Tag Archives: price

Kusama price prediction: Will it reach $600 again?

Kusama price prediction: Will it reach $600 again?

Kusama (KSM) is a scalable network of specialised blockchains built using Substrate. It’s referred to as Polkadot’s canary network because it serves as a near identical copy of the Polkadot blockchain.

As an experimental development environment, Kusama provides teams with the ability to test and fine-tune new features and early versions of projects in preparation for deployment on the Polkadot open-source blockchain platform. This is made possible because the network performs nearly the same functions as Polkadot.

More specifically, Kusama enables developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination and validation functionalities in a real environment before they are released on Polkadot.

The early, unaudited and unrefined release of Polkadot is not economically centralised and aims to cater to new, early-stage and high-risk functionality startups and projects.

The company, founded in 2019 by Gavin Wood, has stated that its goal is to spark innovation by placing the latest technology from Parity Technologies and the Web3 Foundation in the hands of developers even before those features make it to Polkadot.

Overall, Kusama’s open governance and sharded blockchains provide businesses, marketplaces and applications looking to move to Polkadot with a scalable infrastructure.

What is Kusama (KSM)?

Kusama is powered by KSM, its native token, which maintains the network. The main function of KSM is to enable users to validate, nominate validators, bond parachains, pay for cross-chain message passing and vote on governance referenda. It can also be used as a governance token for managing protocol updates.

The Kusama network relies on a Relay Chain that uses a nominated proof-of-stake (NPoS) model. Anyone who stakes KSM is eligible to perform any or all of the following roles:

  • a validator who is responsible for validating data in parachain blocks and participating in consensus and voting processes. Validators are elected based on a sequential Phragmén algorithm
  • a nominator who secures the Relay Chain by appointing his/her staked KSM tokens to validators in order to share in the rewards that are paid out

As it pertains to Kusama’s unique tricameral governance model, anyone who purchases KSM tokens can propose changes to the network and approve or reject changes proposed by others through a Referendum Chamber.

The chamber consists of stakeholders who are weighted according to both the amount of KSM held and the amount of time they are willing to hold these tokens. This legislative chamber is considered to have the broadest membership and is by far the most powerful chamber.

KSM holders can also elect members to an executive body known as the Council. A Technical Committee, composed of members voted in by the Council, also exists for the purpose of making urgent proposals in the event of an emergency. Overall, voting on proposals in the Referendum Chamber lasts 28 days and, if approved, it takes a further 30 days before any changes come into effect.

What’s more, validators can stake their KSM tokens in order to earn inflation rewards. Inflation is designed to be approximately 10% annually, with validator rewards being a function of the amount staked and the remainder going to the Treasury.

It’s worth noting that KSM is inflationary. There is no maximum supply. The network attempts to maintain an ideal staking rate of 50%, and KSM is inflated according to the system staking rate of the entire network.

The system staking rate would be the total amount of KSM staked over the total token supply, whereas the total amount staked amounts to the stake of all validators and nominators.

KSM price analysis: Technical view

The KSM coin was launched in December 2019. It reached an all-time high of $623.75 on 18 May 2021 when it climbed by 105% from its earlier price of $303.04 on 24 April 2021.

This surge could be attributed to KSM being listed on two major cryptocurrency exchanges. First, KSM was listed on the world’s largest crypto exchange, Binance on 2 September 2020.

On 17 September 2020, the token was listed on one of the world’s largest digital asset exchanges, Kraken. Then on 24 November 2020, Kraken added support for staking with a reward of 12% yearly.

However, this rally was short-lived. KSM lost over 50% of its value on 23 May 2021, falling to $262.97.

Last year, Kusama ran a total of six parachain auctions from 1 September until 13 October, with each auction lasting seven days. Shortly before this, KSM had been trading at $296.04 on 24 August 2021, but the price rose to $402.99 on 2 September, once the auctions had commenced. A further surge saw the price reach $509.62 on 7 November 2021.

KSM is currently (6 January) trading at around $265.51, and ranks 59th in the list of cryptocurrencies by market capitalisation at $2.2bn, according to CoinMarketCap.

Technical analysis provided by CoinCodex shows that short-term sentiment on KSM is bearish, with three indicators displaying bullish signals compared to 23 bearish signals.

The daily simple and exponential moving averages are giving sell signals, according to data from TradingView, while the relative strength index (RSI) is at 39, as of 6 January. An RSI reading of 30 or below indicates an oversold or undervalued condition.

Low barriers to entry for deploying parachains

What is distinctive and beneficial about Kusama is that it brings multiple blockchains together in one sharded network, freeing developers from the silos created by legacy blockchain networks.

Those using Kusama in order to facilitate testing can build a user base in a flexible development environment and fine-tune new features and early visions for projects in preparation for full deployment on Polkadot.

The diverse Kusama ecosystem allows developers to test innovations and still have almost the same experience as building on Polkadot, as both platforms possess the same codebase and multi-chain infrastructure.

Another benefit is that businesses, marketplaces and applications looking to transition to Polkadot can launch their own custom blockchain projects with low barriers to entry, making Kusama ideal for early-stage startups that are looking to move fast and iterate.

Developers can also build their own app-specific blockchain and connect it to Kusama using Substrate, the modular blockchain framework that Kusama is built on.

A risk for Kusama is that it is a wholly experimental network created to test scalability and interoperability and launched only in 2019, making it a relatively new project operating in a nascent industry.

“Kusama is the testing sandbox for Polkadot, the ‘blockchain of blockchains’ founded by the genius brain behind Ethereum’s smart contracts, Gavin Wood,” said Col Jung, a cryptocurrency expert and engineer working in analytics and mathematics modelling.

“As we continue to live in an increasingly multi-chain world, blockchain interoperability will become king. Kusama is a key tool for developers working towards that futuristic vision,” Jung told Capital.com.

Anndy Lian, chairman of BigONE Exchange and chief digital advisor for Mongolia’s national productivity agenda, said that Kusama can leverage Polkadot’s wide user base and global reach.

“Kusama’s most recent parachain slot auctions that ran throughout December 2021 prove my point,” Lian told Capital.com.

“For example, many major exchanges ran the auction and the large number of participants says it all. There has clearly been an influx of community members to their network. However, Kusama only exists as an unaudited version of Polkadot where new features are tested,” Liam added.

Kusama coin price prediction: Buy, sell or hold?

In terms of a Kusama crypto price prediction , algorithm-based forecasting service Wallet Investor gives a positive KSM/USD forecast. Based on historical data, Wallet Investor sees the price going up to $339.772 by February 2022, reaching $854.074 in January 2024 and hitting $1430.010 by January 2026.

Digital Coin Price supports the bullish KSM forecast, expecting the token to grow to $382.95 in February 2022, $628.94 in January 2025 and $1,004.72 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/kusuma-ksm-price-prediction

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
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What Should Investors Do Now That The Price of Bitcoin Has Dipped

What Should Investors Do Now That The Price of Bitcoin Has Dipped

Bitcoin, the world’s first cryptocurrency, recently dropped to $42,000 in an unexpected drop that also impacted major altcoins and cryptocurrency investors.

 

Bitcoin recently reached an all-time high of $69,000, and enthusiasts were already calling for the next leg up for bitcoin to reach new heights, which is why this dip surprised many investors. The sharp drop in May, when cryptocurrencies lost 47% of their value in a week, was prompted by a clampdown on crypto-trading in China and a tweet by Elon Musk, Tesla’s chief executive, saying that the electric-vehicle maker would stop accepting payments in bitcoin.

 

BigONE has decided to investigate the reasons for the latest Bitcoin price crash, to understand its longer-term prospects, as well as scope out alternative crypto investment opportunities to enable you to update your trading strategy for 2022.

 

Cryptocurrency analysts have cited several reasons as the cause of this 20% fall in Bitcoin’s value,  including FUD created by Gary Gensler, the SEC chairman, regarding cryptocurrency regulation in the US, the news of a new variant of the coronavirus called Omicron, unease in the markets after the latest US monthly jobs report sent mixed signals about the country’s economic recovery, which

 

“may have indicated to investors that the Federal Reserve would raise interest rates sooner than planned, lowering the returns on riskier assets,”

 

according to the Financial Times (FT). In addition, President Joe Biden signing a $1.2 trillion infrastructure bill that contains tax ramifications for cryptocurrency investors in the US may have also played a part. All of these factors could have played a role in this cryptocurrency market decline, but one key factor has gone unnoticed, and it has to do with the influence of traditional financial markets.

 

The cryptocurrency market, which is typically regarded as an independent market from traditional financial assets, fell in value only hours after a storm in traditional financial assets. Wall Street, the epicenter of the world’s financial markets, experienced a volatile weekly close on Friday, December 3 in response to news of the spread of a new strain of the coronavirus.

 

Bitcoin’s drop has been traced back to these Wall Street events, which is somewhat surprising given that cryptocurrencies are classified differently than traditional assets. Speaking to the FT, David Fauchier, portfolio manager at Nickel Digital, linked the investors who sold off equities to many of the same people who sold off Bitcoin, causing the price drop so sharply, particularly because crypto is tradeable over weekends, unlike traditional stocks.

 

The future outlook for Bitcoin investors

Despite this drop, Bitcoin has proven to be highly resilient since its inception, always rising to new highs after each setback. The most recent occurred after Bitcoin reached its previous all-time high of $64,000 around April and fell by nearly 50% in May before recovering and reaching a new all-time high of $69,500 for the first time on November 10.

 

Bitcoin is currently trading at $49k, having recovered somewhat from its lows of $42k. According to Humphrey Yang, the personal finance expert behind Humphrey Talks, big price dips are nothing to be concerned about, instead, he avoids checking his investments during volatile market dips. “I’ve been through the 2017 cycle, too,” Yang said in a Time article, referring to the 2017 ‘crypto crash’, in which many major cryptocurrencies, including Bitcoin, lost significant value. “I’m aware that these things are extremely volatile and that they can fall by as much as 80% in a single day.”

 

It’s also worth noting that in many cryptocurrencies a few big investors hold significant sway. For example, in the case of meme coin Shiba Inu, ten wallet addresses hold more than 60% of the total available supply of Shiba Inu. In other words, at least ten people have these wallet addresses, or all of them are held by a few people.

 

Even the Shiba Inu audit report, available on its website, shows that more than half of its total available supply is stored in four wallet addresses. Therefore, if any of these wallet addresses decides to sell Shiba Inu coins, the market will be seriously affected. While in the case of Bitcoin in 2020, less than 20% of the supply was actually traded with the majority of BTC held long-term.

 

As a result, trades can have a disproportionate impact on the market.

 

Based on its performance over the last decade, BigONE believes Bitcoin has the potential to recover from this latest pullback. However, investing in cryptocurrency involves risks, and BigONE thinks everyone should conduct their research before investing in any other cryptocurrency.

 

According to CoinMarketCap data from early November, there are currently over 13,500 cryptocurrencies in circulation. However, many of these cryptocurrencies are disappearing from the market daily for a variety of reasons. Investing in cryptocurrency can yield extraordinary returns, but it also carries risks, as do all investments.

 

Therefore, BigONE advises you to only invest in funds that you can afford to lose and to make sure that your crypto assets are part of your overall investment portfolio. You should also spend as much time researching and learning about the cryptocurrency you intend to invest in before making any investment decisions.

 

Other crypto investment opportunities

BigONE believes investors should take inspiration from the drop in the price of Bitcoin and investigate coins with utility in the growing metaverse market. The metaverse concept is becoming increasingly popular, with tech behemoth Facebook (now Meta) recently rebranding to become a metaverse company.

 

With the development of the metaverse, we can already see people using cryptocurrency to buy land and commodities in various existing virtual worlds, proving the viability of the “cryptocurrency-metaverse” combination. In 2021, Axie Infinity is one of the best performing cryptocurrencies with its highly engaged play-to-earn user base. So far, it has generated an incredible gain of more than 24,000%, and this play-to-earn game has inspired a slew of similar games.

 

Players can breed and raise cute and unique Axies, then sell them on the market for large profits. Other metaverse tokens worth a closer look include Decentraland’s MANA tokens which can be used to buy and develop the land.

 

As reported in Cointelegraph on December 6: “Although Decentraland ranked in second place for the total volume traded, the top 10 most expensive metaverse NFT sales during the past week, ranging from 225,000 MANA ($758,250) to 50,000 MANA ($220,000), were all on the Ethereum-based virtual world. Decentraland traded $6.6 million in volume for 399 assets over the past week.”

 

Other potential tokens worth investigating include layer-one solutions such as Solana and Fantom and layer-two solution tokens such as Matic, which can be purchased on the BigONE exchange.

 

Certainly, Solana has been a firm favorite with crypto investors, having risen in value by more than 15,000% on a year-to-date basis. A key reason for this, apart from its fast transaction rate and cheaper fees than Ethereum, is its ability to grow the NFT marketplace. “As we just pointed out, Solana’s low-fee, the high-speed network has proven to be beneficial for NFT investors looking to nab a popular piece of digital artwork,” confirmed a recent report in The Motley Fool.

 

Committed investors should consider these altcoins that have the potential to become blue chips in the longer term, and this dip is an excellent time to both investigate and acquire these tokens.

 

#AnndyLian says: “Volatility is built into the way crypto markets operate, which means your crypto position may be great today, but look terrible tomorrow. You should approach investing with this in mind, and sell if you need to and buy again when the time is right for you and your level of risk. Don’t get too stuck on one particular project or token, there are new opportunities opening up with the growth of the metaverse.”

 

 

Original Source: https://hackernoon.com/what-should-investors-do-now-that-the-price-of-bitcoin-has-dipped

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

Metahero (HERO) price prediction: A cutting-edge project

Metahero (HERO) price prediction: A cutting-edge project

Metahero is a blockchain-based project that utilises three-dimensional (3D) scanning and modelling technology in order to generate ultra-high-definition (UHD) avatars and virtual items that can be used across games, virtual reality and social media, and in online fashion.

The company’s core mission is to offer futuristic virtual opportunities where people can recreate real-world assets and then move them into the metaverse.

Metahero’s versatile target demographic includes gamers, artists, celebrities and influencers, marketing professionals, professional athletes and online fashion platforms. It effectively enables anyone in the world to be able to scan a real-world asset – including themselves – to create a UHD avatar within just a few minutes.

A user simply needs to install the Metahero app and have the appropriate amount of HERO tokens in order to pay for the scan online.

Such cutting-edge developments have been made possible through a partnership with Wolf Digital World, the exclusive contractor and technology supplier for Metahero that has developed its advanced photogrammetric meta-scanning chamber.

This technology, which consists of numerous configuration options and data-collection sensors, has already been used by the likes of Ferrari and CD Projekt.

What is the Metahero coin?

HERO, which is built on the Binance Smart Chain (BSC), is a deflationary token that can be used for transactions within the Metahero ecosystem, as well as to pay for 3D scans and royalties.

Users can stake their HERO tokens in order to earn passive rewards. Meanwhile, the buyback and burn programme is initiated only when total liquidity on PancakeSwap exceeds $10m (€8.8m, £7.4m).

The main functions of HERO are as follows:

  • smart staking – where 0–2% of every transaction is proportionally distributed among all holders as a passive reward;
  • a burn process – where 0–2% of every transaction is permanently burned;
  • auto-liquidity – where 0–6% of every transaction is automatically added to liquidity on PancakeSwap; and
  • buyback and burn – where HERO tokens are burned, and then the Binance coin (BNB) is used to buy back and burn even more HERO.

Users are also able to buy, sell and transfer HERO with no fees.

HERO price analysis: Technical view

The HERO coin was launched in July this year and reached an all-time high of $0.2518 on 3 December 2021 when it managed to move above the key resistance level of $0.1720. The price then retreated to $0.1882 on 6 December 2021, dropping to a low of $0.1419 on 14 December.

Prior to this, the Metahero coin price had rallied to $0.2336 on 29 November 2021 from $0.1268 on 26 November. This 84% increase coincided with two positive catalysts: exponential growth in Metahero’s social media engagement, as reported on 29 November, as well as the company trending at number one on CoinGecko’s search box that same day.

In addition, HERO was listed on cryptocurrency exchange KuCoin on 29 October 2021, leading the coin to jump from a low of $0.09056 on 26 October to $0.1207 on the day of the listing.

HERO is currently (as of 30 December 2021) trading at around $0.136686. At $697m, it ranks 227th in the list of cryptocurrencies by market capitalisation, according to CoinMarketCap.

Technical analysis provided by CoinCodex shows that short-term sentiment on HERO is mostly bearish, with nine indicators displaying bullish signals compared to 14 bearish signals.

Cutting-edge technology and UHD 3D avatars

Metahero’s UHD meta-scanning chamber provides users with the option to scan themselves or their real-world assets, and then generate a realistic 3D rendering of these scans in the metaverse.

Yet one of the project’s most distinguishing factors is that users can also license their avatars to be used in games or other applications through the company’s upcoming 3D non-fungible token (NFT) marketplace, which was originally set for launch in the fourth quarter of 2021. While there is no news yet as to whether the launch has occurred – some sources consider this more likely to be in early 2022 – this component would allow users to monetise their avatars or earn extra revenue through the creation of NFTs.

Earlier this year, the company did launch its Metahero app, which allows users to track and manage their wallet activity and investments through real-time data and analytics.

In its white paper, the company also states that it is expecting to partner with Visa at an unspecified date in order to enable HERO holders to utilise their tokens for their daily expenses.

Metahero’s mega features

A crucial feature of the Metahero ecosystem is the UHD meta-scanning chamber that consists of 16 mobile columns equipped with a server unit of four cameras, all snapping pictures at full synchronisation.

Also, 12 meta-scanning chambers will be initially distributed throughout highly urbanised locations across the world – meanwhile, the first chamber has already been installed in Doha, Qatar.

In other Metahero crypto news, the company stated that it is currently working on upgrading existing meta-scanning chambers with new features that will include 16,000 UHD-resolution, foldable and mobile designs to enable easy transportation, shipping and set-up, as well as integrated photogrammetry head-scanning and facial mimicry.

This year, it was also announced that Metahero’s exclusive contractor and technology supplier, Wolf Digital World, has partnered with one of the world’s largest manufacturers of electronic products – Sony in order to co-develop an advanced photogrammetric scanner, which could provide a further boost to the project.

A risk for the project lies in the fact that 3D meta-scanning chambers are a new phenomenon. Even though photo-realistic avatars have been popularised by Bill Gates’s recent blog post where the business magnate stated he expects office meetings to go from 2D camera-image grids to 3D avatars within the next two or three years, Metahero is still operating within a nascent industry.

“One of Metahero’s key selling points is how they allow users to scan their assets or themselves in ultra-high definition and present these in the digital world,” said Anndy Lian, Asia chairman of BigONE Exchange and chief digital advisor for Mongolia’s national productivity agenda.

“There is a high demand for this niche within the cryptocurrency and gaming sectors. In addition, the popularisation of the metaverse has no doubt contributed to the project’s success,” Lian told capital.com.

“However, I believe that Metahero ought to market themselves more globally, perhaps seeking partnerships in Asia or other emerging markets,” he concluded.

Metahero crypto price prediction: Buy, sell or hold?

In terms of a Metahero coin price prediction , algorithm-based forecasting service Wallet Investor gives a positive HERO/USD forecast. Based on historical data, Wallet Investor sees the price rising to $0.552 by end December 2022, $1.338 by end December 2024 and hitting $1.733 by end December 2025.

Digital Coin Price supports the bullish Metahero coin forecast, expecting the token to grow to $0.21935894287 in December 2022, $0.26219545478 in 2025 and hit $0.58264192480 in 2028.

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.

 

Original Source: https://capital.com/metahero-hero-price-prediction

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