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Tag: Price Prediction

  • Stellar (XLM) vs. Ripple (XRP) – Who will win the race?

    Stellar (XLM) vs. Ripple (XRP) – Who will win the race?

    Stellar Lumens (XLM) and Ripple (XRP) are considered strong competitors because of their similar offerings. They are not exactly the same but both the platforms are considered to be in a race. Stellar vs. Ripple debate is an ongoing one. Let’s delve into what both these projects are and who has a better future projection.

    Ripple (XRP)

    Ripple (XRP) was launched in 2013. The cryptocurrency had been operating in the top ten ranked in terms of market capitalization. The cryptocurrency has a price of $1.13, at the time of writing with the price having decreased by 15% in the past week. The year-to-date returns on the cryptocurrency are at $413%. Ripple is tackling the problems that the global payment ecosystem is facing currently. It aims to enable banks and other financial institutions to make international payments fast, cheap, and more efficiently.

    Stellar (XLM)

    Stellar (XLM) is operating at a price level of $0.47 with a 28% decrease in the past seven days, at the time of writing. XLM coin is ranked at sixteenth in terms of capitalization. Stellar has 273% year to date returns. Stellar and Ripple are considered strong competitors because they both target the same niche – increasing the efficiency of the global payment ecosystem. The difference in both the networks is the target audience – while Ripple is aimed at banks and other major financial institutions, Stellar Lumens targets the average person. Stellar also focuses more on the financial inclusion of less developed countries.

    Who will win the race?

    Ripple and Stellar both have private nodes without mining being allowed, incorporates distributed ledger technology and provides instantaneous transactions for the global payment system. Both Ripple and Stellar are unique in their own ways. Ripple has a higher market ranking with partnerships with many banking behemoths including the Bank of America, Royal Bank of Canada. Stellar has a partnership with the tech giant IBM.

    Ripple has its supply capped at 100 billion coins. Initially, Stellar Lumens also had a supply of 100 billion with inflationary mechanism; however, that was ended and now Lumens have an approximate supply of 50 billion. And the golden rule of economics states the lesser the supply, the greater the demand.

    The future of Ripple (XRP) is also based to a large extent on the SEC lawsuit going on with the foundation which alleges the firm had been raising funds through the sale of XRP as an unregistered security.

    Wallet Investor places Stellar Lumens at a price of $0.975 after a year and at $2.241 after five years while the projections for Ripple XRP are at $1.662 in one year and at $2.751 in five years. Digital Coin Price predicts Stellar to be at $1.61 in 2028 while Ripple is predicted to be operating at a price level of $5.17.

  • Monero (XMR) coin year in review and future predictions

    Monero (XMR) coin year in review and future predictions

    Monero (XMR) established its all-time high at $517 two weeks ago. The cryptocurrency has since fallen amidst the market dip. At the time of writing, Monero stands at a price level of $289 with the price increasing in the daily timeframe. Monero is considered as the de facto market leader of privacy coins. The coin often times get preferred to competitors like ZCash.

    Monero (XMR) Adoption and Acceptance

    Like all cryptocurrencies, Monero (XMR) saw huge growth in the year 2021. The cryptocurrency also saw a wide acceptance and adoption. Merchants all around have begun to consider the value that Monero provides because of its privacy features; hence, the project was able to bag various partnerships. Merchants in the block exploring sector, payment gateways, webhosting, entertainment and many more accepted Monero as a mode of payment and with the time the list continues to grow.

    It is not just merchants and retailers that are flocking to the privacy coin. Pro-privacy organizations and a number of free and open-source software (FOSS) projects have also incorporated Monero as a mode of payment.

    Monero (XMR) statistics

    • Monero’s transactions per day increased from 7,000 to 10,000 in the year 2019 – 2020 while the transactions saw a further increase to 23,000 per day in 2021
    • Monero’s blockchain grew by 13.34GB in 2021 compared to the 7.41GB growth in 2020
    • The year-on-year growth of the blockchain saw a 180% increase; however, the average size of a transaction fell by 13.76% YoY
    • Monero’s block subsidy (emission) dropped by 39% from 2020 to 2021
    • For the total transactions in 2021, the fees averaged at $0.0003211 while for 2020 the figure was at $0.0003916

    Monero (XMR) Technical Analysis

    Monero coin’s market sentiment in bearish – in line with the sentiment of the overall market. A majority of the technical indicators are giving out a signal of sell.

    Monero (XMR) Technical Analysis
    Monero (XMR) Technical Analysis

    A trader had identified a possible future trajectory for XMR coin. Per the trader’s analysis, Monero is expected to be operating on an Elliot wave count. The cryptocurrency is currently under pullbacks but it is expected to soon go upwards to nearly $350.

    Long Forecasts projects show that Monero crypto will close the year with a price level of $306 while the price may reach towards $500 in 2022. Digital Coin Price is extremely bullish on the cryptocurrency and expects that Monero will end the year with a price of $447. The five-year projection shows Monero at a price level of $1,258.

  • Institutions dumping Bitcoin for gold reveals JPMorgan

    Institutions dumping Bitcoin for gold reveals JPMorgan

    After Elon Musk announced Tesla will no longer be accepting Bitcoin (BTC) as a mode of payment, the cryptocurrency market had been tumbling downwards. Bitcoin touched a low of $30,000 – losing nearly half of its value from its April all-time high of $65,000.  The crash has caused panic in the market with investors looking to dump their BTC holdings.

    The merits of Bitcoin over gold have been long debated. The king of cryptocurrencies has been oftentimes compared to gold. As the value of digital gold skyrocketed during the bull run of 2021, institutional behemoths turned towards Bitcoin rather than gold. Bitcoin offers a much higher return on investment and the bull run further propelled the returns.

    However, such heavy losses cannot be ignored. JPMorgan’s analysts revealed in a note to investors that institutional investors are going back to gold and abandoning cryptocurrencies like Bitcoin. The news may not come as a surprise to many as the sentimental analysis of the market reveals strong fear. The fear and greed index places the market at a score of 11 – with zero as the highest level of fear.

    The investment bank also revealed that the Bitcoin futures saw the first biggest decline since the beginning of the bull run. The BTC market continues to suffer with institutional investors withdrawing heavily every day.

    Despite the bearish outlook of the market, JPMorgan Chase still maintains its long-term bullish projection for the cryptocurrency. The banking giant predicts that Bitcoin will eventually reach towards $146,000 in the long-term window.

    At the time of writing, Bitcoin stands at a price level of $40,310. The price has increased in the past twenty-four hours. The daily trading volume of the cryptocurrency is also moving upwards.

  • Filecoin (FIL) support level – To stabilize or to drop further?

    Filecoin (FIL) support level – To stabilize or to drop further?

    Filecoin (FIL) established its all-time high at $188 during April. The cryptocurrency had been oscillating between resistance and support ever since. The bullish pullback of the Filecoin coin was ruined as the cryptocurrency market neared a crash similar to the 2018 one. At the time of writing, Filecoin crypto stands at a price level of $88. The price has been down by 16% in the past twenty-four hours while the daily trading volume is going upwards. Ranked twenty-sixth in the market, the capitalization of the coin has been suffering as well.

    Filecoin (FIL) Technical Analysis

    The market sentiment for Filecoin crypto is strongly bearish. Out of the twenty-four technical indicators, fifteen are giving out an indication of the sell while eight are standing at a neutral position with only one indication of buy. Both the oscillators and moving averages are strong bearish.

    Filecoin (FIL) Technical Analysis
    Filecoin (FIL) Technical Analysis

    Filecoin (FIL) had been identified by a trader to be operating in a descending channel formation. The channel had been further divided. Filecoin, amidst the strong bearish downtrend, has fallen towards the lower portion of the channel. The trader had identified the price level of $88 as a strong support level – with the convergence of a supporting line with the lower boundary of the formation. FIL crypto is testing the strong support level at the time of writing. The upcoming price action of the coin will prove to be crucial as it is imperative to find out whether or not the cryptocurrency will be able to hold the support level.

    Filecoin (FIL) Price Prediction

    Wallet Investors’ one-year prediction shows Filecoin to climb upwards. The price level of FIL crypto is expected to be at $348 while the five-year prediction shows a price of $1329. Digital Coin Price also suggests a bullish trend in the coming years for FIL coin. Their projections estimate Filecoin to be trading at $127 by the end of the year and at a price level of $387 in five years’ time.

  • Cardano (ADA) to test major support level

    Cardano (ADA) to test major support level

    Cardano (ADA) has been one of the few cryptocurrencies that were showing positive growth despite the downward market trend. In the weekly window, Cardano coin had been one of the well-performing ones. However, cryptocurrency has succumbed to the bearish trend of the overall market as well. Cardano crypto peaked at a price level of $2.30 on the 16th of May. At the time of writing, the cryptocurrency stands at a price level of $1.61. The price is down by a whopping 23% in the past twenty-four hours while the daily trading volume has decreased by nearly the same amount as well.

    Cardano (ADA) Technical Analysis

    The technical for the cryptocurrency shows that the market sentiment for Cardano is neutral. Out of the total twenty-six technical indicators, ten are standing at a neutral position while the buy and sell indications are at eight each. Both the oscillators and moving averages are balanced at a neutral position.

    Cardano (ADA) Technical Analysis
    Cardano (ADA) Technical Analysis

    With the strong bearish outlook of the market, bullish analyses have been invalidated. Cardano (ADA) was expected by quite a few analysts and traders to eventually continue upwards but the cryptocurrency disappointed as it was not able to fight the strong bears. Cardano crypto is now expected to test the strong support level of $1.47. However, there is a good chance that the cryptocurrency may not be able to stabilize at the level.

    Cardano (ADA) Price Prediction

    The downturn of the market has not affected the long-term predictions of the coin by that much. Trading Beasts expects Cardano to be stable at an average price of $1.83 by the end of the year while by 2024 the price of the coin is expected to be at $3.1. Wallet Investor is still bullish on the cryptocurrency and projects a price of #3.5 by the end of the year with a price level at $9.1 in five years’ time.

  • Solana (SOL) going strong amidst market crash

    Solana (SOL) going strong amidst market crash

    Solana (SOL) may be one of the few cryptocurrencies that are immune to the current market crash. As established cryptocurrencies suffer immensely, Solana (SOL) continues on its strong uptrend. Amidst the crashing market, Solana established its new all-time high at $52. At the time of writing, the cryptocurrency is trading hands $49 apiece. The price of the cryptocurrency has increased by 8% in the past twenty-four hours while the daily trading volume has surged by 225%.

    Solana (SOL) Technical Analysis

    The market sentiment for SOL coin is strongly bullish. Out of the twenty-six technical indicators, sixteen are giving out a signal of buy with nine standing at a neutral position and only one indication of sell. The oscillators are mainly neutral while the moving averages are strongly bullish.

    Solana (SOL) Technical Analysis
    Solana (SOL) Technical Analysis

    Solana crypto has been operating in an ascending channel formation. A trader has identifiedSolana to have entered a rectangular zone marked by a major resistance and support. The price movements of the cryptocurrency have been oscillating inside the zone. The trader is expecting Solana crypto to soon break out towards the upside of either of the formations. Even if Solana breaks down to the downside from the ascending channel, it will still find strong support inside the rectangular zone and will stabilize. The trader has set the price levels of $64, $72, $82 and $99 as potential price targets.

    Solana (SOL) Price Prediction

    Solana (SOL) has been surging and the project is considered to possess a lot of potential. Solana is designed to facilitate decentralized app creation but with much higher ease and scalability. The project has bullish projections for the future. Wallet Investor predicts Solana crypto to be valued at $150 after a year while the price after five years is expected to climb to $574. Digital Coin Price is, however, not as bullish. They project the price of Solana to be at $73 after a year and $219 after five years.

  • Ethereum Classic (ETC): Strong resistance and support nearing

    Ethereum Classic (ETC): Strong resistance and support nearing

    Ethereum Classic (ETC) has fallen nearly 10% in the past twenty-four hours as the crypto market dipped. At the time of writing, Ethereum Classic (ETC) stands at a price level of $90. In the twenty-four timeframe, the price of the cryptocurrency dipped as low as $81 while the daily high was at $103. The daily trading volume of the hard fork has also declined by nearly 7%. The hard fork of Ethereum had been rising in par with the queen of the market but it was not immune to the cryptocurrency market crash.

    Ethereum Classic (ETC) Technical Analysis

    Even though the cryptocurrency has fallen, the technique for the Ethereum Classic is still bullish. Out of the twenty-six technical indicators, eleven are giving out a signal of buy while ten are standing at a neutral position and five are giving out a sell indication.

    Ethereum Classic (ETC) Technical Analysis
    Ethereum Classic (ETC) Technical Analysis

    A trader had identified ETC coin on an upward trend earlier; however, amidst the market dip, the cryptocurrency failed to uphold its upward trajectory. Now, as ETC coin is moving lowers it is crucial to identify strong support levels. The trader has identified the price level at $80 as strong support for ETC. The price of Ethereum Classic has had pullbacks from $80 in the past twenty-four hours. The hard fork is moving upwards amidst pullbacks with the $91 level as strong resistance. Once the resistance level is broken, it will be established as another strong support level.

    Ethereum Classic (ETC) price prediction

    Even though the current market corrections are brutal, it is highly likely that ETC coin will not reverse the gains it has had in the bull run of 2021 in the longer timeframe. The coin is expected to eventually resume its upward trend with most price predictions still bullish. Wallet Investor places the cryptocurrency at a price level of $129 after a year’s time while the five-year price prediction is at $174. Digital Coin Price is more bullish on ETC coin in the long-term window. Their projections predict ETC coin will have a price of $138 by the end of 2021 while the five-year price will be at $402.

  • Binance Coin (BNB): Will it rise?

    Binance Coin (BNB): Will it rise?

    Amidst the brutal market crash, Binance Coin (BNB) suffered immensely too. The third-ranked cryptocurrency has fallen 12% in just the past twenty-four hours while the 7-day loss is at a whopping 25%. Binance Coin was operating above $500 a few days ago but now the price has dropped to $500 with indications of going even lower. The 24-hour low stands at $486 while the high for the day was at $606. The daily trading volume for the cryptocurrency has been rising regardless as traders try to capitalize on the market dump.

    Binance Coin (BNB) Technical Analysis

    The market sentiment for the BNB coin is bearish in line with the overall cryptocurrency market. Out of the 26 technical indicators, thirteen are giving out an indication of sell with nine standing at a neutral position and just four indications of buy. Both the oscillators and moving averages are bearish at the moment.

    Binance Coin (BNB) Technical Analysis
    Binance Coin (BNB) Technical Analysis

    BNB coin has invalidated all bullish analyses as the whole market is in the grips of strong bears. A trader has identified various important support levels – most of which are expected to be broken by BNB coin. The first support level at $527 was broken by Binance Coin. The second support level to follow lies at the price level of $375. A good return on investment can be expected with short trades as the bearish trend of BNB coin is expected to last.

    Binance Coin Price Prediction

    The crypto market had been feared to enter major corrections as the bull run was thought to have over-lasted. The final push was provided by Elon Musk – CEO of Tesla – as he denounced the use of Bitcoin as a payment method for his Tesla cars because of environmental concerns. Musk has been called a hypocrite among many other names but that is not going to shift the market sentiment.

    HODLers stay strong as the long-term price prediction for the cryptocurrency remains bullish. Wallet Investor predicts BNB coin at $934 after a year while the five-year price of BNB is expected at $1,990. Digital Coin Price projects the price of Binance Coin at $776 by the end of the year while the 5-year price is expected at $2,197.

  • Uniswap (UNI) to break all time high soon?

    Uniswap (UNI) to break all time high soon?

    Uniswap (UNI) has been on an upward trend since February 2021. Amidst various impulsive moves, Uniswap crypto had established many higher highs. The current all-time high stands at a price level of $44.97. Uniswap coin is, once again, on an impulsive move and; hence, it is expected to establish a new all-time high as it skirts close to the level. At the time of publication, Uniswap was trading hands $42.54 apiece. The price of the cryptocurrency has increased by 15% since yesterday while the daily trading volume has upped more than 30%.

    Uniswap (UNI) technical analysis

    The Uniswap (UNI) market has a strong bullish outlook. Out of the total technical indicators for the cryptocurrency, seventeen are giving out a buy signal while eight are standing at a neutral position with only one indication of sell. The oscillators and moving averages both are bullish.

    A trader has pointed out towards the formation of an ascending channel. Uniswap coin has been oscillating inside the channel formation since February. The upper and lower boundaries of the formation are acting as strong resistance and support levels, respectively. The market had taken a downturn as the Uniswap crypto began a downward move in the channel. However, the trader predicts an upward break out from the channel formation after such pullbacks towards the lower boundary. The breakout from the channel will place Uniswap at a price target of $47.

    Uniswap (UNI) price prediction

    Trading Beasts predicts the average price for Uniswap coin by the end of year to be at $40. By the end of 2024, Uniswap is expected to have a price level of $63. Wallet Investor, on the other hand, is bullish in their estimates. Wallet Investor places Uniswap at $113 by the end of 2021 and at $400 in five years’ time. Digital Coin Price projects the value of Uniswap to be $62 by the end of the year while the five-year projections predict Uniswap to be at $192.

  • Chainlink (LINK) price developments: What to expect?

    Chainlink (LINK) price developments: What to expect?

    Chainlink (LINK) has been amidst strong bullish momentum after the cryptocurrency succumbed to bearish pressures. The surging Chainlink coin established a new all-time high at $52. At the time of publication, Chainlink was trading hands at a price of $51 apiece. The price of the cryptocurrency has increased by 6% in the daily chart while the daily trading volume of Chainlink has gone up by 60%. The decentralized oracle service has proven to be an integral part of the cryptocurrency sphere.

    Chainlink (LINK) technical analysis

    The market sentiment for Chainlink is bullish. Fourteen of the twenty-six technical indicators are giving out a signal of buy with seven standing at a neutral position. Five of the remaining indicators are giving out a signal of sell. The oscillators are bearish with an overall indication of sell while the moving averages are bullish with an overall indication of strong buy.

    A trader has identified Chainlink crypto to have formed a coherent wave count. Per the trader’s analysis, Chainlink has completed the formation of all five waves, portraying strong up and down volatility. While forming the wave count, LINK coin has also established various support levels which are crucial for the cryptocurrency to hold. Currently, Chainlink is on an upside move – an extension of the fifth wave. However, bearish momentum may soon overtake the market as minor retracements usually follow after impulsive moves. In that case, the price level of $46 will prove to be a strong support for Chainlink.

    Chainlink (LINK) price prediction

    Trading Beasts is projecting a gradual increase in the price of Chainlink over the years. The upward trend will result in Chainlink having a price of $61 by the end of 2024. The 2021 predictions for Chainlink are bearish with the year ending at $38. Digital Coin Price predicts Chainlink crypto will end the year with a value of $76 while it is expected to climb up towards $224 by 2028. Wallet Investor has issued a one-year prediction at a price level of $671 with the five-year prediction at $2332