Popular crypto firm KuCoin has become the first centralised exchange to launch a non-fungible token exchange-traded fund (ETF), as per a recent announcement.
KuCoin has partnered with Fracton Protocol to launch Trading Zone ETF, and it aims to increase liquidity to the exchange’s more than 20 million users and lower the investment threshold for these assets:
#KuCoin Becomes the First Centralized Exchange to Launch #NFT ETF to Support #BlueChipNFT Investments
KuCoin Going All Out on NFTs Despite Market Downturn
The ETF will offer investors exposure to blue-chip NFTs that can be directly purchased with Tether (USDT). As such, the ETF is made up of five popular NFT collections including BAYC (hiBAYC), CryptoPunks (hiPUNKS), Koda NFTs (hiKODA), hiSAND33 and hiENS4.
We are very excited to become the first centralised crypto exchange to support NFT ETFs that allow users to conveniently invest and trade top NFTs directly with USDT. In the future, KuCoin will keep exploring more NFT-related products for our users.
KuCoin blog post
KuCoin has been working on developing several NFT-related products and services this year. In April, it launched two NFT launchpads, Wonderland and Windvane. The firm said it would continue to roll out more NFT and Web3-related features in the future.
While KuCoin is the first crypto exchange to launch an NFT ETF, FinTech firm Defiance was already one step ahead with the world’s first NFT ETF, launched on December 2 last year.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. KuCoin Token (KCS)
KCS is the native token of KuCoin, launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralised trading solution goes live, KCS will be the native asset of KuCoin’s decentralised financial services as well as the governance token of the KuCoin community in the future.
KCS Price Analysis
At the time of writing, KCS is ranked the 46th cryptocurrency globally and the current price is US$10.53. Let’s take a look at the chart below for price analysis:
KCS has been trading through a massive range during Q2, with the price showing mild bullishness from last week.
Bulls bought near $9.50. The weekly level and daily gap near $10.23 could prompt buyers to step in again as the price challenges the swing high and resistance around $13.50. A strong move and acceptance above this level may reach for the swing highs at $14.75 and $15.66, which mark another area of resistance.
However, rejection from the current area may send the price down to retest support near $10.00. Relatively equal lows around $9.78 provide a rich target for a stop run. Sustained bearishness may reach the low near $8.90 and possibly as low as $7.14 into higher-timeframe support.
2. Near Protocol (NEAR)
NEAR Protocol is a decentralised application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism, called “Doomslug”.
NEAR Price Analysis
At the time of writing, NEAR is ranked the 25th cryptocurrency globally and the current price is US$3.36. Let’s take a look at the chart below for price analysis:
During Q2, NEAR has retraced 70% from its highs to support at the retracement of around $3.10.
The price shifted market structure to run to the consolidation lows near $3.40, just under the monthly open. A continued bearish trend in the market may create support just below, between $3.00 and $2.70.
On the other hand, if the current resistance breaks, the price might find resistance near $4.83 and $5.14, whereas mid-Q2 buyers may still be trapped in longs.
3. Compound (COMP)
Compound COMP is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform. When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. These COMP tokens can be bought from third-party exchanges or can be earned by interacting with the Compound protocol, such as by depositing assets or taking out a loan.
COMP Price Analysis
At the time of writing, COMP is ranked the 99th cryptocurrency globally and the current price is US$39.29. Let’s take a look at the chart below for price analysis:
After rallying over 55% from its Q1 low, COMP is encountering resistance near $57.43.
This resistance and the monthly open at $40.13 currently have the price trapped. The swing high and resistance near $49.27 provide a likely target before any major bearish market shift, with continuation through this resistance possibly reaching for short stops and resistance near $62.55.
The daily gap at $35.12 could provide support, while the area beginning near $30.49 could see more substantial interest from the bulls. A longer-term bearish shift in the marketplace will likely reach the relatively equal lows near $28.48, possibly finding a floor at possible support beginning near $24.71.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Orion Protocol (ORN)
Orion ORN aims to solve the difficulties in performing profitable transactions associated with the lack of liquidity on the majority of crypto exchanges. This is the case for both centralised and decentralised exchanges. Orion’s solution to this is to aggregate exchanges’ order books into one simple-to-use-and-understand terminal.
The Orion Protocol’s goal is to help users get the best returns out of their investments while also lowering the risks associated with using multiple exchanges.
ORN Price Analysis
At the time of writing, ORN is ranked the 420th cryptocurrency globally and the current price is US$1.38. Let’s take a look at the chart below for price analysis:
After a 70% retracement from its March highs, ORN found a temporary low near $1.30. A recent move above $1.50 could be the first sign of a bullish shift – but could also signal a stop run before the next drop lower.
If the market adopts a more bullish tone, the price could run through the most recent swing high. If this bounce occurs, it would likely find some resistance near $1.65, possibly reaching up to $1.86.
However, a move below the closest support near $1.26 makes stop runs on the swing lows near $1.22 and $1.20 likely. A confluence of several levels near $1.17 could provide a temporary bounce. Still, a sustained bearish market will likely target $1.15 and even $1.06.
2. KuCoin Token (KCS)
KCS is the native token of KuCoin, launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralised trading solution goes live, KCS will be the native asset of KuCoin’s decentralised financial services as well as the governance token of the KuCoin community in the future.
KCS Price Analysis
At the time of writing, KCS is ranked the 40th cryptocurrency globally and the current price is US$15.84. Let’s take a look at the chart below for price analysis:
KCS has been trading through a massive range during Q1, with the price showing mild bullishness during March.
Bulls bought near $12.20. The weekly level and daily gap near $13.90 could prompt buyers to step in again as the price challenges the swing high and resistance around $16.50. A strong move and acceptance above this level may reach for the swing highs at $18.75 and $19.66, which mark another area of resistance.
However, rejection from the current area may send the price down to retest support near $13.40. Relatively equal lows around $12.78 provide a rich target for a stop run. Sustained bearishness may reach the low near $11.90 and possibly as low as $11.14 into higher-timeframe support.
3. Avalanche (AVAX)
Avalanche AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low-cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.
AVAX Price Analysis
At the time of writing, AVAX is ranked the 14th cryptocurrency globally and the current price is US$24.99. Let’s take a look at the chart below for price analysis:
AVAX‘s gains during Q1 ended with an almost 69% retracement as the rest of the altcoin market dropped from early this month. Bulls stepped in near the 52.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $44.35.
With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.
Near the 40 EMA, a broad zone from $35.15 to $29.45 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 70% retracement, at $23.70, and potentially lower to a higher-timeframe support zone between $21.42 and $20.80.
If the higher-timeframe recovery trend resumes and the current resistance near $37.35 breaks, the wicks near $49.84 and the new monthly highs may see profit-taking.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. KuCoin Token (KCS)
KCS is the native token of KuCoin, launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralised trading solution goes live, KCS will be the native asset of KuCoin’s decentralised financial services as well as the governance token of the KuCoin community in the future.
KCS Price Analysis
At the time of writing, KCS is ranked the 44th cryptocurrency globally and the current price is US$14.24. Let’s take a look at the chart below for price analysis:
KCS has been trading through a massive range during Q1, with the price showing mild bullishness during March.
Bulls bought near $12.26. The weekly level and daily gap near $13.80 could prompt buyers to step in again as the price challenges the swing high and resistance around $15.50. A strong move and acceptance above this level may reach for the swing highs at $17.75 and $18.66, which marks another area of resistance.
However, rejection from the current area may send the price down to retest support near $13.05. Relatively equal lows around $12.48 provide a rich target for a stop run. Sustained bearishness may reach the low near $11.96 and possibly as low as $11.23 into higher-timeframe support.
2. Monero (XMR)
Monero XMR allows transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography. The team behind Monero says privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users irrespective of how technologically competent they are.
XMR Price Analysis
At the time of writing, XMR is ranked the 29th cryptocurrency globally and the current price is US$163.21. Let’s take a look at the chart below for price analysis:
XMR‘s 70% rally during Q1 ran into resistance near $268. Since then, the price has been consolidating in a 120% range between $140 and $210.
Just below the monthly open, $160 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $153 might cap a run on the lows near $146 and $138.
The higher-timeframe analysis points to the area near $184 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $198 and $223 may be the next target.
3. Gala (GALA)
GALA aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games’ mission is to make “blockchain games you’ll actually want to play”. The project wants to change the fact that players can spend hundreds of dollars on in-game assets and countless hours playing the game, all of which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.
GALA Price Analysis
At the time of writing, GALA is ranked the 84th cryptocurrency globally and the current price is US$0.07883. Let’s take a look at the chart below for price analysis:
After setting a low last week, GALA turned into a recovery trend to make the new highs.
The following 70% plummet found support near $0.05439, sweeping under the 40 EMA into the 60.8% retracement level before bouncing to resistance beginning at $0.07320.
This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.08412, where aggressive bulls might begin bidding. The level near $0.08950, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.09785.
However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.06280 could provide at least a short-term bounce. If this level fails, the old highs near $0.05635 might also give support and see the start of a new bullish cycle after retesting these support levels.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Polygon (MATIC)
Polygon MATIC is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand-alone chains, or any other kind of infra required by the developer. The MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.
MATIC Price Analysis
At the time of writing, MATIC is ranked the 18th cryptocurrency globally and the current price is A$1.93. Let’s take a look at the chart below for price analysis:
After a stunning 85% drop since early June, MATIC seems to have entered an accumulation phase.
The last few days have found resistance in the weekly level near A$2.28, which may continue to hold the price down. The daily chart also shows resistance near A$2.21, while the swing high at A$2.13 gives a likely target if this resistance fails. A run above this level may reach the weekly gap with a high near A$2.06.
The consolidation around A$1.84 has provided support and could do so again. However, relatively equal daily lows near A$1.77 are a tempting target for bears. Below this level, little exists to provide explicit support on the chart.
2. Coti (COTI)
COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers.
COTI Price Analysis
At the time of writing, COTI is ranked the 150th cryptocurrency globally and the current price is A$0.5541. Let’s take a look at the chart below for price analysis:
COTI‘s nearly 57% drop since May found a low in late July, with price action now trending upward through a higher-timeframe range reaching its all-time high.
The area beginning near A$0.6439 has provided strong resistance and may do so again. However, relatively equal highs near A$0.6682 offer a tempting target for bulls. A run of these highs may reach up into the daily gap near A$0.7055.
Aggressive bulls might add to their positions near A$0.5147. If the price breaks through this level, it may be reaching for the cluster of swing lows near A$0.4835 and A$0.4701. A more substantial move down may run stops below the relatively equal May lows, around A$0.4255, into the daily gap at this level.
3. KuCoin Token (KCS)
KCS is the native token of KuCoin, which was launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralised trading solution goes live, KCS will be the native asset of KuCoin’s decentralised financial services as well as the governance token of the KuCoin community in the future.
KCS Price Analysis
At the time of writing, KCS is ranked the 89th cryptocurrency globally and the current price is A$16.72. Let’s take a look at the chart below for price analysis:
KCS has been trading through a massive range since July, with the price showing mild bullishness during August.
Bulls bought near A$14.26. The weekly level and daily gap near A$15.20 could prompt buyers to step in again as the price challenges the swing high and resistance around A$16.32. A strong move and acceptance above this level may reach for the swing highs at A$18.75 and A$20.66, which marks another area of resistance.
However, rejection from the current area may send the price down to retest support near A$14.05. Relatively equal lows around A$13.48 provide a rich target for a stop run. Sustained bearishness may reach the low near A$11.96 and possibly as low as A$10.53 into higher-timeframe support.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
