Connect with us

Uncategorized

5 Top Cryptocurrency to Buy This Week (BTC, SOL, DOGE, RUNE, REV): August 2021 week 3

Published

on

With the recent bullish run, savvy investors are on the prowl, looking for the best cryptocurrencies to buy this week. August is fast coming to an end, and it is easily the best month that the crypto market has had since the downturn hit. With prices looking up for the third straight week, there is a great deal of excitement that we could be getting back to the pre-downturn levels soon. In this article, we look into some of the best options available now.

1. Bitcoin (BTC)

Bitcoin price charts August 16

Kicking off our recommended coins to buy this week is none other than Bitcoin. The most popular cryptocurrency has headlined the current market rally, per usual. Strong performances across its market have definitely helped it.

To be fair, the price frenzy took a bit of a breather heading into the weekend. After Bitcoin passed $47,000 on Saturday, the bears tried to bull it back and succeeded in getting it under the $46,000 peg on Sunday morning. However, the bulls managed to hold the line. Bitcoin is now back above the $47,000 line, showing that investors can expect more gains.

With a price of $47,226, Bitcoin is up 2.9 percent in the last 24 hours and 8.2 percent in the past week. The asset’s technicals are also pretty strong, with a relative strength index (RSI) of 68.70 and a 20-day moving average (MA) of $46,067.

Capital at risk

2. Solana (SOL)

Solana price charts August 16

Solana is a high-performance, high-scalability blockchain platform that has become incredibly popular in 2021. With many blockchains scaling up to accommodate apps and marketplaces, Solana has managed to become one of the big-ticket platforms.

SOL is the native token used in the Solana ecosystem. The coin is used to perform micropayments, and it is passed to nodes in exchange for validating the blockchain’s output. SOL has performed pretty well in recent weeks, bringing it to the notice of investors looking for coins to buy this week.

The past weekend was a fun one for SOL investors. The coin surged to a new all-time high, breaking through the $60 barrier for the first time. SOL also briefly cracked the top 10 rankings on CoinMarketCap, although Unisap’s UNI token managed to bring it down again.

There isn’t much to tie to SOL’s jump. New reports suggest that an NFT sale had happened over the weekend, with 10,000 art pieces selling out. The minting fee for the pieces was 6 SOL, so the surge affected the SOL price.

Regardless, SOL is now worth $61.5 – up 39 percent in the past day and 60 percent in the past week.

SOL’s technicals are holding up, with a 20-day MA of $44.6. But, its RSI is a staggering 86.6, showing that buy orders are swarming.

Capital at risk

3. Dogecoin (DOGE)

Dogecoin price charts August 16

Everyone’s favorite memecoin is also quite attractive for investors looking to buy this week. Dogecoin has spent a great deal of time in the doldrums, with the hype for the coin dying down after it fell from its all-time high of $0.74. However, DOGE is starting to creep back up.

Over the weekend, DOGE jumped from $0.25 to $0.33 – a respectable 32 percent jump. Its current price peg of $0.3369 is a 15 percent jump in the past 24 hours and a 37 percent gain in the past week.

Per usual, there’s no explanation for DOGE’s jump. The market rally is in full swing, and memecoins like this will also see gains. DOGE is well over its 20-day MA of $0.238, and its RSI is holding steady at 79.02. That should be enough to fetch some gains.

Capital at risk

4. THORChain (RUNE)

Rune price charts August 16 buy this week

THORChain is an independent blockchain that was developed using the Cosmos SDK. It offers a cross-chain decentralized exchange (DEX), using an automated market maker like other DEXs.

The protocol’s native token, RUNE, serves as a base swap pair, serving as an intermediary and allowing traders to move between different asset pools.

July was a particularly tough month for THORChain, with the protocol losing millions in two different security exploits.

The first came on July 16, with THORChain losing about $7.6 million in assets. The second came a week later, and THORChain lost about $8 million in that hack.

But, the project has assured users that it has the funds to keep operating. There haven’t been any complaints, so THORChain seems to be moving on pretty well. RUNE’s price definitely shows that, jumping by 13 percent in the past day and 31 percent in the past week to land at $9.42.

The price is still far from RUNE’s all-time high of $21.2, but the coin appears to be gaining momentum. With an RSI of 70.4, RUNE is still relatively underbought. The coin is well above its 20-day MA of $7.05, so it is set up for gains. RUNE just might be a great sleeper coin to buy this week.

Capital at risk

5. Revain (REV)

Revain price charts August 16

Revain is a blockchain-based review platform that curates and rewards users who give honest feedback on products. Like TripAdvisor and Yelp, the platform encourages independent authors to give reviews and rate products and services.

When posts are made, Revain aggregates and averages them displaying the corresponding scores and rankings on its page. Resin is built on both TRON and Ethereum, and it uses their technologies to prevent anyone from tampering with the reviews. Users are rewarded with REV tokens for their feedback.

REV serves two functions – it is offered by companies to encourage reviews, and it serves as a vehicle for withdrawing RVN – Revian’s dollar-based stablecoin – to exchanges.

REV has been able to benefit from the rally in coin prices, with its price performing rather well this past week. The coin is currently valued at $0.011 – up 16.5 percent in the past 24 hours and
76 percent in the past week. The coin also looks promising, beating its 20-day MA of $0.0074. But, its RSI, which stands at 88.91, might be cause for concern for some investors.

Capital at risk

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://insidebitcoins.com/news/5-top-cryptocurrency-to-buy-this-week-btc-sol-doge-rune-rev-august-2021-week-3

Uncategorized

Shiba Inu (SHIB) Rises to Range High

Published

on

By

Shiba Inu (SHIB) yesterday reached the range high where it has been trading since May 2021. If the token breaks out of that area, it could begin a parabolic rise.

Sponsored
Sponsored

SHIB currently ranks as the 47th largest cryptocurrency by market capitalization, according to Coingecko. The main “dog competitor” and also the younger brother of Dogecoin (DOGE) broke out of the descending triangle pattern and validated the falling resistance line as support.

SHIB reaches the range high

Since the May 2021 declines, SHIB has been in a range between resistance in the $0.00000950 area (red rectangle) and support at $0.00000550 (green rectangle). Over a period of almost 4 months, the altcoin has repeatedly reached and bounced off these two areas.

Sponsored
Sponsored

On 16 September, SHIB rose 26% to reach the resistance area again a day later. At the press release, this area rejected the price and left a long upper wick.

However, if the daily candle closes above $0.00000904, a higher high will be printed on the daily chart. Combined with the higher low (blue arrows) of 7 September, this could signal a reversal and the start of an upward impulse.

Chart by Tradingview

The possibility of breaking through the top of the range and continuing the uptrend is also confirmed by the growing volume signature. During the last two days, it reached the highest values since mid-June (red arrow).

Technical indicators confirm the possibility of the continuation of the uptrend. RSI has broken above the 50 line and is rising. MACD generated two positive momentum bars and the signal line is close to entering positive territory. The stochastic oscillator is heading upwards and is close to entering bullish territory above 80.

Chart by Tradingview

Descending triangle

The daily chart also shows the breakout from the descending triangle that occurred on 7 September (orange arrow). On that day, SHIB rose 24% and began a multi-day consolidation. It then rose to the top of the range at $0.00000950 and started a downtrend.

The downward movement validated the descending triangle line twice as support (orange circles) and brought the price to the bottom around the range support area. Since then, SHIB has risen 40% and continues its upward movement.

Chart by Tradingview

The movement target for this pattern as measured by the height of the descending triangle is the $0.00001100 level. This resistance coincides with the 1.414 Fib external retracement level measured for the last downward movement. If SHIB reaches this peak, it will confirm the breakout from the range described in the previous section.

SHIB future movement

The short-term 4-hour chart shows a breakout from the descending resistance line that has been respected since August 17. The line was tested several times until it was decisively broken through with high volume on 16 September.

At the same time, the SHIB price also broke through the short-term support/resistance area near $0.00000760 (green rectangle). It coincides with the 0.382 Fib retracement level. It is expected that in the short term it will serve as support and the price will validate the area before continuing the upward movement.

Chart by Tradingview

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

PhD and an assistant professor at an international university in Lublin, Poland. Spent 10 years studying philosophy of nature and sport science. An author of 4 books and two dozens of scientific articles. Now, he is using his mind for the benefits of the cryptocommunity. Technical analysis enthusiast, Bitcoin warrior, and a strong supporter of the idea of decentralization. Duc in altum!

Follow Author

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://beincrypto.com/shiba-inu-shib-rises-to-range-high/

Continue Reading

Uncategorized

AMD Not Prioritize Mining Cards Over Gaming GPUs, Says CFO

Published

on

By

AMD, along with other chip manufacturers, has struggled to keep up with the high demand for GPUs due to crypto mining. 

Sponsored
Sponsored

The past year has been hard on those looking to buy gaming graphic processing units (GPUs). The same high-powered units that are used in HD gaming applications also happen to be the GPU of choice for cryptocurrency miners worldwide. As the mining of cryptos such as Bitcoin becomes more and more difficult, more and more processing power is required to achieve the same goal.

Due to this, there has been a rush on GPUs in the last year with AMD, Nvidia, and other manufacturers struggling to keep pace. AMD has come under heavy pressure because of how poor its ability to meet the growing demand has been. Some even accused the company of prioritizing mining cards over gaming chips. The pandemic was another root cause of this shortage as the world’s population demanded more home electronics and entertainment devices across the board. 

Sponsored
Sponsored

During the recent Deutsche Bank Technology Conference, CFO of AMD Devinder Kumar said that AMD was not prioritizing GPU cryptocurrency miners when asked directly about it. Kumar’s response was “crypto, negligible. That’s not a priority for us. We do not prioritize our products or make them for the crypto folks is not for the gamers, and that’s a high priority from that standpoint. What’s driven the growth, as you know, we had the Radeon 6000 Series high-end GPUs introduced very competitive and that is driving the growth in the GPU space.” 

Crypto-specific cards might be the answer

Nvidia has suffered through the same issue as its competition and is tackling it in a rather reasonable way. The company began to produce and market GPUs that were specifically designed for cryptocurrency miners. Nvidia creating a distinct separation between the two should help alleviate the rush on gaming GPUs that users are scrambling to purchase. 

The crypto-mining processors (CMPs) that are now being sold aren’t as sophisticated as their gaming counterparts because they don’t need to be. Because they can’t be used for conventional graphics-related tasks, they will not flood the GPU secondary market. CMP cards can’t be used for graphics-related tasks are therefore won’t flood the secondary market with GPUs.

Another step that Nvidia has taken to combat this issue is to nerf its currency line of GPUs to make them less suited to the task of mining cryptocurrencies. Due to this, they are only effective as gaming cards.

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

Follow Author

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://beincrypto.com/amd-not-prioritize-mining-cards-more-than-gaming-gpus/

Continue Reading

Uncategorized

Tomi Heroes NFT Sales Surpasses $1.35M

Published

on

By

NFT and DeFi enthusiasts worldwide may be wondering why Tomi Heroes have been popping off on OpenSea in recent days.

Sponsored
Sponsored

These non-fungible tokens grant access to Tomi’s token presale soon, so the limited-edition sets are in high demand. With 395 Ether roughly $1.37 million in traded volume, it is evident that this is the project to keep an eye on over the coming days. 

Massive TOMI Presale ROI Potential

As Tomi Heroes generate more proceeds, the team will use these funds to purchase and burn TOMI token during the TOMI sale on SushiSwap.

Sponsored
Sponsored

It is a no-brainer for any TOMI presale participant, as, given the contribution by the TOMI team from the NFT sale, the return on investment potential is borderline astronomical.

As more FOMO kicks in among investors who seek exposure to the TOMI presale rounds, the remaining NFTs will generate even more attention and return for the presale.

It is essential to see this project for what it embodies. It is not just an NFT collectible, although these items will likely remain very popular on the secondary market after the token sale concludes.

Instead, it is a tool to facilitate token presale participation and incentivize holding the NFT rather than flipping it for a quick profit like so many other projects. 

Moreover, using the proceeds to make the TOMI token even more scarce is a gamechanger in the crypto industry.

Since the project focuses on giving back to the stakeholders with no profits for the developers, other NFT projects can learn a thing or two from how Tomi approaches this novel technology.

Perhaps this will set a precedent for ethical and inventive demand-driven tokenomics.

Investing in Tomi Heroes is a smart idea if you are interested in partaking in the TOMI presale rounds. It is essential to gain access to one of these five presale rounds, as they are available for only 30 minutes each.

The current rate of ETH trading volume is sufficient to make investors 10x on their TOMI investment even if no one else would participate in the token sale and it remains at a $75,000 market cap. 

The TOMI launch will happen on the Polygon network via the SushiSwap platform to avoid transaction delays and high gas fees. The token presale rounds will take place on September 21, 2021, with each of the five presale rounds lasting 30 minutes. .

A dive into the Tomi technology

To grasp the potential of TOMI, it is essential to look at what the ecosystem will provide to its users. Powering scalable projects through blockchain technology and introducing DEX swapping are two of its core solutions.

The focus on decentralized finance can change the lives of millions of people by democratizing access to alternative financial services and products.

Aligning this vision with PancakeSwap’s success and long-term plan can create a sustainable and attractive outlook for cryptocurrency and blockchain over the coming years. 

TOMISwap will serve as the next-generation decentralized trading platform built by the Tomi team. It will run on the Ethereum blockchain and facilitate the swapping of multiple tokens without forcing users to spend an arm and a leg on transaction fees.

Offering sustainable, efficient, cheap, and fast solutions for transactions at a high throughput helps conserve energy and offers scalability that will benefit all participants. 

The transaction fee per swap is capped at 0.3% of the amount, thanks to the use of decentralized liquidity providers. Of those fees:

  • Liquidity providers will earn 66.6% of transaction fees from TOMISwap and the Sushiswap smart contract’s activity, 
  • Governance token stakers will receive 16.6% of the transaction fee.
  • TOMISwap user giveaways will be allocated 8.3% of the transaction fee.
  • The remaining 8.3% goes to TOMIFundMe. 

Through TOMIFundMe, every person on the planet can set up a profile to share project ideas and business plans.

Rather than stopping there, TOMIFundMe will help business ideas grow and evolve if they can change the world for the better.

All TOMI holders can vote on projects to receive a grant. Those grants are paid out using the 8.3% of all TOMISwap fees collected for this purpose.

It is a front-row seat to future development in the decentralized industry, unlike anything that has been seen before. 

The team’s strong focus on wealth distribution and making a positive societal impact brink value to the TOMI token and those who hold it in their portfolio. However, there are multiple benefits to holding that token.

TOMI utility In a nutshell

The TOMI token serves multiple purposes in the Tomi ecosystem, as it is the native currency.

Ranging from community governance to liquidity provision and cheap transactions, there are multiple reasons to like the concept of TOMI.

Governance token stakers receive passive income from TOMISWAP and can vote on the new era of blockchain development.

Traders can benefit from cheap transaction fees and liquidity rewards through swapping DEX. 

With an initial supply of 1.5 billion – capturing the initial needs of the project – the team opts for using half of the coins to provide liquidity through Sushiswap.

Another 250 million tokens will fund the development of the project and require TOMI governance token holder approval before spending.

The remaining 500 million – to be unlocked over three years – is used for the Community pool. There are no free tokens for the founders or anyone else to ensure a fair distribution and release. 

After the TOMI sale concludes, the team will launch TomiSwap and TOMI staking in October 2021. TomIFundMe will be released in Q1 2022, somewhere near February.

The Tomi blockchain – marking the migration away from Ethereum – goes live in Q3 2022 and will support ERC-20 tokens. 

Closing thoughts

The ongoing interest in the Tomi NFTs confirms investors are on board with the team’s vision of creating wealth for everyone through fairness and transparency.

Moreover, the team’s choice to use all proceeds to buy back TOMI tokens and reduce the supply from day one – without any developer receiving a free allocation of tokens – confirms their commitment to a long-term business plan capable of changing DeFi for good. 

A confident team with a solid business plan and a forward-thinking approach can make many ideas become reality. As cryptocurrency becomes a more mainstream concept, now is the time to build wealth and share it with everyone else. All aspects of Tomi fulfill that outlook and provide value and incentive for TOMI holders.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

The opinion of BeInCrypto staff in a single voice.

Follow Author

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://beincrypto.com/tomi-heroes-nft-sales-surpasses-1-35m/

Continue Reading
Uncategorized5 days ago

All Ironworks Hand vendor locations in Final Fantasy XIV from A Nocturne For Heroes event

Uncategorized2 days ago

Swissquote Confirms European Expansion Plan, Focusing on Crypto

Blockchain3 days ago

Gate.io Introduces OpenPunks, A Community-Based NFT Collection

Uncategorized3 days ago

Wicked Craniums are now Nifty Gateway!

Uncategorized5 days ago

APENFT and Tpunks Enter a Strategic Partnership With the Launch of the NFT Avatar Sale Event on the Binance NFT Platform

Uncategorized4 days ago

Natus Vincere wins ESL Pro League Season 14

Uncategorized3 days ago

Head of Australian Crypto Exchange Says Regulations Are Beneficial

Blockchain2 days ago

Massive NFT and Token Giveaway from Polker as Staking is Announced!

News1 day ago

Gods Unchained and Guild of Guardians Layer 2 Solution Immutable Raises $60 Million

Uncategorized3 days ago

Investor: Coinbase’s $2 billion junk bond deal shows crypto ‘supercycle’ is in place

Blockchain3 days ago

Biggest Crypto Adoption Rumours: Apple, Amazon, and Walmart

Uncategorized3 days ago

Acorns Hires Former Amazon Executive as President, Hints at Crypto Options

Uncategorized2 days ago

Nickelodeon All-Star Brawl will include DLC fighters post-launch

Blockchain5 days ago

Ethereum DeFi Project Development Blasting Higher, But Regulatory Concerns Linger

Blockchain4 days ago

This is how NFT mania pumped Litecoin, MATIC, and other alts

Blockchain4 days ago

DeFiPie (PIE) Price Prediction 2021-2025: Will PIE Rise to $1 by the End of 2021?

Uncategorized2 days ago

Bingbon Launches its Carbon Free and Afforestation Project

News4 days ago

Here’s What It Would Take for Shark Tank Investor Kevin O’Leary Says To Put More Capital Into Bitcoin and Crypto

Uncategorized3 days ago

How to fix the Party Member Preloading error in Apex Legends

Blockchain3 days ago

Public.com Inks Deal with NFL Star to Advise on Financial Literacy Programs

Trending