Schlagwort: crypto business

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Solana reclaims $100 but downside risk still remains

After dipping below the $100 mark over the last few days, Solana (SOL) has managed to rebound. The coin has surged past this important psychological mark, and it is likely that the momentum we have seen will continue in the days ahead. Here are the main takeaways:

  • Solana (SOL) is looking to establish a decisive bullish breakout.

  • The coin is expected to test its 100-day SMA

  • It has established a bullish trend line in recent days that could bring more returns.

Data Source: Tradingview 

How long can SOL stay above $100

The $100 mark has often been the most important psychological mark for SOL bulls. In fact, it was a huge relief to see the coin surge past it. But how long can SOL stay above this? Well, it will depend on several important factors. First, the recent surge has allowed the altcoin to move past the crucial resistance zone of $105. 

The goal for bulls will now be to convert this resistance to support. If SOL can close the day above $105, then it is likely that we will see a sustained period above $100. At the moment, SOL is slightly above this price, having gained around 7% over the last 24 hours. 

Despite this, downside risks still remain. If SOL falls below $105 and fails to find any leg up, we could see more weakness follow in. Ultimately, the coin will bottom at the next support of $95 before attempting to rise again.

Why is SOL a good buy now?

Well, even with the short-term downside risk that SOL faces, it still remains a fairly decent altcoin to buy. Any long-term crypto investor should consider Solana seriously. But for the short term, if you don’t want to take any risk, wait a few days to see how the altcoin holds up above $105.

The post Solana reclaims $100 but downside risk still remains appeared first on Coin Journal.

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Zilliqa looks poised for a 30% upswing in the coming days

Zilliqa (ZIL) was a huge performer in the last three weeks. The coin saw record-breaking gains even as other coins slowed. But a correction that followed that mesmerizing surge put some breaks on ZIL’s rise. However, the coin still has a lot of potentials:

  • Increased buying pressure could push ZIL up in the days ahead.

  • The coin is now within a crucial demand zone of between $0.097 and $0.121.

  • ZIL has a potential upswing of around 30%

Data Source: Tradingview 

How Zilliqa can regain its momentum

ZIL has been slowing quite rapidly over the last week or so. In fact, after peaking during the last week of March, the token has lost nearly 56% of its value. But after a period of consolidation, the coin has now started to rise again. 

ZIL currently sits in between a very crucial demand zone that ranges from $0.097 to $0.121. In the past, this zone has provided a lot of buying pressure and so far, we are starting to see some uptick in bullish activity. ZIL has surged by at least 7% over the last 24 hours. We expect bulls to continue buying within this zone. 

As a result, ZIL will explode, bringing gains of at least 30% in the process. However, it is unlikely that ZIL will reclaim its all-time high of $0.237. While this is possible this year, in the near term, we expect the coin to face major resistance zones before it even gets close to $0.2.

What are ZIL’s long-term prospects?

After an exponential rally last month that saw gains of around 540%, it is clear that ZIL has run out of steam. In the near and medium-term, we expect the coin to struggle for demand. But in the long term, ZIL still has immense potential, and 2022 could still prove a very successful year for the token.

The post Zilliqa looks poised for a 30% upswing in the coming days appeared first on Coin Journal.

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Why has Atari Token (ATRI) dropped by over 25% today?

While the majority of the coins are making significant gains, Atari Token (ATRI) is nose diving.

At the time of writing, Atari Token is trading at $0.012993 after hitting a daily high of $0.0183 and a daily low of $0.01112.

But why is the token price dropping? In this article, we will focus on all the possible reasons for the downtrend.

Why is Atari Token price plummeting?

Before we go into the details as to why the token is dipping, let’s first understand what Atari is.

Atari Token is a decentralized cryptocurrency launched on the Ethereum blockchain to establish a universal mode of payment in the Atari video gaming space as well as allow publishers and developers to have a new way of monetizing their products.

Let’s now take a look at why is the token price tumbling.

Atari terminates its partnership with ICICB Group

One of the main reasons for the dip is the Atari, the gaming company, announcement in a news release that it has terminated its partnership with ICICB Group.

 The two companies had teamed up to launch the crypto and also Atari branded hotels across the globe.

This was back in 2020 when the hotels had announced that they will be accepting ATR as a mode of payment, where the gaming brand was to receive a 5% cut-off of all the revenues from the business venture with each venue set to offer immersive video game theme.

This was a big blow to the crypto and its holders. Following the news, the token has been on a downtrend.

However, it’s not clear what altered the deal, but the covid 19 pandemic might have contributed to some length of their plans to build extravagant accommodations worldwide.

Atari told the investors that the ICICB group is not authorized to represent the Atari brand on any of its official websites, social media channels, or whitepapers.

Reimbursing its holders

Despite all that, On Monday afternoon, April 18, 2022, a snapshot of all the ATRI holders was taken and a new exchange platform will be launched at a later date, therefore investors don’t have to worry.

 

The post Why has Atari Token (ATRI) dropped by over 25% today? appeared first on Coin Journal.

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$SAND price has gained more than 10% today: here is why

SAND price has been rising since April 17 and the bullish trend is gaining momentum every day.

At the time of writing, SAND was trading at $2.94; up 11.18% in the last 24 hours. It has hit a daily high of $2.99 and a daily low of $2.61.

Currently, its trading volume is $522.46 million which is much higher than the one it had on April 17 trading volume of $225.07 million.

In this article, we will focus on the factors causing the price of SAND to rally.

Why is SAND price rising?

Before we go into the details of the current price rally, let’s first lay a state what is The Sandbox and what is SAND.

The Sandbox is a blockchain-based online game owned by Amonica Brands Corporation that allows users to create, sell and buy digital assets. It was launched in 2011 and SAND is its native token.

Now onto the reasons behind the current rally.

Plan to raise $400 million

One of the main reasons that have attributed to the current price upswing is Bloomberg comment that the team behind the The Sandbox is planning to raise another $400 million; something that will see its valuation jump to $4 billion from both existing and new investors.

It is important to note that The Sandbox had a similar fundraising project in November last year 2021, where it was able to raise $93 million led by Softbank. 

However, the team has not yet set the grounds on which the fundraising will be carried out since this will be influenced by the markets.

The Sandbox gameplan

This time round The Sandbox has a clear game plan for having its Metaverse platform. 

Besides, The Sandbox had attracted prominent organizations like HSBC, a British banking organization, where they had partnered earlier this year after the organization was interested in buying a virtual real estate, LAND.

Rumors of The sandbox conducting an IPO

There have been rumours of The Sandbox conducting an Initial Public Offering (IPO), but The Sandbox Co-founder and chief operating officer, Sebastien Borgen disapproved the rumors.

The post $SAND price has gained more than 10% today: here is why appeared first on Coin Journal.

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CoinDCX raises $135M in funding towards crypto and Web3 growth

CoinDCX CEO Sumit Gupta said the crypto exchange will use the funds to help support crypto adoption and Web3 projects in India.

CoinDCX, one of the largest cryptocurrency exchanges, has announced a $135 million Series D funding round, according to details shared by the firm’s CEO Sumit Gupta.

“Excited to share that CoinDCX has raised over USD 135 million, in our latest Series D funding round. Another step closer to our dream of making crypto accessible to every Indian,” Gupta tweeted on Tuesday.

The funding round was led by Pantera Capital and Steadview Capital. Others to participate in the round were Kingsway, Draper Dragon, Kindred and Republic. 

CoinDCX’s series D financing also attracted further investment from existing investors B Capital Group, Coinbase, Polychain Capital and Cadenza.

The investment round pushed the India-based crypto exchange’s valuation to $2.15 billion. The company became India’s first crypto unicorn when it was valued at $1.1 billion during its Series C funding last August. The exchange has now raised over $245 million.

Web3 growth in India

The crypto startup’s funding round and plans around crypto adoption and Web3 comes just a couple of weeks after India’s tax regulation took effect. The 30% capital gains tax took effect on 1 April, with various aspects of the taxation criticized as potential setbacks to the industry.

CoinDCX wants to support growth within the crypto sector as well as Web3.

“We are on a mission to build a greater understanding and trust between regulators, industry, and our users. This latest round of funding will help us accelerate the growth of Crypto adoption in India and further the march of Web3.0,” he noted.

To help achieve these goals, CoinDCX has plans to make an even bigger impact via blockchain awareness and education programs for Indian investors.

The exchange will also use the funds for risk management as it seeks to offer its users a safe platform to transact.

The post CoinDCX raises $135M in funding towards crypto and Web3 growth appeared first on Coin Journal.