Category Archives: Altcoin
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.
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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
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.
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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
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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.
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7 Altcoins to Buy As Bitcoin Rises to $120,000 in 2022: Analyst - Business Insider
800% Rally for One Ethereum-Based DeFi Altcoin Likely, According to Top Crypto Analyst – The Daily Hodl
A closely followed crypto analyst says that an enormous near-10X rally for one altcoin is more likely than not.
The pseudonymous analyst known as Credible Crypto tells his 267,000 Twitter followers that CRV, the governance token of decentralized finance (DeFi) platform Curve, is destined to reach $40, roughly an 811% gain from current prices.
The analyst points out that Curve has more total value locked (TVL) in its platform than any other DeFi protocol in the industry with the overwhelming majority of its supply locked up for long periods of time.
A 10x on CRV from here is not only possible but probable. Its a conservative estimate for the leading DeFi protocol in the space with $20B in TVL, 90+% supply locked for nearly 4 years, and a technical breakout of a 9-month accumulation structure. $40+ CRV by end of cycle.
At time of writing, CRV is trading at $4.39.
Looking at Bitcoin, Credible says the king crypto is looking less-than-ideal in the short term. According to him, BTC may face more downward pressure unless it reclaims the $59,000 level.
Low time frames not looking so hot anymore with that recent sell-off. Need to reclaim 59k for now if we want to continue up to 62-63k. Bears are in charge until then.
Credible sees a similar situation unfolding for Ethereum as well. He says ETH can recover from its recent correction first by breaking through $4,385, and then reclaiming the $4,770 level.
Rejection so far. We can still recover from this and if we do still need to err on the side of caution in the zone above, but if we dont I am glad I locked in some gains and now have cash reserves to buy the dip.
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800% Rally for One Ethereum-Based DeFi Altcoin Likely, According to Top Crypto Analyst - The Daily Hodl
How to Mine Bitcoin and Ethereum, and 4 Altcoin Investing Protocols – Business Insider
Gaurav Budhrani and Alan Konevsky are two former Goldman Sachs employees who moved into the crypto space a couple of years ago. They told Insider the exodus from traditional finance has continued in 2021 as institutional investment in crypto has surged.
"2021 is the first time that I'm starting to see institutional investors participate across the capital structure for bitcoin mining companies," Budhrani, who is PrimeBlock's chief executive, said. "You initially had a handful of names like Marathon, or Riot. But that's definitely changed a lot over the last year or so - you're starting to see institutional investors come in and provide capital."
Crypto miners run computers that aim to solve complex mathematical problems. The first computer to reach a solution is awarded a block of cryptocurrencies.
PrimeBlock's mining set-up focuses on the two largest cryptocurrencies by market capitalization: bitcoin and ethereum. They have deployed 12,000 crypto mining machines across facilities in Alabama, Georgia, Kentucky, and Tennessee. Konevsky, who is PrimeBlock's chief legal officer, told Insider the firm currently mines five bitcoins each day - equating to nearly $290,000 at bitcoin's current price of just over $57,500.
"There are three critical inputs in a crypto mining operation - capital, equipment, and energy," Budhrani said. "Mining has become an industrial-scale operation."
The two executives explained why there are more opportunities than ever in the North American crypto mining space, and listed four proof-of-stake protocols that retail investors are using to generate yields.
In 2021, the US surpassed China in crypto mining market share for the first time, after Beijing moved to ban digital currencies. US mining firms' market share surged from 17% to 35% over the last quarter, according to data from The Block.
"The China decision was principally driven by domestic political considerations," Konevsky told Insider. "China is complicated, you can never predict it perfectly, but while the ruling system remains the same, you'll see the ban continue into 2022."
Budhrani added that, as well as political stability, the US's significant energy infrastructure advantage has made it an appealing region for crypto miners.
"The US has the world's largest energy grid," he told Insider. "A year ago, Kazakhstan was the second biggest market after China when it came to bitcoin mining, but now we're starting to see cracks in that market because they don't have the same energy infrastructure."
But the PrimeBlock executives said they believe bitcoin mining is now out of reach for smaller players like retail investors and hobbyists.
"I think we are beyond the point where hobbyists could participate directly in bitcoin mining," Budhrani said. "It's extremely difficult for them to get their own mining rigs."
"But there are definitely a lot of other protocols in crypto, where as a hobbyist you could participate in those protocols and generate rewards for that participation," he added.
Budhrani listed four proof-of-stake protocols - including bitcoin competitor ethereum - that crypto investors are turning to to boost their returns.
Staking is a way for crypto investors to earn rewards without having to invest directly in mining equipment. Certain cryptocurrencies allow owners to "stake" their holdings, earning a percentage-rate reward over time.
"Investors don't need machines - they just need capital to deploy on the network," Budhrani said. "Retail investors are trying to generate significantly higher yields than they would if they invested in a regular savings account."
The ethereum 2.0 upgrades recently made staking possible for holders of the ether token - and Budhrani highlighted it as one of four protocols retail investors are using right now to earn extra returns.
"Hobbyists can still get involved in ethereum mining right now, but it'll move to a proof of stake algorithm in six to eight months," he told Insider. "The rewards incentivize participation as the network grows and as the community of developers continues to grow on top of these networks."
We list the four protocols PrimeBlock said retail investors are using for staking right now, together with their native token's price and market capitalization.
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How to Mine Bitcoin and Ethereum, and 4 Altcoin Investing Protocols - Business Insider
Amid global crypto fall, this altcoin jumped over 50% in mcap to surpass Shiba Inu – Financial Express
The jump in Avalanche has reportedly come on the back of its developer Ava Labs partnership with Deloitte. (Image: Pexels)
Even as the crypto world witnessed turbulence in the past nearly two weeks with over $300 billion lost in market value, Avax the native token of smart contract blockchain platform Avalanche has been a big outlier. The altcoins price has jumped from around $90 to $137, at the time of filings this report, data from CoinMarketCap showed. The market cap was up 51 per cent from around $20 billion to $30.34 billion on Sunday afternoon, making it the 11th largest crypto in the world and surpassing Shiba Inus $25.4 billion market cap.
The decline in the crypto world over the past seven days involved all leading coins including Bitcoin, which had slipped below $60,000 market, except Tether and USD Coin the fourth and nineth largest cryptos respectively that have remained in green.
Avalancheis alayer one blockchainthat functions as a platform for decentralised applications and custom blockchain networks,according to CoinMarketCap. Importantly, the price-tracking website said that it is one of Ethereums rivals, aiming to unseatEthereumas the most popular blockchain forsmart contracts. Avalanche aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
Also read:Bitcoin slips below $60,000 after record surge; Ethereum, other altcoins also see double-digitdrop
The jump in Avalanche has reportedly come on the back of its developer Ava Labs partnership with Deloitte. Ava Labs is thrilled to announce its partnership with Deloitte to build more efficient disaster relief platforms using the Avalanche blockchain. This effort combines the speed, resilience and adaptability of Avalanche, and Deloittes Fortune 100 enterprise knowledge, Ava Labs co-founder and Cornell University professor Emin Gn Sirer said on Twitter last Tuesday.
The new platform gives state and local officials a decentralised, low-cost and fully immutable system that empowers both the grant funders, and the aid recipients, while using the transparency of blockchain to minimize fraud, waste and abuse,Sireradded. Last Wednesday,Binance.US the US arm of crypto exchangeBinance, had announced that it would list Avalanche on November 18 and open trading on open trading onAVAX/USDandAVAX/USDT. According to CoinMarketCap, the total supply of AVAX is 720 million.
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Amid global crypto fall, this altcoin jumped over 50% in mcap to surpass Shiba Inu - Financial Express
Crypto Giant Coinbase Lists Ethereum-Based Exchange Altcoin on Retail Trading Platform – The Daily Hodl
Another Ethereum-based exchange altcoin is now available across crypto giant Coinbases full retail platform.
Coinbases customers can now buy, sell and store Voyager Token (VGX), the native token of centralized exchange Voyager, on Coinbase.com and the exchanges mobile apps, according to a new announcement from the company.
Coinbase Pro listed VGX on Wednesday. The crypto asset is up 41% in the past seven days but down nearly 10% in the past 24 hours. Its trading at $3.83 at time of writing, down from a weekly high of $4.29, which it hit earlier in the day on Friday.
Voyager says that VGX is a liquid token that provides utility across its platform. Participants can earn interest by staking VGX or using the token to enable instant transactions, receive fee discounts and earn rewards for trading.
Voyager itself is a mobile broker that supports the trading of more than 60 crypto assets.
Coinbase added support for VGX amid a flurry of new altcoin listings on Coinbase Pro. The exchanges chief executive, Brian Armstrong, noted in Julythat they plan to list as many altcoins as possible.
Reminder about how Coinbase lists assets: our goal is to list *every* asset where it is legal to do so.
Featured Image: Shutterstock/Kit8.net
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Crypto Giant Coinbase Lists Ethereum-Based Exchange Altcoin on Retail Trading Platform - The Daily Hodl
SOL, DOT, XRP, ONE, and FTT Price Poised For Breakout! Here are Levels to Watch – Coinpedia
The November month has been on the skids for Crypto space with no significant gains. Though market leaders Bitcoin and Ethereum failed to reach the markets port of call, top-tier altcoins seek hard to uplift the broader market cap. Notably, Solana, Polkadot, Harmony, FTX Token, and Ripple exhibits the virtue of breakout this week.
The Solana price has made a breathtaking move in the second half of the year, with a more than a 500% surge. Consequently, the altcoin remained persistent since the start of Q4 managing the uptrend. The protocol has been trading within a tight symmetrical triangle. The asset may experience a slight pullback between $207 to $219 to confirm the pattern before clinching a high above $235 by the weekend.
Polkadot has been one of the traders favorite coins in recent days owing to its initiation of the Parachain auction. The DOT price has seen a dramatic rise post the announcement, claiming a new ATH of $55 on 8th November. The asset has been accumulating an effective bullish pennant channel, an additional drop up to $37.65 would help the solid breakout. The significant surge in the buy orders would exhilarate the price up to $50 by the weekend.
The top-tier altcoin has been peddling hard times with SECs prevailing lawsuit against it. Yet the XRP price chart indicates the probable breakout of the solid falling wedge pattern. The four-hour chart from the trading view displays the close fight between buyers and sellers. An increase in the buy orders in the next couple of days would initially uplift the price to $1.18. Further, a continued predominance of bulls would lead the price to $1.30 by the weekend.
The Harmony price has undergone an exponential growth post the commencement of the second half of the year. The ONE price seems to be taking a short breather after claiming an ATH of $0.3798 on 26th October. The protocol has been following a tight symmetrical triangle with an equal fight between buyers and sellers. A chunk of sellers moved their bags in the past couple of hours. If the asset continues to plummet up to $0.26 then breakout would kick the price action close to the previous ATH of $0.35.
The FTT price has followed an ebb and flow pattern with notable gains since the start of the quarter. The token has been trading within a tight falling wedge channel. With little more strength above the $50.5 levels, the price would initially pass the retest at $55. Further preserving the uptrend, the price would close the week at $60.
Collectively, the broader market cap displays slow recuperation post the substantial drop over the past week. Meanwhile, the aforementioned coins gain strength at their crucial zone to ride the week with positive gains. However, if market sentiments favor the above coins, then breaking out to mentioned levels looks imminent.
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SOL, DOT, XRP, ONE, and FTT Price Poised For Breakout! Here are Levels to Watch - Coinpedia