Best Crypto to Buy Now January 18 – dYdX, Flare, Sui
Publikováno: 18.1.2024
Having hit a new monthly high after outpacing Uniswap in volume, the dYdX price has had an impressive surge, making DYDX one of the leading choices for the best crypto to buy now. While Flare has seen a 10% increase fueled by its new Google Cloud partnership, Sui Network has experienced negative volatility lately even […]
The post Best Crypto to Buy Now January 18 – dYdX, Flare, Sui appeared first on Cryptonews.
Having hit a new monthly high after outpacing Uniswap in volume, the dYdX price has had an impressive surge, making DYDX one of the leading choices for the best crypto to buy now.
While Flare has seen a 10% increase fueled by its new Google Cloud partnership, Sui Network has experienced negative volatility lately even with the platform’s DeFi expansion.
For those seeking Bitcoin alternatives, crypto presales like Bitcoin Minetrix and Launchpad XYZ remain appealing options worth considering.
Best Crypto to Buy Now in the News
dYdX, a decentralized exchange now operating on the Cosmos ecosystem, recorded a massive trading volume of nearly $757 million.
This leap in activity has propelled it past Uniswap v3’s Ethereum market, which saw $608 million in trades during the same timeframe.
#dYdX Tops #Uniswap as Largest DEX by Volume
The decentralized exchange, which last year moved over to the Cosmos blockchain, just saw $757 million of volume over a 24-hour period pic.twitter.com/dye8ZFw46l
— Ajay Kashyap (@EverythingAjay) January 18, 2024
dYdX’s market share has risen to approximately 12%, edging out Uniswap’s 9.7%.
Despite leaving Ethereum’s more sizable community behind, dYdX’s move to Cosmos has brought benefits like the elimination of gas fees, now replaced by trade-based fees.
The platform’s focus on perpetual futures trading continues to attract DeFi investors.
With a total trade volume of $17.8 billion since its inception, dYdX v4 demonstrates a strong presence in the DeFi sector.
Flare’s market performance has also been notable, with the FLR price climbing over 9.11%, reaching $0.02299 so far today.
Flare onboards @GoogleCloud as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.
Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data.https://t.co/bJF9yX7GrXpic.twitter.com/oGySMD4vVq
— Flare
(@FlareNetworks) January 15, 2024
The partnership with Google Cloud, which has become a validator and contributor to Flare’s Time Series Oracle, is still believed to be a catalyst for this rise.
Flare’s market capitalization stands at around $750 million, with trading volumes reflecting a 45.62% increase so far today.
Speculation about a possible Binance listing, given Flare’s performance on other CEXes, continues to circulate within the community.
Sui’s price has had major swings lately, with a 9.83% drop so far today. However, technical indicators point to diverse possible outcomes ahead.
The Relative Strength Index indicates a bearish divergence currently, yet the Moving Average Convergence Divergence remains bullish.
Should a breakout occur, the Sui price could target higher supports, following its peak of $1.4508 reached on January 15.
Beyond price fluctuations, the Total Value Locked in Sui’s ecosystem has reached $319.41 million.
This marks substantial growth for the network, allowing it to overtake Bitcoin as the 14th-largest DeFi platform.
Protocols like Cetus, NAVI Protocol, and Scallop Lend have contributed to this ecosystem expansion.
Meanwhile, crypto presales are gaining traction as viable alternatives to established cryptocurrencies.
Bitcoin Minetrix and Launchpad XYZ, although in their early stages, are drawing attention with their unique offerings and possibilities.
When considering the best crypto to buy now, dYdX, Flare, and Sui each offer distinct value and market dynamics.
Amid the constant fluctuations within crypto, these cryptos along with new Bitcoin alternatives like Bitcoin Minetrix and Launchpad XYZ provide varied options for potential investment.
With fresh choices continually arriving in this mutable sphere, investors have an array of prospects to evaluate.
dYdX Price Prediction: Hovering Above Support, Will Bulls Regain Control?
The DYDX price has seen a dramatic 4.96% drop so far today, erasing some of yesterday’s 8.11% gain.
After successfully breaking past resistance, DYDX now faces a critical retest of its former hurdle-turned-support zone between $2.905 and $3.002.
With the DYDX price hovering precariously above this area, traders are questioning if the recent selloff marks a bottom or if more downside is in store.
Examining the key moving averages, the DYDX20-day EMA currently stands at $2.863 while the 50-day EMA is slightly higher at $2.888. Typically, the 20-day above the 50-day is seen as an initial bullish sign.
However, with both EMAs trending relatively flat, caution remains warranted as this signals continued indecision in the DYDX price.
The RSI for DYDX is reading 53.77, down substantially from yesterday’s reading of 59.42.
While still in neutral territory, the plunge towards 50 shows fading upside momentum that could foreshadow further declines if buying pressure fades.
Meanwhile, the MACD histogram remains flat at 0.050, unchanged from yesterday. The stalled momentum indicates traders are awaiting a catalyst before making their next moves.
On the downside, initial support lies between $2.905 and $3.002, with the key $3 level and Fib 0.618 of $2.990 offering backup support.
Below this zone, the 50-day EMA at $2.888 marks the final buffer before a retest of 2022 lows near $2.50 comes into play.
To the upside, resistance falls between $3.372 and $3.551 where sellers are likely to rise. Only a decisive break above this barrier would put DYDX bulls back in control.
With the DYDX price stabilizing at a key inflection point, its next move is uncertain. Patiently managing risk is prudent until the price tips its hand.
A daily close under $3 support or above $3.55 resistance should set the near-term trend.
Revived Momentum: RSI Indicates Potential Upside for Flare FLR Price”
After two days of pullback, the Flare FLR price has rebounded strongly today, surging 12.71% to break above immediate resistance.
With FLR stabilizing around the Fib 0.5 support zone of $0.02085 to $0.02594, bulls appear to be regaining control as the price breaks out above $0.02346.
Checking the key moving averages, the 20-day EMA for FLR stands at $0.01911 while the 50-day EMA resides at $0.01718.
With the faster 20-day EMA maintaining its perch above the 50-day EMA, the uptrend remains intact in the near term.
The RSI indicator has climbed to 68.24, up markedly from yesterday’s 61.50.
While approaching overbought territory above 70, the jump towards 70 highlights revived upside momentum that could fuel further FLR gains.
At the same time, the MACD histogram has ticked higher to 0.00047, extending its advance from yesterday’s 0.00033. The growing positive momentum supports the bullish view.
In terms of market activity, the FLR market cap has expanded 12.71% to $1.05 billion amid a 40.67% explosion in trading volumes to $3.7 million.
The expanding participation underscores traders’ appetite for further gains.
Looking at the chart, initial resistance holds between $0.02346 and $0.02433 where sellers are likely to defend.
Above this, further upside barriers exist between $0.02552 and $0.02670, coinciding with the Fib -0.236 of $0.02594.
Only a decisive break above $0.02670 would confirm a continuation of the uptrend.
On the downside, initial support lies between $0.02085 and $0.02594.
Below here, the 20-day EMA at $0.01911 stands as the final buffer before a retest of 2022 lows near $0.015 comes into focus.
As the FLR price rebounds off key support, bullish momentum appears to be resurfacing. However, resistance overhead warrants caution.
Traders may look to buy dips above $0.021 with a target of $0.026 while respecting stops under $0.020.
Breaking past the $0.026 resistance or losing $0.020 support should set the near-term trend.
SUI Price Prediction: Intense Selling Pressure Plunges Token by 10%
The SUI price continues to face intense selling pressure, with the token plunging nearly 10% so far today.
This breakdown through immediate support levels paints a bearish picture for SUI in the near term.
The 20-day EMA at $1.0468 was unable to hold up as support, with the SUI price slicing through it today.
Additionally, the gap between the 20-day EMA and 50-day EMA of $0.8655 continues to widen. This shows strong downside momentum is in play.
The RSI for SUI has plunged to 59.99, sharply down from yesterday’s overbought reading of 69.02.
This rapid deterioration indicates fading upside energy and potential for additional losses.
The MACD histogram reading of 0.0248 is down from 0.0390 yesterday, reflecting building bearish momentum.
The SUI price will need to see the MACD histogram improve back above zero to signal any upside potential.
With the initial support zone between $1.2137 and $1.2449 giving way, SUI bulls are now looking to the next support area between $1.0611 and $1.0998.
If the bears remain in control, the SUI price could be on course to test the major psychological support level around $1.
A daily close below here would be a strongly bearish signal that could invite further technical selling.
To negate the immediate bearish outlook, SUI would need to rapidly recover back above the broken support zone between $1.21 and $1.24.
Otherwise, downside momentum looks set to accelerate in the near term.
With major cryptos experiencing high volatility amid unclear outlooks, investors may mitigate risk by diversifying into select presales primed for launch.
Bitcoin Minetrix and Launchpad XYZ represent presales to watch as their offerings come online in the months ahead.
Diversifying Your Crypto Portfolio with Bitcoin Alternatives
As mainstream interest continues to accelerate in the crypto space, investors looking to diversify their portfolios are wise to look beyond Bitcoin to other cryptocurrencies showing promising growth trajectories.
Getting in early on developing crypto projects before widespread adoption can provide exposure to the steep value appreciations that often come with new cryptocurrencies gaining traction.
While Bitcoin remains a foundational cryptocurrency, expanding into other rising cryptocurrencies allows investors to balance stability with higher upside potential.
With Bitcoin alternatives like Bitcoin Minetrix and Launchpad XYZ gaining momentum, investors should capitalize on this opportune time to expand beyond Bitcoin.
By allocating a portion of holdings to top upstart cryptos demonstrating impressive fundamentals, investors can strategically position themselves at the forefront of the next surge of cryptocurrencies set for takeoff.
With cryptocurrencies expanding vigorously, restricting portfolios to Bitcoin alone would mimic the misguided strategy of investing in internet stocks in the early 2000s by solely choosing Yahoo and AOL.
Savvy investors looking to capitalize on the growth of cryptocurrency are wise to diversify into promising alternative cryptocurrencies in addition to holding Bitcoin.
Spreading investments across established cryptos as well as up-and-coming players with standout potential is a prudent strategy for staying on the cutting edge of this accelerating space.
With Bitcoin Halving Coming, Is Bitcoin Minetrix the Best Crypto to Buy Now?
With a presale that has raised an impressive $8.7 million so far, Bitcoin Minetrix is kickstarting the launch of a crypto mining project with a unique “Stake-to-Mine” model.
This pioneering approach enables holders to earn mining rewards simply by staking their BTCMTX tokens, unlike traditional crypto mining which requires expensive hardware and electricity costs.
Knowing the benefits of #BitcoinMinetrix:
Easy access for convenience.
Streamlined cost structure for enhanced efficiency.
Peace of mind with no worries about the resale value.
pic.twitter.com/hx3zJLXTfN
— Bitcoinminetrix (@bitcoinminetrix) January 18, 2024
The presale’s success highlights the enthusiasm for Bitcoin Minetrix’s model.
Staking currently offers yields up to 74% APY, which has driven major early participation with over 560 million BTCMTX tokens already staked, representing roughly $7.2 million in value at the current presale price.
However, the yields are designed to decrease as more tokens enter circulation and get staked.
For many cryptocurrency investors looking for the best crypto to buy now, Bitcoin Minetrix appears to be a leading contender.
The project has attracted over 12,100 members on its Telegram channel, reflecting considerable interest.
The presale comes ahead of Bitcoin’s next halving event in April 2024, which will likely precede a bull run in Bitcoin’s price historically.
With mining rewards potentially becoming more valuable, Bitcoin Minetrix could see greater adoption of its staking model.
If the project can continue gaining traction leading up to and following its exchange listing, BTCMTX may rise as one of the best cryptos to buy now for investors looking to capitalize on the next Bitcoin bull cycle.
LPX Presale Ending Soon – Launchpad XYZ’s Web3 Token Is the Best Crypto to Buy Now
The crypto community is buzzing about Launchpad XYZ, an AI-powered crypto platform that is set to give traders an advantage across crypto, NFTs, and blockchain gaming.
The project’s native token, LPX, has raised an impressive $2.58 million so far in its ongoing presale, which is set to conclude on January 24 at 10 AM UTC.
It's getting exciting!
With just 6 days left in the #LaunchpadXYZ presale, you're on the verge of securing your place in the #Crypto revolution.
Don't miss out!
#Presale#Web3#AltSeasonpic.twitter.com/ijmOpJj5n3
— Launchpad.xyz (@launchpadlpx) January 18, 2024
With the next potential crypto bull run on the horizon, Launchpad XYZ seeks to stand out from the crowded field of AI cryptos by actually utilizing artificial intelligence to boost users’ success in Web3 spheres.
The platform’s cornerstone offering, Launchpad Quotient, conducts comprehensive crypto project analysis, scrutinizing trust elements and profit potential across an extensive range of metrics.
By helping traders avoid scams and unearth gems early, Launchpad Quotient could give LPX holders an edge as the market turns.
For new crypto traders, Launchpad XYZ also intends to serve as an educational springboard into the space.
Features like the Apollo LLM chatbot provide personalized guidance, answering natural language questions about trading concepts, trends, and terms.
Crypto pundit Jayden Torreto thinks this will be a useful tool for new entrants to cryptocurrency as the industry continues to advance.
Early LPX adopters stand to gain the most upside with the presale countdown underway.
Continuous Upgrades: At #LaunchpadXYZ, we never stop innovating.
Get ready for exciting new features and enhancements to level up your #Crypto game.
Big things are coming!
#Presale#Web3#Blockchainpic.twitter.com/ZICVDsHli6
— Launchpad.xyz (@launchpadlpx) January 18, 2024
The token is currently priced at $0.0445. Those interested can purchase LPX directly through Launchpad XYZ’s site, either via credit card or by swapping ETH/USDT.
Buyers will also gain access to exclusive NFT-gated perks based on purchase tier.
As cryptocurrencies build momentum entering 2024, LPX is angling to stand out as one of the best crypto to buy now.
Backed by vigorous presale activity, the platform seems geared to climb as a pioneer in harnessing AI to help users adeptly operate within the intricate cryptocurrency space.
The post Best Crypto to Buy Now January 18 – dYdX, Flare, Sui appeared first on Cryptonews.