Tag: Cryptocurrencies
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Solana price has spiked 137% YTD as cryptocurrencies soar
- Solana is currently changing hands at $23.26, about 137% up year-to-date.
- The coin’s price plummeted after FTX fell in November, ending the year below $10.
- SOL price has soared amid positive sentiment, broader market rally and meme coin-driven interest.
Solana traded below $10.00 on the first day of 2023, having plummeted more than 73% in a massive dump following the collapse of the FTX cryptocurrency exchange.
As was the case, Solana is a blockchain project with ties to disgraced crypto figure Sam Bankman-Fried – the founder of FTX and Alameda Research. After both companies filed for bankruptcy and Bankman-Fried found himself in custody, the native Solana token SOL took a nosedive.
Solana’s SOL soars 137% year-to-date
Having ended 2022 at around $9.66, SOL price has seen impressive bullish action over the past two weeks. The token’s price has rebounded strongly to currently trade more than 62% in the past week, according to crypto market data aggregator CoinGecko.
For its YTD price, SOL is up more than 137%, trading at $23.26 across major exchanges on Monday, 16 January, 2023.
A turnaround for SOL comes on the back of positive sentiment from across the crypto, including last month’s optimistic outlook for the Solana ecosystem from Ethereum founder Vitalik Buterin.
A rebound in decentralised finance (DeFi) and meme coin craze-related activity is also leading to more buy Solana market action. Another factor driving SOL price in recent days has been the broader enthusiasm in the market after what was typically a suffocating run at the backend of last year.
On 12 January, crypto markets platform Messari highlighted that Solana was far from “dead.” According to the firm, on-chain data showed both transaction volumes and active accounts on the Solana blockchain had surged to levels last seen before the FTX collapse.
Is @solana dead? Its fundamentals might say otherwise.
Transaction volumes and active accounts both spiked back to pre-FTX levels.
While tweets and meme coins may have been the cause for recent activity, it is difficult to pinpoint the FTX collapse by looking at these metrics. pic.twitter.com/hL05ixfLVw
— Messari (@MessariCrypto) January 12, 2023
As CoinJournal previously covered, some of the uptick in activity followed the launch of meme coin Bonk (BONK), with significant spike in interest in Solana after the cryptocurrency’s airdrop to the community.
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Which cryptocurrencies are likely to find their way into Twitter’s payments?
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Investors anticipate Twitter to add cryptocurrencies to its payment methods
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DOGE, BNB, and MASK are thought to be the likeliest additions
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An addition would be followed by price surges
The acquisition of Twitter by Elon Musk elicited enthusiasm from most crypto enthusiasts. A long-standing question has been whether the acquisition will pave the way for accepting cryptocurrencies as a form of payment. The potential addition of “Payments” under Twitter’s vision, dubbed Twitter 2.0, raised the speculations. The following three are touted as the most likely:
Dogecoin (DOGE)
Surely Dogecoin (DOGE) cannot miss the list. After all, Musk has often been labelled the Dogecoin father owing to his support for the meme cryptocurrency. The token, created in 2013, has often been called a joke coin due to its limited utility.
DOGE was the first cryptocurrency to gain strongly when Musk acquired Twitter, underlining investors’ speculations. In early November, Binance announced the Bluebird Index, which included DOGE. As you already know, the “bluebird” is associated with the Twitter logo. That raised speculations that the crypto exchange was preparing to track Twitter-accepted cryptocurrencies.
Where to buy DOGE
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.
Binance coin (BNB)
Binance (BNB/USD) is the other most rumoured cryptocurrency for Twitter payment. It is the native token of Binance, the world’s largest crypto exchange. Binance helped Musk acquire Twitter, raising speculations that the billionaire investor could return gratitude by accepting BNB as payment. Besides that, BNB is now part of the Bluebird Index. Binance CEO has also hinted at possible support of BNB on Twitter.
Where to buy BNB
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.
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.
MASK
The token of the Mask Network (MASK/USD) is the last cryptocurrency in Binance Bluebird Index. The launch of the index was followed by a strong surge in MASK price as investors speculated it could make a cut in Twitter’s payment. After all, CZ has supported the idea of the use of several cryptocurrencies on Twitter’s payment module. The inclusion in the Bluebird index is the clearest sign that MASK is a crypto to watch if Twitter implements payments.
Where to buy MASK
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.
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
Summary
There are numerous cryptocurrencies that could make a cut on Twitter payments. However, DOGE, BNB, and MASK occupy the slots of top contenders. Watch their price movements if Twitter and Musk give the next hint.
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Bitcoin differs from other cryptocurrencies, says Jack Mallers
Bitcoin remains the dominant cryptocurrency and differs from the other coins and tokens currently available in the market.
Jack Mallers, the CEO of Strike, a company that allows users to buy and sell Bitcoin, said Bitcoin differs from other cryptocurrencies. He mentioned this during a recent interview with CNBC.
When asked about the recent FTX collapse and whether his company had exposure in the crypto exchange, Mallers said;
“No. Strike, myself, and Bitcoin at large have nothing to do with Sam Bankman-Fried (SBF) and FTX. It is nothing other than an absolutely disgusting and malicious crime, in the same way, that someone a car down the street from my house. It has nothing to do with Bitcoin, either. However, an important point to note is that the world is finally starting to realise that there is Bitcoin, and then there is everything else.”
Maller pointed out that many people have taken advantage of Bitcoin’s innovation to develop other coins like Orange Coin, Pink Coin, and FTX. According to Maller, most of these coins are used for crimes and have nothing to do with Bitcoin.
The use of blockchain technology to create other cryptocurrencies and use them to scam people need to stop, Maller added. He highlighted that FTX’s collapse is an expensive lesson that shows that there is Bitcoin and there is everything else. He said;
“It doesn’t surprise me that FTX owned zero Bitcoin. Because if you want to commit crime and fraud, you don’t use Bitcoin.”
Maller added that although FTX’s collapse affected the broader cryptocurrency market, it is a good thing that it happened. The bad actors in the crypto space need to be washed out, and it is best that FTX is eliminated from the cryptocurrency market.
Bitcoin is down by more than 1% in the last 24 hours and is currently trading above the $16,500 mark.
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Two Cryptocurrencies You Need To Get Stuck Into, With Big Eyes Coin And Shiba Inu
With the world of crypto constantly evolving and gaining and losing popularity and hype by the day, it can be tricky to know where to direct your attention. Who is the next best cryptocurrency? What platforms can I trust? What coins should I invest in to maximise monetary growth and success in the crypto world?We’ve got you covered.
With various coins escalating in the market and their successes being determined by the hour in some instances, many of us need direction to point us towards the best coins for us. Big Eyes Coin and Shiba Inu are game changers and it might be the right time to invest more than your time into these coins.
Big Eyes Coin And Its Cat-ulous Crypto Qualities
For many of us, the thought of involving cats in any aspect of our daily lives sounds like an absolute dream. So how about incorporating your love for the feline friends into the world of decentralised finance? How do you ask? Let’s learn.
This crypto cathouse is not yet on the market, however, its presale setup is exceeding expectations and has already raised an impressive nearly $9 million. The community-owned coin gives the users the power to have their say on the way the platform works and how the functionalities work in their favour.
Big Eyes Coin gives anyone involved in crypto at whatever level the perfect opportunity to invest in a new and exciting platform.
The crypto community also allows people with shared interests to connect and develop their understanding of cryptocurrency. It creates the perfect space for cat lovers everywhere to interact with each other and deepen their knowledge and investment into Big Eyes. With fantastic features for animal lovers and environmental impacts with the platform’s NFTs and charitable causes, Big Eyes are the coin to keep your eyes peeled for.
With the Big Eyes Coin raising nearly $9 million in just the presale alone, it is clear that this up-and-coming coin is one to buckle up for. They are also offering super cute bonuses when you sign up! When you use the code BEYES948, you can unlock even more exciting features with Big Eyes.
But when it comes to more established and well-known coins like Shiba Inu, how does it compare to the hype and excitement around the Big Eyes Coin?
Shiba Inu Looking Better Than Ever On The Market
Kickstarting in 2020, the dog meme token has inspired millions of people across the globe to invest in them. The community-led coin has evolved into a vibrant ecosystem and has won the hearts of many with its extremely cute charm. It has landed many successes in the world of crypto including being listed in Coinbase last year, which is the largest US-based crypto exchange.
How cool is that?
This spike in popularity last year caused the prices to increase by 40% in the days coming. Bitstamp, the biggest crypto exchange in Europe have also stated that it would list Shiba Inu for trading at the beginning of 2022.
The meme token is taking the crypto world to whole new levels. Not only does it make cryptocurrencies more inviting, but it attracts bigger groups of people and allows them to connect in the world of crypto. Shiba Inu brings those not too into cats to an online community to explore and invest online.
Big Eyes Coin is for cat lovers. Shiba Inu is for dog lovers. There is a crypto coin for everyone.
On That Note…
Both Big Eyes Coin and Shiba Inu both allow lovers of memes to invest in crypto. If you are a fanatic of these memes, or just looking to invest in crypto then what are you waiting for? Check the links out now and get involved.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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SHIB could rally another 20% based on these factors
Shiba Inu price took the market by surprise as a 20% rally unfolded early in the week. Key levels have been identified to gauge a potential entry before the uptrend continues.
Shiba Inu price could rally higher
Shiba Inu price rallied in applaudable fashion as the notorious meme coin pulled off a stunning 20% rally. At the current time, the bears have entered the market, forging an 8% decline. Still, there are reasons to believe the uptrend move is still ongoing.
Shiiba Inu price currently auctions at $0.00001089. During the recent upswing, the bulls have breached both the 8-day exponential and 21-day simple moving averages. Now, the two trend indicators converge under the SHIB price, which signals bullish strength.
SHIB/USDT 12-Hour Chart
A Fibonacci retracement tool surrounding the strongest part of the recent rally suggests the current profit-taking consolidation is just a 50% retracement. If market conditions persist, a bullish cross of the indicators could prompt an additional 20% rally. Key bullish targets would be $0.00001250 and potentially $0.00001300.
Invalidation of the bullish thesis could occur if the bears manage to tag the $0.00001040 liquidity zone. A sweep of the low could trigger a mudslide rally toward $0.00000970. The price of Shiba Inu would decline by 11% if the invalidation scenario occurred.
In the following video, our analysts deep dive into the price action of Shiba Inu, analyzing key levels of interest in the market. -FXStreet Team
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Best cryptocurrencies to buy as Bitcoin price rebounds
Cryptocurrency prices have made a strong bullish recovery in the past few days. Bitcoin surged to over $20,000, which was the highest level since early this month. It has risen by more than 13% from the lowest level this month. Here are the best cryptocurrencies to buy as prices bounce back.
Ethereum
Ethereum price rose sharply this week. It managed to rise to a high of $1,556, which was the highest level since September 15. It has surged by more than 25% from the lowest point in September.
Ethereum is a good cryptocurrency to buy because of its strong correlation with Bitcoin and its strong market share in key industries. For example, it has a strong stake in Decentralized Finance (DeFi) and Non-Fungible Token (NFT).
Ethereum has another catalyst. The developers are working on the next big update known as Shanghai which is expected to go live in 2023. The upgrade will bring new functionalities in the Ethereum Virtual Machine (EVM). It will also implement staked withdrawals.
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.
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.
Cosmos ATOM
Cosmos is one of the biggest blockchain projects in the world. It makes it possible for developers to build quality interconnectedness applications. Some of the top apps in its ecosystem are Cronos, ThorChain, and Osmosis.
ATOM price has risen by more than 20% from its lowest point in October. The next key catalyst for Cosmos will be the upcoming launch of the second version of Cosmos. This version will introduce staking in its ecosystem and more functionalities. The most important functionality will be on liquid staking, which will help to secure other platforms.
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.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to choose from.
It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.
Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.
Chainlink
Chainlink is a leading oracle network that makes it possible for developers to bring data from off-chain and on-chain. As such, it is widely used in decentralized finance (DeFi), where it is used by leading platforms like Aave and Uniswap.
Chainlink price has also risen by double-digits in the past few days as cryptocurrencies and DeFi rebound. Like with Cosmos, Chainlink has a catalyst that could push its price higher. First, its developers are working with Swift, the giant payment network.
Second, Chainlink price will also react to the upcoming launch of Chainlink 2.0. The new upgrade will change Chainlink into a decentralized oracle network (DON). As a result, it will become possible to power decentralized smart contracts on any blockchain. It will also introduce staking.
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.
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.
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Dogeliens, Shiba Inu, and FTX Token are 3 Potentially Profitable Cryptocurrencies for Long-Term Holdings
As the crypto market is going through a rough patch, Dogeliens, Shiba Inu and FTX tokens might help the investors gain profits they are looking for.
