Analysts Predict ApeCoin To Hit $50 By End Of 2025 – And $100 By 2030

As Bitcoin and Ethereum price remain bearish for the longest time now; barely hitting above $40,000 for BTC and not going over $3,000 for ETH, ApeCoin, on the other hand, is on fever-pitch with price prediction of up to $100 by 2030. 

And to think, the coin is just warming up.

Both Bitcoin and Ethreum have been struggling and are down by 20% since April. Meanwhile, it’s all rainbows and sunshine recently for ApeCoin, a coin connected to the Bored Ape Yacht Club NFT collection that is now dubbed as a $7-billion coin.

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Price Predictions

Now, cryptocurrency titans and experts recently announced a price prediction for ApeCoin as it skyrockets to 50% in a week’s time following its NFT sale.

Dimitrio Salampasis, a FinTech speaker and lecturer at Swinburne University of Technology, is very optimistic and bullish with ApeCoin. His current prediction is $45. However, he says ApeCoin will be worth $10 come 2030.

The ongoing rush or hype with NFTs greatly impact the coin’s performace. Salampasis feels that crypto is overhyped at some point and it would gradually lose its value over time when the hype dies down.

However, Salampasis believes that now is the best time to sell ApeCoin. However, some of his co-panelists think that it’s time to HODL APE. Still, a few percent say now is definitely the time to buy.

Finder Co-Founder Fred Schebesta gave his forecast as well. He said APE could be valued at $20 by end of 2022, go higher at $50 by end of 2025, and finally shoot up to $100 by 2030.

BTC total market cap at $738.16 billion on the daily chart | Source: TradingView.com What’s APE?

ApeCoin is an Ethereum-based token of the Bored Ape Yacht Club (BAYC) NFT by Yuga Labs. They have over 10,000 unique digital bored ape art collections.

ApeCoin DAO is also managed by the Ape Foundation. Investors who buy the Bored Ape NFTs are also eligible to claim APE tokens at zero costs.

More so, investors can also resell them or even use them in their own product branding. ApeCoin has been soaring lately because unlike other cryptos, it has expanded to other markets like tapping on NFT and the metaverse.

The possibilities and potential of crypto, NFT, and the blockchain in general are so limitless that it’s impossible to make a general forecast or prediction yet.

APE – Shaking Grounds In The Metaverse

APE is the token of the future. It is specifically engineered to support community-led activities in the APE ecosystem. It’s a decentralized protocol that will ultimately define a thriving culture in the metaverse.

Doubters in the panelists say that APE’s surge is only based on hype while there are crypto gurus who believe that it is in for the long haul. 

Yuga Labs is now primed to be the blue chip in the NFT category especially after purchasing CryptoPunks.

With their ecosystem and community, ApeCoin is bound to shake grounds in the metaverse.

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Featured image from The VR Soldier, chart from TradingView.com

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Manta Network Joins Forces With Web3 Consortium To Advance Zero-Knowledge Technology

Blockchain technology, albeit disruptive, has a few lingering problems that are holding it back from achieving mass adoption. Legacy blockchain networks often face criticism for their lack of scalability, interoperability, and slow throughput rates. While some progress has been made in these areas, a lack of privacy has emerged as another critical concern that needs to be addressed rapidly.

Thanks to the rapid advancement in technology, Zero-Knowledge (ZK) has emerged as a potential solution to all the problems that currently inhibit the blockchain industry. Since ZK is a relatively recent introduction, most of the blockchain universe isn’t fully aware of its potential. Realizing this, 22 Web3 and ZK companies recently formed a coalition to advance zero-knowledge to support scalability and mainstream adoption of Web3 through the ZPrize competition.

In this context, Manta Network, the Polkadot-based plug-and-play privacy protocol for Web3 and one of the core sponsors of the ZPrize competition, has announced that it is joining forces with Mina Protocol to sponsor ZPrize’s “Open Division” competition.

Manta Network and Mina Protocol will award the prize to projects that focus on maximizing throughput and minimizing latency of operations on client-type devices and blockchain-based Virtual Machines (VMs), specifically the WebAssembly (WASM) runtime. Along with sponsoring the Open Division event, both Manta and Mina teams will collaborate to solve the multi-scalar multiplication (MSM) and number-theoretic transform (NTT) operations, which are prerequisites ZK computations.

Shoumo Chu, a Manta Network Co-founder and Core Contributor, clarifies, “We have chosen to be the architect and sponsors in the open division because we truly care about WASM ZKP performance. We view the WASM ZKP performance as the ‘last mile problem’ for mass ZKP adoption. In order to get massive ZKP and privacy adoption, we have to get ZKP prover integration with popular wallets, and having improved WASM, prover performance is the way forward.”

Competition To Accelerate Zero-Knowledge Development

The ZPrize competition is an open-to-all competition with $7 million in awards to raise awareness and accelerate the advancement of Zero-Knowledge technology to facilitate a wide range of use cases. There are several categories in the ZPrize competition, each catering to different aspects of advancing Zero-Knowledge technology.

Several companies, funds, and foundations are sponsoring the ZPrize competition. These organizations include 0xPARC, Aleo, The Algorand Foundation, Aztec Protocol, Anoma, CoreWeave, Celo, DZK, Ethereum Foundation, Espresso Systems, Findora, Harmony One, Manta Network, Kora, Mina Protocol, Polychain Capital, Polkadot Pioneers Prize, Polygon, RISC0, Trapdoor Tech, and Zero Knowledge Validator.

In this competition, participants will build open-source projects that benefit the blockchain world as a whole while competing for cash prizes. The primary goal of the ZPrize competition is to increase awareness of zero-knowledge cryptography’s potential while improving the performance of key general algorithms and increasing the diversity and availability of low-level libraries for cryptographic proofs.

According to Alex Pruden, the COO of Aleo & Founder of the ZPrize initiative, “The sponsors of ZPrize not only represent an industry but a united community of believers in this technology. We share a collective desire to turn these exciting academic ideas into a deployed reality. With the ZPrize, we’re advancing the state-of-the-art to form the bricks of the technological foundation that will scale and secure the next-generation web.”

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Which Banks Manage the USD Reserve Backing Your TrueUSD?

Stablecoins have maintained a strong growth momentum against the occasionally frustrating crypto market. Recently, the TUSD-TRX pool on the decentralized trading platform SunSwap has yielded up to 12%, and the vault of TUSD achieved an APY of as high as 11.2% on the decentralized yield optimizer Beefy Finance (BNB). These APYs are eye-catching indeed!

Apart from the yield, security is also a major consideration for those who seek to entrust their assets to a stablecoin service provider. In the case of TUSD, asset security is ensured by two safeguards, one being its transparent reserves. TrueUSD is attested live by Armanino, one of the largest U.S.-based accounting firms, to ensure the 1:1 ratio of its USD reserve to its circulating token supply and thus a 100% collateral rate. The other safeguard is its partner banks. The banks (or custodians) matter as they are responsible for holding the USD assets that back the value of TUSD for safekeeping. So, which banks are holding TUSD’s USD reserve, and what strengths do they have? Truly is here to help you find out the answer today.

At present, TrueUSD collaborates with five trusted partner banks—Signature Bank, Silvergate Bank, Prime Trust, First Digital Trust, and BitGo. Now we will walk you through the advantages of these banks.

Signature Bank

Signature Bank is the first FDIC-insured bank to launch a blockchain-based digital payments platform. Introduced in January 2019, Signet the platform is committed to providing fast and stable real-time crypto payment services. It is a payment ecosystem built on the blockchain and also the first platform approved by the New York State Department of Financial Services.  It is based on Ethereum and allows clients to make real-time payments in U.S. dollars 24/7 all year long.

On June 18, 2021, TrueUSD announced a partnership with Signature Bank, a New York-based full-service commercial bank. TUSD was then integrated into Signature Bank’s payment network Signet, which allows its users to enjoy 24/7 minting services that can be completed within 2 minutes on average, greatly improving its financial efficiency and user experience. Also, with Signet, TUSD is able to provide free-of-charge transaction services to cater to users’ needs. Signature Bank is dedicated to serving institutional customers. It will designate account managers to customers with a large transaction volume to help them online and on-site in a timely manner.

Silvergate Bank

In January 2014, Silvergate became one of the first banks to set up accounts for cryptocurrency transactions. It is one of the few “crypto-friendly” banks and a leading provider of innovative financial services in the crypto space. As of today, Silvergate has provided services for 750 crypto exchanges. In 2017, it launched a dedicated trading network that allows investors to transfer funds between crypto exchanges globally on a 24/7 basis. Now, Silvergate is accelerating the growth of the crypto market and reshaping global commerce for digital currencies.

By leveraging the Silvergate Exchange Network (SEN), TUSD provides users with efficient token minting services. Unlike traditional banks, TUSD puts a premium on users’ needs and offers 24/7 minting, redemption, and settlement services to boost the efficiency of using TUSD.

Prime Trust

Prime Trust is an industry-leading trust company. As a chartered, regulated financial institution, it’s overseen by the banking commissioner’s office at the Nevada Financial Institutions Division. Prime Trust is also a member of the American Bankers Association and Nevada Trust Company Association, as well as a crypto-friendly bank seasoned in the digital economy, trust business, securities regulations, and government affairs.

PrimeX allows TUSD holders to mint and redeem their tokens 24/7 and provides optimal instant settlement.

First Digital Trust

First Digital Trust was built in 2017, under the umbrella of First Digital Trust Limited. It’s brought together skills from the traditional financial world and knowledge of the digital assets economy to offer open finance solutions.  After spinning off and becoming our own company in 2019, First Digital Trust became a fully independent public trust company headquartered in Hong Kong.

Users can mint and redeem their tokens through First Digital Trust, TrueUSD’s trust partner. Please note that First Digital Trust applies minimum and maximum thresholds for mints and redemptions, the upper limit amount of a single minting or redemption is $400K.  So, for those minting and redeeming relatively small amounts of TUSD, First Digital Trust is your go-to choice.

BitGo

Headquartered in Palo Alto, BitGo is one of the world’s largest and oldest custodians of digital assets. BitGo was granted the trust license by the New York State Department of Financial Services and has been active in both centralized and decentralized finance spheres. BitGo offers best-in-class trading and lending services through its prime brokerage services and facilitates the operation and security of over 500 institutional clients spanning 50 countries,  including many regulated entities and the world’s top cryptocurrency exchanges and platforms.

BitGo offers custody services for TUSD, and its multi-signature wallets have supported TUSD, enabling users to purchase TUSD within the wallet, and better secure their assets.

Currently, BitGo does not charge any purchase or exchange fees, but the minimum amount required for minting and redemption is $1000 worth of TUSD, and there is no upper limit when individual or institutional users mint or redeem TUSD via PrimeTrust, Silvergate Bank or Signature Bank.

After you read the introductions above, we believes that you have gained insight into the banking partners of TUSD. The perfect integration of TUSD, a compliant and transparent stablecoin, and the banks’ innovative technology and platform facilitates users to address trading-related issues, improving financial services and user experience. Meanwhile, this is also a critical time for TrueUSD to build its credit so that more users will choose to hold TUSD.

Down the road, TrueUSD will further expand its collaborations with banks for better solutions, offering safe, efficient, and convenient financial services for TUSD users.

 

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TA: Ethereum Recovers But ETH Must Clear This Key Resistance

Ethereum started a recovery wave above the $2,800 level against the US Dollar. must clear the $2,850 resistance to continue higher in the near term.

• Ethereum started a decent recovery wave above the $2,780 and $2,800 levels.
• The price is consolidating above $2,820 and the 100 hourly simple moving average.
• There was a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $2,850 and $2,860 resistance levels to continue higher.

Ethereum Price Faces Resistance

Ethereum followed a bearish path below the $2,850 pivot level. ETH even traded below the $2,800 support level and the 100 hourly simple moving average.

It traded as low as $2,718 before the bulls appeared. Ether price started an upside correction and climbed above the $2,750 level. The price was able to surpass the $2,800 resistance. There was a clear move above the 23.6% Fib retracement level of the key decline from the $2,980 swing high to $2,718 low.

Besides, there was a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD. The pair is now consolidating above $2,820 and the 100 hourly simple moving average.

On the upside, an initial resistance is seen near the $2,850 level. It is near the 50% Fib retracement level of the key decline from the $2,980 swing high to $2,718 low. The next major resistance is near the $2,880 level. A clear move above the $2,880 resistance might start another increase.

Source: ETHUSD on TradingView.com

The next major resistance on the upside might be $2,920. Any more gains may perhaps send the price towards the $3,000 resistance in the near term.

Fresh Decline in ETH?

If ethereum fails to gain pace above the $2,850 resistance, it could start another decline. An initial support on the downside is near the $2,800 zone.

The first major support is near the $2,750 level. If there is a downside break below the $2,750 support, the price could revisit the key $2,720 support zone. Any more losses may perhaps open the doors for a larger decline towards the $2,650 level or even $2,620.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is above the 50 level.

Major Support Level – $2,800

Major Resistance Level – $2,850

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TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline

Bitcoin extended decline below the $38,000 level against the US Dollar. BTC is recovering, but it must clear $39,000 for upside continuation.

• Bitcoin remained in a bearish zone below $40,000 and $39,000.
• The price is now trading below $39,000 and the 100 hourly simple moving average.
• There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair must clear the $39,000 resistance to continue higher in the near term.

Bitcoin Price Eyes Recovery Wave

Bitcoin price gained bearish momentum after it broke the $39,000 support zone. BTC even traded below the $38,000 level and settled below the 100 hourly simple moving average.

There was a spike below the $37,500 support zone. A low was formed near $37,399 and the price is now correcting higher. There was a move above the $38,000 and $38,200 resistance levels. There was also a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC/USD pair.

Bitcoin price even climbed above the 23.6% Fib retracement level of the key decline from the $40,349 swing high to $37,399 low. It is now facing resistance near the $38,800 level and the 100 hourly simple moving average.

The 50% Fib retracement level of the key decline from the $40,349 swing high to $37,399 low is also near the $38,800 zone to act as a resistance. The next key resistance could be near the $39,000 zone. A close above the $39,000 level could open the doors for a decent increase.

Source: BTCUSD on TradingView.com

In the stated case, the price could even surpass the $39,250 resistance. The next major resistance may perhaps be near the $40,000 zone.

Fresh Decline in BTC?

If bitcoin fails to clear the $39,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $38,400 level.

The next major support is seen near the $38,000 level. A clear break below the $38,000 support zone could even push the price below $37,500. Any more losses might call for a test of the $36,400 support.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $38,400, followed by $38,000.

Major Resistance Levels – $38,800, $39,000 and $39,200.

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This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation

And everybody was saying keep an eye on this specific Altcoin and yes — Sifchain – and they were right. 

Sifchain (EROWAN), a low-cap DeFi altcoin, skyrockets by 47% in the wake of the staleness in the general crypto markets.

EROWAN has bounced from a low $0.114 on April 23 and is currently at $0.168.

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What is Sifchain (EROWAN)?

At the 271st level of all cryptocurrencies, SifChain has been on its seven-day high streak at 47%. SifChain is now at a price point that is above resistance; it may be nearing its volatility period once the rally is over.

SifChain has been trading on low volumes over the course of seven days but it now has an extremely bullish sentiment score and is continuously rising.

Many traders are anticipating the market behavior of Sifchain EROWAN as it has become a high-performing Altcoin despite the immobility of Bitcoin, Ethereum, and all other stablecoins.

Altcoin Saves Investors From Egregious Fees

Sifchain is the first-of-its-kind omni-chain decentralized exchange (DEX) geared towards digital assets and altcoins that enables liquidity, freeing investors from ridiculous trading fees and immature trades.

Sifchain has set eyes on roughly 20 to 25 blockchains to facilitate cross-chain integrations.

Crypto total market cap at $1.84 trillion on the weekend chart | Source: TradingView.com

The only way for DAOs to be self-subsistent is to get their hands on enormous funding. Enabling cross-chain liquidity is important for continuity in the blockhain space.

Sifchain is from the Cosmos Software Development Kit (SDK) and runs along others like Akash, Kava, and Terra in the Cosmos Network Blockchain network.

EROWAN – 100x More Powerful Than ETH-Based DEXs

With that being said, EROWAN is 100 times more powerful and robust compared to Ethereum-based DEXs when considering transaction speed and trading fees.

As a DEX, Sifchain has the best of worlds in terms of order books and liquidity pools enabling solid order execution.

Users are bound to leave a protocol once the APYs plunge which makes it very difficult to maintain its liquidity. Majority of protocols incentivize liquidity by way of annual percentage yields of APYs.

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Now, the problem with keeping the APYs relatively high is that it results in casting aside the native token price. PMPT is the solution to this dilemma.

PMTP’s goal is to pump up the ROWAN value so that the community would be encouraged to HODL which will beef up ROWAN liquidity for the long term.

To do this, the ROWAN exchange rate is adjusted by small increments on the Sifchain.

PMTP applies every time you swap. As the market value of ROWAN shoots up, the swaps also increase in value over time.

Featured image from Medium, chart from TradingView.com

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Bitcoin Halving Model Suggests $24,000 Bottom Before Year’s End

Some analysts say that Bitcoin’s current price action aligns with the Bitcoin halving model, leading them to expect a $24000 bottom before year-end. 

The topic of Bitcoin’s four-year halving cycle and its effects on BTC’s long-term price is one that has been highly debated within the crypto community. 

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Crypto analysts predicted that the price of Bitcoin would reach $100,000 by 2021. However, it did not get to this level, and now analysts wonder what will happen in the next six to twelve months.

At the moment, the price of BTC is below $40,000. Many technical analysis metrics suggest that it is more likely that the price will go down further than it will recover to the $40,000 to $45,000 range. Let’s look at what analysts think about Bitcoin’s long-term prospects.

Bitcoin started the day in red with a 0.78% decline | Source: BTC/USD chart from Tradingview.com Bitcoin Could Tumble To $24,000 By The Year-End

Crypto analyst and pseudonymous Twitter user “Wolves of Crypto” discussed the four-year cycle theory on Twitter. This theory suggests that the “most probable bear market bottom for Bitcoin will take place in November/December 2022.”

As per the projection, Bitcoin marked its highest of the last cycle by reaching $68,789 on November 10, 2021. So now, the BTC market is in the corrective phase, usually seen after the cycle top. 

The analyst said;

The 200–week SMA has been the long-tested bear market bottom indicator for Bitcoin, and hence, the bottom will likely be placed at ~$24,000.

If this model is correct, we will see bitcoin break out past its all-time high sometime between August and September of 2023.

The independent market analyst Willy Woo suggested that the bottom in Bitcoin could come before the end of 2022. He mentioned, “Orange coin seems a bit undervalued here.” 

Highly liquid supply shock oscillator. Source: Twitter

The “Highly Liquid Supply Shock” metric measures how much demand and supply have changed from the long-term average.

The chart above shows that when the oscillator went down to the same level as it is now, the price of Bitcoin went up shortly afterward.

He said;

Not a bad time for investors to wait for the law of mean reversion to play out.

BTC At Mid-term Low

The crypto market analyst Philip Swift has suggested that Bitcoin could be in an optimal accumulation range. The AASI or active address sentiment indicator indicates this point for the buy zone.

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“The AASI is back in the green zone. This suggests that the Bitcoin price change is at a sensible level relative to active address change,” said Swift. “This tool has a good hit rate across bull and bear markets for signaling a mid-term low.”

The AASI reading is currently similar to the readings it had in the past. For example, the price of Bitcoin was low around the same time, and it increased in price a few weeks or months later.

Generally, Bitcoin is following a four-year cycle, but the increase is happening at a slower rate than expected.

 

Featured image from Pixabay, chart from Tradingview

 

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