bitcoinlfg

Category: NEWS

  • Toncoin (TON/USD) is on the verge of a breakout

    Toncoin (TON/USD) is on the verge of a breakout

    • Toncoin has been bullish lately

    • The cryptocurrency is retesting the resistance at $1.97

    • Investors should watch for a breakout for a chance to buy the token

    Toncoin (TON/USD) trades at $1.97. The level is an important resistance zone; it is the third time the cryptocurrency has tested it since September. TONCOIN was trading with increasing momentum at the crucial level, implying that buyers were looking for a potential breakout. Will it happen?

    Toncoin is a decentralised blockchain and a Layer-1 protocol. The project was founded in 2018 by Telegram before being abandoned. The acquisition by the TON Foundation saw its name change from “Telegram Open Network” to “The Open Network” or simply, TON. 

    TON is a community-driven protocol. It features a flexible architecture with a focus on the typical customer. The blockchain’s mission is to have a robust ecosystem for decentralised services, storage, instant payment, and a domain name system. It is regarded as one of the fastest blockchains. In September 2021, at the height of the crypto boom, Ton processed a then-world record 55,000 transactions per second in a contest. The TPS has since grown rapidly in line with improving technology.

    TONCOIN, the native token, has, however, succumbed to the bear market. The token topped $4.8 in December 2021. It now trades at less than half the value, although the price is still sound compared to most cryptocurrencies. TONCOIN is now giving bulls an alert ahead of its next move.

    TONCOIN retests the $1.97 resistance

    TONCOIN/USD Chart by TradingView

    Technically, TONCOIN is trading with bullish and improving momentum. The MACD indicator is bullish as the cryptocurrency retests the $1.97 resistance. A break above the resistance would allow TONCOIN bulls to push the price to the next possible resistance at $2.8.

    What to do next for TONCOIN?

    Wait for a confirmation of a breakout at $1.97 before buying TONCOIN. With the cryptocurrency getting rejected at the crucial level three times, investors should also be prepared for a correction. A rejection of the upside will pit TONCOIN back to $1.

    Where to buy TONCOIN 

    As TONCOIN is such a new asset, it’s yet to be listed on major exchanges. You can still purchase TONCOIN using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy TONCOIN right now, follow these steps:

    1. Buy ETH on a regulated exchange or broker, like eToro ›

    We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

    2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

    You’ll need to create your wallet, grab your address, and send your coins there.

    3. Connect your wallet to the 1Inch DEX

    Head to 1Inch, and ‘connect’ your wallet to it.

    4. You can now swap your ETH for TONCOIN

    Now that you’re connected, you’ll be able to swap for 100s of coins including TONCOIN.

    Share this article
    Categories
    Tags

    Source link

  • Solana (SOL/USD) price movement should worry buyers

    Solana (SOL/USD) price movement should worry buyers

    • Solana token has been consolidating for a month

    • The FTX crash has been a blow to SOL’s price and recovery

    • SOL trades with lower volumes, and a potential drop could occur

    Solana (SOL/USD) trades at $13. The cryptocurrency has held to this key level for a month now. The level was reached after a sharp sell-off. That gives buyers the confidence that SOL is consolidating ahead of a potential takeoff. However, it is also true that SOL is just one potential bear leg, and the token will hit levels at or below $10. Fundamentals have not been favourable either.

    CoinJournal previously reported that activity on the Solana blockchain was on the decline. That comes even as investors lose trust in the proclaimed Ethereum killer. Earlier in the year, frequent network hacks accelerated SOL’s bear market, amid an ongoing crypto winter. The latest blow now comes from the FTX crash in November, which took SOL to $13. However, even as other major cryptocurrencies make some comeback, SOL continues to struggle. Investors are still not convinced, a month after the FTX exit.

    Solana Compass shows that Alameda Research still possesses 48.6 million Solana tokens. The total worth of the tokens is around $700 million, representing nearly 9% of SOL in circulation. Clearly, such reports may spell doom for SOL.

    SOL trades with weakening volume at $13

    SOL/USD Chart by TradingView

    Looking at the daily chart, SOL trades with negligible and falling volumes despite holding at the $13 support. The level coincides with the 20-day MA but is below the 50-day MA. Although the MACD indicator has slightly improved, momentum is weak and bearish.  

    From a technical point of view, SOL is consolidating, but the bear pressure could mount as buyers weaken at the developing support.

    What next for SOL?

    A weak trading volume suggests buyers avoid SOL despite the price holding strongly to $13. Although the consolidation is positive and could give buyers time to push prices higher, the token is under pressure. Investors should remain cautious before buying SOL.

    Where to buy SOL 

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SOL with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy SOL with Binance today

    Share this article
    Categories
    Tags

    Source link

  • Axie Infinity (AXS/USD)continues to face rejection. Are buyers giving up?

    Axie Infinity (AXS/USD)continues to face rejection. Are buyers giving up?

    • Axie Infinity token lost 6.60% on Thursday despite previous gains

    • Axie Infinity has been recording increasing activity on the platform

    • The token faces resistance at the 50-day moving average

    After strong gains, Axie Infinity’s (AXS/USD) price is weakening. The token traded down by 6.60% in 24 hours, despite retaining a 16% weekly surge. As CoinJournal reported, Axie Infinity’s bullishness reflected increasing activity on the blockchain.

    The increased activity on the play-to-earn gaming platform happens even as decentralisation takes shape. According to a December 05 announcement, “invested” community members have come together to achieve the goal. The announcement stated that more than 600 dedicated members had come together to share Axie Infinity’s future. Besides, Axie Infinity is building an inaugural pilot “season” for its “Governance” section. As a result, it has selected 700 contributors for the trials.

    The reaction of the Axie Infinity token to the recent developments may foretell that some positives are to be expected. However, AXS remains subdued by a bear market. 

    AXS trades at the 50-day MA but is facing bear pressure

    AXS/USD Chart by TradingView

    From the technical outlook, AXS faces pressure, although the momentum is slightly bullish. The MACD indicator is bullish and recently crossed above the neutral zone. The cryptocurrency trades at the 50-day MA after initially pushing above it.

    Can AXS sustain the upside?

    Largely, AXS’s price is bearish. The cryptocurrency has been on a downtrend. If bulls are to capitalise on the relief rally, they must avoid a drop below the 50-day MA. Recovery at the moving average will set AXS for the next potential resistance at $11.

    Conversely, a drop below will pit AXS to the 20-day MA or $6 bottom. Investors should watch the price action for further confirmation.

    Where to buy AXS 

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy AXS with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy AXS with Bitstamp today

    Share this article
    Categories
    Tags

    Source link

  • Bitcoin slides, but you do not want to miss out

    Bitcoin slides, but you do not want to miss out

    • Bitcoin has lost a weekly 1.52%, and bear pressure is high

    • A quantitative analyst expects a bottom in around 3 months but says Bitcoin is attractive

    • Bears have an edge as long as BTC does not recapture $19,000

    Bitcoin (BTC/USD) has lost 1.52% in a week as most cryptocurrencies struggle. Despite recovering slightly by 0.25% in the day, the price of the largest cryptocurrency was struggling to retain the $17,000. As of press time, BTC was trading at $16,860. That has raised questions over the potential of Bitcoin to recover to the $19,000 resistance. 

    But a renowned crypto analyst thinks Bitcoin is a bargain at the current low valuation. The crypto analyst dubbed PlanB expects Bitcoin to rally at least 5,800%. Consider that Bitcoin is trading at about 4 times less value than its all-time high of over $68,000. Reflecting on the stock-to-flow model, the analyst says the current BTC price is a “steal.”

    Typically, the stock-to-flow model assesses assets’ value by comparing their current price to the supply. In his view, if we consider BTC’s original 2019 model or the $55,000 model, BTC’s next halving could catapult prices to $100k-$1 million. He expects the supply to be squeezed in 2024, around the halving event. But how about the short-term price?

    PlanB opines that BTC’s bottom could occur in around three months. He says the price of BTC hits the bottom 18 months from the record high.

    BTC is struggling to rise at the 20-day MA

    BTC/USD Chart by TradingView

    From the daily chart technical outlook, BTC’s upside is limited. Although the price has kept the $16,000 support intact, bears are exerting pressure as prices recovered above the 20-day MA. 

    The RSI is pointing lower and sliding further from the 50-midpoint reading.

    Will BTC remain bearish?

    The limited upside on BTC price indicates that the bear market is far from over. The $19,000 remains the crucial resistance. If BTC breaks below $16,000, the next level to watch is around $13,000.

    Where to buy BTC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

    Share this article
    Categories
    Tags

    Source link

  • Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo james Said Big News is Coming in next 48 to 72 hours in a post on telegram . This can be about a big partnership with an exchange or an utility that will build alcazar tokens reputation among whales . but we don’t know .The news is looking bullish for alcazar token holders

    CHART https://www.dextools.io/app/en/ether/pair-explorer/0xf1dc4832d49c9fcfcdb8118cd93f77806f17484c

    remmember this is not a financial advise do your own research before investing in any cryptocurrency

  • Floki Inu is the Most-Mentioned BNBCHAIN Project on Twitter

    Floki Inu is the Most-Mentioned BNBCHAIN Project on Twitter

    Source link

  • Normalcy returning to crypto markets, on-chain data shows

    Normalcy returning to crypto markets, on-chain data shows

    Over the last few months, the crypto market has largely been pretty serene. Bitcoin had been in crab motion around $20,000 for quite a while, as it plodded along while waiting for the wider macro conditions to make a move.

    I wrote in late October to be cautious around this price action, and that Bitcoin could be one bearish event away from an aggressive downward wick. What I did not except was that event to be shake crypto to its bones, as one of the blue-chip companies in the space, FTX, inexplicably descended into insolvency.  

    This obviously shook markets. Last week I assessed how the flow of bitcoins out of exchanges has been fierce, as people’s trust in these central entities to store their coins was understandably at an all-time low. 

    In fact, I saw yesterday that 200,000 bitcoins have left exchanges since the FTX implosion. But now, the data suggests that the market is calming down a bit. And again, it seems like we may enter crab mode until macro provides an impetus one way or another – or an unexpected crypto-specific development comes out of the woodwork. 

    The first way to demonstrate that the dust is beginning to settle is by looking at Bitcoin’s volatility. This obviously spiked as Sam Bankman-Fried’s “games” were revealed to the public. But after remaining elevated throughout the last few weeks, it has fallen back down to more standard levels in the last few days.  

    Another way to view this is the falloff in large transactions. These transactions (defined as greater than $100,000) jumped up in the few days around the bankruptcy, but have fallen gradually since, back to the same levels we have seen throughout much of 2022.

    Another useful metric to track is the net realised profit or loss of moved coins. This spikes in times of crisis as the price abruptly drops, before typically coming back towards the $0 mark as the markets calm down.

    The below chart shows this well, with trades on November 9th netting an ugly $2 billion loss, before November 18th then topped this with a $4.3 billion loss. That is lower than the worst mark post-Celsius crash ($4.2 billion loss) and Luna ($2.5 billion loss).

    This reflects the continued downward pressure on Bitcoin’s price, but the trend has bounced back up to close to zero again.

    FTX was a central part of the ecosystem, and its bankruptcy understandably rocked the market. As I wrote recently, this contagion is not over.

    Yet data from the last week or so suggests that normalcy is returning to the crypto markets. Going forward, it may tread water again for a while. With China opening up post-lockdown, the latest inflation numbers imminent and the EU ban on Russian crude imports, macro certainly has a lot going on. 

    Crypto investors will just need to hope that the crypto-native scandals are out of the way for the time being.  

    Share this article
    Categories
    Tags

    Source link

  • Shib tops the list of Most Purchased coins and adds whooping number of new holders

    Shib tops the list of Most Purchased coins and adds whooping number of new holders

    Source link

  • Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo Said Big News is Coming | is this bullish ? should you buy more?

    Alcazar Token Ceo james Said Big News is Coming in next 48 to 72 hours in a post on telegram . This can be about a big partnership with an exchange or an utility that will build alcazar tokens reputation among whales . but we don’t know .The news is looking bullish for alcazar token holders

    CHART https://www.dextools.io/app/en/ether/pair-explorer/0xf1dc4832d49c9fcfcdb8118cd93f77806f17484c

    remmember this is not a financial advise do your own research before investing in any cryptocurrency

  • The largest 100 wallets on BNBChain have acquired a whooping number of Dogecoin

    The largest 100 wallets on BNBChain have acquired a whooping number of Dogecoin

    Source link