Tag: Altcoin Watch

Here are 5 altcoins to study as crypto prices drop to near 1-year lows
Altcoins

Here are 5 altcoins to study as crypto prices drop to near 1-year lows

The pain trade has been an unwelcome sight across the cryptocurrency market since the start of 2022 and over the past 24 days Bitcoin (BTC) and the altcoin prices have drifted, leading some analysts to suggest that a bear market is at hand.Despite traders' concern that another extended crypto winter could be starting, it times like these when investors can capitalize on great opportunities to pick up fundamentally sound cryptocurrencies at a discount.Crypto Fear & Greed Index. Source: Alternative.meIn that vein, here’s a closer look at several projects with strong fundamentals and a proven use case that could be good candidates for accumulation during the current market correction. Polygon (MATIC)The Ethereum (ETH) layer-two scaling solution Polygon (MATIC) is currently down 50.76% fro...
MetisDAO TVL surges by 99,800% as the layer-2 race heats up
Altcoins

MetisDAO TVL surges by 99,800% as the layer-2 race heats up

Attracting liquidity has become a de facto arms race in the growing decentralized finance (DeFi) landscape. Projects constantly battle to attract investors’ funds by offering enticing yields for crypto holders willing to take a risk and lock up their assets, and protocols use these funds to build out their products and attract attention from larger investors. One protocol that has been gaining traction in the total value locked (TVL) race is MetisDAO, a layer-two rollup platform designed to fully support the application and business migration from Web2 to Web3.Top 10 TVL gainers over the past month. Source: CCK VenturesAlongside the growth in the TVL on its protocol, the METIS token has also received a boost of momentum, with data from Cointelegraph Markets Pro and CoinGecko showing t...
Moonbeam (GLMR) launch brings EVM interoperability closer to the Polkadot network
Altcoins

Moonbeam (GLMR) launch brings EVM interoperability closer to the Polkadot network

Cross-chain compatibility with the Ethereum (ETH) network has become a necessary component for any layer-one protocol looking to remain relevant because a majority of projects and funds locked in smart contracts are found on the top-ranked smart contract platform. After years of development and promises of interoperability, the Polkadot network moved toward its first Ethereum virtual machine (EVM) compatible smart contract protocol with the launch of Moonbeam (GLMR). The platform is designed to make it easy to use Ethereum developer tools to build or re-deploy Solidity projects in a Substrate-based environment.Data from Cointelegraph Markets Pro and TradingView shows that after a volatile start, which saw its price swing from a low of $8.40 on Jan. 11 to a high of $15.97 on Jan. 14, G...
These were the 5 hottest coins on Twitter last week — And their price dynamics
Altcoins

These were the 5 hottest coins on Twitter last week — And their price dynamics

Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be no relationship between price and Twitter chatter at all.To harness the power of Twitter and use it as a tool for profit generation, crypto traders need two things: The first is the ability to quickly spot spikes in social attention around specific assets, while the second is sound judgment to tell if the anomaly is indeed a harbinger of an impending rally. While there are reliable algorithmic tools that cover the first ingredient — such as Cointelegraph Markets Pro’s Unusual Twitte...
MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022
Altcoins

MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022

Cryptocurrency mining has become a hot topic of conversation over the past couple of years due to its lucrative nature and the impact the industry has on the environment. The emergence of Web3 and the increased presence of Internet of Things (IoT) devices has led to a new class of low-cost mining protocols with low-power network technology. These include LPWAN or LoRaWAN which are designed to transmit low bit rate data over long distances. One such protocol that has been gaining traction in recent months is MXC, a Web3 infrastructure protocol designed to provide geolocation-based LPWAN coverage to IoT devices around the world Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.046 on Jan. 1, the price of MXC has seen a 200% rally to a new all-time ...
ELA, API3 and PROM buck the market-wide downtrend by posting a 20%+ gain
Altcoins

ELA, API3 and PROM buck the market-wide downtrend by posting a 20%+ gain

Fear and volatility remain the theme of the week as Bitcoin (BTC) continues to face stiff resistance near the $42,000 price level and stock markets were also hard hit on Jan. 18. Investor fear over this year's proposed rate hikes continue to apply bearish pressure and at the closing bell the DOW was down 530 points, or 1.4%.Despite the downturn, altcoins managed to overcome the noise and several posted double-digit gains on Tuesday.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Elsastos (ELA), API3 (API3) and Prometheus (PROM).Elastos launches a token buyback programElastos protocol, a web3-focused project aiming to become the "blockchain-power...
Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally
Altcoins

Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook?Governing a stablecoin ecosystemFXS is the utility token underpinning the Frax ecosystem — a stablecoin protocol that seeks to occupy a middle ground between entirely collateralized and entirely algorithmic stablecoins, thus harnessing the advantages of both designs.In accordance with the protocol’s highly “governance-minimized” approac...
The expanding Cosmos: Here’s why Osmosis (OSMO) hit a new all-time high
Altcoins

The expanding Cosmos: Here’s why Osmosis (OSMO) hit a new all-time high

Crypto assets within the Cosmos ecosystem have been on a run since the start of 2022, thanks to an intensified focus on brokering cross-chain compatibility with other blockchains. One decentralized finance (DeFi) protocol that has benefited from the current expansion plans is Osmosis (OSMO).  Osmosis is the first decentralized exchange (DEX) servicing projects connected through the Interblockchain Communication Protocol (IBC) and data from Cointelegraph Markets Pro show OSMO price surged 123% from a low of $4.05 on Dec. 17 to a new all-time high at $9.24 on Jan. 7.OSMO/USD 1-day chart. Source: CoinGeckoThree reasons for the price growth seen in OSMO include a surge in trading volume on the DEX, a record high in the total value locked on the protocol and the release of cross-...
Here are the most predictable tokens of 2021 — For those who knew where to look
Altcoins, Analysis

Here are the most predictable tokens of 2021 — For those who knew where to look

Digital assets’ past performance is never a guarantee of future price movement. There are never two identical situations in the crypto market, so even historically similar patterns of a token’s behavior can be followed by starkly different price action charts.Still, crypto assets’ individual history of price action often rhymes, giving those who can ready this history a massive edge over other traders. And, importantly, some tokens are much more likely than others to exhibit recurring behavior, which makes their bullish setups more recognizable ahead of time.Cointelegraph Markets Pro, a subscription-based data intelligence platform whose job is to search for regularities in crypto assets’ past trading behavior and alert traders to historically bullish conditions around individual assets, h...
REN price at risk of 50% drop after a bearish trading pattern shows up
Altcoins, Analysis, Bitcoin

REN price at risk of 50% drop after a bearish trading pattern shows up

The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge.Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline.An illustration of the head and shoulders pattern. Source: Corporate Finance InstituteThe pattern comes into play primarily when the price breaks below the neckline in a correction that follows the formation of the right shoulder. That prompts traders to open short entries below the neckline, with their ideal target at a length equal to the distance between the head's high point and the neckline.What's behind...