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Here’s How Solana Price Could Be up by over 1000%

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VOC, Voice of Crypto, Solana

The host of a popular YouTube channel, InvestAnswers, recently chose Solana as a topic. James Mullarney spoke about the price conditions of the native cryptocurrency of the Solana blockchain, highlighting his price predictions for where the price might be headed.

Experts’ View on Solana

Coinbase, in a blog post, described Solana as a decentralized computing network that uses a combination of proof of stake and ‘so-called’ work history. They observed that, as a result, Solana is capable of handling up to 50,000 transactions per second and still able to function correctly in terms of decentralization while remaining one of the largest cryptocurrencies by market cap.

However, in the youtube video, James Mullarney compared the newly merged Ethereum network with Solana, taking into account speed, scalability, and security.

Mullarney’s observations can be summarized into three separate points:

  • Solana has a slightly larger number of daily active users (DAU) and breadth of Dapps, making it better than Ethereum in this regard
  • In terms of TPS or transactions performed per second, the fees on both networks are more or less the same
  • In terms of ecosystem, however, Ethereum has the edge unsurprisingly because it has been around for longer.

As for which of them was the better bargain among the two, Mullarney mentioned large corporations like Google and Tesla as examples, stating that they were once small before becoming what they are now known as today. According to him, that was a sign to get into things early.

SOL Price Trajectory

He also mentioned that if the market cap of Ethereum and Matic  is combined, you’d have a figure that was 17 times that of Solana. Even though these two chains, when combined, cannot perform 17 times more than Solana can.

The InvestAnswers host also noted that Ethereum only has the edge over other chains and networks because it was the first successful smart contract platform, with a headstart of over five years.

In the video Mullarney released, he explains how he sees Solana reaching $307 per coin, creating gains of over 1,070% from where the price currently sits.

As to how he arrived at this figure, Mullarney states that he simply compared the price of Bitcoin to Ethereum’s dominance in the future (which he believes to be 25%). Hypothetically if Ethereum’s dominance rose to this level and hit a price of about $15,450, Bitcoin could be at about $158,000.

According to Mullarney, if this happens and Solana hits about 10% of Ethereum’s dominance, the price of $SOL could hit the $370 mark.

 

 

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

 

 

 

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Polkadot Price Pumps On Tether News, Breakout Looking Likely

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VOC, Voice of Crypto, Polkadot, DOT

Polkadot is one of the latest cryptocurrencies on the news, following news of their recent ties with the Tether network, providing stable and easy in-and-out access for users of the Polkadot network.

Price Action On Polkadot

Over the past few weeks, DOT has broken down below the $7 mark and is currently retesting the $6.4 resistance. So far from a medium-term perspective, it has made a new lower low, looking likely for a downtrend continuation to occur. The MACD line is currently testing the RSI signal line, making it hard to guess where the market may be headed

However, the RSI on the 4-hour timeframe shows a value of 52, indicating neutral conditions from a medium-term perspective, and a likelihood for the market to move in either direction.

Chart of polkadot USDT showing RSI conditions and medium-term price action 

Chart of DOT/USDT showing RSI conditions and medium-term price action | Source: Tradingview

Tether, Recent News, And Effect On Polkadot Price Action

On the 23rd of September, Tether announced its launch on the Polkadot network, allowing the new option of minting some Tether on the Polkadot network.

Polkadot has been under the microscope in terms of growth and evolution, according to the CTO of Tether, Paolo Ardoino. Ardoino also believes that this new development of adding Tether to the Polkadot network is a great way of achieving that.

Following Tether’s announcement, there was noticeable price movement on the charts of DOT, the native cryptocurrency of the Polkadot network.

Chart of polkaDOT /USDT showing price movement right after Tether’s announcement

Chart of DOT/USDT showing price movement right after Tether’s announcement | Source: Tradingview

The price action of DOT was unable to maintain this bullish momentum. After hitting a high of $6.63, prices fell right back to the $6.19 support.

Where To Next?

The price action on the daily timeframe shows that DOT has been in a bullish wedge since May 2022, and is likely to break out and trend massively upwards anytime soon.

Chart on DOT/USDT showing bullish wedge

Chart on DOT/USDT showing bullish wedge | Source: Tradingview

Conversely, while the daily timeframe shows likely bullish momentum on Polkadot’s price soon, the indicators do not.

The daily RSI has indeed fallen below the 50 mark and is now at a value of 39.98. While some would argue that this is a bullish signal as well, the rest of the crypto market isn’t so sure.

Chart of DOT/USDT showing RSI indicator, but no bullish confirmation yet

Chart of DOT/USDT showing RSI indicator, but no bullish confirmation yet | Source: Tradingview

So far, there has been no bullish divergence between the signal line and the MACD line, suggesting that it might be risky to blindly enter a market long.

It is important to note that while a breakout seems likely, the price of DOT is currently testing resistance around the $6.4 level, and could still trade lower. This makes trading risky until we see a market confirmation.

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research). 

Jim Haastrup Author
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Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Terra LUNC Price Tanks 20% As Interpol Issues Red Notice For LUNA Founder Do Kwon

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VOC, Voice of Crypto, Terra, LUNA

Things went downhill for the Terra ecosystem right after the crash in May 2022, when the price of LUNA (the first Terra crypto) crashed by 99.9% from about $120 to $0.02 in under 24 hours. The Terra ecosystem lost billions of dollars, leaving many devastated.

The Terra ecosystem bounced back with the launch of LUNC or the Terra 2.0. A way to repay LUNA’s former holders.

LUNC did well on launch, minimizing the effect of the original Terra crypto crash. However, the cryptocurrency has been in a correction from its all-time highs and many have expressed optimism for its future, until 24 hours ago.

Terra LUNC Price Analysis

Over the last three trading seasons, the price of LUNC (Terra 2.0) has been in a bearish trend. This is understandable since the entire crypto market has been in winter since November 2021.

It is also worth noting that LUNC had a wonderful time in early September, reaching as high as $0.00062 before starting its descent to where it now sits.

So far, the price movement of LUNC to the downside has been reasonable compared to the entire market. Over the last week, the cryptocurrency’s price fell under the 50 and 20-period exponential moving averages right after the FED-rate hike, falling 7.25% and hitting a low of $0.000219.

Chart of Terra LUNC showing original dip after FED rate hike (green arrow) 

Chart of Terra LUNC showing original dip after FED rate hike (green arrow) | Source: Tradingview

While most other cryptocurrencies immediately picked up steam and began to trend upwards again, LUNC only trended upwards to the $0.000267 level and then fell by roughly 19% over the last few days. This came after the disturbing news of the issuance of a red notice by Interpol, for the arrest of the embattled Terra founder Do Kwon.

Chart of LUNC/USDT, showing a 19% decline over the last few days

Chart of LUNC/USDT, showing a 19% decline over the last few days | Source: Tradingview

Do Kwon’s Arrest And Effect On LUNC’s Price

This recent price drop came exactly at the same time after the International Criminal Police Organization (Interpol) issued a red notice for Terra founder, Do Kwon.

For context, a red notice is a worldwide arrest warrant issued to locate and potentially detain its subject.

A South Korean court issued an arrest warrant for Do Kown and several others, under allegations of misconduct and violations of the capital-market laws.

Soon after, Do Kwon’s whereabouts became a hot topic after Singapore reported that he was no longer in the country.

However, Do Kwon stated shortly after in a tweet, that he wasn’t on the run, and had nothing to hide.

Do Kwon is known for his abrasive attitude, adding to the fact that he has not tweeted anything since the last one denying that he was on the run. Recent events in general have shown that otherwise is true and that he is obviously on the run.

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

Jim Haastrup Author
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Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Cryptocurrencies Weekly Overview: XRP, ADA, SOl, DOT and MATIC

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VOC, Voice of Crypto, Bitcoin, Altcoins

Bitcoin, Ethereum, and several other altcoins began to rally upwards before the FED rate hike, indicating that the broader crypto market is of the opinion that the 0.75% hike is a “priced in” event.

On September 21st, the FED hiked interest rates by a whole 75 basis points, severely weakening the standing of several altcoins in the process. As if that wasn’t enough, the FED chairperson, Jerome Powell also made projections of an additional 125 basis points public. FED rates according to Powell, will continue to increase until the US inflation rate hits a low of 2%.

If FED rates continue to increase like this, the total figure may move from the 3% it currently sits at, to about 4.4%. A scary figure, compared to the original projections of 3.8%, made in June.

The downside of this recent development is that high-risk assets like stocks and cryptocurrencies will begin to lose their appeal, delaying the start of a new market trend from this crypto winter the market is currently facing.

Below, you’ll find in-depth analyses of some of the top altcoins, and how they fared during the storm throughout this week.

1) Ripple Crypto Coin (XRP)

This week was a good one for ripple coin. Following speculation about the result of the lawsuit the SEC filed against Ripple Labs, the price of XRP has done extremely well over the last week. This is because the broader crypto community expects Ripple Labs to come out victorious against the SEC after the hearing sometime soon.

Ripple the $0.41 mark and even closed above it on Tuesday, but the bulls lost steam and the price subsequently fell to the 20-day exponential moving average around the $0.38 mark.

Crypto XRP price chart

XRP price chart | Source: TradingView

However, the price subsequently reversed, catapulting the price of XRP to a high of $0.5575. The price of XRP is currently experiencing a correction and may either continue upwards or fall and retest the $0.42 support.

2) Cardano Crypto Coin (ADA)

Cardano has been in a range for a while now. The bulls have been trying to push ADA above the $0.5 – $0.51 resistance throughout the week, and have been unable to do so because the bears keep selling on intraday levels.

Crypto XRP price chart

XRP price chart | Source: TradingView

If the price of ADA drops below where it currently is and slips below the $0.45 support, the ADA/USDT pair may drop to the next pivotal support around the $0.42 level.

3) Solana Crypto Coin (SOL)

Solana, just like most other altcoins in the market, was affected by the FED-rate hike. It bounced off the $30 support and soon began to trend upwards.

Crypto SOL price chart

SOL price chart | Source: TradingView

The bulls, however, could not push the price above the 20-day exponential moving average around the $33 mark, indicating that the bears were ready and waiting at the higher levels.

SOL soon experienced a correction and is currently hovering around $31.32 at the time of writing.

If the bulls manage to take over again, we may see another retest of the $33 zone, and a possible bullish breakout above this level.

Conversely, if the bears take over, we may see a retest of the $30 level or a possible breakdown of this same level.

4) Polkadot (DOT)

Polkadot has been in a range between the $10 and $6 levels for weeks now. Recently, however, the price has slipped right back down to the $6 level after the FED-rate hike.

DOT price chart

DOT price chart | Source: TradingView

So far, the price has bounced off this level. However, in the event of a retest, the bulls are expected to defend this level with vigor once again.

A break below this point could be catastrophic for the price of DOT. Such a price movement could send DOT straight down to the next major support around the $4 level.

5) Polygon (MATIC)

Polygon, like DOT, has been trading in a range for the past few weeks. This time, polygon is bounded by the $0.72 and the $1.05 lines.

On Monday however, the price of Polygon broke through this level, sinking to the $0.72 support and then breaking below after the FED rate hike to the $0.6914 level.

MATIC price chart

MATIC price chart | Source: TradingView

Polygon’s price bounced off this support, hit the $0.77 level, and currently appears to be trending back down.

If the price hits the $0.6914 level and bounces off again, we may see a subsequent leg up and a retest of the $0.77 support. If the bulls manage to show strength again and break through this level, we may see strong bullish momentum to the upside.

However, if the $0.6914 level fails to hold the next time prices test it, we may see an even bigger downside to the price of polygon.

 

 

Disclaimer:

The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Technical Analysis: Bitcoin (BTC) and Ethereum (ETH)

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VOC, Voice of Crypto, BTC, ETH, MATIC, TRON

September has been especially eventful for Bitcoin, Ethereum, and by extension, the entire crypto market.

However, most of the interesting events happened in the latter half of September, from the long-awaited Ethereum merge to the FED rate updates, to the Vasil upgrade on the Cardano network just yesterday Thursday.

The overall crypto market has been on a bearish trend for the better part of 2022, and September was no different. Ethereum for example, currently trades at around $1300, despite being close to the $1700 mark before the merge.

The recent fall of the general crypto market, however, came right after the FED rate hike this week. The price of bitcoin, for example, fluctuated around the $19,600 mark, before falling to a low of about $18,200 right after the news of the FED rate hike hit the market

Bitcoin Technical Analysis

Bitcoin was arguably one of the worst-hit cryptocurrencies on the market after the FED rate increase. It fell to new lows around the $18,000 mark right after the US Federal Reserve meetings, dragging most other cryptocurrencies down with it.

The FED chose to increase the interest rates by a whole 75 basis points on Wednesday, marking the third increase in a row in 2022 alone, and the highest the interest rates have been since 1980.

The chairman of the FED, Jerome Powell also hinted that this FED rate increase was likely to continue until the inflation rate returns to its lows of around 2%.

As a result of this, the price of bitcoin slumped and fell to an intra-day low of $18,290. its lowest in three months.

Chart of BITCOIN USD, showing price bounce from the $18,200 leve

Chart of BTCUSD, showing price bounce from the $18,200 level | Source: Tradingview

Looking at the chart, we can see that bitcoin bulls took control soon after, sending the price back to where it now sits around the $19,600 level.

At the time of writing, the price of bitcoin is at $18,863 and is currently showing slightly bullish conditions on the RSI of the 4-hour timeframe.

Ethereum Price Analysis

Unlike bitcoin, Ethereum’s price didn’t suffer as much after the FED rate hike. This was because it had already suffered enough from the massive selloff that happened after the merge event.

The price of Ethereum was at the $1384 level when the FED rate hike came out. After this, it fell to the $1229 level. Less than a $150 drop. Just like bitcoin, the price of Ethereum collided with the floor and immediately rebounded, with the bulls taking over and sending the price back upward to the $1360 level.

Chart of ETH/USDT showing price rebound after lows from the FED rate hike

Chart of ETH/USDT showing price rebound after lows from the FED rate hike | Source: Tradingview

The price of Ethereum has reversed from there and is now trending down again. At the time of writing, the price of Ethereum is around the $1290 level.

The RSI on Ethereum shows slightly oversold conditions and may mean that the price is either about to experience a reversal, or more consolidation is expected before a more serious move up or down.

 

Disclaimer:

The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research).

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Top 5 Altcoins To Watch Out For This Week

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Knowing which altcoins to avoid investing in can be tricky. A lot of them appear promising at first, and then turn out to be serious loss-magnets for their holders and traders.

However, more important than knowing which coins to avoid, is knowing which ones to invest in. Because at the end of the day, every trader or HODLer aims to make some profits.

This article is about which altcoins we think are worth watching out for next week, and which to consider buying if you intend to make some profits before the end of September.

1) Ether

Ether obviously comes first in any list of prominent altcoins to watch out for. Ether is the cryptocurrency that powers the blockchain network, Ethereum.

Over time and especially after the merge, the price of ether has dipped from its $1700 high. It now trades at around $1290, giving investors an avenue to get in on the action before the price possibly rebounds upwards to the $2000 level.

Ether might be one of the cryptocurrencies you should consider watching out for next week.

2) Binance Coin (BNB)

Binance coin is relatively stable in price compared to other top cryptocurrencies and currently trades at around $273. over this week, the price of BNB has remained relatively stable, even going so far as moving upwards while most other altcoins dipped. BNB is currently testing support outlined by the 200-Period moving average on the 4-hour timeframe and may be worth putting on your watchlist for next week.

BNB price chart, altcoins

BNB price chart | Source: TradingView

The RSI on the daily timeframe shows neutral conditions, a sign of relative price stability.

3) USDT

It may be surprising that a stablecoin was included on this list, but more important than chasing wins is learning how to avoid losses.

The crypto market is a highly speculative one, and nobody knows where an asset’s price may be headed. The best anyone can do is speculate, and hope that their analyses are right.

In the crypto world, there is no better way to avoid losses altogether, than to convert assets into stablecoins, where the values neither go up nor down.

Converting your assets into a stablecoin can also be a good way to ensure you always have enough liquidity to buy dips.

4) Ripple Coin (XRP)

Ripple coin also deserves a place on this list. Over the last seven days, the price of XRP has experienced an increase of more than 63%. Possibly owing to public knowledge that the SEC’s lawsuit against Ripple labs is coming to a close. Everyone is trying to get in on the hype, and you might consider doing so too.

If the bulls on XRP maintain their strength and continue to push the price of the cryptocurrency up and against the bears, next week may prove to be a favorable one for its holders.

5) Cardano (ADA)

Cardano is one of the top-performing cryptos in the largest 25 by market cap. The Vasil upgrade on the Cardano network went live yesterday, pushing the cryptocurrency’s price up by up to 5% and helping its traders and holders cash in some profits.

ADA is currently in a correction and may continue to trend upwards with the new features the Vasil upgrade is expected to add to the network.

As to where the price of ADA may be headed next, nobody knows. But then its future looks bright, and next week is, by all means, part of that future.

Disclaimer:

The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research).

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Adekunle Joshua is a cryptocurrency writer. He has a deep understanding of the technology and how it can be used to improve the world. James is a strong advocate for using cryptocurrency to make the world a better place. He wants to help people understand the technology and use it to improve their lives.

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Crypto Analytics Firm Santiment Predicts Massive Price Rallies for BTC and XRP

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VOC, Voice of Crypto, BTC

Santiment, one of the top crypto analytics firms, seems to have much to say about bitcoin. They have recently stated that the benchmark cryptocurrency’s social dominance has actually gone up.

The social dominance metric harvests real-time data about the percentage of discussions on platforms such as social media focused on any one asset at any particular time. This metric uses the data of one asset relative to others to gauge the sentiment on the former. With this data, the social dominance metric acts as a reliable signal for predicting where the price of an asset might be headed.

Santiment maintains that Bitcoin’s price has hit a three-month low, right after the negative comments about it have surged to monthly highs. They also state that investors shorting bitcoin on exchanges have “halted the bleeding.” According to santiment’s report, Bitcoin’s social dominance has spiked, signaling a good bottom for the cryptocurrency.

Bitcoin's social dominance in correlation to its potential bottom, santiment

Bitcoin’s social dominance in correlation to its potential bottom | Source: santiment

XRP to Win SEC Lawsuit

As with XRP, however, santiment holds that the optimism among its bulls and traders that Ripple Labs may come out victorious in the ongoing lawsuit the SEC has against them has contributed to its recent pump. It is also important to note that XRP is the sixth largest cryptocurrency by market cap.

Other Altcoins

In an unexpected turn of events, santiment mentioned Ethereum Classic (ETC), one of the original Ethereum forks that still runs on a proof of work Blockchain.

According to santiment, the short interest in Ethereum classic has surged and may signal a massive dip on its part.

It is also important to note that Ethereum classic is the 22nd largest cryptocurrency by market cap. Santiment maintains that Ethereum classic is now experiencing the highest volume of short interest on exchanges among all 150 top crypto assets.

Ethereum classic’s situation is the exact opposite of the situation with REN, which is experiencing a high level of long interest. Santiment states that Ethereum classic is experiencing a high level of drawbacks against its price, as its bulls are beginning to weaken.

This short interest in Ethereum classic, as santiment highlights, became strongest right after the Ethereum merge earlier this month.

Of course, as we have now established, this is the exact opposite of REN’s situation. While the perpetual funding rates on exchanges point to greater price increases as far as REN is concerned, the exchange funding rates on Ethereum classic are flashing reds. They may mean that Ethereum classic is about to experience a massive dip.

 

 

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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