Crypto News

Cryptocurrencies With Incredibly High Market Caps

Cryptocurrencies are an online alternative to FIAT currencies, and because of the way they are designed, they offer added protection to those using them just like a licensed and SSL encrypted live casino ensures protection for its players. Transactions with them are anonymous and the currencies cannot be duplicated or falsified. Having said that, new users of cryptocurrency may feel overwhelmed by the sheer amount of variety the currency offers and the differences between them. Read this article to find out more about the more common cryptocurrencies. Bitcoin — BTC Around 2008, Bitcoin (BTC) was the first cryptocurrency and is currently the highest-ranking of cryptocurrencies. An anonymous collective known as Satoshi Nakamoto is credited with creating this coin. It is exchanged from person to person, controlled by no one bank. BTC can be used for a variety of purchases and the coin’s market cap has surpassed the US$100 billion range. Ethereum — ETH A close second to Bitcoin, Ethereum (ETH) is another decentralized software platform. The coin was released to the public in 2015 after a fundraising effort. One of the main advantages of ETH is the speed of the transaction time, which is mere seconds when compared to other cryptocurrencies. ETH can be used for any transaction where cryptocurrencies are accepted. The market cap for ETH is also over 100 billion US$. Tether — USDT Unlike Bitcoin and Ethereum, Tether is what is known as a stablecoin. Tether can be used on blockchains, but the value of USDTs is attached to the FIAT value. For example, $1 = 1 USDT. The Tether platform was created in 2014 in order to facilitate the use of digital currencies and digital transactions. Nowadays, this coin ranks third after Ethereum and Bitcoin and has a market cap is on two-digit billion. USD Coin A new way of using FIAT money, the USD Coin is a tokenized form of United States dollars. The USD Coin is an alternative to other online tokens, facilitating the use of American dollars in the digital marketplace. They can also be converted into physical USD at any point in time. As such, the price of 1 USD Coin is equivalent to $1. Binance — BNB The Binance Coin, or BNB, is the fifth-ranking cryptocurrency in terms of both popularity and profitability. Created in 2017, this coin has risen through the ranks to become the 5th most popular cryptocurrency. It is primarily used for the payment of transactions or trading fees on Binance, an online platform dedicated to cryptocurrency exchange, along with tokens mentioned above. As it stands, the market cap for this coin is too on over two-digit billion. Conclusion The world of cryptocurrency may seem complicated and intimidating at first, but once you learn the basics, you can see all the possibilities this digital market can offer. As with most endeavors where financial investment and risk are involved, you should take the time to research the different coins and find the cryptocurrency which works for your needs. Take the time to find reputable sources of information and enjoy diving into the world of cryptocurrency!     Image by Sergei Tokmakov Terms.Law from Pixabay

Crypto News

Avalanche Might Continue Its Downtrend As Price Slips To $16

Avalanche had performed well over the past week, however, the coin depreciated significantly over the last 24 hours. It shed close to 12% over the past day. AVAX experienced tough resistance at the $21 mark, and it was unable to break over it causing price of the asset to slump further. Bitcoin and other major market movers has been struggling to trade above their immediate resistance mark too. BTC has been stuck at the $20,000 mark over the last few days. Broader market weakness has caused most altcoins to drop on their charts. Currently, most prominent altcoins including AVAX has been witnessing a wave of selling pressure. With mounting selling pressure, AVAX might move closer to the immediate support level of $14 over the next trading sessions. Since, the coin bounced from the $20 price level, AVAX has ever since continued to move south on its 24 hour chart. The global cryptocurrency market cap today is $892 Billion with a fall of 5.1% over the last 24 hours. Avalanche Price Analysis: One Day Chart AVAX was exchanging hands at $16 on the 24 hour chart. After being rejected at the $20 level, the coin continued to move on the bearish trend. The next support line for the coin was at $14.  If the coin is unable to sustain above the $14 mark, it could trade near the $13 mark. Overhead resistance was at $21, despite AVAX trying to break past it, the coin has failed multiple times causing the bears to gain strength. The volume of AVAX traded declined on the chart and the volume bar was in red which signified selling pressure and bearishness. Technical Analysis AVAX has barely registered buying strength over the past month. Over the last few days even though the coin registered some buying strength recovery, the current price drop invalidated the same. The Relative Strength Index was below the half-line for whole of this month, with occasional dip into the oversold region. At press time RSI again noted a downtick suggesting continuation of a downtrend. Conversely, Moving Average Convergence Divergence flashed green signal bars. The indicator depicts the current price direction and possibility of price reversals too. The green signal bars on the MACD are considered to be a buy signal and this presents a buying opportunity. If buyers act on it, AVAX might experience some relief. Related Reading | Tracking Whales, What This Bitcoin Divergence Could Hint About BTC’s Price Buying momentum faded from AVAX’s charts, in consonance so did the amount of capital inflows. Chaikin Money Flow depicts capital inflows and outflows, the indicator was below the halfline. This reading meant that capital inflows were lesser than outflows suggesting higher selling pressure. Bollinger Bands constricted sharply, indicating that explosive price movement could possibly be on the charts. Bollinger Bands reads the price volatility in the market. Overall, technical outlook remains heavily bearish for AVAX suggesting further southbound action for the coin. If buyers re-enter the market, the coin can manage to move upwards for the next trading sessions. Related Reading | TA: Ethereum Key Indicators Suggest A Sharp Drop Below $1K Featured image from www.avax.network, chart from TradingView.com

Analysis Bitcoin Crypto News Ethereum

MicroStrategy is buying the dip – Should you follow their lead?

microstrategy-is-buying-the-dip-–-should-you-follow-their-lead?

With smart money digging in, Bitcoin and Ethereum come across as worthy buys in the crypto dip. Key points: Smart money is buying crypto and could be a leading indicator that the market could rebound. Following the lead of institutional money, Bitcoin and Ethereum could be worthy buys today. MicroStrategy is buying the current Bitcoin… More

The post MicroStrategy is buying the dip – Should you follow their lead? appeared first on BTC Ethereum Crypto Currency Blog.

Altcoins Analysis Bitcoin Blockchain

How Big Eyes (BIG), Dogecoin (DOGE), and Uniswap (UNI) Strategically Brand their Blockchain Networks

How Big Eyes (BIG), Dogecoin (DOGE), and Uniswap (UNI) Strategically Brand their Blockchain Networks

With over 18,000 cryptocurrencies in existence, it is difficult for blockchain networks to distinguish themselves. The market is in a state of oversaturation due to having a high amount of coins. However, this is also positive as buyers have a variety of tokens to choose from. Crypto has seen better days, with the past two […]

Altcoins Ethereum

Here’s What’s Needed for Leading Ethereum Rival To Surge by 700% and Reclaim All-Time High: Coin Bureau Host

A popular crypto analyst is identifying what could help leading Ethereum rival Polkadot (DOT) recapture its all-time high. In a new video, Coin Bureau host Guy tells his 2.07 million subscribers the reasons for DOT’s poor price performance. “First is the fact that the rest of the crypto market has been getting wrecked, notably [Bitcoin] […]

The post Here’s What’s Needed for Leading Ethereum Rival To Surge by 700% and Reclaim All-Time High: Coin Bureau Host appeared first on The Daily Hodl.

Altcoins Bitcoin Ethereum

Cardano FOMO Could Return Quickly, According to Blockchain Analytics Firm Santiment – Here’s How

A leading crypto analytics firm says trader sentiment on Cardano (ADA) isn’t high right now, but that could quickly change. In a new analysis, Santiment notes Cardano is currently witnessing the highest amount of unique addresses interacting on its network in a year. “On top of this, sentiment on social platforms has fallen to a […]

The post Cardano FOMO Could Return Quickly, According to Blockchain Analytics Firm Santiment – Here’s How appeared first on The Daily Hodl.

Crypto News

Ethereum Rising Gas Fees are Still Concerning But Presents Opportunity For Decentralized Exchanges

Paying gas fees is a crucial component of exchanging crypto and mining digital assets yet remains a significant cost barrier for transactions. A prime example is the major cryptocurrency Ethereum, whose network incurs inherently high gas fees due to its high volume of transactions and token evaluation. The term gas is used to define the amount of Ether (ETH) needed to perform a specific transaction allowing users to interact with the network. These fees are used to compensate miners for the energy required to verify a transaction. The gas price is highly volatile and dependent on a multitude of factors. The primary factor that represents gas fee price fluctuation is transaction congestion. As stated by Coin Market Cap, “There is so much movement on the Ethereum chain that the blocks are full, and transaction fees shoot up with each rise in demand.” According to specialists, the transaction volume can raise the gas fee from $5 to 50$ in seconds. Also, another critical driven force is the token market price. Ethereum investments have risen significantly since its inception in 2015. Within an astonishing period, its value grew from around US$0.31 to around US$4,800 (ATH) in November 2021. With the imminent release of ETH 2.0, which will replace the Proof Of Work model with the Proof Of Stake mechanism, Ethereum may have a prosperous future, but investors are still skeptical about further investing in Ethereum after the recent crash. The rise in gas fees has made it one of the most expensive blockchains to trade on, and Ethereum-based projects are experiencing a decrease in transaction volume because of the expenses. This situation represents a considerable opportunity for decentralized exchanges, which are focusing their mission on breaking down these cost barriers and on optimizing transaction speed. Providing ecosystems that foster the growth and prosperity of new incumbent projects. Xodex, with its features, is decentralizing and eliminating cumbersome, slow, and restrictive means, CEX, banks, and exchanging old rules. The platform is committed to finding balance, innovation, and equity building. Its upcoming main net blockchain launch aims to offer high transaction throughput, reporting remarkable transactions per second (TPS) speed of up to 100k, 50x faster than Ethereum, and zero fees. Its Proof of Authority (POA) consensus will combine decentralization with streamlined, scalable, and environment-friendly transaction processing. According to its whitepaper, the Xodex wants to “solve the problems that exist in the current blockchain-based projects” through its anonymous ecosystem. One of its solutions is providing decentralized and P2P services with no middlemen, providing more security for users and direct access to funds. Within the world of cryptocurrency and DeFi, gas fees and scalability have become a significant cause of concern. Newcomers to the space like Xodex provide revolutionary new alternatives to these pressing issues.