Category: Tezos

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Crypto News Market Analysis Tezos Trading Uniswap VeChain

Top 3 Coins to Watch Today: UNI, XTZ, VET – June 20 Trading Analysis

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. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating the automated trading of decentralised finance (DeFi) tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems that plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 21st cryptocurrency globally and the current price is US$4.00. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 70% retracement from its April highs set a low near $3.65 during its consolidation that began in early May.

Relatively equal highs near $4.46 could be the current target if the price breaks through resistance beginning near $4.97. Bullish continuation might reach through the next significant swing high near $5.26 into the daily gap near $5.47.

If bullish strength continues, the zones just below the monthly open near $5.88 and $6.11 could halt any retracement. 

A bearish shift in the market might seek the relatively equal lows near $3.90 into possible support near $3.62. If this down move occurs, the swing low near $3.43 and possible support near $3.12 may be the primary objective.

2. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 38th cryptocurrency globally and the current price is US$1.32. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 70% drop since April saw a second leg after last month’s market-wide drop ran the previous consolidation’s stops.

The level near $2.10 is providing some resistance. However, continuation through the monthly high at $2.18 is not out of the question. Aggressive bulls might bid in the current region near $1.40. 

If the price runs the recent swing low, bulls might bid in the gap near $1.20. A deeper retracement could reach near the early monthly level and a gap near $1.00. The region near $0.93 and $0.84 may also provide some support during a deeper retracement.

3. VeChain (VET)

VeChain VET is a blockchain-powered supply chain platform. VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management. The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.

VET Price Analysis

At the time of writing, VET is ranked the 31st cryptocurrency globally and the current price is US$0.02281. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 50% move during late Q1 ran into resistance near $0.08120, at the 35% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.02283 and may give support again on a retest. This area also has confluence with the 55% and 68.9% retracements of November’s swing.

Just below, near $0.02043, the 50.8% retracement of the current Q1 swing might also mark an area of support. 

If the market turns bearish, $0.01742 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.02948, at the 50% extension of the last week swing, could see some profit-taking if bulls break the current resistance near $0.03478. Above, old consolidations near $0.03825 and $0.04372 may also provide some resistance before another round of price discovery.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

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eBay NFTs Polygon Tezos

Ebay Taps Tezos-Powered ‘OneOf’ to Enter NFT Business

Popular e-commerce website eBay has announced the release of its debut collection of NFTs, a hockey-themed drop in partnership with Tezos- and Polygon-based NFT platform OneOf.

The release marks the marketplace’s first foray into digital collectibles after it had been teasing the concept for some time now:

NFTs a Year in the Making for eBay

eBay officially announced its interest in digital collectibles in May 2021 after CEO Jamie Iannone had foreshadowed the possibility of integrating into the world of NFTs and cryptos. In September 2021 eBay said it would allow the sale of NFTs on its platform and in March this year, Iannone suggested that eBay would start accepting crypto payments later that month.

eBay’s NFT collection will involve digital collectibles of popular athletes such as Canadian former ice hockey player Wayne Gretzky. Each athlete will have four tiers – green, gold, platinum, and diamond – with the green tier including NFTs as cheap as US$10.

The firm has said it intends to release more NFT collections of high-profile athletes over the rest of the year. Prices of the NFTs range up to US$1,500 and are purchasable via the same fiat payment methods as the platform’s other physical items.

“Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere,” said Dawn Block, eBay’s vice president of collectibles, electronics and home, in a statement. “This builds on our commitment to deliver high passion, high-value items to the eBay community of buyers and sellers.”

OneOf is built on the Tezos and Polygon blockchain, which both use a proof-of-stake consensus mechanism.

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Cardano Crypto News Fantom Market Analysis Tezos Trading

Top 3 Coins to Watch Today: ADA, FTM, XTZ – May 25 Trading Analysis

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. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform whose stated goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

ADA Price Analysis

At the time of writing, ADA is ranked the 8th cryptocurrency globally and the current price is US$0.5086. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s near 60% drop after Q1 found a low near $0.4635 during mid-May before closing over a short-term high.

This daily close over the high could signal a shift in market structure that may reach probable resistance near $0.6015. A sustained bullish move may target the swing high at $0.6422. If this stop run occurs, a run beyond the high into probable resistance near $0.7110 and $0.7519 is possible.

Bulls could buy a retracement to possible support near $0.4845, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.4425. 

However, relatively equal lows near $0.4157 and $0.4022 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.3847 and $0.3752.

2. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 50th cryptocurrency globally and the current price is US$0.4108. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce during Q1 ran into resistance near the old monthly highs. This rejection created a set of relatively equal highs near $1.62, possibly forming the next bullish leg’s target.

Currently, the price is testing possible support near the weekly open, around $0.4011. This level also has confluence with the 80.6% retracement of the current local range and the 18 and 40 EMAs. 

If this level fails to provide support, a zone from $0.3834 to $0.3530 might mark a possible swing low or consolidation area. This zone is between the 65.8% and 78.6% retracement of early August’s swing.

A more bearish tone in the market could propel the price lower. The lows, near $0.3230, might mark an area of possible support as well as a bearish target.

3. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 37th cryptocurrency globally and the current price is US$2.05. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 70% drop since late March saw a second leg after last month’s market-wide drop ran the previous consolidation’s stops.

The level near $2.50 is providing some resistance. However, continuation through the monthly high at $2.32 is not out of the question. Aggressive bulls might bid in the current region near $2.00. 

If the price runs the recent swing low, bulls might bid in the gap near $1.92. A deeper retracement could reach near the early monthly level and a gap near $1.86. The region near $1.80 and $1.73 may also provide some support during a deeper retracement.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

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COTI Crypto News Market Analysis Stratis Tezos Trading

Top 3 Coins to Watch Today: XTZ, STRAX, COTI – March 30 Trading Analysis

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. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 46th cryptocurrency globally and the current price is US$3.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 65% drop since late December saw a second leg after last month’s market-wide drop ran the previous consolidation’s stops.

The level near $4.10 is providing some resistance. However, continuation through the monthly high at $4.32 is not out of the question. Aggressive bulls might bid in the current region near $4.58. 

If the price runs the recent swing low, bulls might bid in the gap near $3.70. A deeper retracement could reach near the early-February level and a gap near $3.57. The region near $3.49 and $3.40 may also provide some support during a deeper retracement.

2. Stratis (STRAX)

Stratis STRAX is a blockchain-as-a-service platform that offers several products and services for enterprises, including launching private sidechains, running full nodes, developing and deploying smart contracts, an initial coin offering platform, and a proof-of-identity application. The company also provides cryptocurrency wallets and blockchain consulting services. Stratis operates its own blockchain powered by a native token, STRAX.

STRAX Price Analysis

At the time of writing, STRAX is ranked the 290th cryptocurrency globally and the current price is US$1.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its rally in H1 2021, STRAX has been in a massive range between approximately $2.50 and $1.20. Long upper wicks during the second half of 2021 show distribution, while the daily chart shows a bearish trend since January.

The price is currently around the 79.6% retracement, near $1.30. This level has seen interest from bulls since July 2021. It might provide support again for a short-term bounce.

The closest resistance may be at $1.42, near the 9, 18 and 40 EMAs. If the price breaks this level, bulls might target the old swing high near $1.59, another old swing high and inefficiently traded area near $1.72, and the consolidation around $1.80.

However, repeated tests of a level, plus the higher-timeframe downtrend, may cause an eventual breakdown of the current support near $1.20. If this occurs, old swing lows near $1.12 – particularly an inefficient region starting near $0.9877 – may be the bearish target and the subsequent support.

3. 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. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.

COTI Price Analysis

At the time of writing, COTI is ranked the 180th cryptocurrency globally and the current price is US$0.2896. Let’s take a look at the chart below for price analysis:

Source: TradingView

COTI‘s rally during H2 2021 broke down in early November and has since been in a bearish trend on the daily chart. The price recently swept lows below a contested area at $0.1952, which prompted a rally during the last week into resistance at the 40 EMA near $0.2988. 

It remains to be seen whether this contested area from $0.2603 to $0.2252 can support a retest.

Unless the overall market turns bullish, a bearish continuation to possible support near $0.2165 – just under the 79.6% retracement level – seems likely. This area has sparked multiple consolidations.

A break of this level might continue to possible support near $0.1599, where the H2 2021 rally began accumulating before its run.

If the market continues its rally, breaking through resistance near the 2021 yearly open, the macro range highs near $0.3913 might provide the next resistance.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

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Crypto News Ethereum NFTs Polygon Rarible Tezos

Rarible Adds Polygon to Newly Released Wallet Housing All Your NFTs

NFT marketplace Rarible has been quite busy in the past couple of months and has now announced the addition of Polygon NFTs as well as multi-wallet support. Polygon joins Ethereum, Flow and Tezos as part of the platform’s vision for multi-chain commerce.

Tezos joined Rarible in December and was integrated with Flow in November. Rarible’s biggest competitor and marketleader, OpenSea, supports Ethereum, Polygon and Klatyn, and added Polygon-based NFTs in October.

Polygon is a sidechain scaling solution for Ethereum that enables faster and cheaper transactions than the Ethereum mainnet. Unlike Ethereum, which uses energy-intensive proof-of-work, Polygon relies on the eco-friendlier proof-of-stake consensus model that remains backed by the security offered by Ethereum.

Rarible Aims to Clear ‘Roadblocks’

As Rarible’s co-founder Alexei Falin said, “We have enjoyed watching the NFT market grow rapidly throughout the past two years but acknowledge that there are certain roadblocks that exist within the space, including high gas fees and ecosystem limitations. As a top NFT protocol and marketplace we have a responsibility to solve issues related to NFT creation and consumption, which is at the core of our multi-chain vision.”

Rarible Rolls Out ‘Multi-Wallet’

The marketplace has also launched a multi-wallet profile feature on Rarible.com that lets users sign in with up to 20 wallets at a time across different blockchains. By doing so, users with multiple wallets across various supported ecosystems won’t have to constantly sign in and out when buying and selling NFTs on the platform.

Falin has said, “We have seen firsthand how inconvenient it is to log in and out of wallets that hold collectibles spanning blockchains. To streamline this process for our users, the multi-wallet profile can support collections across any Rarible-supported blockchain in one place, so you can access items with one simple click.”

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Binance Coin Crypto News Market Analysis Ripple Tezos Trading

Top 3 Coins to Watch Today: XRP, BNB, XTZ – February 11 Trading Analysis

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. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and not based on a blockchain, but rather the previously mentioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 6th cryptocurrency globally and the current price is US$0.8682. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP printed some gains during last week before moving sideways for the rest of the month.

The price was in a downtrend, with the 9, 18 and 40 EMAs providing resistance on each attempt to rally. However, bulls are showing some interest at the 70.6% retracement, near $0.8372. If this level breaks, a move into possible support – just below the lows near $0.7552 – seems likely.

If the price does rally through the swing high at $0.9260 – perhaps triggered by a sudden surge in Bitcoin – bulls might find some resistance at the 61.8% retracement level near $0.9950. 

Overlapping swing highs and lows near $1.084 might provide the next target, where bears immediately forced the price down in late December.

More bullish market conditions could shift targets up near the midpoint of Q3’s consolidation, near $1.17, where higher timeframes show an inefficiently traded zone.

2. Binance Coin (BNB)

Binance BNB is the biggest cryptocurrency exchange globally, based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of world financial activity. Aside from being the largest cryptocurrency exchange, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.

BNB Price Analysis

At the time of writing, BNB is ranked the 4th cryptocurrency globally and the current price is US$430.12. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 30% decline during January, BNB has ranged between $370 and $445.

The recent price recovery was approaching probable resistance near $439, but could be aiming for stops above the relatively equal highs near $455. Continuation of the trend could target the daily gap near $476.

Aggressive bulls might add to positions near $422 and $417. Price action near $410 may be more likely to provide support – if it gets there – during any retracements.

Relatively equal lows clustered around $400 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $385.

3. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 44th cryptocurrency globally and the current price is US$4.36. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 59% drop since late December saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near $4.45 is providing some resistance. However, continuation through the monthly high at $4.60 is not out of the question. Aggressive bulls might bid in the current region near $4.88. 

If the price runs the recent swing low, bulls might bid in the gap near $4.23. A deeper retracement could reach near the mid-December level and a gap near $4.05. The region near $3.89 and $3.70 may also provide some support during a deeper retracement.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

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Crypto News Sports Tezos

Manchester United to Partner with Tezos for $27 Million Per Year Sponsorship Deal

English Premier League football club Manchester United is expected to announce a promotions partnership with blockchain platform Tezos. According to sports news website theathletic.com, the deal is worth US$27 million annually and will place Tezos front and centre on United’s training kit.

Tezos Replaces Aon as Man United’s Training Sponsor

Tezos is said to have agreed to a multi-year contract with Manchester United. While an official announcement is pending, Man U has reportedly been filming promotional material at its training centre.

https://madaboutepl.net/2020/10/team-news-and-predicted-manchester-united-lineup-vs-psg/
Manchester United players celebrate a goal. Source: Mad About EPL

This comes as American insurance company Aon’s eight-year contract with the club concludes. United has been without a training kit sponsor for the current season, following the collapse of negotiations with The Hut Group. The Manchester-based company withdrew its interest over concerns regarding potential fan boycotts of United’s commercial partners as part of a protest against the club’s ownership by the Glazer family, who have placed it in considerable debt since taking over in 2005.

United has been in discussion with several other companies, including others in the blockchain field, for the sponsorship deal. However, it is expected the Tezos announcement will be finalised in coming weeks. Manchester United and Tezos have declined to comment on the deal.

Crypto Extends Its Reach in Sports Sponsorship

Tezos is not new to sports sponsorships. Notably, it became the first blockchain sponsor of the New York Mets baseball team in May 2021 and is in partnership with Red Bull Racing to develop an NFT experience for the team. The company has also joined the line-up of sponsors for McLaren Racing across IndyCar, Formula 1 and esports.

However, Tezos isn’t the only blockchain making sponsorship moves in the sporting world. In August 2021, meme cryptocurrency Dogecoin entered a partnership with Watford FC (another popular EPL club). This million-dollar agreement saw Watford players wear the Dogecoin logo for the remainder of the season.

Coinbase has also become an official sponsor of the NBA and is looking to break into other professional basketball leagues including the WNBA and the NBA 2K league.

Additionally, Dutch football club PSV Eindhoven entered a deal in August 2021 with Anycoin Direct to be paid entirely in bitcoin, helping to promote cryptocurrency adoption throughout Europe.

By Lauren Claxton, Crypto News Guest Author

Categories
Blockchain Crypto News E-commerce Fashion NFTs Tezos

Clothing Retailer The Gap Launches Tezos-Based Gamified NFT Collection

Gap Inc is collaborating with Brandon Sines, the artist behind Frank Ape, to launch a non-fungible token (NFT) collection on the Tezos blockchain with a gamified digital experience called Gap Threads.

This week’s release will offer a gamified digital experience in which customers can unlock the opportunity to buy digital art by Sines and a physical, limited-edition Gap hoodie. The digital collectibles for Gap Threads feature four levels: Common, Rare, Epic, and One of a Kind. The first level, Common, went on sale at 9am PT on January 13 for a reasonable price of 2 Tez (XTZ) each until 8:59 PT on January 15.

Additional drops will be available over the next two weeks: Rare on January 15 for six XTZ, Epic on January 19 for 100 XTZ, and One of a Kind will go to auction on January 24. At the time of writing, two Tez were worth US$8.30, but exact conversion rates may vary based on market price fluctuations.

Why Tezos?

As part of Gap’s commitment to do the right thing for the planet, it has chosen to leverage Tezos, an open-source blockchain, to create the customer experience. Tezos requires less energy and cost to operate than proof-of-work algorithms, thus making it an ideal platform for sustainable uses. The platform has recently been involved in collections from other consumer-facing brands, including Red Bull.

Gap intends to learn more about how customers want to engage in a digitally focused environment and has flagged additional digital experiences in the future, developed in partnership with cultural influences.

According to Gap’s chief digital and technology officer John Strain, “As part of our mission to create enduring customer relationships, our teams are constantly innovating. We are excited about the possibilities that a more planet-friendly blockchain technology can unlock for us and all the new ways it will enable us to connect with our customers.” 

The Future of Clothing is Here

NFTs are the perfect fit for the fashion industry, which is obsessed with authenticity and exclusivity. Chris Le, co-founder of RTFKT, has said that augmented reality will be a huge part of society in the future and that “you’re going to be walking out on the street and seeing NFT clothing on people”. RTFKT sold about 600 pairs of digital sneakers for US$3.1 million in just seven minutes last February at the inaugural Crypto Fashion Week.

Not everyone shares this view and many believe technology still needs more time before the big luxury brands dive in, according to RTFKT Studios co-founder Benoit Pagotto. If you also believe that the fashion industry is not quite there yet, and think the NFT market is overheated, you can short it.

Categories
Crypto News Market Analysis Tezos Trading

Top 3 Coins to Watch Today: FTM, XTZ, RVN – January 3 Trading Analysis

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. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 29th cryptocurrency globally and the current price is US$2.49. Let’s take a look at the chart below for price analysis:

Source: TradingView

During early November, FTM broke several swing highs that could be the signal for a new bullish trend.

Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near $2.23 and may target the swing low and possible support near $2.10.

The swing low and possible support near $2.00 could be the second bearish target if the move down continues. The relatively equal lows near $1.95 and possible support underneath near $1.89 could provide more substantial support.

The last swing high near $2.55 gives a near-term target if bullish continuation continues. However, resistance beginning around $2.62 could cap this move. A break of this resistance might continue to probable resistance near $2.73 and reach above the cluster of relatively equal new monthly highs near $2.85 and $2.93.

2. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 44th cryptocurrency globally and the current price is US$4.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 82% drop since late November saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near $4.89 is providing some resistance. However, continuation through the monthly high at $5.19 is not out of the question. Aggressive bulls might bid in the current region near $4.88. 

If the price runs the recent swing low, bulls might bid in the gap near $4.60. A deeper retracement could reach near the mid-December level and a gap near $4.54. The region near $4.49 and $4.42 may also provide some support during a deeper retracement.

3. Ravencoin (RVN)

Ravencoin RVN is a digital peer-to-peer (P2P) network that aims to implement a use case-specific blockchain designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin aims to solve the problem of assets transfer and trading over the blockchain. Previously, if someone created an asset on the Bitcoin blockchain, it could be accidentally destroyed when someone traded the coins it was created with. RVN coins are designed as internal currency within the network and must be burnt in order to issue token assets on the Ravenchain.

RVN Price Analysis

At the time of writing, RVN is ranked the 92nd cryptocurrency globally and the current price is US$0.1035. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the November high, RVN‘s 75% drop marks the current range as a reasonable area to expect accumulation.

The recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $0.09345 and $0.09038 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Last year’s long-term consolidation suggests that the areas near $0.1346 and $0.1478 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $0.1152, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $0.1295, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $0.1326 might provide a ceiling for this impulse.

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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.

Categories
Blockchain Markets NFTs Tezos

Rarible Integrates with Tezos to Launch Own NFT Collection

Expansive non-fungible token (NFT) marketplace Rarible has announced its intention to integrate the Tezos proof-of-stake blockchain to help with reducing the gas costs of minting, buying and selling NFTs, along with supporting secondary sales of other live Tezos projects.

The Cross-Chain Future of NFTs

On December 15, Tezos became the third blockchain to be supported by the Rarible multichain marketplace, joining the ranks of Flow and Ethereum. The marketplace is still in the process of onboarding many more chains in order to expand the collections their users can access. According to Rarible CEO and co-founder Alexei Falin, integrations with Solana and Polygon are up next.

Rarible firmly believes that the future of NFTs is cross-chain, and that interoperability is the key to a streamlined, successful NFT ecosystem. We have seen many alternative blockchains gain traction in the NFT space for their unique offerings, specifically Tezos for its low costs and energy-efficient minting process through proof-of-stake validation.

Rarible CEO Alexei Falin

Partnership About More Than Just Reduced Gas Fees

The partnership brings more than reduced gas fees to the table. To celebrate the partnership, Rarible will host an exclusive Tezos community drop titled ‘Blazing Futures’. Curated by Diane Drubay, it will offer 10 interpretations of the future of art, society and crypto.

Also coming to Rarible thanks to the Tezos blockchain is its latest offering Digits, in partnership with French gaming studio Ubisoft. The latter has just launched Ubisoft Quartz, a platform for players to acquire Digits, the first NFTs playable in AAA games, starting with Tom Clancy’s Ghost Recon: Breakpoint.

Digits are released as part of limited editions, each representing a host of in-game items. However, the gaming community isn’t as excited about Digits as the NFT community might be. Rarible will immediately support secondary sales for Digits, meaning that players that missed the drop can still acquire those playable NFTs.

Phase Two of the Integration

Phase one, which is already live, enables you to mint, buy and sell NFTs as part of the Rarible collection and trade the Ubisoft Digits NFTs.

Phase two, to be released shortly, will introduce additional features, namely the ability to mint your own collection via custom contracts and add royalties to imported collections such as Tezzards, Gemz and other exciting projects that have emerged on Tezos over the past couple of months.