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Messages - JordanKing

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Cryptocurrency discussions / Re: Too many altcoins!

« on: November 18, 2022, 10:57:07 AM »

Well, some people consider altcoins to be all cryptocurrencies other than Bitcoin and Ethereum as most cryptocurrencies are forked from one of the two. A few altcoins use distinct consensus mechanisms to validate transactions and open new blocks, or attempt to differentiate themselves from bitcoin and Ethereum by offering new or additional capabilities or objectives.

There are many benefits of Altcoins including Altcoins with more utility have a better chance of surviving as they uses like Ethereum's ether. Also, investors can choose from a wide variety of altcoins that perform different functions in the crypto economy.

Cryptocurrency discussions / These Altcoins Recorded Biggest Recoveries Withstanding The FTX-Collapse Contagi

« on: November 18, 2022, 07:29:35 AM »

Withstanding The FTX Collapse Contagion, Most of the Altcoins recorded biggest recoveries. Including Trust Wallet Token(TWT), Chiliz(CHZ), Aptos(APT), Lido DAO(LDO), and Litecoin(LTC). Coinpedia has discussed in detail about all these coins with solid price analysis, and the reasons behind their recovery. Let's dive deeper into some of these altcoins.

Will These Altcoins Become A Messiah Amid This Crypto Winter?

Write your views on these altcoins in the reply section given below.

Trust Wallet Token(TWT) Price Analysis.

As per Coinpedia, TWT has brought enough pump in its price amid the crypto winter as it builds more trust among decentralized exchanges and crypto funds. Recently, Binance CEO, expressed his point of view about the significant of a self-custodian wallet and highlighted the advantages of utilizing Trust wallet, indicating its token to soar over 50%. At present, TWT is trading at $2.13 after surpassing its immediate resistance level at $1.2 on 12 Nov. TWT may initiate a bull run up to $3 if it surpasses its strong resistance at $2.4.

Chiliz(CHZ) Price Analysis

The price of Chiliz also made an uptrend of over 51% in the past week as it reclaimed the price level of $0.23 after a notable drop from $0.28 to a low of $0.14 because of the FTX's demise. CHZ may project itself to test its 23.6% Fib retracement at $0.25. Provided CHZ maintains its trend above $0.25, then it may pave a clear upward road to the next resistance level of $0.28.

Aptos(APT) Price Analysis

Following the FTX collapse Aptos sharply dropped as the community of the platform questioned its exposure to FTX. But the team rapidly cleared all the doubts as it assured zero exposure with FTX. APT trades at $4.7 mark, and it may trade at a higher level near $5 because the MACD line trades above the signal line, showing the current domination of bulls.

Cryptocurrency discussions / Re: What the Acquisition by Binance Means for FTX's Gaming & NFT

« on: November 11, 2022, 09:42:22 AM »

Quote from: evelynnn on November 09, 2022, 04:36:14 AM

The biggest cryptocurrency news today is that Binance has decided to purchase FTX after FTX had a liquidity problem. The price of FTT, the native token of FTX, fell 76.30% from yesterday as a result of this news. Many people are wondering what the acquisition of Binance means for FTX's gaming and NFT industries. This is a result of FTX investing a substantial sum of money in Web3 development, but the future of gaming, NFT, and esports is now unclear.

NFT and FTX US
The outcome isn't always what we anticipate, though. Clearly, FTX's fortune is deteriorating alongside the downward trend in the market. In the event that Binance's transaction is formally consummated, FTX might have a new owner. On the plus side, Sam Bankman-Fried, the founder and CEO of FTX, stated today that Binance's transaction has not yet had an impact on their operations in the US.

The NFT market is one of FTX's key businesses. They had the honor of working with NBA player Stephen Curry and Coachella, a music festival, both of which were founded by FTX US. We still don't know what the future holds for their gaming and NFT areas at this time. In the event that Binance actually buys the exchange, will they be able to retain their current name? Will they have complete control over how the company runs and what items are produced? I'm sure other investors share my curiosity. But based on the current circumstances, it would appear that this agreement would not have an impact on the NFT marketplace portion of the firm.

Final Thoughts
My own opinion is that having enough cash flow and liquidity is crucial for a firm to survive and succeed. The FTX exchange's current state does not appear promising. When deciding whether to trade on a platform, remember to consider exchange risks in addition to market risks and hazards specific to cryptocurrencies.

Cryptocurrency discussions / Re: The FTX Saga: Long-term effects on crypto industry?

« on: November 11, 2022, 09:40:13 AM »

The market conditions currently have become worse as the domino impact of the latest FTX breakdown is being witnessed. As mentioned in the Coinpedia's article, after Terra(LUNA), Celsius Network, Voyager Digital, Three Arrow Capital, and FTX-Alameda, it is time for BlockFi to join the list. So yes, the effects of FTX saga will have a long-term in the crypto industry.