Schlagwort: crypto business

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Highlights May 16: Cryptos mixed, Bitcoin comeback expected?

The crypto market as a whole was mixed at the time of writing. Bitcoin is showing signs of a comeback.  

Top cryptos

It is not much as comebacks go, but it’s still something for Bitcoin. Like all major cryptos, it was hammered last week by the toxic mix of rising interest rates, geopolitical unrest, the LUNA disaster, and recessionary fears.

Bitcoin was trading around $30,000, relatively flat over the past 24 hours and roughly 16% from Friday’s $26,600 depth.  

Ether, the second biggest crypto, is changing hands at about $2,050 after dropping below $1,800 last week for the first time in two months. 

Most major altcoins were in the green on Sunday, reversing some losses as the crypto market cap tumbled by $300 billion. 

Cardano is rising in the ranks, up just under 7% and ranking seventh by market cap at the time of writing. Solana rose more than 10% at one point over the weekend and is right behind ADA with gains of almost 8% in the last 24 hours.  

Cryptos outside the top 10 were unremarkable. Crypto.com’s Cronos is showing signs of recovery. It added 3% to its value today. 

Top movers

Outside the top 20, the most notable gainers are Cosmos, NEM, and Decred, each up 11%. Cosmos is surging on news of the the launch of the Gateway to Cosmos Conference and Hackathon. 

NEM hinted at a new SuperNode program on the horizon. 

There is no specific reason for the surge of Decred, other than an affinity for highly decentralized and secure tokens. There is no way for big Decred holders to manipulate the operation of the protocol. 

Arweave is the biggest winner of the day with an increase of 16%. It is rallying because of newfound appreciation for immutable permanent storage, in part related to the situation with Terra.  

The biggest losers of the day are Kadena and Decentraland with 8% each, Kusama and Gala with 9% each, and Helium, The Graph, and Maker with 10% each. 

STEPN is second only to TerraUSD in losses today. Its token GMT, which is among the more volatile in the top 100, is down 12%.    

TerraUSD has lost another 14% in the last 24 hours. It is now trading for 16 cents. Terra founder Do Kwon announced plans to bring it back up to $1, when its peg to the USD was intact. 

Trending

The biggest winner today is the token of Ethos Project, which bills itself as the primary method of payment for audit and development services. 

The ETHOS token is incorporated into Ethos projects and holders may receive token and NFT airdrops from partner projects. 

You can stake ETHOS tokens from PancakeSwap on Ethos Farming Portal and potentially earn a reward. ETHOS token is up 1,011% in the last 24 hours.  

LUNA is the top trending coin on Coinmarketcap today, but that’s the extent of positive news. It has lost another 23% in the last 24 hours and ranks below #200 by market cap.   

The post Highlights May 16: Cryptos mixed, Bitcoin comeback expected? appeared first on Coin Journal.

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Will Terra recover? Expert analysis, price prediction, and where to buy Terra

Terra Luna Image on a cell phone screen

The price of Terra’s token LUNA was as $100 per 1 LUNA in April, but it crashed to near zero last week. TerraUSD (UST), Terra’s algorithmic stablecoin, lost its peg to the US dollar. 

This occurred against the backdrop of a significant crypto market decline, which sent Bitcoin’s price down by over 20%.

Now that Terra has lost 99% of its value, is there any hope for recovery? Its founders are making an effort to get it back up and running, which you’ll read about below. 

If you are attracted to unique features and want to learn how and where to buy Terra, this guide is for you. 

Top places to buy Terra now

Bitpanda

BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.

Buy LUNA with Bitpanda today

Celsius

Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.

Buy LUNA with Celsius today

What is Terra?

Terra Luna is a crypto project created by Terraform Labs, a tech company based in Singapore. Its purpose was to generate crypto adoption by building a set of algorithmic decentralised stablecoins required to carry out DeFi transactions. 

Terra reanimation action plan 

Terra’s founder Do Kwon has a plan to reanimate the coin. The first part of the plan involves a huge burn of the stablecoin TerraUSD (UST-USD) to bring it back to $1.

They plan to burn more than 371 million UST on the Ethereum Mainnet and any UST left in the Terra community pool. 

The second part is to stake 240 million LUNA tokens to stop whales from seizing control and to stabilize network governance. 

In addition, developers halted the Terra blockchain and suspended all pending transactions. This was to keep people from buying up LUNA at its extremely low price.

Should I buy Terra today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose. 

Terra price prediction

Many investors have become pessimistic about Terra’s prospects. According to the Motley Fool, it’s best to steer clear of the project despite the token’s low price.

Digital Coin Price and Coin Price Forecast see little hope for LUNA, forecasting an end-of-year price of below 1 cent resp. 6 cents.

However, other experts beg to differ. Investing Cube believes it is possible for LUNA to recover. If the stablecoin goes back to $1 again, LUNA will start gaining. 

Wallet Investor has not adjusted its bullish prediction for LUNA from before the crash. They predict 1 LUNA will trade for $151 in May 2023. Finally, Gov Capital anticipates LUNA to be worth $108 a year from now. 

Terra on social media

The post Will Terra recover? Expert analysis, price prediction, and where to buy Terra appeared first on Coin Journal.

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Top 3 coins to buy in this highly volatile market

If there is one thing that we can agree on about the crypto market right now is that volatility is here to stay. Yes, crypto has traditionally been known as a highly volatile market. But in 2022, things have been quite unpredictable, to say the least. Here are some of the factors pushing this volatility:

  • There are unprecedented economic and political risks in the world.

  • Investors are wary of growing monetary tightening by the Fed

  • Short term positions are dominating crypto investing at the moment

Well, if you want to trade in volatile market conditions, there are a few coins you can consider. Here are the top 3:

Dogecoin (DOGE)

Contrary to what most people believe, volatility in the market is not necessarily a bad thing for investors. Memecoins in particular tend to offer extraordinary volatility.

Data Source: Tradingview

While these price swings can be quite upsetting, they offer great opportunities to buy low and sell high. Dogecoin (DOGE) is one coin that should deliver immense volatility for swing traders. That way, it will be much easier to buy and sell the coin with short-term positions.

FTX Token (FTT)

For investors who are probably looking for a relatively stable coin to trade, FTX Token (FTT) is a good start. The coin will not swing wildly as DOGE or other meme coins. In fact, during the recent crypto crash, FTT managed to limit losses significantly. It is perfectly suited for people who simply need a coin that is easily predictable in the market.

Cosmos (ATOM)

There are some coins that will consistently deliver value in the long run. Yes, they are volatile every day but after a year or so, they will offer you decent returns on capital. Cosmos (ATOM) is one of these coins. It is backed by superb fundamentals and has since grown massively over the past few months. It’s a great long-term bet in crypto.

The post Top 3 coins to buy in this highly volatile market appeared first on Coin Journal.

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Ripple (XRP) tests $0.5 in the recent rally – Can it bounce back from the crypto crash?

Ripple (XRP) appears to have stopped the bleeding after two days of steep decline. The coin has in fact found some bullish uptrend in what looks like a trend reversal. But can it actually bounce back right away after crashing at the start of the week? Details are below but first, key points.

  • XRP tried to test $0.5 after two days of steep losses

  • The coin was however rejected at that price and has since fallen 10%

  • XRP will likely retest $0.5 again this week as bulls try to find more demand

Data Source: Tradingview 

Is Ripple bouncing back?

It is important to be aware of the dead cat bounce in crypto right now. You see, after every crash, we often see some trend reversal where coins rally only to fall again. For XRP, the attempted surge towards $0.5 appears to be a dead cat bounce. 

The fact that the coin was rejected firmly in this attempt shows that there is very little demand at the moment. Besides, overall sentiment in the crypto market has not changed that much. While we expect XRP to try and reach $0.5 in the coming days, it is likely the coin will fail again. 

Also, XRP still faces crucial hurdles even if it was able to go above $0.5. The price action will struggle to maintain any prolonged upward momentum right now. For these reasons, the outlook for XRP still remains bearish in the short term.

When will XRP recover?

There were hopes that the second quarter of 2022 would provide much-needed impetus for crypto. But it is clear that sentiment in the broader market has not yet shifted significantly in a positive way. 

As such, XRP will likely face a period of high volatility until the end of June. But from a long-term point of view, there could still be superb gains by year’s end.

The post Ripple (XRP) tests $0.5 in the recent rally – Can it bounce back from the crypto crash? appeared first on Coin Journal.

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Apecoin sees renewed bullish momentum – Can the coin breach $10?

Apecoin (APE) is trending upwards today in line with the broader recovery in crypto. The coin appears to have paired some of the losses we saw in the last few days. But can this renewed bullish momentum push the coin above $10? More details to follow below but first, some highlights:

  • Apecoin has surged by over 40% over the last 24 hours

  • The breakout comes after nearly two weeks of negative sentiment around the coin

  • Reclaiming $10 could pave the way for a decisive run in the near term.

Data Source: TradingView 

Apecoin (APE) price analysis

The road towards $10 for APE now seems very plausible. After two weeks of weakness, APE has decisively trended upwards. Although the broader crypto market has recovered from losses over this week, APE is outperforming the market by almost 3 times. 

If indeed the current momentum breaks the $10 mark, it will open a new window of opportunity that could allow this NFT-based coin to surge even further. In fact, it is plausible that APE could rally towards its April highs and cross above $20. This will represent gains of up to 200%. 

Despite this, it is important to note that this renewed uptrend could just be a normal pullback. After all, the crypto market had crashed over the last few days. It was expected that the downtrend would stop slightly as it always does. If APE is not able to hit $10 in the coming days, we may see more losses again.

Can you profit from APE right now?

APE has performed quite well in 2022. But after hitting highs of around $24, the coin has faced a very steep and costly correction. Right now, APE is still trading at a huge discount compared to its previous highs. 

While we are not saying the coin will surge towards $24 in a few days, if you want to hold it for some months, this would be the most ideal time to buy.

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