Tag: altcoins

CRO sponsorship of the world cup likely to drive its price in 2022

Key Points:

• With speculation rife that Ripple could win against the SEC, XRP prospects look good. 

• CRO continues to increase in value as the Crypto.com network grows in adoption. 

• While both XRP and CRO are good investments, CRO has better odds due to its sponsorship of the upcoming Football World Cup. 

Ripple XRP/USD has long held its position as a top 10 cryptocurrency. Despite having a lot of challenges regarding the lawsuit by the SEC against Ripple and its founders. With speculation high that the lawsuit could end soon, and in Ripple’s favor, optimism around XRP remains high. Now that the broader market is turning bullish again, a change in fortunes in the case against Ripple could see XRP emerge as a top-performing cryptocurrency in the short to medium term.

Besides the speculative aspect of it, XRP has a pretty strong use case in payments. It is already adopted by multiple banks in Asia and continues to grow as a fast, efficient, and low-cost method for sending money value globally. This use case pretty much cements XRP’s potential to gain in value.

On its part, Cronos CRO/USD is part of the Crypto.com network a blockchain payment system that makes it easy for people to trade crypto and use cryptocurrencies for payments without compromising privacy or security. Like XRP, Cronos (CRO), the native token of the Crypto.com network, has been growing in adoption, signaling to the underlying value of the network. As the market turns bullish again, CRO has what it takes to perform well.

Why CRO could outperform XRP

While CRO and XRP have growth potential, CRO is in a unique position in terms of short-term gains. This has all to do with the upcoming world cup in Qatar. Cronos will be among the official sponsors of the World Cup that will take place in November 2022. Given that the World Cup is watched by millions of people globally, this sponsorship’s publicity could trigger adoption at scale and, by extension, FOMO around the CRO token.

Summary

XRP and CRO are gaining in adoption in the fast-growing payments market. While both have high growth potential, CRO has better odds short term due to the upcoming World Cup in Qatar, where it is one of the official sponsors.

After the recent hack on Axie’s sidechain, money could flow more into SAND

• Sandbox is one of the fastest-growing play-to-earn gaming platforms, with growing adoption.

• Axie Infinity is a play-to-earn gaming platform with crypto’s most expensive NFT collection.

• While both are good investments, AXS could underperform SAND after the Ronin network attack.

Sandbox SAND/USD is one of the best-known play-to-earn gaming platforms today. The popularity of Sandbox games has been instrumental in the rise of SAND’s value since 2021. However, besides play-to-earn gaming, Sandbox has been venturing into other things that could trigger significant value growth for SAND. For instance, Sandbox has agreed with Warner Music that would see virtual concerts take place inside the Sandbox Metaverse. This, coupled with the growing interest in the Metaverse, makes SAND a potentially good cryptocurrency to buy in 2022.

On its part, Axie Infinity AXS/USD is an equally strong play-to-earn gaming platform. It is the largest play-to-game platform globally and has an NFT collection whose value is second to none. Due to its edge as a market leader, Axie Infinity is likely to get even more popular as play-to-earn becomes more important in the gaming industry.

Why SAND holds an edge over AXS

While both SAND and AXS have strong prospects in the long run, SAND could outperform in the short term. This has a lot to do with the negativity around Axie Infinity’s recent hack. A few days ago, it was revealed that Axie Infinity’s Ronin Network was attacked, and $600 million worth of Ethereum was stolen. Since such events usually create market panic, AXS is likely to rag behind SAND even as bullish momentum returns to the market.

Summary 

Sandbox is a play-to-earn gaming platform that is one of the fastest-growing in the Metaverse ecosystem. On its part, Axie Infinity is one of the largest play-to-earn gaming platforms in the market and has one of the most expensive NFT collections in crypto. While both will perform well long-term, the recent attack on Axie Infinity’s Ronin network could see it underperform SAND in the short term.

After seeing a major sell-off at the beginning of the year, The Near Protocol (NEAR) appears to have fully recovered. In fact, the coin started to pair up losses well before the entire market rebounded and has since maintained this uptrend. Here are some details:

• Since the end of February, NEAR has risen steadily in price.

• The coin has breached various crucial resistance zones in the process.

• But increased liquidation of long positions could spell doom for the altcoin.

Data Source: Tradingview 

Near Protocol (NEAR) – Understanding the risks

The steady jump that NEAR has reported since the end of February has been quite impressive. The coin is now trading well above its 200- and 50-day simple moving averages, something that indicates bullish momentum. 

In fact, NEAR is one of the few coins in the top 20 that has managed to breach the 200-day SMA. The RSI is also indicating that further upside is coming. The coin could surge past $20 in the days ahead. But despite this impressive uptrend, there is one thing that should get investors quite worried. 

According to data provided by Coinglass, there has been a significant increase in liquidation for long positions. This essentially means that investors who had bought NEAR to hold it for a long period of time are already out of money. What is now left is a huge portion of short positions which are very prone to profit-taking. If this happens, which is quite frankly very likely, the uptrend NEAR has reported will slow significantly.

Why should you buy NEAR anyway?

Despite this downside risk, NEAR is still bullish, and it has a very good chance of posting more gains in the near term before any pullback. However, it would be best to lock in profits once the coin touches $20. This will still represent a net gain of around 25% from the current price.

The last week of March has probably been one of the best for crypto this year. Coins have been on the rise and it seems the momentum is not about to slow down. But as with every strong uptrend, corrections are indeed inevitable. Here is why we think a pullback is coming:

• Bitcoin and other major caps have stagnated after the recent uptrend

• Short-term buyers have largely driven this surge and will take profit at some point.

• It seems like the continued rise was seen in the last two weeks has lost strength.

There will however be coins that will face major corrections than others. We have created a list here to check out:

PancakeSwap (CAKE)

PancakeSwap (CAKE) has actually surprised many analysts with its recent uptrend. The coin did not seem like it hard any buyer demand but has somehow managed to pull up in the market. CAKE has now added at least 30% to its value over the last week. 

Data Source: Tradingview 

But looking at the price action today, CAKE has slowed in fact, even though the coin has reported modest gains, it has failed to overcome overhead resistance. We expect a small correction to follow in the days ahead.

Skale Network (SKALE)

Skale Network (SKALE) was also another major surprise. The coin was just teetering, and all of a sudden, it shot up from nowhere. SKL has now gained 112% in the last week, with 35% of that coming in the last 24 hours. The token will likely add more gains before it finally corrects in the near term.

IOST (IOST)

IOST (IOST) has also pushed its uptrend to a whole new level, adding around 80% in gains over the last seven days. But even though the coin doesn’t seem like it’s about to slow down, at some point bullish momentum will die. This may in fact happen sooner than you think.

One of the best strategies to grow your capital from crypto would be to find low-cap coins that have so much potential. Coins below the $50 million mark in market capitalization are in particular, quite good and here is why:

• Microcap coins tend to have so much room to expand

• Demand for promising microcaps will always be high among investors

• Small-cap projects tend to be new and often under the radar

So, if you are looking for the next big project with a small market cap today, we have listed three coins below that you can consider:

Numbers Protocol (NUM)

It seems like in recent years, everything has been going toward the blockchain. But very few projects have come up to create a decentralized photo network where artist and creators can share their work securely. 

Data Source: Tradingview 

The Numbers Protocol (NUM) is trying to address this problem by providing the infrastructure needed. With the increased popularity of NFTs, NUM could see major gains and its market cap remains at just $38 million.

Gods Unchained (GOD)

GameFi is also one area of the blockchain industry that is worth looking at. There have been many games, some of which have gone on to make huge money. Gods Unchained (GOD) appears to have that kind of potential. It’s a free-to-play card game that allows users to earn crypto rewards in the process. The project has a market cap of $35 million.

Cream Finance (CREAM)

Cream Finance (CREAM) is a lending protocol designed to offer crypto-backed loans to people around the world. There are many lending protocols of course but CREAM is trying to offer users better terms and easy access to collateralized loans. With a market cap of just $14 million, you could unlock a lot of future potential with this coin.

There are now signs that the crypto market is on a path toward full recovery. After a terrible start in 2022, a lot of coins in the market have started to show positive momentum. We are at the beginning stages of a crypto rally in the coming weeks, and here is why:

• Investor sentiment around major coins has improved massively.

• We have seen most coins gain important momentum in the last few weeks.

• Inflationary pressure and risky equities are pushing investors towards crypto.

So, if you have been waiting for this bull run for some time, there are a few coins that would be worth getting. Here they are:

Cardano (ADA)

Over the last week, Cardano (ADA) has been on fire. The coin has established this strong uptrend and has managed to cross past several crucial indicators. Although the coin slowed a bit over the last few days, the overall outlook remains very positive. 

Data Source: Tradingview 

We expect ADA to continue the upward ascend in the days ahead. It is therefore a great buy for bulls who want to ride this momentum and cash in some profits.

Near Protocol (NEAR)

We have seen NEAR slow down even as other coins in the market rise. The coin has however managed to pick up some momentum and has since crossed past various crucial resistance zones. The only way for NEAR is up right now. As sentiment improves in the market and investors pour more capital into crypto, you can expect some positive price action from NEAR.

Internet Computer (ICP)

Despite gaining 20% over the last 7 days, ICP has also been quite slow compared to the rest of the market. We expect this to shift in the days ahead, with more gains coming in Q2. ICP has the potential to deliver at least 30% in the next bull run.

There have been stories in crypto where people have gone from rags to riches in literally months. Shiba Inu for example was one coin that astonished everyone in 2021 with unimaginable growth. For this reason, a lot of investors are always looking for the next big coin that will deliver 10x or more in growth. Here is what to look for in case you want such projects:

• Always focus on microcaps that have smaller valuations in the market.

• You must be first or among the first people to invest in that asset.

• Always analyze the underlying business behind a coin before you buy.

Well, we have done some research on these coins and came up with a list of assets we think have the potential to 10x in the near term. Here they are:

Highstreet (HIGH)

The rise of the metaverse will be the next big thing in crypto. As we speak, a lot of money is flowing towards metaverse projects, and the few metaverse coins we have in the market are seeing strong growth. 

Data Source: Tradingview 

Highstreet (HIGH) however offers the incredible promise of outstanding returns. The coin combines virtual reality, NFTs, and gaming in one large metaverse. When you consider that HIGH has a market cap of $89 million, it could easily grow 10x in no time.

Base Protocol (BASE)

For example, let’s say you want to speculate on crypto without having to buy many coins; what do you do? Well, Base Protocol (BASE) allows you to get that option. This is a coin that is pegged on the overall market cap of the crypto industry at a rate of 1:1 trillion. 

Considering that it has a market cap of around $1.5 million, there is just something raw about this coin that could explode massively in the future. BASE is a short to medium-term asset worth your shot.

Decentraland (MANA) is one of the biggest metaverse projects in crypto right now. But it is not alone in fact, many new projects have been coming up, and they are far cheaper and less risky. But why would you even be considering getting an alternative to MANA? Well, here are some facts:

• Decentraland appears to have very limited upside potential.

• Investors are always looking for new, more exciting projects.

• There is a lot of room on the metaverse for a lot of coins to shine.

With that in mind, we decided to come up with a list of MANA alternatives that have immense potential. Here they are:

Genesis Worlds (GENESIS)

Genesis Worlds (GENESIS) dubs itself as the 100-year metaverse. Its concept is largely based on how Decentraland works. In essence, users get to buy virtual real estate and other virtual items that are backed by NFTs. 

Data Source: Coinmarketcap.com

However, Genesis offers a more immersive virtual experience and is also adding social and gaming elements into its metaverse. What makes this project so exciting is the fact that it still has a market cap of around $1.4 million. The potential for growth is huge.

Terra Virtua (TVK)

Terra Virtua (TVK) is a blockchain project which is planning to combine NFTs and virtual reality fully. The aim of this project is to give users a way to interact with digital collectibles in an immersive experience within the metaverse. There will also be a virtual marketplace within the metaverse where users can sell and buy NFTs.

CEEK VR (CEEK)

CEEK VR (CEEK) is music and entertainment-centered virtual universe where artists can monetize their content within the metaverse. The aim is to promote virtual performances and concerts as well as celeb-inspired virtual communities. CEEK is a highly undervalued project with so much potential for growth.

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.