Category Archives: Altcoin
One Sector of Altcoin Market Will Get Quashed Once Regulation Arrives, According to Top Crypto Analyst – The Daily Hodl
A popular crypto analyst says that regulation will deter institutional investors from entering one sector of the altcoin space.
In a new interview, the host of financial education YouTube channel InvestAnswers unveils why he is skeptical about investing in privacy coins, which are cryptocurrencies that obscure transaction information, allowing users to maintain anonymity and hide their activities.
For privacy coins to succeed, they need to raise institutional money. I know the people out there in the audience believe that things like VCs (venture capitalists) are bad, but if VCs are bad, there would never be anything like Microsoft or Hewlett-Packard or Google or Facebook or Tesla or SpaceX.
These are the people behind all these successful companies, and the problem with secret coins is they will always be viewed under a very high regulatory scrutiny, and therefore, institutional investors will not invest
I do believe theres a need, but as regulation comes, these are the first things that are going to get quashed. Theres no price upside as well and looking at the tokenomics as well of SCRT token, I wouldnt touch it: no max supply, very little distributing. It doesnt look like a good thing.
As for Bitcoin, the crypto strategist says BTC is still considered a risk-on asset.
Its tied to like a tech stock, and we are seeing that exact behavior. Like with the Bitcoin conference going on right now, I think people are expecting huge breakthrough news and if that doesnt happen, therell be a lot of disappointment. I also see a lot of money flow into different assets. Bitcoin isnt the big black hole. It is the hardest, most pristine asset on Earth, but theres so many distractions now to place your money.
After going above $47,000 this month, BTC is now exchanging hands for $42,246.31.
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Crypto Giant Coinbase Reveals List of 50 Altcoins Under Consideration for Listing – The Daily Hodl
Crypto exchange giant Coinbase is announcing dozens of digital assets that it will potentially list during the second quarter of 2022.
From the 1st of April to the 30th of June, Coinbase says it is considering listing 45 Ethereum (ETH)-based tokens and five Solana (SOL)-based tokens.
The crypto exchange says it is providing the information in advance to increase transparency on new asset listings.
Starting immediately and as part of an effort to increase transparency by providing as much information symmetry as possible, Coinbase will be using this blog post as a pilot to communicate assets under consideration for listing in Q2 2022.
Among the Ethereum-based tokens that Coinbase is considering for listing include stablecoins backed by rival crypto exchanges Binance and Gemini Binance USD (BUSD) and Gemini Dollar (GUSD).
Another notable Ethereum-based altcoin under consideration for listing is the native token of decentralized finance platform Coin98 (C98).
One of the notable digital assets based on the Solana blockchain being considered for listing by Coinbase is the utility token of the lifestyle crypto project STEPN (GMT).
Since early March when GMT was initially listed at $0.01, the utility token of the lifestyle crypto project has stood out by surging by over 22,000% in a largely see-sawing market. GMT is trading at $2.25 at the time of writing.
The majority of the tokens that are under consideration for listing during the second quarter are relatively unknown and with low market capitalization.
The list of 50 Ethereum and Solana-based tokens that Coinbase is considering for listing comes a little over a month since the crypto exchange announced that it would be bringing on more, often newly created assets or lesser-known tokens that could come with additional trading risks, including higher price swings and increased order cancellations.
Currently, Coinbase supports around 168 crypto assets.
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Crypto Giant Coinbase Reveals List of 50 Altcoins Under Consideration for Listing - The Daily Hodl
Payments-Focused Altcoin Soars 59% in Just One Day As Bitcoin and Ethereum Search for Support – The Daily Hodl
As Bitcoin (BTC), Ethereum (ETH) and the broader crypto markets weather a significant correction to the downside, one altcoin is defying the trend with big rallies.
At time of writing, banking and payments-focused altcoin project MinePlex (PLEX) is up 59% in the last 24 hours, and 119% over the last 30 days.
MinePlex is a mobile digital bank meant to give users the ability to use crypto and fiat for payments, banking operations, and transfers.
Its ecosystem so far consists of four main components, including its payment system MinePlex.Money, business development platform MinePlex.Payment, online store MinePlex.Marketplace and its new digital banking app called MinePlex.Finance.
MinePlex.Finance was launched last week, and according to a press release, is a service that aims to bridge PLEX tokens with main fiat currencies.
MinePlex.Finance is independent from the MinePlex platform, although it requires the use of the projects own PLEX tokens in order to utilize it. It comes as an advanced solution that can be used as a digital account, a payment app, or a mobile wallet for PLEX tokens and the main fiat.
Following the launch of the new app, PLEX underwent a trend reversal, jumping from the $1.00 mark to $1.10 by the daily close. It then reached the $2.00 level less than six days later, and at time of writing, has held onto most of its gains. Its currently trading for $1.97.
In the same time frame, Bitcoin (BTC) has gone down roughly 12% while Ethereum (ETH) is trading 14% lower than last week.
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Payments-Focused Altcoin Soars 59% in Just One Day As Bitcoin and Ethereum Search for Support - The Daily Hodl
Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin – The Daily Hodl
A closely followed crypto strategist is predicting deep pullbacks for Waves (WAVES), ApeCoin (APE) and one other altcoin as the digital asset market takes a breather.
Pseudonymous strategist Altcoin Sherpa tells his 171,500 Twitter followers that he sees custom token and decentralized application creation platform Waves correcting all the way down to $20.
WAVES: Say goodnight.
With Waves currently exchanging hands for $29.41, Altcoin Sherpas target represents a 32% potential downside.
Next up is APE, an altcoin created for the Bored Ape Yacht Club non-fungible token (NFT) community. According to Altcoin Sherpa, APE could retrace back to $9.50, which is about 17.5% below its current price.
APE: Long out of my position; would be willing to buy this one much lower. $8.00 or so. There should be a bounce at $9.50ish though, likely a good scalp entry.
ApeCoin is trading for $11.53 at time of writing,
The trader is also keeping a close eye on Zilliqa (ZIL), a smart contract-enabled blockchain for enterprise solutions. He says that ZIL could further correct to $0.11 after posting a massive 375% rally that saw it spike from $0.05 to $0.218 in just a few days.
Better to short these types of coins than BTC if you think BTC is bearish. [The] reason is that these had their blowoff tops already and will likely go down if BTC pumps and dump even harder if BTC dumps. Target =$0.11.
At time of writing, ZIL is valued at $0.127. A correction to Altcoin Sherpas target marks a downside risk of nearly 15%.
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Crypto Analyst Warns Deep Corrections in Sight for Waves (WAVES), Apecoin (APE) and One More Altcoin - The Daily Hodl
Analyst Says One Altcoin Has Best Looking Chart in All of Crypto, Updates Outlook on Two Ethereum Rivals – The Daily Hodl
A veteran trader says one Ethereum-based altcoin has the best looking chart on the market and that two ETH rivals are set to rally.
The pseudonymous crypto trader known as Cantering Clark says that hes watching Frax (FXS), an algorithmic stablecoin system.
Based on the traders analysis, FXS can potentially run to his target at $42.
There is no better looking chart right now.
The closely tracked analyst also has his eye on smart contract platform Avalanche (AVAX). According to Cantering Clark, AVAX also has a uniquely strong market structure, threatening to print fresh 2022 highs.
Would you just look at how technically sound AVAX looks for a move to the highs.
At time of writing, AVAX is trading for $99.36.
Cantering Clark also says decentralized application (DApp) platform Near (NEAR) is gearing up for a strong rally. He points out that NEARs last daily candle exceeded both of the previous two and says it could be on its way above $17.
Send NEAR up through the gap already. Bullish engulfing candle of the last two-day range and above the range highs.
Late last year, the NEAR ecosystem announced an $800 million fundraising effort to stimulate growth for its native projects and startups. With half of the funding already distributed, Cantering Clark says traders should take notice.
NEAR protocol with over $400 million in funding for the ecosystem announced. Tailwinds during a time like this. Use it to your advantage until it stops working.
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Altcoin Ecosystem Built on Ethereum (ETH) Primed for Serious Gains, According to Closely Followed Crypto An… – The Daily Hodl
A popular crypto trader thinks one decentralized finance (DeFi) altcoin built on Ethereum (ETH) is on the verge of a big recovery.
The pseudonymous crypto analyst Credible tells his 320,600 Twitter followers that Ethereum-based Curve Finance (CRV) is revving its engines.
Curve is trading at $2.91 at time of writing. Credible thinks the DeFi altcoin could revisit the mid $2 range if Bitcoin (BTC) corrects back to the low $40,000s. He also predicts CRV will bounce back to the $4-$5 range soon. The crypto asset hasnt reached those heights since mid-January.
Credible predicts BTC will retest the low $40,000s in the short term, though he thinks the top-ranked crypto asset by market cap is primed to continue marching upwards after that dip.
Bitcoinis trading at $46,890.63 at time of writing.
Credible is also predicting a pullback for DeFi altcoin Convex Finance (CVX).
Convex, which offers no withdrawal or minimum performance fees, rewards liquidity providers andCRV stakers on the Curve Finance exchange. CVX can be staked into Convex Finance to earn a share of Curves liquidity pool earnings.
$40 resistance hit may see a bit of a pullback here before continuation. Dips to the $20-$30 region are buy opportunities. Bribes/incentives this round also coming in at around $0.80 per vlCVX. Nearly 2x the last round which was just two weeks ago.
CVX the gift that keeps on giving.
CVX is trading at $37.28 at time of writing.
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Altcoin Ecosystem Built on Ethereum (ETH) Primed for Serious Gains, According to Closely Followed Crypto An... - The Daily Hodl
3 Cryptos to Keep an Eye on Following Their March Rise – InvestorPlace
After a volatile few months, prices for cryptos are finally showing signs of stabilization and even recovery. InvestorPlace.com readers will well remember that the global cryptocurrency market capitalization (cap) surpassed $3 trillion in November 2021. But then it plunged to $1.5 trillion by January 2022.
As of today, the market cap is around $2.1 trillion territory. Meanwhile, the surge in crypto prices in 2021 sparked a new wave of investments, including exchange-traded funds (ETFs).
For instance, in October 2021, the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) became the first U.S.-listed ETF that provides exposure to Bitcoin (BTC-USD) futures contracts. The BITO ETF has lost over 5% year-to-date (YTD).
Another fund, the Bitwise 10 Crypto Index Fund (OTCMKTS:BITW), has soared 10.7% over the past month, yet trades at 60% below its price a year ago. This fund provides diversified exposure to bitcoin and leading cryptos.
While we may see fewer cryptos reach new record highs this year, crypto bulls are always on the lookout for the best altcoins to buy. A recent Mordor Intelligence report forecasts that the global cryptocurrency market is poised to grow at a whopping compound annual growth rate (CAGR) of over 60% by 2026.
With that information, here is my selection of three cryptos that could gain significant traction in the coming months:
Our first crypto is Cronos(CRO-USD), formerly known as Crypto.com Coin. Thus, the fortune of CRO-USD istied to the blockchain network associated with the Crypto.com ecosystem.
This platform has doubled its user base since the end of 2020 to over 10 million users worldwide. CRO-USD is designed to allow users to make cryptocurrency payments to merchants globally. The token serves as an intermediary currency that allows for the conversion of cryptocurrencies to their fiat counterparts at a low cost.
The network boasts partnerships with Formula 1owned by Liberty Media Formula One(NASDAQ:FWONA), the Philadelphia 76ers, Paris Saint-Germain, and the Ultimate Fighting Championship (UFC). Moreover, Crypto.com bought naming rights to Lakers Staples Center over the next 20 years in a deal worth $700 million.
CRO-USD hit an all-time high (ATH) of $0.9698 in late November. The altcoin has gained over 50% during the past year. Its market cap of $11.35 billion positions it as the 19th largest altcoin.
Our second altcoin, Polkadot(DOT-USD), was launched by the Swiss-based Web3 Foundation. Its objective is to increase the scalability and speed necessary for blockchains to go mainstream. Polkadot essentially serves as an intermediary in apps where various blockchains can run independently in a single network.
Parachains are the diverse individual layer-1 blockchains that run in tandem within the Polkadot ecosystem. Then Polkadot connects multiple parachains into a unified network. As a result, there can be a cross-chain transfer of data or digital assets between Ethereum (ETH-USD) and other blockchains.
The network boasts a booming ecosystem of projects that range from decentralized finance (DeFi) tonon fungible tokens (NFTs). Examples include the NFT cross-chain trading system Efinity (EFI-USD); decentralized trading exchange Mangata X; and Moonbeam Chain, which runs Ethereum compatible smart contracts.
DOT-USD is the native cryptocurrency used to make transactions, govern or create parachains. The altcoin hit a record high of $55 in early November. Over the past year, DOT-USD has declined roughly 50%. It ranks as the 11th largest altcoin with a $19.7 billion market cap.
The final crypto on our list is Terra(LUNA-USD). It is a blockchain protocol that uses fiat-pegged stablecoins to power global payments systems. It is built on the Cosmos(ATOM-USD) platform, which relies on a proof-of-stake (PoS) consensus mechanism that can finalize transactions in just six seconds.
Terra is built around two cryptocurrencies. While Terra-backed stablecoins like TerraUSD (UST-USD) are connected to the value of physical currencies, LUNA-USD is designed to mint more Terra stablecoins.
When the price of a Terra-backed stablecoin increases above the fiat currencys value, users are incentivized to burn their LUNA-USD for a profit. This step reduces the number of overall tokens left in circulation. As a result, LUNA-USD becomes more scarce and, therefore, more valuable.
Terra utilizes various DeFi products that aim to fuel demand for Terra stablecoins. The platform is among the most popular DeFi ecosystems in the blockchain industry.
LUNA-USD price hit an ATH of $119.18 on Apr. 5. As a result, it is up almost 600% over the past year. Its market cap of $35.2 billion positions Terra as the 9th largest altcoin.
On the date of publication, Tezcan Gecgil 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 theInvestorPlace.comPublishing Guidelines.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.
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3 Cryptos to Keep an Eye on Following Their March Rise - InvestorPlace
Poor volumes to HODLer conviction- why Fantom [FTM] has been falling behind – AMBCrypto News
While at the moment, most of the altcoins in the market are witnessing a drop in price due to the excessive bullishness witnessed over the last couple of days, there are some that got caught in the crossfire even before they could finish their bull run, one of them being Fantom.
The total crypto markets RSI breached the OB zone, which resulted in the market cooldown. However, that was not the case with Fantom since the altcoin had barely scratched into the bullish zone before being thrown back down.
As a result, the altcoin lost over 14.66% in the last 24 hours, and its RSI is already in the bearish zone.
Recovery for FTM from here on is gonna get much more difficult than it already was. In the last two months, this was its second attempt at flipping $1.8207 into support which failed.
But its not just in terms of price that the altcoin is failing, when it comes to investors, FTM isnt performing very well either.
Firstly, the network barely has 87k investors trading the altcoin. On top of that, those that were active contributed to some volume on-chain, but since January, even those investors have been disappearing.
Down from 3k three months ago, daily users on-chain are at just 572 as of today.
Naturally, the total volume of FTM traded on the chain is also less than $20 million on average.
Now there are two ways that this lack of investor participation phenomenon can be explained.
First being the absence of optimism and the second being excessive optimism. i.e., investors are either losing faith in the coin, or they have a little too much of it to HODL their FTM despite the coin losing so much money.
While the mean coin age indicates that the sentiment of HODLing is pretty strong right now, looking at investors sentiment, it seems like there is some hesitation in investors.
However, it isnt as significant to influence a negative decision. Plus, the same is possibly going to turn positive soon, which would be an indication that the lack of participation is confidence induced.
Further backing this is the distribution of supply among FTM holders, where the HODLers (FTM holders of more than one year) balance has increased from 23% to 39% since January, which shows that investors are voluntarily waiting out for a successful rally for a new all-time high.
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Poor volumes to HODLer conviction- why Fantom [FTM] has been falling behind - AMBCrypto News
4 Altcoins to Watch Closely in April – The Motley Fool
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As crypto prices show signs of recovery, put these cryptos on your radar.
After a sluggish start to 2022, cryptocurrency prices finally started to rise at the end of March. But if there's one thing the last few months have taught us, it's that crypto prices are unpredictable. The recent price growth is a great sign, but it's too early to start talking about a recovery -- and Bitcoin (BTC) has a long way to go before it regains its highs of last year.
Nonetheless, market sentiment has finally become more optimistic. The crypto fear and greed index has shown "fear" or "extreme fear" for some time, but as I write this, it has tipped into "greed" -- meaning people are hopeful the crypto slump has passed. Only time will tell if those hopes are well founded.
Here are four coins to put on your watchlist for April.
Tezos is a relatively well-established smart contract crypto. However, it failed to post the same gains as coins like Solana (SOL) or Avalanche (AVAX) last year. This could be because the project had management difficulties and faced lawsuits after its ICO back in 2017/2018 that put a significant dent in investor confidence. However, the tide may be changing.
Not only is Tezos about to launch a big upgrade, but it's also beginning to gain traction in the non-fungible token (NFT) space. Several NFT marketplaces, such as Rarible, offer NFTs on the Tezos blockchain. A recent Coinbase poll showed many users would like to see it add the Tezos network, which sells itself as an eco-friendly alternative to Ethereum, to its NFT platform.
Cryptocurrency exchanges: Coinbase, Binance, Binance.US, Kraken, Gemini, and others.
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COTI wants to establish itself as the "ultimate power grid of payments." COTI is a smart contract crypto that aims to make it easy for people to create stablecoins and digital payment networks. It is not alone -- both Terra (LUNA) and Stellar Lumens (XLM) are operating in similar spaces. But both of these are in the top 50 cryptos by market cap where COTI ranked at No. 186 at time of writing.
COTI is already partnering with Cardano (ADA) on its Djed stablecoin. Indeed, its close relationship with Cardano, which jumped over 30% last week, is one reason to put this coin on your radar. Another is the recent launch of COTI Ventures, an investment fund designed to focus on opportunities in the COTI ecosystem. It has an initial budget of $10 million and has already made its first investment in a Cardano-based decentralized exchange called WingRiders.
Cryptocurrency exchanges: Coinbase, Binance, KuCoin, Gate.io, and others.
Audius is one of several Web 3 music streaming platforms that aims to allow anybody to distribute, monetize, and stream audio. It wants to empower artists by letting them connect directly with their audience, without the need for a record label. The crypto is currently trading over 70% down from its all-time high of last March, and may be a good Web 3 project to have on your radar for the long term.
Founded in 2018, Audius already has over 1 million monthly listeners. Its partnership deal with TikTok cemented its position as a key player in the blockchain music space. Audius also recently completed its migration to the Solana blockchain. This means users and creators can benefit from speedy, low-cost transactions.
Cryptocurrency exchanges: Binance, Binance.US, Gemini, Kraken, Crypto.com, and others.
I left Ethereum for last because it is so big that many don't even consider it an altcoin. However, it is close to its all-important switch from the gas-guzzling proof-of-work validation model to the more eco-friendly proof-of-stake system. This long-awaited step is also known as "The Merge," and Ethereum founder Vitalik Buterin has said it will take place this summer.
It is only part of a bigger staged upgrade, but will still be a significant milestone. As anticipation about the upgrade builds, Ethereum will be top of mind for almost every crypto investor. A successful switch could build confidence industry wide; conversely, technical problems could put the brakes on any kind of price recovery.
Available from most top cryptocurrency exchanges.
Each month we bring you a selection of altcoins to watch, but here at The Ascent, we advocate long-term investing. The coins above are worth your attention not only in the next month, but in the longer term. And, as you do your research, it's good to try to maintain a long-term lens. Look for projects you think might perform well in the coming five to 10 years, rather than one that might jump in the next couple of months.
The recent jump in crypto prices could be the beginning of a price recovery. However, there are still many uncertainties. These include, regulatory developments, wider economic conditions, and the ongoing Russia-Ukraine conflict. Make sure you only invest money you can afford to lose, and don't put crypto investing ahead of other financial goals. That way you won't face financial disaster if crypto prices fall again.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some ofour best cryptocurrency exchanges for 2022. Check out the list here and get started on your crypto journey, today.
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4 Altcoins to Watch Closely in April - The Motley Fool
Bitcoin (BTC), XRP and One Additional Altcoin Set for New Rallies, Says Closely Followed Crypto Strategist – The Daily Hodl
A closely tracked crypto strategist says he believes Bitcoin (BTC), XRP and one more altcoin will likely sustain their bullish momentum despite some market turbulence over the weekend.
Pseudonymous trader Credible tells his 320,200 Twitter followers that he sees Bitcoin pulling back to the $42,000 level before resuming its uptrend.
With this last weekly close, we have reclaimed a very significant level. The last four times we closed above or below this level on [the] high timeframe, we have moved to the opposite end of the range over a number of weeks. Expecting the same this time a retest of low $40,000 and continuation up. BTC.
Looking at Credibles chart, the crypto strategist predicts a Bitcoin rally above $50,000 once the brief pullback is over.
Another coin on the traders list is XRP, which he says is gearing up for a rally above $1.00 after the eighth-largest crypto asset established a bullish higher low setup.
Taking a bit longer than expected but still on track. Higher low put in and grinding up. May see some lower timeframe volatility but I do think we hold our higher low and continue up from here. XRP.
Based on Credibles chart, he predicts XRP will rally to $1.01 first and then $1.50.
The last coin on Credibles radar is Litecoin (LTC), a cryptocurrency built for payments. According to Credible, Litecoins chart resembles the market structure of Zilliqa (ZIL), a low-cap altcoin that erupted by over 600% in a short period of time.
ZIL up nearly 6x in two weeks and LTC seems to be setting up similarly from a technical perspective This next leg up across the board is gonna be fun.
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Bitcoin (BTC), XRP and One Additional Altcoin Set for New Rallies, Says Closely Followed Crypto Strategist - The Daily Hodl