Lucky Block (LBLOCK) has been surging today. Although most coins in the market are posting some gains, LBLOCK is on another level. But could this signal a sustained bullish run that will take the coin to $0.1? It remains to be seen, and here are some facts to keep in mind:
Surging to $0.1 will mean Lucky Block (LBLOCK) will grow nearly 100x.
It’s the second day in a row the coin has posted double-digit gains.
At the time of writing, it was trading at $0.0048, up around 20%.
Data Source: Tradingview
Lucky Block (LBLOCK) – is $0.1 a bridge too far?
Well, Lucky Block (LBLOCK) is a coin that has a lot of potentials. But for it to hit $0.1, it will need to deliver gains of almost 100x. This is not unprecedented in crypto, but there are many barriers right now.
The key thing to note though is that Lucky Block (LBLOCK) has actually not been listed in any of the major exchanges out there. This gives it huge upside potential. Typically, coins can explode in value once they start to enter the main exchange platforms.
Lucky Block (LBLOCK) is also undervalued. It has a market cap of around $140 million, but it could be bigger. The road to $0.1 is not impossible. But it will take a bit longer. This is because conditions in the market right now are not that good.
Is Lucky Block (LBLOCK) a good asset?
Lucky Block (LBLOCK) is trying to build a global lottery using the power of blockchain technology. It’s an innovative concept that could open the door for more betting-related services.
Based on that alone, it looks like a decent buy. Besides, the project has been attracting a lot of capital and backing from investors. It’s only a matter of time before it becomes huge in the crypto market.
As the crypto market shows some bullish signs today, 1Inch (1INCH) had posted impressive gains in 24-hour intraday trading. But those gains have pulled back. The coin was under a lot of pressure in recent weeks. It seemed for a moment things were finally looking up. But how far can today’s rally go? Here is what you need to know first:
1INCH still remains bearish despite the recent surge in the price.
The coin has lost 85% from its all-time highs too.
At the time of writing, 1INCH was trading at around $1.49
Data Source: Tradingview
1Inch (1INCH) – Predictions and analysis
It’s not that long ago when 1INCH was hitting an all-time high of $8.29. This in fact happened at the end of 2021, and there was a lot of hope that 2022 could be huge. But things have not really taken off. 1INCH has now tanked, and at one point, it was just hovering around $1.
But there are signs things may start to turn. First, the coin has managed to cross over a crucial overhead resistance of $1.39. 1INCH has consolidated above that price and is now trying to trigger sufficient demand for a bullish break. But we do not see enough upside right now to push the token above $3.
It will take time before those $8.39 highs are repeated. But in the short term, 1INCH could still hit $3 before it pulls back once more.
What is the value of 1Inch Network (1INCH)?
1Inch Network (1INCH) is a network that hopes to create a collection of fast-growing decentralized protocols. The aim is to provide a robust infrastructure where people or organizations can launch innovative blockchain solutions.
The project has received a lot of investment and still has some potential to deliver real gains in the long run. It currently has a market cap of around $600 million.
The explosion of play-to-earn games in the blockchain has been spectacular. In 2021, play to earn coins in the market were the fastest growing assets. Although they have lost some of the gains made last year, this subsector remains very promising. Here is why:
Play to Earn incentivizeS players to play for rewards.
The integration of NFTs into Play-to-Earn games is bringing a new dimension.
All major blockchain developers and investors are backing blockchain games.
So, if you missed Axie Infinity, there are still other upcoming blockchain games that could deliver impeccable outcomes. Here they are:
Illuvium (ILV)
Illuvium (ILV) is an immersive RPG adventure game that gives players access to broad landscapes and exciting gameplays. It is built on Ethereum and comes with various levels. There is also NFT integration and staking as well for investors.
Data Source: Tradingview
Illuvium is hoping to become a dominant strategy game that will attract millions of daily users. It is still at its initial phase right now too. Its native token ILV is currently trading at $534, up around 5% for the day. The project also has a market cap of under $346 million.
Battle of Guardians (BGS)
Battle of Guardians (BGS) is another real-time and immersive game that has dubbed itself “The future of fighting games”. It has full NFT integration as well and strives to give users a real battle experience all through the game. There is also an expansive gaming universe to keep things fresh. The native token for the game is the BGS, and it is trading at $0.01265 right now.
High Street (HIGH)
High Street (HIGH) has integrated both play to earn and the metaverse. In addition to the immersive games, users can also own various in-game items, including virtual real estate. High Street is actually working to bring big brands into its digital universe. Its native token HIGH was trading at $3 at press time.
The metaverse wipe-out we saw during the last week has pushed a lot of coins way lower from yearly highs in 2022. Gala Games (GALA) has not been spared, and the coin has been on a massive downturn since the end of February. But are there signs of a recovery? Here is what we know:
GALA could rise above its 20-day EMA in the days ahead.
The EMA will create important support for price consolidation in the near term.
The meta coin was trading at $0.22 at press time.
Data Source: Tradingview
Why does the 20-day EMA matter for GALA?
Trend reversals are very crucial in technical analysis. In most cases, when coins have dropped consistently over a long period of time, bulls are often watching for the right trend reversal to buy. For GALA, rising above its 20-day EMA of $0.28 could signal a trend reversal is coming.
This will in turn trigger a buying frenzy that will push the meta coin well above $0.36. This will be almost 80% above the current price which is presently at $0.22. The most important indicator to watch in this setup is the $0.21 support.
The bulls will need to defend this zone and create enough momentum for the next leg up. If GALA falls below that threshold, it will be very hard to see any recovery. In fact, the coin could easily bottom to $0.17 before it rises again.
Why is Gala Games (GALA) trending lower?
Much of these losses were occasioned by news that Meta Platforms, one of the key tech drivers in the metaverse, missed earnings expectations. But the high market volatility due to economic and geopolitical pressures has played a big role.
This volatility is sadly here to stay for the foreseeable future. But even with that, overall, the longer-term outlook for GALA remains largely in positive territory.
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.
The Bored Ape Yacht Club (BAYC) has officially revealed their ERC-20 utility and governance token ApeCoin (APE), marking a diversification from profile-picture projects (PFPs) into “culture, gaming and commerce” within the Web3 sphere.
The asset has been developed and launched by the ApeCoin decentralized autonomous organization (DAO), a distinguished entity from Yuga Labs, who have established a six-month tenured council committee comprising of Alexis Ohanian, Amy Wu, Maaria Bajwa, Yat Siu and Dean Steinbeck, to oversee the DAO development.
ApeCoin’s official Twitter account stated Thursday that the members of the BAYC ecosystem will be granted a 90-day window of opportunity to claim their allocation of 10,000 tokens commencing March 17 at 12:30 pm UTC.
Token claim is now open. If you own a BAYC Ecosystem NFT, go here: https://t.co/NLOB0m4cqf Reminder: the claim period will be open for 90 days, and tokens associated with an NFT can only be claimed once.
A number of prominent exchanges such as Binance US, FTX, Gemini and OKX, among others have already pledged to list, and enable public trading of the asset on their platforms.
Despite this, others have profited from the market euphoria with the launch of similarly named tokens like APECoin.dev. The project in question has amassed a market capitalization of over $1.5 million with a price of $0.145. In response, CoinMarketCap has published a red warning tag on the page advising that the token is not affiliated with the official BAYC project, and should not be interacted with.
Cointelegraph spoke to Insight, a Bored Ape holder and NFT journalist, for an expert perspective on the community’s expectations for the release.
“This airdrop will be unprecedented there is no doubt”, he stated, “but historically in the space, we have watched these airdrops pump and slowly fizzle out as the engagement dissipates. That being said, with the momentum of BAYC and their positioning in the NFT space as the number 1 collection, I believe things may be different.”
“I don’t think we will see the emotional attachment that holders have for the ape NFTs themselves, but either way this is HUGE for both ape holders and the space as a whole.”
As a consequence of the asset’s launch, the average price of the BAYC collection rose significantly across the last seven days from 76.11 ETH on March 11 with a total volume of 913 ETH, to an average price of 110.15 ETH and a volume of 9,583 ETH in the hours preceding launch on March 17.
In a parallel trend, the floor price also witnessed a growth spurt, before falling sharply upon the ApeCoin launch from around 108.69 ETH to 78 ETH at the time of writing.
Additionally, the floor price of the accompanying collections Mutant Ape Yacht Club, and Bored Ape Kennel Club has experienced major fluctuations, currently sitting at 15.85ETH and 5.8ETH, respectively.
A sharp upside retracement in the Avalanche (AVAX) market this week has raised its possibilities to rise by another 100% in Q2.
Avalanche chart painting a ‘bull flag’
The bullish outlook primarily appears in the wake of AVAX’s multi-month bull flag setup, which formed after a strong price move higher to over $150, an all-time high in the Avalanche market. In detail, the setup is a downward sloping channel, denoted by two parallel trendlines against the previous trend, with volumes declining to underscore a weakening downtrend.
In a perfect scenario, bull flags resolve with a breakout move above their upper trendlines, followed by an extended uptrend, with the profit target at length equal to the size of the underlying asset’s previous uptrend (also called flagpole).
That could have AVAX’s price to undergo a similar upside move in the coming weeks, beginning with a close above its interim resistance of 20-week exponential moving average (20-week EMA; the green wave in the chart above) and later with a breakout above the flag’s upper trendline.
As a result, AVAX may eye a run-up towards $157, up more than 100% from its current prices near $77.
AVAX price downside risks
The latest bout of buying in the Avalanche market has appeared largely due to its strong positive correlation with Bitcoin (BTC).
Notably, AVAX and BTC were moving in tandem almost perfectly at the beginning of 2022, with their correlation coefficient coming out to be between 0.90 and 0.99. However, as of March 17, the reading had corrected to around 0.79, still underscoring Avalanche’s continued preference of mirroring the benchmark cryptocurrency’s moves.
AVAX/USD and BTC/USD daily price chart featuring their correlation coefficient. Source: TradingView
On March 16, Fed’s chairman Jerome Powell said that the U.S. economy is strong enough to bear higher interest rates as he announced the central bank’s first rate hike since 2018.
Meanwhile, Joel Kruger, a strategist at crypto exchange LMAX Digital, noted that the central banker’s hawkish tone could pressure Bitcoin into falling further away from its all-time high of $69,000.
“Rates going higher will strangle equity markets. So if we see a mass exodus out of risk assets, it’ll weigh on everything,” he told Bloomberg, stressing that Bitcoin could fall to $20,000, thus contributing “to a decline in crypto assets.”
As a result, AVAX’s bullish outlook risks invalidation as long as it tails Bitcoin’s price accurately. That could mean a potential price pullback from its interim resistance level of around $80, coinciding with the 0.618 Fib line of the Fibonacci retracement graph drawn from $9-swing low to $152-swing high.
AVAX/USD daily price chart. Source: TradingView
If the correction occurs, AVAX’s next support line appears at the 0.786 Fib line around $64.
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.
Ripple (XRP), the enterprise payment technology company, plans to give out one billion XRP in grants for developers. The newly announced grant is an extension of the company’s XRPL Grants program, which was launched in 2021.
The developer grant would be focused on encouraging open-source projects on the XRP ledger built for enterprise remittance assistance. Ripple has built a strong foothold in the Asia Pacific region through its XRPL based remittance technology called RippleNet
Ripplenet offers a real-time gross settlement system, currency exchange and remittance network with the help of the XRP ledger. The remittance platform has partnered with hundreds of banks to build a payment network of its own.
According to the current XRP price, the total value of the grant is about $794 million, out of which the firm has awarded a total of $6 million in funding to over 50 projects to date. The firm would offer financial, technical and business assistance to developers looking to build on XRPL.
Ripple’s new developer grant would be released over the course of the next decade. The firm would conduct a number of boot camps to encourage and onboard developers. The first two waves of the XRPL grant were focused on the nonfungible token and federated sidechains, while the third-wave aims to onboard open source projects on its ledger.
Ripple’s remittance technology has become quite popular in the past few years, owing to its advantages of lower costs and more instantaneous transactions than the traditional payment gateways. According to a recent report, Ripple partner The Clearing House is in talks with Wells Fargo to develop a SWIFT alternative.
Klaytn (KLAY) had a promising start in March 2021, reaching an impressive $11 billion market capitalization following its debut. However, investors have exaggerated their expectations as the token’s current total value stands at $3 billion, down roughly 70%.
KLAY/USD on Binance. Source: TradingView
Although not as well known as the leading smart contract blockchains, Klaytn remains a top-35 token by capitalization rank. Moreover, the network holds $1.2 billion worth of deposits locked on smart contracts. Capital locked on smart contracts is known in the industry as total value locked, or TVL.
Real use cases and strong backing
Klaytn is a flexible modular network architecture created by Kakao, a publicly-traded South Korean internet giant. The Asian tech group’s shares are valued at $36 billion, backed by diverse applications in traditional markets, including games, chat, taxi and rides, financial services, and a venture arm.
Businesses can customize and operate their own service-oriented blockchains built atop Klaytn architecture. These autonomously operated subnetworks are called Service Chains and are fully customizable.
The network is fully functional, offering decentralized applications (dApp) ranging from DEX exchanges, nonfungible token (NFT) marketplaces, social networks, collateralized loans, and games. For instance, KlaySwap, Klaytn’s leading dApp, holds $746 million in TVL and 19,840 active addresses over the past week.
According to Klaytn’s blog, the network is gearing up its infrastructure to provide services for the gaming and metaverse sectors. Initiatives include launching an open-source tools developer package that incorporates layer-2 solutions and adding direct support to Ethereum Virtual Machine (EVM) applications. Additional services include providing management and financial support for projects with high potential.
Klaytn’s roadmap includes higher scalability by leveraging layer-2 service chains, additional interoperability bridges with other blockchains, and integrating an Interplanetary File System (IPFS) gateway for decentralized storage.
Klaytn smart contracts deposits jumped 24%
Despite KLAY’s negative 15% performance over the last 30 days, the network’s TVL increased by 24% in the same period. As a comparison, Arbitrum scaling solution stalled at $1.7 billion, and Polygon decreased to $3.35 billion from $4.65 billion on Feb. 15.
Klaytn Total Value Locked, USD. Source: DefiLlama
In dollar terms, Klaytn’s current TVL of $1.2 billion is 13% below its $1.35 billion peak in January 2022. Yet, these figures represent less than 2% of the aggregate TVL (excluding Ethereum), according to DeFi Llama data.
In terms of recent developments, on Feb. 17, Klaytn joined the Blockchain Game Alliance, which encourages the development of standards and sharing of best practices in the decentralizing gaming sector. The initiative also aims to increase the public understanding and awareness of blockchain games.
To confirm whether Klaytn’s TVL growth is backed by increased adoption, one should analyze DApp usage metrics. Some DApps, such as games and collectibles, do not require large deposits, so the TVL metric is irrelevant in those cases.
As shown by DappRadar, on March 15 the number of Klaytn network addresses interacting with decentralized applications decreased by 5% versus the previous month.
Even though Klaytn’s TVL has increased by 24%, the network lacks a more substantial user base growth to support further KLAY token price momentum. Still, KLAYswap, the leading Dapp, presented a decent 39,090 active addresses over the past 30 days.
The above data suggests that Klaytn has found a niche within the decentralized application segment. If the project’s proposed features come to fruition, KLAY’s token price will likely hold $1.05 as medium-term support and present a decent upside.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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.
Data Source: Tradingview 
