STOCKS TELEGRAPH

Tag: Crypto

  • Horizen (ZEN) – Where can the price Go Now?

    Horizen (ZEN) – Where can the price Go Now?

    At the time of writing this article, ZEN, the utility token of Horizen, has a value of $117.23 (9.27% increase today) with a trading volume of $125,581,40 with an increase of about 45.13% over the past 24 hours. It has been of the top gainers today among the top 100 cryptocurrencies.

    ZEN is listed on coinmarketcap in 89th place. It has a market dominance of about 0.05%. ZEN had created its all-time high around the price of $169.23. It later dropped to the price of $42 from where it showed reversal. The highest it went today is around $122. It has a circulating supply of about 11.79M. It has a total supply of about 21M.

    Technical Analysis – Horizen (ZEN)

    ZEN before the impulsive shot was moving in a channel. It can be seen that while moving in the channel, the price grabbed the liquidity with a fast wick upwards but soon closed inside the channel.

    After the price touched the bottom of the channel, the price shot upwards and eventually broke the channel. This result in the creation of a higher high in the market.

    ZEN - 1D

    After that, the price had a strong rejection from the top from where it broke down. It did eventually recover after bouncing from the line which was holding it in the first place. Even though the price is rising, the structure has broken down. Now we can expect the price to mitigate the middle of the candle which caused this move down. Now we can expect a possible reaction from this zone. Once it happens and we get the lower time frame conformations, we can expect the price to drop down to the position of the order block (which has been marked on the chart). Once the price reaches there (if) we can look for a possibility of along from there.

    Invalidation would be ZEN holding above the red candle and moving upwards to continue the bullish structure.

    Price Prediction – Horizen

    The coin also seems to have a good future. Digital Coin Price expects a value of $173.39 by the end of the year and positive growth throughout the next five years. In 2025, it is expected to be around $277.79. Wallet Investor is more liberal with its predictions which expects ZEN to have a value of $185.25 by the end of the year and $493.28 within 5 years.

  • Shiba Inu (SHIB) – What is the Chart Showing

    Shiba Inu (SHIB) – What is the Chart Showing

    The meme coin that took over the market after the Dogecoin (DOGE) is Shiba Inu (SHIB).

    Shiba Inu (SHIB) has been very bullish on higher time frames. Looking at the monthly time frames, SHIB seems to be in a bullish trend for the long term. SHIB created its all-time high at the price of $0.008854 during the month of October 2021, but the price couldn’t be sustained and soon after for the next three weeks the price dropped down to a value of $0.00003560.

    At the time of writing SHIB is being traded at the price of $0.00005146 with an increase of almost 31.73% in the past 24 hours. The trading volume has also increased by almost 444.03% today. It has a market dominance of about 1.07% and ranks in the 11th spot. It has a total supply of 589B coins and a circulating supply of 549B.

    Technical Analysis – Shiba Inu (SHIB)

    Shiba Inu (SHIB) has been printing green candles throughout the day. After the bounce from BTC, the price of SHIB has been continuously rising. Now the price has tapped into the daily order block. This was the point from where the SHIB had rejection before and started to fall down. The structure got broken down but it eventually reversed.

    It can be seen that the price went down to grab the liquidity which provided it with the necessary fuel to rally upwards. Now the structure has once again reversed.

    SHIB - 1D

    A possible movement now is the rejection of the price from the daily order block. This would result in a drop in the price. If the bullish structure is to be maintained, then it must stay above the structural shift position. From there we can look for a possible long depending on the lower time frame confirmations. If we get it then the price would rally upwards.

    Invalidation of this scenario would be SHIB stabilizing above the daily order block which would be the confluence of the price to move higher.

    Price Prediction – Shiba Inu

    Shiba Inu has been one of the most bullish coins in the market. According to the wallet investor, the price of SHIB can be expected to reach a value of $0.000089 in one year. In five years the price is expected to reach a value of $0.000289. But people are eying a much higher value of Shiba Inu (SHIB)

  • Siacoin (SC) – Where can the Price go now?

    Siacoin (SC) – Where can the Price go now?

    According to coinmarketcap, the maximum supply of the coin is around 49.44B SC and the circulating supply is around 49.44B SC. SC holds the 96th rank according to market cap and has the market dominance of 0.04%.

    At the time of writing, SC is being traded at the price of $0.024 with a drop of almost 4.25% in the last 24 hours. SC is a really strong token fundamentally. The maximum and minimum today are $0.02605 and $0.02345 respectively. The daily trading volume has also decreased by almost 39.39%. It had created its ATH in April 2021 and reached a price of almost $0.064. During the crash, the price of SC dropped down to a level of $0.00762. The price since then is trying to recover and it can be seen to rising steadily.

    Technical Analysis – Siacoin (SC)

    Siacoin (SIA) has been following the trend line and many times, the price has bounced from there. When the price broke out of this trend line, it also broke the structure as well. This led to the creation of a daily order block.

    It can be seen that in the past, the price had grabbed liquidity before. The recent move with the wick also did this and the candle eventually closed in the red.

    SC -1D

    Now the possible movement of the coin is that it would mitigate the lower order block. When it does, we can expect a possible bounce from there which can be taken as a possible entry to a long position.

    Invalidation of this scenario would be the price stabilizing above the structure from where a possible reaction can be expected.  So lower time frame confirmations should be taken into consideration before taking an entry.

    Long Term Investment – Siacoin

    In the long run, people are quite hopeful about the SC. They think that it is going to attract an even more audience that is going to make it even more mainstream.

    But according to wallet investor, in a four-year plan, it is supposed to drop down to a price of $1.933 which is quite less than the price that SC has right now. As opposed to the general mindset of the investors and retailers this is quite an opposite perspective and this calls for SC to be not a good investment. But people are hopeful that SC will achieve new heights in the near future.

  • What to know about Tezos (XTZ) coin

    What to know about Tezos (XTZ) coin

    Lots of cryptocurrencies are aiming to revolutionize the finance market as we know it through blockchain technology. They aim to do this through decentralization of finance where they say in the market belongs to the users. A democratic sort of financial control over the users.

    Tezos (XTZ) is one of those projects that is striving for a decentralized future. It is a distributed consensus platform with meta-consensus capability. The proposed system of Tezos offers such a consensus about the protocol about how nodes are to adapt and upgrade. This capability of Tezos can be referred to as the self-amendment capability of Tezos implying that Tezos doesn’t have to “fork” the network into two different kinds of blockchains. A certain kind of flexibility is offered by self-amendment. Coupling the self-amendment with electoral voting and you get an on-chain governance mechanism to reach an agreement on proposed protocol amendments.

    Tezos also provides a platform where smart contracts can be made. It constructs decentralized applications that cannot be censored by any third parties. Moreover, Tezos uses formal verification, a technique that is used to improve the security of the coin by mathematically proving properties about programs such as smart contracts, which can if employed correctly, can result in the avoidance of costly bugs and the debates that follow the said bugs.

    The Tezos (XTZ) protocol works on the Proof-of-Stake mechanism. But unlike other Proof-of-Stake algorithms, the stakeholder can undertake the consensus process in Tezos and then be awarded by the protocol itself for contributing to the security and stability of the network. It is also less costly.

    Tezos (XTZ)has also been trying to build up its Non-Fungible Tokens (NFTs) marketplace. Tezos were in the marketplace through their platform HicEtNunc, also known as HEN. The platform shut down due to the fragile market of NFTs and more people shifting towards gaming NFTs due to the rebranding of Facebook as “Meta”. HEN was the fourth most active NFT platform before it shut down. Now, a community of brave souls, believing in the potential HEN, a team at DNS, and also Pinata are working together to revive HEN.

    Price Movement – Tezos (XTZ)

    At the time of writing, the current value XTZ, the native token of Tezos, is $5.43. Built on the Binance smart chain, the coin is ranked at 42. The trading volume of the coin has seen quite the jump in the last twenty-four hours; $831,809,241 which is an increase of 225.41%. Tezos has also been audited by Quantstamp which highlighted 15 issues out of which 10 have been resolved by the protocol but a medium-risk issue still prevails.

  • DApps for Bitcoin – Stacks (STX)

    DApps for Bitcoin – Stacks (STX)

    Cryptocurrency has taken the world by storm and it has done this through the first cryptocurrency, Bitcoin. Bitcoin is no doubt the “King” of the market with the price of the coin, at the time of writing, is $57,023.08. But bitcoin does have its problems. Along with egos to have their ingenuity recognized by the public, most other developers have ventured off from that of Bitcoin and have tried to make their own mark on the market. Ethereum is an example of this.

    But Stacks 2.0 (STX) believes that the future of cryptocurrency is Bitcoin. Decentralized applications and use cases will gradually be constructed on Bitcoin. This, they believe, by analogizing the same during the early Internet boom and, while there were different kinds of competing protocols, TCP/IP had emerged as the winning standard, and everything on the Internet was eventually built on it. The same can be said for Bitcoin.

    Stacks (STX), developed by Princeton and MIT scientists, employ a consensus algorithm separate from any other which is a consensus algorithm between two blockchains. This is the Proof of Transfer (PoX), that connects the Bitcoin and the Stacks blockchains and extends the functionality of Bitcoin. Leader election occurs on the base Bitcoin chain, and subsequently, novel blocks are written on the connected Stacks chain.

    The Stacks 2.0 (STX) is actually a layer-1 blockchain that is to bring smart contracts and decentralized apps to Bitcoin. It proposes two beneficial features to blockchain; the first is scalable transactions and the second is the general-purpose smart contracts using the Bitcoin blockchain without changing it. The miners of Stacks can employ Bitcoin to mine newly minted Stacks. On the other hand, Stacks holders can lock their STX in consensus to earn Bitcoin, making STX a unique crypto asset that is priced in BTC and gives BTC earnings.

    Current Price – Stacks (STX)

    At the time when this article is being written, the current value of STX, the native token of Stacks is, $2.75, which is a 27.25% increase over the past twenty-four hours. The current trading volume of the coin is $663,004,640 with an increase of trading volume of nearly 340%. The monthly high of the coin of $3.80 was reached just a week ago but aftermarket corrections, the market came down again. But the prospects of the coin do look bright. The Stacks ecosystem is slowly growing such ALEX (Automated Liquidity Exchange) announcing it raised $5.8 million for decentralized finance (DeFi) on Bitcoin. Some analysts predict that the coin is going to hit the $4 mark soon.

  • GALA coin drops 8% today – What’s Next

    GALA coin drops 8% today – What’s Next

    At the time when this article is being written, the current value of GALA is $0.645 with a trading volume of a whopping $1,225,222,786. (this is a decrease of about 43.30% over the past twenty-four hours). After the launch of Meta, the whole metaverse market had been pumping hard and it seems like that they are having an independent movement as compared to Bitcoin. GALA in the past had pumped hard but now there is a decrease of about 7.82%.

    There are currently 6.98 Billion GALAs in supply with a total supply of 35,240,112,493. The 43rd ranked coin is bound to soar in the future as well with the release of the rest of its game in development and the zero-knowledge layer layout of Ethereum. It has a market dominance of about 0.17%.

    Technical Analysis – GALA

    Meta news proved to be highly bullish for the price of Metaverse coins. MANA, SAND has been one of the coins that eventually broke away from the BTC and we could see them moving with strong momentum even when the market was red.

    Now after many days of making higher highs, GALA has now slowed down. It can be seen that the price broke the structure and led to a higher price. Soo after, the move got slowed down and we saw the price dropdown.

    GALA - 1D

    Now the price has failed to maintain the higher structure, it failed to create a higher high, and now is going down. If it wants to keep the structure intact, the price must get over the last higher high and consolidate to provide us confluence about the market.

    It should be noticed that fundamentals overtake the technical. Being a part of Metaverse, pumping of other coins would eventually lead GALA to increase in price as well. This would also invalidate the scenario.

    Price Prediction

    Metaverse is the next grail and it’s going to make a lot of people rich. As such, coins like PYR, MANA, SAND, GALA is going to go big in the market. According to the wallet investor, the price of GALA is expected to reach a value of $0.987 in a year and in five years, the price is expected to reach a value of $2.210.

  • How Well could Ethereum (ETH) Perform

    How Well could Ethereum (ETH) Perform

    The second frontrunner of the whole crypto market. The second highest dominance in the market is Ethereum (ETH).

    At the time of writing, ETH is being traded at the price of $4,419. The price of ETH has increased by almost 7.08% in the past 24 hours. The daily trading volume has also increased by almost 40.28% in one day. ETH is listed on coinmarketcap at 2nd spot according to market capital and has a market dominance of about 20.05%.

    ETH before the crash had achieved it ATH around the price of $4,372 in May 2021. It later fell down to the price of $1700.48 during the crash and showed reversal from there. As compared to other coins it has been one of the fast gainers and now has achieved a new all-time high around the price of $4,868.

    Technical Analysis – Ethereum

    Ethereum (ETH) had continued to stay ahead of the major market and has printed new all-time high in the process. The price of the coin had been moving in a channel which can be clearly seen in the chart. But the price broke down and now has moved into an accumulation phase. 

    ETH - D

    Now with confluence to the movement of BTC, we can expect a similar movement as the king. It seems that the price would create an AMD pattern. The accumulation phase is currently being completed and we can soon expect the price to move to manipulation where we can expect the price to go near the previous all-time high. After that, the distribution or expansion phase can start which can drive the price down to the daily order block from where we can expect a possible reaction from the market.

    Long Term Prediction – Ethereum (ETH)

    According to wallet investors, the price of ETH is highly bullish in nature and is a safe investment, and will continue to lead the market. According to their predictions, the coin will reach a value of $7,311 in one year. For a five-year plan, ETH is expected to reach a value of $19,232.

  • Where the King is Moving? – Bitcoin (BTC)

    Where the King is Moving? – Bitcoin (BTC)

    At the time of writing, BTC is being traded at the price of $57,980. The price of BTC has increased by almost 5.52% in the past 24 hours. The daily trading volume has also increased by almost 32.36% in one day. BTC is listed on coinmarketcap at 1st spot according to market capital (the one true king of the market) and has a market dominance of about 42.03%.

    BTC before the crash had achieved its all-time high around the price of $64,895 in April 2021. During the crash, the price of BTC touched a bottom of $28,600 during the month of June 2021. After this, the price showed reversal and went to achieve a new all-time high around the price of $69,000.

    BTC has a total supply of 21M coins and has a circulating supply of about 18.8M tokens. BTC can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.

    Technical Analysis – Bitcoin

    Before the drop of Bitcoin (BTC) from all-time high, people were expecting it to crack the 70k, but the number was a strong zone to crack and quickly resulted in the fall of the market. Now the market is trading in the $50s and we can expect it to drop even more to the $40s.

    BTC - 1D

    It can be seen that the market has been bouncing from $53k support. In the past, it had stayed there for a while before moving to the all-time high. We can expect the market to touch the $63k zone before it falls down to the 40s as a move of fake-out. But this is only one possibility and a lot more can change in a matter of minutes. So lower time frame confirmations are important. Possible zones to watch out for are $49k, $53k, $58k, $62k.

    Long Term Price Prediction – Bitcoin (BTC)

    Before the drop of BTC from $69k. People were expecting the price of BTC to touch the value of $100k before the end of the year. Now after the drop-down to $52k, a lot of those speculations have vanished. A lot of people are still eying for BTC to break the all-time high and touch the zone of $80k but it seems that it has become difficult right now with the way price has been reacting

  • Terra (LUNA) -Algo Based Stablecoins

    Terra (LUNA) -Algo Based Stablecoins

    An algorithm stablecoin is a cryptocurrency that tracks the price of any asset, usually currency. Algorithmic stablecoin maintain their price peg through a set of rules or software instead of an underlying asset. The terra protocol (LUNA) is the leading decentralized and open-source public blockchain protocol for algorithmic stable coins.

    The Terra Protocol uses a combination of open market arbitrage incentives and decentralized oracle voting. Through this, the protocol creates stablecoins the consistently track the prince of any fiat currency. The users of the coin can spend, save, trade, or exchange Terra stablecoin instantly, all on the Terra blockchain.

    The protocol itself consists of two main tokens:

    • Terra: The users mint new Terra by burning Luna. Stablecoins are named for their fiat counterparts. The Terra token can be attached to the International Monetary Fund’s SDR as TerraSDR or the United States Dollar, Terra USD, or UST. All of Terra’s denominations exist in the same pool.
    • Luna: The terra protocol’s native staking token is Luna. It absorbs the price volatility of Terra. It is used for governance and in mining. The users can stake Luna to record and verify transactions on the blockchain in exchange for rewards from transaction fees. The more Terra is used, the more Luna is worth.

    The whole Terra protocol relies on the coins mentioned above. It is based on two pools: one which is used for Terra and the other for Luna. In order to balance the price of Terra, the Luna supply pool adds to or subtracts from Terra’s supply. The Users can burn Luna to mint Terra or burn Terra to mint Luna, which is made possible by the protocol’s market module.

    The ecosystem of the protocol is slowly growing as well. Just recently, Terra announced a strategic partnership with Enjinstarter. This is Terra’s bid to enter into the metaverse fiasco as well as have an engagement with the Non-Fungible Tokens (NFTs) market.

    Price Movement – Terra (LUNA)

    At the time of writing, the current value of LUNA is $52.61. It has had a trading volume of $1,564,610,920. One thing to keep in mind of LUNA is that if the value of the coin suddenly rises, this indicates an increase in the regulated markets such as the New York Stock Exchange. It also shows instability in the market where a trader would feel it necessary to burn the LUNA to get Terra. The protocol has been audited Certik. There weren’t any major problems to the coin but a couple of minor problems did display themselves and seven informational aspects were given by the report as well.

  • What is Solana (SOL) Coin – The Ethereum (ETH) Killer?

    What is Solana (SOL) Coin – The Ethereum (ETH) Killer?

    Solana (SOL) is one of the biggest coins in the crypto market. It is ranked 5th on coinmarketcap. But it is a wonder what makes the coin so special? And will it be able to overcome the challenges presented to it and become a revolutionary that will be adopted in general everyday use?

    Solana (SOL) is an open-source project which utilizes blockchain technology to provide decentralized finance solutions as efficiently as possible. The blockchain architecture of Solana is based on the Proof of History (PoH) – a proof for verifying order and passage of time between events. The PoH algorithm is used to encode trustless passage of time into a ledger – an append-only data structure. If they are used with Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithm, they can decrease the messaging overhead in a Byzantine Fault Tolerant (BFT) replicated state machine that results in sub-second finality times.

    It was created by the Solana Foundation in 2017 and is based in Switzerland. The central objective of the coin is to create Decentralized Finance (DeFi) that is accessible to people around the globe and facing the common obstacles that are faced by the users of the technology. Solana also feels the need to have its innovation have a stake in the market. It believes that Blockchain is an implementation of a fault-tolerant replicated state machine. Most of the blockchains that are available don’t depend on the time factor or make a weak assumption that miner’s capabilities to keep time. Each of the nodes in the network most depends on their own local clock without knowledge of any other participants clocks in the network. The lack of a trusted source of time means that when a message timestamp is is used to accept or reject a message, there is no guarantee that every other participant in the network will make the exact same choice. The PoH presented here is designed to create a ledger with the verifiable passage of time, i.e. duration between events and message ordering.

    Price Movement – Solana (SOL)

    At the time of writing, the value of SOL, the utility token of Solana, is $210.02. This is a 12.52% increase over the past twenty-four hours although the low of the day has been $182.37. The current trading volume of the coin is $2,460,129,010, a 64.73% increase over the past twenty-four hours. Most analysts are predicting that the value of SOL should be around $190 and the market correction is bound to come much sooner rather than later. It is quick trading!