Schlagwort: crypto business

One of the best indicators of where money is going in the crypto space is to look at the activities of institutional investors. These are players with big money, and their actions directly impact the market’s potential direction. That’s why the recent moves by Fidelity and Bitwise spell good tidings for the Web 3.0 space. 

Bitwise has announced that it is launching a Web 3.0 ETF. The ETF will trade under the ticker BWEB and invest in more than 40 companies, all within the Web 3.0 space. On its part, Fidelity is launching the Ethereum Index Fund, which is part of the organization’s push toward investing in the Ethereum ecosystem. 

As this news filters into the market, Web 3.0 cryptocurrencies will likely see a pump and could end the week among the top performers. To take advantage of the potential of Web 3.0 cryptocurrencies, below are some of the best to watch now.

The Graph (GRT)

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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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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.

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The Graph (GRT) is a web 3.0 cryptocurrency within the fast-growing Ethereum ecosystem. The Graph is designed to make querying the Ethereum blockchain easy, which is essential if Web 3.0 is to gain traction. Besides its critical role in Web 3.0, The Graph is currently trading at record lows after a heavily bearish 2022 year-to-date. As such, there is an incentive for traders to jump into GRT, a factor that could see this cryptocurrency trade in the green soon.

 Polkadot (DOT)

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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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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.

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Polkadot (DOT) is one of the best Web 3.0 cryptocurrencies in the market today. That’s because it is designed for scalability, a critical factor if Web 3.0 is to replace Web 2.0. Now that institutional money is showing an interest in Web 3.0, Polkadot stands out among the cryptocurrencies that are likely to increase speculator interest. 

On top of that, Polkadot is currently trading at a significant low from its most recent highs. As such, now that there is renewed interest in Web 3.0 thanks to institutional money, FOMO could set in the short term. Already, trader interest in Polkadot is rising, as seen by the rising buying volumes.

Ethereum (ETH)

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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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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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Ethereum (ETH) is the king of smart contracts and supports the largest Web 3.0 ecosystem in crypto. So significant is Ethereum that it is impossible to talk about Web 3.0 without mentioning Ethereum. While Ethereum hasn’t shown much activity even after the Merge, the odds are that it could lead the way now that institutional money is starting to show an interest in Web 3.0. 

The most significant factor likely to give Ethereum a price push in the short term is the move by Fidelity to launch an Ethereum Index Fund. This move creates the impression that institutional money believes in Ethereum and is a real reason to drive FOMO. The fact that Ethereum is currently trading at record lows will also likely add to the excitement around Ethereum in the short term.

The post Cryptos to watch as Fidelity and Bitwise turn to Web 3.0 appeared first on CoinJournal.

• Dogecoin sends mixed signals amid the latest market recovery
• The cryptocurrency gained 6% on Wednesday amid high social interest
• DOGE looks set to reclaim the $0.07 level after intraday gains of 6%

Dogecoin DOGE/USD continues to send mixed signals despite recent recoveries. A bull signal was after breaking above a short-term descending trendline that sent the meme token to $0.068. The ascend was quickly followed by a bearish pin bar below the crucial resistance.

Typically, pin bars communicate price rejection. A bearish pin bar will be characterised by a long wick on the upper side and a small body. It occurs when the price closes significantly lower than the open. That’s exactly what happened to DOGE, as the price hit $0.068. The formation of a bearish pin bar pushed the price down to $0.060.

However, on Wednesday, DOGE rose by 6%, recovering from the $0.060 bottom. LunarCrush ranked the cryptocurrency in the first position by social interest. That came as Elon Musk hinted at proceeding with the Twitter acquisition. Investors have been speculating that the “Doge father” will allow the meme token as payment.

Dogecoin price outlook amid ongoing correction

Source – TradingView

Keeping the breakout on the descending trendline in mind, DOGE should be considered bullish. The proposition arises because the meme token is yet to break below the key support at $0.060. 

Besides, following renewed strengths, DOGE bulls have overcome a slide below the support. The formation of a long bullish bar at the level shows a strong buyer interest, a bull catalyst.

Concluding thoughts

Buyers may take control of DOGE to the $0.07 resistance. Musk news is a key bull trigger that could sustain DOGE to the key level. Investors should consider buying on a potential retracement.

The post Dogecoin’s journey to $0.07 reignited as price jumps. What next? appeared first on CoinJournal.

• Stellar Lumens has posted 7% gains in a week.
• The cryptocurrency trades near the lowest levels in nearly two years.
• XLM, Stellar Lumens native token, is recovering but faces a likely resistance.

Stellar Lumens XLM/USD has added 7% in the past one week. We remain in a large bear market, suggesting that the cryptocurrency is on its way to recovery. The gains are driven by momentum rather than market developments.
Stellar Lumens claims to be an open network for transactions involving all forms of money. The network is designed to connect financial entities and people across the world.

The potential for growth of Stellar Lumens caught the eye of investors in 2021. The token capped a high of nearly $0.8 in May 2021 from merely $0.11 at the start of the year. However, a crypto crash this year has forced XLM to near the lows at the beginning of 2021.

Stellar Lumens initiates recovery but faces a resistance

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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.

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Source – TradingView

A technical outlook of XLM shows a moving average crossover. The short-term 20-day moving average has recovered above the 50-day moving average. A bullish MACD crossover also reinforces a bullish view of cryptocurrency. However, the momentum is still weak.

Thoughts on XLM

Technical indicators remain bullish on Stellar Lumens. The cryptocurrency has room for further upside. However, $0.12 is a key resistance to watch.

If XLM is to remain bullish, buyers must overcome the $0.12 resistance. The level has contained the price since June making it important for price action traders. If bulls outwit bears at the resistance, it could set XLM to the next resistance at $0.14.

Based on the above, XLM does not present an attractive buy opportunity despite the indicators sounding bullish. We need a break above the resistance to buy the token.

The post Is Stellar Lumens a buy after weekly gains? appeared first on CoinJournal.

• GMX is a DEX that supports spot and perpetual futures on an on-chain interface

• The token gained after news that it was getting listed by Binance on Wednesday.

• GMX faces a further correction 

GMX dubs as a decentralised exchange that supports spot and perpetual futures via its on-chain trading interface. Avalanche and Arbitrum power the DEX. GMX supports zero price impact trades at very low swap fees.

A key feature of GMX is that it allows users to borrow up to 30 times their initial margins. Its native token, GMX, provides utility to the ecosystem and facilitates governance. 

GMX token rose nearly 40% before sliding following the latest news. On October 5, Binance announced the listing of the GMX token. Binance said it would open trading for GMX pairs with BTC, BUSD, and USDT. The trading started on 2022-10-05 at 10:00 (UTC). The crypto exchange stated that GMX withdrawals would start on 2022-10-06 at 10:00 (UTC).

GMX corrects after double-digit gains

Source – TradingView

Technically, GMX rose past $56 resistance as social interest in the token grew on Wednesday. The token has since fallen back and trades below the resistance zone. 

The recent gains forced the token to break above the upper limit of the Bollinger bands. That implied that a correction was likely to happen. The token’s support is at $38, coinciding with the lower limit of the Bollinger bands.

Should you buy GMX

This analysis finds that GMX could continue to face correction after failing to maintain above $56 resistance. In our assessment, the token could have been driven by a retail frenzy. That is emphasised by data by LunarCrush, which shows that GMX was second in terms of social interest on Wednesday.

Of course, listing by a major exchange like Binance is a major boost for GMX. However, as retail interest cools, the price could take a hit.

The post What is the GMX token, and why is it surging today? appeared first on CoinJournal.