Category Archives: Altcoin
Three Ethereum Altcoin Projects Explode 54% or More in Just 24 Hours As Bitcoin and Crypto Markets Pop – The Daily Hodl
A trio of digital assets are leading the charge as the cryptocurrency markets rebound from a rough week of trading with the overall market cap increasing by more than 10% in a day.
First up is Optimism (OP), a layer-2 scaling solution for Ethereum (ETH) that seeks to reward participants for making contributions to the Ethereum network.
Native token OP launched on May 31st and is used for governance and allocation of network resources.
Optimism has been surging over the past 24 hours, currently up 75% and valued at $1.50.
Also vaulting up the price charts is Lido DAO (LDO), native token of decentralized staking platform Lido Finance which has garnered support from Silicon Valley-based investment firm Andreessen Horowitz.
Lido DAO is designed to build liquid staking services for different blockchains. It allows participants to earn staking awards without locking assets or maintaining a staking infrastructure. LDO can be used for collateral, lending, staking and yield farming.
Lido Finance was trading for $1.30 just two days ago but has worked itself higher in several bursts. LDO is up 58% today and trading for $2.47.
The final altcoin on the rally bandwagon is the trustless automated market maker (AMM) and cross-chain bridge Synapse (SYN).
Native asset SYN is an Ethereum token that grants holders voting rights within the protocol and rewards liquidity providers.
According to the project website, Synapse aims to resolve interoperability roadblocks that complicate both the user experience and the process of app development.
Synapse was also witnessing modest gains this week before going vertical by 54% this morning. SYN was trading for $0.92 on Tuesday but is currently changing hands for $1.81.
Amid the broader crypto market rally, traders have also seen leading digital asset Bitcoin (BTC) once again shatter the psychological resistance level of $23,000.
BTC is currently up 9.91% over the last 24 hours, priced at $23,810.
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Three Ethereum Altcoin Projects Explode 54% or More in Just 24 Hours As Bitcoin and Crypto Markets Pop - The Daily Hodl
Crypto expert hints altcoins are ‘ready to run another 100-200%’; Here’s why – Finbold – Finance in Bold
As the cryptocurrency market flashes green again, reclaiming the $1 trillion market capitalization, crypto traders and investors are carefully observing the performance of various altcoins to try and predict their further behavior.
Upon detailed examination of the altcoin market, crypto trading expert Michal van de Poppe has drawn a conclusion that these digital assets are ready for another 100-200% run from where they are at the moment, as he explained in his tweet on July 28.
Altcoins are ready to run another 100-200% from here.
To illustrate his point, van de Poppe used the example and chart of Avalanches AVAX token that shows its breaking above the 50-day moving average earlier, highlighting that the retest confirms buying pressure.
The trading expert added that he also noticed acceleration happening above $26 with all previous highs, as well as 1D bullish divergence to build on, which, according to him, indicates a possible target between $37 and $41.
Meanwhile, the crypto community over at CoinMarketCap estimated that the Cardano (ADA) token would trade at an average price of $0.711 by the end of August, a 56.20% increase from its price on July 27, as the network awaits the Vasil hardfork.
At the same time, the community has predicted that VeChains native VET token would surge by as much as 107.66% by August 31 and end up trading at $0.0486, possibly due to increased adoption, as Finbold reported earlier.
Besides altcoins, the community is also bullish on Bitcoins (BTC) near future, predicting it will breach the key psychological level of $30,000 and trade at an average price of $32,493 by the end of August, which is a 51.37% increase to the flagship digital assets price at the moment when the estimates were retrieved.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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Crypto expert hints altcoins are 'ready to run another 100-200%'; Here's why - Finbold - Finance in Bold
Top Crypto Analyst Says Traders Putting Too Much Emphasis on The Fed, Names His Top Altcoin Projects – The Daily Hodl
Popular analyst Michal van de Poppe says traders are likely over-stressing the potential impact that the Federal Open Market Committee (FOMC) will have on crypto markets.
Van de Poppe tells his 619,000 Twitter followers that based on relatively calm action in the markets, those in the space are probably overthinking todays Fed meeting.
Funny though, European stocks are doing relatively well. U.S. stocks consolidating, down a few % since recent high. Bitcoin and crypto down 15%. People within the crypto space are putting way too much value into the FOMC meeting
Van de Poppe says that Bitcoin (BTC) could go up if the interest rates increase by less than 100 bps. He says that the flagship cryptocurrency could see new local highs if it breaks out of $21, 600. At time of writing, BTC is trading for $21,102.
The markets are correcting and preferred was $21.6K to hold for #Bitcoin.
Thats a crucial breaker now too if it breaks to the upside -> new highs.
Looking at a $20.5K-20.7K area to hold for #Bitcoin going into FOMC tomorrow.
If <100bps -> upwards after.
As for Ethereum (ETH), Van de Poppe says that the second largest crypto asset by market caps fate depends on how it reacts at the $1,500 level. At time of writing, ETH is changing hands at $1,510.
Obvious support level here on Ethereum, which can be played for longs.
Question mark begins at $1,500 area, which should break and flip for continuation, otherwise retest around $1,250 possible.
But the crypto analyst says that traders put a lot of emphasis on the Fed.
Van de Poppe says that he will start to accumulating altcoins in preparation for the next bull run. He says that he is putting his money on Cosmos (ATOM), Polygon (MATIC), Avalanche (AVAX), Concordium (CCD) and SKALE (SKL).
Some projects Ill be accumulating slowly going into the next bull cycle:
$ATOM $MATIC $AVAX $CCD $SKL
I think this would be the package to get towards 20-60x returns in the next bull cycle.
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Top Crypto Analyst Says Traders Putting Too Much Emphasis on The Fed, Names His Top Altcoin Projects - The Daily Hodl
Top Ethereum Altcoin Project Appears Ready for Major Rally, According to Crypto Analyst Michal van de Poppe – The Daily Hodl
A widely followed crypto analyst says one blockchain oracle built on Ethereum (ETH) is poised for a bullish flip.
Trader Michal van de Poppetellshis 618,300 Twitter followers that Chainlink (LINK) could explode from current prices nearing $7 to upwards of $10.
Chainlink looks ready for $9.50-10.00, and theres not much you can do about that.
Trigger if flip happens.
Diving deeper into ETH, the crypto analystsayshe would be looking for shorts on the leading smart contract platform at current prices, though he sees strength in the upcoming Merge.
Technically speaking, would be a short entry on ETH here.
On the other hand, lots of strength with the merge coming up, so Id rather want to short with more conviction and confirmations.
Crucial area to hold for ETH is $1,570, if thats possible, upwards continuation.
ETH is trading for $1,562 at time of writing.
Van de Poppe alsothinksinteroperability blockchain Polkadot (DOT) has major upside potential.
Something to look at on DOT.
DOT is trading for $7.44 at time of writing.
The trader also puts his two cents in on Bitcoin (BTC),explainingwhat he thinks could happen next.
Bitcoin facing crucial resistance again.
If that breaks at $23,800, Im assuming well continue and then $28,000 is on the tables, but we also have a clear breakout above the 200-Week [moving average] confirmed.
The crypto king is currently trading for $22,941.
Featured Image: Shutterstock/GrandeDuc/Dilok Klaisataporn
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Top Ethereum Altcoin Project Appears Ready for Major Rally, According to Crypto Analyst Michal van de Poppe - The Daily Hodl
AAVE can redeem long-term investors of their losses if – AMBCrypto News
AAVE V3 has managed to gain an audience after a period of four months since its launch. The networks operations are also witnessing rapid growth.
However, the same cannot be said for the native tokens performance, as it is in desperate need of recovery.
After hitting its all-time high (ATH) in May 2021, AAVE began its journey of fall. As of 27 July, the DeFi token stood 87.09% below its all-time high. This, after falling from $412 to trade at $81.7 at the time of writing.
Its recent attempt at making a recovery seems to be failing as well since the altcoin dropped by 14.6% in the last six days.
Although this came after AAVE registered a rally worth more than 100.5%, the altcoin is still no closer to where it should be.
In the micro timeframe, the token appears to be in an uptrend, However, on a macro lens, AAVE is still in a downtrend and is also gradually losing the buying pressure it had which brought the cryptocurrency back above the $100 mark this week.
This is a matter of concern for all investors. But investors who bought AAVE at any price above $200 are more concerned since they have been facing losses for the longest time.
Furthermore, approximately 73% of the addresses bought their holdings above $200. And, only 27% of them were in profit back in July 2021.
The presence of investors in profits increased once again around September, but since then, it has been a non-stop journey of falling down.
As of 27 July, 82.5% of the addresses were in deep losses. And, the figure can jump back to zero if AAVE can rally by 674.5% to mark a new all-time high.
However, in order to do that, the altcoin will need high volatility along with a bullish market. The latter is an absolute necessity because if volatility increases during a bearish market, the price swings will push AAVE farther below the $100 mark.
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AAVE can redeem long-term investors of their losses if - AMBCrypto News
QNT Price Analysis- Can $86 Support Revert The Ongoing Correction – CoinGape
Published 1 day ago
Under the influence of a descending trendline, the ongoing correction has dropped Quant (QNT) price to its current price of $94.2. The multiple retests to this trendline indicate the traders are actively selling at this barrier. However, the coin price nearing strong support stretched from $87.6, and $74 offers a dip opportunity to interest buyers.
Source-Tradingview
A rounding bottom recovery in the QNT/USDT pair showcased a 158.6% rally from the June low of $41. This run-up reached a high of $114.03, but the coin price maintains a local top at the $110 mark.
Furthermore, the QNT buyers showcased multiple failed attempts to surpass the $110 over the past two weeks, indicating the sellers are defending this level with vigor. Thus, the altcoin reverted and tumbled 18.12%, resting the combined support of $87.6 and $0.382 Fibonacci retracement level.
On July 27th, the QNT chart shows a long-tail rejection candle at the aforementioned support, indicating traders are accumulating at this discounted price. However, early today, the coin price tried to follow up on the bullish reversal, but a new resistance trendline undermined the buyers attempt.
If the selling pressure persists, the altcoin would be pressured to break down from the $87.6 support and extend the correction phase 13.3% lower to hit $74 support.
Conversely, a bullish breakout from the overhead trendline would provide the required signal to continue the prevailing recovery.
EMAs: the rising 50-and-100-day EMA between the $87.6 and $74 support indicates this area as a suitable zone to resume recovery. Moreover, a potential bullish crossover between these slopes may attract more buying in the market.
MACD indicator- a recent bearish crossover among the fast and slow lines encourages the resumption of the correction rally, which may plunge the price below the $87.6 support.
From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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QNT Price Analysis- Can $86 Support Revert The Ongoing Correction - CoinGape
Overlooked DeFi Altcoin Skyrockets Over 720% in a Week Ahead of Projects Anticipated New Update – The Daily Hodl
An altcoin from the decentralized finance (DeFi) sector has outperformed the entire crypto market by a large margin over the past seven days as the project gears up for its next phase.
BarnBridge (BOND) is a cross-platform risk management protocol aiming to allow users to minimize the risks associated with DeFi.
BOND, BarnBridges ERC-20 token used for governance and staking, skyrocketed this week from a low of $2.94 to a high of $24.11, marking a surge of over 720% in just seven days.
The rally comes in anticipation of the projects latest update. BarnBridges Twitter page says that the release of version two (V2) of the project is in sight.
This is your reminder that BarnBridge v2 is coming. Audits are under way and sustainable fixed yield is on its way.
Looking at BarnBridges Discord server, co-founder Tyler Ward says that most of the frontend and backend code for the update will be done by August.
Code is coming along. We are at the phase where things feel like they are happening faster than you expect vs. slower than you expect which is a sign that things are coming together and timelines get more realistic.
At this point, since we have an amazing audit firm who is letting us submit changes ongoing through the audit, weve been able to update the frontend and backend in sync.
I think well be done with the code base frontend/backend (with changes from audit) by August 9th. We still have some back end work to do. From there, well probably have a week where we start pushing things out via a soft launch.
At time of writing, BOND has slightly retraced from its weekly highs and is trading at $22.16.
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Overlooked DeFi Altcoin Skyrockets Over 720% in a Week Ahead of Projects Anticipated New Update - The Daily Hodl
Uniswap Fights Off Bears As Ethereum Leads Altcoins To Price Fall – FX Empire
Key Insights:
The broader market was in decline today, losing $28 billion in the span of just 24 hours, slipping below the $1 trillion mark.
Uniswap alone managed to keep itself still away from the bears, while Bitcoin and Ethereum both depreciated to $21,888 and $1,520.
Uniswap has been one of the best-performing cryptocurrencies for a while as it managed to recover the losses it witnessed during the June and May crashes.
After rising by 6.24% in the last 48 hours, UNI is now headed to recover the 41.56% losses it encountered during the April dip, which caused UNI to fall below the $10 mark.
Looking at the price indicators, it seems like UNI could be heading in either direction but possibly in favor of a downtrend.
The Parabolic SAR is already placed above the candlesticks and could stay there given the uptrend dominated the altcoin for more than three weeks.
Furthermore, the MACD is also on the verge of losing its bullish crossover to the bears as the red bars appearing on the indicator are gaining strength.
If the condition is met, the indicator could note bearish cues and place Uniswap in a downtrend.
The altcoin king is on the same path as the rest of its subjects, trading at $1,529. For the last one week, ETH has remained unmoved from this zone as it struggles to breach above the $1,600 mark.
However, it does have room to rise as the price indicators continue to flash bullish signals.
Firstly the Bollinger Bands divergence indicates that ETH could be facing high volatility over the coming days, but given that the candlesticks are above the basis of the indicator, the price swings that follow will keep the price positive.
Additionally, the altcoin has not lost the buying pressure that helped the previous rally and could also prevent ETH from facing extravagant losses.
As long as the Relative Strength Index (RSI) remains below the overbought zone (80.0), it will be safe from a trend reversal as well.
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Uniswap Fights Off Bears As Ethereum Leads Altcoins To Price Fall - FX Empire
Algorand traders need to know this before they make their first trade – AMBCrypto News
The last few days have seen a different state of the cryptocurrency market. The one in which recovery is at the fore.
Most cryptocurrencies have left their bearish comfort zones and have stepped out in search of more demand. However, Algorand [ALGO] seems to be an exception in this case.
The altcoin hasnt been able to recover its losses. Investors of other cryptocurrencies have noted some gains. But ALGO investors are entirely at a loss despite the broader market capitalization rising to $1.05 trillion at press time from $841 billion.
ALGO lost more than 60.5% throughout May and June. Since then, the altcoin has not been able to recover from the loss.
Well, from the lows of $0.27, Algorand has only risen by 24.25% to date. However, other altcoins such as Lido DAO have jumped by more than 320%.
Trading at $0.36 on 20 July, the altcoin has noted a significant depreciation from its all-time high. And, sadly, the situation is not appearing to be recovering.
This is because despite observing positive cues from price indicators, ALGO is susceptible to saturation which will ultimately flip its momentum.
The Average Directional Index is yet to gain strength for the active trend, which the Parabolic SAR indicates is an uptrend.
Now even if one speculates a possibility where the ADX crosses the 25.0 threshold and provides ALGO the strength it needs to rally, it will soon be countered by the selling pressure.
This is visible on the Relative Strength Index (RSI), which was very close to the overbought zone on 20 July.
Given the bullishness coming from the broader market, the altcoin is bound to hit the overbought area, which will trigger a trend reversal for Algorand unless the crypto market enters a bull market, which is far from being the case right now.
Not to forget, the occasional breakout upwards might also act as a false trigger for investors.
Most of these investors are desperately waiting for recovery. 94.2% of them havent seen any sight of profits in about seven months now.
Thus, unless an external factor triggers a rally for ALGO, the investors potentially are beyond the point of return.
There is a significant potential bullish trigger in the form of the FIFA Womens World Cup, where Algorand is an official sponsor, but since the event is a year away, it may not have any effect on the altcoin right now.
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Algorand traders need to know this before they make their first trade - AMBCrypto News
This Solana-Based Altcoin Is One To Watch This Month, Says Top Crypto Analyst Heres Why – The Daily Hodl
Closely followed crypto analyst Justin Bennett is eyeing one move-to-earn altcoin for a potential rally to the upside.
Bennett tells his 102,000 Twitter followers that blockchain-based fitness and lifestyle app STEPN (GMT) could possibly see a major breakout from a symmetrical triangle formation.
GMT is one to watch this month.
Points to a 40% move when this breaks.
What do you think bullish or bearish?
The crypto analyst follows up by highlighting a recent pattern of STEPN posting higher lows, asking,
How about now?
At time of writing, STEPN is surging by nearly 21% over the last 24 hours and trading for $1.11. Looking at Bennetts chart, his targets for GMT when it breaks out are $1.28 and $1.65.
In a recent announcement, STEPN said it generated over $120 million worth of profits from April through June through platform fees, 5% of which will be allocated for token buybacks and burning.
The remaining capital will be used to enhance security, hire new team members and produce branded merchandise among others.
Economist Alex Kruger also weighed in on STEPN, telling his 140,600 Twitter followers hes surprised by the tokens strength despite negative trends within two key data points.
The STEPN rewards token has nuked 99% while new users are trending down to zero.
Surprising how GMT is holding up.
STEPN, which launched in early March, experiencedmassive growth until momentum stalled starting around the end of May.
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This Solana-Based Altcoin Is One To Watch This Month, Says Top Crypto Analyst Heres Why - The Daily Hodl