STOCKS TELEGRAPH

Tag: Crypto

  • Near Protocol (NEAR) – Will the Coin Price Touch ATH?

    Near Protocol (NEAR) – Will the Coin Price Touch ATH?

    Starting from the weekly timeframe, the candle of Near Protocol (NEAR) coin that got printed on the 17th of January to the 23rd of January had huge momentum and the volume of sellers in that was much strong. This candle engulfed the previous candle and by candle psychology, it shows the domination of bears right now.

    This candle of Near has made a decrease by around 42% which is huge. On weekly, before this bearish engulfing the level of $17.611 got induced as we see almost equal highs which were to trap early sellers, and those were taken out. This shows that the price has got the fuel which was necessary.

    NEAR - 1D

    Moving down to the Daily time frame, the price has shown some confluences which align with the weekly bias. Talking about the structure first, the price was breaking structure to the topside but the candle of 22nd of January broke the structure to the downside which showed the change of structure. Now the order flow is to the downside. Now recently the price of Near tapped in one of the daily Order Block which was around $9.472 but as the momentum is strong to the downside, the reaction was the price is giving at the moment can be merely considered as an inducement to take out early buyers.

    The Strong Bearish Momentum – Near Protocol (NEAR)?

    Along with this bearish momentum, the price left imbalance at some points, but talking about the main Point of Interest, the range between $13.579 to $15.134 is worth observing. Now we have two scenarios that can play out depending on where the price first taps. Although one can get short and long both opportunities as on higher time frame, the bias is still short so it’s preferable to short. So in case the price of Near taps in that daily imbalance zone, shorts can be taken. In case this zone doesn’t hold, there is one more zone from where shorts can be taken which is a Quasimodo Level which is at $17.487. Now, these are opportunities for taking shorts.

    Is Taking Longs a Good Idea?

    Now talking about longs, the Order Block which is at $7.694 Near, is a good zone. As the momentum has already been weakening because of the current consolidation, so AMD pattern can be expected to unfold. The manipulation phase and the momentum can let the price taps in that Order Block and once structure shifts are observed, longs then can be taken all the way till Quasimodo Level with TP 1 as that Imbalance Zone.

  • Grimace Coins (GRIMACE) Surge Multiple Folds, Whats Going On?

    Grimace Coins (GRIMACE) Surge Multiple Folds, Whats Going On?

    Yesterday we saw another antic of Elon Musk, the billionaire who has been known for his takes on the crypto market. He has been an avid supporter of Dogecoin which he has shown now and then through his tweets regarding the coin and even allowing Tesla to accept Dogecoin as a form of payment for buying merchandise with McDonald’s replying about Grimace Coin.

    Yesterday Elon Tweeting about eating a happy meal live if McDonald accepts Dogecoin as a payment method. Of course, we saw a sudden increase in the price of Dogecoin, and a fast wick upwards was seen in the price. The price jumped from $0.14 to $0.15 within moments. Eventually, the movement dialed down. Now we would have expected the joke to end here until McDonald’s themselves tweeted back “only if @tesla accepts grimacecoin”.

    What was funny is that no grimace coin existed. Opportunistic saw this as a moment and quickly resorted to computers and quickly created new coins on the BSC network. With the availability of  DEX, anyone can create a token and launch it on the platform at that very moment. Liquidity was provided and we saw many new grimace coins in the existence.

    One such coin was created on the BSC network that launched at the price of $0.0007 and the price went up to $2 during Asian Hours. Afterward, it dropped down to the price o $0.60. The token had reached the market capital of $2 Million. This was a jump of about 285,000 times.

    Another Grimace token on Ethereum was also created that had jumped 56,000% since its launch. Not all of them were successful as well. There is one that only had a market capitalization of about $1400. The Crypto market is filled with serious developers and people who work hard for the success of the market. At the same time, we have seen developers create shitcoins purely based on community and hype regarding a certain word. This isn’t the first time, that something like this has happened, back in December, US Representative joked about a mongoose coin in a hearing and ultimately we saw many new mongoose coins that sprung up. Most successful of this jumped to a market cap of tens of millions. Even though the price has dropped more than 90%. These dog coins, meme coins have billions of dollars poured in, purely based on speculations.

  • The SandBox (SAND) – Will it Retain the Bull Run?

    The SandBox (SAND) – Will it Retain the Bull Run?

    The virtual landscape appears to be spreading right before our eyes. It may appear that the reforms desired by these corporations and investors are a long way off, but we never know what type of incident may act as a catalyst to transform everything. Regardless, the foundation must be constructed in order to do so. Non-Fungible Tokens (NFTs) with billions of dollars in worth are one item to keep an eye out for. They come in a variety of shapes and sizes. The NFTs seen in video games is one of the most common types. These video games have implemented a method for obtaining and trading NFTs or coins with one another. One of these games is Sandbox (SAND).

    What is SandBox

    “Play.Create.Own.Govern.Earn.” This is the statement of the network that aims towards building such a game that can be used to do all of these things. The native token of the SANDBOX is the SAND token that is used for the monetizing of the platform and to carry out the transactions happening in the world of SAND Box. The project acts as a DAO.  The decisions of the platform are made through the governance system of SAND holders which cast the vote based on who holds the most amount of SAND.

    The game is quite similar to an action-adventure first-person game known as Minecraft owned by Microsoft. The players can create, destroy, and built several elements of the game that are very similar to Mojang’s product.

    Each creation in the game acts as a separate NFT. This makes sure that the creation and work of artists and developers retain a certain value. Bringing the technology of blockchain into the world of gaming where developers can create their own work.

    Current Price Movement – The SandBox (SAND)

    At the time of writing SAND is being traded at the price of $3.24. The SAND coin price has increased by almost 6.74% in the past 24 hours. The trading volume on the other hand has decreased by almost 9.14%. SAND is listed on coinmarketcap at 41st spot and has a market dominance of about 0.18%. Even though the market has been down for the past weeks, SAND has been holding pretty well.

    The total number of coins is around 3B. The current amount of coins in circulation is around  925M. Around 31% of coins are in circulation.

  • Everything you need to know about ANKR

    Everything you need to know about ANKR

    Ankr Blockchain is a revolutionary multi-chain and useful-work-based blockchain with a natively validated data stream. Ankr Blockchain provides a creative solution to the blockchain’s numerous issues..
    Proof of Useful Work (PoUW) enables a self-sustaining blockchain system based on the potential to free up idle processing power all across the world, planet, resulting in the formation of a decentralized super-CPU. Natively verified data feed with specified formats. API allows for easy real-world company usage. The installation of multi-chain Plasma allows various programs to manage application-specific smart contracts on individual child chains, preventing transactions from swamping the PoUW-based main chain

    Ankr Network is a blockchain tree topology that connects numerous application chains (Child Chains) to a single root chain (Main Chain). The Ankr main chain serves as the system’s backbone. The main chain is PoUW-based, and it includes features like child chain indexing, beneficial work mining, and smart contract executions.

    PLASMA

    Plasma is a mechanism that enables the formation of an endless number of blockchains, all of which may be monitored by Ankr’s main chain.
    Unloading some operations first from the main chain to Plasma chains can enhance main chain efficiency significantly, especially if Plasma operators are suitably compensated. Another advantage of implementing a Plasma chain is its versatility, so long because it can be suitably passed by contractual on a parent chain. With new cryptographic techniques, Plasma implementation might be enhanced to support transactions with zkSNARK ring signatures for finished confidentiality.

    Ankr tokens function as both a mechanism of storing and transferring value. Ankr token may be used to reward interaction with the Ankr network at all times and can be moved among child chains. Because it is more difficult to complete transactions in a multi-chain system, the main chain, which has global information, will be the ideal place to keep track of the allocation of tokens created.

    Current Price Movement – Ankr

    Just at the time of writing, the price of Ankr is $0.09214. Its value has significantly increased over the previous five days since it released Ankr 2, a decentralized web service (DWS) platform for Web3 designed to allow builders to quickly construct multi-chain systems, commodities, and services. It launched in 2019 and it has made great development ever since, which is even more impressive given the fact that this does not really have a whitepaper to tell the people. A maximum of 10 billion Ankr will be in currency, with today’s market capitalization of $748,194,892. This is a massive quantity of data.

  • Bitcoin (BTC) Price Action

    Bitcoin (BTC) Price Action

    The entire market is on the verge of collapsing due to BTC. The coin is now seeing fluctuating price activity, leaving many investors unsure of how it will rally. Even those who aren’t interested in investing in BTC are keeping a close eye on it and trying to figure out how it behaves because Btc is a key driver of the crypto market’s overall tendencies. When Bitcoin falls, alts fall with it, and when Bitcoin consolidates or rises, alts climb with it (as long as the dominance doesn’t wreak havoc on the entire game).

    Because of the unpredictable market movement over the last several days, a large number of investors have been liquidated. Shorts are being opened at the resistance, but Btc is showing volume and momentum, thus the shorts are being liquidated, and the price is falling. Longs are opened on supports, but all of the longs are liquidated when the wick falls to the bottom.

    Current Market Situation

    According to coinmarketcap at the moment BTC is being traded at a price of 42,822 after an increase of 2.49% in the past 24 hours and an overall decrease of 8.06% in the last 7 days. The market is turbulent and fouled up, as I have stated. In the last two days, the coin’s price has plunged from $50,000 to $39.6. BTC has regained momentum and is attempting to burst through the obstacle. At the time of writing, BTC has a 40.42 percent market share. The trade volume has also dropped by over 24%.

    Bitcoin Dominance Btc.d

    The BTC dominance chart aids us in comprehending the crypto market cap and Btc’s contribution to it. Studying the dominance offers you a greater understanding of how the market will react in the future, allowing you to better prepare yourself. When dominance grows, it signifies that money from various coins has begun to flow towards BTC. This indicates that investors are now more interested in Bitcoin than in other currencies.

    As a result, let’s begin to bleed, and their value plummets. When dominance starts to dwindle, it signifies that investors are pulling their money out of Bitcoin, and it’s possible that it’ll end up in altcoins. As a result, altcoins have risen in value. BTC dominance is at 40.13 percent at the time of writing (as calculated by Trading View), with the highest being 40.49 percent and the lowest being 40.08 percent over a 24-hour period.

  • KAVA Coin – Showing Signs of Reversal?

    KAVA Coin – Showing Signs of Reversal?

    According to the market cap, the entire quantity of KAVA is approximately 154 million, with more than half of it, or 146 million, now in circulation. The coin is placed in 114th position according to its market capital on websites. It has a dominance of about 0.03 percent in the crypto market.

    KAVA is presently selling at $4.61 per coin.  In a single day, we have seen an increase of about 6% in the movement. The high and low for today are $4.69 and $4.04, respectively. Around 116% increase has been sen in the daily trading volume as well. KAVA reached an all-time high of about $9.21 in August 2021. During the crash in the market, the price dropped to almost t $2.10. The price did show a reversal but it was very weak in strength and we saw big red candles retracing back. In general, the price is making lower highs and lower lows. The price of KAVA increased by over 17.01 percent in January.

    Technical Analysis – KAVA

    The coin had been showing a downtrend for quite some time. The price had been creating lower highs and lower lows. It ultimately dropped down to the lowest possible point and left an order block in the creation. Now, this order block remained unmitigated for a number of weeks. After the price showed a shift in the structure, it was quick to come back up.

    kavausdt

    Now on the daily time frame, the order block has been mitigated and there is no reason for the price to go down again. As a result, the price action of KAVA is very bullish and soon we can expect it to get out of the order block from where we can look for a possible long depending on the lower time frame confirmations that we find.

    Price Prediction

    KAVA is a wonderful investment that will bring excellent profits. KAVA is also seen as a solid investment by Wallet Investor. However, they predict that in a year’s time, the price will rise to $6.954. The price is predicted to reach $17.067 in five years. In the time frame of just one year, it can be seen that the price doesn’t increase that much. But In five years we can see visible gains in the price. For the long term, this project is a really good one. But traders on the other hand ae quite optimistic about the movement and they think that it wouldn’t be long before KAVA is being traded above its all-time high.

  • Chrono Tech (TIME) Creates new ATH

    Chrono Tech (TIME) Creates new ATH

    The price of TIME is about $484.61 at the time of writing, up 55 percent in a single day and while the rest of the market is floundering. It is currently one of the top gainers. Today, the volume has climbed by over 223 percent. The overall new volume is estimated to be roughly $16 million.

    During this time, the low point was around $311.79 and the high point was around $550.73. According to the most recent data released by the coin market cap, the currency has risen to number 150th, indicating that it is on many traders’ watchlists.

    TIME reached a near-all-time high in January, hovering around $575. The TIME coin has a very small supply of roughly 710k coins. Around all percent have been distributed in the market, according to coinmarketcap. As a result of this small supply, the coin has become gained a huge price with just a small market cap as compared to other coins.

    Technical Analysis –  Chrono.Tech (TIME)

    Talking about the technical Point of view of Time Token, there isn’t much to say from daily or even 4H time frame, as the price is just continuously going upside without doing any correction. This kind of move mostly results in a parabolic move to unfold, But moving down to the 30 m Time frame, It shows that quite a momentum was shown from the bear’s side which pushed the price down and which broke the structure to the downside.

    timeusdt

    Now going with the institutional order flow, it’s preferable to go with the sellers but not from here. there is a breaker block within the premium array from where a good reaction can be anticipated from where the lows can be targeted as that is a recent low and liquidity is present in there.

    Price Prediction – Chrono.Tech (TIME)

    TIME has been one of the market’s most optimistic coins. Despite the fact that the price of the coin has risen dramatically in just a few days. TIME is expected to reach a value of $470 in a year, according to wallet investor. When compared to the current price of the coin, this is an increase. In five years, the price is expected to reach more than $1183. However, traders are enthusiastic about the price movement and believe it will be worth much more in the future.

  • What is OriginTrail (TRAC) – How does it Work?

    What is OriginTrail (TRAC) – How does it Work?

    OriginTrail (TRAC) is a one-of-a-kind technology that enables supply chain IT providers to build up blockchain-based data sharing in a multi-organizational setting. It enables them to go beyond the “one step down, one step up” traceability approach to increase transparency. It also enhances the accuracy of product data and increases efficiencies for all parties involved. The OriginTrail solution’s first version has been tested and is currently in use in the food business. Any product supply chain, such as automobiles, consumer products, pharmaceuticals, and so on, will benefit from the impending open source version.

    All stakeholders can securely exchange their data with OriginTrail (TRAC) while keeping sensitive data fully secured at all times. OriginTrail ensures compatibility with existing ERP systems by supporting global data interchange standards (GS1, IoT, compliance norms). This speeds up the deployment process.

    To deliver the best solution, they use the OriginTrail protocol (TRAC), which runs on an off-chain decentralised peer-to-peer network called the OriginTrail Decentralized Network (ODN). It enables network peers to contract services, send, analyze, and extract information, as well as verify data integrity and availability and reimburse provider nodes. This method decreases the quantity of data kept on the blockchain, leading in cost and time savings.

    Two system levels sit on top of the blockchain layer: the network and data layers, which together make up the ODN system. The ODN (TRAC) is able to provide a cost-effective solution for data integration and manipulation for supply chain stakeholders due to its computational and storage efficiency.

    Price Movement – OriginTrail (TRAC)

    The currency reached an all-time high in November, when it traded for around $3.5, before dropping to almost $0.90, losing 75% of its value. At the time of writing this article, TRAC was trading at $1.03, up 5% over the previous 24 hours. There was a good pump at the start of Q4 2021. The price has climbed considerably since the reversal, providing tremendous gains. In the last 24 hours, the volume has surged by 123 percent. On the monthly time period, we’ve witnessed a 10% drop this month, and we can see that the coin is making lower lows and higher highs on the monthly time frame. TRAC is a cryptocurrency that is featured on coinmarketcap.com.

  • Injective (INJ) – How does it Work?

    Injective (INJ) – How does it Work?

    The Injective Protocol (INJ) is a layer-2 decentralized derivatives exchange protocol that is totally decentralized. Injective offers permissionless trading on any derivative market, letting users build and trade on any derivative market they want. The Cosmos-SDK, which hosts Injective’s decentralized exchange system, is used to implement the underlying protocol on top of Tendermint.

    Highlights & Key Features:

    • Community Owned
    • Scalable
    • Fully Decentralized
    • Permissionless
    • Censorship
    • Resistant

    The infrastructure of Injective Protocol (INJ) is made up of three main parts:

    • Chain of Injection
    • Exchange Service for Injectables
    • Ethereum Injectable Bridge

    The Injective Chain tracks the resource utilization of actions throughout execution using the idea of gas. The Cosmos SDK (on which the Injective Protocol is based) represents operations as read or written to the chain’s store.

    Injective Exchange

    Injective (INJ), unlike traditional exchanges that act as gatekeepers to the crypto industry, turns an exchange into a decentralized public utility. What sets Injective apart is that we open up every aspect of a decentralized exchange to the general public. Everything is open and free, from the front-end exchange interface to the back-end infrastructure to order book liquidity. This disrupts the traditional exchange business model by removing the technical barrier to entry for individuals to run a highly performing exchange for free.

    Under the Injective model (INJ), by sourcing liquidity, relayers are rewarded. As a result of this, exchange providers are motivated to better service users as they compete with one another to deliver better user experiences. Users from all over the world can now access a decentralized market.

    To increase the security of the side chain and to make sure nodes are interested in staking, they have increased their numbers of tokens.

    INJ -Tokenomics

    INJ’s initial quantity is expected to be set at 100,000,000 tokens, with block incentives increasing the supply over time.

    The goal INJ inflation rate will start off at 7% and gradually decline to 2% over time. Because of the deflationary mechanism described in the Exchange Fee Value Accrual section, the overall quantity of INJ may be lower over time than the starting supply.

    Price Movement – Injective (INJ)

    At the time of writing, INJ is being traded at the price of almost $7.07. The price has increased by almost 2.80% in the past 24 hours. On coinmarketcap, the project is listed on the 168th spot

  • Utrust (UTK) – Where to headed now?

    Utrust (UTK) – Where to headed now?

    Utrust (UTK) was created to address the issues that have limited the use of cryptocurrency as a payment method, primarily the underdeveloped transactional security of payment systems and the relatively expensive fees.

    The platform’s major purpose is to create a system that allows merchants to access a broad audience of crypto holders by enabling fast and smooth crypto transactions at lower fees.

    Price Movement – UTRUST (UTK)

    UTK is now trading at $0.4313, up over 17.37% in the previous 24 hours, during the writing of this article.

    Within this time frame, the lowest value was near $0.3431 and the highest was around $0.4545. According to the coin market cap that provided the recent data, the coin is at 197th place and is on many traders’ watchlists. It is currently one of the top gainers among the top 200 coins.

    UTK approached its new All-Time High around the price of $1.06 during the month of May 2021. It was a quick upward surge, but the price has slowly retraced back to a lower level. Today’s trading volume, on the other hand, has risen by over 361 percent.

    The top exchanges for trading UTK are currently Binance, Huobi, Kucoin.

    Technical Analysis – UTRUST (UTK)

    Taking about the UTKtechnical, starting from the daily time frame, the price is more likely in a consolidation phase and is doing extreme huge rejections to either side, after an interval of time. Right now the majority of the wicks are to the upside, which on a lower time are respecting a descending trend line. Now as being liquidity above the trendline, it’s quite possible for price to stop hunting that and then continue down as it’s doing.

    utkusdt

    Moving down to the 4H Time Frame, the price recently reacted to an Order block and had rallied up. Now, this has made a double top inducing seller, so it’s likely for the price to stop hunting the stop losses present above them. An ideal entry would be a little below as marked, as the price is somewhat in a premium array and it’s not preferable to buy from the position where it is right now.

    Price Prediction – UTRUST  (UTK)

    Walletinvestor thinks that UTK is a good investment. According to them, the one-year projection puts the coin at two times the current price. In one year, the price is expected to reach a value of $0.6074. But the five-year projection puts UTK at a value of $1.607.