Schlagwort: crypto business

The broader crypto market is underperforming at the moment, but Decred is rallying.

The broader cryptocurrency market has been struggling over the past few days, and the bearish trend could continue for the rest of the day. The market has lost more than 4% of its value in the last 24 hours.

Currently, the total cryptocurrency market cap has dropped to the $1.8 trillion level. If the bearish trend continues, the total crypto market cap could drop to the $1.7 trillion level before the end of the week.

Bitcoin and Ether, the two leading cryptocurrencies by market cap, have lost more than 3% of their values in the last 24 hours. Bitcoin has dropped below the $40k psychological level while Ether is trading below $3k for the first time in weeks.

However, DCR, the native token of the Decred ecosystem, is up by more than 18% in the last 24 hours. Thus, making it the best performer amongst the top 100 cryptocurrencies by market cap.

There is no clear catalyst behind DCR’s ongoing rally, with the broader market currently underperforming.

Key levels to watch

The DCR/USDT 4-hour chart is bullish as the coin has outperformed the market in the last 24 hours. However, the technical indicators show that it could be due for a trend reversal if the broader market continues with its current bearish performance. 

The MACD line is above the neutral zone, indicating bullish momentum. The 14-day RSI of 66 shows that DCR could enter the overbought region if it gains the support of the broader market. 

At press time, DCR is trading at $67.2 per coin. If the current momentum continues, DCR could rally past the $70 mark before the end of the day. However, it would need the support of the broader market to reach $75 over the coming hours and days.

DCR could drop below the first major support level of $63.4 if the broader market continues to be bearish. However, it should defend the second major support level at $59 over the next few hours.

The post Why is Decred up by more than 15% today? appeared first on Coin Journal.

Bitcoin has dropped below the $40k level again as the broader market continues to struggle.

The cryptocurrency market has been struggling over the past few days, and the bearish trend could continue in the coming days. The broader market has lost more than 4% of its value in the last 24 hours.

At the moment, the total cryptocurrency market cap has dropped to the $1.8 trillion level. If the bearish trend continues, the total crypto market cap could drop to the $1.7 trillion level before the end of the week.

Bitcoin, the world’s leading cryptocurrency by market cap, has lost more than 3% of its value so far today. At press time, BTC is trading around $38,900 per coin. Bitcoin has lost more than 8% of its value in the past seven days.

The latest bearish trend puts Bitcoin even further below its all-time high price of $69,044, which was achieved in November 2021. 

After dropping below the $40k psychological level, the bulls would need to defend the $35k support region to allow Bitcoin to regain its value of around $45k in the short term.

Key levels to watch

The BTC/USD 4-hour chart is bearish at the moment as the bears control the market. The technical indicators show that BTC is underperforming and could soon slip lower.

The MACD line is below the neutral zone, indicating a bearish momentum currently in play. The 14-day RSI of 30 shows that Bitcoin is currently in the oversold region and could face further selling pressure in the short term. 

If the bearish trend continues, Bitcoin could drop below the first major support level at $37,527 over the next few hours. In the event of an extended bearish run, BTC could be forced to defend the major support level at $35,000.

The post Where does Bitcoin go next after dropping below $40k again? appeared first on Coin Journal.

Ethereum and Cardano are some of the best-known blockchains in the industry. They are also some of the largest, with Ethereum having a market cap of more than $351 billion. Cardano has a market value of over $28 billion and is the eighth biggest cryptocurrency in the world. In this Ethereum vs Cardano comparison, we will identify the better buy between the two.

The case for Ethereum

Ethereum is a dynamic blockchain project that is helping people build all types of decentralized applications (dApps). Some of the most popular dApps are in the decentralized finance (DeFi), non-fungible token (NFT), and gaming industries. 

There are several reasons why Ethereum is better than Cardano. First, it has a better brand recognition considering that it was among the first cryptocurrencies to be established. As such, it is the second most popular cryptocurrency after Bitcoin.

Second, it has the biggest ecosystem in the blockchain industry. Its DeFi apps have a total value locked (TVL) of over $120 billion, giving it a market dominance of over 52%. It also has a leading market share in industries like non-fungible tokens (NFT) and gaming. Some of the most popular platforms in the industry like OpenSea, Bored Ape Yacht Club, and Decentraland use Ethereum.

Finally, Ethereum is in a transition to become a proof-of-stake (PoS) network. The merge of the current Ethereum and the Beacon Chain will happen in Q3 of this year and will help transition the network to the faster proof-of-stake network. Here’s how to buy Ethereum.

The case for Cardano

The next part of the Ethereum vs Cardano comparison looks at the latter. Cardano is a similar blockchain project that offers fast speeds and lower transaction costs. Unlike Ethereum, it was built using a proof-of-stake (PoS) consensus. 

While Ethereum has a bigger ecosystem, there are several reasons why some analysts believe that Cardano is a better investment. First, it is a relatively new platform that has millions of fans globally. Indeed, on-chain data shows that Cardano has some of the most active holders in the market.

Second, since Cardano is a newer platform, analysts believe that it has a longer runway for success than Ethereum. They see Ethereum as a mature platform whose growth will be limited.

Third, Cardano’s ecosystem is growing, with the number of developers building in it rising. Some of the top apps in the ecosystem are SundaeSwap and MinSwap. Here’s how to buy Cardano.

Cardano vs Ethereum

In my opinion, I believe that Ethereum is a better buy than Cardano because of its strong ecosystem and the ongoing transition to Ethereum 2.0. A faster and cheaper Ethereum will remove the incentive for developers to build on alternative chains.

The post Ethereum vs Cardano: Which is a better buy? appeared first on Coin Journal.

Bitcoin has often been described as a hedge against inflation, and for good reason. It can be a good store of wealth even though it has its own volatile nature. But in addition to this, there are still other crypto assets that can help you weather the storm of inflation better. Here is why:

• Crypto assets are now part of the mainstream financial industry.

• There is a lot of liquidity in the crypto market, so it’s easier to convert assets into money.

• The value of crypto still has so much potential for future growth.

So, if you are worried about the rising inflation in the US, we have two crypto assets that may help avoid this. Here they are:

Pax Gold (PAXG)

Pax Gold (PAXG) is a stablecoin whose value is directly linked to the price of gold. In essence, the coin moves in tandem with how gold prices move in the real market. Now, as you know, there is no better hedge against inflation than gold.

We have in fact seen gold prices surge in recent days as new inflation data comes out in the US. Pax Gold allows you to get exposure to the precious metal by simply buying decentralized crypto assets.

Bitcoin (BTC)

If you are not sure about gold, you can always revert back to the ultimate hedge against inflation in crypto. Bitcoin (BTC) has always been a huge part of investment portfolios around the world simply because of its immunity against runaway inflation.

Besides, the value of BTC can dramatically increase in the process. Bitcoin has also off late started to correlate with tech stocks. Tech stocks have often been seen as growth assets and as such, the coin can expose you to more growth in the tech industry while preserving your precious dollars.

The post The best cryptocurrencies to buy with rising US inflation appeared first on Coin Journal.