Schlagwort: crypto business

Firo price rose to the highest level since July 16 of this year as demand for the coin rose. It jumped by more than 28%, bringing its total market cap to over $43 million and its diluted cap to more than $80 million. Other privacy-focused coins also did well.

What is Firo and why did it rise?

Cryptocurrencies like BTC and LTC were created to facilitate transactions in an anonymous way. However, since Bitcoin works on a public ledger, its role as a privacy coin has been diminished since authorities can easily track transactions.

Firo is one of the few privacy tokens in existence today. Others are Monero, Dash, and Decred. These coins work by ensuring that no one can track transactions. They achieve that by automatically changing a user’s address as the transaction is being implemented. 

Investors have been focused on the privacy sector in the past few months as authorities got more concerned about the industry. Their most recent action was to sanction Tornado Cash, a cryptocurrency mixer that promoted privacy when using popular coins like ETH and BTC.

Firo is a privacy cryptocurrency that works using the proprietary technology known as Lelantum. This technology allows users to burn coins or destroy them so that they stop existing. After doing that, users can then redeem them at a later date for coins that do not have a previous history. 

Redeeming involves giving them zero-knowledge proof that you previously burned coins without showing those that you burnt.

Firo price has risen in the past few days even after a major development in the privacy token industry. Last week, Huobi, one of the biggest companies in the industry, said that it would delist the coin together with other privacy tokens. The company said that this delisting was done in order to comply with regulations. 

It is also rising as demand for proof-of-work cryptocurrencies following the success of Ethereum merge. Indeed, its hash rat has risen to the highest level in a few days.

Firo price prediction

The daily chart shows that Firo price has been in a strong bullish trend in the past few days. It has managed to move from the year-to-date low of $1.1715 to about $4. Along the way, the coin jumped above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved close to the overbought level. It also crossed the important resistance point at $3.42.

Therefore, Firo seems to have momentum, meaning that the coin will likely continue rising as buyers target the next key resistance level at $5.

Where to buy Firo now 

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 FIRO with Binance today

Wazirx

WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.

Buy FIRO with Wazirx today

The post Is it safe to buy Firo after crossing an important resistance level? appeared first on CoinJournal.

The Ethereum Merge is now completed, with the Ethereum network finally migrating to a proof of stake mechanism.

ETH, the native token of the Ethereum blockchain, has been underperforming over the last 24 hours. The poor performance coincides with that of the broader cryptocurrency market.

The crypto market has lost less than 1% of its value in the last 24 hours, with the total market cap still below the $1 trillion mark. Bitcoin is down by more than 1% so far today and risks dropping below the $20k threshold if the bearish momentum continues.

However, ETH should be rallying, considering the Ethereum Merge was successfully completed a few hours ago. The event was successfully completed a few hours ago after the network reached “terminal total difficulty” earlier on Thursday.

And we finalized!

Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

— vitalik.eth (@VitalikButerin) September 15, 2022

The Merge has now changed how ETH tokens are created and how transactions on the Ethereum blockchain are validated.

In the past, Ether tokens were generated via mining, which is an energy-consuming process where miners direct huge amounts of computational power to solve difficult puzzles. 

With the proof of stake mechanism, new ETH would be generated by individuals or entities dedicating large amounts of pre-existing ETH tokens.

Key levels to watch

The ETH/USD 4-hour chart is bearish as Ether has been underperforming over the past 24 hours. The technical indicators are bearish despite the execution of the Merge a few hours ago.

ETHUSD Chart By TradingView

The MACD line is within the negative zone, indicating that the ETH market is bearish at the moment. 

The 14-day relative strength index of 36 shows that ETH could enter the oversold region if the momentum is maintained.

At press time, ETH is trading at $1,584 per coin. If the bearish trend continues, ETH could slip below the $1,513 support level before the end of the day.

However, with the Merge taking centre stage in the crypto space, ETH could bounce back and rally higher later. If that happens, ETH could surpass the $1,743 resistance level over the next few hours. 

Where to buy now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ETH with eToro today Disclaimer

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.

Buy ETH with Skilling today Disclaimer

The post Ethereum successfully completes the Merge: ETH price analysis appeared first on CoinJournal.

• Polygon has been witnessing strong fundamentals that boosted the native token

• Polygon’s MATIC retraced sharply on Tuesday 

• MATIC faces some more pressure as the price moves below moving averages.

Polygon’s MATIC/USD will rarely miss out on the basket of the go-to cryptocurrencies. It is one of the cryptocurrencies that has been making good headlines. The price has also been reacting well to the strong fundamentals.

The most recent fundamentals of Polygon are a partnership with Starbucks. The coffee chain giant said it would use Polygon for its collectible digital stamps. The move is part of the company’s entry into Web3 with the Starbucks Odyssey program.

On August 31, Robinhood said it would let users send and receive MATIC on the polygon network. That expands MATIC’s utility beyond the Ethereum network. The move was inspired by the need to cut the huge costs on the Ethereum network.

MATIC slides below the moving average adding bearish pressure

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy MATIC with eToro today Disclaimer

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.

Buy MATIC with Skilling today Disclaimer

Source – TradingView

From the technical outlook, MATIC is not yet in a buy zone. At the current trading of $0.85, the price could slide further to minor support at $0.76.

Another bear indicator is the moving average. MATIC is trading below the 20-day and 50-day moving averages. Similarly, an RSI reading of 48 suggests that MATIC is not yet oversold. With the growing bear sentiment after the inflation data, a more likely direction is to the downside. 

On the flip side, MATIC has maintained an ascending trendline. If the price keeps the trendline, MATIC could turn bullish. Investors should consider buying on price action signals or if the token recovers above the moving average (s).

Summary

While MATIC remains vulnerable, the ascending trendline could ignite a bullish move. Investors should watch for bullish signals. A break below the trendline will see the token slide to minor support at $0.76.

The post Is MATIC retracement an opportunity to buy the token? appeared first on CoinJournal.

• Shiba Inu has recovered by a marginal 0.91% after an inflation-inspired decline.

• SHIB was the most viewed cryptocurrency in August

• The cryptocurrency remains vulnerable at $0.000012

Meme token Shiba Inu SHIB/USD is one that rarely follows the general crypto sentiment. Instead, SHIB has been moved by retail frenzy and social media mentions. It is also likely to see SHIB ballooning on any slight fundamentals.

A CoinMarketCap analysis shows that Shiba Inu was the most viewed cryptocurrency in August globally. The interest was connected to a number of projects which are expected to increase the utility of SHIB. One among them is the Shiba Inu metaverse.

Nonetheless, Shiba Inu seems to have been gripped by fears of a faster Fed policy action after inflation data. The cryptocurrency experienced a flash crash that saw it touch the support of $0.000012. As of press time, SHIB was recovering and up 0.91% in the last 24 hours. Does SHIB have a chance to make a comeback?

Shiba Inu trades at key support as price breaks below inside bars

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy SHIB 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 SHIB with Capital.com today Disclaimer

Source – TradingView

Technically, the Shiba Inu token has initiated a bearish breakout from multiple inside bars at the support. A breakout suggests that bearish pressure may mount at the key level. Besides, the price moved below the moving averages, which could offer further resistance above. Nonetheless, SHIB is showing recovery and resisting a drop below $0.000012.

Concluding thoughts

Shiba Inu remains vulnerable at the support zone. However, an interest in cryptocurrency could help its recovery at the critical make-or-break level. Currently, we cannot ascertain if the recovery will occur after a bearish breakout of inside bars at the support. We need to watch the price action over the next few days to ascertain the potential direction of SHIB.

The post Which way as Shiba Inu trades at an important support zone? appeared first on CoinJournal.

• Cardano is expected to undergo a network upgrade on September 22

• The network has witnessed increased asset inflows in the past week

• ADA is recovering after falling due to inflation data 

Cardano’s ADA/USD highly expected Vasil upgrade is getting close. The development team has earmarked September 22 as the date the hard fork will go live. With enthusiasm around the hard fork, it is highly probable the token will experience buying pressure. 

Well, there is no adequate proof of how Cardano will behave as the hard fork occurs. Nonetheless, a Digital Asset Fund Flows report has highlighted growing interest. For the past week, Cardano has witnessed inflows of $400,000. The rate is 4 times the inflows of $100,000 the previous week. Comparatively, Bitcoin products saw about $13 million in outflows in the past week. Ethereum had $62 million in outflows amid the expected move to a proof-of-stake blockchain.

The increased inflows into ADA suggest expectations that the market has on cryptocurrency. A successful hard fork could allow Cardano to outperform the market. 

ADA price movement and prediction ahead of the Vasil upgrade

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ADA 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 ADA with Capital.com today Disclaimer

Cardano is recovering after sustained losses following Tuesday’s inflation data. While most cryptocurrencies remain in the red, Cardano has surged by nearly 2% in the last 24 hours. Trading volumes are still down by 17%, highlighting a mixed reaction.

Source – TradingView

On the technical front, ADA slipped below the 50-day MA. It is recovering above the 20-day MA, although the price remains below an important $0.52 resistance. At the current level, ADA lacks a clear directional movement. A bullish momentum will be confirmed if ADA overcomes the $0.52 resistance. The Vasil upgrade could be the next trigger for bullish momentum.

Summary

ADA is recovering after the latest slip. Inflows on Cardano products are growing, which could trigger a surge. Currently, we cannot confirm a bullish bias as the price remains trapped by resistance and 50-day MA.

The post How bullish is Cardano ahead of the Vasil upgrade? appeared first on CoinJournal.