Tag Archives: price

UFO coin price prediction: Will Super Galactic boost the coin?

UFO coin price prediction: Will Super Galactic boost the coin?

UFO Gaming is a blockchain-based gaming platform with the goal of enabling players to earn in-game rewards and complete quests within the metaverse. Its play-to-earn game will offer a user-owned internet economy where in-game assets such as non-fungible tokens (NFT) can be easily purchased or sold.

Its upcoming game, Super Galactic, is set to launch at an unspecified date and will include an NFT marketplace where users can trade their characters, weapons, armour and other in-game items.

Each game will have its own governing planet which will host virtual land auctions where people can purchase a piece of a planet. Such pieces of land can then be used to build virtual infrastructure such as NFT stores, collection galleries and weapon stores.

UFO Gaming has stated that it is the first ever GameFi platform to sponsor an esports tournament – an event which was hosted by the Twitch streamers Apryze and Nokokopuffs with a $10,000 (£7,284) cash pool at stake.

What is the UFO coin?

UFO is the ERC-20-compatible token of the UFO Gaming platform that can be used to purchase in-game assets and complete transactions within the metaverse.

UFO token holders also possess voting rights through a decentralised autonomous organisation (DAO) governance model. When the game launches, users will need NFT characters, known as Origin UFOeps, in order to play Super Galactic.

The company said that only 10,000 of the first edition NFT characters, also known as Genesis NFTs, will be minted and available for players. In addition, players will be able to unlock certain features within the game by staking UFO gaming coins in order to earn plasma points.

Origin UFOeps NFTs can only be minted using plasma points that are generated through the Super Galactic decentralised application (dApp) staking feature. Users receive a share depending on their pool weight (the stake vs total amount staked), how long they lock it for and which specific pool they choose.

The UFO single stake pool holds 25% of the liquidity pool. Meanwhile the UFO-ETH pool holds 75% of the total pool. If a user opts for locked staking, they will earn up to two times more plasma points than if they were to choose flexible staking. It’s worth noting that plasma points will not be tradable on Uniswap or any other decentralised exchange (DEX).

UFO price analysis: Technical view

At the end of 2021, UFO Gaming announced that its 10k cup tournament would be streamed live on Twitch on 23 October 2021, leading the coin to jump from $0.00001027 on 24 October 2021 to $0.00003182 on 1 November.

The UFO price then consolidated, trading within the $0.00001 to $0.00002 range until 20 November 2021, when it climbed to $0.00003723.

The bullish momentum continued seeing the price rise further to $0.00004345 on 23 November 2021, leading the coin to achieve an all-time high of $0.00005486 a few days later on 25 November.

After a dip to $0.00003832 on 1 December 2021, UFO fell again to $0.0000206 on 6 December 2021 – wiping out almost half of its value in just five days. This is somewhat of a sharp drop considering that the coin had hit its all-time high just 11 days earlier.

The price action has since moved lower to sideways amid the wider slump in the cryptocurrency markets and the coin is currently (13 January) trading at around $0.000018 and would have to rise 232% from its current price to break its all-time high level again. UFO ranks 237th in the list of cryptocurrencies by market capitalisation at $464m, according to CoinMarketCap.

Technical analysis provided by CoinCodex shows that short-term sentiment on UFO coin is neutral, with 11 indicators displaying bullish signals compared to 11 bearish signals at the time of writing.

The daily simple and exponential moving averages are giving sell signals, according to data from TradingView, while the relative strength index (RSI) is at 36, as of 13 January. An RSI reading of 30 or below indicates an oversold or undervalued condition.

A debut play-to-earn game

When the flagship game of the UFO Gaming ecosystem launches, it could provide a boost to the project by offering users an immersive and unique player experience.

Virtual land, which will act as a critical feature of Super Galactic, has become highly sought-after within the NFT industry. For example, both a rare Axie Genesis Plot sold for $2.5m, or 550 ETH and the artist Krista Kim sold the world’s first digital NFT home, known as Mars House, for 288 ETH or $515,459, on the digital art marketplace SuperRare last year.

Super Galactic will be unique as each plot of land will be customisable and alien quests are set to include UFO rarity scores. What’s more, in September last year, UFO Gaming announced that it will be launching Origin Genesis NFTs on the layer-2 scaling protocol, Polygon. As such, the project benefits from Polygon’s high-speed transactions and minimal gas fees.

UFO Gaming secured multiple partnerships throughout the end of 2021 with Kadena, Merit Circle and CitizenX, as well as sponsoring Chainlink’s Hackathon event last year. In other UFO coin news, the cryptocurrency exchange KuCoin listed UFO in December last year.

A risk for the project lies in the fact that UFO Gaming launched only in 2021 making it a relatively new project operating within a nascent industry.

UFO crypto price prediction: Buy, sell or hold?

In terms of a UFO token price prediction, algorithm-based forecasting service WalletInvestor gives a positive prediction. Based on historical data, Wallet Investor sees the price going up to $0.004088 by February 2022 and hitting $0.00490 by January 2023.

Digital Coin Price supports the bullish UFO forecast, expecting the token to grow to $0.00002307046 in February 2022, $0.00004159700 in January 2025 and $0.00007050493 in January 2028.

While the UFO token price prediction for 2030 is not yet available, Digital Coin Price suggests it could be $0.00007484419 at the end of 2029.

“The current GameFi trend popularised by Axie Infinity has inspired many other gaming platforms to enter into the cryptocurrency realm with hopes to bridge traditional gaming with blockchain,” said Anndy Lian, chairman of BigONE Exchange and chief digital adviser for Mongolia’s national productivity agenda.

“UFO has potential to grow since it’s the first P2E platform to sponsor an esports gaming event. It’s also fully decentralised and will give players the chance to buy and sell NFT collectible soldiers,” Lian told capital.com.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Monero (XMR) price prediction: Privacy-enhanced crypto

Monero (XMR) price prediction: Privacy-enhanced crypto

Monero (XMR) is a secure and untraceable cryptocurrency that runs on a privacy-enhanced blockchain. Unlike Bitcoin (BTC), which is transparent, Moreno is known for ensuring the anonymity of its users through censorship-resistant transactions.

The company enables fast and private transactions between any two parties in the world through the Monero wallet and its untraceable digital currency, XMR.

When you think of bitcoin, peer-to-peer technology springs to mind. Moreno has, comparatively, been designed around privacy-oriented features. Some cryptocurrencies allow public viewing of all transactions and others make privacy optional.

Meanwhile, Monero has been popularised for being an anonymous cryptocurrency, where not only are the sender and recipient anonymous, but amounts too are wholly untraceable, even for developers and miners.

In keeping with its privacy focus, Monero was developed by a consortium of anonymous programmers in April 2014. Yet, despite its privacy-oriented features, Monero still uses a similar underlying blockchain technology to Bitcoin and Ethereum (ETH).

It relies on open source code with a large community of contributors. Where it differs from bitcoin is that Monero applies privacy features to every single transaction made on its network.

In 2021, the project’s native coin struggled through a volatile rise. Yet what factors are shaping the Monero price prediction in 2022?

What is Monero (XMR)?

The primary function of XMR is to be used as electronic cash, eliminating the need for wire transfers, check clearing fees, multi-day holding periods or fraudulent chargebacks.

XMR can be exchanged for goods, services and other currencies with low fees and 1,244 merchants worldwide accept it as a payment, according to Cryptwerk. This is nearly half as many merchants (3,184) as those that accept Litecoin (LTC).

Monero’s blockchain is designed to make all transaction details, such as the identity of senders and recipients, as well as the amount of every transaction, anonymous by concealing the addresses used by participants.

The project claims to be the only cryptocurrency where every user is anonymous by default. This is made possible through the use of three technologies:

  • ring signatures
  • stealth addresses
  • ring confidential transactions (RingCT)

Ring signatures are anonymous digital signatures that enable senders to conceal their identity from other participants in a group. A signer chooses a ring of public output keys (one of which is his/her own) and fashions a signature on the message of his/her choice.

A verifier can be assured that the signer knows the corresponding private key and that this key was not used to sign any other message with any other ring.

To generate a ring signature, Monero merges a sender’s account keys with public keys on the blockchain, making it unique as well as private. It hides the sender’s identity so that it will not be computationally possible to ascertain which of the group members’ keys were used to produce the signature.

Stealth addresses add an additional privacy layer since these randomly generated addresses for one-time use are created for each transaction on behalf of the recipient. Meanwhile, ring confidential transactions (RingCT) conceal transaction amounts and are mandatory for all transactions executed on the Monero network.

On average, a new Monero block is created every two minutes, and there is no maximum block size.

Monero coin price analysis: A technical view

Following a listing on one of the world’s largest digital asset exchanges, Kraken, on 2 January 2017, XMR soared from $13.74 on 9 January 2017 to $132.38 on 30 August 2017. Eleven months later, when XMR was listed on another leading crypto exchange, Binance, it rallied from $87.99 on 3 November 2017 to the peak of $469.2 on 20 December 2017, an increase of 433%.

The price then retreated during March 2020, bottoming out at lows of $33.13 on 12 March. XMR rallied again in early 2021. After starting the year at $133.6 on 4 January 2021, the price moved back closer to the key $300 level on 19 February at $283.48.

The price then jumped to achieve an all-time high of $483on 9 May that same year, surpassing its previous all-time high of $469.2 on 20 December 2017. After a dip to $200.03 on 19 May 2021, XMR fell further to $183.1 on 20 July.

After sideways price action in the following months, the coin has failed to repeat those May highs. Monero’s coin price currently (10 January) stands at around $190.3, and ranks 44th in the list of cryptocurrencies by market capitalisation at $3.4b, according to CoinMarketCap.

Technical analysis provided by CoinCodex shows that short-term sentiment on XMR is bearish, with eight indicators displaying bullish signals compared to 23 bearish signals, at the time of writing (10 January).

The daily simple and exponential moving averages are giving sell signals, according to data from TradingView, while the relative strength index (RSI) is at 40, as of 10 January. An RSI reading of 30 or below indicates an oversold or undervalued condition.

An opaque blockchain

A benefit of the project is that Monero can be exchanged for other currencies using peer-to-peer (P2P) exchanges that offer full control for non-custodial coins.

In other Monero news, the company announced in August 2021 that it’s offering a new decentralised way to exchange bitcoin for Monero through an Atomic Swaps program. The project, self-described as a grassroots community, also boasts a graphical user interface (GUI) wallet which has been developed by the Monero community and is free to use.

What stands out about the project is that new blocks are created every two minutes, which can lead to faster transaction times. Since its blockchain is opaque, Monero offers an intrinsically high degree of decentralisation and its research lab and development team are working ongoingly on new technologies. Since its launch, over 500 developers from all over the world have contributed to the project.

In addition, its proof-of-work (PoS) algorithm prevents specialised mining hardware from dominating the Monero network by facilitating the distribution of block rewards.

“Monero is an open source project and its native token, XMR is considered to be one of the first privacy-focused cryptocurrencies that has gained mainstream momentum,” said Anndy Lian, chairman of BigONE Exchange and chief digital advisor for Mongolia’s national productivity agenda.

“This is shown by how it ranks amongst the top fifty cryptocurrencies on CoinMarketCap. It’s worth noting that the project is operating in a field with other related privacy-focused coins such as BEAM, ZEN and DASH, with some of them gaining more than 100% in the past twelve months,” Lian told Capital.com.

A key risk for the project lies in the fact that Monero is susceptible to cyber criminality since the token operates on its own blockchain and all transaction details are concealed, as well as the wallet address and identity of both senders and recipients. What’s more, Monero is not subject to legal jurisdiction.

Monero (XRM) price prediction: Buy, sell or hold?

In terms of Monero predictions, algorithm-based forecasting service Wallet Investor gives a positive XMR/USD forecast. Based on historical data, Wallet Investor sees Monero’s future price going up to $228.050 by February 2022, reaching $487.543 in January 2024 and $742.974 by January 2026.

Digital Coin Price supports the bullish Monero forecast, expecting the token to grow to $254.36 in February 2022, $440.59 in January 2025 and $639.76 in January 2028.

Note that predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

 

Original Source: https://capital.com/monero-price-prediction-will-xrm-go-up

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Request (REQ) crypto price prediction: PayPal of crypto

Request (REQ) crypto price prediction: PayPal of crypto

Request is a decentralised, Ethereum-based network that, like its name suggests, allows users to request and receive payments through secure means.

The Request Network is powered by the REQ token that was launched in 2017 and can be used to pay for fees associated with transactions conducted on the network.

The cryptocurrency is an ERC-20 token, which means that the supply of REQ decreases proportionally to the increasing adoption of the Request Network. This means that the higher the growth of the token’s price, the more deflationary the REQ token becomes – the number of REQ coins in circulation decreases making individual coins more valuable.

The REQ coin saw a bearish trend for about three years after falling from its all-time high of $1.18 on 6 January 2018 by 97.94% to $0.02425 on 20 November 2018. The coin’s value kept decreasing until it reached its all-time-low of $0.004651 on 13 March 2020. It only started to regain any momentum at the start of February 2021.

On 19 August 2021, the REQ token was listed on Coinbase, which boosted its price to $0.3155. The cryptocurrency’s value then jumped once again by 265.32% from $0.2042 and $0.746 between 24 and 26 November 2021.

Since capping at $0.746, the token’s price then fell by 59.95% to $0.2987 at the time of writing (7 January, 2022). Will the coin manage to regain past highs and what does the Request Network price prediction for 2022, 2025 and 2029 look like?

What is Request coin?

In 2014, a group of talented individuals including Etienne Tatur, Christophe Lassuyt, Vincent Rolland, Julien Devoir, Laura Girod and Elliott Denis got together with the aim of creating an international transfer system based on Bitcoin that could potentially develop into a global network that aggregates money transfer solutions and allows monthly transfers of several million dollars.

With that in mind, the team of creators developed a number of platforms – such as destinesia.io, theblockchainnetwork.com, neomy.io and moneytis.com – before settling with the Request Network in August 2017 that aims to build “the future of finance in the new decentralized economy.”

The Network’s inner workings are actually pretty simple. The process to request and receive payments, coined Request Invoice, works as any other peer-to-peer payment. Person A sends an invoice to Person B through the blockchain that can be paid in one click. Request payments can also be further expanded and used for online purchases and business-to-business invoices.

But what makes the Request Network different from other peer-to-peer payment applications, such as the likes of PayPal, for example?

According to the Network, Request offers:

  • Security – because sharing one’s banking information is not necessary
  • Simplicity – because the user only needs one button to pay
  • Savings – because purchases do not require the user to spend money on any other third parties

The REQ token is a necessary asset that helps the Network operate and allows users to participate in it, creates advanced Requests and rewards various parties who will help build the blockchain’s ecosystem.

While using the Network, users are asked to pay a fee in REQ, which is then burned.

With an initial supply of nearly one billion tokens, four years since its launch the Network is circulating 999,877,116 coins. REQ coin has a market capitalisation of over $303m (as of 7 January 2022) and the Network has 81,000 community members. The coin is ranked 169th on CoinMarketCap and has a market dominance rating of 0.02%.

 REQ price technical analysis

The REQ token has struggled through quite a ride during its five years of circulation reaching an all-time-high of $1.18 on 6 January 2018. After such success, the coin started to fall dramatically, dropping to $0.02733 by 21 November that same year.

The coin then kept a bearish trend until February 2021 when it started to gain momentum. In August 2021, the Coinbase listing boosted the token with the price jumping from $0.067 on 5 August to the peak of $0.3974 on 12 August – a 492.5% surge in a week.

After sideways to lower price action between August and November 2021, the REQ coin reached the yearly peak of $0.746 on 26 November, however, soon started to drop once again amid wider cryptocurrency sentiment shift.

Request crypto analysis: Latest drivers

The all-time high reached by the REQ token on 6 January 2018 preceded the launch of Requify, a payment plug-in for e-commerce company Shopify that is operated through the Request Network. The functionality allows Shopify sellers to accept cryptocurrency payments with no additional setup or monthly fees, a huge step in making cryptocurrency a globally-accepted form of payment.

In 2018, Request joined the Wall Street Blockchain Alliance, introduced Request Donations on CoinGecko and opened an office in Amsterdam. Yet despite positive developments, by 20 November 2018 the cryptocurrency’s value dropped by 97.94% to $0.02425 since its all-time high in January.

For the next three years the price action moved lower until it started to gain momentum in early February 2021.

The REQ token benefited from being listed on the Coinbase platform in mid-August 2021, surging by 716.93% since its January lows to $0.3155 on 19 August.

“The primary reason behind [REQ’s] price surge is its Coinbase listing,” Dr Pooja Lekhi, Professor of Global Financial Institutions, Risk Management Approach and Financial Management at University Canada West told Capital.com.

“Coinbase is the largest crypto exchange in the US and a favourite trading platform for institutional investors. REQ started trading on Coinbase in mid-August last year and its price quickly started to rise.”

The next catalyst event for the cryptocurrency’s value was the announcement of its support of Web3creators.com, an independent media channel that aims to help people build their projects and careers in decentralised finance (DeFi). The REQ coin grew once again between 24 and 26 November 2021.

In the most recent Request crypto news, the corporate adoption of the project was surging with Request Finance now used by more than 1,000 businesses, pushing the coin to a 48.58% daily gain to $0.6716 on 1 December 2021 from $0.452 opening price.

However, since then, the coin’s price dropped by 55.52% as of 7 January 2022 to $0.2987, amid a wider sentiment shift in cryptocurrency markets.

Request token price prediction: Does this payments platform have a bright future?

Despite recent bearish results, algorithm-based forecasting service Wallet Investor gave a bullish Request Network price prediction noting that it is an “awesome long-term investment”.

Based on its analysis of the cryptocurrency’s past performance, the forecasting service predicted that REQ could cost $0.791 next year and $2.451 in five years.

On the other hand, DigitalCoinPrice gave a more modest outlook. According to its Request coin price prediction, the token could reach $0.4465 by December 2022, rise to $0.7253 by December 2025 and hit $1.28 by December 2029.

Please note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

Analyst views on Request

Matjaz Skorjanc, the founder and mining manager of cryptocurrency mining and exchange platform NiceHash, said REQ’s focus on compliance and making crypto invoicing tax-friendly is one of the reasons why the REQ token had gained momentum.

“Add to this the fact that Ethereum gas fees are sky high, using Request is something that has become more attractive for other coin projects based on Ethereum to start using. Coins like Aave, Gnosis and Ocean, are all working with Request,” he told Capital.com.

Skorjanc added that as the Ethereum network struggles with high gas prices: “Request will gain even more popularity, and therefore we will likely see positive price action on REQ in the short term, and likely can continue its upward momentum as more mainstream accounting firms start to discover it’s benefits.”

Chairman of BigONE Exchange Anndy Lian agreed with the bullish outlook for Request token price prediction.

“Since more than 1,000 companies and [decentralised autonomous organisations] DAOs have used them, I hope they can continue to take the lead in this space and work on how Web 3.0 can and will change the payment space to another level,” he said.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j