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  • Akash Network price jumps 12% to $0.70: What next for AKT?

    Akash Network price jumps 12% to $0.70: What next for AKT?

    • Akash Network price was up 12% in the past 24 hours.
    • The AKT/USD pair reached highs near $0.70, and needs to flip the hurdle into support to strengthen upside momentum.
    • Hype around AI and cloud computing could add to the bullish outlook.

    Akash Network, a decentralized marketplace for cloud computing, has seen the price of its native token AKT jump by more than 12% in the past 24 hours.

    While the resistance level at $0.70 remains key for bears, bulls’ sharp bounce over the past day has AKT trading in a positive trend. With altcoins also mirroring Bitcoin’s trajectory, the latest upsurge could be the base for a fresh attempt at recapturing the coveted $1.00 level.

    Akash Network price prediction

    Selling pressure saw AKT lose the important $1.00 level in May 2022, with lows of $0.22 reached in May this year. Since then, bulls have hit the $0.75 zone twice in the past two months. However, rejection at the level meant a retest of support at $0.50 in mid-July.

    Prices have however remained above an ascending trendline support, suggesting bulls are still determined to reclaim the upper hand. If price breaks above $0.75, it could go on to retest the supply wall expected at $1.00.

    Part of the Akash Network’s bullish momentum is likely to come from the launch of its Akash GPU mainnet. After successfully navigating the testnet in May, with multiple AI models tested on the NVIDIA A100, Akash moved a step closer to offering the first open-source marketplace for HD GPUs. 

    Excitement for what could be AI Supercloud, fueled by massive predictions for the artificial intelligence industry, will likely cascade into the AKASH market.

    Akash Network price chart. Source: TradingView

    The daily RSI indicates that momentum remains with the bulls, a scenario likely to be helped by a strengthening of the MACD indicator. 

    Also key is the continued support of the 50-day exponential moving average, currently providing a base at $0.57.

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  • Bitget Token (BGB) jumps after MEXC announces listing

    Bitget Token (BGB) jumps after MEXC announces listing

    • Bitget will list MX Token (MX) while MEXC will add Bitget Token (BGB).
    • Both listings will be on July 31, with trading pairs BGB/USDT and MX/USDT.

    Bitget Token (BGB), the utility token of crypto exchange Bitget, will be listed on MEXC Global on July 31, the exchanges announced on Friday.

    MEXC will list the Bitget token in the Innovation Zone and has opened deposits for BGB. Initial supported pair will be BGB/USDT, with trading set for Monday, July 31 at 10:00 UTC. Withdrawals will be available from August 1, 2023 at 10:00 UTC, the exchange noted

    As MEXC lists BGB, Bitget will also be adding trading support for MX Token (MX), the native utility token of the MEXC Global exchange. The simultaneous listing will go live on July 31, with MX/USDT added to the Platform Token Zone.

    BGB price jumped more than 4% following the listing news, with the utility token’s value reaching an intraday high of $0.46. This isn’t far from the all-time high for BGB/USD, which was $0.51 reached in February this year.

    Bitget launched an updated version of its token in July 2021. It is used as a form of payment in the exchange platform’s ecosystem, and can be staked or for discounts on trading fees.

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  • Polygon (MATIC/USD) jumps 3% on Mastercard partnership. Is it now bullish?

    Polygon (MATIC/USD) jumps 3% on Mastercard partnership. Is it now bullish?

    • Polygon’s MATIC rose more than 3% after its partnership with Mastercard for Web3

    • The network had a range of Web3 partnerships in 2022

    • MATIC still lacks sufficient upside and is vulnerable at $0.77

    Polygon (MATIC/USD), a Layer-2 scaling solution on Ethereum, is showing little signs of stopping in 2023. After the busy year 2022, the network has again inked a partnership with payments giant Mastercard. In the latest cryptocurrency news, Polygon will help Mastercard launch a Web3-focused incubator for artists. Polygon’s native token reacted to the positive development, adding an intraday of 3%.

    According to the announcement, Mastercard’s accelerator program will launch in Spring 2023. It is expected to equip emerging artists – musicians, producers, and DJs with the skills and tools in a digital economy. Artists can build their brands through Web3 and virtual worlds through the program. 

    The partnership earmarks Polygon as a go-to protocol for major brands, governments, and NGOs entering Web3. Polygon Studios CEO Ryan Wyatt says Web3 has the potential to help artists expand their fan base. This is through new mediums of connection and expression that will be possible through the Matercard accelerator program. Other brands courting Polygon for Web3 include Starbucks, Nike, Meta, and the social platform Reddit. The partnerships helped MATIC remain relatively stable compared to peers as the crypto winter ravaged 2022.

    MATIC struggles above the $0.77 support

    MATIC/USD Chart by TradingView

    A technical outlook shows MATIC struggling to recover at the $0.77 support. The cryptocurrency has been consolidating at this support for three weeks. Although the MACD indicator shows momentum has improved, it is still bearish. 

    What is likely next for MATIC?

    The price of MATIC is vulnerable as long as bulls remain weak at the $0.77 support. Although buyers have defended the support successfully for a while, the limited upside is a reason to exercise caution.

    A potential break below $0.77 could heighten bear pressure. In the meantime, consolidation is more likely unless buyers get excited by the latest development and push MATIC higher. 

    Where to buy MATIC

    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.


    Buy MATIC with eToro today

    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.


    Buy MATIC with Binance today

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  • Helium token jumps 36%. Is this a bull trap?

    Helium token jumps 36%. Is this a bull trap?

    • Helium token rose by 36% on Thursday before correcting

    • Helium powers IoT devices through its “hotspots”

    • The cryptocurrency remains on a clear downtrend

    A few cryptocurrencies embarked on relief rallies on Thursday, although a low-cap coin was among the top gainers. Helium (HNT/USD), a cryptocurrency ranked #91 by market cap, rose by 36% before shedding nearly half of the gains by Friday. In an exceedingly bearish crypto market, the small-cap token warranted investors’ attention. What is it?

    Helium is a blockchain-powered network that was created in July 2019. It is made to power Internet of Things devices. For instance, it enables wireless devices to communicate and share data through its nodes or “hotspots.” The network also lets users profitably earn by sharing their broadband.

    You would be forgiven for thinking that Helium is less used. Companies that use the IoT technology service of Helium include Abeeway, Agulus, and Airly. The network has been witnessing increasing growth and now connects nearly 1,000k hotspots. In September, Helium announced a migration to Solana to grow its ecosystem. That was after more than 6,000 members voted in favour. The goal of moving to Solana was inspired by the need to cut reliance entirely on its network.

    While Helium token price could be earning boosts from the recent changes, the price is unconvincing. Trading at just $2.0, HNT remains on a clear downtrend. The cryptocurrency has lost 96% of value since its $57 all-time high price in November 2021. The cryptocurrency faces resistance at the 50-day MA.

    Helium token rejected at the 50-day MA

    HNT/USD Chart by TradingView

    Helium outlook shows the price coming under pressure as it touched the 50-day MA. From the volume indicators, a price spike happened at $1.6, indicating that buyers were very active. The cryptocurrency traded with an intraday 1,500% jump in volumes at the bottom price.

    What next for HNT?

    Despite the intraday gains, HNT price lacks a clear path to recovery as the trend is still bearish. The gains could be a bull trap, especially after getting rejected at the moving averages.

    Where to buy HNT

    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.


    Buy HNT with Binance today

    Vindax

    VinDAX Exchange has been live for cryptocurrency trading for global users since March 2019. VinDAX focuses on providing exchange services for digital cryptocurrency transcations with high security level, excellent efficiency and well-optmized trading fee.


    Buy HNT with Vindax today

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  • Voyager token (VGX/USD) jumps 24%. Here is the reason and potential price action next

    Voyager token (VGX/USD) jumps 24%. Here is the reason and potential price action next

    • Voyager token rose by double-digits on Thursday

    • Reports of acquisition by Binance.US boosted the token

    • The token faces a correction at key resistance

    Voyager (VGX/USD) was at the centre of retail interest on Thursday, witnessing a surge in trading volumes. The cryptocurrency of the embattled crypto firm Voyager Digital was strongly mentioned on social trading platforms. Positive cryptocurrency news was boosting the token of the bankrupt crypto lender.

    On Thursday, reports emerged that Binance.US was buying the embattled crypto firm. Voyager filed for bankruptcy protection in July in a liquidity crisis after a sustained crypto winter. Binance CEO Changpeng Zhao confirmed the purchase reports on Thursday. CZ said Binance.US would bid again for Voyager after the deal with collapsed FTX didn’t go through. 

    Binance.US is not the only entity to eye the assets of Voyager. On November 22, Kaj Labs said it would launch a second offer to acquire the assets of the embattled firm. Kaj Labs says it still sees value in the assets of Voyager and will negotiate in good faith with the firm. However, the entry of Biannce.US to the bidding war has attracted attention.

    VGX traded at an intraday high of $0.53, from the lows of $0.35. As of press time, the cryptocurrency was trading at $0.44 after a brief correction. The next price action and developments would determine whether we see a sustained bullish surge for VGX.

    VGX correcting at resistance after intra-day gains

    VGX/USD Chart by TradingView

    On the daily chart, VGX has initiated a short-term bullish trend since bottoming at $0.2. Following the intra-day gains, the cryptocurrency rose above resistance at $0.44. However, the price has retreated and could close below the resistance.

    The RSI has moved above the neutral zone. There are no bought conditions, nonetheless, suggesting that a higher price is possible.

    Should you buy VGX now?

    The closure of the daily candlestick above $0.44 could ignite bull interest in VGX. However, this cryptocurrency is being driven by speculations. 

    Thus, short corrections can occur if the projected buyout of the embattled firm fails to occur. Buying VGX now could be premature, and it’s good to wait until further developments.

    Where to buy VGX

    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.


    Buy VGX with Binance today

    Swapzone

    Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


    Buy VGX with Swapzone today

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  • Ankr Network token (ANKR/USD) jumps 6% to resistance

    Ankr Network token (ANKR/USD) jumps 6% to resistance

    • Ankr Network token rose after becoming a RPC for Sui blockchain

    • ANKR remains subdued by a resistance

    • The token could correct despite the intraday gains

    Ankr Network (ANKR/USD) witnessed increased investor interest on Thursday, pushing the token up 6%. The gains reflected positive cryptocurrency news. Attention will not shift to whether the token will sustain gains as it hits a key resistance level.

    Ankr is a platform that provides access to the decentralised internet. The network aims to eliminate the barriers to entry to the blockchain by decentralising control to users and developers. To achieve this objective, Ankr provides simple tools and interfaces for Web3 development. ANKR is the native token that powers the ecosystem and helps in on-chain governance.

    Thursday’s gains of ANKR token came after becoming the first Remote Procedure Call provider for the Sui blockchain. The announcement on November 22 indicated that Ankr would let developers create and upgrade dApps on top of Sui. Ankr will also support the Sui mainnet after it goes live. There is additional expected support for docs, tools, and features for the Web3 developers. The partnership also opens opportunities for geo-distributed and decentralised RPC for Sui. 

    The latest announcement also coincides with the increasing growth of Ankr staking. According to the network’s November 23 Twitter post, more than 56,000 ETH has been staked with Ankr staking. The developments have since fueled increased speculation for the network’s native token.

    ANKR faces correction at $0.026 despite the intra-day surge

    ANKR/USD Chart by TradingView

    Despite the intra-day gains, ANKR has met resistance at $0.026. The cryptocurrency is correcting, resulting in a potential bearish pin bar below the key level. Besides, the long-term trend for the token is bearish.

    When to buy ANKR?

    ANKR is not yet a buy despite a positive price action. A recovery from the bearish market will be confirmed if the cryptocurrency breaks above the $0.026 support. Buyers will still need to be cautious of a retracement at the descending trendline. 

    On the flip side, the formation of a bearish signal below the key support would make ANKR vulnerable. A price back to the $0.019 support or lower would be in sight. 

    Where to buy ANKR

    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.


    Buy ANKR with eToro today

    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.


    Buy ANKR with Uphold today

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  • Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) coin price jumped 10% in the previous three days. Additionally, the Shiba Inu burn rate spiked at 14,267% early on Thursday.

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  • SHIB prepares to eat one zero after burn rate jumps up 1,494%

    SHIB prepares to eat one zero after burn rate jumps up 1,494%

    • Shiba Inu burn rate is up 1,494% after a massive burn of 147.5 million SHIB over the past week. 
    • SHIB burn rate has steadily declined, weekly burn in October is similar to the daily burn in the month of August 2022. 
    • A new Shiba Inu whale scooped up 3.36 trillion SHIB in a single transaction. 

    Shiba Inu’s burn rate has climbed 1,494% – a significant increase over the past 24 hours. Based on data from the portal that tracks Shiba Inu’s burn implementation and statistics, Shibburn, the pace of SHIB token destruction has picked up. Normally a bullish factor, the exponential increase in the burn rate is a reaction to SHIB price’s recent weakness, and holders are hopeful it will have a reversal effect.

    Also read: AAVE and Tezos XTZ arrive on commission-free trading platform Robinhood

    Shiba Inu’s burn rate climbed because of this factor

    Shibburn website statistics reveal that Shiba Inu’s burn rate has spiked up significantly over the past 24 hours. 45.16 million SHIB were burned over the past day and 147.5 million Shiba Inu tokens were permanently pulled out of circulation through last week. 

    Shiba Inu sent to a dead wallet address is permanently removed from circulation and considered burnt. There are two addresses that serve the purpose of dead wallets, identified as Burn Address one and two (BA-1 and BA-2) on the Shibburn portal. Several large wallet investors have contributed to the massive burn of the meme coin. 

    Shibburn burn transactions, SHIB tokens transferred to BA-1 or BA-2

    Shibburn burn transactions, SHIB tokens transferred to BA-1 or BA-2

    In August 2022 the daily burn was higher than weekly burn in October 2022. Shiba Inu holders used to send one or two billion meme coins on average to “dead” wallets. The burn rate has declined consistently over the past two months so the recent sudden rise must be set against an overall decline in tokens burned. 

    Will Shiba Inu price eat a zero?

    On October 19, Shiba Inu price suffered a decline, ‘adding’ a zero to the asset’s price (after the decimal stop). Shiba Inu is currently changing hands at $0.00000999. The Shiba Inu community typically increases the pace of SHIB burn and accumulates SHIB when the asset adds a zero. Combined efforts of Ethereum whales holding Shiba Inu and retail SHIB traders usually pushes the Dogecoin-killer’s price higher. 

    A whale wallet tracker platform @whale_alert alerted SHIB holders to a new whale who added 3.36 trillion Shiba Inu tokens in a single transaction on October 24. This is the first ever transaction by the whale, and the creation of more large wallet investors in Shiba Inu fuels bullish sentiment among holders. 

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