.

Currently, investing in XLM at the key level is not a good idea. Wait for a breakout and assess the trade. Potentially, the inflation data on Thursday could drag markets and force a correction. Aside from the market dynamics, XLM should be on the investors’ watch list.

The post Stellar Lumens makes a bullish statement. Why do you need to watch the token? appeared first on CoinJournal.

• Tron has gained 3% in the past day as the crypto market opens lower.

• The network’s surging transactions are partly the cause of the uptick.

• The token, however, remains vulnerable to the overall market sentiment.

TRON TRX/USD is up 3% in the past 24 hours and 4% in the past week. The token is trading for $0.064, the highest gain among the top 15 cryptos. Could it be readying for better gains when crypto hits full recovery?

Several factors are putting the smart contract platform on the winning side. One of them is the surge in transaction volumes. According to data from Tronscan, Tron’s transactions surpassed 4 billion on October 10.

Besides, its total value locked (TVL) is up 2% in the past day at $5.71 billion. Similarly, the number of accounts opened on the dApps network is rising. The figure has reached 115 million in the past two months.

Part of the positive sentiment is the rising developer interest. The same could be due to the network transaction fee reduction. Since then, Tron has seen steady scalability.

Last on the fundamentals is Justin Sun’s rumoured acquisition of Huobi Global. The entrepreneur is alleged to be the actual buyer of the crypto exchange. It is also believed that the purchase was closed with the help of FTX founder Sam Bankman-Fried.

TRON moves on an uptrend after finding support at $0.05

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 TRX with eToro today Disclaimer

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 TRX with Capital.com today Disclaimer

Source: TradingView

Technically, TRX is on an uptrend. From the daily chart above, the Fibonacci retracement levels are $0.0062 (23.6%), $0.063(38.2%), $0.064(50%), and $0.066(61.8%). The swing high is at $0.07, while $0.059 is the swing low. Further, despite the fact that the RSI is at 64, there is adequate space for more upside.

Concluding thoughts

TRON is trending on a clear upside. Based on the Fibonacci retracement levels, $0.066 is the next level to watch for a possible retracement.

The current uptrend is a potential bullish reversal sign. However, much as Tron has strong fundamentals, the overall crypto sentiment is a significant factor.

The post Tron continues to push higher. Are these bullish reversal signs? appeared first on CoinJournal.

LUNC, the native token of the Terra Classic network, is up by nearly 5% in the last 24 hours and is outperforming some of the other leading cryptocurrencies.

LUNC, the native token of the Terra Classic network, is the best performer amongst the top 50 cryptocurrencies by market cap so far today. Terra Classic is the revamped project of the now-defunct Terra. 

The coin has added nearly 5% to its value in the last 24 hours, outperforming the other major cryptocurrencies like Bitcoin and Ether.

There is no apparent catalyst behind this latest positive performance, as LUNC is recovering from a bearish run it suffered last week. In the last seven days, LUNC has lost more than 7% of its value.

LUNC’s positive performance comes as the broader cryptocurrency market struggles. The total crypto market cap has dropped below $950 billion after the market lost around 1% of its value so far today. 

Bitcoin, the world’s number one cryptocurrency, continues to trade below $20k and is down by less than 1% so far today. Meanwhile, Ether continues to trade above $1,300, despite losing less than 1% of its value in the last 24 hours.

Key levels to watch

The LUNC/USDT 4-hour chart has turned positive, as Terra Classic has been performing well over the last 24 hours. The technical indicators show that LUNC is recovering from last week’s losses.

LUNC/USDT Chart By TradingView

The MACD line has crossed into the positive zone, indicating bullish momentum. The 14-day relative strength of 54 shows that LUNC is now out of the oversold region after performing poorly last week.

At press time, LUNC is trading at $0.0003456 per coin. If the positive trend continues, LUNC could surge past the first major resistance level at $0.0004338 before the end of the day.

However, LUNC would need the support of the broader crypto market to move past the second major resistance level at $0.00052247 in the near term.

Where to buy now

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LUNC

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.

The post Why is Terra Classic’s LUNC outperforming the other top 50 cryptocurrencies today? appeared first on CoinJournal.