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Top Altcoin To Watch This Week

Albert Brown
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Top Altcoin To Watch This Week

We are currently going through the biggest bullish cycle of crypto history in terms of time compared to previous cycles.

Let’s take a look at the most promising altcoins for this week. These altcoins are part of the third generation of cryptocurrencies, where Bitcoin belongs to the first generation and Ethereum is from the second generation.

Solana (SOL)

Solana has a platform similar to Ethereum, which allows the developers to make Decentralized Applications (Dapps), NFTs, Games, and more on its platform.

Launched in March 2020, Solana uses Proof of History (PoH) as a consensus protocol, differentiating it from Proof of Stake (PoS) as ETH 2.0 or Proof of Work (PoW) which is used in Bitcoin.

Earlier this year, SOL was trading at approximately $3.5, reaching today $255 dollars, an increase of %7185 in less than a year.

One of the most assuring things about Solana is that a famous Star Atlas, an NFT virtual game metaverse will be built inside Solana, the game will be released in 2022, which may have an unimaginable influence on SOL’s price for the coming months.

Despite being very new in the market, SOL still has a lot to build and improve, but Solana has undoubtedly a magnificent future ahead.

SOL Analysis:

sol analysis

Trade setup: Break above $250 resistance. Upside to $275-300.

Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Bullish: ( MACD Line is above MACD Signal Line and RSI is above 55).

OBV (On-Balance Volume): is rising, indicating that volume on Up days is greater than the volume on Down days. Hence, demand (buyers) exceeds supply (sellers).

Support and Resistance: Nearest Support Zone is $220, then $150. The nearest Resistance Zone is $250, $275, and then $300.

Polkadot (DOT)

Polkadot has individual blockchains that are called parachains (parallel blockchains) and the main blockchain that is called Relay Chain, with the objective of exchanging information with exceptional ease and thus being able to develop more powerful services and applications.

Launched in 2020, the consensus system used in DOT is the NPoS (Nominated Proof of Stake), similar in many respects to the PoS (Proof of Stake), a mechanism used by cryptos such as Cardano.

Earlier this year, the DOT cryptocurrency was trading for around $10, now in November, just a few months after it reached the value of $56, a 460% increase in less than a year, today it ranks as 8th most valuable crypto with a market capitalization of $49 billion.

DOT Analysis:

dot analysis

Trade setup: Bullish Breakout from a Rising Wedge pattern and above $50 resistance. Upside potential to $60. The recent move was sparked by the announcement of para-chain auctions.

Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Bullish: ( MACD Line is above MACD Signal Line and RSI is above 55).

OBV (On-Balance Volume): is rising, indicating that volume on Up days is greater than the volume on Down days. Hence, demand (buyers) exceeds supply (sellers).

Support and Resistance: Nearest Support Zone is $40, then $35. The nearest resistance is $50, which it broke, the other resistance is $59 to $60.

Cardano (ADA)

Cardano platform is based on smart contracts and allows the development of dApps (decentralized applications).

Launched in 2017 by Charles Hoskinson, co-founder of Ethereum and BitShares, the cryptocurrency uses PoS (Proof of Stake) as a consensus protocol, a term that means proof of participation.

After launch, ADA cost almost $0.02 cents and reached $0.6 cents in December at the end of 2017, but its highest price was in January 2018, reaching $1.32 dollars.

This year in January, ADA was trading at $0.35 and went to $3 in September, which is an increase by almost 1000% in just 9 months, reaching a market capitalization of approximately $95 billion. Today, Cardano (ADA) is trading at about $2 and is ranked 6th most valuable coin.

Many are betting on Cardano, and for sure, once dapps started to run on Cardano, it will have a much higher valuation, it is a genuine project to have in the portfolio for the long term.

ADA Analysis:

ada analysis

Trade setup: Trends are mixed. 200-day MA ($1.70) could act as a dynamic support area. Needs to break back above $2.50 to resume clear Uptrend.

Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.

Momentum is Neutral: MACD Line is below MACD Signal Line, and RSI is below 45, but a long consolidation is proving that a large upward move is coming as the market is trading bullish.

OBV (On-Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium

Support and Resistance: Nearest Support Zone is $2.00, and $1.80. The nearest Resistance Zone is $2.30, $2.50, then $3.00.

 

Crypto Whale Buys 20 Trillion Shiba Inu Tokens for $1.13 Billion

Mark Brennan
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Crypto Whale Buys 20 Trillion Shiba Inu Tokens for $1.13 Billion

On Sunday, Nov. 7, a block registered on Etherscan shows a single transaction for 20,000,000,000,000 – that’s trillion with a “T” – Shiba Inu tokens for more than $1.13 billion in the U.S. The purchase originated at crypto.com per the screen image below.


whale buying shib token

It’s not clear what the impact such a massive move could have on the Shiba market. According to CoinMarketCap.com at the time of this writing, the price per token was down 1.5 percent over the last 24-hour period, suggesting a virtual neutral impact for now.

However, since Shiba’s valuation is primarily driven by the sentiment of its active community rather than fundamentals or technical analysis – as is the case for most meme-type coins – this billion-dollar buy could be perceived as a positive signal for those on the sidelines to join the Shiba pack. Conversely, this deal could have negative fallout as it might be part of larger market manipulation.

 

It’s no surprise that the Shiba Inu project has an extremely high concentration of its circulation supply – nearly 66 percent – currently in the custody of 10, possibly fewer, holders. Such highly centralized ownership is a significant red flag for most crypto investors since whales can coordinate the buying and selling of the meme asset at their whim. Such whipsaw valuations tend to liquidate both long and short retail traders using margin, while whales make gains.

Regardless, those risks don’t seem to be hindering Shiba’s support or positive sentiment. A petition started in May of this year on Change.org to persuade digital asset trading app Robinhood to begin listing Shiba, secured more than 500,000 signatures as of Sunday, Nov. 7 – which was the halfway point of its 1,000,000 signature goal. 

BitForex Launches Galaxy Heroes Coin (GHC) at 17:00 on November 12th, 2021 (GMT+8)

Mark Brennan
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BitForex Launches Galaxy Heroes Coin (GHC) at 17:00 on November 12th, 2021 (GMT+8)

We are delighted to announce the listing of Galaxy Heroes Coin (GHC) on BitForex. The details are listed below – Happy trading!

Listing Time:

  • GHC deposit will open on 2021/11/11 17:00 (GMT+8)
  • GHC/USDT trading will open on 2021/11/12 17:00 (GMT+8)
  • GHC withdrawal will open on 2021/11/12 17:00 (GMT+8)

Token Info:

Galaxy Heroes Coin (GHC) is a community driven bsc coin. If you’re interested in super heroes, you will love Galaxy Heroes Coin. Roadmap has Galaxy NFTs and staking platforms shortly after launch. The developer is 100% doxxed and plans to give back to his community with members that have been rugged. That is why he is dedicating a certain percent from NFT sales back to his community.

Risk Warning: Cryptocurrency trading involves significant risk and may cost your invested capital lost. Please make sure that you fully understand the risk involved and take it into consideration your level of experience, investment objectives, and seek independent financial advice if necessary.

 

Newly Elected NYC Mayor, Eric Adams Says New York City Schools Should Teach Crypto

Mark Brennan
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Newly Elected NYC Mayor, Eric Adams Says New York City Schools Should Teach Crypto

Eric Adams, elected as mayor of New York last Tuesday says that New York City schools should teach about crypto and blockchain technology.\



His remarks came in an interview with CNN when Adams was asked what was his motivation to receive his salary in Bitcoin.

He said:

“And that’s what we need to do: open our schools to teach technology and teach this new way of thinking.”

The 61-year-old politician has advocated for increased awareness of cryptocurrencies among young people.

The newly elected mayor also said he would consider encouraging businesses to accept Bitcoin.

Adams, however, added that the city will not rush for any such move:

“We will review it and we will proceed cautiously. We are going to get it right.”

 

The newly elected New York Mayor said on Twitter earlier this week that he would receive his first three paychecks in Bitcoin.

Adams stated in his election campaign that he’d take the city back to the pre-Covid era and transform it into a technological and crypto-related center.

During his campaign, he promised to make New York a center of bitcoin.

Reddit Will Convert “karma Points” Into ERC-20 tokens

Mark Brennan
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Reddit Will Convert “karma Points” Into ERC-20 tokens

The popular Internet forum Reddit plans to convert users’ karma points into ERC-20 tokens. The management also hopes to attract 500 million cryptocurrency users.



A series of tweets made by Reddit engineer, Rahul, highlights Reddit’s efforts to improve user interaction through various cryptocurrency initiatives.

 

Previously, Reddit has already used the Arbitrum solution to scale the community token system, but now Reddit is planning to transfer karma points into tokens. According to the website:

“Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin (BTC) !).”

 

Reddit’s partnership with Off-chain Labs’ Arbitrum network will allow for the creation of a separate blockchain instance, to be used for storing users’ tokenized community points.

Currently, the community points of roughly 80,000 users from two subreddits — r/cryptocurrency and r/FortNiteBR — have been moved to the Rinkeby Testnet on the Arbitrum network, which, according to Rahul, will be scaled for gasless transactions:

Moreover, Reddit communities will also have the ability to fork blockchains through community-based decisions, in addition to allowing the scope to explore new monetization strategies with Web 3.0.

“When we all pull this off, we would onboard 500M web2 users into web3 and then there is no going back. Let me say that again – 500 million new crypto users.”

Reddit has been home to a number of community-driven crypto initiatives including Dogecoin (DOGE) fundraisers and continues to cater to a vast crypto community.

In addition to the community token system and karma points tokenization, Reddit is developing its own Non-Fungibile Token (NFT) platform. The platform will help forum users display their creative skills and earn money from content creation.

Shiba Inu Twitter Followers Are Now More Than Ethereum

Mark Brennan
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Shiba Inu Twitter Followers Are Now More Than Ethereum

Shiba Inu has beaten Ethereum in terms of the number of followers on Twitter.

Read: Thanks To Coinbase, New York Residents Can Now Trade Shiba Inu



The official Twitter account of Shib has attracted 1.8 million people following it.

In comparison, the official Twitter account of the Ethereum platform has 1.7 million followers.

After posting massive gains during the second quarter of 2021, the SHIB Token saw an increase in popularity over the last month thanks to the price hike of 800%.

SHIB community managed to produce more than 1 million tweets on the day it knocked Dogecoin in terms of market capitalization.

Read: Toronto-Based Online Broker Wealthsimple Added Support For Shiba Inu

 

The official Shiba Inu Reddit community consists of 415,000 members, which is approximately three times as big as a subreddit devoted to the Japanese breed of dogs of the same name.

 

But Shib is still far from having the largest followers on Twitter. SHIB rival Dogecoin has 2.4 million followers while Bitcoin official Twitter account has an impressive 3.6 million users.

Read: SHIB Is Available For Trading On Chicago-Based Online Brokerage Platform

Main Reasons Why JPMorgan Believe Ethereum Will Outperform Bitcoin

Albert Brown
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Main Reasons Why JPMorgan Believe Ethereum Will Outperform Bitcoin

JPMorgan believes that Ethereum will continue to outperform Bitcoin.



US giant bank JPMorgan has laid out the primary reasons why Ethereum is superior to Bitcoin.

JP Morgan Analyst Nikolaos Panigirtzoglou says that the second-largest blockchain is leading the way in decentralized finance (Defi). According to the data from DeFiPulse, the total value locked in Ethereum-based DeFi projects is now over $106 billion.

Coupled with non-fungible tokens and stable coins Ether has more uses cases than BTC.

Panigirtzoglou says that Bitcoin is an insurance against inflation and has benefited from the low-interest rates environment that reveals the dangers of the banking system. But, now that central banks are beginning to cut their support, Bitcoin may be affected like gold due to the rising yields on bonds:

“The rise in bond yields and the eventual normalization of monetary policy is putting downward pressure on bitcoin as a form of digital gold, the same way higher real yields have been putting downward pressure on traditional gold.

With Ethereum deriving its value from its applications, ranging from DeFi to gaming to NFTs and stable coins, it appears less susceptible than bitcoin to higher real yields.”

 

Ether according to Panigirtzoglou’s is not as susceptible to environmental issues due to its next upcoming proof of stake (PoS) mechanism.

“The greater focus by investors on [environmental, social and governance investing] has shifted attention away from the energy-intensive bitcoin blockchain to the Ethereum blockchain,”

The US bank believes that the two major cryptocurrencies are trading over their fair values. JPMorgan Says Bitcoin Fair Price Is $35,000

HODL CROP, farm different tokens. Get FarmerDOGE on Coinstore!

Mark Brennan
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HODL CROP, farm different tokens. Get FarmerDOGE on Coinstore!

First BSC token to reward holders with other tokens!

FarmerDoge ($CROP), the latest spin-off from the DOGE family on Binance Smart Chain (BSC) has a unique business proposition. By holding CROP, hodlers will be rewarded with dividends in the form of other BSC tokens! With a 10% token tax on all trading volume that will be channelled to reward their community, FarmerDoge holders will be able to receive other tokens, without swapping, staking, or lending – simply just by holding CROP.

Special mechanism in FarmerDoge smart contract

Rather than ‘reflections’ or ‘redistributions’ of tokens that are currently utilised by other projects, this special mechanism in the smart contract takes a 10% tax from any trade and swaps it to rewards in the form of other BSC tokens. Distribution of the tax rewards are according to $CROP holder’s ownership of the supply percentage. Example: A hodler that possesses 10% of the current circulating supply, will get allocation of 10% of the tax rewards at the moment of trade finalisation. Rewards are automatically credited during both buy/sell transactions, therefore users do not have to worry about trading balances.

“We are Farmer Doge, and we are the crypto set out to help feed the world. We want to get hands on and be there at the front lines fighting hunger. We will change the way people view crypto as a whole. To be able to bring communities together and find a way to help one another, rather than fight amongst each other trying to be the best project.”

– Quest, FarmerDoge CEO

A project with an altruistic outlook on the token economy

By studying the tokenomics and token proposal submitted to Coinstore, it was clear that $CROP is a project that works for the heart of the crypto-ecosystem itself. By teaming up with several partnerships and projects on BSC, the FarmerDoge team is ready to rollout a series of BSC-tokens as rewards and these tokens will be announced soon.

CROP Token Overview

Total Supply: 10,000,000,000

Market Cap: 3M USDT

Transaction Tax: 15% (10% rewards, 3% operations wallet, 2% liquidity pool)

Blockchain: Binance Smart Chain

Launch Date: 20 August 2021 (PancakeSwap)

Coinstore Listing: 8 November 2021, 18:00 (UTC+8)

Holding FarmerDoge’s $CROP

By holding CROP, users can receive tax rewards from trades of CROP and receive other tokens. This impressive differentiating factor is certainly unique compared to other tokens. Do note that users can receive the rewards in 2 ways:

  1. Activate the release (gas fees) by purchasing $CROP or;
  2. Wait for sell volume to increase and unlock rewards that have been building up

Without buying and selling multiple tokens, FarmerDoge rewards their users with convenience and provides hodlers with more token options. This allows for a small diversification of the user portfolio and increases liquidity and health of several projects. Projects are kept alive by the line of liquidity. Reward tokens will be featured and cross-posted to Telegram to update the FarmerDoge community.

At the time of writing, each CROP token is valued at 0.00014~ USDT. With CROP’s unique token use-case and the increasing adoption rate of cryptocurrency globally, Coinstore is very pleased to have received FarmerDoge’s CROP listing request.

A Closer Look at CROP’s General Tokenomics

CROP’s total token supply is 10,000,000,000, with 15% distribution for every transaction

  • 62% tokens released in private sale (locked-in for 6 months)
  • 33% tokens allocated in FairLaunch
  • 5% tokens for dev wallet expenses

15% tax distribution for every CROP transaction. 10% of the tokens will be directed for rewards. 3% channelled towards operations, airdrops, and giveaways activities for the FarmerDoge community. Finally, 2% will be put towards liquidity in trading pools.

Freshly Listed on CMC and Coingecko

Check out CROP’s daily trading volume on:

CROP’s Upcoming Project Plans

Following on CROP’s listing on centralised exchanges, we are happy to announce that Farmer Doge will be listed on Coinstore Exchange on 8 November 2021, 18:00 (UTC+8). Partnerships with other projects and local communities are also underway to encourage growth for CROP. The FarmerDoge NFT marketplace and Swap are in development, which will be expected to launch in the fourth phase of CROP’s roadmap.

CROP Official Channels

Website: https://www.farmerdoge.net/

Telegram: https://t.me/FarmerDogeCrypto

Twitter: https://twitter.com/farmerdogebsc

Get $CROP on Coinstore: https://www.coinstore.com/#/spot/CROPUSDT

Download the Coinstore app: https://www.coinstore.com

About Coinstore

Coinstore’s goal is to advance the crypto industry to the next level and provide access to popular digital assets to the mainstream public. Encompassing a whole new concept of “fun” in finance, Coinstore plans to make digital assets available for everyone. Still in the early stages, Coinstore welcomes community members and interested influencer partners to collaborate in the up-and-coming stages.

Media Contact:

Charles Tan, Marketing Head, Coinstore

charles@coinstore.com

Liu Yi Yun, Branding Executive, Coinstore

yiyun@coinstore.com

Coinstore Social Media:

Twitter: https://twitter.com/coinstore_en

Telegram Discussion Group：https://t.me/coinstore_english

Telegram Announcement Channel：https://t.me/coinstore_global

Facebook: https://www.facebook.com/coinstoreglobal

Website: https://www.coinstore.com

Discord: https://discord.gg/KKHtHa4KPX

 

 

 

 

Institutional Platform Bakkt Added Support For Ethereum

Mark Brennan
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Institutional Platform Bakkt Added Support For Ethereum

Institutional platform Bakkt announced support for the second-largest cryptocurrency by capitalization, Ethereum.

Read: Chicago Mercantile Exchange (CME) Will Launch Ethereum Micro Futures In December


 

Bakkt writes:

“Now, in addition to bitcoin, partners can integrate with the Bakkt platform to enable their users to buy, sell and send Ethereum. Institutional clients can also choose the Bakkt Warehouse for custody of ether.”

Read: Goldman Sachs Says Ethereum Could Rise To $8000 By Year-End

Bakkt decided to add ETH because of the growing interest and adoption of cryptocurrencies. Recently conducted Bakkt’s study which included 2000 US citizens finds that almost half of the respondents have invested in one or another cryptocurrency over the past year.

Bakkt CEO Gavin Michael said:

“At Bakkt, providing flexible opportunities for users to enjoy their digital assets is a top consideration, and adding Ethereum brings a popular and growing cryptocurrency to our roster, Bakkt users have already enjoyed the app’s capabilities to leverage bitcoin and we are confident that our addition of Ethereum will be a complement to our growing ecosystem of partners and assets.”

Read: CryptoPunk #7557 Was Mistakenly Sold For 4.444 Ethereum Instead Of 444 ETH

In March 2021, the platform launched a mobile application that allows users to store, buy and sell bitcoin. The app is available on iOS and Android.

In June, Bakkt partnered with Sutton Bank to launch a Visa debit card. Later, its holders were able to spend bitcoins through Google Pay.

In August, the company announced a pilot project that allows the fast-food chain Quiznos to accept payments in the BTC.

On October 17, Bakkt announced the completion of its merger with SPAC VPC Impact Acquisition Holdings.

Thanks To Coinbase, New York Residents Can Now Trade Shiba Inu

Jakkk
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Thanks To Coinbase, New York Residents Can Now Trade Shiba Inu

SHIB is available for New York residents.



Coinbase, the USA’s top cryptocurrency exchange listed on Nasdaq, has made the cryptocurrency Shiba-inu accessible for New York residents, who are now able to trade, buy, sell or store SHIB on Coinbase.

Coinbase Says:

“It’s official, SHIB is now available to trade, buy, sell and store on Coinbase for NY residents.”

 

The announcement comes after the addition of the new SHIB trading pair.

Coinbase writes:

“SHIB-EUR & SHIB-GBP order books are now in full trading mode. Limit, market and stop orders are all now available.”

Recently SHIB became Available For Trading On Chicago-Based Online Brokerage Platform

SHIB adoption and popularity are not stopping, World’s Largest Theater Chain, AMC is also seriously thinking of adding SHIB as a payment method for movie tickets.

 

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