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One Low-Cap Altcoin Set for Massive Supply Shock As Solana Preps for Epic Rally: Crypto Analyst

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A popular crypto strategist and trader is predicting a fresh price spike for smart contract platform Solana and says one low-cap altcoin is gearing up for a supply shock.

Pseudonymous crypto analyst Credible tells his 251,900 Twitter followers that he expects Solana (SOL) to ignite a massive rally after breaking out and starting a new wave of its cycle.

“SOL is leading the market and looks to have completed its macro 4th wave as a triangle. This implies we have begun the final fifth wave of SOL’s first macrocycle. This is going to be epic and a taste of what we will see across the board in the coming months. Expecting $500+.”

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Source: Credible/Twitter

The trader relies on the Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology that tends to manifest in waves.

The crypto analyst is also keeping a close watch on Curve (CRV), the governance token of stablecoin-focused decentralized exchange Curve Finance. According to Credible, he expects CRV to surge as high as $6.50 now that it has taken out key resistance at $3.50.

“CRV is synergistic with CVX (Convex Finance). I can’t explain the mechanics in a tweet – but when CVX goes up it increases the inherent value of CRV and when CRV goes up it increases the inherent value of CVX.”

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Source: Credible/Twitter

Convex Finance is a platform designed to help CRV token holders and liquidity providers earn additional interest rewards. At time of writing, CRV is trading at $3.75 while CVX is exchanging hands at $19.61, according to CoinGecko.

Credible says he’s bullish on Curve because nearly 90% of its supply is locked for the coming years.

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“Oh, and 89% of all circulating CRV is locked away for around 3.7 years lmao. So when we DO break out and everyone is clamoring to join in on the green candles, there is going to be a massive supply shock that sends prices even higher, faster. Get yours before it all starts… Yea so locking generates voting power – which in turn is used to boost yields for other protocols – so vote locked CRV is in high demand.”

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Source: Credible/Twitter

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Six Crypto Airdrops Could Be Coming to Savvy Altcoin Traders, According to Coin Bureau

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Pseudonymous Coin Bureau host Guy says that worthwhile crypto airdrops could be on the horizon while explaining a short history of the phenomenon.

Guy tells his 1.67 million subscribers that although most airdrops today are giving away tokens that will likely be worth very little, a few well-established blockchains are handing out coins for traders willing to meet the required interactive bounties.

“The truth is, there are no doubt a lot of other projects that are giving away their tokens for free right now but that’s because most of them are pretty worthless…

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However, it’s those airdrops that are distributed by popular projects in ecosystems that are the most lucrative, those that are worth more than a few thousand. These are the ones that you’re most likely to hear about it.

Most of these high profile airdrops have been in the decentralized finance (DeFi) space, where people will have had to have interacted with a protocol or DApp in some way, shape, or form.”

Arnold speculates that crypto wallet MetaMask, layer-2 Ethereum scaling solutions Arbitrum and Optimism, and popular NFT marketplaces such as OpenSea, the Bored Ape Yacht Club, and Solana’s decentralized exchange Solanart are the next token-less blockchains that may host airdrops in the future.

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“There are a plethora of low-value airdrops out there that give you virtually nothing… I think if you really want to increase your chances of a lucrative airdrop, use those services and protocols that are actually adding value. Those that you would use anyway and not solely for the chance of an airdrop…

On top of this, those projects that are providing the value are more likely to have a valuable token if it were to drop, it’s only logical. The same goes for anything in the NFT space.”

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5 Tips To Recognize Scam in Altcoins?

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The amount of different altcoins increases daily and there are more and more frauds happening. So how to identify the next 1000x rocket and avoid scams like SquidGame?

1. Amount of holders

Check the holder amount, always! This is something that can be also inflated, but coins with a market cap of millions with only a couple thousand holders are rare and should always raise a red flag! This is easily done by looking into the contract either in EtherScan or BscScan!

2. Look at Liquidity Pool

It’s important to check the liquidity pool compared to the market cap! If the market cap is high but there’s basically no liquidity it should always raise a red flag! A good ratio for this is that the liquidity pool is at least around 10% of the market cap! 

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3. Check if The token is Doxxed / Audited!

Tokens are nowadays often audited by third parties. There are already some fraudulent audits going on, you cannot solely trust this but good to keep in mind while searching for the next x1000 rocket. 

4. Don’t invest without checking yourself!

If it’s too good to be true, it most probably is not. Do your own research and at least check the things mentioned in this article, never go with recommendations purely – If you’re not a gambler. In altcoinreviews.org you can find reviews of tokens where for example the things mentioned in this article are summarized by coin. 

5. Check the community!

It takes only a couple of minutes to join the tokens telegram channel. Don’t neglect this step, there are lots of huge Telegram groups full of bots, but bots rarely write. Follow the groups for a day or so to see how active the community is and there are lots of fraudulent comments!

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Analytics Firm Santiment Issues Warning to CRO Traders, Says Explosive Altcoin Flashing On-Chain Weakness

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The Crypto.com Coin (CRO) has surged in price this week, but the analytics firm Santiment is warning that certain metrics indicate the red-hot crypto asset could be primed to cool off.

The crypto asset’s momentum developed after news broke that the iconic Staples Center in Los Angeles will be rebranded to Crypto.com Arena. Now, CRO, the cryptocurrency that powers the Crypto.com payment, trading and financial services platform is trading at $0.76, up more than 60% from where it was a week ago.

In a new analysis, Santiment notes that CRO has seen a spike in FOMO (fear of missing out) on social media – a potentially bearish indicator.

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“The FOMO is real as seen from the massive spikes in social volume over this month as compared to the previous months. So much so that it was appearing more than once as one of the top words in our Social Trends ranking.

Historically, if a coin appears for several days in Social Trends, it’s highly likely that the local top is in.”

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Source: Santiment

Santiment also examines the MVRV 7D metric, calculated by dividing CRO’s market value by its realized value.

The analytics firm notes that CRO is currently in the “danger zone” because short-term holders of the asset have seen their investments rise in value, which could convince them to take profits.

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Source: Santiment

Santiment says CRO will likely cool off before its next price run.

“On-chain/social metrics are also indicating that quite a number of people FOMO’d in and will likely act as sell pressure if things go south.”

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