Schlagwort: crypto business

• Avalanche traded at $10.65, down 1.5% in the past 24 hours.
• The declines for AVAX, which has plummeted from highs near $16 in mid-July, come ahead of a $103 million token unlock.
• Token Unlocks shows Avalanche is set to unlock 9.54 million AVAX tokens on August 26.

Avalanche is closer to unlocking a significant chunk of its native token AVAX, with this coming at a time a crypto sell-off has put pressure on prices. 

With AVAX price down nearly 14% in the past week and over 25% in the last 30 days, the impending token unlock is definitely one to watch for Avalanche.

Avalanche will soon unlock AVAX worth $103

Details on the platform Token Unlocks shows that the smart contracts platform is poised for a supply surge of 9.54 million AVAX tokens. That means over $103 million worth of AVAX tokens will soon be released into circulating supply. The event is scheduled for August 26 and will see the network add to its circulating supply by 2.77%.

The planned unlock has earmarked tokens for various Avalanche ecosystem players. About 2.25 million tokens will go to strategic partners, roughly 1.67 million to foundations and 4.5 million to teams. Another 1.13 million AVAX is set to be released via airdrops.

Avalanche has so far unlocked 379.79 million AVAX tokens, representing 53%. Another 340 million, or about 47%, remains locked.

AVAX price outlook

The core Avalanche team could see this as an opportunity for ecosystem growth. However, traders are inclined to keenly watch the market as the new supply enters the market. This is due to the potential impact of such a massive release on short term price performance, especially as selling pressure creeps in.

AVAX was at $10.65, down 1.5% in the past 24 hours at 6 am ET on Monday. According to CoinGecko, the cryptocurrency’s 24-hour trading volume stood at $88 million, up 12%.

The token’s value has traded lower since peaking near $16 in mid-July this year. DeFiLlama data shows the total value locked (TVL) in the Avalanche DeFi ecosystem has also shrunk, falling more than 10% in the past seven days to $544 million. 

 and could face further downward pressure given the prospects of a volatile reaction to the unlock. Other market conditions might also come into play.

The post Avalanche unlocks $103M AVAX this week: What’s the price outlook? appeared first on CoinJournal.

• Kaspa (KAS), Litecoin (LTC) and Tron (TRX) are among top gainers today as crypto markets eye a rebound.
• But Hedera and Shiba Inu, one of the most popular crypto meme coins, has suffered notable declines in the past 24 hours.
• New meme coin Shiba Memu has raised over $2.16 million in its presale as AI drives interest.

The crypto market is still searching for a sure footing amidst a tricky terrain wrought with likely traps. Last week’s sharp sell-off that crashed Bitcoin to lows of $25k and Ethereum to under $1,600 has many token trading at or below key levels, with the likes of XRP leading a weekend bounce that has seen Kaspa, Litecoin and Tron among top gainers early Monday.

Elsewhere, Hedera’s outperformed in recent days but it’s among top losers in the past 24 hours. Shiba Inu price has declined further as the troubled launch of Shibarium adds to the downside pressure.

While analysts are bullish on crypto long term, here’s the short term outlook for Kaspa, Hedera as well as overview of Shiba Memu. 

Kaspa price prediction

Kaspa has posted a significant uptick, rising 5% in the past 24 hours to trade above $0.043. But while the GHOSTDAG proof-of-work cryptocurrency is up on the day, price remains 16% off its recently reached all-time high above $0.051.

Zooming out, we see a recently formed cup and handle pattern. KAS has performed a breakout and retest of the support area and could embark on another upward break. The daily stochastic RSI also shows bullish divergence.

If price breaks higher, bulls should be able to test resistance in the $0.046-$0.050 zone.

Hedera price prediction

The price of HBAR, the native token of the decentralised public blockchain Hedera, has declined 3% in the past 24 hours. However, despite paring gains, HBAR price is nearly 15% up in the past month.

As highlighted here, HBAR gained some momentum after FedNow added Hedera micropayments platform Dropp Inc. The positive outlook for the token remains if bulls prevent a decline below the crucial technical level of $0.060. 

Despite declines, HBAR remains in an ascending channel. Resistance is likely at $0.064, with immediate targets including $0.077 to $0.085. On the flipside, the area around $0.054 becomes a “must-defend” for bulls.

What is Shiba Memu?

Shiba Memu, a new artificial intelligence powered cryptocurrency, is nearing the final phase of its hugely successful token presale. The meme coin looks to leverage natural language processing, predictive analytics and image/video recognition to build a self-sufficient protocol driven by an AI dashboard and native token dubbed SHMU.

The new meme dog coin is expected to hunt down rivals via a marketing strategy comparable to 100 marketing agencies, thanks to AI. Interest in SHMU and its potential as an investment has seen investors pour over $2.16 million into the token sale. 

Learn more here.

Shiba Memu price prediction

SHMU price has increased from $0.011125 to currently $0.021700. An interesting fact about Shiba Memu presale is its pre-programmed increases that take place every day at 6pm GMT. Investors knowing this offers a clarity of what to expect.

The expected price increase will take the value of SHMU during the offer to $0.024400. BitMart is already one of the exchanges expected to list SHMU, and demand when tokens launch on more crypto exchanges could help push prices higher.

It’s a scenario that could see SHMU prices explode to $0.1 when the AI dashboard goes live. The bullish outlook strengthens if crypto’s next bull cycle comes into play.

However, the short term picture is one where investors are likely to pay attention to the regulatory environment – particularly around the US Securities and Exchange Commission (SEC). One key segment being watched is the potential approval of Ethereum Futures ETFs and spot Bitcoin ETFs. The progression of the SEC vs. Ripple lawsuit is another, while traders will be mindful of the macro environment.

A bullish combination of these factors could be crucial for cryptocurrencies, including Shiba Memu.

The post Kaspa, Hedera, Shiba Memu price prediction appeared first on CoinJournal.

• XRP price was up 4.5% to above $0.52 after bouncing from recent lows of $0.47.
• Judge Torres only granted permission to file the motion for an interlocutory appeal. Its not an appeal.

XRP is up 4.5% to trade above $0.52 at the time of writing. The Ripple token is leading the broader cryptocurrency market as bulls look to bounce following the downturn that plunged prices on Thursday and Friday.

While the Fear & Greed Index holds at 37 to suggest the market is still bearish, Bitcoin has climbed above $26k and Ethereum is hovering near $1,670. Dogecoin has gained 1.2% in the past 24 hours. With the top 10 assets turning green, the total crypto market cap has increased 0.8% to $1.12 trillion.

XRP price up after SEC request to appeal

XRP holders have responded positively to the latest development in the SEC versus Ripple Labs case. After paring all gains seen following the July ruling that effectively declared XRP not a security, the plunge to $0.47 on August 18 threatened further declines.

As reported here, Judge Analisa Torres granted SEC’s request to file an expedited appeal on ruling about direct XRP sales by Ripple. Although XRP price had slipped slightly to retest the intraday lows, it flipped back above the psychological buffer of $0.50 as the market reacted to SEC’s motion of appeal that essentially acknowledged XRP by itself is not a security.

Here’s what Pro-XRP lawyer John E. Deaton said:

I have to say there is no doubt 75K #XRPHolders are a major reason the SEC is conceding this issue. We fought to have the judge actually ✍️ that the token itself is not the security. In fact, it was the first section in our argument in the Brief. https://t.co/ann7Hah7K3 pic.twitter.com/yqodFQ1eAV

— John E Deaton (@JohnEDeaton1) August 18, 2023

Here is what the SEC’s filing read in part, as highlighted in a post on X by Fox Business journalist Eleanor Terret.

“The SEC did not argue here or in Terraform that the asset underlying those investment contracts were necessarily a security (and the SEC does not seek appellate review of any holding relating to the fact that the underlying assets here are nothing but computer code with no inherent value).”

XRP price skyrocketed to near $0.94 in July after Judge Torres’ ruling.

The post XRP price jumps 4% to lead crypto bounce: here’s why appeared first on CoinJournal.

• Algorand price fell to $0.09, its all-time low, amid wider crypto sell-off.
• ALGO’s highest ever price was $3.56 reached in 2019 – it also hit $2.80 during the 2021 bull market.
• Regulatory headwinds have coincided with further declines for ALGO.

Algorand is among several altcoins that had it extremely rough during this week’s crypto sell-off. As Bitcoin plummeted to under $25k and Ethereum to under $1.6k, Algorand’s native token ALGO shed nearly 10% to a new all-time low of $0.09.

Algorand price outlook – what next for ALGO?

While ALGO bulls are currently looking to reclaim the $0.1 level, sell-off pressure remains strong and the path of least resistance is downwards. According to CoinMarketCap data, Algorand’s trading volume in the past 24 hours has decreased by 34% to about $23.6 million. The market cap is down to $756 million.

Algorand price reached its all-time high of $3.56 on June 20, 2019. This was reached shortly after the layer-1 blockchain launched amid wider bullish sentiment regarding its potential. Mainstream recognition, multiple partnerships and a recent key network upgrade highlight positive factors for Algorand.

However, price has largely been in a descending mode since peaking at $2.80 during the last bull market.

In recent months, negative sentiment triggered by the US Securities and Exchange Commission Chairman (SEC) has impacted ALGO price. 

The SEC’s naming of Algorand as one of the unregistered securities in lawsuits against Bittrex and Binance accelerated the downward trend for the cryptocurrency. Incidentally, SEC Chair Gary Gensler once hailed Algorand’s potential as a blockchain network.

A lot looks to have changed since then from the SEC chair’s perspective.

In the market, ALGO is likely to suffer negative momentum even as the market eyes a bounce. Sellers are in control with the RSI firmly in oversold territory despite bulls’ attempts. In this case, further profit taking looks likely before an upward reversal materializes.

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