Schlagwort: crypto business

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Top 3 altcoins to buy as Bitcoin whales buy the dip

Despite news of another potential round of interest rate hikes, there is every reason to consider investing in cryptocurrencies at current prices. 

For starters, those with the most stake in the market are not selling their holdings. For instance, data shows that Bitcoin whales are not only holding but also adding to their positions.

Data also shows a lot of Bitcoin buying around the $20k level. This is an indicator that investors are confident of a potential rebound. With this in mind, it makes sense to consider buying into high-quality cryptocurrencies, which are most likely to do well once the market turns a corner.

Wondering which cryptocurrencies meet this metric? Lucky for you, we have researched and compiled some of the best cryptocurrencies to buy when cryptocurrencies could be trading at the bottom. 

XRP (XRP)

XRP (XRP) tends to do well when Ripple has good news. It also gets hit by the negatives, hence XRP’s underperformance since Ripple got sued by the SEC. However, besides signs that the case could be near its end, there are signs that the finance industry still has lots of faith in Ripple.

This is evident in the growing number of partnerships that Ripple is landing, especially in Asia. The latest of these is a partnership between Ripple and FOMO Pay, one of the top financial institutions in Singapore. 

FOMO Pay aims to improve its transactional liquidity using Ripple’s on-demand liquidity. Since XRP is an integral part of this system, it comes off as a viable cryptocurrency to buy today. 

Cardano (ADA)

Cardano (ADA) has lost much of its value since the cryptocurrency bear market started in December 2022. However, Cardano’s on-chain metrics indicate that this cryptocurrency could be about to turn a corner. Data by Santiment, one of the largest cryptocurrency data providers, shows that Cardano’s average funding rate points to a potential rally for Cardano. 

According to Santiment, there has been a sharp increase in the number of ADA longs liquidated. If past instances are anything to go by, then the odds are that Cardano is at a buy position at current prices. With Bitcoin holding and bouncing off key support, it is not hard to see why ADA could be positioned for a rally. 

Dogecoin (DOGE)

Elon Musk’s favorite meme coin has much potential if the markets show bullish signs again. Besides the hype that Dogecoin (DOGE) gets from Musk, a lot is going for it that could see its value go up in the year. 

One of them is technology upgrades aimed at making DOGE perform better as an everyday payment currency. The latest such move is to migrate Dogecoin nodes to a new core, dubbed v.14.6. This upgrade, among others currently happening in the Dogecoin ecosystem, could help drive up Dogecoin’s price higher if there is a market rally in 2022.

The post Top 3 altcoins to buy as Bitcoin whales buy the dip appeared first on CoinJournal.

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MonkeyLeague partners with BAYZ for quality esport soccer games

MonkeyLeague, a play-to-earn Web3 soccer game launched on the Solana blockchain, has announced its partnership with BAYZ, a Brazilian Web 3.0 gaming DAO.

As part of the partnership, MonkeyLeague has donated a sizeable number of NFT assets that will be distributed to the best gamers who will be able to earn rewards after participating in matches.

Players can use a minimum of four NFTs to create the best team of their choice, train the players, play tournaments, play matches with real players, and be ranked in the league ranks. 

BAYZ’s driving force has been to attract more people into the NFT gaming world. Ever since, they have been helping developers, publishers, and their partners to grow their businesses as well as get the best market services.

MonkeyLeague expansion into Latin America

According to MonkeyLeague, the new strategic partnership will bolster its expansion into Latin America since BAYZ has already established a strong community and a network of content creators. 

In addition, BAYZ will offer full support to MonkeyLeague by creating and hosting tournaments as well as launching initiatives that will be aimed at expanding the MonkeyLeague ecosystem in the region.

MonkeyLeague’s aim since its launch has been to expand into the South American region, specifically Brazil, where a majority are video and football fans.  MonkeyLeague believes that the love for football in this region can be used for the growth GameFi 3.0.

MonkeyLeague head of marketing and partnership, Oren Langberg said:

“We knew from the very beginning that Latin America as a whole would be a major focus for us in terms of markets, and Brazil is definitely a core of that plan. Partnering with a Web 3.0 gaming powerhouse like BAYZ is just one of many significant partnerships we have in place to bring a high-quality esports soccer game to Latin America. This is only the beginning.”

In addition, BAYZ Co-founder, João Borges said:

“We are committed to bringing more and more relevant partnerships to our NFT gaming community. The partnership with MonkeyLeague solidifies this commitment and places BAYZ as one of the market leaders in Web 3.0 games.”

The post MonkeyLeague partners with BAYZ for quality esport soccer games appeared first on CoinJournal.

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KuCoin CEO announces fund targeted at tackling FUD in crypto

FUD misleads investors and harms the crypto industry’s image, Johnny Lyu said on Tuesday.

KuCoin CEO Johnny Lyu has today unveiled plans for a fund that he says will focus on tackling the issue of disinformation and misinformation, popularly bundled under the term FUD (fear, uncertainty and doubt), within the crypto space.

Lyu revealed the plans in a Twitter thread on Tuesday.

He highlighted that “FUD benefits no one except the FUDers” and that apart from misleading investors, it “harms the industry’s image and market confidence.”

The KuCoin chief believes that the Anti-FUD Fund initiative his platform is looking to launch will help the industry combat FUD, benefiting the investors and the entire crypto space.

An anti-FUD fund, three initial targets

The crypto industry has in the past few months witnessed the collapse of some of the biggest companies in the sector, the likes of Three Arrows Capital, Celsius Network and Voyager Digital. And over the past few weeks, FUD across crypto Twitter has been about KuCoin’s solvency.

The exchange’s announcement of a funding round only triggered more FUD – to which Lyu and KuCoin responded to.

The Anti-FUD Fund will thus look to achieve three objectives to help fight unnecessary FUD.

According to Lyu, the first goal is to “implement Anti-FUD education online and offline” with the exchange leveraging its global community to spread information about what makes FUD and how to spot it. The plan is to see this rolled out in over 20 languages.

The other avenue will be to use industry leaders and responsible influencers, motivating them and tapping into the reach to deliver trusted information to the public. The goal is to help audiences keep off FUD, the KuCoin CEO added.

The third approach will target FUDers – those deemed to be deliberately spreading misleading information. The fund will dedicate resources to trace and institute legal action against such individuals or platforms.

“The spread of FUD and panic harms projects, users, and the industry,” Lyu noted, saying that such actions must see those responsible “held to account.”

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Watch for the close of Avalanche’s daily candlestick to assess price direction

  • Avalanche is trading at the breakout zone after correcting in a bear market

  • The Fed’s policy move on Wednesday will determine the price move

  • Watch for the close of the daily candlestick for a possible reversal or bear continuation

Most cryptocurrencies are correcting after the recent gains. Profit taking and Fed’s policy action on Wednesday is playing a role. Cryptocurrencies like Avalanche AVAX/USD had previously breached key levels. They remain on the watch list should the Fed hold a soft stance regarding policy tightening.

AVAX is trading at $20.12. The level is close to or at the support of $20.95. AVAX traded and consolidated at $26 as the price pushed through the $20.95 resistance. At the current price, the token is seemingly looking to crash back into the consolidation zone. Nonetheless, it can’t be confirmed yet that AVAX has slipped below the $20.95 support. We need the close of the daily candlestick for confirmation.

AVAX slightly slips below the breakout support

Source – TradingView

Technically, the Avalanche token is bearish at or slightly below the $20.95 support. The short-term moving averages have moved above price and could add bear weakness. The MACD indicator is also about to close below the moving average in a bear market.

While bear pressure remains on AVAX, we cannot confirm a break below the $20.95. Investors should watch for the close of the daily candlestick. It could be a false breakout if the candlestick closes above the support. In that case, a buy signal would be generated. That would, of course, be subject to the prevailing crypto sentiment.

If AVAX closes below the $20.95 support, with a bear crypto sentiment, weakness will continue. The next potential support for the token is $16.

Summary

AVAX is yet to confirm a bearish momentum despite breaking slightly below the $20.95 support. The token could reverse if the daily candlestick closes above the support.

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Uniswap price prediction amid full NFT integration plans

  • Uniswap has hinted at plans for a Full Sudoswap Support

  • Uniswap token is under pressure but remains in an uptrend

  • $5.6 is the immediate level to watch should weakness continue

Uniswap UNI/USD is correcting after the recent gains that saw the token top $7.70 on July 19. The token has been largely consolidating since July 16. A breakout of the key levels seems unlikely as weaknesses continue to grow. 

The latest weakness in the Uniswap token comes amid positive developments on the network. On June 22, Uniswap’s head of NFT products, Scott Lewis, announced plans for Full Sudoswap Support. The integration of Sudoswap, an NFT exchange, will allow the trading of NFTs on the platform. The trading is indicated to start around the fall. 

The full integration of NFTs through Sudoswap support is positive for Uniswap and its native token. That would detach Uniswap from other platforms such as OpenSea for NFTs. The integration will also enable NFT DEXs and other products on the platforms. The developments strengthen the use cases of UNI.

The news, of course, complements the latest development where the UNI token was listed on Robinhood. We believe UNI is only correcting after the latest gains, and investors should consider buying lower.

Uniswap corrects at a minor resistance as weakness grow

Source – TradingView

Technically, UNI remains on an uptrend despite the latest weakness. The cryptocurrency met a minor resistance at $7.4 and is dropping lower. The MACD line is closing below the moving average, indicating a bearish pressure. 

We believe UNI will continue dropping to find support at $5.6. A further drop to $4.1 support will depend on the prevailing crypto sentiment. However, we believe UNI has strong fundamentals to make a comeback. Investors should monitor the token.

Summary

Uniswap is bearish but remains solid on an uptrend. Technical indicators suggest a further price drop. Investors should watch for a bullish reversal at $5.6.

The post Uniswap price prediction amid full NFT integration plans appeared first on CoinJournal.