Category Archives: Altcoin
Is the rise of altcoins going to continue for a while? – FXStreet
The market is slowly recovering after the recent drop, and some coins have already come back to the green zone.
Top coins by CoinMarketCap
Despite today's rise, the price of Bitcoin (BTC) has declined by 6% over the last week.
BTC/USD chart by TradingView
After a false breakout of the $32,190 mark, the chief crypto is coming back to the resistance zone. However, the trading volume is low, which means that traders have not accumulated enough power for a continued rise. But if bulls manage to do it, there is a good chance to test the zone of the most liquidity around $37,000 next week.
Bitcoin is trading at $31,795 at press time.
Binance Coin (BNB) has gained more, rising by 2.58% over the past 24 hours.
BNB/USD chart byTrading View
Binance Coin (BNB) has fixed above the crucial $300 mark. At the moment, an ongoing rise is more likely than a fall. If the buying trading volume increases, the level of $340 may be attained by the end of the next week.
BNB is trading at $306 at press time.
Cardano (ADA) is also located in a zone of short-term growth, rising by 2.46%.
ADA/USD chart by TradingView
Cardano (ADA) has bounced off the support at $1.16 against the low trading volume. However, the altcoin remains trading within the falling channel, which means that bulls have not completely seized the initiative so far.
If a breakout occurs, there is a probability to see the return to the resistance around $1.40 soon.
ADA is trading at $1.19 at press time.
DOGE has gained the most today, rocketing by 9% since yesterday.
DOGE/USD chart by TradingView
DOGE made a false breakout of the resistance zone at $0.20; however, the price has not declined so far. It may mean that buyers are gathering power for another attempt to break the level. If that occurs, the rise may continue to $0.25.
DOGE is trading at $0.18 at press time.
Litecoin (LTC) remains weaker than other coins from the list despite the 2% growth today.
LTC/USD chart byTrading View
Litecoin (LTC) tested the resistance at $124.80. However, LTC could not fix above the resistance. It means that bears keep controlling the situation on the market, trying to retest the support at $105 within the next several days.
Litecoin is trading at $120.72 at press time.
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Is the rise of altcoins going to continue for a while? - FXStreet
Cardano price: What price is Cardano today? Altcoin explained – Express
Cryptocurrency has boomed in recent months, with major cryptocurrencies like bitcoin gaining increased interest. Cardano is another cryptocurrency that has come under the spotlight recently, but unlike bitcoin, Cardano is considered an altcoin.
Nick Jones, CEO and Co-Founder at Zumo, Scottish crypto wallet, toldExpress.co.ukthat Cardano is just one example of many different altcoins available on the cryptocurrency market.
Mr Jones said: "In the cryptocurrency space, an altcoin refers to any digital asset that is not bitcoin.
"Bitcoin dominance - the value held in bitcoin as opposed to the total value of the entire cryptocurrency market - currently stands at 46.22 percent.
READ MORE:Bitcoin price: What is bitcoin's price today?
"In other words, bitcoin accounts for almost half of todays crypto market, leaving just over half to the bitcoin alternatives, or altcoins."
Examples of altcoins that have gained attention in recent months include Cardano, Ethereum and Dogecoin, the latter of which has been referenced frequently in tweets by Tesla CEO, Elon Musk.
But like all cryptocurrencies, Cardano and other altcoins are considered high-risk and are known for being volatile.
Mr Jones added: "Cardano is an example of one of these altcoins. It was founded in 2015 by Ethereum co-founder Charles Hoskinson.
"Like bitcoin or Ethereum, Cardano has its own separate blockchain, or network for processing transactions.
"It is claimed to be the first blockchain platform developed based on peer-reviewed research, and is targeting a broad range of use cases across education, retail, agriculture, government finance and healthcare.
"Cardano has captured public attention for a couple of notable reasons. First, it has stated an emphasis on inclusivity and positive global change.
"Founder Charles Hoskinson has a particular interest in Africa, and one recent example has been Cardanos involvement in Ethiopia, where the Ethiopian government will be using the Cardano blockchain to track student performance.
"Cardano is also viewed by some as an ESG-friendly blockchain. This is because it operates on a proof-of-stake mechanism that is said to require less energy and computing power than bitcoin's proof-of-work algorithm.
"Like Ethereum, Cardano will also incorporate smart contracts - computer programs stored on the blockchain that automatically execute when specific conditions are met, opening up a range of practical applications."
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Cardano's price on Wednesday was a significant drop from its price a week prior.
On July 7, Cardano had a price of $1.43 (1.03), before dropping on July 10 to $1.32 (0.954169).
The information in this article does not equate to financial advice.
Anyone considering investing in cryptocurrency should understand the risks involved.
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Cardano price: What price is Cardano today? Altcoin explained - Express
Mark Cuban has invested in a new altcoin that’s recovered impressively – Crypto News Flash
Mark Cuban has become one of the biggest cryptocurrency fans in recent months, investing in everything from Ethereum to NFT platforms and DeFi market leaders. He is now increasing his position in a new altcoin that, despite crashing in May like all the other coins, is now seeing an impressive recovery.
Cuban revealed his altcoin portfolio for non-fungible tokens on his platform, known as Lazy. Since then, crypto fans have been on the lookout for changes in his positions to know what hes bullish about. And as trader Tyler Swope spotted recently, Cuban has increased his position on Olympus (OHM).
Related: Mark Cubans enthusiasm in DeFi curbed after suspected rug pull hit
Cuban bought 75 OHM on Saturday, worth $42,300 at current prices. But it doesnt stop there for the Dallas Mavericks owner and Shark Tank star. He has staked his OHM, a further endorsement for the cryptocurrency. A dig into his Etherscan address shows that he has now staked 536 OHM, worth $302,304 at press time.
OHM is the native token of Olympus DAO, a decentralized reserve currency that claims to promote stability and predictability without having a peg for its tokens. The project has only been around for a few months, but in that time, it has attracted the interest of several investors, so much so that one month after launch, it spiked to an all-time high at $1,479.
That was in late April. However, May came, and as the greater crypto market tumbled, OHM wasnt spared either. It shed about 90 percent of its value to trade at $164. Since then, it has been recovering well certainly better than most cryptos including Bitcoin and Ethereum.
It now trades at $564, and in the past 24 hours, it added 7 percent to its value. However, its still a relatively small crypto, with CoinGecko pegging its market cap at just $390 million.
Popular YouTuber and analyst Tyler Swope, better known as Chico Crypto, described OHM as one of the only projects out there that is recovering and recovering well since the May crush.
He added, So unique that even the highly respected Messari put out research on how it works and according to Messari, OHM has a flywheel effect in which users are incentivized to do whats best for it.
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Mark Cuban has invested in a new altcoin that's recovered impressively - Crypto News Flash
Cardano in focus: Why this altcoin could have an exciting year ahead – ArabianBusiness.com
We dive into the world of cryptocurrency withSimon Hudson, founder and CEO of Cheeze, Inc. First up, no not Bitcoin, but Cardano, one of the many altcoins on the market.
Token: ADA
Market cap: $47,395,324,755
Current price: $1.49 (June 8th)
History: Cardano began development back in 2014 by two former co-founders of Ethereum, Charles Hoskinson and his former Ethereum colleague, Jerry Wood. The platform first launched in September 2017 with its native cryptocurrency ADA, named in homage to the 19th century mathematician Ada Lovelace.
Dubai Multi Commodities Centre unveils ecosystem for businesses operating in the cryptographic and blockchain sectors
The Cardano project itself is named after Italian polymath Gerolamo Cardano.
Utility: Cardano is part of the so-called third-generation blockchain technology. Third-generation blockchains seek to address the interoperability and scalability issues that have plagued earlier generations.
Cardano, like Ethereum, allows the execution of smart contracts and Decentralised Apps (DApps), which are extremely powerful and allow developers to build products and solutions on the blockchains these include NFTs (Non-Fungible Tokens) that have rocketed in popularity over the past six months.
One of the biggest advantages about Cardano is that it uses proof-of-stake (PoS) instead of proof-of-work (PoW) to confirm transactions on the blockchain which means it is much faster and doesnt have high gas fees as seen with transactions on Ethereum.
Where to buy: Binance, Coinbase, eToro, Kraken
Simon says: I am a big believer in Cardano. The team behind the project are strong and they address a lot of the issues facing congested blockchains. For developers, the interoperability and low gas fees are attractive. I think over the next 12 months we will see some very exciting developments with Cardano.
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Cardano in focus: Why this altcoin could have an exciting year ahead - ArabianBusiness.com
One Metric Will Confirm Start of Next Altcoin Season, According to Prominent Analyst – The Daily Hodl
A popular analyst and trader says he is closely watching a crypto index that he believes will signal the start of the next altcoin season.
The pseudonymous trader, known in the industry as Credible Crypto, tells his 223,100 Twitter followers that the Bitcoin Dominance Index (BTC DOM) is poised for a relief rally, which might offer good opportunities for altcoin traders.
During our last bull run, there were multiple instances where BTC Dom spiked for some relief on its way down.
I still fully expect new [all-time lows] on BTC Dom before this bull run is over. Eyes on alts if/when BTC Dom hits 50-55%. That will probs be the BEST time to load up on alts.
Traders rely on the Bitcoin Dominance Index to get a sense of Bitcoins value relative to the value of the broader cryptocurrency market. A rising BTC DOM is an easy way to see when Bitcoins value is growing faster than the rest of the crypto markets, and vice versa.
Credible Crypto says that the BTC DOM relief rally could mark the bottom for altcoins and the start of a new altcoin season, as he expects the index to continue its downtrend.
In line with his prediction, the crypto trader adds that he expects altcoins to rally in the midterm before pulling off one final surge in the next six months. Between the two rallies, Credible Crypto says that he sees altcoins trading within a wide range.
Probs a sideways consolidation. But since these are alts, that could be a decent 20-40% range from the highs even.
As for Bitcoin, the crypto strategist believes that the largest cryptocurrency is gearing up for the next phase of its bull market.
Accumulation. BTC.
Featured Image: Shutterstock/klyaksun
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One Metric Will Confirm Start of Next Altcoin Season, According to Prominent Analyst - The Daily Hodl
Polygon Is an Altcoin That Will Emerge a Long-Term Winner – InvestorPlace
Polygon (CCC:MATIC-USD) is among the few cryptocurrencies that have performed relatively well during the recent crypto slump.
Source: Shutterstock
Previously known as the MATIC Network, Polygon has exhibited real-world utility for its users with promising features down the road.
It has the potential to stand out amid an ocean of underwhelming altcoins.
The Indian-based crypto was founded back in 2017 with a core mission of solving critical scalability issues with the Ethereum (CCC:ETH-USD) network. It is the second-largest crypto ever and serves multiple platforms, including decentralized applications and other currencies.
Unfortunately, the platform is highly congested, which is why users have faced high transaction costs.
This is where Polygon provides a platform facilitating more robust, quicker, and cheaper transactions. Moreover, its status as a Layer-2 network increases the interoperability between various blockchains.
It looks as if Polygon has an impressive growth runway ahead which makes it one of the most exciting altcoins in the market.
Mark Cuban is one of the wealthiest individuals on the planet and one of the most prolific investors in modern history. He is also a big crypto fan and has several noteworthy investments in various cryptocurrencies.
Truth be told, he wasnt a big fan of the asset class in the past but pivoted in the last year or so.
When Tesla (NASDAQ:TSLA)CEO Elon Musk shocked the crypto world by rejecting Bitcoin (CCC:BTC-USD) payments, Cuban continued accepting Bitcoin payments for his Dallas Mavericks NBA franchise.
Apart from the big names in the crypto industry, he is bullish on the potential of Polygon.
Cubans website lists Polygon as a highly structured and an easy-to-use platform for Ethereum scaling and infrastructure development.
Polygons COO, Sandeep Nailwal, described his meeting with Cuban as truly mind-blowing. Moreover, Cuban plans to integrate the altcoin into his non-fungible token (NFT) gallery, Lazy.com.
He feels Polygon stands out in its ability to process transactions at a fraction of the cost of Ethereum. Additionally, it uses an added layer that deems a sidechain and works parallel to the existing blockchain technology.
One of the interesting elements that Cuban talked about recently was his approach to valuing a blockchain or DeFi project.
For him, its the revenues, similar to valuing a software business. He looks for growth rates, current revenues, and the strength of its community. In this regard, he feels that MATIC has the edge over its competition.
MATIC has shed more than 27% of its value in the recent crypto sell-off. While it has been resilient in comparison with many of its peers, the altcoin also has been one of the best performing cryptos growing by over 5,500% on a year-over-year basis.
It touched highs of $2.62 back in May this year. As Bitcoin tanked, the industry followed and lost a fair bit of its values. MAtIC dropped at least 50% of its value during the period.
It appears as if investors have witnessed the worst of the corrections already. In fact, it wouldnt be surprising Polygon is back trading at all-time highs in the next few months.
Price predictions are largely bullish on its potential to break out and regain its lost ground by the conclusion of this year.
Moreover, with multiple new updates and unique features to its platform, the altcoin presents itself as relatively stable as its core business progresses.
MATIC has been one of the more resilient altcoins in the past few years, and analysts are bullish on its long-term potential going ahead. It has several promising features, and upcoming updates put it in pole position to reach all-time highs.
Mark Cubans insights hold a lot of weight and further boost the confidence of future investors in crypto. Hence, MATIC is a crypto that should be part of your altcoin portfolio.
On the date of publication, Muslim Farooque 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 the InvestorPlace.comPublishing Guidelines.
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Polygon Is an Altcoin That Will Emerge a Long-Term Winner - InvestorPlace
Ethereum, Cardano and 7 Altcoin Projects Are Sleeping Giants As Bitcoin Moves Sideways According to Altcoin Daily – The Daily Hodl
Crypto analyst Aaron Arnold is naming nine crytpo assets that he believes are quiet powerhouses with the potential to take off once bullish momentum returns to the markets.
In a new video, the Altcoin Daily host highlights the Theta Network (THETA), which recently launched its mainnet 3.0. Theta is a content delivery network that seeks to provide higher-quality streaming experiences by decentralizing the process.
Arnold notes that the network is backed by big players who are running Theta nodes to help improve streaming quality.
Next up is what Arnold calls one of the top decentralized finance (DeFi) blue chips in the space, Uniswap (UNI). Uniswap V3 has already captured 41% of the decentralized exchange market, says Arnold.
In the same vein, the analyst is also bullish on Uniswap competitor SushiSwap (SUSHI) which will soon debut its non-fungible token (NFT) platform.
I think SUSHI is going to do big things going into the end of the year.
The fourth coin on Arnolds list is Ethereum competitor Cardano (ADA). Cardano is leading the pack in terms of average daily developments on GitHub over the past 30 days, which indicates that the development team is working hard to improve its network, notes Arnold.
Sandbox (SAND) is the fifth asset Arnold mentions, noting that it may be a worthy competitor to virtual decentralized marketplace Decentraland (MANA).
The Ethereum-based metaverse recently partnered with the TV franchise The Walking Dead as well as other popular brands. according to Arnold.
Next up are the two top crypto assets Bitcoin and Ethereum, which Arnold says have both attracted investments from Senator Pat Toomey (R-PA), the first senator on record to buy crypto.
Additionally, says Arnold, Ethereum has added five million unique addresses to its network in the past 30 days.
Numbers like this, charts like this, cannot be ignored, my friend. The proof is in the data. And finally on ETH, Ethereum gas prices dropped to the lowest rates since March 2020. You can attribute this since the price dropped. However, Coinmetrics says Ethereum gas prices actually began declining before the price of ETH did because ETH has been doing some scaling this year.
Number eight is the smart contracts platform Avalanche (AVAX), which has attracted a new yield-farming platform to its blockchain, notes Arnold.
They say they have compelling reasons to launch on Avalanche. Basically, its the speed and low fees, high throughput thats why theyre choosing it.
Arnold says that as demand for Ethereum grows, projects will spill over onto smaller blockchains and start building there.
Finally, Arnold highlights that NFTs are here to stay, and NBA legend Allen Iverson is working with Binance to produce his own NFTs this summer. As such, Binance Coin (BNB) rounds out the analysts list.
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Featured Image: Shutterstock/Tithi Luadthong
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Ethereum, Cardano and 7 Altcoin Projects Are Sleeping Giants As Bitcoin Moves Sideways According to Altcoin Daily - The Daily Hodl
Crypto Trader Lark Davis Says Hes Bullish on Bitcoin, Ethereum and One Large-Cap Altcoin – The Daily Hodl
Crypto trader and influencer Lark Davis says hes bullish on Bitcoin, Ethereum and one more large-cap altcoin.
In a new video, Davis says that despite Bitcoin being 50% away from its all-time high of $64,804, his outlook on the flagship digital asset hasnt faltered, and he remains bullish on the king crypto.
my thesis on Bitcoin has not changed. I still believe Bitcoin is gold 2.0, inflation hedge, fantastic, scarce asset. I still think that Bitcoin is going to be worth hundreds of thousands of dollars a coin at some point.
The trader outlines why he continues to be optimistic about smart-contract leader Ethereum, mentioning the utilities and fundamentals of the second-largest crypto by market cap. According to Davis, there are reasons to remain bullish on ETH.
There are so many catalysts: moving to proof-of-stake (PoS), [ETH] 2.0, [decentralized finance], [non-fungible tokens], EIP-1559, and much, much more the developer lead and all this stuff. Im super, super-bullish on Ethereum.
Davis names one large-cap altcoin as another crypto he remains bullish on despite the less-than-ideal state of the markets. According to the analyst, Polkadot (DOT) has a few key bullish fundamentals working in its favor, including its canary network, Kusama (KSM), which will launch parachain auctions as well as its own auctions.
Im still very bullish on the future of Polkadot. Now that were seeing Kusama parachains actually launching, and actually its super-bullish, because if you look at whats happened for Kusama and now I think more than 10% of the total supply of Kusama is bonded into these parachain auctions which, to my mind, is very bullish for the coming Polkdadot parachain auctions.
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Crypto Trader Lark Davis Says Hes Bullish on Bitcoin, Ethereum and One Large-Cap Altcoin - The Daily Hodl
Bitcoin targets $36K key Wyckoff level, with altcoins set to grind up heavier – Cointelegraph
Bitcoin (BTC) headed toward a key Wyckoff level on Tuesday as BTC price action got traders excited about an altcoin surge.
Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD trading up 4.6% versus the previous days lows on Tuesday.
After seeing tests of $33,000 support, bulls won out overnight, sending Bitcoin higher. Now, a key area to watch is $36,000, popular analyst Rekt Capital said.
According to Wyckoff analysis, a popular method for charting BTC price action, $36,000 marks the likely end of a phase C and the beginning of a phase D for BTC/USD with trajectory favoring the upside.
BTC dips to the ~$33000 area and holds the orange Higher Low perfectly, Rekt Capital commented alongside a chart on the day.
As Cointelegraph reported, potential higher targets currently include an unfilled CME futures gap above $46,500. This would be a significant move if it were to happen, as Bitcoin would effectively exit a trading range, in which it has been sitting for multiple weeks.
Trader Filbfilb offered a more sobering view. Bears, he warned, were still in command of levels that have attracted the highest volumes to so-called point of control or POC.
Trend remains down, he summarized on Monday before the bounce higher.
Conditions, meanwhile, may be right for altcoins to benefit more than Bitcoin in the mid term.
Related:Ethereum price can gain 40% on Bitcoin, argues analyst as London fork nears
In an atmosphere in which cryptocurrencies broadly grind up rather than shoot higher, it may be more than just BTC/USD that forms a point of interest, trader Michal van de Poppe argued.
Most likely expectation is that altcoins will be grinding up way heavier than Bitcoin in the coming period, he told Twitter followers on Tuesday.
Some of the top 50 cryptocurrencies by market capitalization woke up overnight, seeing gains that topped 10%. Ether (ETH), the largest altcoin, traded up 3% at $2,340. Meanwhile, many decentralized finance tokens were the standouts over the past 24 hours, namely SUSHI and Aave, which rallied by roughly 20%.
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Bitcoin targets $36K key Wyckoff level, with altcoins set to grind up heavier - Cointelegraph
5 Biggest Altcoin Gainers in 2021 and How They Have Performed – Market Realist
There are thousands of cryptocurrencies out there. Some like Bitcoin, Ethereum, and Dogecoin have become household names. But they aren't the only opportunities. If youre searching for the next cryptocurrencies that could explode, you might want to know where investors have been making money in 2021.
Telcoin (TEL)
Telcoin is a crypto project focused on money remittance. It aims to partner with telecom providers to make it easy for people to send and receive money using mobile devices. Its goal is to challenge remittance industry incumbents like Western Union and MoneyGram.
The projects official cryptocurrency is TEL token, which has gained 14,000 percent in 2021. But its still cheap trading at just $0.023. There are 54 billion TEL tokens in circulation and the maximum supply is capped at 100 billion tokens. The best places to buy TEL token are KuCoin, Uniswap, 1Inch Exchange, and HitBTC.
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Polygon (MATIC)
Polygon, formerly Matic Network, is a platform for building and launching blockchain apps. Its officially cryptocurrency is MATIC token, which has gained 6,000 in 2021. There are 6.3 billion MATIC tokens in circulation and the maximum supply is fixed at 10 billion tokens. You can buy Polygon crypto on Coinbase, Binance, Gate, Huobi, and Kraken.
Source: Dogecoin Facebook
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Dogecoin (DOGE)
Dogecoin is a meme crypto that tends to soar on Tesla CEO Elon Musks tweets. Beyond the joke, Dogecoin has been used to contribute to charities and it also serves as a medium of exchange. The list of businesses that accept DOGE payments include Newegg and Mark Cubans Dallas Mavericks. Dogecoin has gained 5,000 percent in 2021.
PancakeSwap (CAKE)
PancakeSwap is a Binance-based DeFi project that operates a platform for exchanging cryptocurrencies. The project also operates a prediction market. Its official token is CAKE, which has gained 2,700 percent in 2021. Some 192 million CAKE tokens are in circulation currently and there isn't a maximum supply limit. You can buy CAKE token on its native PancakeSwap, Binance, Gate, and KuCoin.
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Solana (SOL)
Solana is a blockchain that rivals Ethereum in providing a platform for running DeFi apps. It has its own DeFi platform called Solrise that's backed many prominent investors. Solanas SOL token has risen more than 2,000 percent in 2021.
There are 272 million SOL tokens in circulation and the maximum supply is capped at 500 million tokens. You can buy Solana crypto on Binance, Coinbase, and Bitfinex with U.S. dollar.
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5 Biggest Altcoin Gainers in 2021 and How They Have Performed - Market Realist