Trending Projects Archives

27th August 2023

BONE Coin Surges 11% On Weekly Chart Amid Crypto Turbulence – What’s Next?

In the aftermath of the crypto market sell-off, BONE/USD currently trades at $1.31 in the last 24 hours, with a trading volume of $8.8 billion. This marks an over 11% price increase in the last seven days. If the Bone Shiba swap continues following the current market trends, the coin will soon hike to 20% next week.

A significant recent event that has piqued the interest of investors and enthusiasts is the relaunch of Shibarium, the decentralized exchange tied to BONEUSD. This relaunch has breathed new life into the BONE ecosystem, contributing to a surge in transaction volumes and a positive trajectory in its price. This development underscores the importance of ecosystem expansion and community engagement in driving cryptocurrency value.

Technical Analysis: Decoding The Trends

In the case of BONEUSD, most technical indicators are bullish on BONEUSD; the 50-day moving average (MA) is pivotal in assessing the mid-term trend. Currently trading above this MA, BONEUSD indicates positive momentum. Notably, the short-term 20-day MA has crossed over the 50-day MA, a potential harbinger of a bullish trend.

BONEUSD chart

The Relative Strength Index (RSI) hovers around 46.63 in the neutral zone, signaling that the market can go either way. RSI values exceeding 70 imply overbought conditions, while those below 30 suggest oversold conditions. The current RSI level indicates a balanced market sentiment. The Moving Average Convergence Divergence (MACD) histogram is in positive territory, hinting at the potential continuation of an upward trajectory. The signal line positioning above the MACD line also bolsters the case for potential price gains.

Drawing insights from technical indicators and recent market performance, BONEUSD is poised in a promising position. The alignment of moving averages points to a possible bullish trend, while the RSI reinforces a balanced sentiment.

The positive MACD histogram amplifies the argument for potential price appreciation. This convergence of indicators underscores the optimistic prospects for BONEUSD. Immediate support for BONEUSD is discernible at $1.13 and $1.070, while resistance levels are present at $2.06 and $1.7640. These markers serve as indispensable guides for traders aiming to optimize their entry and exit points, enhancing their potential gains.

The Ecosystem And Community Factor: Catalysts For Growth

BONEUSD’s recent surge in transaction volumes and the Shibarium relaunch engender confidence in the coin’s momentum. Moreover, the strong involvement of the Shiba Inu community and the increasing trend of meme-inspired tokens like BONE have the potential to breathe new life into its upward momentum. It’s important to consider the impact of community excitement and advancements in the ecosystem, as these factors can significantly shape the path of a cryptocurrency’s progression.

It’s essential to remember the crypto market is notorious for its volatility. Despite favorable indicators and promising developments, external factors can substantially influence prices. As with any investment, conducting thorough research before making any financial commitments is always advisable.

In conclusion, Bone ShibaSwap (BONEUSD) has recently exhibited positive price movements, buoyed by encouraging technical indicators and heightened transaction volumes. While historical performance doesn’t guarantee future results, the prevailing market sentiment and community engagement could contribute to BONEUSD’s continued upswing in the near term.

14th August 2023

HBAR Token Spikes 16% In One Day, Can Bulls Sustain the Momentum?

HBAR has soared with momentum after the US Federal Reserve adopted the Hedera Hashgraph-based Dropp micropayments platform. According to the announcement, Dropp is now on the list of service providers on Fed’s FedNow instant payment system.

Following this news, HBAR’s market sentiment improved, causing a rapid price surge that propelled the token from $ 0.0561 to $0.06544. This represents an over 16% increase in the last 24 hours. However, HBAR price has crossed the overbought region, raising questions about how long the current rally can last.

FedNow Adds Hedera Hashgraph-Powered Dropp To Its List Of Service Providers

On July 20, the US Federal Reserve launched the FedNow instant payment system. This payment system allows banks and credit unions to transfer money for customers any time, any day, instantly.

However, according to the latest development, FedNow adopted Dropp, a micropayment platform built on Hedera as a service provider. Dropp allows users to use micropayments for small-valued transactions in USD Coin (USDC), HBAR, and US dollars.

Adopting Dropp as a FedNow service provider implies that banks and other financial service providers can use the micropayment platform for real-time payments. This feat marks a milestone for Hedera as FedNow indirectly supports the token, granting the Hedera blockchain support from traditional finance companies.

Similarly, Hedera is already benefiting from this partnership as its price has increased by over 16% in the last 24 hours. Also, Hedera garnered massive investor attention in the past week due to increased partnerships, such as South Korean automobile companies Kia and Hyundai, which have adopted Hedera’s infrastructure to track vehicle carbon emissions.

HBARUSD price chart

HBAR Price Outlook; How Long Can The Bulls Hold?

HBAR soared over 16% within a few hours after the FedNow support announcement. That brought the token’s seven-day price increase to nearly 17%.

In addition, HBAR’s valuation is now 25% higher than its price 30 days ago. HBAR trades at $0.065, with a day high of $0.06625 and a low of $0.05046.

One remarkable thing about HBAR’s performance is the massive surge in trading volume, which signifies increased network activity and investor interest. As of the time of writing, HBAR has recorded an over 1,219% surge in 24-hour trading volume, after securing its position as the highest-gaining cryptocurrency today.

According to the daily chart, HBAR trades above two key support levels at $0.063035 and $0.06005. Moreover, the bulls have formed green bars above the support levels as they vie to push HBAR to higher highs.

The Relative Strength Index is at 72. But while this signifies increased buying pressure, the sideways movement of the RSI graph suggests a weakening trend. So HBAR buyers have reached saturation and are probably about to lose momentum.

Additionally, the faded green histogram bars show the buying demand for HBAR tokens has dwindled slightly. If this continues, the HBAR rally could stall, allowing the bears to push prices downward.

7th August 2023

XDC Brushes Off Market Downtrends, Records Over 16% Surge As Top Coins Bleed

The crypto market has been downward over the past 24 hours, with top coins like Bitcoin dancing in tune with the bearish trend. But while top coins lost the past week’s gains, XDC Network holds over 16% of its gains.

XDC now trades at $0.068, a price 16.75% higher than its value seven days ago. However, despite the token’s resilience, the bulls are about to capitulate, with nearly 4% lost in the last 24 hours.

XDC Network Price Performance In The Last Week

XDC’s market situation today is similar to a water lily, with roots buried in the water while shooting out flourishing leaves above, looking for more opportunities to rally. XDC’s partial bullish momentum sustains the token’s weekly gains, while others have completely succumbed to bearish pressure.

XDC’s current price is still over 126% higher than its value 30 days ago, suggesting the bulls are still determined to withstand the fluctuations. The slight 0.55% decline in its 24-hour trading volume confirmed this assumption.

XDCUSD price chart

XDC Social Sentiment Bullish As Community Awaits Upcoming Ecosystem Events

Anticipation for the ETHToronto Hackathon slated to hold from August 15-16, 2023, remains high, with the XDC community at the center. According to an August 4 announcement by the XinFin Network, the XDC Network is the official Tera Byte sponsor of this event.

This event provides an incredible opportunity for blockchain and crypto enthusiasts to connect, collaborate, and explore the future of blockchain technology. The anticipation has increased XDC’s social sentiment as several people are already trying to purchase the token. Moreover, the event could also increase XDC’s exposure, potentially increasing its usability, user base, and trading volume.

In another announcement, the XinFin Network announced that the XDC Foundation will be the platinum sponsor of the Trade Finance Investor Day 2023. The event, organized by the Trade Finance Distribution Initiative (TFDi), will hold on October 19-20 at the five-star Grove Golf and Country Club, Hertfordshire, UK. The initiative aims to help many investors access trade assets at the lowest possible cost.

At the event, XinFin USA, the company behind the XDC Network, will showcase the benefits of the XDC Network to banks, secondary market investors, and industry experts.

These collaborative efforts are boosting the network’s market presence, reflected in the token’s price performance over the past week.

XDC Market Outlook; What’s Next?

Meanwhile, the bears are active in XDC’s market today, actively trying to push the token off the $0.07 price level. The daily chart shows the Moving Average Convergence/Divergence is below the signal line, with red candlesticks. Also, the RSI is at 45, approaching the oversold area.

XDC now approaches the $0.6 support zone, a point that might empower the bears for more downtrends. XDC could dip lower in the next few hours if the bulls fail to regain momentum.

The token reached a day peak of $0.08028 on August 6 before gradually receding to the bears. As of the time of writing, the token has slipped off its peak and now trades at a low of $0.06872.