Tag: altcoins

The Green Metaverse Token (GMT) emerged as one of the hottest performers in the crypto market over the last few days. The coin started the week surging and outperformed the entire market by a huge margin. But we are now starting to see some pullback. Here are the highlights:

• GMT reached $0.43 Monday, a gain of nearly 62%.

• However, there seems to be an immediate pullback.

• GMT was down nearly 25% at press time, trading at $0.28.

Data Source: Tradingview

Will GMT Stabilize in the days ahead?

A 60% surge is not uncommon in crypto. But it is always expected that after such a bullish run, some correction will come. For GMT, it seems that correction has come almost immediately. After hitting highs of $0.43, the token has now lost almost a quarter of those gains in less than 24 hours. 

At press time, the coin was actually trading at $0.28, down around 25% in 24-hour intraday trading. Crucially, GMT has lost a crucial support zone of $0.303. For this reason, we expect the correction to continue in the days ahead until the token bottoms at $0.22. This will represent over 20% in losses from the current price. 

The only way this downtrend could reverse is if GMT can find another rally that puts it above $0.4. At this moment, this does not seem likely. Bears have the momentum, and the downward pressure still has some way to go.

Is The Green Metaverse Token a good investment?

GMT is the native utility token for the STEPN network. STEPN bills itself as a lifestyle app that offers a wide range of social and gaming features. 

It is part of the Web3 revolution and remains at a valuation of around $167 million. There is a lot of unlocked potentials here, especially from investors who don’t mind being patient.

The introduction of staking could trigger a massive rally 

• Chiliz is close to launching Chiliz 2.0.

• The upgrade comes with multiple benefits, including staking. 

• Investors can look forward to a rally once the upgrade is complete. 

Chiliz (CHZ) is one of the cryptocurrencies changing the sporting world. Through the Chiliz blockchain, sports teams can create tokens that can better interact with their fans while also unlocking value in ways never seen before.

Besides its ability to transform the world of sports, Chiliz has a lot of opportunities for investors. In the last Bull Run, Chiliz was a top performer, and it has what it takes to become a top performer in the next Bull Run. Chiliz is already making moves that could trigger a rally faster than the rest of the market. 

One of these moves is Chiliz 2.0. Chiliz 2.0 is the more advanced version of Chiliz. Several factors will see Chiliz 2.0 become a game-changer in the blockchain ecosystem.

Through Chiliz 2.0, the Chiliz blockchain will move to Binance Smart. This will make it faster and, with lower fees, suitable for its adoption. On top of that, Chiliz 2.0 is set to introduce intellectual property protection technologies and consumer rights technologies.

Most importantly, Chiliz 2.0 will allow investors to stake Chiliz. This is likely to drive up the adoption of Chiliz, as investors looking to earn a passive income will flock into Chiliz. 

All these factors combined could trigger a massive rally in the price of Chiliz once the market turns bullish again. 

Chiliz range-bound 

Source: TradingView

Chiliz is currently trading between an upper bound at $0.195 and a lower bound at $0.1897. If bulls can push Chiliz through the $0.195 upper bound, it could test $0.21 in the short term. 

However, if bears take control and push Chiliz through the $0.1897 lower bound, then $0.179 could be tested in the short term. 

Summary

Chiliz is currently working on Chiliz 2.0, which will make it faster, more efficient, and introduce staking. This could be a huge deal, as it could trigger adoption and help drive up the price.

The SocialFi movement has now started to gather steam as social media becomes more integrated into the blockchain. Many investors, including traditional social media firms, are starting to pour money into new Social blockchain projects. Here is why:

• The rise of web 3.0 will drive the growth of SocialFi.

• SocialFi can address some of the key problems of traditional social media.

• Innovative projects in SocialFi are already hitting the market.

Well, while there aren’t many established social media blockchain projects as we speak, we did manage to find a few that should be worth your time. Here they are:

Ultra (UOS)

Ultra (UOS) is a social blockchain project that looks to revolutionize how content is shared across various platforms. The platform is hoping to give users the one-stop-shop to share video games, music, and other types of entertainment in a fully decentralized manner. 

Data Source: Tradingview

Ultra is relatively new and is just getting started. With a market cap of around $340 million, there is a high chance that it will gain even further in the coming days.

Steemit (STEEM)

Steemit (STEEM) is not a new social project, but it’s still very exciting. The project has had a fair bit of issues including a recent hack but they are now looking to the future. 

Steemit basically allows users to create decentralized blogs and other social media platforms within its ecosystem. You also get an easy way to monetize your content. STEEM has a market cap of $122 million right now.

MediaChain

MediaChain is an upcoming decentralized project that hopes to also provide a network of content creators from around the world. It hopes to also help people monetize data without having to go through third parties. 

MediaChain is still under development. We are not sure when it’s coming out, but it is one project you can put on your watchlist.