Tag: Cryptocurrency

When Solana (SOL) was launched, it was seen as the most serious alternative for Ethereum. Ever since the blockchain has seen massive growth and continues to attract a host of top projects as well. But why is Solana highly rated by developers around the world? Here are the main reasons:

• The chain offers high scalability for DAPPs.

• The overall gas fees are way lower compared to other blockchains.

• Solana also runs various incentives designed to bring in as many developers as possible.

For investors looking for promising projects built on the Solana blockchain, we have a list of three here below that you can check out:

Serum (SRM)

Serum (SRM) is the main DEX for the Solana network. It is designed to reflect all the attributes of the blockchain, including better speeds, security, and low fees. Serum is however more than just an exchange. 

Data Source: Tradingview 

It’s an integrated DeFi protocol as well that allows it to offer additional services like staking and others. So far, the Serum DEX has a market cap of around $453 million. There is more room for Serum to surge in the long term.

Star Atlas (ATLAS)

Play-to-earn is seen as one of the most promising subsectors of the blockchain industry. We have seen these games go on to report massive gains in 2021, and this trend is likely to continue. 

Solana has also attracted its fair share of Play-to-earn, and Star Atlas (ATLAS) is one of the most notable ones. The game is developed by the Unreal engine and is set in an immersive virtual universe.

Raydium (RAY)

Raydium (RAY) is a liquidity provider that works using an automated market maker protocol. The goal for Raydium is to provide liquidity for the Serum DEX, but there are plans to expand it further. RAY is currently on a market cap of $350 million.

The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

• There is increased integration of blockchain gaming with the metaverse

• Play-to-earn has also seen increased NFT integration as well.

• We are likely to see increased institutional capital towards play-to-earn.

So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

Splinterlands (SPS)

Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

Data Source: Tradingview 

It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

Battle of Guardians (BGS)

Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

CryptoKitties (WCK)

CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

Waves (WAVES) has hit record highs in a recent bullish run that appears to be stronger than ever. The coin has smashed past several key indicators and looks like bulls still have a lot of room to run. So, what should you expect next? More on this to follow but first, here are some notable developments:

• Waves had rallied nearly 50% in 24 hours though it retreated slightly.

• The 24-hour surge is part of a weekly uptrend that we saw last week.

• The coin has now smashed past its all-time highs.

Data Source: Tradingview 

Waves (WAVES) – What comes next?

The rally today came on major news from the platform. Waves will now begin operations in the US and is setting aside a lot of money to bring in developers to the ecosystem. But this is not the only thing. Over the last 2 weeks, the coin has been rising and rising. 

It has gone past several resistance zones and unleashed a bullish momentum that has taken it well above its ATH. Although it is likely Waves will pull back, we do not see this happening in the coming days. 

In fact, waves is likely to test $60 in the days ahead before any sell-off even comes into the picture. The coin has for now paired all losses reported this year and is looking forward to Q2 with a vengeance.

Should you buy Waves (WAVES) now?

There is no doubt WAVES is on the run. Every indicator is bullish right now, so it’s the best time to buy for any short-term trader. Q2 also promises to be a very big period for this token. 

$60 is well in sight in the near term and as such, this gives investors a very good opportunity to make decent returns as they take advantage of this bullish sentiment.

Over the past week, Dogelon Mars (ELON) has been one of the main meme coin performers. The toke is up nearly 40% in a week or so and has shown significant bullish momentum. But how long can it sustain gains before a major sell-off? More analysis in the post but here are some important facts first.

• Dogelon Mars has outperformed the entire market by almost 15% in the past week.

• The coin has closed higher in the last four days in a row

• In the last two days alone, ELON has surged by over 25%.

Data Source: Tradingview 

Dogelon Mars (ELON) – Can bulls maintain the uptrend?

Despite this recent surge, it seems like the price action has been bouncing off two crucial support and resistance zones. In fact, ELON has tried to surge past the overhead resistance zone of $0.0000012, but bulls have not managed to get enough demand. The coin is however getting closer and closer and could break through in the coming days. 

If this happens, then we should have a sustained upward breakout that could deliver minimal gains of about 30%. Also, the sentiment in the crypto market is showing good signs. This means that investor appetite towards meme coins, which are largely speculative assets, is returning. For this reason, it is likely that in the near term, ELON will report more and more gains.

Is Dogelon Mars a good buy now?

The key for short-term traders is to watch the $0.0000012 price. If the meme coin can rise above this, then it is likely that more gains will come. We are looking at an upswing of around 30% before any pullback. 

So, with that in mind, Dogelon is a good buy. But from a long-term point of view, it would be best to wait until sentiment in the crypto market has fully stabilised before jumping in.

With hype a key price driver during alt-season, ApeCoin could be better.

• Shiba Inu is a meme coin that took the markets by storm in 2021 after it rallied by millions of percentages.

• ApeCoin is the new kid on the block in terms of hype, driven by its connection to the bored Ape NFT community.

• Now that alt-season is starting, ApeCoin makes for a better buy for investors looking to capitalize on the hype. 

Shiba Inu SHIB/USD is a meme coin that came to prominence in 2021. It went on to record gains of over 48,000,000%. Shiba Inu was largely driven by the hype around meme coins that Elon Musk triggered in 2020. Shiba Inu continues to be one of the meme coins that hold a lot of potential going into the future.

That’s because there are lots of investors who are still betting heavily on meme coins. This is driven by expectations of a repeat of the gains of 2021 at some point in the future. Besides, the Shiba Inu team is working hard to improve SHIB’s core metrics. For instance, the team is in the process of building a Metaverse platform. With the massive potential that the Metaverse holds, this is a factor that could see SHIB perform well in the future. 

On its part, ApeCoin APE/USD is the new kid on the block and is attracting all the hype. ApeCoin rallied by over 2000% since launch and continues to draw high volumes relative to most cryptocurrencies in the market. This has a lot to do with its connection to the Bored Ape community, which at the moment, is the most popular NFT community in the market. 

So, which one is a better buy?

Both Shiba Inu and ApeCoin are good investments. However, now that alt-season seems to be kicking off, it is best to move with the flow to maximize gains. Using this approach, ApeCoin is a much better buy than Shiba Inu at the moment. The odds are in its favor since it is currently drawing a lot of hype. 

Summary

Shiba Inu and ApeCoin are both fantastic long-term investments. However, for an investor looking to make the most out of their investment short term, ApeCoin has more potential. There is a lot of hype around it, and it’s now where Shiba Inu was back in January 2021.

The crypto market is often associated with high volatility, wild swings in prices, and stories of rags to riches as well. It’s therefore very hard to look at crypto-assets as serious stores of wealth. But there are actually some coins that can help preserve your money without you taking so much risk: Here is how:

• The crypto market these days has Stablecoins which are typically pegged on real assets.

• Some crypto assets have minimal volatility too, including the mega caps.

• You can buy crypto assets pegged on things like gold and other precious metals.

In case you are searching for coins that can offer you some stability in crypto, we have three here below to check out.

Pax Gold (PAXG)

As noted above, there are stablecoins in the market that are pegged on gold. Pax Gold (PAXG) is one of them. This is basically a crypto asset whose value is directly based or correlated with the price of gold. 

Data Source: Tradingview 

In essence, you get to store your asset in decentralized systems while getting the assurance of gold as a store of wealth. Many investors look at gold as the ultimate safe haven during times of volatility. PAX Gold helps you rely on gold in its crypto form.

PAX Dollar (USDP)

The Pax Dollar (USDP) is a stablecoin that is pegged on the US dollar. Just like the PAX Gold coin, its price is directly correlated with the US dollar. So, if you don’t want to put your money in fiat form, you can ditch the bank and store your dollars in crypto form. 

Tether (USDT)

Tether (USDT) is also backed by the US dollar. However, unlike PAX Dollar, it actually has much more trade volume and market cap. In fact, Tether is the most popular USD-based stablecoin in the world. It will let you store your dollars in the blockchain easily.

As the crypto market rallies at the start of the week, coins like Dent (DENT) have posted double-digit daily gains with weekly rallies of over 30% or so. But as with every bullish run, a pullback is always around the corner. For DENT, there seems to be a capped upward potential. Here is what you need to know:

• The coin has rallied by 11% in the last 24 hours

• Dent is also up by around 30% over the last 7 days.

• The recent upswing is likely to continue before capping at a crucial resistance.

Data Source: Tradingview

Dent (DENT) – Why is upward momentum capped?

After gaining nearly 30% over the last 7 days, it seems like DENT still has some room to grow. However, we do not expect the coin to truly trend upwards for long. At the moment, DENT is trading at $0.034. There are two important resistance zones to watch. 

The first one is the $0.035 mark, and the second is the $0.41. As of now, it seems like DENT is testing the first resistance zone but is yet to break through. In fact, in 24-hour trading, we saw some significant pullback from the morning sessions, where daily gains dropped from 15% to around 11%.

This could suggest that weakness at $0.35 is coming, and DENT may as well fail to surge past that first hurdle. If indeed this happens, DENT is likely to fall sharply before the end of the week. But if bulls can rally above $0.35, then $0.41 will be next.

Is DENT worth buying?

There is no momentum right now, to be fair. Yes, the coin has pushed up in the last 7 days, but we expect it to trade mostly sideways in the coming days as bulls try to smash past the crucial resistance we have talked about above. It would therefore be better to wait until the price has pulled back slightly.

DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:

• DGB is up around 90% over the last 30 days and over 100% in 14 days.

• The coin had managed to post 30% gains in 24-hour intraday trading.

• There however remains a serious risk of a sell-off 

Data Source: Tradingview 

DigiByte (DGB) – Analysis of this uptrend

For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.

The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.

While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%. 

Is DigiByte (DGT) worth buying now?

The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now. 

However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.

Holo Chain (HOT) has trended strongly upwards over the last few days. The coin has managed to post gains over the last three trading sessions in a row. As such, it has now turned bullish. But how far can it actually rise? We’ll discuss this more but first, some important facts:

• The recent rally now means that HOT has smashed past its 30-day high

• The coin has also regained over 50% from its lowest level this year.

• HOT was also up by around 15% over the last 24 hours

Data Source: Tradingview 

Holo Chain (HOT) – price prediction and analysis

Holo was already surging the past week. New announcements on the ecosystem last week had pushed 7-day gains to over 30%. However, for most analysts, the key to watch during that rally was the overhead resistance of $0.6. 

Based on the price action today, it seems HOT has smashed that threshold. As a result, HOT is expected to keep the uptrend going and is likely to test $0.01 in the near term. This will represent gains of around 50% from the current price now. 

Besides, HOT has also pushed above the average trading price of the last 30 days by over 50%. This indicates that investors are bullish about the coin and the recent gains we have seen are bound to continue. The only way this bullish momentum slows is if bulls fail to keep the price above $0.06.

Why Could Holo Chain (HOT) be perfect?

In the short term, we expect HOT to run a bit further. In fact, gains of at least 30% appear likely in the week ahead. But for long-term investors, the fact that HOT still has a market cap of less than $1 billion means that there is quite some potential. It is likely the coin will hit $0.03 before the end of the year.

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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.

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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.