Category Archives: Altcoin
Heres Whats Ahead for Solana, Avalanche and One Low-Cap Altcoin, According to Top Crypto Analyst – The Daily Hodl
A widely followed crypto strategist is outlining whats in store for Ethereum rivals Solana (SOL) and Avalanche (AVAX) as well as one under-the-radar altcoin.
Pseudonymous analyst Altcoin Sherpa tells his 178,300 Twitter followers that smart contract platform Solana could be carving a local bottom after losing 90% of its value from the all-time high.
SOL: -90% from the peak. This isnt a bad area to start accumulating for longer terms if you are looking for an alternative layer-1. I think its one of the best choices given its non-Ethereum Virtual Machine, to be honest.
Low timeframe, it looks decent to be honest. $45 could come in the mid-term if BTC plays nice.
At time of writing, Solana is changing hands for $38.26, up over 13% in the last 24 hours.
Next up is fellow smart contract platform Avalanche, which Altcoin Sherpa predicts is poised for a relief rally with targets at $22 and $28.
AVAX: Its not a bad idea to want to accumulate and my $12 target never hit. I think a bearish retest is probably coming, not the macro bottom quite yet in my opinion.
At time of writing, AVAX is trading at $17.96, up nearly 8% in the past day.
The last coin on the traders radar is the utility token of the Ethereum-based NFT marketplace LooksRare (LOOKS). According to Altcoin Sherpa, LOOKS is short-term bullish after taking out its immediate resistance at $0.30.
LOOKS: Lolnice break. This is one to consider longing on a dip. Still highly bearish market structure but this is showing a lot of strength.
LOOKS is currently valued at $0.42, up over 21% in the past day.
Featured Image: Shutterstock/Agung Afriady/Sol Invictus
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Heres Whats Ahead for Solana, Avalanche and One Low-Cap Altcoin, According to Top Crypto Analyst - The Daily Hodl
Coinbase Triggers 107% Altcoin Explosion After Listing Slew of Ethereum-Based Crypto Assets – The Daily Hodl
One decentralized finance (DeFi) altcoin is surging after being added to top US crypto exchange Coinbases roster of digital assets.
Coinbase says DeFi Yield Protocol (DYP) and five other Ethereum-based altcoins will start trading paired with Tether (USDT) once appropriate liquidity conditions are met.
DeFi Yield Protocol aims to offer users the ability to stake Ethereum (ETH), Binance Coin (BNB) and Avalanche (AVAX) to earn a fixed 25% APR (Annual Percentage Rate).
The project website says DYP is working on a wide scope of products for the decentralized ecosystem, seeking to be accessible for both beginner and advanced users through a combination of DeFi, non-fungible tokens (NFTs) and metaverse gaming.
DeFi Yield Protocol is up a massive 107% on the week and trading for $0.43.
Also joining Coinbase is the data privacy protocol HOPR, which aims to resolve what it calls the Achilles heel of Web3 by obscuring metadata to preserve transport layer privacy.
At time of writing, HOPR is in the green by nearly 5% on the day and changing hands for $0.13.
Next up is Math (MATH), a modular blockchain thats developing a crypto wallet that goes beyond storing tokens by also serving the needs of applications.
Math is also surging, up 19.39% on the day with a going rate of $0.14.
Another altcoin joining Coinbase is the blockchain transaction tracking protocol PARSIQ (PRQ), which monitors blockchain events in real-time and provides analytics options for a variety of industries.
The Ethereum-based PRQ token powers the projects ecosystem. Holders can lend their tokens and earn passive income through staking in liquidity pools.
PARSIQ is rallying by 10.34% on the day so far and is valued at $0.14.
Elastos (ELA) is a decentralized and community-based ecosystem thats geared to embrace all of Web 3.0s potential. The project offers tools for app developers and designed a crypto wallet called Essentials.
Elastos is currently down nearly 6% with an asking price of $1.53.
Last on the list of new Coinbase assets is Aleph.im (ALEPH), a decentralized cloud computing tool that aims to simplify the implementation process for DeFi and Web3 users.
At time of writing, Aleph.im is off by nearly a percent and priced at $0.25.
Featured Image: Shutterstock/teez/Nikelser Kate
Bot Known for Outperforming Crypto Markets Unveils Altcoin Selections Amid Wild Bitcoin and Ethereum Price … – The Daily Hodl
A robot with a reputation for outpacing the crypto markets is revealing its latest portfolio allocations as Bitcoin (BTC) and Ethereum (ETH) weather high volatility.
Each week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a hive mind consensus.
The bots newest data finds that traders risk appetite is at historic lows with most market participants flocking to Bitcoin, Ethereum and stablecoins, with 60% of participants voting to overweight their portfolios with both USD Coin (USDC) and BTC.
Besides BTC and USDC, 40% of participants voted to have allocations to Ethereum and Solana, with 20% selecting decentralized exchange asset Uniswap (UNI).
Latest results of the Real Vision Exchange crypto survey. Risk appetite is at an all-time low with votes to overweight USDC at 60%. Percentage of participants who voted for overweight:
1. Bitcoin 60%
2. USDC 60%
3. Ethereum 40%
4. Solana 40%
5. Uniswap 20%
Other prominent digital assets that participants voted as overweight include oracle network Chainlink (LINK), smart contract platform Fantom (FTM), decentralized application-creating protocol Hedera Hashgraph (HBAR), and decentralized exchange SushiSwap (SUSHI), all at 20%.
Fan token network Chiliz (CHZ), permissionless liquidity protocol THORChain (RUNE), supply chain management blockchain VeChain (VET), and payments-focused XRP were all left completely out of the bots portfolio allocation.
The Real Vision Bot was co-developed by quant analyst and hedge fund CEO Moritz Seibert and statistician Moritz Heiden.
Real Vision founder and macro economic expert Raoul Pal has called the bots historic performance astonishing, saying it outperforms an aggregated bucket of top 20 crypto assets on the market by more than 20%.
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Bot Known for Outperforming Crypto Markets Unveils Altcoin Selections Amid Wild Bitcoin and Ethereum Price ... - The Daily Hodl
When Altcoin season arrives Keep an eye on Hedera (HBAR), Decentraland (MANA) and Chronoly.io – Cyprus Mail
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Litecoins MWEB To Help LTC Be The Ideal Altcoin Amidst Crisis? Is A 20% Price Hike Now On Cards? – Coinpedia Fintech News
The recent holocaust in the crypto-industry has called for the masses to look out for ideal cryptocurrencies to fight against the odds. Successively, projects focussing on privacy like Litecoin (LTC) and Monero are now rising towards the limelight.
Talking about Litecoin, the altcoin is in talks for its notable feats with its MWEB extension. Meanwhile, a number of proponents are now advocating in favour of the digital asset, citing its strengths over its direct rivals. Dive in as this write-up covers the reasons behind the growing favouritism around Litecoin.
In a recent feat, Litecoins MWEB usage sky-rocketed in numbers. The balance chart has shot-up and is now approaching the 4000 LTC mark. Partisans believe Litecoins confidential transactions with MWEB helps maintain privacy, whilst improving scalability. Which justifies the spike, and would probably continue to rise higher.
On the other hand, the active addresses on Litecoin have left Ethereum behind by almost 2:1. Litecoin reportedly boasts 2 Million more active addresses than that of the largest altcoin. Conversely, Litecoins dormant amount chart, which portrays LTC to a cumulative sum in dormant addresses. Has been on an incline of late, and the projection has been soaring rapidly since 2021.
A proponent on Twitter with the handle Trader Rocko cites that since Litecoin is not owned by hedge funds and venture capitalists. It gives Litecoin an edge over rivals in odd market conditions. He believes if 3AC and other firms get margin-called, heavily invested altcoins will dump hard. Whereas, LTC will survive and chug up to the next halving.
LTC price at the time of publication is changing hands at $52.99 with gains of 1.35%. While the market capitalization is presently hovering around $3,738,679,950. The volume of trades for around the clock is down by 37.99% at $756,782,630.
The altcoin has been ranging in the 24-hour bandwidth from $51.77 to $54.32. The RSI of the crypto asset is presently at 45.16 and is escalating towards the equilibrium region. Which justifies the growing volumes. Whilst a bullish push in volumes will help LTC price surge by 34.87% to $72.85. On the flip side, a reversal in trends could call for the support at $45.
Summing up, the digital token is also now closer to its 120 Millionth transaction and has been accelerating rapidly in the mist. This advocates the growing optimism around cryptocurrency. Moreover, the Mimble Wimble Extension will bear fruitful results for LTC, which could surge to greater heights.
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Litecoins MWEB To Help LTC Be The Ideal Altcoin Amidst Crisis? Is A 20% Price Hike Now On Cards? - Coinpedia Fintech News
BTC Is the Only Crypto; Altcoins Are Centralized, JAN3 CEO Argues – CoinQuora – Live Crypto News
Samson Mow, the CEO of JAN3 and Pixelmatic, the development studio behind Infinite Fleet, said Bitcoin (BTC) is the only cryptocurrency, adding that most altcoins are mere centralized protocols that pretend to be decentralized.
He made the statement on June 21 in an interview with Consumer News and Business Channel (CNBC).
Mow said Bitcoin is a decentralized peer-to-peer network of money, money reimagined, money 2.0 qualities, which, according to him, other coins lack.
When asked to pitch the idea of cryptocurrency, he first said people in the industry have largely misinformed the public. He accused Brian Armstrong, the CEO of Coinbase, as one of the guilty parties that conflicted Bitcoin with crypto. In his words:
Bitcoin is not a crypto. The crypto market is unlicensed securities. So you have 20,000 of these things, and more are printed daily. So if you lump Bitcoin in the same bag as crypto, youre confusing [the masses] either deliberately or because of malice or incompetence and thats what harms them because they do not understand that Bitcoin is not like those other things.
He also cited the Terra LUNA 1.0 fiasco and Celsius, the crypto lender that froze users accounts, as examples of altcoin projects with no value. Theyre just minted tokens out of thin air, he concluded.
Many Twitter users agree with Mows opinion about BTC. User @HODLBitty even said, We need all bitcoins to start going on the offensive like this in the media.
When asked about how to store Bitcoin, Mow said the best thing to do is to take possession of your coins and keep them in a hardware wallet.
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BTC Is the Only Crypto; Altcoins Are Centralized, JAN3 CEO Argues - CoinQuora - Live Crypto News
WAVES makes a big splash, but heres why volumes could be key – AMBCrypto News
WAVES saw some ripples in its price action over the weekend after re-testing support near the $4.20-price level. Those ripples eventually turned into a strong bullish wave, one propelling the altcoin into the list of top gainers for this week.
WAVES hovered just above its current structural support around $4.20 during the weekend after last weeks bearish performance. This is the same level where the price found support towards the end of May. While WAVES noted some upside over the weekend, the bulls demonstrated their strength on Tuesday.
WAVES soared as high as $7.20 on Tuesday after a 43% rally. It peaked at $7.28 on Wednesday morning, before seeing a slight pullback to its press time price of $6.58. Its weekly performance was still up by 49%, despite the slight decline.
The uptick was fueled by strong demand highlighted by the MFI. The slight pullback near its latest highs took place after the price encountered some friction near its 50% RSI level.
However, there is more to WAVES latest performance than demand near the support line.
WAVES uptick happened at around the same time that its network registered a strong increase in NFT trade volumes. Total NFT trade volume increased from $663k on 17 June to peaking at $8.07 million on 19 June. Now, while it fell to $1.46 million by 21 June, this NFT activity preceded the alts latest rally. In fact, this may have been the catalyst that triggered the strong price uptick.
The supply held by whales does not reflect the cryptos price action, however. It did, on the contrary, signify some accumulation courtesy of its uptick on 17 June. It has since registered outflows though.
On-chain volume increased significantly on 21 June, coinciding with its strong rally on the same day.
The supply held by whales metric also underscores the lack of strong buying pressure this week. WAVES might thus fail to maintain its latest rally due to these reasons, coupled with the unfavourable market sentiment.
However, its bullish performance this week is a sign that it is starting to see healthy volumes. Especially after a lackluster performance in the second half of May.
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WAVES makes a big splash, but heres why volumes could be key - AMBCrypto News
Solend Safeguards Its Users And Funds, As Whale Takes In-Charge! But Is Solana (SOL) Now In A Bigger Trouble? – Coinpedia Fintech News
The folks from the crypto town have been probing the credibility of Solana, ever since it had its first DDoS attack. Fast forward to this date, the top-tier blockchain has been a victim of a number of congestions and troubles. In a very recent event, Solanas lending and borrowing protocol Solend. Has been in question of, its initiative of taking over a whale account.
While the protocol has withdrawn the proposal and is now in contact with the account holder. Proponents from the coin market have rolled-up their sleeves to cross-check the matter and get the facts right. Successively, the findings are now questioning the credibility of the network. Buckle-up as this write-up explores the ins and outs of the matter.
From one of the updates covered by CoinPedia, the other day. We are now aware of the fact that Solend has withdrawn its proposal to take over the whale account. In continuation to the same, we now have more facts in hand. Which aims to demystify the matter around Solanas lending and borrowing protocol Solend.
Crypto investor and analyst Miles Deutscher in a Twitter thread highlights the bustle around Solend. The proponent brings to light that, despite the backlash to SLND1 by the masses, the proposal saw 97.5% votes in its favour. He cites that over 90% of the votes were issued by a single user. The partisan calls it a fundamental flaw in the system, as the voting power depends on the users DAO holdings.
With the community going through internal disputes, the lending protocol had called for a new proposal to invalidate the older one. While the move is a welcoming one, the presence of DAO comes into question. The happenings around Solend have been questioning the sole purpose of decentralisation, and that of the networks centralisation.
Summing up, after all the hustle, the team has confirmed that the whale account is now in contact with the team. And that the whale is now moving its funds. That said, veterans from the business are now pointing at Solana for its reliability. However, the price of SOL has taken little to no brunt. The altcoin is presently trading 4.65% higher at $37.2.
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Solend Safeguards Its Users And Funds, As Whale Takes In-Charge! But Is Solana (SOL) Now In A Bigger Trouble? - Coinpedia Fintech News
Graph Price Analysis: High Volume Reversal may Drive GRT to $0.15 – CoinGape
Published 2 days ago
The Graph(GRT) price surpasses the long-coming resistance trendline with a reversal from the $0.093 support level. The increased demand for the altcoin brings a reversal as the overall market takes a break from the falling trend. Will GRT buyers capitalize on this halt in the bear market to reach the $0.15 mark?
Source- Tradingview
On June 11th, the GRT sellers breached the $0.128 price action level resulting in the descending triangle breakout. However, the fallout rally failed to drive the price far from $0.10 as the trend took a bullish turnaround from the $0.093 mark.
The bullish turnaround surpasses the resistance trendline and forms a rounding bottom reversal pattern with the neckline at $0.128. The reversal starts after a series of long-tail candles and propels the GRT price by 27% higher in the last four days.
Today, the GRT price has jumped 7.97% and teased a bull run to the overhead resistance at $0.128. However, buyers hoping to ride the bullish raid can find a safer entry spot at the neckline breakout.
A bull run above the $0.128 neckline can drive the breakout rally to the next supply area at $0.20 if GRT price undermine the selling pressure at $0.15.
On the opposite end, the failure to surpass the overhead resistance can result in a sideways trend between $0.10 and $0.128.
MACD indicator: The fast and slow lines regain the bullish alignment and undermine the previous bearish crossover. The resurging bullish histograms represent a surge in buying pressure and add points to the bullish breakout theory.
Bollinger Bands: the bullish reversal launches from the lower band and prepares to take on the midline.
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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Graph Price Analysis: High Volume Reversal may Drive GRT to $0.15 - CoinGape
MATICs last 80 days have this to say about the cryptos fortunes – AMBCrypto News
Traders and investors holding on to Polygon [MATIC] may have spotted a 10% uptick in price over the last 24 hours. In doing so, they may have assumed that a bullish run was underway. Unfortunately, they would be wrong.
With an index price of $0.3637, the crypto has dropped back to its April 2021 levels. With the MACD poised for a bearish run, the three month-long decline in price might be far from over.
Struggling to keep the bears at bay, the Relative Strength Index (RSI) and the Money Flow Index (MFI) have been stationed below 50 for three months. Within that period, the RSI went as low as 22 on 12 May. The MFI also touched a low of 13 on 11 April. At press time, the RSI and MFI were deeply oversold at 31 and 18, respectively.
While the latest uptick in the price of MATIC might give investors a false sense of recovery, it is trite to point out that recovery is still far from sight. Looking at the 50 EMA showed the EMA line resting comfortably above the price.
This is indicative of a bearish bias. Also, implying a renewed bear run, the MACD line on 12 June intersected the trendline in a downward curve.
The position of the exchange flow balance metric for MATIC lent credence to its bearish outlook. With a reading of -13.74 million at press time, a price drop down seemed imminent.
A review of MATICs on-chain performance over the last three months revealed a decline in the number of new addresses created on the network daily.
After registering a high of 3357 on 12 May, the networks growth took on a downtrend. At the time of writing, it had recorded a 50% drop to be pegged at 1,672 new addresses.
Whale accumulation of the altcoin has embarked on a steady decline since mid-May. After recording a total count of 1,079 transactions between 10 and 13 of May, the count for whale transactions above $100k has since taken a beating.
Since 13 May, a 62% decline has been registered. For transactions above $1 million, an 88% drop in count has been recorded since the high on 13 May.
In addition to this, active deposits on the network have dropped steadily since 11 May after a high of 661.
So far this year, the Polygon Network has introduced some updates to its ecosystem. These updates include the Green Manifesto and its Carbon Neutral project. However, with a sustained decline in price, more has to be done by the network in order to retain its investors.
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MATICs last 80 days have this to say about the cryptos fortunes - AMBCrypto News