Schlagwort: crypto business

The Ethereum merge gives Polygon an edge in the short term. 

Key Points:

• With the Ethereum merge close, MATIC has the potential to grow exponentially once the bull market returns.

• Chainlink’s dominance in the decentralized oracles space gives it strong long-term growth prospects.

• While both LINK and MATIC are likely to do well long term, MATIC is likely to outperform LINK short term.

Polygon (MATIC)

Polygon is an Ethereum scaling solution. It is the most robust of all the other Ethereum scaling solutions in the market today. Like the rest of the market, MATIC has been bearish for most of 2022. However, in terms of fundamentals, MATIC is one of the strongest cryptocurrencies today. This has a lot to do with its connection to Ethereum. Ethereum is in the final stages of a merge that will see it run entirely as a Proof-of-Stake blockchain. The merge will also see Ethereum rely heavily on layer-2 solutions like Polygon for scaling. This means demand for Polygon is set to go up over time. Factor in the fact that MATIC is deflationary, and it’s not hard to see why it’s one of the cryptocurrencies that could do well in the next bull run. 

Chainlink (LINK)

Chainlink is a decentralized oracle network. It is the most dominant in the decentralized oracles space and accounts for over 60% of this market. Chainlink, like other cryptocurrencies, has taken a beating in the 2022 bear run. LINK has fallen below $10 for the first time in a long time. However, given how critical decentralized oracles are in the market, the chances are that LINK will bounce back. In fact, when you go by the old investment mantras of sticking to the fundamentals, LINK is easily one of the best cryptocurrencies to buy today and hold for years. 

Which one is a better buy?

Both Polygon and Chainlink are top cryptocurrencies to buy and hold long-term. However, in the short to medium term, the odds favor MATIC outperforming LINK. Once the Ethereum merge happens, the polygon network could see a boost in usage. On top of that, MATIC is deflationary, a factor that will become even more important as network adoption grows.

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Monero has news that could see it do better in the short term. 

Key Points:

• Monero, one of the best privacy coins in the market, is set to start tail emissions. This will guarantee miner support in perpetuity.

• DASH continues to grow in adoption as a means of everyday trade.

• While Dash and Monero could do well long term, Monero has better prospects in short to medium term. 

Monero (XMR)

Monero is one of the best privacy coins in the market today. One thing that makes Monero stand out is that it has all the characteristics of true money. This is because it is fungible, meaning every Monero coin has the same as the next one. Just like all dollar bills have the same value. This is a feature that even Bitcoin doesn’t have because Bitcoins can be blacklisted for whatever reason. As cryptographic currencies grow in importance in the global economy, Monero has a place as one of those that could gain adoption fast.

Dash (DASH)

Like Monero, Dash is a privacy coin and also one of the older cryptocurrencies in the market today. Dash is also one of the most adopted cryptocurrencies in the world today. For instance, in Latin America, DASH transactions are commonplace. With most cryptocurrencies lacking a clear use case, DASH’s high level of adoption gives it a high potential for growth going into the future. 

Which one is a better buy?

Both Monero and Dash are among the most solid cryptocurrencies today. Their biggest value drivers are tokenomics (low coin supply) and usage for everyday transactions. They don’t just exist for speculative purposes.

However, in the short to medium term, the odds favor Monero. That’s because it has news coming up. On the 9th of June, 2022, Monero will start a fixed reward for miners. The goal is to incentivize miners to keep the network active, even as competition drives mining rewards lower. This is a big deal as it guarantees that Monero will have miners supporting the network in perpetuity.

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DogeCoin has started to find some momentum after days of trading sideways. Although the coin is slightly underperforming the rest of the crypto market, it may be poised for a decisive run in the near term. This bullish thesis is based on both technical analysis and on-chain data. Here are the highlights:

• DOGE has shown a minor retracement towards $0.082 over the past few days

• This is a crucial demand zone that could trigger a bullish break towards $0.125.

• On-chain transaction data also shows that DOGE has the potential to hit $0.133.

Data Source: TradingView

DogeCoin – Is the bull run finally here?

For the most part of 2022, DOGE has seen a major decline. The downtrend has largely been triggered by growing risk-off sentiment in the market. Investors appear to have avoided major investments into meme coins. The May crypto crash also saw DOGE and other meme coins hit hard. 

However, the coin consolidated and is now finding steady demand as the overall market rallies. DOGE has, as a result, triggered a slight retracement towards $0.082. This is a very important demand zone, and if bulls can keep the price action there, it could trigger a buying frenzy that finally pushes DOGE towards $0.125.

But this is not the ultimate goal. On-chain metrics also appear to suggest that the upward ceiling will only slow once DOGE hits $0.133. If this happens, the coin will deliver over 50% in gains over the coming weeks.

How far can the meme coin go?

If the setup above plays out as expected, then you should expect a long period of gains for DOGE. In fact, even if the coin retreats from the highs of $0.133, we do not think it will sell off that much. The second half of the year could offer a big opportunity for DOGE bulls.

The post Onchain metrics show that DogeCoin has a possible 50% upswing appeared first on CoinJournal.