Category Archives: Altcoin

Billion-Dollar Hedge Fund Manager Says This Emerging Altcoin Could Flip Ethereum – The Daily Hodl

Hedge fund manager Anthony Scaramucci says one Ethereum (ETH) competitor could become the Google of the cryptocurrency market.

In a new interview on CNBCs Halftime Report, Scaramucci says the high speed and low carbon footprint of the smart contract platform Algorand (ALGO) will likely give it a big leg up on the competition.

Algorand is a payments-focused public blockchain that uses a type of consensus mechanism called the pure Proof-of-Stake (PPoS) that does not require participants to solve complex puzzles to validate blocks.

The protocol allows Algorand to address the scalability issues of blockchain and process numerous transactions at a time without incurring high transaction fees.

Scaramucci explains why Skybridge just launched a $100 million fund to invest in the altcoin project.

The Skybridge research department thinks that Algorand actually has the opportunity to potentially flip Ethereum: its faster, [has] lower transaction charges. It has a net negative carbon footprint.

Scaramucci compares Algorand to search engine giant, Google, which toppled numerous competitors in the early days of the internet.

As that community develops, I think were sitting on something like Google.

You and I are old enough to remember when Alta Vista and AOL were the leaders at the nascent stages of the internet and they were trumped by Google,

So something like Algorand is something were putting a lot of money and resources in.

At time of writing, Algorands native token, ALGO, is trading at $1.87.

Featured Image: Shutterstock/vectorpouch/Sensvector

Read more:
Billion-Dollar Hedge Fund Manager Says This Emerging Altcoin Could Flip Ethereum - The Daily Hodl

Which altcoin can perform better than others at the current market bounceback? – FXStreet

Buyers keep controlling the situation on the market; however, some coins have come back to the red zone.

Top coins by CoinMarketCap

Yesterday, the two-hour EMA55 kept the Bitcoin (BTC) price in a sideways consolidation. In the afternoon, buyers tried to test the $60,000 level, but the daily high was only set at $59,250.

By the end of the day, the pair rolled back to the average price area.

BTC/USD chart by TradingView

Today, attempts to recover to the psychological level of $60,000 USD may continue, but if the bears push the moving average EMA55, the price can retrace to the $55,287 level.

Bitcoin is trading at $58,611 at press time.

Yesterday, the XRP price held above the average price level and consolidated above the psychological level of $1. Today, it is the second-biggest loser among the top 10 coins.

XRP/USD chart by TradingView

Today, given the positive sentiment of market participants, the recovery may continue to the resistance of $1.10.

XRP is trading at $1.0105 at press time.

Cardano (ADA) is also located in the bearish area as the price of the altcoin has declined by 0.80% since yesterday.

ADA/USD chart by TradingView

Despite the fall, Cardano (ADA) keeps consolidating after it has successfully bounced off the support at $1.496. If the situation does not change, and buyers hold the initiative, the rise may continue to the nearest resistance at $1.80.

Such a scenario is relevant until mid-December.

ADA is trading at $1.606 at press time.

Solana (SOL) is the biggest gainer today as the growth of the coin has made up almost 5% over the last day.

SOL/USD chart by TradingView

Solana (SOL) is slowly moving to its peak at $259.90. The buying training volume remains low, which means that traders are still accumulating efforts. If bears cannot seize the initiative, there are good chances to see a new pear at around the vital mark of $300.

SOL is trading at $227.55 at press time.

Avalanche (AVAX) is not an exception to the rule as it is also located in a bullish trend.

AVAX/USD chart by TradingView

AVAX is located in a wide channel from the technical point of view, and neither bulls nor bears are dominating. In this case, the more likely price action is continued sideways trading between the level of $110 and $130. Buyers have the opportunity for a rise if they can get to the $140 zone.

AVAX is trading at $122.47 at press time.

See original here:
Which altcoin can perform better than others at the current market bounceback? - FXStreet

Up by 71%, LUNA makes big gains, but will they sustain over coming days – AMBCrypto News

Terras native token LUNA which stands only 2 spots below the top 10 list, became this weeks biggest gainer of the entire top 100 cryptocurrency list. While a lot of aspects factor in for this, the bigger concern only remains in the interest of investors.

The altcoin has been consistently increasing since the end of November, charting an everyday rise of 14% and 15%. This led to the altcoin recovering all of Novembers losses while in the process also marking a new all-time high within 3 days and still continues to do so.

Trading at $66.2 at the time of this report, the alt became the biggest gainer of the week among the top 100 coins in the crypto market.

Now whether or not this is organic, is yet to be confirmed since trading volumes, which were at their highest in 2 months, do correspond with the rally.

However, the transaction stats represented by the total revenue from transactions still remained at their average levels.

But almost 7.5 million LUNA has been burnedthis last week, which is proof that the demand for UST is increasing, thus the rise could be organic.

A possibility behind the price rise could be the 25% increase in TVL in the Anchor protocol which also pushed Terras TVL to shoot up by 40%.

At $12.7 billion, the chain is slowly closing the $1.1 billion gap between it and Avalanche after the latter overtook it and placed itself in the #4 position.

And there is actually a good chance that it might achieve it since LUNAs social presence is fairly strong. The network is maintaining its development consistently as just today, cross-chain transfers of $UST between Terra and Fantom became available via the Anyswap network.

In any case, LUNA investors might still need to watch out, given the market is in a state of fear and LUNAs volatility is also on the rise.

Follow this link:
Up by 71%, LUNA makes big gains, but will they sustain over coming days - AMBCrypto News

Six Crypto Airdrops Could Be Coming to Savvy Altcoin Traders, According to Coin Bureau – The Daily Hodl

Pseudonymous Coin Bureau host Guy says that worthwhile crypto airdrops could be on the horizon while explaining a short history of the phenomenon.

Guy tells his 1.67 million subscribers that although most airdrops today are giving away tokens that will likely be worth very little, a few well-established blockchains are handing out coins for traders willing to meet the required interactive bounties.

The truth is, there are no doubt a lot of other projects that are giving away their tokens for free right now but thats because most of them are pretty worthless

However, its those airdrops that are distributed by popular projects in ecosystems that are the most lucrative, those that are worth more than a few thousand. These are the ones that youre most likely to hear about it.

Most of these high profile airdrops have been in the decentralized finance (DeFi) space, where people will have had to have interacted with a protocol or DApp in some way, shape, or form.

Guy speculates that crypto wallet MetaMask, layer-2 Ethereum scaling solutions Arbitrum and Optimism, and popular NFT marketplaces such as OpenSea, the Bored Ape Yacht Club, and Solanas decentralized exchange Solanart are the next token-less blockchains that may host airdrops in the future.

There are a plethora of low-value airdrops out there that give you virtually nothing I think if you really want to increase your chances of a lucrative airdrop, use those services and protocols that are actually adding value. Those that you would use anyway and not solely for the chance of an airdrop

On top of this, those projects that are providing the value are more likely to have a valuable token if it were to drop, its only logical. The same goes for anything in the NFT space.

I

Featured Image: Shutterstock/Space creator

See the original post:
Six Crypto Airdrops Could Be Coming to Savvy Altcoin Traders, According to Coin Bureau - The Daily Hodl

Is An Interesting Altcoin To Monitor With Real Business Utility – Green Entrepreneur

You're reading Entrepreneur United States, an international franchise of Entrepreneur Media.This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Investorplace.com - InvestorPlace

XYO (CCC:XYO-USD) is a cryptocurrency operating on the Ethereum (CCC:ETH-USD) blockchain. XYO has a current supply just under 14 billion tokens, with nearly 13 billion in circulation. As of Nov. 29, 2021, the price of XYO is $0.05406, multiple times its value in early Jan. 2021 of $0.0002288.

Source: karnoff / Shutterstock

Investors in XYO have been rewarded extremely well in 2021. What you should know about XYO now?

The best answer is the source itself, XYOs official Twitter (NYSE:TWTR) account:

XYO is a decentralized network of devices that anonymously collects and validates geospatial data, or data with a geographic component.

XYO has a mission to Facilitate education, research, and continued development of the XYO Protocol to increase understanding of the public benefit of an incentive-driven geospatial location network.

This is an interesting mission to me and XYO has business value and practicality, unlike other altcoins such as Dogecoin (CCC:DOGE-USD) or Shiba Inu (CCC:SHIB-USD).

XYO is now available on the Crypto.com app and Crypto.com exchange plus FMFW.io. According to Coinbase (NASDAQ:COIN), XYO is also available on Coinbase Exchange, KuCoin, Gate.io, HitBTC, and ZT. Why am I mentioning where you can trade XYO? It all connects to one word, value.

Some of the key factors determining the value of a cryptocurrency include Node count, rising demand, mass adoption, inflation hedge against fiat currencies, production cost and regulation. Another key reason that I love and explains the value of altcoins perfectly: the big reason altcoins have any value at all is because of marketing.

Marketing is the art of making consumers (and investors) want something that they normally wouldnt consider at all. Luckily, there are many cases where the wants and needs of consumers align with marketing and advertising. People then buy, try or invest in a product that is useful.

In this respect, XYO has an emphasis on one factor that I value a lot, utility. In fact, utility is one of the key factors to assess any altcoin according to Binance.

The five key factors for assessing an altcoin are:

XYO has plenty of function, is improving its accessibility and according to data from CoinMarketCap, its trading volume is up more than 196% over the past 24 hours, as of Nov. 29, 2021. So in three out of five factors mentioned above, XYO seems to have traction.

XYO needs industry partners in order to drive usage of its protocol. Right now, that list of industry partners comes with some well-known names and some that I do not know at all. Regardless, the companys list provides important information on these partners real-world solutions and case studies.

XYO itself states that One of our latest partners aims to solve human trafficking and safety in the Baja California region.

Other important solutions and business applications for XYO to solve include airports, hospitals, ecommerce, insurance, national security, rental cars and drones.

For airports specifically, XYO mentions that The XYO Network can provide independently verified location data that can help minimize luggage mishandling and can ultimately save travelers and airport staff time and money spent trying to track down missing baggage. Any traveler who has lost a suitcase and gone through the frustration and anxiety of getting it back in the past will probably think that this utility of XYO adds value.

Would I invest in XYO? Honestly no, for the following reasons. XYO has a market cap of about $678 million. I think that is too high for its current level of adoption. I want to see more partnerships, and for case studies to turn into real applications.

I see a lot of potential for business applications for XYO. It has utility. The strong rally of its price in 2021 though does not justify its real adoption in the business world. I would not buy XYO now but would keep an eye on it for more exciting partnerships.

On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog atthestockmarketontheinternet.com/. He has written in the past various articles for other publications and can be reached onTwitterand onLinkedIn.

The post Is An Interesting Altcoin To Monitor With Real Business Utility appeared first on InvestorPlace.

Follow this link:
Is An Interesting Altcoin To Monitor With Real Business Utility - Green Entrepreneur

This altcoin has a decent chance of pumping by 100% in the coming days – AMBCrypto News

The latter half of October saw RUNE massively rally on its price charts. In the fortnight between 19 October to 2 November, this altcoin fetched its investors more than 140% returns.

Right after breaching its local high of $17.27, this alt started its southbound journey. For most part of November, RUNEs price remained engulfed within its descending channel.

This alt, nevertheless, started showing signs of a trend reversal on 23 November. Interestingly, RUNE successfully managed to break above the aforementioned channel the very next day and went on to breach the $13.5 dollar mark earlier today.

RUNE/USDT || Source: TradingView

The uptrend over the last few hours has largely been momentum-driven. Thetrading volume of RUNE has been spending more time towards the upside when compared to early-October. So, for the uptrend to continue, RUNE-centric transactions need to hover around their current levels.

Parallelly, RUNEs open interest in the futures market has also been on the rise. With new money entering into the ecosystem, it can be said that market participants are quite confident about the prospects of this coin.

The funding rate too on most exchanges remained positive and was seen revolving in the 0.01% to 0.05% bracket at the time of this analysis, indicating the larger bullish sentiment. In fact, the long-short difference data also highlighted that a majority of traders currently have long bets placed and are favoring the price rise trend.

Even though nothing can be said with certainty, the odds of this alt spiking up in valuation at this point seemed to be fairly high. Well, this coin isnt alienated to massive surges and as highlighted above, it just witnessed one in October.

When compared to that period, the state of most of the metrics are more or less either the same or better. So,if things play out in the right way, RUNE could also end up doubling its valuation soon.

Even the fundamentals of the coin are quite strong at this point.As far as the networks builders and developers are concerned, they seem to be quite unstoppable at the moment. In fact, their roadmap for the next few weeks looks quite promising.

So, keeping the aforementioned trends in mind, any price level around the current $11 mark seems to be a good entry point for both the mid-term and the long-term.

The rest is here:
This altcoin has a decent chance of pumping by 100% in the coming days - AMBCrypto News

Heres Whats Next for Polkadot, The Sandbox and Three Low-Cap Altcoins, According to Crypto Analyst – The Daily Hodl

A popular crypto strategist and trader is mapping out the levels where Polkadot, The Sandbox and three other low-cap altcoins could bounce and potentially carve out bottoms.

The crypto analyst known in the industry as Altcoin Sherpa tells his 152,600 Twitter followers that interoperable blockchain Polkadot (DOT) might see an influx of demand once it taps the 200-day exponential moving average (EMA), which is currently hovering at $32.

DOT: More consolidation expected at the $30-$40 range. 200-day EMA should be support here.

Next up is blockchain-based gaming ecosystem The Sandbox (SAND). According to Altcoin Sherpa, hes looking for SAND entries around $5.

Probably one to buy the dip on. The strongest coins get bought back up the fastest.

The third altcoin is CRO, the cryptocurrency that powers the Crypto.com payment, trading and financial services platform. According to Altcoin Sherpa, a low timeframe support might provide some relief for CRO.

CRO: patiently waiting for $0.60.

Another coin on the traders list is Oasis Network (ROSE), a smart contract platform that prioritizes privacy for open finance. The crypto analyst says hes expecting ROSE to carve out a bottom around $0.29.

Good first reaction to the 0.618 [Fibonacci level]. Its likely this makes a lower high if it continues up strongly. I would rather see this consolidate for a bit at 0.618 and then form a solid bottom for continuation.

The last coin on Altcoin Sherpas radar is payments infrastructure platform COTI. The crypto analyst says that COTI is currently respecting the 200-day EMA as support ($0.37) but adds that a new sell-off event can push the token down to $0.30.

First good tap of the 200-day EMA. I think that this one will find a short-term bottom around here. More support at the 0.618 [Fibonacci level] though.

Featured Image: Shutterstock/Joshua Aucoin/stockphoto-graf

More here:
Heres Whats Next for Polkadot, The Sandbox and Three Low-Cap Altcoins, According to Crypto Analyst - The Daily Hodl

A recovery rally for Sushiswap is contingent upon these turn of events – AMBCrypto News

SushiSwap is maintaining its position as the tenth biggest DeFi protocol by the skin of its teeth.The more important issue though, is the fact that the protocols investors are observing constant losses and now they are reacting as per expectations.

SUSHI started out strong at the beginning of November but that motion lasted just for 3 days. On the fourth day, the altcoin began its downfall and has not stopped since. At the time of this report, coming down by 41% SUSHI was trading at $7.7.

SUSHI price action | Source: TradingView AMBCrypto

This has led to the investors suffering the most with more than 84% of all addresses facing losses at the moment. Since its launch in August 2020, the current levels are at at lowest drop to occur so far. Further, new investors that have joined this month are only observing losses too.

This caused many investors to sell their SUSHI since the overall market of the asset is realizing losses. However, this sentiment was only visible by retail investors as the whales movement did not show any notable difference.

But SUSHIs downtrends effect reflected upon the total value locked (TVL) on it as well, which over the month came down by 34% and the market value turned negative for the first time in almost six months.

This downtrend seems to be coming to an end as yesterday as SUSHI climbed by 13% and its TVL too recovered by $1.4 billion.

Furthermore, as per ADX the strength of the active trend (downtrend) reached the saturation point and now once it comes back down under 25, a trend reversal can be expected.

The receding red bars indicate receding bearish pressure and MACD line rising again also points towards the same conclusion. In the future, investors can expect the altcoin to follow Bitcoins cues as the coin shares an 83% correlation with the king coin.

Currently, $9.1 is a critical resistance for the altcoin. Once its flipped into and tested as support, the chances of a recovery rally will improve.

Go here to see the original:
A recovery rally for Sushiswap is contingent upon these turn of events - AMBCrypto News

Billionaire Tim Draper Reveals Two Altcoins Hes Watching in the Crypto Space – The Daily Hodl

Bitcoin bull Tim Draper is naming two altcoins in the crypto markets that hes keeping an eye on due to their strong fundamentals and unique use cases.

In a new interview on Bloomberg Markets, the billionaire venture capitalist says that open-source programmable blockchain Tezos (XTZ) has the things that he wants to see in a crypto project.

What I look for is who are the entrepreneurs and who are the engineers behind a given token. I love some of the tokens. I love Tezos because its got a great engineering team, and theyve redefined how to operate a token. They do it as proof of stake. They use less energy, and they have a new form of governance and thats exciting.

Draper says that he is also watching Ethereum-based altcoin Aragon (ANT). Aragon is an open-source software that enables users to build and manage their own decentralized autonomous organizations (DAO).

Aragon developed a community-governed decentralized court system to handle subjective disputes requiring the judgment of human jurors. According to Draper, this system could revolutionize the way juries work.

Looking at Bitcoin, the Draper Associates founder says that the king crypto is a great hedge against inflation, and that its protocol offers superior trust and reliability over government entities.

For investors, I think holding on to Bitcoin is probably a good place to be because there are only 21 million Bitcoin out there, and they represent the freedom that allows us to use them anywhere and the trust in that you are trusting in the software rather than trying to trust some bank or some government entity.

O

Featured Image: Shutterstock/Kit8.net

Read more here:
Billionaire Tim Draper Reveals Two Altcoins Hes Watching in the Crypto Space - The Daily Hodl

7 Altcoins to Buy As Bitcoin Rises to $120,000 in 2022: Analyst – Business Insider

Bitcoin believers like Forrest Przybysz, a senior cryptocurrency investment analyst at Token Metrics, have shrugged off the crypto's recent 15% correction. After all, Przybysz told Insider in a recent interview, bitcoin had risen by 66% over seven straight weeks, so it was bound to sell off. A healthy correction is no reason to panic.

Volatility is to be expected with burgeoning assets like bitcoin, but if Przybysz's latest prediction is proven correct, those who can withstand the ups-and-downs and hold on for the next six months will reap the rewards.

Bitcoin should reach a "big, aggressive peak" of $120,000 sometime between January and May, Przybysz told Insider, adding that its current "worst-case" scenario is $44,000. Two months ago, the crypto analyst told Insider that bitcoin could charge to between $100,000 and $150,000 by year's end, which is looking more and more like a long shot.

The match that ignites the bitcoin rocket could be a bitcoin spot exchange-traded fund (ETF). While a bitcoin futures ETF already launched in October and helped the token rally, an ETF directly backed by the token would be a much more positive development, Przybysz said. That catalyst may potentially drive bitcoin to $150,000, or even a "stretch" target of $180,000, he said.

Przybysz acknowledged that if bitcoin were to double from current levels, it won't do so in a straight line. Near-term upside may be capped at $79,000, he said, roughly $10,000 above its previous all-time high.

And even if bitcoin hits his lofty $120,000 target next year, Przybysz said it may not be a welcome development for long-term investors, as it could be the beginning of the end of bitcoin's big run.

"We're getting to a place in the crypto cycle where we're towards the end of the four-year cycle, Bitcoin's four-year halfing cycle," Przybysz said. "And usually towards the end of that is the most volatile period of time with the most aggressive moves upwards. But those aggressive moves upwards are almost always, are really always, followed by a pretty sharp crash with a lot of volatility. So I'd say that's very likely. ... The market looks very ripe for a parabolic runup."

If bitcoin blows up, altcoins typically defined as cryptocurrencies besides bitcoin may benefit.

Seven smaller altcoins that Przybysz is bullish on are listed below, along with each token's symbol, market capitalization, and use case. The crypto analyst told Insider that he personally owns three of the altcoins, besides bitcoin and ethereum: Wonderland, Avalanche, and Nano.

The first four tokens mentioned offer exposure to the metaverse, which is described as the next evolution of the internet thanks to the more immersive experience it may one day offer. Przybysz said he's bullish on the metaverse as investment grows in the next few years.

"The metaverse, I believe, is going to be a continued narrative that people continue to jump in on and invest in because I think they see it as the future," Przybysz said. "I don't think the narrative for the metaverse is over quite yet."

One non-metaverse altcoin that jumps out to Przybysz can be found at the bottom of this list, along with a lightly edited rendition of his thesis on it. The altcoin is his largest personal position bigger than bitcoin or ethereum he said, even as it's lagged its peers lately.

Read more here:
7 Altcoins to Buy As Bitcoin Rises to $120,000 in 2022: Analyst - Business Insider