Tag: Cryptocurrency

The crypto market, in general, has steadied after a very volatile period during the start of 2022. Analysts are now focusing on long-term outlooks, and one coin that has grabbed the attention of everyone is Kava (KAVA). Could it actually hit $40 by year-end? Here is what you need to know:

• Short term volatility has put a lot of pressure on KAVA

• Hitting $40 will mean that the coin needs to grow 10X from its current price

• While this looks farfetched, it is not entirely impossible

Data Source: Tradingview 

Kava (KAVA) – The road to $40?

At the moment, KAVA is trading at around $3.89. Based on the performance of the crypto market over the last three months, it’s hard to imagine that KAVA could grow 10x before the year is out. But it’s actually not that hard to imagine. 

There are several reasons for this. First, Kava is adding EVM support. The move will make it interoperable with ERC 20 tokens. This is likely going to push more DeFi projects into the network. Also, EVM support means that apps already built for Ethereum can be deployed on Kava. 

In addition to this, it seems like the sentiment in the market is actually looking better than it did three months ago. Investors have started to price in the economic and geopolitical factors at play. As the broader market surges, KAVA could still follow. Despite this, we still think there are so many downside risks that will make the $40 dream very hard to achieve.

Is Kava (KAVA) worth the risk?

Kava is a great project and has been for the last few months. It has simply suffered from the general trend in the market. But its long-term value still remains very high. The fact that it’s adding more interoperability into its system is a big deal. Even if it doesn’t hit $40, it could still offer 3x or 4x growth.

After seeing gains over the past few trading sessions, Terra (LUNA) has stagnated and is starting to pull back. We have also seen the price action hover around a very tight range. We may see a small correction in LUNA in the near term. Here are some of the facts:

• After surging for a few days, it is likely investors will take profit.

• Failure to clear above $90 at the start of trading Monday could suggest weakness.

• The relative Strength Index also shows a bearish outlook in the days ahead.

Data Source: Tradingview 

How far can Terra (LUNA) drop?

We are not looking at a huge drop here. In fact, in the last 24 hours, the stablecoin platform had lost around 1%, but more will come. The key will be to look at the $90 mark. This had always proved to be a key support zone for LUNA. 

If at the start of trading on Monday the coin is well below that, then we could see a wipeout of at least 15% before the end of the week. Besides, there is a trend in this volatile market over the last few months to note.

You see, in most cases, bullish momentum is driven by short-term speculative traders. It is likely they will lock profit at $90. This is going to trigger a mini sell-off that could push LUNA further towards $75.

Is Terra (LUNA) worth your time?

Well, the fact that Terra (LUNA) is among the top 10 crypto assets in the market means that you should give it your attention. But it doesn’t seem like there is any serious upside momentum right now. 

A good play will be to wait for the correction to come through in the coming days and then buy at $75 or thereabout. But short sellers can also play the short-term decline for a profit.

There are a lot of ways to make money in the crypto industry. While buying crypto assets and holding them for capital appreciation is the most common, it is actually possible to earn very good annual yields with staking and yield farming. Here is why yield farming makes sense:

• It helps to preserve your capital for a longer time.

• You can earn yields while your crypto assets appreciate in value.

• Yield farming is available in almost all blockchains out there.

With that said, if you are trying to find some decent opportunities for yield farming, we have a list here below that can be perfect for this:

Uniswap (UNI)

Uniswap (UNI) is the biggest decentralized exchange on the Ethereum chain. It requires a lot of liquidity and as such, users can stake their crypto assets and earn yields from these liquidity pools. 

Data Source: Tradingview 

The great thing about Uniswap is that it offers the best returns of any staking and yield farming program. We are talking about annual yields of between 20 and 50%.

PancakeSwap (CAKE)

PancakeSwap (CAKE) has also been doing a very good job of offering decentralized exchange services using liquidity pools. It’s more or less like Uniswap. But its yields are just crazy. Users can earn between 8% to as high as 250% for staked assets. The range is huge no doubt but even 8% a year is not that bad.

Cranos (CRO)

Cranos (CRO) was formerly known as Crypto.com. It is one of the main crypto exchange platforms in the world, with trade volumes in the billions of dollars. The change to Cranos however reflects the direction that Crypto.com wants to take. 

In a nutshell, the goal is to bring more DeFi features into its ecosystem. But in case you would want to make a decent and long-term income here, the staking and yield farming program is quite impressive. Users can earn up to 15% in yields each year.

It seems like the crypto market is starting to find its legs again. After ups and downs over the last three months, we have seen sustained periods of consolidation. Positive investor sentiment is starting to come back. So, here is what to expect:

• A lot of coins are likely to go on decent bull runs

• Pullbacks will come of course, but the general trend will be up.

• Risks however still remain, including high inflation and conflict in Europe.

For investors looking for bullish cryptos, there are a lot to choose from. But we decided to pick out three of the best.

Ripple (XRP)

Ripple (XRP) has had its issues this year. The coin was in the middle of a big lawsuit with the Securities and Exchange Commission or SEC. Because of this uncertainty, a lot of investors were staying away from XRP. 

Data Source: Tradingview 

The coin has therefore remained highly undervalued but in the last few weeks, it seems like the SEC case is now starting to go away. XRP has therefore remained bullish and could surge very strongly in the near and medium-term. In fact, we are likely to see the unlocked potential of XRP come to the fold.

ThorChain (RUNE)

A lot of positive ecosystem news has been coming out of Thorchain (RUNE) over the last week or so. The coin has also managed to snap out of the February downtrend and is gaining quite a lot. In fact, RUNE is up 20% in the last 7 days. The trend will continue in the near and long term.

Convex Finance (CVX)

Convex Finance (CVX) is one of the most promising DeFi projects in the market. The project is actually up by around 30% for the week. As the DeFi revolution continues to expand, coins like CVX are likely to get more demand. This will eventually push the price action higher and higher.

Metaverse and gaming tokens have not had an easy March. The tokens have lost massively from 2022 highs. But it seems the month could end on a high. Axie Infinity (AXS), one of the leading gaming and metaverse tokens in the world, has been surging in recent days. Here are some details:

• AXS has gained over 20% over the last 24 hours or so.

• The move came after the game’s developer announced new changes on governance.

• The surge pushed AXS to a new two-month high.

Data Source: Tradingview 

Axie Infinity (AXS) – The outlook

The long-term outlook for Axie Infinity (AXS) has often been quite positive. The volatility of the last few weeks is only a bump in what is expected to be a great year for AXS. The key now will be to watch how the coin will keep up the momentum. 

Hitting a 2-month high is a big thing, especially when you consider just how far AXS had fallen. But AXS is not the only blockchain gaming token rising. In fact, after news broke that FTX and PUGB were getting into crypto gaming, almost all Play-to-Earn tokens saw major gains. 

But AXS remains the stand-out performer with a 44% gain for the week. We expect this bullish surge to maintain at least in a week or so before it retreats.

Is Axie Infinity (AXS) still a good buy?

There were a lot of fears that perhaps AXS may have lost its momentum. After dominating GameFi in 2021, the NFT inspired game has continued to face increased competition from other newer games. 

But despite this, we expect Axie to continue playing a key role in the GameFi sector. As a long-term asset, it is going to offer steady and decent gains for investors. The biggest downside risk is a decrease in active monthly players due to other entrants in GameFi.

Solana (SOL) has been on a decent bull run over the last few weeks. After tanking to around $60 just the other day, the altcoin has been rallying, and it doesn’t seem like the momentum is about to stop. Here is what we know so far:

• Solana has surged above $100 for the first time in weeks

• The bull run has smashed past several key overhead resistance zones.

• The coin is likely to settle at $130 in the near term.

Data Source: Tradingview 

Solana (SOL) – How will the momentum play out?

The broader crypto market has been doing quite well as we wrap up March. But altcoins like SOL have seen more gains. The coins have also had a brutal start to the year. Even though we have seen rallies here and there, the general trend for SOL and other altcoins has been very bearish. 

But SOL appears to have reversed that trend. After bottoming to around $60, it seems like bulls have now taken over. Also, SOL has smashed past several key overhead resistance zones, including the $95. 

The goal now for bulls will be to get the coin above $105. If this happens, it is likely that SOL will continue surging before finally settling at around $130. However, this thesis will be invalidated if bulls are not able to keep the price action above $95.

Why Solana (SOL) is a good buy?

Solana (SOL) has remained one of the hottest crypto assets on the planet. It is touted as the Ethereum killer thanks to its faster transaction speeds and low gas fees. The recent dip basically gave investors the chance to buy on the cheap. 

But overall, Solana is expected to smash well above $200 somewhere this year and end even further higher by the time we cross into 2023. For any investor, owning SOL is highly recommended.

Splintershards (SPS), one of the leading blockchain play-to-earn gaming platforms, has reached another huge milestone. As a result, its native governance and utility token SPS has been surging in the last few days. Here are some of the details:

• Splintershards (SPS) has now reached over 2 billion in games played

• The milestone indicates Splintershards growing dominance in this area.

• The native SPS token has been surging as a result in the last few days.

Data Source: Tradingview 

Splintershards (SPS) – Where will the momentum go?

Reaching 2 billion in total games played is no easy feat. The play to earn space within blockchain has seen immense growth of course. With this boom in P2E expected to continue in 2022, we expect Splintershards (SPS) to surge even further. 

Also, Splintershards (SPS) has confirmed that it sold millions of new cards in a live unboxing event that was held for its loyal fans a week ago. Despite this, at the time of writing, the price action appeared to have stagnated a bit. 

It seems like investors have started to price in the 2 billion milestones. While we expect SPSs to see more bullish momentum, in the days ahead, at some point before the end of next week, it will plateau before it retreats.

Is Splintershards (SPS) the future of Play to Earn?

A lot of investors are looking for new and promising opportunities in GameFi. This industry is likely going to be a huge part of the blockchain ecosystem. But even though new projects can be exciting, sometimes it’s also nice to look at tried and tested solutions. 

Splintershards (SPS) has been around since 2018 and continues to achieve milestone after milestone. As the GameFI revolution takes shape, SPS will be at the center of it all. Besides, the token has a market cap of $62 million so there is a lot of growth possibilities.

The crypto market in general is coming out of a period of consolidation over the last few weeks. Coins are surging, and Holo Chain (HOT) is one of them. In fact, HOT has been one of the top performers of the last week. Here is what you need to know:

• The coin had surged by close to 10% over the last 24 hours

• HOT is also up by around 30% over the last 7 days or so.

• This uptrend is likely to maintain in the week ahead.

Data Source” Tradingview 

Why is Holo Chain (HOT) surging?

The main reason why we saw a surge in HOT over the last few days was a new announcement on the ecosystem roadmap that looks to make the project huge. But even with that, HOT had actually shown a lot of bullish signs before. 

For example, it had managed to cross above a crucial overhead resistance zone of $0.004. Also, the coin hit a monthly high at the start of the week. The bullish outlook still remains intact. In fact, we are watching to see if bulls can push the price above $0.006. 

If this happens, we could see decisive gains that could target $0.01 in the near term. This will represent a 50% surge from the current price. But if the price falls below $0.004, then more weakness could ensue.

Should you buy Holo (HOT)?

Holo markets itself as a peer-to-peer chain that hopes to provide a fast and reliable infrastructure for the deployment of decentralised apps. The project is also introducing new tools to help bridge the gap between decentralized systems and centralized ones. 

The fundamentals are indeed quite good, and we have seen a lot of resilience as far as HOT goes. In the longer term, we expect the price outlook to remain positive and upbeat.

• QTUM Rallies ahead of Binance Blockchain Week, where it is a premier sponsor. 

• Binance Blockchain Week is a big deal and will draw crypto investors from across the globe. 

• QTUM price action points to more gains in short to medium term.

Qtum QTUM/USD has been one of the top-performing cryptocurrencies over the last 24-hours. In this period, QTUM is up by over 20% and gaining. While this is purely price action at play, there is a good chance that QTUM could sustain the rally over the next couple of days. This has a lot to do with the upcoming Binance Blockchain Week that will take place in Dubai on March 28th.

QTUM will be the event’s premier sponsor, and quite naturally, this means it will attract a lot of attention. Under the current setup where bullish momentum is on the rise across the market, this could trigger a major rally in the price of QTUM into April. 

For context on how big the Binance Blockchain Week deal is, it will have more than 80 influential speakers, over 10 panels and fireside chats, and over 10 keynotes. This means it will likely pay attention across the global crypto community, and even people who may not know how powerful QTUM is will likely be interested in the project. 

However, besides the short-term attention, QTUM has all the hallmarks of a winner, especially now that bullish momentum is rising across the market. QTUM is a blockchain platform built on the Bitcoin UTXO but runs on PoS. This makes it energy efficient while leveraging on the simplicity of the Bitcoin code. The result has been huge adoption for Dapps, which can only grow going forward.

QTUM moving averages point to further gains

Source: TradingView

In the last 24-hours, QTUM buying volumes have shot up. The 50-day and 100-day moving averages are looking up, while the 20-day moving average is outpacing them at an accelerated rate. This indicates that buying volumes are rising fast, and the price could rally even further in the short term.

Summary

QTUM is rallying at the moment and is up by over 20% in under 24-hours. QTUM is likely to get a boost from its sponsorship of the Binance Blockchain Week on March 28th. Long term, QTUM fundamentals are likely to drive its price even higher.

• IoTeX inked a deal with Google for global expansion.

•  The IoT market is growing at a CAGR of 20%, which is a plus for IoTeX

• The broader market is bullish, which is a plus for crypto with strong fundamentals like IoTeX 

The cryptocurrency market has turned strongly bullish over the past week. IoTeX is one of those that have gained the most momentum and is up by over 20% in the last 48-hours alone. While this has a lot to do with the upside momentum across the market, IoTeX internal fundamentals are also a factor and we could see IoTX keep hitting higher prices both in the short term and long term.

IoTeX IOTX/USD has positioned itself as one of the leading cryptocurrencies taking blockchain technology to the fast-growing IoT market. Through IoTeX, users of IoT devices can have more control over their data and interact with the internet more securely. 

With the IoT market now worth $308.97 billion and expected to grow at a CAGR of 25% up to 2028, it’s a market all set to be worth trillions of dollars in the coming decades. For this reason, IoTeX has been inking high-profile partnerships that are likely to play well into its price dynamics in the future.

Earlier in the month, it emerged that IoTeX was teaming up with Google to reach the global market better. According to the founder of IoTeX, adoption is growing at a rate of 20% a month, and with the partnership with Google Cloud, expansion can happen at an even more accelerated rate.

IoTeX price consolidates after pump

Source: TradingView

After a massive pump on March 21st, IoTeX has been consolidating over the last few days. It continues trading between $0.104 and $0.10, but buying volumes are rising. If IoTeX has enough volumes to break the $0.104 resistance, it could test $0.15 pretty soon.

Summary

IoTeX has been one of the top crypto performers in the last few days. This has a lot to do with the pump across the market and IoTeX fundamentals that include a partnership with Google. IoTeX buying volumes are rising while the price consolidates, which points to a potential breakout in the short term.