Category Archives: Altcoin
Swirl Cash on BSC Is the New Altcoin to Shoot up, Predicts Analyst – Coinpedia Fintech News
A well-known trader of the industry, who is known as Altcoin Psycho, has recognized a new potential token on Binance Smart Chain to pour capital into.
The analysts bet is on Swirl Cash(SWIRL), a decentralized protocol for private transactions on Binance Smart Chain. This newly launched project has risen to popularity after high gas fees on the Etheruem network.
He tells his 142,000 Twitter followers that SWIRL, unlike other new tokens, it already has a working project up and running. It has been listed on pancake swap too.
Heavily aped in SWIRL today as soon as it listed on PancakeSwap. Swirl is essentially the Tornado Cash of BSC, with much better token economics.
The main product is already live, so its not based on a whitepaper. This one will do incredibly well in my opinion. his tweet read.
Previously, the trader has placed his bets on decentralized cloud storage solution Akash Network, that it would be in the top 50 projects.
The prediction turned out well, as the protocol has risen up 100% and made it to the 204th spot.
Two days ago, Swirl Cash tweeted that it has had 1 Million USD in private transactions over just 48 hours, it has received more private transactions than any other protocol.
Swirl Cash, has been posting regular updates of the platforms development on Twitter. After the traders opinion, Swirl has shot up from a low of $1.55 to a high of $6.51, i.e a 320% return for the traders. At the time of writing, the token is trading at $4.74, with a $6.17 Million market capitalization.
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Swirl Cash on BSC Is the New Altcoin to Shoot up, Predicts Analyst - Coinpedia Fintech News
PundiX (NPXS) surges 130% in two days: What’s driving the rally? – Cointelegraph
NPXS, the native token of PundiX, a cryptocurrency point of sale (PoS) solution provider, has seen a massive surge in price over the past 48 hours.
In merely two days, the price of NPXS rose by more than 130% on Binance, outperforming most major cryptocurrencies on the exchange.
There are three key reasons behind the rally: the launch of token staking, token reduction, and the overall positive sentiment around the altcoin market.
On March 13, Zac Cheah, the CEO of PundiX, reaffirmed that token reduction and staking for NPXS is happening later this month.
When the supply of a token is reduced, it immediately acts as a catalyst because it typically pushes up the price if demand remains the same.
PundiX is reducing its token supply to a 1000:1 ratio and rebranding the native token from NPXS to PUNDIX. The rebranding is fueling the overall increase in interest in NPXS, considering that the token has been consolidating for a prolonged period.
Additionally, token staking further amplifies the positive effect on the value as it leads more users to stake NPXS and refrain from selling as the token is locked up. Cheah said:
As Cointelegraph previously reported, many cryptocurrencies saw a large rally in recent months after introducing staking.
For instance, Theta Network introduced staking for the THETA token, which coincided with the price of the token hitting a new all-time high on Feb. 14.
The altcoins market is seeing significant rallies almost across the board as Bitcoin price is currently consolidating between $56,000 and $59,000. What's more, the altcoin market's capitalization has reached a new all-time high of almost $730 billion, or roughly 50% higher than in 2017.
A pseudonymous trader known as "Rekt Capital" said that explained that this is a perfect example of market cyclicality, alluding that the overall trend remains highly bullish. He wrote:
Other notable rallies in altcoins include Harmony (ONE), Siacoin (SC), Terra (LUNA), and BitTorrent (BTT), which all surged from 40% to 140% in the last 24 hours.
Finally, the market sentiment around PundiX has been generally positive after its testnet launch on Feb. 11, as Cointelegraph reported.
Additionally, VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for NPXS on March 20.
The VORTECS score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and Twitter activity.
The VORTECS score for NPXS flipped from yellow to green a few hours before the price rallied on March 20 from around $0.006 to as high as $0.0082, or roughly by 30%.
As long as the altcoin market rally continues and Bitcoin consolidates above the $55,000 support area, the positive market structure of NPXS should remain intact.
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PundiX (NPXS) surges 130% in two days: What's driving the rally? - Cointelegraph
Why altcoins like YFI, ADA, DOT, EOS are in the buy zone? – AMBCrypto News
How altcoins are responding to BTCs increasing shorts
YFIs price has dropped over 9% in the past 24 hours, however, the trade volume was up 23.4%. Though it could mean that YFI is changing hands on exchanges with this newfound liquidity, it is more likely that the asset has given in to selling pressure and is now in the buy zone.
Based on metrics, it may be an ideal time to accumulate YFI. Other metrics that signal a change in YFIs price trend are the number of transfers (7d moving average). The number of transfers has reached an ATL of 55.161. The previous ATL was observed yesterday.
Retail traders and whales may have booked their unrealized profits before the price took a plunge since the number of sending addresses has hit an ATL as well, based on data from Glassnode. YFIs narrative is different from top altcoin Ethereum. Ethereums active supply has hit a one-month high.
YFI number of receiving addresses || Source: Glassnode
Altcoins like ADA, DOT, EOS, and BCH are following a similar narrative as YFI, and the trade volume has increased in the past 24 hours for over 4 days in a row. After double-digit gains last week, these alts have double-digit drops. If retail traders are holding on to these alts in their portfolio, it may be best to accumulate more and bring the average down before the price rally begins again.
100x or double-digit gains are not always the only strategy; dollar cost averaging is real, not only for Bitcoins but alts like these in the current phase of the market cycle.
In this market, cycle Bitcoin is also playing a key role, and it is likely that the sideways Bitcoin price action may lead to investment flow in alts and DeFi tokens, and there is evidence that this is happening in real-time; WBTC increasing is a clear signal that there is more BTC flowing into DeFi.
Besides, there are more shorts on Deribit and FTX in the past few hours than in the past 4 days, and this could mean that the asset may take a dip before the trend reverses for alts like YFI. Once the liquidation of longs exceeds shorts, (as it historically does before a correction in Bitcoins price) the trend is likely to reverse in alts like YFI, ADA, DOT, in the short-term, before a further price drop.
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Why altcoins like YFI, ADA, DOT, EOS are in the buy zone? - AMBCrypto News
Top Analyst Reveals Biggest Altcoin Bag, Names Five Crypto Assets Poised To Erupt – The Daily Hodl
A closely-followed analyst and trader is pulling back the curtain on his biggest crypto position outside of Bitcoin.
In a new tweet, the pseudonymous Kaleo tells his 81,900 followers that FTX Token (FTT), the native asset of crypto derivatives exchange FTX, is primed to erupt over 170% from its current price of $37 in the coming months.
FTT to $100 this summer confirmed FTT/USD is my biggest spot bag outside of BTC for a reason.
Another coin on Kaleos radar is Bitmax Token (BTMX). According to the trader, the native token of digital asset trading platform Bitmax is on the cusp of pulling off a massive bullish move.
Bought a bag of BTMX (BitMax Token). It looks primed for continuation along with the rest of the exchange coins.
Swipe (SXP), the native asset of the Swipe decentralized finance (DeFi) ecosystem, is also on Kaleos list. The crypto strategist expects the token to rise over 100% from its current value of $2.97.
SXP is by far the biggest laggard when it comes to Sam [Bankman-Fried] coins. Whether its just due to the TA or whether theres some type of major news soon, I expect this to blow past the old ATH (All-time high) when it breaks out of this range. I have a bag.
The trader is also keeping a close eye on Flow (FLOW), a crypto asset created for use cases in the gaming and non-fungible tokens (NFT). Kaleo believes that Flow is now ready to resume its bullish ascent after breaking out of consolidation.
FLOW is ready. Send it.
The fifth token on Kaleos watchlist is blockchain gaming platform Enjin Coin (ENJ), which he says is gearing up to ignite a big move against Bitcoin.
I expect a few more days of chop before the next leg up out of this range.
As for BNT, the native asset of decentralized exchange Bancor Network, Kaleo says hes buying the dip as he expects the coin to correct in the short term.
Taking some profit here. Ill add back on the retest.
Featured Image: Shutterstock/wacomka
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Top Analyst Reveals Biggest Altcoin Bag, Names Five Crypto Assets Poised To Erupt - The Daily Hodl
Top Trader Expects Massive Altcoin Rally This Month Here Are His Top 5 Picks – The Daily Hodl
A widely-followed crypto trader and analyst who built his following with bullish calls on Bitcoin says that he anticipates altcoins to be the big movers this month.
In a new tweet, the analyst known as Capo tells his 59,500 followers that hes closely watching the performance of altcoins as the Bitcoin dominance index is showing signs of a deep pullback.
Exciting times ahead for altcoins.
Traders rely on the Bitcoin dominance index to predict whether Bitcoin will outperform altcoins or vice versa. When the index flashes signs of weakness, its often a sign that altcoins may be about to outperform Bitcoin.
Capos bearish outlook on the Bitcoin dominance index comes as he emphasizes his bullishness on Ethereum against Bitcoin (ETH/BTC). The trader retweets a chart he posted in late February showing that ETH/BTC may be poised to print a new all-time high.
Soon you will see
Another coin on Capos radar is Ethereum-based automated market maker Balancer (BAL), which he says is also primed to reach a new all-time high against Bitcoin.
BAL/BTC all-time high is programmed.
The next coin on Capos list is a project designed to reduce risk through diversification and decentralizations: Reserve Rights Token (RSR). According to Capo, RSR/BTC is positioning to soar over 66% from 0.0000015 to 0.0000025.
Coming in at number four is e-sports and video entertainment protocol Verasity (VRA/BTC), which Capo notes has managed to end its six-month downtrend.
VRA Before vs. After. Squiggles dont lie. Bearish market structure is broken after a deviation. Fundamentals are good.
The last coin is blockchain-based gaming ecosystem SAND. Capo says he is bullish on both SAND/BTC and SAND/USDT.
SAND Not selling below $1.
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Top Trader Expects Massive Altcoin Rally This Month Here Are His Top 5 Picks - The Daily Hodl
Crypto Whale Says Three Altcoins Ready To Surge After Bitcoins Big Breakout – The Daily Hodl
An influential crypto trader and analyst is spotlighting three altcoins that he believes are on the verge of a breakout while Bitcoin coils up near its all-time high.
As Bitcoin retests the $57,000 level for the first time in nearly three weeks, pseudonymous crypto whale Flood, tells his 110,000 Twitter followers that he is keeping his eye on three crypto assets that may follow Bitcoins lead.
Lagging assets that previously had huge runs will get bid up here. SOL (Solana). SNX (Synthetix). AAVE.
Added all with some FTT Token (FTX) profits.
Back in late February, the margin trader also said hes loading up a few crypto bags in preparation for the next leg of the altcoin bull cycle.
Earlier this year Flood made the bold call that Bitcoin would spend most of 2021 above $50,000 and that SNX, the governance token for decentralized finance (DeFi) protocol, Synthetix, would trade above $24 this year.
2021 predictions: Bitcoin trades above $50,000 for the majority of 2021. SNX (Synthetix) trades above $24 this year. DeFi TVL (total value locked) 100B+ by Q4.
SNX was trading above $24 briefly in February and is currently hovering around $21, while Bitcoin has been dancing around the $50,000 range since mid-February and is trading just under $56,000 at time of writing.
Featured Image: Shutterstock/Tawansak
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Crypto Whale Says Three Altcoins Ready To Surge After Bitcoins Big Breakout - The Daily Hodl
Five Crypto Projects Are Going Mainstream This Month, Says Altcoin Dailys Austin Arnold – The Daily Hodl
Altcoin Daily founder and trader Austin Arnold says five crypto projects are going mainstream in March thanks to new business developments.
First up on Arnolds list is Ethereum (ETH). The trader cites the announcement that Amazon Web Services (AWS) has made Ethereum available on the Amazon Managed Blockchain.
Amazon says the move will make it easier for developers to utilize the leading smart contract platform.
With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten. With Amazon Managed Blockchain, customers get secure networking, encryption at rest and transport, secure access to the network via standard open-source Ethereum APIs, fast and reliable syncs to the Ethereum blockchain, and durable elastic storage for ledger data.
Arnolds next pick is the supply chain management tool VeChain (VET), citing the news that one of the largest aluminum companies in the world, the Norway-based Hydro, has initiated a pilot service built on VeChain to document product claims.
Third on Arnolds list is the cloud-based wallet Curv. He points to news reports citing anonymous sources who say that payments giant PayPal is in the process of purchasing Curv.
This could be big in my opinion as a fundamental green flag for the space, and by the way, the altcoins that PayPal supports. Big green flag for them as well.
Arnolds next pick is the Theta Network (THETA), a decentralized video delivery network. The trader points to news that Sonys European subsidiary plans to run a node on the Theta Network.
And last on Arnolds list is the custody service Hex Trust, which announced this week that it launched the first fully licensed custody services for non-fungible tokens (NFTs).
The company states that the massive popularity of NFTs and their big upsurge in prices calls for a secure way for investors to hold them.
With the NFT market surging and prices of NFTs climbing into the millions of dollars for a single collectible, it has become urgent to provide collectors and institutions with the ability to safely custody and insure their valuable assets. The Hex Safe platform has been upgraded to fully integrate NFTs on multiple blockchain platforms and token standards including Ethereum and their ERC-721 and ERC-1155 token standards.
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Five Crypto Projects Are Going Mainstream This Month, Says Altcoin Dailys Austin Arnold - The Daily Hodl
Will there be a further drop in the altcoin rally? – AMBCrypto News
Whether Bitcoin hits the new ATH or not, the current volatility makes it important to check if it is likely to sustain support above the $55000 level. If Bitcoin does not sustain above the $55K level through the weekend, a drop below $47000 is likely, and then the price may be rangebound once again. To examine this we compare social volume across altcoins and Bitcoin using the weighted social volume metric by Santiment.
This metric combines the sentiment across spot and derivatives exchanges and multiplies it by the amount of social volume. Generally, the prices top out when the metric gets too high and it bottoms out when the price gets too low. Despite moving close to the recent ATH, Bitcoins weighted social volume is at its most negative sentiment in 5 months. In comparison to Ethereums weighted social volume, the largest altcoin has hit an extremely low negative level like Bitcoin, however, currently, there is anticipation that the price will drop in the short-term.
Chainlinks weighted social volume is dropping slowly to XRPs level, and once it is low enough the price may hit bottom based on previous trends.In the case of Bitcoin, the liquidity has increased and the asset closed above the 3-day ATH. There has been pullback however and the trade volume and macro drivers point at another high. It is important to watch this metric, if weighted social volume drops to further negative in the case of Bitcoin, there may be a price correction and rangebound price action instead of a high. If there is selling before the end of the week, it is expected to further increase the liquidity and prepare for the next attempt at extending the price rally.
Additionally, the percentage of Bitcoins supply on exchanges is now at a 37-month low of nearly 13%. Based on data from Kraken Intelligence, market participants continue to come to the market and accumulate Bitcoin. In the last 3 months, over 35% of Bitcoins supply was bought. According to Willy Woo, 5% of this 35% supply was bought at a price level above the $1 Trillion market capitalization. Bitcoins extended price rally is likely to lead to increased investment flow and increased selling pressure on altcoins in the following weeks.
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Will there be a further drop in the altcoin rally? - AMBCrypto News
Here Are the Top Small-Cap Altcoins That Will Beat the Market, According to Crypto Trader Tyler Swope – The Daily Hodl
Cryptocurrency trader and influencer Tyler Swope is naming three small-cap altcoins that he believes can go against the flow while the broader crypto market corrects.
In a new video, Swope tells his 201,000 YouTube subscribers that hes looking at decentralized finance (DeFi) platform Bao Finance (BAO).
He says the altcoin is worthy of investor consideration as it continues to make progress while settling down from its initial hype phase.
The xDai pools are deployed, a few minor bugs, but as we can see from the Baomans mouth: Block rewards were pushed back one more day but the farms are working and stable. User deposits can start now. Yes, the crops are ready to be farmed on xDai. They are moving exactly as planned.
Swope adds that BAO can now be used as collateral for spot trading on cryptocurrency derivatives exchange FTX.
The second altcoin on Swopes list is Deus Finance (DEUS), which is an asset tokenization platform that allows users to trade real-world assets and derivatives such as equities and commodities directly on Ethereum.
Deus is officially launching its decentralized trading platform in the next 48 hours. You will be able to trade hundreds of stocks, forex and selected cryptos on xDai without time restriction.
Swope believes that the current total value locked within the platform of $39 million will grow as the project launches a scalable synthetics platform.
The last altcoin on Swopes radar is DeFi platform Non-Fungible Yearn (NFY). According to the crypto influencer, the platform is expanding the possibilities and opportunities in the non-fungible tokens (NFTs) subsector by taking NFTs and applying it to DeFi.
They are the first DeFi protocol to utilize NFTs to make yield farming more secure and flexible by protecting the wallet and allowing the first transferable stake. What this does is create an ecosystem where instead of wallet addresses that represent the right to stake, an NFT will represent the right to the staked funds and the yield they generate. You will be able to trade your staked tokens and future yield via an NFT.
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Here Are the Top Small-Cap Altcoins That Will Beat the Market, According to Crypto Trader Tyler Swope - The Daily Hodl
Altcoin season alert! Could Ethereum be driving it again? – AMBCrypto News
With collective recoveries being the apparent theme of the week, some of the major altcoins have rallied over the past few days. Data from Binance exchange suggested BNB was up by 15%, Ethereum has risen by 6%, Chiliz token surged by 100% at one moment of time, while DOT and Cardano both rallied close to 5%.
Source: Trading View
The crypto market cap excluding Bitcoin was witnessing 5 straight green candles for the first time since early February, rising by 26% since 5 March. The trend was indicative of a rising bullish moment and other metrics were pointing toward a similar narrative.
Source: WeissCrypto
According to Weiss Crypto, the 50 top cryptos rating, excluding Bitcoin, also reached an all-time high in the charts registering an index of 14,250 in the charts. The previous high was observed on 2 February with 13,957. Weiss Crypto rating accounts for overall adoption sentiment alongside the price for a defined projection model.
Source: Twitter
With the plot of altcoins improving collectively, the line of reasoning stems from Ethereum once again, as recently it was observed that it was gaining a minor positional advantage over Bitcoin.
It isnt a trade secret that NFTs are making their presence known at the moment, with a vast majority being built on top of the Ethereum blockchain. Chiliz, as mentioned above, has witnessed massive growth due to the current NFT boom. Their partnered ACM token (AC Milan token) managed to generate $6 million in revenue less than an hour in to launch.
Source: pixiutrades
On a long-term basis, ETH/BTC is probably indicative of a breakout that may trigger a massive altcoin rally in the next few weeks. The similarity is currently drawn from the Livermore accumulation chart that is attested above. Livermore accumulation with a widening mouth has been followed before by Ethereum in the market, and the likelihood of a repeat is significant.
Source: Trading View
When both charts are compared, considering ETH/BTC breaks out over the next few weeks, the pre-determined target is around 0.064, which would extremely scale ETHs value and provide a wide platform for other altcoins to rally on. The breakout target remains at a distance and if manifested, would possibly take place around April or May.
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Altcoin season alert! Could Ethereum be driving it again? - AMBCrypto News