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Author: BTCLFGTEAM

  • Zilliqa’s ‘metaverse’ debut pumps ZIL price 350% in just five days — selloff ahead?

    Zilliqa’s ‘metaverse’ debut pumps ZIL price 350% in just five days — selloff ahead?

    Zilliqa (ZIL) continues its supersonic bull run this week after reports that it will officially launch a so-called metaverse-as-a-service (MaaS) platform in April.

    ZIL rallied nearly 25% in one day to $0.22 a token by Wednesday, its best level since May 13, 2021.

    Its strong move came as a part of a rebound rally that started March 26 when it was trading for as low as $0.047. As a result, its net gains in the past six days came out to be more than 350%.

    ZIL/USD daily price chart. Source: TradingView

    Metaverse FOMO

    Traders started flocking to the Zilliqa market a day after it announced the launch of Metapolis, a MaaS platform built on Nvidia Omniverse, during a VIP event coming April 2 in Miami. 

    The metaverse concept and the companies trying to build it attracted nearly $3 billion in funding in 2021 compared to $2.33 billion in the year before that, according to data intelligence firm Dealroom.

    Investments into Metaverse startups in the recent years. Source: Dealroom

    Notably, metaverse developers have been building everything from virtual events to host fashion shows to all-and-all marketplaces that sell physical goods in the real world, as well as digital ones accompanied by nonfungible tokens (NFT). In November 2021, Facebook’s parent company also changed its name to Meta Platforms Inc. to show its new focus on applications in a virtual universe.

    Zilliqa shared its plans to tap the booming sector via Metapolis, revealing that it had already “amassed $2 million in pre-launch revenues from its client pipeline,” including Agora, a digital art platform that would host a virtual award event on the Zilliqa metaverse.

    ZIL, which serves as a utility token inside the Zilliqa ecosystem to execute smart contracts and cover transaction fees, appears to be benefiting from the metaverse hype. Nonetheless, from a technical perspective, the coin has rallied too much, too quickly to sustain its profits near the local highs.

    ZIL selloff ahead?

    Zilliqa has become an “overbought” asset on both its daily and weekly period charts, according to its relative strength index (RSI) readings above the threshold of 70, as of March 31.

    ZIL/USD weekly price chart. Source: TradingView

    ZIL experienced a selloff upon nearing its interim resistance level of $0.235, also the 1.0 Fib line of the Fibonacci retracement graph — drawn from $0.235-swing high to the $0.037-swing low.

    As such, the ZIL/USD pair dropped by over 12% to test the 0.786 Fib line near $0.193 as interim support, and eyed further downside momentum with its RSI still above ’70.’

    Meanwhile, ZIL appeared to have been trading inside a giant symmetrical triangle since August 2020, confirmed by at least two reactive highs on its upper falling trendline and two reactive lows on its lower rising trendline.

    ZIL/USD weekly price chart featuring symmetrical triangle. Source: TradingView

    On March 31, the Zilliqa token retested the triangle’s upper trendline (around $0.19) for a potential pullback move toward the lower trendline (below $0.08). That amounts to at least a 55% price drop in the coming weekly sessions if the pattern pans out as expected. 

    Related: Investment tracker Delta expands its Web3 offering with an NFT explorer

    Conversely, a decisive break above the resistance confluence, including the triangle’s upper trendline and two Fibonacci levels, could have ZIL eye $0.35 next, coinciding with the 1.618 Fib line.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

  • Dotmoovs (MOOV) price is soaring and it’s up 228% today: what is fuelling the uptrend?

    Dotmoovs (MOOV) price is soaring and it’s up 228% today: what is fuelling the uptrend?

    Several metaverse cryptocurrencies have been bullish as the crypto market traded sideways this week and one of the coins namely Dotmoovs (MOOV) has rallied by more than 228% today.

    At press time $MOOV was trading at $0.02192 up 228.72% having hit a daily high of $0.02528. It has a trading volume of $6,725,055 and a market cap of $7,997,493.

    This article explains the factors behind the current surge of Dotmovoovs (MOOV) price.

    What Is Dotmoovs (MOOV)?

    Before taking a deep dive into the current bullish trend, it’s important we first explain what Dotmoovs (MOOV) coin is.

    Dotmoovs (MOOV) is the native cryptocurrency of Dotmoovs, a peer-to-peer sports competition platform with an Artificial Intelligence (AI) algorithm that offers incredible Metaverse competitions and rewards winners using MOOV tokens.

    By using AI technology, Dotmoovs provides a play-to-Earn metaverse for users to participate in. At the moment, the platform has two types of sports: Dance with robust AI as the judge and freestyle football with an AI-powered referee to make judgments during competition.

    Dotmoovs also has a marketplace where users can purchase and collect NFTs.

    Why is Dotmoovs (MOOV) price rising?

    The main reason for the current surge of MOOV price is the hype around the upcoming release of the Dance Section.

    • Dance section release

    Once the Dance Section is launched, Dotmoovs’ users will be able to hold dance competitions and challenges within the app. It can be compared to TikTok and it will probably make Dotmoovs market valuation shoot to the moon.

    According to Dotmoovs’ team, the Dance feature will be launched during International Dance Day on the 29th of April this year.

    With the current bullish trend, it is clear that the market is extremely excited about the release of the upcoming launch of the Dotmoons Dance section.

  • BITCOIN NEWSPAPER 31 MARCH

    BITCOIN NEWSPAPER 31 MARCH

    BITCOIN NEWSPAPER 31 MARCH
  • Shiba Inu (SHIB) is looking at a 20% rally in the near term

    Shiba Inu (SHIB) is looking at a 20% rally in the near term

    Shiba Inu (SHIB) has enjoyed a period of rallying as the broader market saw gains in the last week or so. But even as bulls try to get the coin up and up, they have had to face several major resistance zones in the process. But SHIB could swing up by 20% in the near term. Here are the latest facts on the price action:

    • Bullish run for SHIB is facing major resistance at $0.0000273

    • The coin has tested that price in the last few days but has failed to overcome

    • SHIB could rise by another 20% if indeed that zone is breached in the coming days.

    Data Source: Tradingview 

    Shiba Inu (SHIB) – Price analysis and prediction

    After showing a lot of weakness at the start of March, Shiba Inu and most meme coins have all rallied. The coin has now managed to pair up some of the losses made this year and is already above its 20- and 50-day exponential moving averages. 

    Despite the recent uptrend, SHIB has faced major resistance at $0.0000273. Bulls have tested the price several times in the last two trading sessions but so far it has not been breached. 

    However, looking at other momentum indicators, it is likely that the overhead resistance will break. When this happens, SHIB could surge by over 20%. But if bulls somehow fail to get over that price, the token could fall back to $0.0000231.

    Is Shiba Inu (SHIB) ideal for buying?

    There is a short-term play here with the $0.0000273 resistance. If the price action goes above that, you can expect a swing of at least 20%, so it will be a good time to buy. 

    As for long-term investors, it would be best to wait for a significant pullback before you buy. You do not want to be buying close to resistance.

  • Top 3 coins to help you unlock the long-term value in DeFi

    Top 3 coins to help you unlock the long-term value in DeFi

    Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

    Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

    CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

    Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

    When trading in stocks your capital is at risk.

    Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.

  • Flying under the radar: 3 major gainers in crypto you may have ignored

    Flying under the radar: 3 major gainers in crypto you may have ignored

    There has been a lot of talk about the crypto rally over the last two weeks or so. Many coins have posted gains in double digits, while others like Zilliqa have hogged the headlines with their massive uptrends. Why has the crypto market surged anyway? Here are some reasons:

    • Uncertainty around the fed rate hike appears to have died out.

    • Investors are flocking into crypto as a bet against growing inflation.

    • The downtrend at the start of 2022 has provided the perfect dip to buy in.

    Well, with all the factors above, a few coins appear to have really rallied, and yet they haven’t gotten a lot of attention. Here they are:

    Aave (AAVE)

    As one of the leading DeFi protocols in the world, Aave (AAVE) has always had a positive long-term outlook. But the last two months have been quite volatile for the coin. It had bottomed to new yearly lows in 2022, and there was very little hope of any rebound. 

    Data Source: Tradingview 

    Despite this, AAVE has rebounded sharply and in fact, the coin has posted gains of nearly 50% over the last 7 days. This is one of the best weeks for AAVE this year.

    Chiliz (CHZ)

    The story of Chiliz (CHZ) is also filled with surprising turns. Like many altcoins, it was routed during the start of the year and failed to find any serious upward momentum. But just out of nowhere, the coin started to shoot up and has maintained that uptrend ever since. CHZ has gained over 50% in the past week alone.

    STEPN (GMT)

    We were expecting STEPN (GMT) to see gains in the last few days. But so far, the bullish breakout has been astonishing. The coin has delivered 80% in gains in just a day and is already up by a whopping 180% over the last 7 days. It is one of the top performers in crypto now.

  • The best crypto projects on Solana that have immense potential

    The best crypto projects on Solana that have immense potential

    When Solana (SOL) was launched, it was seen as the most serious alternative for Ethereum. Ever since the blockchain has seen massive growth and continues to attract a host of top projects as well. But why is Solana highly rated by developers around the world? Here are the main reasons:

    • The chain offers high scalability for DAPPs.

    • The overall gas fees are way lower compared to other blockchains.

    • Solana also runs various incentives designed to bring in as many developers as possible.

    For investors looking for promising projects built on the Solana blockchain, we have a list of three here below that you can check out:

    Serum (SRM)

    Serum (SRM) is the main DEX for the Solana network. It is designed to reflect all the attributes of the blockchain, including better speeds, security, and low fees. Serum is however more than just an exchange. 

    Data Source: Tradingview 

    It’s an integrated DeFi protocol as well that allows it to offer additional services like staking and others. So far, the Serum DEX has a market cap of around $453 million. There is more room for Serum to surge in the long term.

    Star Atlas (ATLAS)

    Play-to-earn is seen as one of the most promising subsectors of the blockchain industry. We have seen these games go on to report massive gains in 2021, and this trend is likely to continue. 

    Solana has also attracted its fair share of Play-to-earn, and Star Atlas (ATLAS) is one of the most notable ones. The game is developed by the Unreal engine and is set in an immersive virtual universe.

    Raydium (RAY)

    Raydium (RAY) is a liquidity provider that works using an automated market maker protocol. The goal for Raydium is to provide liquidity for the Serum DEX, but there are plans to expand it further. RAY is currently on a market cap of $350 million.

  • Top 3 crypto alternatives for Axie Infinity you can consider right now

    Top 3 crypto alternatives for Axie Infinity you can consider right now

    The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

    • There is increased integration of blockchain gaming with the metaverse

    • Play-to-earn has also seen increased NFT integration as well.

    • We are likely to see increased institutional capital towards play-to-earn.

    So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

    Splinterlands (SPS)

    Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

    Data Source: Tradingview 

    It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

    Battle of Guardians (BGS)

    Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

    CryptoKitties (WCK)

    CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

  • DeFi sector TVL rises as investors return to a bullish crypto market

    DeFi sector TVL rises as investors return to a bullish crypto market

    The month of March has been a tale of two halves for the cryptocurrency market and the weakness seen since the start of the year has began to fade. Bitcoin’s (BTC) strong move above the $40,000 level is helping to lift sentiment across the sector, and DeFi tokens are also beginning to move upward. 

    Crypto Fear & Greed Index. Source: Alternative.me

    Data from cryptocurrency market intelligence firm Messari shows that a majority of the top tokens in the DeFi sector have posted double-digit gains over the past 30 days, led by THORChain (RUNE), which has increased by 199.81%, and Aave (AAVE), which has seen its price increase 53.95%

    Top 12 DeFi assets. Source: Messari

    Here’s a rundown of the state of DeFi as the sector attempts to get back to its former glory and kickstart a new bull run.

    Value locked in DeFi is on the uptrend

    Some of the best evidence for the ongoing comeback in DeFi can be found by looking at the total value locked (TVL) across the sector, which now sits at $228.05 billion according to data from Defi Llama.

    Total value locked in DeFi. Source: Defi Llama

    Despite the fact that many tokens remain well below their all-time highs, the TVL for the DeFi sector is only $28 billion below its previous high of $256.62 billion. This suggests that the DeFi ecosystem has continued to expand and attract value as new protocols and blockchain networks have launched over the past few months.

    Data from Dune Analytics shows that the total number of DeFi users has steadily increased throughout 2022 and currently sits at a record high of 4,562,318 unique wallet addresses.

    Total DeFi users over time. Source: Dune Analytics

    Related: DeFi, Web3, CBDC still unknown for most: Survey

    NFT marketplaces overtake DEXes

    One subsector of the DeFi market that has yet to really see a reversal in its downtrend has been the levels of activity on decentralized exchanges (DEXes), which is currently at its lowest point since July 2021.

    Weekly DEX volume. Source: Dune Analytics

    While it appears as though traders haven’t been too eager to swap tokens in the current environment, data from Token Terminal shows that they have been active in other areas of the market with the revenue generated by the top apps on the uptrend since bottoming in February.

    Top dApps based on daily total revenue. Source: Token Terminal

    OpenSea and LooksRare NFT marketplaces have been the top-performing decentralized applications (dApps) by revenue over the past couple of months, followed by Uniswap (UNI), Convex Finance (CVX) and PancakeSwap (CAKE).

    The overall cryptocurrency market cap now stands at $2.151 trillion and Bitcoin’s dominance rate is 41.7%.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

  • DeFi Technologies subsidiary Valour surpasses $274 million in AUM

    DeFi Technologies subsidiary Valour surpasses $274 million in AUM

    On Wednesday, DeFi Technologies announced that its subsidiary Valour reached $274.2 million in assets under management. The company offers various cryptocurrency-denominated exchange-traded products, or ETPs, listed on European exchanges.

    Cointelegraph previously reported that Valour launched two such ETPs involving Uniswap (UNI) and Polkadot (DOT) last year. For each exchange-traded product of Valour that is bought and sold on the stock exchange, Valour purchases or sells the equivalent amount of the underlying digital assets. Some of the ETPs do not charge management fees.

    The firm’s ETPs include $95.2 million in BTC Zero, $67.4 million in ETH Zero, $43.4 million in ADA Valour, $24.4 million in Valour DOT, $38.5 million in SOL Valour, and a small number of funds in Uniswap (UNI), Terra (LUNA) and Avalanche (AVAX). The total sum represents a growth of 91% compared to its total AUM of $143.5 million in May of last year. Regarding the development, Russell Starr, CEO of DeFi Technologies, commented:

    “Our team has done a tremendous job of planting seeds for future growth by launching eight ETPs across several exchanges in Europe that enable individuals and institutions to invest in digital assets. […] We are very excited about the company’s growth trajectory.”

    DeFi Technologies seeks to facilitate investors’ access to namesake decentralized finance via its ETPs, venture investment and infrastructure arm, which provides governance for blockchain networks to run independent nodes. Its shares are publicly traded on Canada’s NEO Exchange.