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Tag: Crypto

  • The Future of NFTs -What is Immutable X (IMX)

    The Future of NFTs -What is Immutable X (IMX)

    The Non-fungible token (NFTs) market has taken a significant hit over the past month. This has created a doubtful atmosphere and most people are either hoarding their NFTs or trying to get them off their hands with as much money as possible. But there are still that are holding strong in their position and believe that the NFT market is going to bounce back. These investors are looking at companies like Immutable X (IMX) to guide them towards the new era.

    Built by an Australian team, Immutable X (IMX) claims to be the future of Ethereum NFTs. The Project is planning to integrate within the major NFT marketplaces.  It has already entered into a partnership with the likes of OpenSea and Mintable, back by Mark Cuban that was able to raise $13 million.  It claims to be the crypto game changer. This is due to Immutable being able to provide gas-fee minting and trading, as well as giving the ability to the holders of IMX, the utility token of Immutable X, staking options, and protocol governance voting rights.

    Even though the recent atmosphere of the market is looking troubled, the overall year has been good for IMX. TikTok has also announced that they will mint NFTs on Immutable X (IMX). The market is ever so growing, and it may even grow more with time. There seems to be an incoming split of the coin. The supply split will cause every token to be worth 100 tokens. The total supply shall be gradually increased so that all allocations and users are able to attain a similar percentage share of IMX. With the incoming zk- rollup scaling engine, the market for NFTs is bound to prosper again.  It also has decentralized governance where the token holders are able to vote on token-related proposals.

    Price Movement – Immutable X (IMX)

    At the time when this article is being written, the value of IMX is $5.33, with a daily high of $6.27. It has a trading volume of $102,653,391 with an increase of 27.46% over the past twenty-four hours. This value is a lot considering that IMX just launched two weeks ago (13:00 UTC, Friday, 5th November 2021 to be exact). The coin therefore has good estimates with Digital Coin Price estimating the value of the coin as $8.08 USD, $9.66, $11.22, $12.86, $16.26, $19.15, $22.14, $24.15 within the years 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028 respectively.

  • Harmony (ONE) Coin – What to Expect from the Price

    Harmony (ONE) Coin – What to Expect from the Price

    At the time of writing ONE is being traded at the price of $0.2696. The price of ONE has increased by almost 6.96% in the past 24 hours. The daily trading volume has also increased by almost 37.83% in one day. ONE is listed on coinmarketcap at 60th spot according to market capital and has a market dominance of about 0.11%.

    ONE has a total supply of around 13B tokens and has a circulating supply of around 10.80M coins. ONE can be traded at a lot of different exchanges such as Binance, KuCoin, Huobi with different trading pairs.

    Technical Analysis – Harmony

    One for the past 4 months has been extremely bullish with a gain of 102% only in the last month. As the price was way overbought so a push down was expected.  The price is actually doing that and it seems like it would do more.

    Moving to the weekly time frame,  Harmony (ONE) unfolded a pole flag pattern which ended just now as both the impulsive legs were almost the same and now the price is correcting itself.

    Jumping to the daily time frame, as being price still in a bullish structure so buys are preferred. Recently price broke structure to the upside, but its origin remained unmitigated, the above one seems to get induced as the demand is not much stronger while the below one at $0.18173. the demand is very powerful which can serve as a reaction zone for the price. Now as the price is pushing down, its creating liquidity to the topside, which can drive the price upwards and can serve as a confluence to the topside.

    A possible long can be taken from there. Invalidation of this scenario would be the price closing above the structural shift which would result in the price breaking above the trend line. In this scenario, a long can be taken on a possible retest of the trend line which is currently being respected by Harmony (ONE).

    Price Prediction

    Harmony (ONE) is one of the highest used blockchains as it helps the creation of dApps really easily. As a result, it is considered a good investment. According to wallet investor ONE is expected to reach a value of $0.185 in one year. In five years ONE is expected to reach almost $0.448. But investors think that the price will go much higher than the one which is expected.

  • Audius (AUDIO) Coin – On its way to above $3?

    Audius (AUDIO) Coin – On its way to above $3?

    According to coinmarketcap, the total supply of AUDIO is around 1B AUDIO and the circulating supply is around 504M AUDIO. It holds the 90th rank according to market cap and has a market dominance of about 0.05%.

    At the time of writing AUDIO is being traded at the price of $2.53 with an increase of almost 11.90% in the last 24 hours. AUDIO is a really strong token fundamentally. The maximum and minimum today are $3.69 and $2.12 respectively. The daily trading volume has also increased by almost 1402%. AUDIO had created its ATH in March 2021 and reached a price of almost $4.990. The price later dropped down to a price of $0.590. The past two months have been bullish. In November, the price reached a value of $4.148.

    Technical Analysis-  AUDIUS (AUDIO)

    We can see that AUDIO was respecting the trend line and that it acted as strong resistance to the movement of AUDIO. But recently that wick to the upwards had taken all the liquidity and now the price has the necessary fuel to rally to a certain direction.

    We can see that on the lower side we can see that there is liquidity present which can drive the price down. Moreover, the rejection from the trend line and the presence of the daily order block can also drive the price down.

    AUDIO - DTF

    Now if that zone holds we can expect a similar movement as shown in the chart which would take it back to the trend line. If the momentum is strong we can expect the price to break above this trend line but it is quite a strong resistance as the price has dropped down often from this. If this zone doesn’t hold we can see even more damage to the market but it is highly unlikely to happen.

    Price Prediction –  AUDIUS

    AUDIO is a really strong token. Their platform has a huge amount of users and every day is growing more and more. As a result, we can expect growth in the price in the future. According to wallet investor, AUDIO is expected to reach a value of around $4.545 in a year and is expected to reach a value of $12.893 in five years.

  • Crypto.com (CRO) Coin – What is the Chart Showing?

    Crypto.com (CRO) Coin – What is the Chart Showing?

    The native token of Crypto.com (CRO) has continue to show amazing results.

    At the time of writing CRO is being traded at the price of $0.5745. The price of CRO has increased by almost 22.24% in the past 24 hours. The maximum and minimum of the day are around $0.5938 and $0.4642. The daily trading volume has also increased by almost 215.79% in one day. CRO is listed on coinmarketcap at 15th spot according to market capital and has a market dominance of about 0.55%.

    CRO before the crash had achieved its all-time high around the price of $13.230 in October 2021. Before the crash, it had a price of $0.17181 before it dropped down to $0.080. As compared to other coins it has been one of the fast gainers and it was not long before it created a new all-time soon after with the past five weeks closing bullish.

    CRO has a total supply of around 30B tokens and has a circulating supply of around 25.26B coins. CRO can be traded at a lot of different exchanges such as crypto.com, OKEx, Huobi with different trading pairs.

    Technical Analysis – Crypto.com

    The price of CRO has been highly bullish and as a result, it has created a new all-time high today (no surprise as it is an exchange right?).

    On the daily chart, we can see that the price has went on to break the structure to the lower side on the 4H time frame which may result in a possible movement of the price to the downside.

    We can see that the price had created an order block which can drive the price down. Beside the inefficiency in the price, action is also a confluence to this short-term bearish move. If this happens we can expect a good bounce from CRO at that point. Overall the price is still bullish and its bullish structure would still be intact if it goes down to the daily order block.

    Price Prediction – Crypto.com (CRO)

    CRO is a highly good investment. The way the exchange is launching new partnerships, it wouldn’t be long before it becomes one of the highly used exchanges. According to Digital Coin Price, It is expected to reach a value of $0.93 in one year. In five years CRO is expected to reach almost $2. But investors think that the price will go much higher than the one which is expected.

  • Update on the Crypto Market: What’s next

    Update on the Crypto Market: What’s next

    The crypto market is very hard to judge with a lot of volatility around the space. But the market updates keep the investors interested. If we go back into the past, things are improving for the cryptocurrency industry. And, Bitcoin and altcoins are getting more approval than ever before.

    Bitcoin (BTC) has been trading in the key support region of $46,666 and resistance of $50,000. BTC crossed the $50,000 mark on August 23rd, 2021 for the first since the last three months.

    Regulation heralds the coming age of any new financial instrument. Some might argue that cryptocurrencies do not need help from the authorities. It may sometimes. But for cryptocurrencies to thrive in the masses, they need to be regulated.

    Lately, there has been a lot of drama in the Crypto Market. China has threatened Bitcoin and completely ban the mining process.

    Increased regulatory scrutiny from China is changing the bitcoin mining landscape. The bans aren’t exactly shocking, but their sudden manifestation and stringency have left miners in the region reeling.

    Apart from the problems that miners are facing in China. What effects will this ban have on the crypto society in the future? That’s the crucial question. Well, since the ban news first surfaced, it had its impact on the market for a while. But there’s much optimism considering the circumstances in the US.

    It is estimated that a substantial minority around 30% to 40% of China’s orphaned hash rate will end up in the United States, with Texas leading the charge. While the rest of the miners are expected to set up in the Central Asian region.

    The U.S. is positioned to benefit greatly from the shakeout. We anticipate over 40 exahashes will be managed by U.S.-based mining pools by the end of 2021.

    Recently, there has been a debate in the US government regarding the tax reporting of cryptocurrencies. For now, the US Congress blocked the crypto amendment. It was because of the undefined and broad language of the crypto bill.

    Recently there’s been a lot of hype around Non-Fungible Tokens. Popularly known as NFTs. What we’re saying here is that the blockchain world is evolving more than ever. Bitcoin’s adoption by financial institutions is growing. PayPal is a big example recently.

    The US government reportedly is pushing to include global crypto data sharing rules in the $3.5 trillion budget package. The Biden Admiration is keen to get hands-on the proper legislation of the crypto markets. The Treasury wants crypto businesses to report information on foreign account holders. So, the U.S. government can share information with global trading partners.

    This is a good signal for the crypto community in the long term as we’re heading towards crypto adoption. Now the US government is serious about the crypto market and thinks of it as a major revenue tax stream.

    However, former US President Donald Trump, in a recent interview, said that he’s not a big fan of Bitcoin. His stance regarding the crypto industry has been rather strict. If we see Donald Trump once again as the US president, things might get different.

    Trump made a statement saying that he would like to see US currency thrive. He doesn’t like it because it’s another currency competing against the dollar. With hurdles, governments will gradually accept the reality and how crypto market can add billions to their economy.

    There’s this latest update from Twitter. The social media giant could soon enable users to tip content creators using Bitcoin. This will be added via the latest update to Twitter’s Tip Jar feature.

    Market Situation

    Moving towards Bitcoin, things are looking good as of September 1. We might head towards a new bull run. Ethereum with the ticker name ETH has really kicked off and has lowered the dominance of BTC to 41.9%. And, Ethereum dominates by 19.1%.

    Ethereum dominance means that altcoins are the ones that will benefit the most from the bull run. When there is higher BTC dominance, it means that Bitcoin will have a higher trading volume.

    As of September 1, Ethereum’s price breaks $3,500 and hits 3-month highs against Bitcoin. Is Ethereum’s rally signaling the next bull market phase for Bitcoin above $50,000?

    Bitcoin has been seeing some consolidation below $50,000 as a psychological barrier. However, during this pullback, several big altcoins have been surging in price, suggesting that the alt season isn’t over yet.

    Meanwhile, Bitcoin’s price faces a crucial resistance to breakthrough. While Ether is already cracking that resistance, hitting a three-month high versus BTC. And, facing a run toward the next resistance around the all-time high.

    The primary question is now whether this Ether breakout is a signal for Bitcoin to follow suit. And, break through the resistance barriers in September. Historically, September has been a corrective month. Meaning that such a breakout may catch many traders off guard. The critical resistance zone at $51,000 is key to break for Bitcoin to push further upwards.

    The daily chart for Bitcoin shows a consolidation between $44,000 and $50,000. This consolidation resulted in a big breakout of altcoins. Some altcoins already broke their previous all-time highs.

    The bearish divergence in the chart will only be confirmed when the recent higher low is invalidated and broken downward. At that point, the uptrend is officially reversed.

    Currently, the market is consolidating after the rally from Bitcoin’s July lows. The bearish divergence remains unconfirmed until Bitcoin loses the lower bound of the support range, which can be found at $44,000.

    Whereas, the total cryptocurrency market capitalization shows a bullish continuation with constant higher lows and higher highs.

    The crucial breaker for the market cap to break through is the resistance zone, around $2.12 trillion. Once that one breaks, more upside is likely toward new all-time highs. This structure might also foreshadow Bitcoin’s price trajectory. As the Bitcoin and USDT charts are showing upside.

    On the other hand, Ethereum crossing the crucial breaker at $3,400 is a big signal for the crypto market. The difference between Bitcoin and Ethereum right now is that Ether is hitting higher highs, while Bitcoin remains in a sideways range.

    So, the critical breaker for Ether is the previous resistance zone at $3,400. As long as that sustains support, continuation toward all-time highs becomes increasingly likely.

    However, if a breakdown beneath $3,400 takes place, a potential bearish divergence comes into play. This could end in a correction to $2,600. Such a correction would also affect Bitcoin, which also has a few critical levels to watch as support.

    Conclusion

    To conclude our analysis of the market, if Bitcoin doesn’t go vertical or has a significant impulse wave. Altcoins are in a splendid position to outperform BTC in the short term. And that’s what the market is currently seeing.

  • Diginex Ltd. (EQOS) Stock Trends Lower Despite Recent Announcement of Collaboration with Intelligence Squared to Launch Series of Crypto Debates

    Diginex Ltd. (EQOS) Stock Trends Lower Despite Recent Announcement of Collaboration with Intelligence Squared to Launch Series of Crypto Debates

    Diginex Ltd. (EQOS) stock prices were down by 4.11% as of the market closing on July 7th 2021, bringing the price per share down to USD$5.83. Subsequent premarket fluctuations saw the stock fall 2.06%, down to USD$5.71.

    Collaboration with Intelligence Squared

    July 8th 2021 saw the company announce its collaboration with Intelligence Squared to launch a special series of debates titled “Intelligence Squared Crypto: Debates Within Cryptocurrency”.  The series will seek to urgently address critical issues in the world of cryptocurrency. Several of the world’s best speakers will debate the issues and opportunities related the crypto industry. The series will begin with a debate on the merits of Bitcoin vs gold, the scarcity and anti-inflationary properties of which make them resilient stores of value.

    About the Debates

    The series aims to make the up and coming cryptocurrency sector more accessible to a wider audience, with a focus on Bitcoin, with the biggest names in crypto sharing their views on some of the most important issues. Audience members will have the facility to ask question and can vote on the motion set for the proceedings of each event. The environmental impact of crypto will also be debated, as will Bitcoin’s potential threat to the U.S dollar as a global reserve currency.

    Launch of IS

    The launch of Intelligence Squared Crypto was funded by EQOS by bitcoin, which is being held on the company’s balance sheet, having been stored securely by the company’s FCA registered digital asset custodian, Digivault. The events will be free to attend, with the audio from each event becoming episodes on Intelligence Squared’s podcast network.

    Scope of Collaboration

    Intelligence Squared is a globally leading platform for high-level debate and discussion, with a network of podcasts and a YouTube subscriber count of more than 430,000 users. The platform also has a digital subscription service for live events, called, Intelligence Squared+, which the company will use to facilitate in-person events in London in autumn. The raising of awareness will help bring crypto into the mainstream limelight with healthy debates about all aspects of its utility, sustainability credentials, and challenges. The partnership is expected to be a critical step in the increased adoption of the burgeoning industry.

    Future Outlook for EQOS

    Armed with its collaboration to increase the scope of cryptocurrency, EQOS is poised to capitalize on the opportunities afforded from the expansion of the crypto sphere. Investors are hopeful that management will continue to leverage the resources at their disposal to both facilitate the raising of awareness, as well as the networking of the company with the biggest names in the industry.

  • Phunware, Inc. (PHUN) Stock on the Rise Following Ten Million PhunToken Sweepstakes Announcement

    Phunware, Inc. (PHUN) Stock on the Rise Following Ten Million PhunToken Sweepstakes Announcement

    Phunware, Inc. (PHUN) stock prices were up by a significant 7.1428% shortly after market trading commenced on June 29th 2021, bringing the price up to USD$1.425 early on in the trading day.

    Ten Million PhunToken Sweepstakes

    June 28th, 2021 saw PHUN announce its Ten Million PhunToken Sweepstakes, which will coincide with the release of PhunWallet on the Apple app store. The release will see PhunWallet penetrate both the Apple and Android markets, having already been launched on Google Play. The Sweepstakes will commence at the end of July and will provide participants with the opportunity to early daily entries by engaging with content inside of the PhunWallet app. As per the initiative, 10 winners will be selected to receive one million PhunTokens each.

    PhunWallet

    The company hopes to combine its PhunWallet and its dual token economy to provide an innovative new platform to brands and consumers. The platform will serve to give stakeholders more control over their data and compensates consumers fairly for their participation. PhunWallet is a cryptocurrency wallet and mobile application that works in conjunction with the company’s proprietary blockchain-enabled data exchange and mobile loyalty ecosystem. The data exchange and ecosystem are respectively powered by PhunCoin and PhunToken.

    PHUN Cryptocurrency

    Being a regulated store of value, PhunCoin serves to compensate users for their data, while PhunToken is designed to be a medium of exchange that encourages profitable behaviour by unlocking key features of the company’s MaaS platform that reward and measure engagement.PhunCoin issuances identified by the SDK for Apple and Android can be manage by PhunWallet, facilitating the rewarding of consumers for their data with PhunCoin by third-party mobile applications.

    PhunWallet Services

    Besides managing PhunToken purchases, PhunWallet allows user to manage PhunCoin purchases made in accordance with approved exemptions. PhunTokens can be earned by participating in activities that foster profitable behaviour, such as watching branded videos, completing surveys and visiting points of interest. The platform also facilitates the discovery of brands, deals, and opportunities that are tailored to users. Through PhunWallet, users can opt in or out of specific audience segments that are used by brands to personalize data-enriched media without compromising their PII.

    Future Outlook for PHUN

    With the company set to be acquired, PHUN is poised for the expanded facilities that will be made available to it to drive further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • The OLB Group, Inc (OLB) Stock Surges Ahead of Announcement that SecurePay Will Support NFTs

    The OLB Group, Inc (OLB) stock prices were up by an impressive 7.27% shortly after market trading commenced on June 23rd, 2021, bringing the price per share up to USD$5.31 early on in the trading day.

    SecurePay Supports NFTs

    June 23rd, 2021 saw the company announce that its SecurePay payment gateway would facilitate the transfer or sale of digits assets using non-fungible token (NFT) technology. The NFT technology is founded on the Ethereum platform, which is responsible for token generation and redemption, transfer of registered ownership, and associations with assets.

    Fraud Prevention

    The explosive proliferation of digital ticketing over the past year has emphasized the need to address secure ways to buy and sell these digital properties. Of crucial importance is that this be done without the risk of fraud that is associated with the replication of QR codes or barcodes, particularly on the sale of Peer-to-Peer transaction. The transfer of ownership when an NFT is associated with a digital ticket or asset is assured through a blockchain ledger. This prevents the same ticket from being sold multiple times, which, unfortunately, happens quite often.

    Scope of SecurePay

    The secure NFT process that has been put in place by OLB is designed to work seamlessly with a myriad of payment processing options of SecurePay. This gives both buyers and sellers unmatched flexibility in funding sources. SecurePay works with several major digital wallets including Apple Pay, Google Pay, crypto wallets, PayPal, and traditional credit cards. Smart contracts are used by NFT functions to facilitate the easy exchange of funds and appropriate management of terms and conditions of sale.

    Utility of NFTs

    While NFTs are most often associated with art and transactions of collectibles, the way they work is ideal for the sale or transfer of any digital asset, regardless of the dollar value. The company is dedicated to providing solutions that benefit all the parties involved in flexible and secure buying and selling. NFTs are the latest addition to the portfolio of service that the company believes will be effective in the fight against digital asset fraud.

    Future Outlook for OLB

    Armed with its foray into the burgeoning NFT market space, OLB is poised to continue its trajectory of success. The company is keen to expand its market footprint in the blockchain space, thereby ushering in unprecedented growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) stock prices were down by a marginal 1.93% as of the market closing on June 11th, 2021, bringing the price per share down to USD$31.03. Subsequent pre-market fluctuations have seen the stock rise by 6.99%, bringing it up to USD$33.20.

    May 2021 BTC Production Report

    RIOT reported having produced a total of 227 BTC in May 2021, representing a 220% increase over the 71 BTC reported having been produced in May of the prior fiscal year. Year-to-date production numbers through to May of 2021 were reported at 924 BTC, up almost 101% over the company’s pre-halving BTC production during the same period over the course of fiscal 2020, which reported 460 BTC being produced. As of May 31st, 2021, the company reported having a total of almost 2,000 BTC, the entirety of which was produced by the company’s own mining operations.

    Acquisition of Whinstone

    May 26th, 2021 saw the company announce the completion of its acquisition of Whinstone U.S., including their Rockdale facility, which is the largest Bitcoin mining facility in North America. The facility comes in at 300 MW in developed capacity. RIOT announced its intent to facilitate the immediate development of additional capacity at the Whinstone facility, in order to raise the cap to 750 MW. An industry-leading development team of more than 10 employees will spearhead the expansion.

    Bitmain Purchase Order

    May 2021 saw the shipment of 1000 S19 Pro Antminers (110 TH) as part of a purchase order with Bitmain in December 2020. The installation of the miners is expected to be completed in Q2 2021, with RIOT reporting a total of 23,946 Antminer’s in operation. This array of miners uses roughly 76 megawatts of energy, with an estimated hash rate capacity of 2.4 exahash per second.

    Agreement with Mogo Inc

    The company recently announced the completion of purchase transactions with Mogo Inc, which saw Mogo acquire a cumulative entirety of the 3.4 million common shares of CoinSquare Ltd stock held by RIOT. In return, RIOT was granted a total consideration of 3.2 million shares of Mogo’s common stock, in addition to roughly USD$1.8 million in cash. As of this agreement, RIOT no longer owns any equity investment in Coinsquare.

    Future Outlook for RIOT

    Armed with the stellar reports and developments over the month of May 2021, RIOT is poised to continue its trajectory of success over the upcoming few months. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Bitcoin (BTC) Technical Analysis: 22 April

    Bitcoin (BTC) Technical Analysis: 22 April

    The market sentiment for Bitcoin (BTC) has turned bearish ever since the cryptocurrency established its all-time high at $64,863. In the 24-hour timeframe, Bitcoin started off the day at $53,399 but the bears quickly drew the cryptocurrency to the daily low of $52,657. Bitcoin remained on an uptrend for a while and established the 24-hour high at $54,850 but fell, subsequently. At the time of writing, Bitcoin stands at $52,500.

    Bitcoin (BTC) Technical Analysis

    The technical indicators stand at a neutral position. Bitcoin had been operating in an ascending channel formation with the upper boundary of the channel acting as strong resistance. After completing an Elliot wave, the bearish divergence of the coin intensified and instead of a pullback from the lower boundary of the resistance level, Bitcoin broke out of the channel to the downside. The bearish pressure on the cryptocurrency is also indicated by the 50 Moving Average. Bitcoin has fallen below the 50 MA level – hinting protracted bearish divergence.

    The immediate resistance level lies at 1.618 Fibonacci level parallel to the price level of $55,000. The weekly closing of $60,000 is another major resistance which lies parallel to the 0.5 Fibonacci level. While strong support can be found at $50,755 – at the 2.168 Fibonacci level.

    The future predictions for the cryptocurrency are not optimistic as the market for Bitcoin is in the grips of bears. The cryptocurrency may settle near the support level or if a trend reversal is spotted then the first major resistance level will be a viable price target.

    Bitcoin transaction fee has hit a new record high at $59.87 according to BitInfoCharts. The transaction fee has surpassed the high of the 2017 bull run as well which stood at $55.17. While the high transaction fee suggests an increasing traffic on the block chain, it can also result in a subsequent decrease in the number of transactions on the block chain which appears to be waning.